Sunmark Federal Credit Union Mortgage Rates, Fees & Info
Albany, NYLEI: 54930017CJWOENP0BZ82
Tax ID: 14-1364933
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Sunmark Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Sunmark Federal Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Albany, Glens Falls, New York, Gloversville, and Amsterdam among others. Sunmark Federal Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Sunmark Federal Credit Union is typically an average fee lendor.Originations
1,609Origination Dollar Volume (All Markets)
$335,575,000Awards
SUNMARK FEDERAL CREDIT UNION - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Sunmark Federal Credit Union's average 30 year fixed rate mortgage of loans were
3.02%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.13%.
Relative Fees
Sunmark Federal Credit Union's average total fees for a 30 year fixed rate
mortgage are $4,526.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1,262 | $268,830,000 | $213,019 | $3,920 | 2.98% |
| GLENS FALLS, NY (FHA|USDA|VA) | 54 | $13,380,000 | $247,778 | $4,562 | 3.02% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 47 | $12,765,000 | $271,596 | $4,166 | 3.03% |
| Gloversville, NY (FHA|USDA|VA) | 80 | $12,100,000 | $151,250 | $3,674 | 3.03% |
| Amsterdam, NY (FHA|USDA|VA) | 89 | $11,875,000 | $133,427 | $3,697 | 2.94% |
| Hudson, NY (FHA|USDA|VA) | 34 | $7,210,000 | $212,059 | $3,692 | 3.15% |
| Outside of Metro Areas | 22 | $4,930,000 | $224,091 | $3,361 | 2.96% |
| KINGSTON, NY (FHA|USDA|VA) | 4 | $1,250,000 | $312,500 | $4,635 | 2.94% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 5 | $1,215,000 | $243,000 | $4,362 | 3.25% |
| UTICA-ROME, NY (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $2,949 | 3.31% |
| Cortland, NY (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,969 | 3.25% |
| Oneonta, NY (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $3,003 | 2.94% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,247 | 2.38% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,366 | 2.38% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,037 | 3.63% |
| Plattsburgh, NY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,940 | 2.38% |
| ITHACA, NY (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,812 | 2.88% |
Sunmark Federal Credit Union's top markets include Albany, Glens Falls, New York, Gloversville, and Amsterdam among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,391 | $292,005,000 | $209,925 | $3,321 | 3.00% |
| FHA | 184 | $34,910,000 | $189,728 | $6,946 | 2.89% |
| VA | 28 | $7,720,000 | $275,714 | $9,192 | 2.96% |
| USDA | 6 | $940,000 | $156,667 | $4,873 | 2.92% |
For the 2021 period, Sunmark Federal Credit Union's most frequently originated loan type of loans were Conventional, with 1,391 originations. Their 2nd most popular type is FHA, with 184 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 746 | $165,700,000 | $222,118 | $4,907 | 3.00% |
| Refi | 439 | $89,865,000 | $204,704 | $3,026 | 2.85% |
| Cash Out Refi | 281 | $58,685,000 | $208,843 | $3,756 | 2.95% |
| Other | 73 | $15,295,000 | $209,521 | $3,098 | 2.85% |
| Home Improvement | 70 | $6,030,000 | $86,143 | $340 | 3.92% |
For the 2021, Sunmark Federal Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 746 originations. The 2nd most popular reason of loans were Refi, with 439 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 885 | $197,345,000 | $222,989 | $4,526 | 3.02% |
| 15 Year | 300 | $53,010,000 | $176,700 | $2,915 | 2.61% |
| Other | 228 | $48,080,000 | $210,877 | $2,824 | 3.21% |
| 20 Year | 121 | $18,025,000 | $148,967 | $1,972 | 3.33% |
| 30+ year | 46 | $15,570,000 | $338,478 | $5,813 | 3.69% |
| 10 Year | 29 | $3,545,000 | $122,241 | $1,911 | 2.99% |
For the 2021, Sunmark Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 885 originations. The 2nd most popular length of loans were 15 Year, with 300 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1,035 | $219,825,000 | $212,391 |
| $2k-3k | 166 | $37,110,000 | $223,554 |
| $<1k | 136 | $17,970,000 | $132,132 |
| $3k-4k | 61 | $14,525,000 | $238,115 |
| $5k+ | 13 | $3,545,000 | $272,692 |
$4,526 of loans were Sunmark Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,035 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 699 | $151,945,000 | $217,375 |
| 3-4% | 487 | $99,345,000 | $203,994 |
| <2.5% | 223 | $41,465,000 | $185,942 |
| 4-5% | 3 | $245,000 | $81,667 |
During 2021, Sunmark Federal Credit Union's average interest rate of loans were 3.02%, while their most frequently originated rate bucket of loans were 2.5-3%, with 699 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 650 | $98,790,000 | $151,985 | $3,772 | 2.89% |
| $200k-400k | 633 | $170,755,000 | $269,755 | $4,543 | 2.98% |
| $100,000 or less | 238 | $16,070,000 | $67,521 | $1,906 | 3.30% |
| $400k-600k | 67 | $30,995,000 | $462,612 | $4,831 | 3.05% |
| $600k-1MM | 15 | $11,295,000 | $753,000 | $4,404 | 3.08% |
| $1MM+ | 6 | $7,670,000 | $1,278,333 | $4,510 | 3.13% |
2021 saw Sunmark Federal Credit Union place emphasis on $100k-200k loans with 650 originations, totaling $98,790,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 361 | $82,005,000 | $227,161 | $3,978 | 2.99% |
| $50k-75k | 346 | $60,840,000 | $175,838 | $4,070 | 3.01% |
| $75k-100k | 300 | $57,180,000 | $190,600 | $3,714 | 3.06% |
| $150k-250k | 198 | $56,360,000 | $284,646 | $3,829 | 2.94% |
| $50k or less | 168 | $22,410,000 | $133,393 | $3,988 | 2.91% |
| $250k+ | 31 | $12,795,000 | $412,742 | $3,866 | 2.78% |
Sunmark Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 361 originations. The second most popular income band? $50k-75k, with 346 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 301 | $63,025,000 | $209,385 | $3,570 | 2.89% |
| 30-36% | 260 | $55,240,000 | $212,462 | $3,943 | 3.02% |
| <20% | 98 | $18,890,000 | $192,755 | $3,185 | 2.82% |
| 40% | 66 | $14,180,000 | $214,848 | $3,889 | 2.98% |
| 42% | 65 | $12,765,000 | $196,385 | $3,834 | 2.98% |
| 44% | 62 | $12,240,000 | $197,419 | $3,871 | 3.02% |
| 39% | 57 | $11,745,000 | $206,053 | $4,353 | 3.11% |
| 41% | 57 | $11,365,000 | $199,386 | $3,931 | 3.03% |
| 36% | 55 | $11,885,000 | $216,091 | $4,004 | 2.97% |
| 49% | 52 | $11,910,000 | $229,038 | $3,726 | 3.12% |
| 50-60% | 47 | $10,005,000 | $212,872 | $6,520 | 2.99% |
| 37% | 47 | $8,765,000 | $186,489 | $4,146 | 2.97% |
| 43% | 46 | $8,770,000 | $190,652 | $3,555 | 3.12% |
| 47% | 45 | $10,445,000 | $232,111 | $4,492 | 3.03% |
| 38% | 42 | $9,400,000 | $223,810 | $3,728 | 3.03% |
| 48% | 39 | $7,725,000 | $198,077 | $3,718 | 3.26% |
| 45% | 36 | $7,300,000 | $202,778 | $4,440 | 3.08% |
| 46% | 30 | $5,630,000 | $187,667 | $4,192 | 2.91% |
| >60% | 3 | $695,000 | $231,667 | $5,684 | 3.04% |
Sunmark Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 301 originations. The next most common DTI ratio? 30-36%, with 260 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 857 | $179,575,000 | $209,539 | $3,753 | 3.02% |
| Not provided | 465 | $96,775,000 | $208,118 | $4,030 | 2.93% |
| Not applicable | 198 | $42,740,000 | $215,859 | $3,301 | 3.06% |
| Black | 45 | $7,825,000 | $173,889 | $4,977 | 3.09% |
| Asian | 27 | $5,715,000 | $211,667 | $5,000 | 2.82% |
| Other Asian | 6 | $1,140,000 | $190,000 | $4,114 | 3.00% |
| Asian Indian | 5 | $805,000 | $161,000 | $4,057 | 3.20% |
| American Indian | 4 | $710,000 | $177,500 | $6,737 | 3.09% |
| Other Pacific Islander | 2 | $290,000 | $145,000 | $3,537 | 2.94% |
Approval Rates
Total approvals of all applications91.05%
Sunmark Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination73.83%
Sunmark Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,609 | $335,575,000 | $208,561 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,609 | $335,575,000 | $208,561 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 78 | $7,620,000 | $97,692 | $1,958 | 3.08% |
| 40-60% | 172 | $31,400,000 | $182,558 | $2,976 | 2.75% |
| 60-80% | 524 | $116,050,000 | $221,469 | $3,588 | 2.98% |
| 80-100% | 585 | $133,605,000 | $228,385 | $4,908 | 2.98% |
| Over 100% | 6 | $1,870,000 | $311,667 | $14,416 | 2.83% |
| Under 20% | 45 | $1,955,000 | $43,444 | $374 | 3.92% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Synergy One Lending, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| Synergy One Lending, Inc. | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
