Sun Federal Credit Union Mortgage Rates, Fees & Info

Maumee, OH

LEI: 549300VGZHXNY2T0G559

Tax ID: 34-1300434

5 stars - Updated: 6/9/24 - out of 5 stars, based on 21 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Sun Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Sun Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Toledo, Philadelphia, Reading, Monroe, and Atlantic City among others. We have data for 41 markets. (Some data included below & more in-depth data is available with an active subscription.)

Sun Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Sun Federal Credit Union 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 relatively high 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
Home Equity Line of Credit (HELOC) 6.27% 6/9/24
30 Year Conventional Purchase 6.27% 6/9/24
30 Year Conventional Refi 6.27% 6/9/24
30 Year Cash-out Refi 6.27% 6/9/24
30 Year FHA Purchase 6.27% 6/9/24
30 Year VA Purchase 6.56% 6/9/24
15 Year Conventional Purchase 5.64% 6/9/24
15 Year Conventional Refi 5.72% 6/9/24
15 Year Cash-out Refi 5.72% 6/9/24
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 Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Sun Federal Credit Union. 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

427

Origination Dollar Volume (All Markets)

$44,115,000
Show all (6) awards

Relative Rate

Sun Federal Credit Union's average 30 year fixed mortgage rate was 6.16%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.32%.

Relative Fees (Closing Costs)

Sun Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,320.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
TOLEDO, OH (FHA|USDA|VA) 249 $20,695,000 $83,112 $934 7.99%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 72 $8,030,000 $111,528 $1,344 8.13%
READING, PA (FHA|USDA|VA) 24 $3,240,000 $135,000 $1,932 7.60%
MONROE, MI (FHA|USDA|VA) 19 $2,335,000 $122,895 $1,540 7.94%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 3 $1,205,000 $401,667 $3,917 5.63%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $805,000 $805,000 $7,578 3.75%
LEBANON, PA (FHA|USDA|VA) 1 $655,000 $655,000 $6,380 5.75%
Outside of Metro Areas 9 $645,000 $71,667 $1,086 7.57%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $625,000 $625,000 $5,463 3.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $570,000 $285,000 $3,216 7.25%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $555,000 $185,000 $2,266 7.08%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $500,000 $250,000 $4,645 8.50%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $405,000 $405,000 $1,410 6.38%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $405,000 $405,000 $4,354 5.75%
Adrian, MI (FHA|USDA|VA) 3 $355,000 $118,333 $820 6.17%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 1 $305,000 $305,000 $4,191 6.00%
RENO, NV (FHA|USDA|VA) 1 $285,000 $285,000 $3,742 5.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $245,000 $245,000 $5,193 6.38%
Hillsdale, MI (FHA|USDA|VA) 2 $220,000 $110,000 $0 7.44%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $200,000 $100,000 $1,291 6.19%
CANTON-MASSILLON, OH (FHA|USDA|VA) 2 $190,000 $95,000 $1,333 6.75%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $185,000 $185,000 $2,167 11.50%
Sandusky, OH (FHA|USDA|VA) 1 $185,000 $185,000 $2,346 5.75%
Findlay, OH (FHA|USDA|VA) 2 $130,000 $65,000 $0 7.56%
Marion, OH (FHA|USDA|VA) 1 $125,000 $125,000 $2,085 6.75%
Sevierville, TN (FHA|USDA|VA) 2 $110,000 $55,000 $1,027 9.56%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $110,000 $55,000 $0 8.00%
COLUMBUS, OH (FHA|USDA|VA) 2 $100,000 $50,000 $0 8.13%
AKRON, OH (FHA|USDA|VA) 2 $100,000 $50,000 $0 8.13%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $90,000 $45,000 $1,195 6.75%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $85,000 $85,000 $2,621 4.50%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $75,000 $75,000 $0 8.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $65,000 $65,000 $2,384 8.75%
Mount Vernon, OH (FHA|USDA|VA) 1 $55,000 $55,000 $0 9.75%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $45,000 $45,000 $0 7.75%
LANCASTER, PA (FHA|USDA|VA) 2 $40,000 $20,000 $0 9.25%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $35,000 $35,000 $325 7.63%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $35,000 $35,000 $0 10.13%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 9.75%
Pottsville, PA (FHA|USDA|VA) 1 $25,000 $25,000 $2,484 8.38%
Brevard, NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 8.00%
Sun Federal Credit Union's top markets include Toledo, Philadelphia, Reading, Monroe, and Atlantic City among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against SUN Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Republic Bank
    Similarity Rank: 21
    LEBANON
    Similarity Rank: 117
    GLASS CITY Federal Credit Union
    Similarity Rank: 123
    County Savings Bank
    Similarity Rank: 135
    Columbia Bank
    Similarity Rank: 156
    The Croghan Colonial Bank
    Similarity Rank: 336
    The Genoa Banking Company
    Similarity Rank: 414

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 414 $42,990,000 $103,841 $1,193 7.89%
    HELOC 11 $795,000 $72,273 n/a 8.20%
    VA 2 $330,000 $165,000 $7,455 6.50%

    For 2023, Sun Federal Credit Union's most frequently originated type of loan was Conventional, with 414 originations. Their 2nd most popular type was HELOC, with 11 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 142 $7,570,000 $53,310 $46 8.78%
    Home Improvement 128 $6,810,000 $53,203 $42 8.52%
    Home Purchase 99 $21,145,000 $213,586 $3,255 6.28%
    Refi 30 $3,440,000 $114,667 $1,182 7.58%
    Cash Out Refi 28 $5,150,000 $183,929 $2,816 6.49%

    For 2023, Sun Federal Credit Union's most frequently cited loan purpose was Other, with 142 originations. The 2nd most popular reason was Home Improvement, with 128 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 201 $15,275,000 $75,995 $439 8.36%
    30 Year 84 $19,230,000 $228,929 $3,320 6.16%
    Other 82 $5,380,000 $65,610 $491 8.34%
    10 Year 29 $1,305,000 $45,000 $114 8.65%
    20 Year 15 $2,555,000 $170,333 $3,034 6.23%
    5 Year 15 $335,000 $22,333 $177 8.94%
    3 Year 1 $35,000 $35,000 $0 7.75%

    For 2023, Sun Federal Credit Union's most frequently cited loan duration was 15 Year, with 201 originations. The 2nd most popular length was 30 Year, with 84 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 342 $36,840,000 $107,719
    $1k-2k 1 $165,000 $165,000
    $2k-3k 1 $165,000 $165,000

    Sun Federal Credit Union's average total fees were $3,320, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 342 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 207 $11,695,000 $56,498
    7-8% 96 $7,430,000 $77,396
    6-7% 63 $9,195,000 $145,952
    5-6% 40 $10,160,000 $254,000
    4-5% 15 $2,785,000 $185,667
    3-4% 5 $2,655,000 $531,000

    During 2023, Sun Federal Credit Union's average interest rate for loans was 6.16%, while their most frequently originated rate bucket for loans was Over 8%, with 207 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 285 $12,745,000 $44,719 $307 8.49%
    $100k-200k 81 $11,165,000 $137,840 $2,233 7.11%
    $200k-400k 43 $11,145,000 $259,186 $3,293 6.39%
    $400k-600k 14 $6,300,000 $450,000 $4,501 5.72%
    $600k-1MM 4 $2,760,000 $690,000 $6,168 4.50%

    2023 saw Sun Federal Credit Union place emphasis on $100,000 or less loans with 285 originations, totaling $12,745,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 117 $13,435,000 $114,829 $1,356 7.82%
    $50k-75k 101 $6,375,000 $63,119 $840 8.36%
    $75k-100k 68 $6,540,000 $96,176 $1,130 7.60%
    $50k or less 64 $3,600,000 $56,250 $954 8.01%
    $150k-250k 56 $9,730,000 $173,750 $1,841 7.54%
    $250k+ 13 $3,895,000 $299,615 $3,584 7.11%

    Sun Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 117 originations. The second most popular income band? $50k-75k, with 101 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 100 $8,420,000 $84,200 $1,327 7.65%
    30-36% 99 $11,905,000 $120,253 $1,361 7.79%
    <20% 49 $5,225,000 $106,633 $1,452 7.55%
    40% 21 $2,945,000 $140,238 $1,799 7.57%
    38% 20 $2,620,000 $131,000 $1,618 7.80%
    41% 19 $2,185,000 $115,000 $1,446 8.66%
    39% 19 $1,935,000 $101,842 $1,146 7.75%
    37% 18 $1,280,000 $71,111 $759 8.42%
    42% 14 $1,160,000 $82,857 $217 8.82%
    50-60% 13 $1,615,000 $124,231 $450 7.98%
    36% 13 $735,000 $56,538 $627 8.55%
    44% 12 $940,000 $78,333 $472 8.55%
    43% 10 $1,110,000 $111,000 $763 8.43%
    46% 7 $835,000 $119,286 $1,146 7.91%
    48% 7 $845,000 $120,714 $1,286 8.16%
    45% 5 $205,000 $41,000 $0 7.70%
    49% 1 $155,000 $155,000 $0 8.25%

    Sun Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 100 originations. The next most common DTI ratio? 30-36%, with 99 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 344 $36,680,000 $106,628 $1,232 7.84%
    Black 55 $5,835,000 $106,091 $1,553 8.04%
    Not provided 24 $1,330,000 $55,417 $484 8.20%
    Asian 3 $195,000 $65,000 $0 8.83%
    American Indian 1 $75,000 $75,000 $2,474 5.25%

    Approval Rates

    Total approvals of all applications
    82.88%

    Sun Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    64.17%

    Sun Federal Credit Union 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
    0.0 4 $370,000 $92,500
    NA 423 $43,745,000 $103,416

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    427 $44,115,000 $103,314

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 110 $7,250,000 $65,909 $397 8.40%
    40-60% 45 $6,325,000 $140,556 $1,412 7.64%
    60-80% 52 $9,840,000 $189,231 $2,723 6.72%
    80-100% 71 $14,695,000 $206,972 $3,082 6.55%
    Over 100% 1 $445,000 $445,000 $5,228 5.50%
    Under 20% 148 $5,560,000 $37,568 $37 8.66%