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. Their top markets by origination volume include: Phoenix, Prescott Valley, Flagstaff, Tucson, and Show Low among others. We have data for 10 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

    312

    Origination Dollar Volume (All Markets)

    $116,200,000
    Show all (5) 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) 284 $107,900,000 $379,930 $6,100 4.42%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 15 $4,165,000 $277,667 $6,294 4.77%
    FLAGSTAFF, AZ (FHA|USDA|VA) 3 $1,055,000 $351,667 $4,568 4.58%
    TUCSON, AZ (FHA|USDA|VA) 3 $815,000 $271,667 $6,338 4.58%
    Show Low, AZ (FHA|USDA|VA) 2 $550,000 $275,000 $5,437 4.69%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $475,000 $475,000 $3,305 3.88%
    Safford, AZ (FHA|USDA|VA) 1 $385,000 $385,000 $11,671 3.99%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $345,000 $345,000 $10,729 5.75%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $275,000 $275,000 $4,185 3.75%
    Payson, AZ (FHA|USDA|VA) 1 $235,000 $235,000 $7,263 4.75%
    Suburban Mortgage's top markets include Phoenix, Prescott Valley, Flagstaff, Tucson, and Show Low 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.

    First Credit Union
    Similarity Rank: 450
    AERO Federal Credit Union
    Similarity Rank: 894
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 1598
    ARIZONA CENTRAL
    Similarity Rank: 1672
    THE ANDERSON FINANCIAL GROUP, INC.
    Similarity Rank: 1768
    OneAZ Credit Union
    Similarity Rank: 2106
    Opendoor Home Loans LLC
    Similarity Rank: 2180
    SUBURBAN MORTGAGE, INC.
    Similarity Rank: 2600
    CREDIT UNION WEST
    Similarity Rank: 2760
    NuVision Federal Credit Union
    Similarity Rank: 2950

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 253 $94,935,000 $375,237 $5,306 4.44%
    FHA 39 $12,735,000 $326,538 $10,798 4.53%
    VA 20 $8,530,000 $426,500 $8,036 4.22%

    For 2022, Suburban Mortgage's most frequently originated type of loan was Conventional, with 253 originations. Their 2nd most popular type was FHA, with 39 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 215 $84,015,000 $390,767 $6,172 4.54%
    Refi 97 $32,185,000 $331,804 $6,009 4.21%

    For 2022, Suburban Mortgage's most frequently cited loan purpose was Home Purchase, with 215 originations. The 2nd most popular reason was Refi, with 97 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 296 $111,060,000 $375,203 $6,246 4.48%
    15 Year 11 $3,645,000 $331,364 $4,057 3.75%
    20 Year 4 $1,180,000 $295,000 $4,076 3.66%
    Other 1 $315,000 $315,000 $3,146 3.63%

    For 2022, Suburban Mortgage's most frequently cited loan duration was 30 Year, with 296 originations. The 2nd most popular length was 15 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 125 $46,725,000 $373,800
    $5k+ 59 $23,915,000 $405,339
    $2k-3k 45 $14,845,000 $329,889
    $<1k 29 $12,075,000 $416,379
    $3k-4k 29 $9,655,000 $332,931
    $4k-5k 25 $8,985,000 $359,400

    Suburban Mortgage's average total fees were $6,246, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 125 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 107 $40,115,000 $374,907
    4-5% 103 $37,675,000 $365,777
    5-6% 81 $29,385,000 $362,778
    2.5-3% 13 $6,105,000 $469,615
    6-7% 5 $1,635,000 $327,000
    <2.5% 3 $1,285,000 $428,333

    During 2022, Suburban Mortgage's average interest rate for loans was 4.48%, while their most frequently originated rate bucket for loans was 3-4%, with 107 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 168 $52,010,000 $309,583 $5,975 4.43%
    $400k-600k 92 $43,890,000 $477,065 $6,690 4.40%
    $100k-200k 27 $4,115,000 $152,407 $3,951 4.52%
    $600k-1MM 22 $14,280,000 $649,091 $7,616 4.51%
    $100,000 or less 2 $180,000 $90,000 $4,534 5.62%
    $1MM+ 1 $1,725,000 $1,725,000 $0 3.00%

    2022 saw Suburban Mortgage place emphasis on $200k-400k loans with 168 originations, totaling $52,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 87 $35,405,000 $406,954 $6,120 4.43%
    $50k-75k 71 $19,575,000 $275,704 $6,094 4.38%
    $75k-100k 63 $23,255,000 $369,127 $6,040 4.51%
    $150k-250k 52 $24,060,000 $462,692 $6,938 4.53%
    $250k+ 21 $10,635,000 $506,429 $6,479 4.51%
    $50k or less 18 $3,270,000 $181,667 $4,121 4.09%

    Suburban Mortgage lent most frequently to those with incomes in the $100k-150k range, with 87 originations. The second most popular income band? $50k-75k, with 71 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 58 $23,090,000 $398,103 $5,105 4.20%
    20-30% 51 $18,575,000 $364,216 $5,915 4.28%
    43% 21 $8,035,000 $382,619 $6,547 4.48%
    42% 18 $7,280,000 $404,444 $5,412 4.51%
    38% 17 $5,785,000 $340,294 $5,859 4.48%
    49% 16 $5,650,000 $353,125 $6,455 4.85%
    41% 16 $5,610,000 $350,625 $5,075 4.43%
    37% 13 $4,325,000 $332,692 $5,746 4.59%
    39% 13 $4,635,000 $356,538 $7,103 4.33%
    44% 13 $5,775,000 $444,231 $7,157 4.79%
    45% 12 $4,630,000 $385,833 $9,152 5.01%
    40% 12 $4,420,000 $368,333 $7,123 4.42%
    48% 11 $3,105,000 $282,273 $5,329 4.57%
    <20% 10 $3,220,000 $322,000 $5,315 4.43%
    50-60% 9 $4,015,000 $446,111 $11,648 4.15%
    47% 8 $3,120,000 $390,000 $5,515 4.48%
    36% 8 $2,780,000 $347,500 $5,118 4.66%
    46% 6 $2,150,000 $358,333 $5,192 4.46%

    Suburban Mortgage lent most frequently to those with DTI ratios of 30-36%, with 58 originations. The next most common DTI ratio? 20-30%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 265 $98,735,000 $372,585 $5,987 4.45%
    Not provided 19 $6,685,000 $351,842 $8,184 3.87%
    Asian 14 $5,540,000 $395,714 $5,172 4.54%
    Black 10 $4,190,000 $419,000 $7,077 4.65%
    American Indian 2 $430,000 $215,000 $8,271 5.50%
    Native Hawaiian or Islander 1 $365,000 $365,000 $6,765 5.63%
    Japanese 1 $255,000 $255,000 $8,564 4.50%

    Approval Rates

    Total approvals of all applications
    98.88%

    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
    59.94%

    Suburban Mortgage 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
    NA 312 $116,200,000 $372,436

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    312 $116,200,000 $372,436

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $3,120,000 $222,857 $4,016 4.39%
    40-60% 41 $11,875,000 $289,634 $4,585 4.47%
    60-80% 109 $41,315,000 $379,037 $6,004 4.38%
    80-100% 146 $59,190,000 $405,411 $6,728 4.47%
    Over 100% 2 $700,000 $350,000 $10,525 4.88%