Sunmark Federal Credit Union Mortgage Rates, Fees & Info

Albany, NY

LEI: 54930017CJWOENP0BZ82

Tax ID: 14-1364933

5 stars - Updated: 12/16/24 - out of 5 stars, based on 32 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Sunmark Federal Credit Union is a smaller credit union specializing in Home Improvement, 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, New York, Glens Falls, Hudson, and Amsterdam among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Sunmark Federal Credit Union has an 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 relatively high rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 7.45% 12/16/24
    30 Year Conventional Purchase 6.51% 12/16/24
    30 Year Conventional Refi 6.36% 12/16/24
    30 Year Cash-out Refi 6.33% 12/16/24
    30 Year FHA Purchase 7.25% 12/16/24
    30 Year FHA Refi 6.92% 12/16/24
    30 Year VA Purchase 6.61% 12/16/24
    30 Year USDA Purchase 6.66% 12/16/24
    15 Year Conventional Purchase 6.08% 12/16/24
    15 Year Conventional Refi 6.05% 12/16/24
    15 Year Cash-out Refi 6.05% 12/16/24
    15 Year FHA Refi 5.68% 12/16/24
    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.

    Sunmark Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Sunmark Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,030

    Origination Dollar Volume (All Markets)

    $157,360,000
    Show all (5) awards

    Relative Rate

    Sunmark Federal Credit Union's average 30 year fixed mortgage rate was 6.27%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.21%.

    Relative Fees (Closing Costs)

    Sunmark Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,978.

    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 $9,089.

    Top 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
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 787 $121,715,000 $154,657 $3,323 6.79%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 52 $9,040,000 $173,846 $2,900 6.72%
    GLENS FALLS, NY (FHA|USDA|VA) 29 $5,335,000 $183,966 $5,420 6.99%
    Hudson, NY (FHA|USDA|VA) 40 $5,120,000 $128,000 $3,259 7.21%
    Amsterdam, NY (FHA|USDA|VA) 37 $4,205,000 $113,649 $1,466 6.69%
    Gloversville, NY (FHA|USDA|VA) 34 $4,090,000 $120,294 $3,150 6.55%
    Outside of Metro Areas 23 $3,275,000 $142,391 $3,206 6.73%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 16 $2,810,000 $175,625 $4,058 6.58%
    KINGSTON, NY (FHA|USDA|VA) 3 $645,000 $215,000 $4,810 6.42%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 2 $330,000 $165,000 $3,926 6.69%
    Malone, NY (FHA|USDA|VA) 3 $245,000 $81,667 $483 6.29%
    Auburn, NY (FHA|USDA|VA) 1 $225,000 $225,000 $7,852 5.63%
    SYRACUSE, NY (FHA|USDA|VA) 1 $185,000 $185,000 $4,038 6.13%
    Oneonta, NY (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.63%
    UTICA-ROME, NY (FHA|USDA|VA) 1 $15,000 $15,000 $320 6.25%
    Sunmark Federal Credit Union's top markets include Albany, New York, Glens Falls, Hudson, and Amsterdam among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Similar Lenders

    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.

    Bank of Richmondville
    Similarity Rank: 32
    GREYLOCK
    Similarity Rank: 80
    Saratoga National Bank and Trust Company
    Similarity Rank: 90
    The Bank of Greene County
    Similarity Rank: 96
    N C P D Federal Credit Union
    Similarity Rank: 126
    Glens Falls National Bank and Trust Company
    Similarity Rank: 135
    HUDSON RIVER COMMUNITY
    Similarity Rank: 138
    Columbia Bank
    Similarity Rank: 156
    The First National Bank of Long Island
    Similarity Rank: 158
    GREATER ALLIANCE
    Similarity Rank: 168

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 682 $115,660,000 $169,589 $2,468 6.47%
    HELOC 267 $23,485,000 $87,959 n/a 7.56%
    FHA 76 $17,020,000 $223,947 $8,498 6.15%
    VA 4 $1,070,000 $267,500 $5,028 6.63%
    USDA 1 $125,000 $125,000 $0 5.63%

    For 2023, Sunmark Federal Credit Union's most frequently originated type of loan was Conventional, with 682 originations. Their 2nd most popular type was HELOC, with 267 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 483 $37,435,000 $77,505 $347 7.05%
    Home Purchase 315 $77,835,000 $247,095 $6,234 6.32%
    Refi 196 $37,320,000 $190,408 $1,322 6.92%
    Cash Out Refi 21 $3,655,000 $174,048 $5,440 6.30%
    Other 15 $1,115,000 $74,333 $383 6.93%

    For 2023, Sunmark Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 483 originations. The 2nd most popular reason was Home Purchase, with 315 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 331 $27,725,000 $83,761 $591 7.39%
    30 Year 254 $60,870,000 $239,646 $5,978 6.27%
    Other 223 $43,865,000 $196,704 $368 5.92%
    20 Year 114 $10,730,000 $94,123 $454 6.87%
    10 Year 78 $4,500,000 $57,692 $394 6.27%
    30+ year 25 $9,465,000 $378,600 $8,041 6.62%
    5 Year 5 $205,000 $41,000 $320 5.65%

    For 2023, Sunmark Federal Credit Union's most frequently cited loan duration was 15 Year, with 331 originations. The 2nd most popular length was 30 Year, with 254 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 273 $19,275,000 $70,604
    $1k-2k 144 $33,710,000 $234,097
    $2k-3k 66 $15,490,000 $234,697
    $3k-4k 37 $10,325,000 $279,054
    $4k-5k 23 $6,815,000 $296,304
    $5k+ 14 $4,470,000 $319,286

    Sunmark Federal Credit Union's average total fees were $5,978, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 273 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 348 $52,610,000 $151,178
    5-6% 213 $28,945,000 $135,892
    Over 8% 127 $9,355,000 $73,661
    7-8% 120 $18,300,000 $152,500
    4-5% 20 $4,190,000 $209,500
    3-4% 2 $710,000 $355,000
    2.5-3% 1 $405,000 $405,000

    During 2023, Sunmark Federal Credit Union's average interest rate for loans was 6.27%, while their most frequently originated rate bucket for loans was 6-7%, with 348 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 432 $23,570,000 $54,560 $521 7.01%
    $100k-200k 324 $47,190,000 $145,648 $3,565 6.75%
    $200k-400k 228 $61,370,000 $269,167 $6,307 6.40%
    $400k-600k 34 $16,140,000 $474,706 $9,037 6.18%
    $600k-1MM 11 $8,045,000 $731,364 $7,723 6.25%
    $1MM+ 1 $1,045,000 $1,045,000 $0 0.00%

    2023 saw Sunmark Federal Credit Union place emphasis on $100,000 or less loans with 432 originations, totaling $23,570,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 233 $31,555,000 $135,429 $3,117 6.89%
    $50k-75k 173 $19,935,000 $115,231 $3,309 6.64%
    $75k-100k 171 $19,195,000 $112,251 $2,576 6.75%
    $150k-250k 154 $27,560,000 $178,961 $4,535 6.86%
    $50k or less 52 $4,790,000 $92,115 $2,640 6.75%
    $250k+ 48 $11,480,000 $239,167 $4,360 6.82%

    Sunmark Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 233 originations. The second most popular income band? $50k-75k, with 173 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 161 $19,195,000 $119,224 $2,800 6.74%
    30-36% 152 $21,600,000 $142,105 $3,778 6.92%
    49% 51 $5,135,000 $100,686 $1,300 6.69%
    <20% 48 $6,740,000 $140,417 $2,401 6.43%
    42% 40 $6,150,000 $153,750 $4,963 6.90%
    39% 38 $4,160,000 $109,474 $3,165 6.95%
    48% 37 $4,695,000 $126,892 $2,213 6.54%
    41% 33 $5,135,000 $155,606 $3,366 6.97%
    46% 32 $4,370,000 $136,563 $3,343 6.71%
    38% 32 $5,450,000 $170,313 $3,741 6.98%
    43% 29 $4,125,000 $142,241 $3,177 7.08%
    40% 29 $4,725,000 $162,931 $3,529 6.55%
    37% 29 $3,525,000 $121,552 $2,689 7.10%
    47% 28 $3,900,000 $139,286 $2,805 6.82%
    44% 24 $3,020,000 $125,833 $3,358 6.98%
    45% 23 $3,695,000 $160,652 $4,709 6.74%
    50-60% 22 $5,360,000 $243,636 $7,642 6.34%
    36% 20 $2,710,000 $135,500 $3,806 6.71%
    >60% 3 $825,000 $275,000 $2,409 6.38%

    Sunmark Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 161 originations. The next most common DTI ratio? 30-36%, with 152 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 592 $74,490,000 $125,828 $2,639 6.82%
    Not applicable 198 $42,730,000 $215,808 $7,518 5.75%
    Not provided 152 $27,690,000 $182,171 $4,696 6.63%
    Black 55 $7,805,000 $141,909 $5,069 6.86%
    Asian 19 $2,995,000 $157,632 $4,632 7.11%
    American Indian 6 $800,000 $133,333 $3,793 6.58%
    Other Asian 5 $685,000 $137,000 $3,652 6.73%
    Other Pacific Islander 1 $105,000 $105,000 $0 7.75%
    Native Hawaiian or Islander 2 $60,000 $30,000 $320 6.12%

    Approval Rates

    Total approvals of all applications
    86.07%

    Sunmark Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    67.67%

    Sunmark 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
    250.0 3 $225,000 $75,000
    NA 1,027 $157,135,000 $153,004

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,030 $157,360,000 $152,777

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 223 $21,515,000 $96,480 $718 7.08%
    40-60% 54 $9,230,000 $170,926 $2,848 6.70%
    60-80% 98 $23,020,000 $234,898 $4,864 6.46%
    80-100% 182 $46,900,000 $257,692 $6,609 6.29%
    Under 20% 274 $13,850,000 $50,547 $360 7.03%