Sun American Mortgage Company Rates, Fees & Info
MESA, AZLEI: 549300S7EJRY2DY1UR88
Tax ID: 86-0489049
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Mortgage Data
Review & Overview
Sun American Mortgage Company is a smaller mortgage company specializing in Home Purchase and Refi loans. Sun American Mortgage Company has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. They have an average proportion of FHA loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Phoenix, St. George, Lake Havasu City, Cedar City, and Provo among others. We have data for 29 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.64% | 4/21/24 |
| 30 Year Conventional Refi | 6.38% | 4/21/24 |
| 30 Year Cash-out Refi | 6.63% | 4/21/24 |
| 30 Year FHA Purchase | 7.29% | 4/21/24 |
| 30 Year FHA Refi | 7.20% | 4/21/24 |
| 30 Year VA Purchase | 6.21% | 4/21/24 |
| 30 Year VA Refi | 6.16% | 4/21/24 |
| 30 Year USDA Purchase | 6.76% | 4/21/24 |
| 15 Year Conventional Purchase | 6.26% | 4/21/24 |
| 15 Year Conventional Refi | 6.03% | 4/21/24 |
| 15 Year Cash-out Refi | 6.03% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
3,054Origination Dollar Volume (All Markets)
$795,060,000Awards
SUN AMERICAN MORTGAGE COMPANY - 2020
SUN AMERICAN MORTGAGE COMPANY is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 1,181 | $343,345,000 | $290,724 | $3,710 | 3.13% |
| ST. GEORGE, UT (FHA|USDA|VA) | 772 | $214,810,000 | $278,251 | $5,079 | 3.23% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 411 | $76,975,000 | $187,287 | $4,509 | 3.22% |
| Outside of Metro Areas | 177 | $33,015,000 | $186,525 | $4,169 | 3.49% |
| Cedar City, UT (FHA|USDA|VA) | 139 | $29,275,000 | $210,612 | $4,385 | 3.37% |
| PROVO-OREM, UT (FHA|USDA|VA) | 89 | $24,955,000 | $280,393 | $5,276 | 3.25% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 48 | $14,920,000 | $310,833 | $5,134 | 3.20% |
| Payson, AZ (FHA|USDA|VA) | 76 | $12,960,000 | $170,526 | $3,872 | 3.17% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 37 | $10,045,000 | $271,486 | $3,235 | 3.29% |
| Show Low, AZ (FHA|USDA|VA) | 31 | $7,345,000 | $236,935 | $3,700 | 3.14% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 14 | $4,160,000 | $297,143 | $4,998 | 3.12% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 13 | $4,005,000 | $308,077 | $4,465 | 3.06% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 8 | $2,670,000 | $333,750 | $3,442 | 3.05% |
| TUCSON, AZ (FHA|USDA|VA) | 9 | $2,545,000 | $282,778 | $3,509 | 3.04% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 6 | $2,420,000 | $403,333 | $3,322 | 2.98% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 6 | $2,300,000 | $383,333 | $3,758 | 3.23% |
| LAS CRUCES, NM (FHA|USDA|VA) | 11 | $2,145,000 | $195,000 | $3,121 | 2.74% |
| LOGAN, UT-ID (FHA|USDA|VA) | 7 | $1,895,000 | $270,714 | $4,533 | 2.87% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $3,313 | 3.38% |
| VISALIA, CA (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $3,651 | 3.33% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $0 | 3.22% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $0 | 2.61% |
| Safford, AZ (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $5,142 | 3.00% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $16,838 | 2.25% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,300 | 2.50% |
| Price, UT (FHA|USDA|VA) | 4 | $330,000 | $82,500 | $3,387 | 4.09% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,192 | 2.75% |
| Heber, UT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,401 | 3.85% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,697 | 3.50% |
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.
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Product Mix
For 2020, Sun American Mortgage Company's most frequently originated type of loan was Conventional, with 2,265 originations. Their 2nd most popular type was FHA, with 296 originations.
Loan Reason
For 2020, Sun American Mortgage Company's most frequently cited loan purpose was Home Purchase, with 1,544 originations. The 2nd most popular reason was Refi, with 1,020 originations.
Loan Duration/Length
For 2020, Sun American Mortgage Company's most frequently cited loan duration was 30 Year, with 2,604 originations. The 2nd most popular length was Other, with 251 originations.
Origination Fees/Closing Costs
Sun American Mortgage Company's average total fees were $4,432, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,016 originations.
Interest Rates
During 2020, Sun American Mortgage Company's average interest rate for loans was 3.24%, while their most frequently originated rate bucket for loans was 3-4%, with 1,413 originations.
Loan Sizing
2020 saw Sun American Mortgage Company place emphasis on $200k-400k loans with 1,743 originations, totaling $496,105,000 in origination value.
Applicant Income
Sun American Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 838 originations. The second most popular income band? $50k or less, with 755 originations.
Applicant Debt to Income Ratio
Sun American Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 652 originations. The next most common DTI ratio? 30-36%, with 512 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.51%
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 origination87.39%
Sun American Mortgage Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,054 | $795,060,000 | $260,334 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 101 | $14,195,000 | $140,545 |
| Single Family (1-4 Units):Site-Built | 2,953 | $780,865,000 | $264,431 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SUN AMERICAN MORTGAGE | FHA mortgage | Struggling to pay mortgage | 1 | 50.0% |
| SUN AMERICAN MORTGAGE | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |