Sun American Mortgage Company Rates, Fees & Info

MESA, AZ

LEI: 549300S7EJRY2DY1UR88

Tax ID: 86-0489049

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

    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 an average proportion of FHA loans. 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: Phoenix, Lake Havasu City, St. George, Provo, and Payson among others. We have data for 20 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 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 6.64% 12/16/24
    30 Year Conventional Refi 6.38% 12/16/24
    30 Year Cash-out Refi 6.63% 12/16/24
    30 Year FHA Purchase 7.29% 12/16/24
    30 Year FHA Refi 7.20% 12/16/24
    30 Year VA Purchase 6.21% 12/16/24
    30 Year VA Refi 6.16% 12/16/24
    30 Year USDA Purchase 6.76% 12/16/24
    15 Year Conventional Purchase 6.26% 12/16/24
    15 Year Conventional Refi 6.03% 12/16/24
    15 Year Cash-out Refi 6.03% 12/16/24
    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

    893

    Origination Dollar Volume (All Markets)

    $183,375,000
    Show all (9) 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) 452 $101,250,000 $224,004 $3,467 4.81%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 202 $29,340,000 $145,248 $3,412 4.91%
    ST. GEORGE, UT (FHA|USDA|VA) 99 $26,245,000 $265,101 $3,633 4.99%
    PROVO-OREM, UT (FHA|USDA|VA) 21 $5,245,000 $249,762 $2,406 4.63%
    Payson, AZ (FHA|USDA|VA) 37 $4,555,000 $123,108 $2,464 5.06%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 15 $2,975,000 $198,333 $3,890 5.02%
    Show Low, AZ (FHA|USDA|VA) 18 $2,770,000 $153,889 $3,762 4.79%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 10 $2,410,000 $241,000 $2,830 4.69%
    Cedar City, UT (FHA|USDA|VA) 7 $1,535,000 $219,286 $5,414 5.09%
    SALT LAKE CITY, UT (FHA|USDA|VA) 4 $1,310,000 $327,500 $5,976 4.19%
    TUCSON, AZ (FHA|USDA|VA) 6 $1,240,000 $206,667 $3,943 4.41%
    FLAGSTAFF, AZ (FHA|USDA|VA) 3 $1,005,000 $335,000 $4,888 4.71%
    Outside of Metro Areas 7 $985,000 $140,714 $1,804 4.92%
    LOGAN, UT-ID (FHA|USDA|VA) 3 $905,000 $301,667 $2,706 4.79%
    ALBUQUERQUE, NM (FHA|USDA|VA) 2 $550,000 $275,000 $3,480 4.56%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $485,000 $485,000 $1,148 4.00%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 2 $230,000 $115,000 $0 5.44%
    YUMA, AZ (FHA|USDA|VA) 2 $170,000 $85,000 $0 4.23%
    Safford, AZ (FHA|USDA|VA) 1 $115,000 $115,000 $121 5.13%
    LAS CRUCES, NM (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.34%
    Sun American Mortgage Company's top markets include Phoenix, Lake Havasu City, St. George, Provo, and Payson among others.

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

    LA Financial Federal Credit Union
    Similarity Rank: 57
    Jordan Federal Credit Union
    Similarity Rank: 294
    State Bank of Southern Utah
    Similarity Rank: 304
    HORIZON COMMUNITY BANK, INC.
    Similarity Rank: 360
    Cache Valley Bank
    Similarity Rank: 702
    IAPPROVE LENDING
    Similarity Rank: 816
    LOGIX FEDERAL CREDIT UNION
    Similarity Rank: 1058
    VANTAGE WEST
    Similarity Rank: 1113
    First Credit Union
    Similarity Rank: 1176
    Triumph Bank
    Similarity Rank: 1224

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 525 $118,435,000 $225,590 $2,791 4.96%
    FHA 125 $22,975,000 $183,800 $5,215 4.86%
    FHA 102 $14,830,000 $145,392 $0 4.62%
    USDA 55 $8,555,000 $155,545 $3,011 4.64%
    VA 54 $12,910,000 $239,074 $5,678 4.68%
    FHA 28 $4,490,000 $160,357 $0 4.56%
    HELOC 2 $410,000 $205,000 n/a 4.69%
    Reverse Mortgage 2 $770,000 $385,000 $0 4.93%

    For 2018, Sun American Mortgage Company's most frequently originated type of loan was Conventional, with 525 originations. Their 2nd most popular type was FHA, with 125 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 693 $147,535,000 $212,893 $3,421 4.88%
    Refi 154 $26,530,000 $172,273 $3,232 4.70%
    Cash Out Refi 39 $7,805,000 $200,128 $3,479 4.95%
    Other 5 $975,000 $195,000 $0 5.38%
    Home Improvement 2 $530,000 $265,000 $5,175 4.50%

    For 2018, Sun American Mortgage Company's most frequently cited loan purpose was Home Purchase, with 693 originations. The 2nd most popular reason was Refi, with 154 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 730 $157,200,000 $215,342 $3,419 4.91%
    Other 132 $20,090,000 $152,197 $0 4.61%
    15 Year 27 $5,285,000 $195,741 $3,293 4.51%
    20 Year 4 $800,000 $200,000 $4,040 4.66%

    For 2018, Sun American Mortgage Company's most frequently cited loan duration was 30 Year, with 730 originations. The 2nd most popular length was Other, with 132 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 369 $79,025,000 $214,160
    $<1k 320 $67,030,000 $209,469
    $2k-3k 26 $5,390,000 $207,308
    $3k-4k 12 $2,750,000 $229,167
    $5k+ 11 $3,505,000 $318,636
    $4k-5k 9 $2,625,000 $291,667

    Sun American Mortgage Company's average total fees were $3,419, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 369 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 605 $128,395,000 $212,223
    5-6% 228 $41,460,000 $181,842
    3-4% 43 $10,735,000 $249,651
    6-7% 15 $2,765,000 $184,333
    7-8% 2 $20,000 $10,000

    During 2018, Sun American Mortgage Company's average interest rate for loans was 4.91%, while their most frequently originated rate bucket for loans was 4-5%, with 605 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 394 $57,850,000 $146,827 $3,099 4.86%
    $200k-400k 348 $93,750,000 $269,397 $3,714 4.81%
    $100,000 or less 99 $7,105,000 $71,768 $2,704 5.04%
    $400k-600k 48 $21,410,000 $446,042 $4,465 4.73%
    $600k-1MM 3 $2,175,000 $725,000 $3,666 5.12%
    $1MM+ 1 $1,085,000 $1,085,000 $6,475 4.00%

    2018 saw Sun American Mortgage Company place emphasis on $100k-200k loans with 394 originations, totaling $57,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 305 $42,685,000 $139,951 $3,046 4.82%
    $50k-75k 252 $48,350,000 $191,865 $3,425 4.85%
    $100k-150k 138 $37,690,000 $273,116 $3,605 4.87%
    $75k-100k 125 $30,605,000 $244,840 $3,585 4.94%
    $150k-250k 46 $14,050,000 $305,435 $3,729 4.85%
    $250k+ 24 $9,260,000 $385,833 $3,516 4.95%

    Sun American Mortgage Company lent most frequently to those with incomes in the $50k or less range, with 305 originations. The second most popular income band? $50k-75k, with 252 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 148 $30,640,000 $207,027 $3,187 4.85%
    30-36% 146 $31,420,000 $215,205 $3,414 4.88%
    <20% 49 $9,695,000 $197,857 $3,082 4.94%
    41% 47 $11,935,000 $253,936 $3,180 4.95%
    44% 40 $9,130,000 $228,250 $3,553 5.11%
    37% 37 $8,025,000 $216,892 $2,798 4.85%
    43% 31 $6,475,000 $208,871 $3,947 4.81%
    39% 29 $5,935,000 $204,655 $2,848 4.99%
    42% 28 $6,300,000 $225,000 $3,730 4.86%
    50-60% 28 $5,560,000 $198,571 $4,605 4.70%
    40% 27 $6,205,000 $229,815 $3,752 4.91%
    45% 27 $4,935,000 $182,778 $3,857 4.75%
    49% 23 $5,275,000 $229,348 $3,360 5.01%
    38% 22 $4,450,000 $202,273 $4,060 4.89%
    47% 21 $4,985,000 $237,381 $3,145 5.05%
    46% 20 $4,210,000 $210,500 $3,098 4.88%
    36% 20 $4,010,000 $200,500 $4,264 4.93%
    48% 16 $3,280,000 $205,000 $3,359 5.07%
    >60% 1 $155,000 $155,000 $0 5.75%

    Sun American Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 148 originations. The next most common DTI ratio? 30-36%, with 146 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 770 $158,270,000 $205,545 $3,378 4.85%
    Not provided 84 $17,360,000 $206,667 $3,694 4.91%
    Asian 12 $2,760,000 $230,000 $3,703 4.96%
    American Indian 12 $1,780,000 $148,333 $3,360 5.06%
    Native Hawaiian or Islander 6 $1,550,000 $258,333 $4,493 4.73%
    Black 7 $1,085,000 $155,000 $2,727 4.98%
    Chinese 1 $295,000 $295,000 $2,419 4.50%
    Filipino 1 $275,000 $275,000 $3,696 5.13%

    Approval Rates

    Total approvals of all applications
    96.27%

    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
    82.98%

    Sun American Mortgage Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 893 $183,375,000 $205,347

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 38 $4,270,000 $112,368
    Single Family (1-4 Units):Site-Built 855 $179,105,000 $209,480

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $4,300,000 $165,385 $3,208 4.88%
    40-60% 172 $25,690,000 $149,360 $3,084 4.68%
    60-80% 177 $40,645,000 $229,633 $3,171 4.91%
    80-100% 497 $107,525,000 $216,348 $3,373 4.89%
    Over 100% 18 $4,960,000 $275,556 $8,224 4.73%
    Under 20% 2 $20,000 $10,000 $405 7.56%