Sunwest Credit Union Mortgage Rates, Fees & Info

Pueblo, CO

LEI: 549300ZJR72I7J2E7R18

Tax ID: 84-0417233

5 stars - Updated: 12/5/24 - out of 5 stars, based on 5 reviews

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

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Mortgage Data

Review & Overview

Sunwest Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Sunwest Credit Union has a high proportion of conventional loans. Their top two markets are Pueblo and Cañon City .

Sunwest Credit Union 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. Sunwest Credit Union 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 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.27% 12/5/24
30 Year Conventional Refi 6.27% 12/5/24
30 Year Cash-out Refi 6.27% 12/5/24
30 Year FHA Purchase 6.27% 12/5/24
30 Year VA Purchase 6.27% 12/5/24
30 Year USDA Purchase 6.27% 12/5/24
15 Year Conventional Purchase 5.68% 12/5/24
15 Year Conventional Refi 5.68% 12/5/24
15 Year Cash-out Refi 5.68% 12/5/24
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.

Sunwest Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Sunwest 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

29

Origination Dollar Volume (All Markets)

$5,705,000

Relative Rate

Sunwest Credit Union's average 30 year fixed mortgage rate was 6.58%.

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

This yields a difference of 0.1%.

Relative Fees (Closing Costs)

Sunwest Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,757.

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
PUEBLO, CO (FHA|USDA|VA) 22 $4,430,000 $201,364 $4,103 6.32%
Cañon City, CO (FHA|USDA|VA) 7 $1,275,000 $182,143 $3,766 6.41%
Sunwest Credit Union's top markets include Pueblo and Cañon City among others.

Their top states include:
  • Colorado (FHA|USDA|VA)
  • Similar Lenders

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

    SunWest Credit Union
    Similarity Rank: 22
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 29 $5,705,000 $196,724 $4,022 6.34%

    For 2023, Sunwest Credit Union's most frequently originated type of loan was Conventional, with 29 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 17 $2,695,000 $158,529 $3,576 6.26%
    Home Purchase 10 $2,470,000 $247,000 $4,616 6.51%
    Refi 2 $540,000 $270,000 $4,843 6.23%

    For 2023, Sunwest Credit Union's most frequently cited loan purpose was Cash Out Refi, with 17 originations. The 2nd most popular reason was Home Purchase, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 19 $4,645,000 $244,474 $4,757 6.58%
    15 Year 5 $605,000 $121,000 $3,006 5.99%
    10 Year 3 $185,000 $61,667 $1,572 5.25%
    20 Year 2 $270,000 $135,000 $3,258 6.63%

    For 2023, Sunwest Credit Union's most frequently cited loan duration was 30 Year, with 19 originations. The 2nd most popular length was 15 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 9 $845,000 $93,889
    $2k-3k 8 $1,570,000 $196,250
    $3k-4k 4 $1,080,000 $270,000
    $5k+ 4 $1,680,000 $420,000
    $<1k 3 $185,000 $61,667
    $4k-5k 1 $345,000 $345,000

    Sunwest Credit Union's average total fees were $4,757, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 9 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 15 $3,225,000 $215,000
    5-6% 11 $1,785,000 $162,273
    7-8% 3 $695,000 $231,667

    During 2023, Sunwest Credit Union's average interest rate for loans was 6.58%, while their most frequently originated rate bucket for loans was 6-7%, with 15 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 9 $1,275,000 $141,667 $3,376 6.57%
    $200k-400k 9 $2,405,000 $267,222 $5,252 6.58%
    $100,000 or less 8 $580,000 $72,500 $2,182 5.82%
    $400k-600k 3 $1,445,000 $481,667 $7,178 6.33%

    2023 saw Sunwest Credit Union place emphasis on $100k-200k loans with 9 originations, totaling $1,275,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 9 $1,595,000 $177,222 $4,075 6.29%
    $100k-150k 7 $1,045,000 $149,286 $3,478 6.59%
    $150k-250k 6 $1,890,000 $315,000 $5,370 6.63%
    $75k-100k 5 $1,075,000 $215,000 $4,103 6.20%
    $50k or less 2 $100,000 $50,000 $1,439 5.25%

    Sunwest Credit Union lent most frequently to those with incomes in the $50k-75k range, with 9 originations. The second most popular income band? $100k-150k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 10 $1,250,000 $125,000 $3,016 6.30%
    39% 5 $1,135,000 $227,000 $4,363 6.68%
    <20% 3 $325,000 $108,333 $2,653 6.11%
    41% 3 $825,000 $275,000 $6,318 6.25%
    30-36% 2 $550,000 $275,000 $4,751 6.00%
    36% 2 $250,000 $125,000 $3,360 6.25%
    38% 1 $345,000 $345,000 $5,893 6.75%
    40% 1 $295,000 $295,000 $3,430 6.75%
    43% 1 $485,000 $485,000 $7,079 6.50%
    42% 1 $245,000 $245,000 $5,127 6.00%

    Sunwest Credit Union lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? 39%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 27 $5,505,000 $203,889 $4,121 6.31%
    Black 2 $200,000 $100,000 $2,686 6.81%

    Approval Rates

    Total approvals of all applications
    97.50%

    Sunwest Credit Union 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
    65.52%

    Sunwest 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
    NA 29 $5,705,000 $196,724

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    29 $5,705,000 $196,724

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $355,000 $71,000 $2,163 5.64%
    40-60% 5 $605,000 $121,000 $3,017 6.60%
    60-80% 12 $2,800,000 $233,333 $4,670 6.47%
    80-100% 6 $1,900,000 $316,667 $5,555 6.65%
    Under 20% 1 $45,000 $45,000 $1,369 5.25%