Starion Bank Mortgage Rates, Fees & Info
Bismarck, NDLEI: 54930019RBT2SM6CQS78
Tax ID: 45-0427679
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Mortgage Data
Review & Overview
Starion Bank is a smaller bank specializing in Home Purchase and Refi 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: Fargo, Bismarck, Madison, Janesville, and Fergus Falls among others. We have data for 22 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 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 | 6.34% | 11/17/24 |
| 30 Year Conventional Refi | 6.49% | 11/17/24 |
| 30 Year Cash-out Refi | 6.68% | 11/17/24 |
| 30 Year FHA Purchase | 7.11% | 11/17/24 |
| 15 Year Conventional Purchase | 5.51% | 11/17/24 |
| 15 Year Conventional Refi | 5.96% | 11/17/24 |
| 15 Year Cash-out Refi | 5.96% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
283Origination Dollar Volume (All Markets)
$120,105,000Awards
Starion Bank - 2022
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For 2022, 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 |
|---|---|---|---|---|---|
| FARGO, ND-MN (FHA|USDA|VA) | 37 | $58,565,000 | $1,582,838 | $3,342 | 4.46% |
| BISMARCK, ND (FHA|USDA|VA) | 120 | $29,410,000 | $245,083 | $4,375 | 4.25% |
| Outside of Metro Areas | 52 | $13,050,000 | $250,962 | $3,347 | 4.81% |
| MADISON, WI (FHA|USDA|VA) | 39 | $9,565,000 | $245,256 | $1,544 | 4.66% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 6 | $1,420,000 | $236,667 | $3,562 | 5.31% |
| Fergus Falls, MN (FHA|USDA|VA) | 4 | $1,200,000 | $300,000 | $7,590 | 5.06% |
| Outside of Metro Areas | 1 | $1,045,000 | $1,045,000 | $11,759 | 6.13% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $4,793 | 5.04% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $6,538 | 5.43% |
| BILLINGS, MT (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $2,399 | 4.25% |
| Spearfish, SD (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 4.55% |
| Sheridan, WY (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $8,426 | 4.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $1,956 | 4.46% |
| Baraboo, WI (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 4.47% |
| APPLETON, WI (FHA|USDA|VA) | 3 | $295,000 | $98,333 | $1,276 | 5.02% |
| Aberdeen, SD (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $568 | 4.88% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,528 | 3.13% |
| Rochelle, IL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,198 | 4.75% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.29% |
| Stevens Point, WI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,681 | 4.38% |
| Platteville, WI (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,453 | 5.75% |
| Jamestown, ND (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $750 | 6.25% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 275 | $118,125,000 | $429,545 | $3,421 | 4.54% |
| FHA | 8 | $1,980,000 | $247,500 | $8,018 | 3.93% |
For 2022, Starion Bank's most frequently originated type of loan was Conventional, with 275 originations. Their 2nd most popular type was FHA, with 8 originations.
Loan Reason
For 2022, Starion Bank's most frequently cited loan purpose was Home Purchase, with 169 originations. The 2nd most popular reason was Refi, with 57 originations.
Loan Duration/Length
For 2022, Starion Bank's most frequently cited loan duration was 30 Year, with 119 originations. The 2nd most popular length was 5 Year, with 84 originations.
Origination Fees/Closing Costs
Starion Bank's average total fees were $4,642, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 107 originations.
Interest Rates
During 2022, Starion Bank's average interest rate for loans was 4.27%, while their most frequently originated rate bucket for loans was 4-5%, with 95 originations.
Loan Sizing
2022 saw Starion Bank place emphasis on $200k-400k loans with 91 originations, totaling $24,645,000 in origination value.
Applicant Income
Starion Bank lent most frequently to those with incomes in the $100k-150k range, with 58 originations. The second most popular income band? $150k-250k, with 32 originations.
Applicant Debt to Income Ratio
Starion Bank lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 37 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.63%
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 origination69.26%
Starion Bank 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 | 283 | $120,105,000 | $424,399 |