Sunmark Federal Credit Union Mortgage Rates, Fees & Info

Albany, NY

LEI: 54930017CJWOENP0BZ82

Tax ID: 14-1364933

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 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, Amsterdam, Gloversville, and Hudson among others. We have data for 12 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 7.45% 11/17/24
    30 Year Conventional Purchase 6.51% 11/17/24
    30 Year Conventional Refi 6.36% 11/17/24
    30 Year Cash-out Refi 6.33% 11/17/24
    30 Year FHA Purchase 7.25% 11/17/24
    30 Year FHA Refi 6.92% 11/17/24
    30 Year VA Purchase 6.61% 11/17/24
    30 Year USDA Purchase 6.66% 11/17/24
    15 Year Conventional Purchase 6.08% 11/17/24
    15 Year Conventional Refi 6.05% 11/17/24
    15 Year Cash-out Refi 6.05% 11/17/24
    15 Year FHA Refi 5.68% 11/17/24
    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

    944

    Origination Dollar Volume (All Markets)

    $166,090,000
    Show all (8) awards

    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) 825 $145,485,000 $176,345 $4,007 4.40%
    GLENS FALLS, NY (FHA|USDA|VA) 26 $5,860,000 $225,385 $4,940 4.45%
    Amsterdam, NY (FHA|USDA|VA) 29 $3,435,000 $118,448 $3,119 4.41%
    Outside of Metro Areas 20 $3,190,000 $159,500 $4,632 4.30%
    Gloversville, NY (FHA|USDA|VA) 23 $3,075,000 $133,696 $3,017 4.41%
    Hudson, NY (FHA|USDA|VA) 11 $1,995,000 $181,364 $3,596 4.45%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 4 $1,600,000 $400,000 $3,822 4.50%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 2 $650,000 $325,000 $4,842 4.56%
    UTICA-ROME, NY (FHA|USDA|VA) 1 $385,000 $385,000 $4,626 4.50%
    ROCHESTER, NY (FHA|USDA|VA) 1 $175,000 $175,000 $3,839 4.38%
    Oneonta, NY (FHA|USDA|VA) 1 $135,000 $135,000 $4,458 4.13%
    SYRACUSE, NY (FHA|USDA|VA) 1 $105,000 $105,000 $261 4.50%
    Sunmark Federal Credit Union's top markets include Albany, Glens Falls, Amsterdam, Gloversville, and Hudson 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.

    The Bank of Greene County
    Similarity Rank: 54
    N C P D Federal Credit Union
    Similarity Rank: 55
    Bogota Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 80
    Saratoga National Bank and Trust Company
    Similarity Rank: 80
    National Union Bank of Kinderhook
    Similarity Rank: 96
    The Atlantic Federal Credit Union
    Similarity Rank: 120
    Freehold Savings Bank
    Similarity Rank: 120
    Blue Foundry Bank
    Similarity Rank: 125

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 718 $127,680,000 $177,827 $3,234 4.44%
    FHA 171 $26,755,000 $156,462 $6,128 4.33%
    VA 34 $8,100,000 $238,235 $7,230 4.19%
    USDA 21 $3,555,000 $169,286 $5,311 4.11%

    For 2018, Sunmark Federal Credit Union's most frequently originated type of loan was Conventional, with 718 originations. Their 2nd most popular type was FHA, with 171 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 634 $125,490,000 $197,934 $4,933 4.40%
    Refi 140 $21,430,000 $153,071 $1,728 4.41%
    Home Improvement 107 $7,655,000 $71,542 $689 4.43%
    Cash Out Refi 63 $11,515,000 $182,778 $3,997 4.32%

    For 2018, Sunmark Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 634 originations. The 2nd most popular reason was Refi, with 140 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 577 $110,045,000 $190,719 $4,823 4.41%
    15 Year 97 $11,425,000 $117,784 $2,499 4.24%
    20 Year 90 $8,460,000 $94,000 $732 4.47%
    30+ year 80 $21,720,000 $271,500 $5,371 4.52%
    Other 68 $12,150,000 $178,676 $727 4.20%
    10 Year 25 $2,075,000 $83,000 $1,079 4.30%
    5 Year 5 $175,000 $35,000 $321 4.10%
    3 Year 2 $40,000 $20,000 $311 4.10%

    For 2018, Sunmark Federal Credit Union's most frequently cited loan duration was 30 Year, with 577 originations. The 2nd most popular length was 15 Year, with 97 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 594 $99,010,000 $166,684
    $1k-2k 229 $41,055,000 $179,279
    $2k-3k 39 $7,745,000 $198,590
    $3k-4k 14 $3,680,000 $262,857
    $4k-5k 5 $1,425,000 $285,000
    $5k+ 5 $1,645,000 $329,000

    Sunmark Federal Credit Union's average total fees were $4,823, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 594 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 758 $130,140,000 $171,689
    3-4% 124 $22,990,000 $185,403
    5-6% 11 $1,765,000 $160,455

    During 2018, Sunmark Federal Credit Union's average interest rate for loans was 4.41%, while their most frequently originated rate bucket for loans was 4-5%, with 758 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 408 $60,930,000 $149,338 $4,194 4.39%
    $200k-400k 285 $74,955,000 $263,000 $5,195 4.41%
    $100,000 or less 218 $12,990,000 $59,587 $1,545 4.41%
    $400k-600k 29 $13,165,000 $453,966 $7,249 4.35%
    $1MM+ 2 $2,690,000 $1,345,000 $8,376 4.75%
    $600k-1MM 2 $1,360,000 $680,000 $5,480 4.75%

    2018 saw Sunmark Federal Credit Union place emphasis on $100k-200k loans with 408 originations, totaling $60,930,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 254 $38,080,000 $149,921 $4,142 4.38%
    $100k-150k 198 $39,450,000 $199,242 $3,856 4.46%
    $75k-100k 194 $33,270,000 $171,495 $4,034 4.41%
    $50k or less 152 $16,960,000 $111,579 $3,552 4.40%
    $150k-250k 82 $20,140,000 $245,610 $4,313 4.29%
    $250k+ 16 $7,200,000 $450,000 $4,968 4.39%

    Sunmark Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 254 originations. The second most popular income band? $100k-150k, with 198 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 162 $26,210,000 $161,790 $3,638 4.34%
    20-30% 155 $26,325,000 $169,839 $3,635 4.36%
    50-60% 61 $12,035,000 $197,295 $6,015 4.32%
    44% 45 $7,155,000 $159,000 $3,853 4.44%
    38% 41 $6,825,000 $166,463 $3,716 4.42%
    37% 40 $6,720,000 $168,000 $3,509 4.44%
    39% 38 $6,600,000 $173,684 $4,505 4.41%
    40% 38 $7,540,000 $198,421 $4,379 4.40%
    47% 35 $5,815,000 $166,143 $3,932 4.46%
    41% 35 $6,365,000 $181,857 $4,137 4.49%
    49% 34 $6,330,000 $186,176 $4,365 4.42%
    43% 33 $6,655,000 $201,667 $4,304 4.46%
    46% 32 $5,440,000 $170,000 $4,137 4.42%
    42% 30 $5,700,000 $190,000 $3,909 4.51%
    48% 29 $4,185,000 $144,310 $4,066 4.47%
    <20% 27 $4,655,000 $172,407 $2,961 4.37%
    45% 26 $4,180,000 $160,769 $3,501 4.46%
    36% 26 $4,850,000 $186,538 $4,041 4.39%
    >60% 4 $870,000 $217,500 $3,424 4.50%

    Sunmark Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 162 originations. The next most common DTI ratio? 20-30%, with 155 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 594 $103,790,000 $174,731 $3,730 4.39%
    Not provided 254 $44,010,000 $173,268 $4,448 4.43%
    Not applicable 48 $10,940,000 $227,917 $4,227 4.25%
    Black 21 $3,675,000 $175,000 $5,172 4.25%
    Asian 19 $2,715,000 $142,895 $4,313 4.41%
    Native Hawaiian or Islander 5 $565,000 $113,000 $3,763 4.43%
    American Indian 3 $395,000 $131,667 $5,951 4.33%

    Approval Rates

    Total approvals of all applications
    89.88%

    Sunmark Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.97%

    Sunmark Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 944 $166,090,000 $175,943

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 14 $6,330,000 $452,143
    Single Family (1-4 Units):Site-Built 930 $159,760,000 $171,785

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 66 $4,460,000 $67,576 $655 4.43%
    40-60% 55 $7,185,000 $130,636 $2,508 4.35%
    60-80% 214 $45,720,000 $213,645 $3,946 4.44%
    80-100% 482 $92,680,000 $192,282 $4,994 4.39%
    Over 100% 13 $2,575,000 $198,077 $7,996 4.16%
    Under 20% 63 $2,275,000 $36,111 $409 4.39%

    Complaints

    Bank Name Product Issue 2018 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. Conventional home mortgage Closing on a mortgage 1 50.0%