Suburban Mortgage Rates, Fees & Info

PHOENIX, AZ

LEI: 549300PW1OR537MRMS88

Tax ID: 86-0619371

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

    Suburban Mortgage is a smaller mortgage company specializing in Refi and Home Purchase 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 14 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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.76% 11/21/24
    30 Year Conventional Refi 6.72% 11/21/24
    30 Year FHA Purchase 7.59% 11/21/24
    30 Year FHA Refi 7.21% 11/21/24
    30 Year VA Purchase 6.46% 11/21/24
    30 Year VA Refi 6.66% 11/21/24
    15 Year Conventional Purchase 5.72% 11/21/24
    15 Year Conventional Refi 6.17% 11/21/24
    15 Year Cash-out Refi 6.17% 11/21/24
    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.

    Suburban Mortgage Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Suburban Mortgage. 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

    2,002

    Origination Dollar Volume (All Markets)

    $541,590,000

    Awards

    SUBURBAN MORTGAGE 30 Year Conventional Loans bronze SUBURBAN MORTGAGE 30 Year Conventional Loans bronze SUBURBAN MORTGAGE 30 Year Conventional Loans bronze
    Show all (3) 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
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1,883 $510,365,000 $271,038 $3,878 3.13%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 41 $10,475,000 $255,488 $4,300 3.22%
    FLAGSTAFF, AZ (FHA|USDA|VA) 24 $7,470,000 $311,250 $3,300 3.00%
    Show Low, AZ (FHA|USDA|VA) 16 $3,640,000 $227,500 $3,967 3.08%
    TUCSON, AZ (FHA|USDA|VA) 13 $3,285,000 $252,692 $3,825 3.26%
    Payson, AZ (FHA|USDA|VA) 8 $1,510,000 $188,750 $4,564 3.20%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 5 $1,395,000 $279,000 $6,026 3.30%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $760,000 $380,000 $4,046 3.38%
    YUMA, AZ (FHA|USDA|VA) 3 $655,000 $218,333 $5,295 3.08%
    Outside of Metro Areas 3 $565,000 $188,333 $3,183 2.71%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $495,000 $495,000 $4,353 3.88%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $405,000 $405,000 $0 3.38%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $335,000 $335,000 $3,965 2.75%
    Safford, AZ (FHA|USDA|VA) 1 $235,000 $235,000 $4,749 3.25%
    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)

    • 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.

    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 825
    First Credit Union
    Similarity Rank: 1034
    TRI-EMERALD FINANCIAL GROUP, INC.
    Similarity Rank: 1054
    Armed Forces Bank
    Similarity Rank: 1136
    ARIZONA CENTRAL
    Similarity Rank: 1208
    ALTITUDE FINANCIAL CORPORATION
    Similarity Rank: 1218
    INTERSTATE HOME LOAN CENTER, INC.
    Similarity Rank: 2244
    Canyon State Credit Union
    Similarity Rank: 2387
    Western State Bank
    Similarity Rank: 2900
    Bank of Whittier
    Similarity Rank: 3105

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,662 $447,810,000 $269,440 $3,270 3.13%
    FHA 209 $52,805,000 $252,656 $7,704 3.34%
    VA 128 $40,330,000 $315,078 $5,165 2.92%
    USDA 3 $645,000 $215,000 $7,481 2.88%

    For 2020, Suburban Mortgage's most frequently originated type of loan was Conventional, with 1,662 originations. Their 2nd most popular type was FHA, with 209 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,084 $277,860,000 $256,328 $2,975 3.07%
    Home Purchase 918 $263,730,000 $287,288 $4,994 3.21%

    For 2020, Suburban Mortgage's most frequently cited loan purpose was Refi, with 1,084 originations. The 2nd most popular reason was Home Purchase, with 918 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,789 $489,575,000 $273,658 $4,020 3.18%
    15 Year 125 $30,035,000 $240,280 $2,679 2.71%
    20 Year 53 $14,005,000 $264,245 $2,920 2.91%
    Other 26 $6,360,000 $244,615 $3,183 2.96%
    10 Year 9 $1,615,000 $179,444 $2,289 2.46%

    For 2020, Suburban Mortgage's most frequently cited loan duration was 30 Year, with 1,789 originations. The 2nd most popular length was 15 Year, with 125 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,294 $351,890,000 $271,940
    $<1k 332 $90,170,000 $271,596
    $2k-3k 189 $47,315,000 $250,344
    $3k-4k 133 $34,805,000 $261,692
    $4k-5k 36 $11,610,000 $322,500
    $5k+ 18 $5,800,000 $322,222

    Suburban Mortgage's average total fees were $4,020, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,294 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 864 $232,990,000 $269,664
    2.5-3% 804 $220,600,000 $274,378
    <2.5% 231 $64,785,000 $280,455
    4-5% 99 $22,315,000 $225,404
    5-6% 4 $900,000 $225,000

    During 2020, Suburban Mortgage's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 3-4%, with 864 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,298 $359,650,000 $277,080 $4,100 3.13%
    $100k-200k 443 $71,905,000 $162,314 $3,200 3.20%
    $400k-600k 219 $102,745,000 $469,155 $3,958 3.05%
    $100,000 or less 36 $2,980,000 $82,778 $2,712 3.11%
    $600k-1MM 5 $3,275,000 $655,000 $5,856 3.45%
    $1MM+ 1 $1,035,000 $1,035,000 $28,502 3.75%

    2020 saw Suburban Mortgage place emphasis on $200k-400k loans with 1,298 originations, totaling $359,650,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 555 $131,105,000 $236,225 $4,162 3.16%
    $100k-150k 429 $130,425,000 $304,021 $3,792 3.11%
    $75k-100k 389 $107,645,000 $276,722 $3,840 3.16%
    $50k or less 307 $60,575,000 $197,313 $3,777 3.14%
    $150k-250k 228 $77,560,000 $340,175 $3,619 3.09%
    $250k+ 91 $33,405,000 $367,088 $3,904 3.10%

    Suburban Mortgage lent most frequently to those with incomes in the $50k-75k range, with 555 originations. The second most popular income band? $100k-150k, with 429 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 459 $125,095,000 $272,538 $3,447 3.07%
    30-36% 387 $103,605,000 $267,713 $3,691 3.10%
    <20% 190 $51,070,000 $268,789 $3,069 2.98%
    44% 88 $24,120,000 $274,091 $4,390 3.28%
    42% 83 $21,265,000 $256,205 $4,214 3.27%
    43% 83 $23,165,000 $279,096 $4,058 3.34%
    40% 76 $21,970,000 $289,079 $4,544 3.25%
    39% 75 $20,785,000 $277,133 $4,560 3.30%
    41% 74 $19,690,000 $266,081 $4,420 3.16%
    36% 69 $17,385,000 $251,957 $3,888 3.20%
    38% 68 $17,890,000 $263,088 $4,258 3.14%
    37% 67 $18,225,000 $272,015 $4,286 3.17%
    46% 53 $14,465,000 $272,925 $4,601 3.32%
    45% 51 $12,615,000 $247,353 $4,479 3.25%
    49% 42 $10,710,000 $255,000 $4,720 3.24%
    48% 37 $10,955,000 $296,081 $4,091 3.09%
    47% 33 $8,895,000 $269,545 $4,265 3.26%
    50-60% 31 $8,745,000 $282,097 $5,787 3.08%
    >60% 1 $365,000 $365,000 $12,759 2.38%

    Suburban Mortgage lent most frequently to those with DTI ratios of 20-30%, with 459 originations. The next most common DTI ratio? 30-36%, with 387 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,765 $478,535,000 $271,125 $3,877 3.14%
    Not provided 102 $26,150,000 $256,373 $4,052 3.03%
    Asian 65 $18,265,000 $281,000 $3,525 3.11%
    Black 56 $14,640,000 $261,429 $4,406 3.20%
    American Indian 12 $3,450,000 $287,500 $4,457 3.10%
    Other Pacific Islander 1 $325,000 $325,000 $2,410 2.63%
    Japanese 1 $225,000 $225,000 $2,670 2.99%

    Approval Rates

    Total approvals of all applications
    98.54%

    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
    79.52%

    Suburban Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,002 $541,590,000 $270,524

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 21 $3,865,000 $184,048
    Single Family (1-4 Units):Site-Built 1,981 $537,725,000 $271,441

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 81 $14,795,000 $182,654 $2,748 2.88%
    40-60% 268 $62,320,000 $232,537 $2,649 2.90%
    60-80% 775 $213,575,000 $275,581 $3,192 3.17%
    80-100% 857 $244,545,000 $285,350 $4,785 3.20%
    Over 100% 19 $6,205,000 $326,579 $10,492 3.11%
    Under 20% 2 $150,000 $75,000 $1,200 3.06%