Sun Federal Credit Union Mortgage Rates, Fees & Info

Maumee, OH

LEI: 549300VGZHXNY2T0G559

Tax ID: 34-1300434

5 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Sun Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Sun Federal Credit Union has a high proportion of conventional loans. Their top markets include Toledo, Philadelphia, Reading, Monroe, and New York among others. Sun Federal 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. Sun Federal Credit Union is typically a low fee lendor.


Originations

700

Origination Dollar Volume (All Markets)

$93,720,000

Awards

SUN Federal Credit Union 30 Year Conventional Loans silver SUN Federal Credit Union 30 Year Conventional Loans gold SUN Federal Credit Union 30 Year Conventional Loans gold SUN Federal Credit Union 30 Year Conventional Loans bronze
Show all (4) awards

Relative Rate

Sun Federal Credit Union's average 30 year fixed rate mortgage of loans were 3.61%.

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

This yields a difference of 0.46%.

Relative Fees

Sun Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $2,888.

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
TOLEDO, OH (FHA|USDA|VA) 399 $44,855,000 $112,419 $1,833 3.64%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 129 $21,685,000 $168,101 $2,148 3.86%
READING, PA (FHA|USDA|VA) 41 $4,655,000 $113,537 $2,342 3.74%
MONROE, MI (FHA|USDA|VA) 29 $4,025,000 $138,793 $1,393 3.59%
Outside of Metro Areas 19 $2,805,000 $147,632 $2,631 3.67%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $1,690,000 $845,000 $3,817 3.06%
Fremont, OH (FHA|USDA|VA) 11 $1,035,000 $94,091 $1,589 3.30%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 3 $1,025,000 $341,667 $3,978 3.75%
OCEAN CITY, NJ (FHA|USDA|VA) 4 $970,000 $242,500 $2,596 2.66%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $835,000 $167,000 $2,733 3.28%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $680,000 $340,000 $5,516 3.31%
Adrian, MI (FHA|USDA|VA) 3 $625,000 $208,333 $1,436 3.21%
LANCASTER, PA (FHA|USDA|VA) 3 $595,000 $198,333 $3,653 3.33%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 3 $585,000 $195,000 $0 3.83%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $560,000 $280,000 $5,140 3.19%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $465,000 $465,000 $3,744 3.75%
EAST STROUDSBURG, PA (FHA|USDA|VA) 2 $460,000 $230,000 $3,253 3.44%
JACKSON, MI (FHA|USDA|VA) 1 $405,000 $405,000 $2,475 3.25%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $405,000 $405,000 $0 3.00%
ERIE, PA (FHA|USDA|VA) 1 $395,000 $395,000 $4,690 3.50%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $385,000 $385,000 $4,391 3.50%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $355,000 $118,333 $2,213 3.46%
Bellefontaine, OH (FHA|USDA|VA) 1 $355,000 $355,000 $3,239 3.25%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $275,000 $275,000 $2,271 3.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $265,000 $265,000 $2,190 3.50%
HARRISONBURG, VA (FHA|USDA|VA) 1 $245,000 $245,000 $2,507 3.50%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $235,000 $235,000 $2,692 0.00%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $2,969 3.50%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $205,000 $205,000 $1,857 2.88%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $205,000 $205,000 $2,082 3.00%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $195,000 $195,000 $2,250 3.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $170,000 $85,000 $844 3.25%
Wapakoneta, OH (FHA|USDA|VA) 2 $170,000 $85,000 $1,347 3.25%
Pottsville, PA (FHA|USDA|VA) 1 $165,000 $165,000 $2,909 3.00%
COLUMBUS, OH (FHA|USDA|VA) 2 $160,000 $80,000 $0 4.25%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $145,000 $145,000 $2,594 3.25%
Hillsdale, MI (FHA|USDA|VA) 1 $125,000 $125,000 $1,661 3.00%
PITTSBURGH, PA (FHA|USDA|VA) 1 $125,000 $125,000 $3,027 3.38%
DOVER, DE (FHA|USDA|VA) 1 $115,000 $115,000 $3,224 4.13%
Defiance, OH (FHA|USDA|VA) 1 $115,000 $115,000 $2,272 3.50%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $105,000 $105,000 $3,061 2.63%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $95,000 $95,000 $0 3.50%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $65,000 $65,000 $2,172 2.50%
DuBois, PA (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.50%
ANN ARBOR, MI (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.00%
AKRON, OH (FHA|USDA|VA) 1 $65,000 $65,000 $0 2.50%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $55,000 $55,000 $0 2.50%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $55,000 $55,000 $475 5.00%
Sandusky, OH (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.50%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.50%
Findlay, OH (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.50%
ROCHESTER, NY (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.50%
Tiffin, OH (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.00%

Sun Federal Credit Union's top markets include Toledo, Philadelphia, Reading, Monroe, and New York among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 698 $92,970,000 $133,195 $1,979 3.65%
VA 2 $750,000 $375,000 $4,095 3.00%

For the 2021 period, Sun Federal Credit Union's most frequently originated loan type of loans were Conventional, with 698 originations. Their 2nd most popular type is VA, with 2 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 264 $43,700,000 $165,530 $2,258 3.20%
Home Purchase 162 $31,740,000 $195,926 $3,039 3.59%
Home Improvement 156 $7,570,000 $48,526 $120 3.98%
Other 98 $7,660,000 $78,163 $197 4.47%
Cash Out Refi 20 $3,050,000 $152,500 $2,081 3.41%

For the 2021, Sun Federal Credit Union's most frequently cited loan purpose of loans were Refi, with 264 originations. The 2nd most popular reason of loans were Home Purchase, with 162 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
15 Year 246 $22,100,000 $89,837 $954 3.63%
Other 150 $19,890,000 $132,600 $1,902 3.54%
30 Year 139 $29,085,000 $209,245 $2,888 3.61%
20 Year 117 $20,225,000 $172,863 $2,543 3.45%
10 Year 30 $1,810,000 $60,333 $688 4.33%
5 Year 18 $610,000 $33,889 $143 5.36%

For the 2021, Sun Federal Credit Union's most frequently cited loan length of loans were 15 Year, with 246 originations. The 2nd most popular length of loans were Other, with 150 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 543 $81,765,000 $150,580
$1k-2k 5 $595,000 $119,000
$3k-4k 1 $605,000 $605,000

$2,888 of loans were Sun Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 543 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 308 $44,340,000 $143,961
2.5-3% 123 $25,755,000 $209,390
4-5% 105 $8,075,000 $76,905
<2.5% 104 $11,810,000 $113,558
5-6% 36 $2,380,000 $66,111
7-8% 7 $305,000 $43,571
Over 8% 7 $175,000 $25,000
6-7% 6 $170,000 $28,333

During 2021, Sun Federal Credit Union's average interest rate of loans were 3.61%, while their most frequently originated rate bucket of loans were 3-4%, with 308 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 332 $16,670,000 $50,211 $929 4.03%
$100k-200k 226 $32,270,000 $142,788 $2,372 3.36%
$200k-400k 117 $30,975,000 $264,744 $2,777 3.22%
$400k-600k 18 $8,480,000 $471,111 $3,857 3.28%
$600k-1MM 6 $4,080,000 $680,000 $6,475 3.41%
$1MM+ 1 $1,245,000 $1,245,000 $0 2.63%

2021 saw Sun Federal Credit Union place emphasis on $100,000 or less loans with 332 originations, totaling $16,670,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 186 $27,250,000 $146,505 $2,008 3.56%
$50k-75k 131 $13,015,000 $99,351 $1,774 3.86%
$50k or less 126 $8,840,000 $70,159 $1,673 3.81%
$75k-100k 115 $13,125,000 $114,130 $1,933 3.59%
$150k-250k 111 $21,155,000 $190,586 $2,156 3.55%
$250k+ 30 $10,190,000 $339,667 $3,813 3.33%

Sun Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 186 originations. The second most popular income band? $50k-75k, with 131 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 216 $31,310,000 $144,954 $2,185 3.61%
30-36% 160 $23,750,000 $148,438 $2,049 3.60%
<20% 97 $11,385,000 $117,371 $1,926 3.38%
37% 26 $3,800,000 $146,154 $1,926 3.67%
38% 25 $2,655,000 $106,200 $2,066 3.51%
36% 24 $3,180,000 $132,500 $2,417 3.72%
39% 19 $1,995,000 $105,000 $1,541 3.86%
41% 19 $1,535,000 $80,789 $1,171 4.39%
40% 18 $1,640,000 $91,111 $2,147 3.67%
42% 16 $1,570,000 $98,125 $1,481 4.30%
43% 14 $1,330,000 $95,000 $1,284 4.19%
44% 14 $2,040,000 $145,714 $1,456 4.13%
50-60% 13 $1,395,000 $107,308 $1,751 3.77%
45% 8 $1,170,000 $146,250 $1,604 3.61%
47% 7 $1,215,000 $173,571 $1,771 3.70%
49% 6 $1,130,000 $188,333 $2,733 3.67%
46% 6 $1,040,000 $173,333 $2,630 3.25%
48% 5 $775,000 $155,000 $1,955 3.65%
>60% 5 $465,000 $93,000 $455 4.15%

Sun Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 216 originations. The next most common DTI ratio? 30-36%, with 160 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 588 $79,170,000 $134,643 $2,008 3.57%
Black 80 $9,150,000 $114,375 $2,010 4.21%
Not provided 27 $4,515,000 $167,222 $1,504 3.71%
Other Asian 1 $335,000 $335,000 $2,850 3.50%
Asian Indian 1 $205,000 $205,000 $2,226 2.50%
Asian 2 $200,000 $100,000 $1,085 4.13%
American Indian 1 $145,000 $145,000 $1,853 4.25%

Approval Rates

Total approvals of all applications
87.07%

Sun Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
70.93%

Sun Federal Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
0.0 4 $320,000 $80,000
1093.0 1 $75,000 $75,000
2173.0 1 $55,000 $55,000
2198.88 1 $55,000 $55,000
2275.6 1 $95,000 $95,000
2411.82 1 $55,000 $55,000
2618.0 1 $95,000 $95,000
2806.13 1 $105,000 $105,000
2914.64 1 $55,000 $55,000
3157.0 1 $145,000 $145,000
3467.75 1 $155,000 $155,000
NA 686 $92,510,000 $134,854

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
700 $93,720,000 $133,886

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 119 $9,055,000 $76,092 $730 4.02%
40-60% 77 $9,155,000 $118,896 $1,921 3.38%
60-80% 153 $26,405,000 $172,582 $2,375 3.30%
80-100% 223 $44,205,000 $198,229 $2,718 3.47%
Over 100% 1 $245,000 $245,000 $2,048 2.50%
Under 20% 126 $4,510,000 $35,794 $95 4.22%