Weststar Mortgage Corporation Rates, Fees & Info
ALBUQUERQUE, NMLEI: 5493005DYVXTSXZPZF85
Tax ID: 85-0308543
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Mortgage Data
Review & Overview
Weststar Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. Weststar Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Victoria, San Antonio, Port Lavaca, Huntsville, and Rockport among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Weststar Mortgage Corporation 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. Weststar Mortgage Corporation 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.82% | 11/17/24 |
| 30 Year Conventional Refi | 6.87% | 11/17/24 |
| 30 Year Cash-out Refi | 7.19% | 11/17/24 |
| 30 Year FHA Purchase | 7.58% | 11/17/24 |
| 30 Year FHA Refi | 6.27% | 11/17/24 |
| 30 Year VA Purchase | 5.98% | 11/17/24 |
| 30 Year USDA Purchase | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 6.07% | 11/17/24 |
| 15 Year Conventional Refi | 6.24% | 11/17/24 |
| 15 Year Cash-out Refi | 6.24% | 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. | ||
Weststar Mortgage Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
30Origination Dollar Volume (All Markets)
$8,030,000Relative Rate
Weststar Mortgage Corporation's average 30 year fixed mortgage rate was
6.32%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.16%.
Relative Fees (Closing Costs)
Weststar Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,066.
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 |
|---|---|---|---|---|---|
| VICTORIA, TX (FHA|USDA|VA) | 16 | $4,620,000 | $288,750 | $10,515 | 6.29% |
| Outside of Metro Areas | 2 | $800,000 | $400,000 | $13,598 | 5.81% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $6,812 | 6.38% |
| Port Lavaca, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $8,514 | 7.50% |
| Huntsville, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $12,956 | 6.13% |
| Rockport, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,202 | 6.25% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $9,617 | 5.75% |
| Bay City, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $11,040 | 6.25% |
| Searcy, AR (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,493 | 6.75% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,641 | 7.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 4 | $160,000 | $40,000 | $2,004 | 9.49% |
Similar Lenders
We use machine learning to identify the top lenders compared against WESTSTAR MORTGAGE CORPORATION 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 | 20 | $5,550,000 | $277,500 | $7,418 | 7.02% |
| FHA | 9 | $2,215,000 | $246,111 | $11,764 | 6.22% |
| VA | 1 | $265,000 | $265,000 | $15,490 | 5.75% |
For 2023, Weststar Mortgage Corporation's most frequently originated type of loan was Conventional, with 20 originations. Their 2nd most popular type was FHA, with 9 originations.
Loan Reason
For 2023, Weststar Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 21 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 26 | $7,870,000 | $302,692 | $10,066 | 6.32% |
| 15 Year | 4 | $160,000 | $40,000 | $2,004 | 9.49% |
For 2023, Weststar Mortgage Corporation's most frequently cited loan duration was 30 Year, with 26 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
Weststar Mortgage Corporation's average total fees were $10,066, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 11 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 11 | $3,015,000 | $274,091 |
| 5-6% | 10 | $3,300,000 | $330,000 |
| 7-8% | 5 | $1,555,000 | $311,000 |
| Over 8% | 4 | $160,000 | $40,000 |
During 2023, Weststar Mortgage Corporation's average interest rate for loans was 6.32%, while their most frequently originated rate bucket for loans was 6-7%, with 11 originations.
Loan Sizing
2023 saw Weststar Mortgage Corporation place emphasis on $200k-400k loans with 16 originations, totaling $4,680,000 in origination value.
Applicant Income
Weststar Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $75k-100k, with 7 originations.
Applicant Debt to Income Ratio
Weststar Mortgage Corporation lent most frequently to those with DTI ratios of 50-60%, with 5 originations. The next most common DTI ratio? 20-30%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Weststar Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination80.00%
Weststar Mortgage Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 30 | $8,030,000 | $267,667 |