Suburban Mortgage Rates, Fees & Info

PHOENIX, AZ

LEI: 549300PW1OR537MRMS88

Tax ID: 86-0619371

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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

    Suburban Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. Suburban 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 by origination volume include: Phoenix, Prescott Valley, Flagstaff, Show Low, and Tucson among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Suburban Mortgage 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. Suburban Mortgage 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.

    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.


    Originations

    1,056

    Origination Dollar Volume (All Markets)

    $276,460,000

    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
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1,003 $263,735,000 $262,946 $4,793 4.29%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 22 $5,480,000 $249,091 $4,303 4.36%
    FLAGSTAFF, AZ (FHA|USDA|VA) 6 $1,580,000 $263,333 $4,146 4.17%
    Show Low, AZ (FHA|USDA|VA) 6 $1,370,000 $228,333 $5,247 4.35%
    TUCSON, AZ (FHA|USDA|VA) 6 $1,070,000 $178,333 $3,075 4.40%
    Payson, AZ (FHA|USDA|VA) 5 $825,000 $165,000 $3,420 4.65%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $745,000 $745,000 $1,968 4.75%
    Outside of Metro Areas 2 $520,000 $260,000 $6,188 4.75%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $430,000 $215,000 $4,076 5.00%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $325,000 $325,000 $3,760 4.88%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $195,000 $195,000 $6,433 4.13%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $185,000 $185,000 $3,143 4.00%
    Suburban Mortgage's top markets include Phoenix, Prescott Valley, Flagstaff, Show Low, and Tucson among others.

    Their top states include:
  • Arizona (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SUBURBAN MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Deer Valley Credit Union
    Similarity Rank: 820
    PIMA Federal Credit Union
    Similarity Rank: 1136
    VANTAGE WEST
    Similarity Rank: 1230
    ARIZONA
    Similarity Rank: 1296
    First Credit Union
    Similarity Rank: 1364
    BELEM SERVICING LLC
    Similarity Rank: 1598
    Canyon State Credit Union
    Similarity Rank: 1710
    ARIZONA CENTRAL
    Similarity Rank: 1712
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1850
    CREDIT UNION WEST
    Similarity Rank: 1974

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 800 $210,440,000 $263,050 $4,020 4.32%
    FHA 154 $36,870,000 $239,416 $8,060 4.36%
    VA 99 $28,605,000 $288,939 $5,352 4.00%
    USDA 3 $545,000 $181,667 $5,828 4.08%

    For 2019, Suburban Mortgage's most frequently originated type of loan was Conventional, with 800 originations. Their 2nd most popular type was FHA, with 154 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 741 $195,675,000 $264,069 $5,254 4.37%
    Refi 315 $80,785,000 $256,460 $3,610 4.11%

    For 2019, Suburban Mortgage's most frequently cited loan purpose was Home Purchase, with 741 originations. The 2nd most popular reason was Refi, with 315 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 993 $261,625,000 $263,469 $4,864 4.33%
    15 Year 42 $9,740,000 $231,905 $3,250 3.54%
    20 Year 14 $3,150,000 $225,000 $2,991 3.89%
    Other 4 $1,060,000 $265,000 $4,073 4.25%
    10 Year 3 $885,000 $295,000 $2,111 3.17%

    For 2019, Suburban Mortgage's most frequently cited loan duration was 30 Year, with 993 originations. The 2nd most popular length was 15 Year, with 42 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 561 $146,065,000 $260,365
    $<1k 172 $48,860,000 $284,070
    $2k-3k 165 $37,745,000 $228,758
    $3k-4k 96 $23,990,000 $249,896
    $4k-5k 35 $9,695,000 $277,000
    $5k+ 27 $10,105,000 $374,259

    Suburban Mortgage's average total fees were $4,864, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 561 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 482 $125,100,000 $259,544
    3-4% 454 $126,270,000 $278,128
    5-6% 110 $22,980,000 $208,909
    6-7% 6 $1,110,000 $185,000
    2.5-3% 4 $1,000,000 $250,000

    During 2019, Suburban Mortgage's average interest rate for loans was 4.33%, while their most frequently originated rate bucket for loans was 4-5%, with 482 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 657 $180,575,000 $274,848 $4,972 4.23%
    $100k-200k 281 $46,365,000 $165,000 $4,216 4.48%
    $400k-600k 95 $41,795,000 $439,947 $4,944 4.11%
    $100,000 or less 15 $1,235,000 $82,333 $3,579 4.58%
    $600k-1MM 6 $4,200,000 $700,000 $3,993 4.06%
    $1MM+ 2 $2,290,000 $1,145,000 $10,084 4.56%

    2019 saw Suburban Mortgage place emphasis on $200k-400k loans with 657 originations, totaling $180,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 302 $68,740,000 $227,616 $4,875 4.34%
    $100k-150k 224 $66,920,000 $298,750 $4,657 4.16%
    $75k-100k 210 $56,770,000 $270,333 $4,928 4.35%
    $50k or less 152 $26,990,000 $177,566 $4,514 4.45%
    $150k-250k 123 $41,715,000 $339,146 $4,916 4.17%
    $250k+ 36 $12,600,000 $350,000 $4,483 4.39%

    Suburban Mortgage lent most frequently to those with incomes in the $50k-75k range, with 302 originations. The second most popular income band? $100k-150k, with 224 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 205 $52,175,000 $254,512 $4,703 4.26%
    20-30% 199 $55,475,000 $278,769 $4,236 4.17%
    <20% 62 $14,920,000 $240,645 $3,738 4.10%
    44% 59 $14,355,000 $243,305 $5,255 4.51%
    39% 52 $14,220,000 $273,462 $5,109 4.36%
    41% 48 $12,180,000 $253,750 $5,523 4.62%
    43% 43 $10,615,000 $246,860 $4,502 4.68%
    42% 42 $12,600,000 $300,000 $4,780 4.38%
    40% 41 $9,875,000 $240,854 $4,512 4.27%
    47% 39 $9,755,000 $250,128 $5,294 4.26%
    38% 38 $9,700,000 $255,263 $4,072 4.31%
    37% 37 $9,985,000 $269,865 $4,615 4.29%
    45% 34 $9,610,000 $282,647 $5,714 4.40%
    48% 32 $8,200,000 $256,250 $5,289 4.40%
    36% 31 $8,055,000 $259,839 $5,070 4.35%
    49% 31 $7,335,000 $236,613 $4,567 4.42%
    46% 25 $6,885,000 $275,400 $5,288 4.15%
    50-60% 24 $6,260,000 $260,833 $7,734 4.07%
    >60% 2 $500,000 $250,000 $7,690 4.13%

    Suburban Mortgage lent most frequently to those with DTI ratios of 30-36%, with 205 originations. The next most common DTI ratio? 20-30%, with 199 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 938 $245,200,000 $261,407 $4,784 4.30%
    Not provided 45 $11,905,000 $264,556 $3,778 4.11%
    Asian 32 $8,560,000 $267,500 $4,434 4.34%
    Black 25 $6,395,000 $255,800 $5,294 4.28%
    American Indian 7 $1,985,000 $283,571 $6,761 4.55%
    Native Hawaiian or Islander 4 $950,000 $237,500 $4,382 3.72%
    Chinese 2 $680,000 $340,000 $5,321 4.63%
    Asian Indian 2 $450,000 $225,000 $0 4.25%
    Filipino 1 $335,000 $335,000 $10,619 3.38%

    Approval Rates

    Total approvals of all applications
    98.11%

    Suburban 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
    78.79%

    Suburban Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,056 $276,460,000 $261,799

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 20 $3,210,000 $160,500
    Single Family (1-4 Units):Site-Built 1,036 $273,250,000 $263,755

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $1,830,000 $130,714 $3,185 4.13%
    40-60% 65 $13,465,000 $207,154 $3,265 4.06%
    60-80% 340 $88,500,000 $260,294 $3,820 4.26%
    80-100% 614 $165,500,000 $269,544 $5,291 4.36%
    Over 100% 23 $7,165,000 $311,522 $8,058 3.83%