Sunbelt Federal Credit Union Mortgage Rates, Fees & Info
Hattiesburg, MSLEI: 549300167EZ5P8B06R34
Tax ID: 64-0330253
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Mortgage Data
Review & Overview
Sunbelt Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Sunbelt Federal Credit Union has a high proportion of conventional loans. Their top two markets are Hattiesburg and Laurel .Sunbelt Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.25% | 11/22/24 |
| 30 Year Conventional Refi | 6.27% | 11/22/24 |
| 30 Year Cash-out Refi | 6.27% | 11/22/24 |
| 30 Year FHA Purchase | 6.27% | 11/22/24 |
| 30 Year USDA Purchase | 7.56% | 11/22/24 |
| 15 Year Conventional Purchase | 8.53% | 11/22/24 |
| 15 Year Conventional Refi | 5.68% | 11/22/24 |
| 15 Year Cash-out Refi | 5.68% | 11/22/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Sunbelt Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
12Origination Dollar Volume (All Markets)
$870,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| HATTIESBURG, MS (FHA|USDA|VA) | 6 | $450,000 | $75,000 | $0 | 0.00% |
| Laurel, MS (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $135,000 | $45,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 12 | $870,000 | $72,500 | $0 | 0.00% |
For 2020, Sunbelt Federal Credit Union's most frequently originated type of loan was Conventional, with 12 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 10 | $670,000 | $67,000 | $0 | 0.00% |
| Refi | 2 | $200,000 | $100,000 | $0 | 0.00% |
For 2020, Sunbelt Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 10 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 12 | $870,000 | $72,500 | $0 | 0.00% |
For 2020, Sunbelt Federal Credit Union's most frequently cited loan duration was Other, with 12 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 9 | $525,000 | $58,333 | $0 | 0.00% |
| $100k-200k | 3 | $345,000 | $115,000 | $0 | 0.00% |
2020 saw Sunbelt Federal Credit Union place emphasis on $100,000 or less loans with 9 originations, totaling $525,000 in origination value.
Applicant Income
Sunbelt Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 4 originations. The second most popular income band? $100k-150k, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 12 | $870,000 | $72,500 | $0 | 0.00% |
Sunbelt Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 12 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 7 | $505,000 | $72,143 | $0 | 0.00% |
| Black | 4 | $260,000 | $65,000 | $0 | 0.00% |
| Not provided | 1 | $105,000 | $105,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications43.48%
Sunbelt Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination41.67%
Sunbelt Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 12 | $870,000 | $72,500 |