Sunrise Family Credit Union Mortgage Rates, Fees & Info
Bay City, MILEI: 549300P1I25L8ILSI852
Tax ID: 38-1642684
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Mortgage Data
Review & Overview
Sunrise Family Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Sunrise Family Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top two markets are Bay City and Saginaw .Sunrise Family Credit Union has an above average approval rate when compared to the average across all lenders. Sunrise Family 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.41% | 4/28/24 |
| 15 Year Conventional Purchase | 4.27% | 4/28/24 |
| 15 Year Conventional Refi | 5.93% | 4/28/24 |
| 15 Year Cash-out Refi | 5.93% | 4/28/24 |
| 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. | ||
Sunrise Family Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
53Origination Dollar Volume (All Markets)
$4,455,000Top 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 |
|---|---|---|---|---|---|
| BAY CITY, MI (FHA|USDA|VA) | 46 | $3,770,000 | $81,957 | $5,301 | 4.74% |
| SAGINAW, MI (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $0 | 4.50% |
| Outside of Metro Areas | 5 | $175,000 | $35,000 | $0 | 5.40% |
Similar Lenders
We use machine learning to identify the top lenders compared against SUNRISE FAMILY CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2019, Sunrise Family Credit Union's most frequently originated type of loan was Conventional, with 48 originations. Their 2nd most popular type was HELOC, with 3 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 31 | $1,695,000 | $54,677 | $0 | 5.05% |
| Home Purchase | 12 | $1,640,000 | $136,667 | $5,301 | 4.32% |
| Refi | 10 | $1,120,000 | $112,000 | $0 | 4.64% |
For 2019, Sunrise Family Credit Union's most frequently cited loan purpose was Cash Out Refi, with 31 originations. The 2nd most popular reason was Home Purchase, with 12 originations.
Loan Duration/Length
For 2019, Sunrise Family Credit Union's most frequently cited loan duration was 15 Year, with 20 originations. The 2nd most popular length was 10 Year, with 15 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 20 | $2,070,000 | $103,500 |
| 5-6% | 16 | $830,000 | $51,875 |
| 3-4% | 12 | $1,380,000 | $115,000 |
| 6-7% | 2 | $80,000 | $40,000 |
| 7-8% | 1 | $35,000 | $35,000 |
During 2019, Sunrise Family Credit Union's average interest rate for loans was 4.30%, while their most frequently originated rate bucket for loans was 4-5%, with 20 originations.
Loan Sizing
2019 saw Sunrise Family Credit Union place emphasis on $100,000 or less loans with 41 originations, totaling $2,025,000 in origination value.
Applicant Income
Sunrise Family Credit Union lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $50k-75k, with 15 originations.
Applicant Debt to Income Ratio
Sunrise Family Credit Union lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? <20%, with 12 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 53 | $4,455,000 | $84,057 | $5,301 | 4.80% |
Approval Rates
Total approvals of all applications100.00%
Sunrise Family Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 53 | $4,455,000 | $84,057 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 53 | $4,455,000 | $84,057 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SYNERGY ONE LENDING, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 37.5% |
| SYNERGY ONE LENDING, INC. | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 25.0% |
| SYNERGY ONE LENDING, INC. | FHA mortgage | Closing on a mortgage | 3 | 37.5% |