Sunmark Federal Credit Union Mortgage Rates, Fees & InfoAlbany, NY
Tax ID: 14-1364933
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewSunmark 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 by origination volume include: Albany, Glens Falls, New York, Gloversville, and Amsterdam among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)
Sunmark Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Sunmark Federal Credit Union is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.68%||3/19/23|
|30 Year Conventional Refi||6.50%||3/19/23|
|30 Year Cash-out Refi||6.65%||3/19/23|
|30 Year FHA Purchase||7.32%||3/19/23|
|30 Year FHA Refi||7.25%||3/19/23|
|30 Year VA Purchase||6.51%||3/19/23|
|30 Year VA Refi||6.27%||3/19/23|
|30 Year USDA Purchase||6.82%||3/19/23|
|15 Year Conventional Purchase||6.04%||3/19/23|
|15 Year Conventional Refi||6.00%||3/19/23|
|15 Year Cash-out Refi||6.00%||3/19/23|
|15 Year VA Refi||6.14%||3/19/23|
|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.|
Origination Dollar Volume (All Markets)$335,575,000
Sunmark Federal Credit Union's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.13%.
Relative Fees (Closing Costs)
Sunmark Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,526.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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|
|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%|
We use machine learning to identify the top lenders compared against SUNMARK FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Sunmark Federal Credit Union's most frequently originated type of loan was Conventional, with 1,391 originations. Their 2nd most popular type was FHA, with 184 originations.
For 2021, Sunmark Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 746 originations. The 2nd most popular reason was Refi, with 439 originations.
For 2021, Sunmark Federal Credit Union's most frequently cited loan duration was 30 Year, with 885 originations. The 2nd most popular length was 15 Year, with 300 originations.
Origination Fees/Closing Costs
Sunmark Federal Credit Union's average total fees were $4,526, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,035 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, Sunmark Federal Credit Union's average interest rate for loans was 3.02%, while their most frequently originated rate bucket for loans was 2.5-3%, with 699 originations.
2021 saw Sunmark Federal Credit Union place emphasis on $100k-200k loans with 650 originations, totaling $98,790,000 in origination value.
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
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.
Approval RatesTotal approvals of all applications
Sunmark Federal Credit Union has an average approval rate.
Pick RateApprovals leading to origination
Sunmark Federal Credit Union has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|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%|