Tristar Finance Mortgage Rates, Fees & Info
KIRKLAND, WALEI: 54930004MLYQ2HKUPN66
Tax ID: 20-5066025
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Mortgage Data
Review & Overview
Tristar Finance is a smaller mortgage company specializing in Refi loans. Tristar Finance has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Portland, Los Angeles, Oak Harbor, and Wenatchee among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Tristar Finance has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Tristar Finance 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 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 | 6.17% | 4/22/24 |
| 30 Year Conventional Refi | 5.96% | 4/22/24 |
| 30 Year Cash-out Refi | 6.47% | 4/22/24 |
| 30 Year FHA Purchase | 7.86% | 4/22/24 |
| 30 Year VA Purchase | 6.01% | 4/22/24 |
| 30 Year VA Refi | 5.56% | 4/22/24 |
| 15 Year Conventional Purchase | 5.36% | 4/22/24 |
| 15 Year Conventional Refi | 5.68% | 4/22/24 |
| 15 Year Cash-out Refi | 5.68% | 4/22/24 |
| 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. | ||
Tristar Finance Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
125Origination Dollar Volume (All Markets)
$54,735,000Awards
TRISTAR FINANCE - 2020
TRISTAR FINANCE is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 118 | $52,280,000 | $443,051 | $3,144 | 2.74% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $2,013 | 2.50% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $1,587 | 2.88% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,123 | 2.25% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,645 | 3.13% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,955 | 2.99% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,565 | 2.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against TRISTAR FINANCE 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 | 123 | $53,545,000 | $435,325 | $3,130 | 2.74% |
| VA | 2 | $1,190,000 | $595,000 | $2,475 | 2.31% |
For 2020, Tristar Finance's most frequently originated type of loan was Conventional, with 123 originations. Their 2nd most popular type was VA, with 2 originations.
Loan Reason
For 2020, Tristar Finance's most frequently cited loan purpose was Refi, with 92 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.
Loan Duration/Length
For 2020, Tristar Finance's most frequently cited loan duration was 30 Year, with 108 originations. The 2nd most popular length was 15 Year, with 15 originations.
Origination Fees/Closing Costs
Tristar Finance's average total fees were $3,171, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 62 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 76 | $32,920,000 | $433,158 |
| <2.5% | 36 | $15,800,000 | $438,889 |
| 3-4% | 13 | $6,015,000 | $462,692 |
During 2020, Tristar Finance's average interest rate for loans was 2.79%, while their most frequently originated rate bucket for loans was 2.5-3%, with 76 originations.
Loan Sizing
2020 saw Tristar Finance place emphasis on $400k-600k loans with 55 originations, totaling $26,535,000 in origination value.
Applicant Income
Tristar Finance lent most frequently to those with incomes in the $150k-250k range, with 44 originations. The second most popular income band? $100k-150k, with 39 originations.
Applicant Debt to Income Ratio
Tristar Finance lent most frequently to those with DTI ratios of 30-36%, with 33 originations. The next most common DTI ratio? 20-30%, with 29 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.28%
Tristar Finance has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination92.00%
Tristar Finance has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 125 | $54,735,000 | $437,880 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 125 | $54,735,000 | $437,880 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| TriStar Finance Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 100.0% |