Sun American Mortgage Company Rates, Fees & Info

MESA, AZ

LEI: 549300S7EJRY2DY1UR88

Tax ID: 86-0489049

5 stars - Updated: 6/16/24 - out of 5 stars, based on 27 reviews

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

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Mortgage Data

Review & Overview

Sun American Mortgage Company is a smaller mortgage company specializing in Home Purchase loans. Sun American Mortgage Company has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: St. George, Phoenix, Lake Havasu City, Cedar City, and Payson among others. We have data for 28 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 relatively high 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 6.64% 6/16/24
30 Year Conventional Refi 6.38% 6/16/24
30 Year Cash-out Refi 6.63% 6/16/24
30 Year FHA Purchase 7.29% 6/16/24
30 Year FHA Refi 7.20% 6/16/24
30 Year VA Purchase 6.21% 6/16/24
30 Year VA Refi 6.16% 6/16/24
30 Year USDA Purchase 6.76% 6/16/24
15 Year Conventional Purchase 6.26% 6/16/24
15 Year Conventional Refi 6.03% 6/16/24
15 Year Cash-out Refi 6.03% 6/16/24
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.

Sun American Mortgage Company Mortgage Calculator






Your Estimates

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

This is not an official calculator from Sun American Mortgage Company. 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

717

Origination Dollar Volume (All Markets)

$226,895,000
Show all (15) awards

Relative Rate

Sun American Mortgage Company's average 30 year fixed mortgage rate was 6.63%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.15%.

Relative Fees (Closing Costs)

Sun American Mortgage Company's average total fees/closing costs for a 30 year fixed rate mortgage were $7,921.

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 $9,089.

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
ST. GEORGE, UT (FHA|USDA|VA) 258 $97,550,000 $378,101 $8,411 6.54%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 141 $43,065,000 $305,426 $8,213 6.29%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 90 $19,640,000 $218,222 $7,188 6.70%
Cedar City, UT (FHA|USDA|VA) 27 $8,215,000 $304,259 $9,634 6.75%
Payson, AZ (FHA|USDA|VA) 34 $7,680,000 $225,882 $6,771 6.89%
PROVO-OREM, UT (FHA|USDA|VA) 22 $7,620,000 $346,364 $7,268 6.56%
LAS CRUCES, NM (FHA|USDA|VA) 23 $7,265,000 $315,870 $6,340 6.33%
SALT LAKE CITY, UT (FHA|USDA|VA) 15 $6,305,000 $420,333 $5,622 6.60%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 22 $6,210,000 $282,273 $6,256 7.05%
Outside of Metro Areas 22 $3,960,000 $180,000 $7,381 6.52%
Safford, AZ (FHA|USDA|VA) 15 $3,525,000 $235,000 $8,313 6.86%
FLAGSTAFF, AZ (FHA|USDA|VA) 8 $3,150,000 $393,750 $12,145 6.14%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 6 $2,780,000 $463,333 $7,364 6.53%
Show Low, AZ (FHA|USDA|VA) 6 $2,300,000 $383,333 $9,115 6.56%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 9 $1,715,000 $190,556 $5,224 6.18%
Carlsbad-Artesia, NM (FHA|USDA|VA) 4 $1,050,000 $262,500 $5,600 6.66%
Grants, NM (FHA|USDA|VA) 1 $725,000 $725,000 $17,335 5.99%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 2 $540,000 $270,000 $10,238 7.44%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $505,000 $505,000 $7,426 5.88%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $495,000 $495,000 $6,004 7.50%
Vernal, UT (FHA|USDA|VA) 1 $445,000 $445,000 $8,793 6.50%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $415,000 $415,000 $4,420 6.13%
LOGAN, UT-ID (FHA|USDA|VA) 1 $405,000 $405,000 $10,822 5.00%
Roswell, NM (FHA|USDA|VA) 1 $405,000 $405,000 $2,236 6.13%
TUCSON, AZ (FHA|USDA|VA) 3 $395,000 $131,667 $4,541 6.44%
Taos, NM (FHA|USDA|VA) 1 $225,000 $225,000 $0 5.43%
FARMINGTON, NM (FHA|USDA|VA) 1 $165,000 $165,000 $7,175 7.13%
CHICO, CA (FHA|USDA|VA) 1 $145,000 $145,000 $5,277 7.00%
Sun American Mortgage Company's top markets include St. George, Phoenix, Lake Havasu City, Cedar City, and Payson among others.

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

    State Bank of Southern Utah
    Similarity Rank: 264
    CREDIT UNION WEST
    Similarity Rank: 814
    Cache Valley Bank
    Similarity Rank: 896
    CYPRUS Federal Credit Union
    Similarity Rank: 900
    UTAH COMMUNITY
    Similarity Rank: 900
    Utah Power
    Similarity Rank: 975
    GRANITE FEDERAL CREDIT UNION
    Similarity Rank: 1000
    OneAZ Credit Union
    Similarity Rank: 1020
    Canyon State Credit Union
    Similarity Rank: 1020
    ARIZONA CENTRAL
    Similarity Rank: 1166

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 445 $149,025,000 $334,888 $6,043 6.70%
    FHA 141 $46,615,000 $330,603 $12,713 6.47%
    FHA 66 $10,510,000 $159,242 $0 5.78%
    VA 45 $16,515,000 $367,000 $11,491 6.30%
    USDA 18 $4,060,000 $225,556 $7,225 6.67%
    FHA 2 $170,000 $85,000 $0 5.65%

    For 2023, Sun American Mortgage Company's most frequently originated type of loan was Conventional, with 445 originations. Their 2nd most popular type was FHA, with 141 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 608 $200,890,000 $330,411 $7,839 6.60%
    Cash Out Refi 89 $19,725,000 $221,629 $9,247 6.14%
    Refi 20 $6,280,000 $314,000 $7,652 6.74%

    For 2023, Sun American Mortgage Company's most frequently cited loan purpose was Home Purchase, with 608 originations. The 2nd most popular reason was Cash Out Refi, with 89 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 643 $214,385,000 $333,414 $7,921 6.63%
    Other 68 $10,680,000 $157,059 $0 5.78%
    15 Year 6 $1,830,000 $305,000 $5,429 6.33%

    For 2023, Sun American Mortgage Company's most frequently cited loan duration was 30 Year, with 643 originations. The 2nd most popular length was Other, with 68 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 313 $105,555,000 $337,236
    $5k+ 169 $66,355,000 $392,633
    $4k-5k 52 $16,770,000 $322,500
    $2k-3k 46 $13,870,000 $301,522
    $3k-4k 38 $10,710,000 $281,842
    $<1k 31 $2,955,000 $95,323

    Sun American Mortgage Company's average total fees were $7,921, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 313 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 333 $109,195,000 $327,913
    7-8% 189 $57,595,000 $304,735
    5-6% 179 $55,915,000 $312,374
    4-5% 11 $3,115,000 $283,182
    Over 8% 4 $1,060,000 $265,000
    3-4% 1 $15,000 $15,000

    During 2023, Sun American Mortgage Company's average interest rate for loans was 6.63%, while their most frequently originated rate bucket for loans was 6-7%, with 333 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 341 $102,325,000 $300,073 $8,280 6.55%
    $400k-600k 145 $69,295,000 $477,897 $9,451 6.48%
    $100k-200k 124 $19,760,000 $159,355 $5,163 6.52%
    $100,000 or less 61 $3,215,000 $52,705 $1,855 6.59%
    $600k-1MM 44 $29,970,000 $681,136 $11,501 6.66%
    $1MM+ 2 $2,330,000 $1,165,000 $5,013 6.56%

    2023 saw Sun American Mortgage Company place emphasis on $200k-400k loans with 341 originations, totaling $102,325,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 189 $55,565,000 $293,995 $8,490 6.54%
    $100k-150k 164 $58,890,000 $359,085 $7,462 6.70%
    $50k-75k 121 $29,015,000 $239,793 $7,544 6.49%
    $150k-250k 101 $46,535,000 $460,743 $8,315 6.81%
    $50k or less 100 $15,580,000 $155,800 $5,601 6.05%
    $250k+ 39 $20,385,000 $522,692 $9,484 6.69%

    Sun American Mortgage Company lent most frequently to those with incomes in the $75k-100k range, with 189 originations. The second most popular income band? $100k-150k, with 164 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 89 $26,445,000 $297,135 $7,097 6.54%
    <20% 84 $14,070,000 $167,500 $4,538 6.44%
    20-30% 72 $21,580,000 $299,722 $6,030 6.41%
    50-60% 69 $24,205,000 $350,797 $12,464 6.35%
    45% 40 $15,920,000 $398,000 $10,185 6.52%
    46% 36 $12,380,000 $343,889 $6,966 6.89%
    42% 32 $11,250,000 $351,563 $7,873 6.62%
    49% 32 $11,940,000 $373,125 $7,767 6.47%
    41% 30 $10,500,000 $350,000 $6,420 6.69%
    40% 29 $9,035,000 $311,552 $7,598 6.82%
    38% 28 $9,000,000 $321,429 $8,447 6.76%
    47% 27 $8,625,000 $319,444 $8,223 6.51%
    43% 26 $10,280,000 $395,385 $8,840 6.54%
    48% 26 $9,050,000 $348,077 $7,759 6.63%
    44% 25 $8,935,000 $357,400 $7,331 6.61%
    39% 25 $9,505,000 $380,200 $8,310 6.66%
    37% 19 $8,525,000 $448,684 $8,208 6.79%
    36% 14 $3,310,000 $236,429 $7,710 6.60%
    >60% 5 $1,115,000 $223,000 $4,583 5.97%

    Sun American Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 89 originations. The next most common DTI ratio? <20%, with 84 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 602 $188,010,000 $312,309 $7,818 6.55%
    Not provided 66 $23,040,000 $349,091 $8,288 6.63%
    Asian 21 $6,945,000 $330,714 $7,925 6.53%
    Black 11 $3,475,000 $315,909 $7,832 6.22%
    American Indian 9 $2,345,000 $260,556 $6,888 6.78%
    Native Hawaiian or Islander 4 $1,620,000 $405,000 $11,617 6.47%
    Not applicable 1 $405,000 $405,000 $0 4.93%
    Other Asian 1 $375,000 $375,000 $15,980 6.38%
    Filipino 1 $345,000 $345,000 $10,277 4.88%
    Korean 1 $335,000 $335,000 $9,146 5.38%

    Approval Rates

    Total approvals of all applications
    99.40%

    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
    38.08%

    Sun American Mortgage Company 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 717 $226,895,000 $316,450

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    717 $226,895,000 $316,450

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 65 $10,715,000 $164,846 $4,299 6.18%
    40-60% 93 $24,915,000 $267,903 $6,137 6.28%
    60-80% 139 $49,695,000 $357,518 $7,171 6.77%
    80-100% 359 $132,495,000 $369,067 $9,010 6.58%
    Over 100% 18 $7,010,000 $389,444 $15,618 6.34%
    Under 20% 43 $2,065,000 $48,023 $714 6.73%