Sun American Mortgage Company Rates, Fees & InfoMESA, AZ
Tax ID: 86-0489049
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewSun 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, Cedar City, and Provo among others. We have data for 27 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.64%||6/4/23|
|30 Year Conventional Refi||6.38%||6/4/23|
|30 Year Cash-out Refi||6.63%||6/4/23|
|30 Year FHA Purchase||7.29%||6/4/23|
|30 Year FHA Refi||7.20%||6/4/23|
|30 Year VA Purchase||6.21%||6/4/23|
|30 Year VA Refi||6.16%||6/4/23|
|30 Year USDA Purchase||6.76%||6/4/23|
|15 Year Conventional Purchase||6.26%||6/4/23|
|15 Year Conventional Refi||6.03%||6/4/23|
|15 Year Cash-out Refi||6.03%||6/4/23|
|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 EstimatesEstimated 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™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$475,025,000
SUN AMERICAN MORTGAGE COMPANY - 2022
SUN AMERICAN MORTGAGE COMPANY is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Sun American Mortgage Company's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.1%.
Relative Fees (Closing Costs)
Sun American Mortgage Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,922.
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.
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)||446||$141,480,000||$317,220||$6,346||4.37%|
|ST. GEORGE, UT (FHA|USDA|VA)||361||$141,175,000||$391,066||$8,129||4.73%|
|LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA)||236||$54,660,000||$231,610||$6,008||5.05%|
|Cedar City, UT (FHA|USDA|VA)||86||$26,890,000||$312,674||$7,132||4.69%|
|PROVO-OREM, UT (FHA|USDA|VA)||65||$26,885,000||$413,615||$7,032||4.32%|
|Outside of Metro Areas||69||$16,685,000||$241,812||$5,830||4.76%|
|SALT LAKE CITY, UT (FHA|USDA|VA)||33||$13,595,000||$411,970||$6,573||4.99%|
|LAS CRUCES, NM (FHA|USDA|VA)||47||$13,245,000||$281,809||$6,474||4.57%|
|Payson, AZ (FHA|USDA|VA)||41||$8,515,000||$207,683||$6,523||5.09%|
|Show Low, AZ (FHA|USDA|VA)||22||$6,710,000||$305,000||$5,105||4.35%|
|FLAGSTAFF, AZ (FHA|USDA|VA)||16||$5,790,000||$361,875||$9,672||5.01%|
|PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA)||16||$3,990,000||$249,375||$8,304||4.80%|
|OGDEN-CLEARFIELD, UT (FHA|USDA|VA)||8||$2,810,000||$351,250||$4,924||5.17%|
|TUCSON, AZ (FHA|USDA|VA)||8||$2,670,000||$333,750||$7,101||4.18%|
|LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA)||9||$2,455,000||$272,778||$5,462||5.76%|
|Safford, AZ (FHA|USDA|VA)||6||$1,550,000||$258,333||$6,396||5.40%|
|LOGAN, UT-ID (FHA|USDA|VA)||4||$1,210,000||$302,500||$5,150||4.00%|
|Heber, UT (FHA|USDA|VA)||2||$1,200,000||$600,000||$6,135||4.81%|
|SANTA FE, NM (FHA|USDA|VA)||1||$635,000||$635,000||$3,259||4.50%|
|SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA)||2||$540,000||$270,000||$11,274||5.25%|
|RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA)||1||$535,000||$535,000||$12,892||4.38%|
|SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA)||1||$455,000||$455,000||$4,019||6.13%|
|Carlsbad-Artesia, NM (FHA|USDA|VA)||1||$375,000||$375,000||$11,010||6.25%|
|Alamogordo, NM (FHA|USDA|VA)||1||$345,000||$345,000||$8,179||6.13%|
|Nogales, AZ (FHA|USDA|VA)||1||$275,000||$275,000||$7,414||5.50%|
|Price, UT (FHA|USDA|VA)||1||$195,000||$195,000||$3,435||7.50%|
|ALBUQUERQUE, NM (FHA|USDA|VA)||1||$155,000||$155,000||$6,709||6.25%|
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.
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For 2022, Sun American Mortgage Company's most frequently originated type of loan was Conventional, with 949 originations. Their 2nd most popular type was FHA, with 280 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||435||$115,415,000||$265,322||$6,441||4.19%|
For 2022, Sun American Mortgage Company's most frequently cited loan purpose was Home Purchase, with 969 originations. The 2nd most popular reason was Cash Out Refi, with 435 originations.
For 2022, Sun American Mortgage Company's most frequently cited loan duration was 30 Year, with 1,166 originations. The 2nd most popular length was Other, with 284 originations.
Origination Fees/Closing Costs
Sun American Mortgage Company's average total fees were $6,922, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 620 originations.
During 2022, Sun American Mortgage Company's average interest rate for loans was 4.86%, while their most frequently originated rate bucket for loans was 3-4%, with 520 originations.
2022 saw Sun American Mortgage Company place emphasis on $200k-400k loans with 716 originations, totaling $209,910,000 in origination value.
Sun American Mortgage Company lent most frequently to those with incomes in the $50k or less range, with 352 originations. The second most popular income band? $50k-75k, with 303 originations.
Applicant Debt to Income Ratio
Sun American Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 231 originations. The next most common DTI ratio? 20-30%, with 202 originations.
Approval RatesTotal approvals of all applications
Sun American Mortgage Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
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|