Sunwest Credit Union Mortgage Rates, Fees & Info
Pueblo, COLEI: 549300ZJR72I7J2E7R18
Tax ID: 84-0417233
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Mortgage Data
Review & Overview
Sunwest Credit Union is a smaller credit union specializing in Refi loans. Sunwest Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Pueblo, Cañon City, Colorado Springs, Denver, and Fort Collins among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)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 a high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 12/16/24 |
| 30 Year Conventional Refi | 6.27% | 12/16/24 |
| 30 Year Cash-out Refi | 6.27% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 5.68% | 12/16/24 |
| 15 Year Conventional Refi | 5.68% | 12/16/24 |
| 15 Year Cash-out Refi | 5.68% | 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. | ||
Sunwest Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
103Origination Dollar Volume (All Markets)
$9,895,000Top 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) | 71 | $6,305,000 | $88,803 | $19,392 | 5.00% |
| Cañon City, CO (FHA|USDA|VA) | 26 | $2,960,000 | $113,846 | $1,934 | 5.06% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,297 | 4.94% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $185,000 | $61,667 | $318 | 4.83% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,806 | 3.75% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 103 | $9,895,000 | $96,068 | $13,927 | 5.00% |
For 2019, Sunwest Credit Union's most frequently originated type of loan was Conventional, with 103 originations.
Loan Reason
For 2019, Sunwest Credit Union's most frequently cited loan purpose was Refi, with 68 originations. The 2nd most popular reason was Home Purchase, with 15 originations.
Loan Duration/Length
For 2019, Sunwest Credit Union's most frequently cited loan duration was 30 Year, with 34 originations. The 2nd most popular length was 10 Year, with 27 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 28 | $3,160,000 | $112,857 |
| $<1k | 19 | $1,095,000 | $57,632 |
| $2k-3k | 13 | $2,185,000 | $168,077 |
| $3k-4k | 5 | $1,285,000 | $257,000 |
Sunwest Credit Union's average total fees were $40,356, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 28 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 31 | $3,875,000 | $125,000 |
| 4-5% | 25 | $2,015,000 | $80,600 |
| 6-7% | 24 | $1,820,000 | $75,833 |
| 5-6% | 22 | $2,160,000 | $98,182 |
| 7-8% | 1 | $25,000 | $25,000 |
During 2019, Sunwest Credit Union's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 3-4%, with 31 originations.
Loan Sizing
2019 saw Sunwest Credit Union place emphasis on $100,000 or less loans with 62 originations, totaling $3,370,000 in origination value.
Applicant Income
Sunwest Credit Union lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $75k-100k, with 25 originations.
Applicant Debt to Income Ratio
Sunwest Credit Union lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? 30-36%, with 20 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 102 | $9,850,000 | $96,569 | $14,053 | 5.01% |
| Black | 1 | $45,000 | $45,000 | $1,143 | 3.75% |
Approval Rates
Total approvals of all applications95.04%
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 origination89.32%
Sunwest Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 103 | $9,895,000 | $96,068 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $125,000 | $125,000 |
| Single Family (1-4 Units):Site-Built | 102 | $9,770,000 | $95,784 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SUN WEST MORTGAGE COMPANY, INC. | Conventional home mortgage | Trouble during payment process | 4 | 50.0% |
| SUN WEST MORTGAGE COMPANY, INC. | FHA mortgage | Trouble during payment process | 2 | 25.0% |
| SUN WEST MORTGAGE COMPANY, INC. | Other type of mortgage | Closing on a mortgage | 1 | 12.5% |
| SUN WEST MORTGAGE COMPANY, INC. | Other type of mortgage | Struggling to pay mortgage | 1 | 12.5% |