Weststar Mortgage Corporation Rates, Fees & Info

ALBUQUERQUE, NM

LEI: 5493005DYVXTSXZPZF85

Tax ID: 85-0308543

4.5 stars - Updated: 4/14/24 - out of 5 stars, based on 5 reviews

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

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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.

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 6.82% 4/14/24
30 Year Conventional Refi 6.87% 4/14/24
30 Year Cash-out Refi 7.19% 4/14/24
30 Year FHA Purchase 7.58% 4/14/24
30 Year FHA Refi 6.27% 4/14/24
30 Year VA Purchase 5.98% 4/14/24
30 Year USDA Purchase 6.27% 4/14/24
15 Year Conventional Purchase 6.07% 4/14/24
15 Year Conventional Refi 6.24% 4/14/24
15 Year Cash-out Refi 6.24% 4/14/24
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






Your Estimates

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

This is not an official calculator from Weststar Mortgage Corporation. 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

30

Origination Dollar Volume (All Markets)

$8,030,000

Relative 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%
Weststar Mortgage Corporation's top markets include Victoria, San Antonio, Port Lavaca, Huntsville, and Rockport among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • 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.

    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 176
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    GIBRALTAR MORTGAGE SERVICES, LLC
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    Kirtland Federal Credit Union
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    First Financial Credit Union
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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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 21 $6,155,000 $293,095 $10,134 6.22%
    Refi 7 $1,345,000 $192,143 $5,467 8.30%
    Cash Out Refi 2 $530,000 $265,000 $9,327 6.75%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 11 $3,475,000 $315,909
    $1k-2k 5 $1,005,000 $201,000
    $4k-5k 5 $1,355,000 $271,000
    $3k-4k 4 $940,000 $235,000
    $2k-3k 3 $485,000 $161,667
    $<1k 2 $770,000 $385,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 16 $4,680,000 $292,500 $9,793 6.28%
    $100k-200k 6 $1,080,000 $180,000 $9,140 6.40%
    $100,000 or less 4 $160,000 $40,000 $2,004 9.49%
    $400k-600k 3 $1,385,000 $461,667 $14,456 6.33%
    $600k-1MM 1 $725,000 $725,000 $6,812 6.38%

    2023 saw Weststar Mortgage Corporation place emphasis on $200k-400k loans with 16 originations, totaling $4,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 10 $2,640,000 $264,000 $9,926 6.92%
    $75k-100k 7 $1,555,000 $222,143 $8,080 6.62%
    $150k-250k 6 $2,600,000 $433,333 $9,489 6.33%
    $50k or less 3 $525,000 $175,000 $9,199 6.29%
    $250k+ 2 $420,000 $210,000 $8,633 7.25%
    $50k-75k 2 $290,000 $145,000 $6,060 7.62%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 5 $775,000 $155,000 $8,191 8.07%
    20-30% 4 $980,000 $245,000 $9,082 6.69%
    40% 4 $1,520,000 $380,000 $10,239 6.41%
    38% 3 $755,000 $251,667 $7,649 6.00%
    49% 3 $925,000 $308,333 $9,800 6.54%
    37% 3 $1,155,000 $385,000 $11,395 5.83%
    44% 2 $450,000 $225,000 $11,969 6.13%
    48% 2 $600,000 $300,000 $7,014 5.75%
    43% 2 $570,000 $285,000 $8,652 6.94%
    46% 1 $25,000 $25,000 $1,247 9.49%
    30-36% 1 $275,000 $275,000 $8,441 7.25%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 26 $6,920,000 $266,154 $8,943 6.74%
    Asian 2 $620,000 $310,000 $6,362 5.88%
    Black 1 $445,000 $445,000 $23,146 5.63%
    Not provided 1 $45,000 $45,000 $1,339 9.49%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination
    80.00%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    30 $8,030,000 $267,667

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 3 $1,085,000 $361,667 $7,646 6.04%
    60-80% 6 $1,950,000 $325,000 $8,681 6.48%
    80-100% 16 $4,570,000 $285,625 $10,700 6.34%
    Over 100% 1 $265,000 $265,000 $15,490 5.75%
    Under 20% 4 $160,000 $40,000 $2,004 9.49%