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 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    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

    1,485

    Origination Dollar Volume (All Markets)

    $475,025,000
    Show all (8) 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) 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%
    Sun American Mortgage Company's top markets include Phoenix, St. George, Lake Havasu City, Cedar City, and Provo 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.

    LA Financial Federal Credit Union
    Similarity Rank: 56
    Jordan Federal Credit Union
    Similarity Rank: 388
    First Credit Union
    Similarity Rank: 450
    Central Bank
    Similarity Rank: 574
    State Bank of Southern Utah
    Similarity Rank: 603
    TRANSWEST CREDIT UNION
    Similarity Rank: 610
    University First Federal Credit Union
    Similarity Rank: 700
    AERO Federal Credit Union
    Similarity Rank: 894
    MORTGAGEONE, INC.
    Similarity Rank: 1386
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 1598

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 949 $329,355,000 $347,055 $6,066 4.86%
    FHA 280 $64,270,000 $229,536 $0 4.02%
    FHA 132 $41,190,000 $312,045 $10,821 4.82%
    VA 83 $30,885,000 $372,108 $9,962 4.53%
    USDA 40 $9,130,000 $228,250 $6,997 4.78%
    Reverse Mortgage 1 $195,000 $195,000 $0 4.01%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 969 $330,935,000 $341,522 $7,000 4.92%
    Cash Out Refi 435 $115,415,000 $265,322 $6,441 4.19%
    Refi 81 $28,675,000 $354,012 $6,504 4.38%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,166 $399,440,000 $342,573 $6,922 4.86%
    Other 284 $66,900,000 $235,563 $16,053 4.04%
    15 Year 27 $6,485,000 $240,185 $4,940 3.76%
    20 Year 8 $2,200,000 $275,000 $4,707 4.13%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 620 $208,290,000 $335,952
    $5k+ 280 $116,420,000 $415,786
    $2k-3k 95 $26,965,000 $283,842
    $3k-4k 87 $23,895,000 $274,655
    $4k-5k 85 $25,835,000 $303,941
    $<1k 37 $9,155,000 $247,432

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 520 $164,440,000 $316,231
    4-5% 374 $122,540,000 $327,647
    5-6% 371 $119,775,000 $322,844
    6-7% 128 $40,900,000 $319,531
    7-8% 47 $12,275,000 $261,170
    2.5-3% 38 $12,350,000 $325,000
    <2.5% 5 $1,925,000 $385,000
    Over 8% 2 $820,000 $410,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 716 $209,910,000 $293,170 $6,795 4.68%
    $400k-600k 329 $156,445,000 $475,517 $8,382 4.63%
    $100k-200k 310 $48,540,000 $156,581 $4,550 4.61%
    $600k-1MM 70 $47,280,000 $675,429 $8,826 4.65%
    $100,000 or less 54 $3,360,000 $62,222 $2,790 5.26%
    $1MM+ 6 $9,490,000 $1,581,667 $16,311 4.94%

    2022 saw Sun American Mortgage Company place emphasis on $200k-400k loans with 716 originations, totaling $209,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 352 $68,380,000 $194,261 $4,798 4.30%
    $50k-75k 303 $83,275,000 $274,835 $6,593 4.64%
    $75k-100k 283 $94,905,000 $335,353 $7,118 4.72%
    $100k-150k 282 $113,200,000 $401,418 $7,684 4.85%
    $150k-250k 160 $70,040,000 $437,750 $7,195 5.18%
    $250k+ 70 $34,670,000 $495,286 $7,459 5.00%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 231 $70,815,000 $306,558 $6,582 4.70%
    20-30% 202 $60,510,000 $299,554 $5,926 4.66%
    <20% 198 $48,180,000 $243,333 $5,598 4.23%
    50-60% 77 $28,275,000 $367,208 $10,558 4.65%
    49% 62 $22,960,000 $370,323 $7,881 4.85%
    43% 62 $22,130,000 $356,935 $6,868 4.67%
    41% 59 $19,675,000 $333,475 $6,297 4.78%
    40% 58 $19,690,000 $339,483 $6,945 4.77%
    42% 54 $19,570,000 $362,407 $6,159 4.94%
    38% 53 $18,545,000 $349,906 $6,600 4.91%
    44% 52 $19,480,000 $374,615 $7,058 4.84%
    45% 52 $16,350,000 $314,423 $7,025 4.59%
    48% 51 $17,945,000 $351,863 $7,985 4.91%
    47% 49 $15,375,000 $313,776 $7,021 4.87%
    37% 46 $15,810,000 $343,696 $6,150 4.90%
    39% 42 $15,790,000 $375,952 $6,323 4.86%
    46% 42 $16,080,000 $382,857 $7,774 4.99%
    36% 42 $12,930,000 $307,857 $6,363 4.73%
    >60% 17 $4,615,000 $271,471 $12,459 4.94%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,282 $405,790,000 $316,529 $6,897 4.66%
    Not provided 138 $47,340,000 $343,043 $6,623 4.79%
    Asian 31 $11,135,000 $359,194 $6,171 4.59%
    American Indian 14 $4,200,000 $300,000 $9,451 4.85%
    Black 12 $4,120,000 $343,333 $8,644 4.73%
    Native Hawaiian or Islander 4 $1,040,000 $260,000 $6,356 4.65%
    Filipino 2 $790,000 $395,000 $3,929 4.12%
    Other Asian 1 $385,000 $385,000 $10,121 7.49%
    Samoan 1 $225,000 $225,000 $6,049 5.63%

    Approval Rates

    Total approvals of all applications
    98.91%

    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
    67.47%

    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 1,485 $475,025,000 $319,882

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,485 $475,025,000 $319,882

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 156 $29,340,000 $188,077 $4,652 4.40%
    40-60% 308 $84,050,000 $272,890 $5,884 4.32%
    60-80% 403 $145,415,000 $360,831 $6,692 4.74%
    80-100% 564 $206,340,000 $365,851 $7,379 4.88%
    Over 100% 20 $7,650,000 $382,500 $15,685 4.39%
    Under 20% 34 $2,230,000 $65,588 $1,777 5.23%