Sunstreet Mortgage Rates, Fees & Info

Phoenix, AZ

LEI: 549300ANGNMQ8TDQAZ27

Tax ID: 20-2715422

4.8 stars - out of 5 stars, based on 57 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Sunstreet Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. Sunstreet Mortgage 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 include Tucson, Phoenix, Nogales, Flagstaff, and Sierra Vista among others. Sunstreet Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Sunstreet Mortgage is typically an average fee lendor.


Originations

3,244

Origination Dollar Volume (All Markets)

$785,180,000
Show all (6) awards

Relative Rate

Sunstreet Mortgage 's average 30 year fixed rate mortgage of loans were 3.18%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.03%.

Relative Fees

Sunstreet Mortgage 's average total fees for a 30 year fixed rate mortgage are $4,825.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
TUCSON, AZ (FHA|USDA|VA) 1,615 $360,525,000 $223,235 $4,538 3.15%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 338 $97,810,000 $289,379 $4,984 3.22%
Nogales, AZ (FHA|USDA|VA) 464 $90,300,000 $194,612 $4,941 3.11%
FLAGSTAFF, AZ (FHA|USDA|VA) 213 $80,545,000 $378,146 $4,973 3.05%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 358 $72,160,000 $201,564 $4,251 3.10%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 59 $30,085,000 $509,915 $4,667 2.98%
Safford, AZ (FHA|USDA|VA) 88 $17,610,000 $200,114 $4,760 3.13%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 27 $9,015,000 $333,889 $4,695 3.06%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 18 $7,500,000 $416,667 $4,594 2.90%
Show Low, AZ (FHA|USDA|VA) 16 $3,690,000 $230,625 $4,323 3.02%
Outside of Metro Areas 13 $3,645,000 $280,385 $5,178 2.88%
STOCKTON, CA (FHA|USDA|VA) 5 $2,225,000 $445,000 $6,040 3.33%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $1,925,000 $641,667 $6,871 3.29%
YUMA, AZ (FHA|USDA|VA) 6 $1,810,000 $301,667 $4,834 3.31%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 4 $1,590,000 $397,500 $4,846 2.94%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 5 $1,375,000 $275,000 $4,828 3.20%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 3 $1,095,000 $365,000 $5,380 3.04%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $645,000 $645,000 $26,066 2.63%
Payson, AZ (FHA|USDA|VA) 3 $515,000 $171,667 $3,188 3.13%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $490,000 $245,000 $2,805 3.00%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $370,000 $185,000 $2,401 2.81%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $255,000 $255,000 $4,813 2.25%

Sunstreet Mortgage 's top markets include Tucson, Phoenix, Nogales, Flagstaff, and Sierra Vista among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,241 $535,485,000 $238,949 $3,567 3.17%
FHA 488 $109,600,000 $224,590 $8,043 3.22%
VA 324 $105,690,000 $326,204 $7,042 2.82%
USDA 191 $34,405,000 $180,131 $4,805 2.98%

For the 2021 period, Sunstreet Mortgage 's most frequently originated loan type of loans were Conventional, with 2,241 originations. Their 2nd most popular type is FHA, with 488 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,758 $464,540,000 $264,243 $5,639 3.19%
Refi 818 $171,430,000 $209,572 $3,029 2.92%
Cash Out Refi 668 $149,210,000 $223,368 $4,081 3.24%

For the 2021, Sunstreet Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 1,758 originations. The 2nd most popular reason of loans were Refi, with 818 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 2,876 $720,240,000 $250,431 $4,825 3.18%
15 Year 234 $41,790,000 $178,590 $3,371 2.63%
20 Year 87 $15,925,000 $183,046 $3,347 3.05%
Other 27 $4,865,000 $180,185 $3,383 3.15%
10 Year 20 $2,360,000 $118,000 $3,425 2.67%

For the 2021, Sunstreet Mortgage 's most frequently cited loan length of loans were 30 Year, with 2,876 originations. The 2nd most popular length of loans were 15 Year, with 234 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,544 $361,590,000 $234,190
$<1k 880 $228,010,000 $259,102
$3k-4k 378 $89,260,000 $236,138
$2k-3k 357 $76,885,000 $215,364
$5k+ 85 $29,435,000 $346,294

$4,825 of loans were Sunstreet Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,544 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 1,686 $405,740,000 $240,652
2.5-3% 1,160 $287,060,000 $247,466
<2.5% 292 $69,780,000 $238,973
4-5% 106 $22,600,000 $213,208

During 2021, Sunstreet Mortgage 's average interest rate of loans were 3.18%, while their most frequently originated rate bucket of loans were 3-4%, with 1,686 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,458 $396,190,000 $271,735 $5,396 3.15%
$100k-200k 1,203 $186,425,000 $154,967 $3,727 3.14%
$400k-600k 298 $141,410,000 $474,530 $5,466 3.07%
$100,000 or less 227 $18,325,000 $80,727 $2,908 3.05%
$600k-1MM 54 $37,550,000 $695,370 $8,113 2.96%
$1MM+ 4 $5,280,000 $1,320,000 $10,061 3.00%

2021 saw Sunstreet Mortgage place emphasis on $200k-400k loans with 1,458 originations, totaling $396,190,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 884 $189,610,000 $214,491 $5,060 3.16%
$50k or less 834 $131,840,000 $158,082 $4,198 3.15%
$100k-150k 545 $166,145,000 $304,853 $4,847 3.13%
$75k-100k 529 $136,395,000 $257,836 $4,891 3.14%
$150k-250k 266 $95,780,000 $360,075 $4,452 3.10%
$250k+ 106 $43,690,000 $412,170 $4,785 3.21%

Sunstreet Mortgage lent most frequently to those with incomes in the $50k-75k range, with 884 originations. The second most popular income band? $50k or less, with 834 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 664 $152,270,000 $229,322 $3,939 3.08%
30-36% 601 $146,955,000 $244,517 $4,442 3.14%
<20% 245 $54,965,000 $224,347 $3,470 2.94%
44% 216 $51,900,000 $240,278 $4,609 3.05%
50-60% 149 $41,155,000 $276,208 $7,188 3.00%
42% 137 $33,615,000 $245,365 $4,915 3.25%
41% 136 $33,520,000 $246,471 $4,934 3.23%
38% 126 $30,040,000 $238,413 $4,688 3.21%
39% 121 $28,695,000 $237,149 $4,944 3.18%
43% 116 $27,890,000 $240,431 $4,713 3.25%
37% 110 $29,830,000 $271,182 $5,194 3.25%
40% 106 $24,880,000 $234,717 $4,868 3.15%
36% 94 $21,770,000 $231,596 $4,490 3.21%
49% 80 $19,450,000 $243,125 $4,594 3.18%
48% 79 $19,895,000 $251,835 $5,299 3.18%
46% 76 $19,650,000 $258,553 $5,621 3.15%
45% 73 $17,705,000 $242,534 $5,254 3.19%
47% 58 $13,550,000 $233,621 $5,278 3.22%
>60% 6 $2,950,000 $491,667 $17,212 2.73%

Sunstreet Mortgage lent most frequently to those with DTI ratios of 20-30%, with 664 originations. The next most common DTI ratio? 30-36%, with 601 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,907 $692,505,000 $238,220 $4,607 3.13%
Not provided 171 $47,765,000 $279,327 $4,843 3.13%
Black 72 $19,020,000 $264,167 $5,427 3.12%
Asian 65 $17,335,000 $266,692 $4,825 3.08%
American Indian 17 $6,005,000 $353,235 $6,903 3.01%
Native Hawaiian 8 $1,890,000 $236,250 $6,655 3.25%
Asian Indian 2 $350,000 $175,000 $5,665 3.00%
Other Pacific Islander 1 $205,000 $205,000 $10,098 3.13%
Korean 1 $105,000 $105,000 $760 2.75%

Approval Rates

Total approvals of all applications
98.42%

Sunstreet Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
76.87%

Sunstreet Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 3,244 $785,180,000 $242,041

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
3,244 $785,180,000 $242,041

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 119 $15,235,000 $128,025 $2,964 2.90%
40-60% 440 $81,950,000 $186,250 $2,965 2.94%
60-80% 1,098 $271,530,000 $247,295 $3,716 3.20%
80-100% 1,422 $369,220,000 $259,648 $5,542 3.16%
Over 100% 105 $31,915,000 $303,952 $11,021 2.95%
Under 20% 9 $835,000 $92,778 $2,453 3.01%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
SUNSTREET MORTGAGE LLC VA mortgage Closing on a mortgage 1 100.0%