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 Refi and 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, New York, Gloversville, Amsterdam, and Glens Falls among others. We have data for 13 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 a low 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

    1,744

    Origination Dollar Volume (All Markets)

    $370,960,000
    Show all (10) 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) 1,481 $318,925,000 $215,344 $3,561 3.05%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 34 $11,040,000 $324,706 $4,273 3.05%
    Gloversville, NY (FHA|USDA|VA) 53 $10,365,000 $195,566 $3,449 3.09%
    Amsterdam, NY (FHA|USDA|VA) 68 $8,140,000 $119,706 $3,177 3.12%
    Outside of Metro Areas 35 $7,755,000 $221,571 $4,228 3.29%
    GLENS FALLS, NY (FHA|USDA|VA) 40 $7,610,000 $190,250 $4,055 3.09%
    Hudson, NY (FHA|USDA|VA) 18 $4,150,000 $230,556 $3,651 3.17%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 6 $1,550,000 $258,333 $3,032 3.19%
    UTICA-ROME, NY (FHA|USDA|VA) 4 $630,000 $157,500 $3,553 2.69%
    KINGSTON, NY (FHA|USDA|VA) 2 $460,000 $230,000 $4,164 3.25%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $155,000 $155,000 $2,805 2.88%
    ROCHESTER, NY (FHA|USDA|VA) 1 $95,000 $95,000 $2,713 2.63%
    BINGHAMTON, NY (FHA|USDA|VA) 1 $85,000 $85,000 $2,901 2.38%
    Sunmark Federal Credit Union's top markets include Albany, New York, Gloversville, Amsterdam, and Glens Falls 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: 56
    The First National Bank of Long Island
    Similarity Rank: 134
    Bank of Richmondville
    Similarity Rank: 180
    North Jersey Federal Credit Union
    Similarity Rank: 247
    HUDSON RIVER COMMUNITY
    Similarity Rank: 284
    The Bank of Greene County
    Similarity Rank: 290
    Saratoga National Bank and Trust Company
    Similarity Rank: 348
    N C P D Federal Credit Union
    Similarity Rank: 482
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 538
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 668

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,551 $336,025,000 $216,651 $3,190 3.05%
    FHA 150 $25,580,000 $170,533 $6,672 3.09%
    VA 25 $5,915,000 $236,600 $6,471 3.11%
    USDA 18 $3,440,000 $191,111 $5,680 3.19%

    For 2020, Sunmark Federal Credit Union's most frequently originated type of loan was Conventional, with 1,551 originations. Their 2nd most popular type was FHA, with 150 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 668 $150,590,000 $225,434 $2,896 2.86%
    Home Purchase 654 $144,430,000 $220,841 $4,810 3.17%
    Cash Out Refi 344 $71,420,000 $207,616 $3,377 2.97%
    Home Improvement 78 $4,520,000 $57,949 $316 4.11%

    For 2020, Sunmark Federal Credit Union's most frequently cited loan purpose was Refi, with 668 originations. The 2nd most popular reason was Home Purchase, with 654 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 901 $204,895,000 $227,408 $4,220 3.08%
    15 Year 439 $82,365,000 $187,620 $2,996 2.65%
    20 Year 150 $24,240,000 $161,600 $2,048 3.46%
    Other 144 $37,670,000 $261,597 $2,299 3.23%
    30+ year 54 $16,600,000 $307,407 $5,356 4.29%
    10 Year 48 $4,860,000 $101,250 $1,398 3.53%
    5 Year 7 $305,000 $43,571 $295 3.74%
    3 Year 1 $25,000 $25,000 $295 3.50%

    For 2020, Sunmark Federal Credit Union's most frequently cited loan duration was 30 Year, with 901 originations. The 2nd most popular length was 15 Year, with 439 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,227 $263,115,000 $214,438
    $<1k 173 $21,345,000 $123,382
    $2k-3k 171 $39,085,000 $228,567
    $3k-4k 37 $8,525,000 $230,405
    $5k+ 18 $4,660,000 $258,889
    $4k-5k 9 $2,545,000 $282,778

    Sunmark Federal Credit Union's average total fees were $4,220, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,227 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 703 $156,045,000 $221,970
    3-4% 602 $119,510,000 $198,522
    <2.5% 272 $54,250,000 $199,449
    4-5% 61 $8,945,000 $146,639
    5-6% 1 $705,000 $705,000

    During 2020, Sunmark Federal Credit Union's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 2.5-3%, with 703 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 735 $197,935,000 $269,299 $3,972 3.02%
    $100k-200k 684 $105,090,000 $153,640 $3,583 2.96%
    $100,000 or less 233 $14,935,000 $64,099 $1,806 3.50%
    $400k-600k 79 $36,285,000 $459,304 $4,663 3.01%
    $600k-1MM 10 $7,120,000 $712,000 $6,809 3.88%
    $1MM+ 3 $9,595,000 $3,198,333 $0 0.00%

    2020 saw Sunmark Federal Credit Union place emphasis on $200k-400k loans with 735 originations, totaling $197,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 450 $100,990,000 $224,422 $3,505 3.04%
    $50k-75k 348 $58,390,000 $167,787 $3,835 3.12%
    $75k-100k 312 $58,740,000 $188,269 $3,411 3.09%
    $150k-250k 278 $76,410,000 $274,856 $3,447 2.92%
    $50k or less 184 $23,090,000 $125,489 $3,764 3.19%
    $250k+ 63 $21,105,000 $335,000 $3,863 2.93%

    Sunmark Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 450 originations. The second most popular income band? $50k-75k, with 348 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 415 $85,955,000 $207,120 $3,261 2.94%
    30-36% 300 $65,660,000 $218,867 $3,659 3.03%
    <20% 160 $33,090,000 $206,813 $3,108 2.78%
    41% 65 $12,405,000 $190,846 $3,462 3.14%
    42% 64 $12,630,000 $197,344 $3,846 3.15%
    40% 64 $14,560,000 $227,500 $4,086 3.12%
    43% 63 $12,405,000 $196,905 $3,274 3.28%
    38% 58 $11,420,000 $196,897 $3,742 3.06%
    45% 52 $10,610,000 $204,038 $3,710 3.23%
    39% 52 $11,520,000 $221,538 $3,927 3.33%
    50-60% 51 $9,955,000 $195,196 $6,317 3.36%
    46% 51 $9,085,000 $178,137 $3,591 3.14%
    44% 50 $11,220,000 $224,400 $3,932 3.10%
    36% 46 $9,670,000 $210,217 $3,576 2.97%
    37% 40 $9,970,000 $249,250 $4,517 3.15%
    48% 40 $6,790,000 $169,750 $2,850 3.42%
    47% 34 $6,080,000 $178,824 $3,074 3.28%
    49% 28 $4,800,000 $171,429 $3,185 3.24%
    >60% 3 $825,000 $275,000 $3,605 3.54%

    Sunmark Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 415 originations. The next most common DTI ratio? 30-36%, with 300 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,048 $216,120,000 $206,221 $3,450 3.09%
    Not provided 524 $111,620,000 $213,015 $3,771 2.98%
    Not applicable 89 $28,095,000 $315,674 $5,650 2.67%
    Black 40 $6,940,000 $173,500 $4,456 3.14%
    Asian 29 $5,185,000 $178,793 $3,754 3.11%
    Asian Indian 5 $1,205,000 $241,000 $3,373 2.53%
    American Indian 4 $970,000 $242,500 $3,042 2.79%
    Native Hawaiian or Islander 3 $615,000 $205,000 $4,167 3.29%
    Guamanian 1 $135,000 $135,000 $6,075 3.25%
    Other Asian 1 $75,000 $75,000 $295 4.50%

    Approval Rates

    Total approvals of all applications
    92.34%

    Sunmark Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.27%

    Sunmark Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,744 $370,960,000 $212,706

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 19 $14,325,000 $753,947
    Single Family (1-4 Units):Site-Built 1,725 $356,635,000 $206,745

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 78 $7,870,000 $100,897 $1,660 3.38%
    40-60% 205 $34,455,000 $168,073 $2,784 2.83%
    60-80% 643 $149,635,000 $232,714 $3,440 2.98%
    80-100% 650 $143,920,000 $221,415 $4,436 3.08%
    Over 100% 6 $1,530,000 $255,000 $9,310 3.06%
    Under 20% 57 $2,045,000 $35,877 $300 4.01%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    SYNERGY ONE LENDING, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 33.3%
    SYNERGY ONE LENDING, INC. Conventional home mortgage Closing on a mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. Conventional home mortgage Trouble during payment process 1 11.1%
    SYNERGY ONE LENDING, INC. FHA mortgage Closing on a mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. Reverse mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. VA mortgage Closing on a mortgage 1 11.1%