Starion Bank Mortgage Rates, Fees & Info

Bismarck, ND

LEI: 54930019RBT2SM6CQS78

Tax ID: 45-0427679

5 stars - Updated: 7/20/24 - out of 5 stars, based on 15 reviews

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

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Mortgage Data

Review & Overview

Starion Bank is a smaller bank specializing in Home Purchase loans. Starion Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Bismarck, Madison, Fargo, Lake Havasu City, and Spearfish among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

Starion Bank 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. Starion Bank 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.

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
30 Year Conventional Purchase 6.34% 7/20/24
30 Year Conventional Refi 6.49% 7/20/24
30 Year Cash-out Refi 6.68% 7/20/24
30 Year FHA Purchase 7.11% 7/20/24
15 Year Conventional Purchase 5.51% 7/20/24
15 Year Conventional Refi 5.96% 7/20/24
15 Year Cash-out Refi 5.96% 7/20/24
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.

Starion Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Starion Bank. 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

229

Origination Dollar Volume (All Markets)

$74,885,000
Show all (6) awards

Relative Rate

Starion Bank's average 30 year fixed mortgage rate was 5.76%.

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

This yields a difference of -0.72%.

Relative Fees (Closing Costs)

Starion Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,741.

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
BISMARCK, ND (FHA|USDA|VA) 100 $23,670,000 $236,700 $4,029 6.60%
MADISON, WI (FHA|USDA|VA) 34 $21,630,000 $636,176 $2,645 6.66%
FARGO, ND-MN (FHA|USDA|VA) 25 $13,235,000 $529,400 $5,795 6.16%
Outside of Metro Areas 44 $8,920,000 $202,727 $4,051 6.87%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 6 $1,770,000 $295,000 $0 6.55%
Spearfish, SD (FHA|USDA|VA) 1 $815,000 $815,000 $0 4.55%
Fergus Falls, MN (FHA|USDA|VA) 2 $700,000 $350,000 $9,072 6.51%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $685,000 $685,000 $0 6.25%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $660,000 $330,000 $4,335 6.75%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 3 $595,000 $198,333 $1,176 6.93%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $425,000 $425,000 $7,604 5.88%
Jamestown, ND (FHA|USDA|VA) 1 $315,000 $315,000 $0 7.24%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $265,000 $265,000 $2,608 7.99%
Platteville, WI (FHA|USDA|VA) 1 $245,000 $245,000 $2,292 5.38%
Wahpeton, ND-MN (FHA|USDA|VA) 1 $215,000 $215,000 $0 7.10%
GREELEY, CO (FHA|USDA|VA) 1 $205,000 $205,000 $904 8.82%
APPLETON, WI (FHA|USDA|VA) 1 $165,000 $165,000 $0 6.75%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $165,000 $165,000 $3,610 5.38%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $115,000 $115,000 $0 8.15%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.50%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $25,000 $25,000 $1,104 8.82%
Starion Bank's top markets include Bismarck, Madison, Fargo, Lake Havasu City, and Spearfish among others.

Their top states include:
  • North Dakota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Similar Lenders

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

    Dakota Community Bank & Trust
    Similarity Rank: 160
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    VALLEY MORTGAGE, INC.
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    State Bank of Cross Plains
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    FIRST COMMUNITY CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 221 $72,635,000 $328,665 $3,779 6.64%
    FHA 8 $2,250,000 $281,250 $8,056 6.24%

    For 2023, Starion Bank's most frequently originated type of loan was Conventional, with 221 originations. Their 2nd most popular type was FHA, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 151 $58,555,000 $387,781 $5,294 6.22%
    Refi 33 $12,295,000 $372,576 $1,513 7.13%
    Other 16 $1,480,000 $92,500 $906 7.70%
    Home Improvement 15 $1,125,000 $75,000 $702 7.50%
    Cash Out Refi 14 $1,430,000 $102,143 $991 7.64%

    For 2023, Starion Bank's most frequently cited loan purpose was Home Purchase, with 151 originations. The 2nd most popular reason was Refi, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 98 $40,550,000 $413,776 $5,741 5.76%
    5 Year 58 $21,940,000 $378,276 $548 7.10%
    10 Year 49 $6,075,000 $123,980 $789 7.20%
    20 Year 11 $1,895,000 $172,273 $837 8.67%
    Other 5 $2,805,000 $561,000 $0 6.34%
    1 Year 4 $1,130,000 $282,500 $0 8.46%
    15 Year 3 $395,000 $131,667 $2,197 6.65%
    3 Year 1 $95,000 $95,000 $0 7.50%

    For 2023, Starion Bank's most frequently cited loan duration was 30 Year, with 98 originations. The 2nd most popular length was 5 Year, with 58 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 92 $22,280,000 $242,174
    $5k+ 20 $12,750,000 $637,500
    $2k-3k 14 $3,090,000 $220,714
    $3k-4k 11 $3,825,000 $347,727
    $4k-5k 10 $3,970,000 $397,000
    $1k-2k 5 $745,000 $149,000

    Starion Bank's average total fees were $5,741, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 92 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 79 $28,305,000 $358,291
    7-8% 64 $14,840,000 $231,875
    5-6% 45 $17,705,000 $393,444
    4-5% 21 $10,425,000 $496,429
    Over 8% 19 $2,745,000 $144,474
    3-4% 1 $865,000 $865,000

    During 2023, Starion Bank's average interest rate for loans was 5.76%, while their most frequently originated rate bucket for loans was 6-7%, with 79 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 70 $20,240,000 $289,143 $4,375 6.48%
    $100,000 or less 61 $3,195,000 $52,377 $1,154 7.27%
    $100k-200k 45 $6,695,000 $148,778 $2,676 6.91%
    $400k-600k 27 $13,325,000 $493,519 $6,449 5.99%
    $600k-1MM 20 $14,420,000 $721,000 $7,505 5.52%
    $1MM+ 6 $17,010,000 $2,835,000 $10,210 6.20%

    2023 saw Starion Bank place emphasis on $200k-400k loans with 70 originations, totaling $20,240,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 49 $17,545,000 $358,061 $5,052 6.10%
    $100k-150k 36 $7,300,000 $202,778 $2,784 6.80%
    $250k+ 35 $17,485,000 $499,571 $5,579 6.38%
    $50k-75k 17 $2,285,000 $134,412 $2,858 6.56%
    $75k-100k 13 $2,385,000 $183,462 $3,960 6.44%
    $50k or less 12 $1,150,000 $95,833 $1,714 7.22%

    Starion Bank lent most frequently to those with incomes in the $150k-250k range, with 49 originations. The second most popular income band? $100k-150k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 41 $12,125,000 $295,732 $3,956 6.10%
    30-36% 39 $10,785,000 $276,538 $3,764 6.56%
    <20% 24 $6,630,000 $276,250 $3,759 6.44%
    39% 9 $6,025,000 $669,444 $4,401 6.35%
    41% 9 $2,055,000 $228,333 $3,072 6.87%
    38% 6 $1,580,000 $263,333 $3,601 7.42%
    40% 5 $1,785,000 $357,000 $4,363 6.76%
    37% 5 $1,855,000 $371,000 $6,102 6.38%
    50-60% 4 $1,320,000 $330,000 $5,844 7.18%
    36% 4 $1,280,000 $320,000 $3,582 5.66%
    48% 3 $935,000 $311,667 $9,118 6.26%
    42% 3 $495,000 $165,000 $2,628 6.08%
    47% 2 $680,000 $340,000 $6,034 5.44%
    45% 2 $120,000 $60,000 $0 6.72%
    >60% 1 $35,000 $35,000 $495 7.00%

    Starion Bank lent most frequently to those with DTI ratios of 20-30%, with 41 originations. The next most common DTI ratio? 30-36%, with 39 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 144 $42,840,000 $297,500 $3,942 6.59%
    Not applicable 52 $24,190,000 $465,192 $0 6.94%
    Not provided 22 $6,150,000 $279,545 $4,441 6.28%
    American Indian 7 $1,095,000 $156,429 $3,974 6.04%
    Asian 3 $395,000 $131,667 $2,775 7.13%
    Black 1 $215,000 $215,000 $3,865 6.13%

    Approval Rates

    Total approvals of all applications
    96.39%

    Starion Bank 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
    72.05%

    Starion Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 229 $74,885,000 $327,009

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    229 $74,885,000 $327,009

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $3,940,000 $123,125 $910 7.54%
    40-60% 29 $7,885,000 $271,897 $3,418 6.43%
    60-80% 64 $34,170,000 $533,906 $4,778 6.42%
    80-100% 67 $25,685,000 $383,358 $6,378 6.08%
    Over 100% 4 $810,000 $202,500 $0 7.62%
    Under 20% 32 $2,290,000 $71,563 $755 7.27%