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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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, Amsterdam, Hudson, and Gloversville among others. We have data for 16 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.

    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% 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

    1,688

    Origination Dollar Volume (All Markets)

    $304,770,000
    Show all (7) 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) 1,317 $249,775,000 $189,655 $3,901 4.22%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 80 $16,350,000 $204,375 $3,304 3.86%
    Amsterdam, NY (FHA|USDA|VA) 80 $10,070,000 $125,875 $4,887 4.40%
    Hudson, NY (FHA|USDA|VA) 59 $7,385,000 $125,169 $2,869 3.84%
    Gloversville, NY (FHA|USDA|VA) 53 $6,765,000 $127,642 $3,261 4.59%
    GLENS FALLS, NY (FHA|USDA|VA) 41 $6,005,000 $146,463 $3,316 4.13%
    Outside of Metro Areas 31 $4,925,000 $158,871 $3,306 4.15%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 10 $1,390,000 $139,000 $3,404 4.10%
    UTICA-ROME, NY (FHA|USDA|VA) 2 $680,000 $340,000 $1,077 3.88%
    Oneonta, NY (FHA|USDA|VA) 5 $485,000 $97,000 $4,555 4.55%
    KINGSTON, NY (FHA|USDA|VA) 3 $375,000 $125,000 $3,213 4.75%
    SYRACUSE, NY (FHA|USDA|VA) 2 $270,000 $135,000 $3,109 3.50%
    ROCHESTER, NY (FHA|USDA|VA) 2 $110,000 $55,000 $2,803 4.00%
    ITHACA, NY (FHA|USDA|VA) 1 $85,000 $85,000 $320 3.99%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $55,000 $55,000 $320 3.99%
    Seneca Falls, NY (FHA|USDA|VA) 1 $45,000 $45,000 $0 3.50%
    Sunmark Federal Credit Union's top markets include Albany, New York, Amsterdam, Hudson, and Gloversville 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: 24
    RSI BANK
    Similarity Rank: 30
    Schuyler Savings Bank
    Similarity Rank: 51
    Saratoga National Bank and Trust Company
    Similarity Rank: 72
    The Bank of Greene County
    Similarity Rank: 81
    North Jersey Federal Credit Union
    Similarity Rank: 124
    The First National Bank of Long Island
    Similarity Rank: 142
    HUDSON RIVER COMMUNITY
    Similarity Rank: 156
    N C P D Federal Credit Union
    Similarity Rank: 201
    FIRST NEW YORK
    Similarity Rank: 360

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,037 $233,615,000 $225,280 $2,970 4.29%
    HELOC 502 $41,820,000 $83,307 n/a 3.94%
    FHA 136 $26,260,000 $193,088 $7,837 4.52%
    VA 9 $2,305,000 $256,111 $11,221 4.03%
    USDA 4 $770,000 $192,500 $0 5.66%

    For 2022, Sunmark Federal Credit Union's most frequently originated type of loan was Conventional, with 1,037 originations. Their 2nd most popular type was HELOC, with 502 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 645 $63,645,000 $98,674 $365 4.08%
    Home Purchase 573 $147,135,000 $256,780 $5,514 4.49%
    Refi 343 $69,955,000 $203,950 $2,385 3.96%
    Cash Out Refi 98 $21,880,000 $223,265 $4,538 3.80%
    Other 29 $2,155,000 $74,310 $318 4.31%

    For 2022, Sunmark Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 645 originations. The 2nd most popular reason was Home Purchase, with 573 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 587 $51,625,000 $87,947 $1,922 3.95%
    30 Year 541 $129,015,000 $238,475 $5,230 4.39%
    Other 322 $93,510,000 $290,404 $1,671 4.06%
    20 Year 175 $17,495,000 $99,971 $635 4.43%
    10 Year 35 $2,625,000 $75,000 $820 4.22%
    30+ year 26 $10,430,000 $401,154 $7,014 4.03%
    5 Year 2 $70,000 $35,000 $320 3.50%

    For 2022, Sunmark Federal Credit Union's most frequently cited loan duration was 15 Year, with 587 originations. The 2nd most popular length was 30 Year, with 541 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 390 $93,630,000 $240,077
    $<1k 264 $25,040,000 $94,848
    $2k-3k 105 $22,915,000 $218,238
    $3k-4k 53 $11,795,000 $222,547
    $4k-5k 29 $8,505,000 $293,276
    $5k+ 29 $7,935,000 $273,621

    Sunmark Federal Credit Union's average total fees were $5,230, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 390 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 590 $93,280,000 $158,102
    4-5% 229 $36,625,000 $159,934
    5-6% 229 $35,235,000 $153,865
    <2.5% 127 $12,015,000 $94,606
    6-7% 102 $16,360,000 $160,392
    2.5-3% 84 $17,420,000 $207,381
    7-8% 16 $1,180,000 $73,750
    Over 8% 5 $285,000 $57,000

    During 2022, Sunmark Federal Credit Union's average interest rate for loans was 4.39%, while their most frequently originated rate bucket for loans was 3-4%, with 590 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 593 $33,295,000 $56,147 $875 4.15%
    $100k-200k 572 $82,820,000 $144,790 $3,951 4.27%
    $200k-400k 413 $109,225,000 $264,467 $5,241 4.19%
    $400k-600k 77 $36,605,000 $475,390 $5,555 4.02%
    $600k-1MM 23 $17,355,000 $754,565 $7,715 4.14%
    $1MM+ 10 $25,470,000 $2,547,000 $9,360 3.31%

    2022 saw Sunmark Federal Credit Union place emphasis on $100,000 or less loans with 593 originations, totaling $33,295,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 352 $56,970,000 $161,847 $3,794 4.22%
    $50k-75k 314 $40,200,000 $128,025 $4,102 4.31%
    $75k-100k 284 $38,790,000 $136,585 $3,515 4.17%
    $150k-250k 235 $46,675,000 $198,617 $3,930 4.08%
    $50k or less 130 $13,090,000 $100,692 $3,752 4.11%
    $250k+ 63 $16,295,000 $258,651 $3,651 4.14%

    Sunmark Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 352 originations. The second most popular income band? $50k-75k, with 314 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 289 $43,305,000 $149,844 $3,497 4.02%
    30-36% 219 $34,405,000 $157,100 $3,639 4.21%
    <20% 102 $13,770,000 $135,000 $2,699 3.44%
    36% 68 $8,670,000 $127,500 $4,408 4.19%
    38% 61 $7,705,000 $126,311 $4,086 4.16%
    37% 60 $8,720,000 $145,333 $2,899 4.29%
    40% 55 $7,235,000 $131,545 $3,478 4.39%
    42% 54 $8,500,000 $157,407 $3,789 4.31%
    43% 54 $8,760,000 $162,222 $4,398 4.25%
    50-60% 52 $11,590,000 $222,885 $8,241 4.47%
    41% 52 $8,070,000 $155,192 $3,744 4.58%
    44% 51 $7,545,000 $147,941 $3,608 4.70%
    39% 45 $7,665,000 $170,333 $4,127 4.19%
    49% 43 $5,555,000 $129,186 $2,763 4.44%
    45% 43 $7,765,000 $180,581 $3,679 4.57%
    46% 42 $7,550,000 $179,762 $3,748 4.14%
    47% 42 $6,970,000 $165,952 $3,211 4.51%
    48% 38 $6,240,000 $164,211 $3,268 4.40%
    >60% 5 $1,635,000 $327,000 $7,592 2.87%

    Sunmark Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 289 originations. The next most common DTI ratio? 30-36%, with 219 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 939 $132,825,000 $141,454 $3,450 4.18%
    Not applicable 307 $92,435,000 $301,091 $320 3.75%
    Not provided 324 $61,010,000 $188,302 $4,481 4.07%
    Black 69 $10,815,000 $156,739 $4,668 4.82%
    Asian 25 $4,465,000 $178,600 $4,185 4.02%
    American Indian 10 $1,360,000 $136,000 $2,889 4.57%
    Filipino 3 $775,000 $258,333 $3,177 4.17%
    Native Hawaiian or Islander 4 $320,000 $80,000 $320 5.15%
    Asian Indian 3 $295,000 $98,333 $3,822 5.08%
    Other Asian 3 $245,000 $81,667 $4,045 4.50%
    Korean 1 $225,000 $225,000 $3,428 3.25%

    Approval Rates

    Total approvals of all applications
    88.09%

    Sunmark Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.91%

    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 4 $380,000 $95,000
    NA 1,684 $304,390,000 $180,754

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,688 $304,770,000 $180,551

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 293 $28,985,000 $98,925 $910 4.17%
    40-60% 116 $19,630,000 $169,224 $3,109 4.17%
    60-80% 229 $52,995,000 $231,419 $4,090 4.08%
    80-100% 377 $90,835,000 $240,942 $5,517 4.42%
    Over 100% 4 $1,220,000 $305,000 $14,357 4.38%
    Under 20% 361 $18,185,000 $50,374 $374 4.04%