Sunmark Federal Credit Union Mortgage Rates, Fees & Info

Albany, NY

LEI: 54930017CJWOENP0BZ82

Tax ID: 14-1364933

5 stars - out of 5 stars, based on 40 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 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.

    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
    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.


    Originations

    1,609

    Origination Dollar Volume (All Markets)

    $335,575,000

    Awards

    SUNMARK FEDERAL CREDIT UNION 30 Year Conventional Loans silver SUNMARK FEDERAL CREDIT UNION 30 Year Conventional Loans silver SUNMARK FEDERAL CREDIT UNION 30 Year Conventional Loans silver
    Show all (3) awards

    Relative Rate

    Sunmark Federal Credit Union's average 30 year fixed mortgage rate was 3.02%.

    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.

    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) 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.

    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.

    FIRST NEW YORK
    Similarity Rank: 63
    N C P D Federal Credit Union
    Similarity Rank: 102
    Bank of Richmondville
    Similarity Rank: 141
    HUDSON RIVER COMMUNITY
    Similarity Rank: 243
    Schuyler Savings Bank
    Similarity Rank: 352
    Saratoga National Bank and Trust Company
    Similarity Rank: 594
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 652
    The First National Bank of Long Island
    Similarity Rank: 748
    The Atlantic Federal Credit Union
    Similarity Rank: 882
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 1064

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 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.

    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 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

    Origination Fee/Closing Cost 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 48 $11,190,000 $233,125
    $4k-5k 13 $3,335,000 $256,538
    $5k+ 13 $3,545,000 $272,692

    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.

    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 for loans was 3.02%, while their most frequently originated rate bucket for loans was 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 applications
    91.38%

    Sunmark Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.39%

    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%