Sun American Mortgage Company Rates, Fees & Info

MESA, AZ

LEI: 549300S7EJRY2DY1UR88

Tax ID: 86-0489049

4.7 stars - out of 5 stars, based on 54 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Sun American Mortgage Company is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Sun American Mortgage Company has a high proportion of conventional loans. They have an average proportion of FHA 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, St. George, Lake Havasu City, Provo, and Cedar City among others. We have data for 31 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Sun American Mortgage Company 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. Sun American Mortgage Company 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.

    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% 10/3/22
    30 Year Conventional Refi 6.48% 10/3/22
    30 Year Cash-out Refi 6.70% 10/3/22
    30 Year FHA Purchase 7.42% 10/3/22
    30 Year FHA Refi 7.14% 10/3/22
    30 Year VA Purchase 6.40% 10/3/22
    30 Year VA Refi 5.87% 10/3/22
    30 Year USDA Purchase 6.71% 10/3/22
    30 Year USDA Refi 6.33% 10/3/22
    15 Year Conventional Purchase 6.55% 10/3/22
    15 Year Conventional Refi 6.36% 10/3/22
    15 Year Cash-out Refi 6.36% 10/3/22
    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.


    Originations

    2,888

    Origination Dollar Volume (All Markets)

    $869,860,000
    Show all (5) awards

    Relative Rate

    Sun American Mortgage Company's average 30 year fixed mortgage rate was 3.2%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.05%.

    Relative Fees (Closing Costs)

    Sun American Mortgage Company's average total fees/closing costs for a 30 year fixed rate mortgage were $4,935.

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

    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) 894 $317,920,000 $355,615 $4,190 3.13%
    ST. GEORGE, UT (FHA|USDA|VA) 849 $272,705,000 $321,207 $5,361 3.18%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 454 $94,210,000 $207,511 $4,773 3.16%
    PROVO-OREM, UT (FHA|USDA|VA) 112 $36,330,000 $324,375 $5,058 3.18%
    Outside of Metro Areas 151 $30,835,000 $204,205 $4,752 3.25%
    Cedar City, UT (FHA|USDA|VA) 111 $28,765,000 $259,144 $4,957 3.26%
    LAS CRUCES, NM (FHA|USDA|VA) 68 $16,940,000 $249,118 $4,783 3.06%
    SALT LAKE CITY, UT (FHA|USDA|VA) 38 $13,970,000 $367,632 $4,958 3.10%
    Payson, AZ (FHA|USDA|VA) 72 $13,600,000 $188,889 $4,595 3.21%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 27 $9,115,000 $337,593 $4,087 3.22%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 25 $8,245,000 $329,800 $5,265 3.12%
    FLAGSTAFF, AZ (FHA|USDA|VA) 11 $5,195,000 $472,273 $7,096 3.21%
    Show Low, AZ (FHA|USDA|VA) 21 $4,785,000 $227,857 $5,050 3.30%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 6 $2,920,000 $486,667 $7,495 3.31%
    TUCSON, AZ (FHA|USDA|VA) 13 $2,815,000 $216,538 $4,337 3.10%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $1,630,000 $815,000 $0 3.06%
    Price, UT (FHA|USDA|VA) 5 $1,375,000 $275,000 $6,042 3.15%
    Heber, UT (FHA|USDA|VA) 2 $1,320,000 $660,000 $4,314 2.81%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $1,140,000 $570,000 $5,708 3.17%
    Vernal, UT (FHA|USDA|VA) 6 $960,000 $160,000 $4,964 3.56%
    Safford, AZ (FHA|USDA|VA) 4 $770,000 $192,500 $3,185 3.48%
    Taos, NM (FHA|USDA|VA) 1 $625,000 $625,000 $0 3.35%
    YUMA, AZ (FHA|USDA|VA) 3 $605,000 $201,667 $5,095 3.23%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $535,000 $535,000 $0 3.06%
    Carlsbad-Artesia, NM (FHA|USDA|VA) 2 $530,000 $265,000 $3,955 2.63%
    LOGAN, UT-ID (FHA|USDA|VA) 2 $410,000 $205,000 $2,928 3.25%
    ALBUQUERQUE, NM (FHA|USDA|VA) 2 $370,000 $185,000 $2,858 2.63%
    VISALIA, CA (FHA|USDA|VA) 1 $355,000 $355,000 $4,719 3.75%
    Los Alamos, NM (FHA|USDA|VA) 1 $345,000 $345,000 $4,433 2.88%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $335,000 $335,000 $4,430 3.99%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $205,000 $205,000 $3,688 3.25%

    Sun American Mortgage Company's top markets include Phoenix, St. George, Lake Havasu City, Provo, and Cedar City among others.

    Similar Lenders

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

    LA Financial Federal Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,088 $594,880,000 $284,904 $4,031 3.21%
    FHA 288 $132,950,000 $461,632 $0 3.22%
    FHA 259 $71,275,000 $275,193 $9,510 3.03%
    VA 133 $44,075,000 $331,391 $7,535 2.91%
    USDA 120 $26,680,000 $222,333 $5,943 2.86%

    For 2021, Sun American Mortgage Company's most frequently originated type of loan was Conventional, with 2,088 originations. Their 2nd most popular type was FHA, with 288 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,609 $466,265,000 $289,786 $5,400 3.20%
    Cash Out Refi 725 $260,645,000 $359,510 $4,470 3.25%
    Refi 554 $142,950,000 $258,032 $3,540 2.97%

    For 2021, Sun American Mortgage Company's most frequently cited loan purpose was Home Purchase, with 1,609 originations. The 2nd most popular reason was Cash Out Refi, with 725 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,422 $697,040,000 $287,795 $4,935 3.20%
    Other 300 $135,770,000 $452,567 $3,200 3.21%
    15 Year 126 $27,260,000 $216,349 $3,682 2.65%
    20 Year 37 $9,315,000 $251,757 $3,589 2.94%
    10 Year 3 $475,000 $158,333 $2,453 2.71%

    For 2021, Sun American Mortgage Company's most frequently cited loan duration was 30 Year, with 2,422 originations. The 2nd most popular length was Other, with 300 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,863 $527,975,000 $283,400
    $5k+ 200 $74,150,000 $370,750
    $2k-3k 165 $44,015,000 $266,758
    $3k-4k 146 $40,440,000 $276,986
    $<1k 134 $22,770,000 $169,925
    $4k-5k 91 $27,275,000 $299,725

    Sun American Mortgage Company's average total fees were $4,935, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,863 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,597 $510,065,000 $319,389
    2.5-3% 1,015 $299,845,000 $295,414
    <2.5% 168 $47,960,000 $285,476
    4-5% 90 $11,710,000 $130,111
    5-6% 18 $280,000 $15,556

    During 2021, Sun American Mortgage Company's average interest rate for loans was 3.20%, while their most frequently originated rate bucket for loans was 3-4%, with 1,597 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,573 $460,895,000 $293,004 $5,187 3.11%
    $100k-200k 609 $96,325,000 $158,169 $3,871 3.17%
    $400k-600k 500 $238,620,000 $477,240 $5,654 3.14%
    $100,000 or less 114 $5,260,000 $46,140 $1,776 4.07%
    $600k-1MM 89 $64,115,000 $720,393 $8,273 3.14%
    $1MM+ 3 $4,645,000 $1,548,333 $9,130 3.08%

    2021 saw Sun American Mortgage Company place emphasis on $200k-400k loans with 1,573 originations, totaling $460,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 801 $209,035,000 $260,968 $5,149 3.13%
    $50k or less 675 $188,905,000 $279,859 $4,388 3.20%
    $75k-100k 535 $160,915,000 $300,776 $4,733 3.17%
    $100k-150k 511 $173,035,000 $338,620 $4,763 3.14%
    $150k-250k 255 $93,355,000 $366,098 $4,804 3.22%
    $250k+ 104 $42,040,000 $404,231 $5,537 3.32%

    Sun American Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 801 originations. The second most popular income band? $50k or less, with 675 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 551 $156,945,000 $284,837 $4,143 3.11%
    30-36% 484 $144,520,000 $298,595 $4,760 3.12%
    <20% 377 $120,345,000 $319,218 $3,107 3.39%
    44% 128 $39,990,000 $312,422 $5,112 3.12%
    42% 125 $38,395,000 $307,160 $5,222 3.22%
    43% 115 $35,165,000 $305,783 $4,950 3.18%
    38% 115 $33,225,000 $288,913 $4,955 3.12%
    50-60% 114 $35,360,000 $310,175 $8,683 3.06%
    37% 105 $30,945,000 $294,714 $4,956 3.16%
    41% 103 $30,075,000 $291,990 $4,573 3.18%
    40% 97 $27,805,000 $286,649 $5,217 3.14%
    36% 96 $28,120,000 $292,917 $4,515 3.11%
    39% 92 $27,350,000 $297,283 $4,863 3.22%
    45% 88 $26,130,000 $296,932 $5,379 3.15%
    49% 79 $25,475,000 $322,468 $5,870 3.12%
    46% 76 $21,940,000 $288,684 $5,629 3.11%
    47% 68 $20,170,000 $296,618 $5,216 3.14%
    48% 60 $19,990,000 $333,167 $5,062 3.23%
    >60% 14 $7,620,000 $544,286 $4,983 3.20%

    Sun American Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 551 originations. The next most common DTI ratio? 30-36%, with 484 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,457 $751,595,000 $305,899 $4,820 3.17%
    Not provided 301 $80,785,000 $268,389 $4,701 3.19%
    Asian 48 $15,010,000 $312,708 $4,920 3.09%
    American Indian 34 $8,660,000 $254,706 $5,692 3.25%
    Black 29 $8,385,000 $289,138 $6,215 3.30%
    Native Hawaiian or Islander 12 $3,390,000 $282,500 $6,979 3.08%
    Filipino 4 $940,000 $235,000 $3,504 3.13%
    Other Pacific Islander 1 $485,000 $485,000 $3,804 3.25%
    Other Asian 1 $395,000 $395,000 $10,511 2.88%
    Samoan 1 $215,000 $215,000 $6,245 2.50%

    Approval Rates

    Total approvals of all applications
    98.22%

    Sun American Mortgage Company 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
    85.25%

    Sun American Mortgage Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,888 $869,860,000 $301,198

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,888 $869,860,000 $301,198

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 105 $17,715,000 $168,714 $3,344 2.98%
    40-60% 375 $93,345,000 $248,920 $3,542 3.03%
    60-80% 941 $284,875,000 $302,736 $4,415 3.22%
    80-100% 1,366 $460,350,000 $337,006 $5,806 3.12%
    Over 100% 35 $12,145,000 $347,000 $13,241 2.88%
    Under 20% 66 $1,430,000 $21,667 $665 4.78%