Suncoast Credit Union Mortgage Rates, Fees & Info

Tampa, FL

LEI: 549300TOOOOW36EX6R40

Tax ID: 59-0291451

5 stars - out of 5 stars, based on 95 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Suncoast Credit Union is a small credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Suncoast Credit Union has a high proportion of conventional loans. Their top markets include Tampa, Cape Coral, North Port, Naples, and Punta Gorda among others. Suncoast Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Suncoast Credit Union is typically a low fee lendor.


Originations

9,009

Origination Dollar Volume (All Markets)

$1,276,255,000
Show all (28) awards

Relative Rate

Suncoast Credit Union's average 30 year fixed rate mortgage of loans were 2.93%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.22%.

Relative Fees

Suncoast Credit Union's average total fees for a 30 year fixed rate mortgage are $2,948.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3,875 $559,665,000 $144,430 $2,531 3.19%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2,126 $292,240,000 $137,460 $2,483 3.21%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 862 $118,100,000 $137,007 $2,580 3.27%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 641 $104,905,000 $163,658 $2,677 3.23%
PUNTA GORDA, FL (FHA|USDA|VA) 419 $50,695,000 $120,990 $2,399 3.26%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 403 $43,245,000 $107,308 $2,371 3.29%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 145 $19,425,000 $133,966 $2,739 3.26%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 68 $15,880,000 $233,529 $3,135 2.92%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 71 $13,085,000 $184,296 $2,899 2.99%
THE VILLAGES, FL (FHA|USDA|VA) 63 $9,725,000 $154,365 $2,627 3.29%
Clewiston, FL (FHA|USDA|VA) 54 $7,820,000 $144,815 $2,684 3.19%
OCALA, FL (FHA|USDA|VA) 44 $5,680,000 $129,091 $2,813 2.99%
JACKSONVILLE, FL (FHA|USDA|VA) 25 $4,995,000 $199,800 $2,992 2.90%
GAINESVILLE, FL (FHA|USDA|VA) 37 $4,975,000 $134,459 $2,222 2.98%
Outside of Metro Areas 27 $4,205,000 $155,741 $2,243 2.73%
Wauchula, FL (FHA|USDA|VA) 32 $3,330,000 $104,063 $2,327 2.92%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 25 $2,955,000 $118,200 $2,292 3.21%
Arcadia, FL (FHA|USDA|VA) 24 $2,660,000 $110,833 $2,494 3.43%
TALLAHASSEE, FL (FHA|USDA|VA) 15 $2,635,000 $175,667 $2,284 2.82%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 13 $1,855,000 $142,692 $2,285 2.60%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 7 $1,455,000 $207,857 $2,235 2.39%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $1,400,000 $700,000 $4,171 2.75%
PORT ST. LUCIE, FL (FHA|USDA|VA) 7 $1,025,000 $146,429 $2,144 2.52%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 4 $620,000 $155,000 $2,701 3.59%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $470,000 $235,000 $2,303 2.56%
Okeechobee, FL (FHA|USDA|VA) 2 $470,000 $235,000 $1,790 2.63%
ASHEVILLE, NC (FHA|USDA|VA) 2 $380,000 $190,000 $2,569 2.63%
Lake City, FL (FHA|USDA|VA) 2 $340,000 $170,000 $3,934 3.31%
COLUMBIA, SC (FHA|USDA|VA) 1 $325,000 $325,000 $3,093 2.63%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $270,000 $135,000 $1,486 2.56%
PANAMA CITY, FL (FHA|USDA|VA) 1 $265,000 $265,000 $1,875 2.13%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $215,000 $215,000 $2,523 2.63%
MORRISTOWN, TN (FHA|USDA|VA) 1 $195,000 $195,000 $2,732 2.63%
Toccoa, GA (FHA|USDA|VA) 1 $165,000 $165,000 $2,844 2.63%
Sevierville, TN (FHA|USDA|VA) 1 $155,000 $155,000 $2,332 2.63%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $155,000 $155,000 $2,705 2.63%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $125,000 $125,000 $2,716 2.75%
BURLINGTON, NC (FHA|USDA|VA) 1 $105,000 $105,000 $1,320 2.63%
Palatka, FL (FHA|USDA|VA) 1 $45,000 $45,000 $1,933 2.50%

Suncoast Credit Union's top markets include Tampa, Cape Coral, North Port, Naples, and Punta Gorda among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 9,009 $1,276,255,000 $141,664 $2,533 3.20%

For the 2021 period, Suncoast Credit Union's most frequently originated loan type of loans were Conventional, with 9,009 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 2,315 $457,255,000 $197,518 $2,630 2.63%
Refi 2,186 $343,810,000 $157,278 $2,010 2.77%
Home Improvement 1,861 $110,925,000 $59,605 $2,615 4.13%
Other 1,331 $95,925,000 $72,070 $2,102 3.91%
Home Purchase 1,316 $268,340,000 $203,906 $3,222 2.93%

For the 2021, Suncoast Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 2,315 originations. The 2nd most popular reason of loans were Refi, with 2,186 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 2,501 $539,105,000 $215,556 $2,948 2.93%
15 Year 2,320 $303,520,000 $130,828 $2,165 3.15%
Other 1,596 $102,430,000 $64,179 $1,878 4.02%
20 Year 1,298 $242,500,000 $186,826 $2,357 2.75%
10 Year 940 $77,460,000 $82,404 $1,930 3.20%
5 Year 352 $11,110,000 $31,563 $0 3.47%
1 Year 2 $130,000 $65,000 $0 5.50%

For the 2021, Suncoast Credit Union's most frequently cited loan length of loans were 30 Year, with 2,501 originations. The 2nd most popular length of loans were 15 Year, with 2,320 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 5,115 $976,005,000 $190,812
$2k-3k 228 $42,150,000 $184,868
$1k-2k 224 $33,490,000 $149,509
$3k-4k 110 $31,760,000 $288,727
$5k+ 18 $8,730,000 $485,000

$2,948 of loans were Suncoast Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 5,115 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 3,667 $717,545,000 $195,676
3-4% 2,744 $210,410,000 $76,680
<2.5% 1,987 $319,925,000 $161,009
5-6% 453 $22,085,000 $48,753
4-5% 81 $2,485,000 $30,679
7-8% 70 $3,650,000 $52,143
6-7% 7 $155,000 $22,143

During 2021, Suncoast Credit Union's average interest rate of loans were 2.93%, while their most frequently originated rate bucket of loans were 2.5-3%, with 3,667 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 3,747 $191,605,000 $51,136 $1,826 3.81%
$100k-200k 3,022 $443,120,000 $146,631 $2,300 2.79%
$200k-400k 2,032 $531,390,000 $261,511 $2,935 2.74%
$400k-600k 161 $75,875,000 $471,273 $4,422 2.67%
$600k-1MM 46 $33,260,000 $723,043 $5,161 2.94%
$1MM+ 1 $1,005,000 $1,005,000 $4,759 2.63%

2021 saw Suncoast Credit Union place emphasis on $100,000 or less loans with 3,747 originations, totaling $191,605,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 2,537 $317,265,000 $125,055 $2,451 3.16%
$100k-150k 1,933 $317,845,000 $164,431 $2,660 3.19%
$75k-100k 1,791 $259,415,000 $144,844 $2,550 3.19%
$50k or less 1,642 $152,740,000 $93,021 $2,201 3.19%
$150k-250k 884 $174,670,000 $197,590 $2,991 3.34%
$250k+ 174 $49,680,000 $285,517 $3,627 3.29%

Suncoast Credit Union lent most frequently to those with incomes in the $50k-75k range, with 2,537 originations. The second most popular income band? $100k-150k, with 1,933 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 2,126 $308,740,000 $145,221 $2,550 3.10%
30-36% 1,694 $258,100,000 $152,361 $2,709 3.11%
<20% 659 $86,435,000 $131,161 $2,419 3.00%
50-60% 446 $28,110,000 $63,027 $2,634 4.00%
42% 328 $50,570,000 $154,177 $2,661 3.14%
39% 326 $52,180,000 $160,061 $2,684 3.21%
36% 324 $52,650,000 $162,500 $2,760 3.13%
37% 304 $50,090,000 $164,770 $2,719 3.12%
41% 299 $42,225,000 $141,221 $2,706 3.28%
38% 299 $47,045,000 $157,341 $2,729 3.17%
43% 297 $43,875,000 $147,727 $2,668 3.25%
40% 289 $44,795,000 $155,000 $2,772 3.12%
44% 284 $40,310,000 $141,937 $2,867 3.39%
>60% 227 $18,745,000 $82,577 $2,036 3.81%
45% 167 $21,255,000 $127,275 $2,771 3.69%
46% 150 $16,290,000 $108,600 $2,652 3.59%
47% 143 $15,995,000 $111,853 $2,708 3.69%
48% 102 $12,470,000 $122,255 $2,653 3.64%
49% 101 $10,475,000 $103,713 $2,785 3.75%

Suncoast Credit Union lent most frequently to those with DTI ratios of 20-30%, with 2,126 originations. The next most common DTI ratio? 30-36%, with 1,694 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 6,997 $982,385,000 $140,401 $2,528 3.22%
Not provided 1,316 $194,520,000 $147,812 $2,557 3.14%
Black 503 $68,235,000 $135,656 $2,523 3.18%
Asian 120 $20,040,000 $167,000 $2,506 2.85%
American Indian 27 $3,835,000 $142,037 $2,600 3.19%
Native Hawaiian 15 $2,555,000 $170,333 $2,567 3.29%
Other Pacific Islander 8 $1,280,000 $160,000 $2,821 3.48%
Asian Indian 9 $1,175,000 $130,556 $1,995 2.82%
Other Asian 5 $925,000 $185,000 $2,788 3.40%
Filipino 4 $800,000 $200,000 $3,712 2.97%
Vietnamese 2 $310,000 $155,000 $2,216 4.31%
Not applicable 3 $195,000 $65,000 $0 5.50%

Approval Rates

Total approvals of all applications
76.56%

Suncoast Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
71.95%

Suncoast Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
0.0 4 $90,000 $22,500
NA 9,005 $1,276,165,000 $141,717

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
9,009 $1,276,255,000 $141,664

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 1,574 $147,560,000 $93,748 $1,990 3.33%
40-60% 1,521 $254,955,000 $167,623 $2,276 2.65%
60-80% 2,062 $450,990,000 $218,715 $2,748 2.73%
80-100% 1,242 $282,900,000 $227,778 $3,093 2.83%
Over 100% 5 $1,525,000 $305,000 $1,460 2.93%
Under 20% 2,405 $104,605,000 $43,495 $1,748 4.12%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
SUNCOAST CREDIT UNION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
SUNCOAST CREDIT UNION Conventional home mortgage Trouble during payment process 1 33.3%
SUNCOAST CREDIT UNION Home equity loan or line of credit (HELOC) Trouble during payment process 1 33.3%