Weststar Mortgage Corporation Rates, Fees & Info

ALBUQUERQUE, NM

LEI: 5493005DYVXTSXZPZF85

Tax ID: 85-0308543

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Weststar Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Weststar Mortgage Corporation has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Victoria, Dallas, San Antonio, Houston, and Albuquerque among others. We have data for 15 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 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 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.82% 5/4/24
    30 Year Conventional Refi 6.87% 5/4/24
    30 Year Cash-out Refi 7.19% 5/4/24
    30 Year FHA Purchase 7.58% 5/4/24
    30 Year FHA Refi 6.27% 5/4/24
    30 Year VA Purchase 5.98% 5/4/24
    30 Year USDA Purchase 6.27% 5/4/24
    15 Year Conventional Purchase 6.07% 5/4/24
    15 Year Conventional Refi 6.24% 5/4/24
    15 Year Cash-out Refi 6.24% 5/4/24
    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

    115

    Origination Dollar Volume (All Markets)

    $24,025,000

    Awards

    WESTSTAR MORTGAGE CORPORATION 30 Year Conventional Loans gold
    Show all (1) awards

    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) 76 $15,580,000 $205,000 $6,205 4.16%
    Outside of Metro Areas 10 $2,010,000 $201,000 $7,280 4.08%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 6 $1,910,000 $318,333 $6,610 3.71%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $705,000 $235,000 $5,520 4.17%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $620,000 $155,000 $3,082 3.75%
    ALBUQUERQUE, NM (FHA|USDA|VA) 2 $520,000 $260,000 $1,705 3.38%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $515,000 $171,667 $4,793 3.92%
    Port Lavaca, TX (FHA|USDA|VA) 3 $485,000 $161,667 $5,394 4.04%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $385,000 $385,000 $4,895 3.75%
    Beeville, TX (FHA|USDA|VA) 2 $370,000 $185,000 $6,995 4.44%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $335,000 $335,000 $8,668 3.38%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $265,000 $265,000 $3,492 3.50%
    Bay City, TX (FHA|USDA|VA) 1 $115,000 $115,000 $4,405 3.25%
    Alamogordo, NM (FHA|USDA|VA) 1 $115,000 $115,000 $1,625 3.50%
    LONGVIEW, TX (FHA|USDA|VA) 1 $95,000 $95,000 $2,226 3.50%
    Weststar Mortgage Corporation's top markets include Victoria, Dallas, San Antonio, Houston, and Albuquerque among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Louisiana (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.

    SANDIA LABORATORY
    Similarity Rank: 60
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 180
    RIO GRANDE
    Similarity Rank: 264
    First American Bank
    Similarity Rank: 486
    MEMBERS CHOICE Credit Union
    Similarity Rank: 549
    SMART FINANCIAL CREDIT UNION
    Similarity Rank: 707
    Del Norte Credit Union
    Similarity Rank: 801
    AAXY L.L.C.
    Similarity Rank: 848
    TEXAS BAY
    Similarity Rank: 888
    Kirtland Federal Credit Union
    Similarity Rank: 900

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 62 $14,060,000 $226,774 $4,996 3.91%
    FHA 41 $7,235,000 $176,463 $7,307 4.37%
    VA 11 $2,605,000 $236,818 $6,504 3.79%
    USDA 1 $125,000 $125,000 $5,250 3.75%

    For 2019, Weststar Mortgage Corporation's most frequently originated type of loan was Conventional, with 62 originations. Their 2nd most popular type was FHA, with 41 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 72 $14,020,000 $194,722 $6,778 4.27%
    Refi 33 $7,425,000 $225,000 $4,569 3.58%
    Cash Out Refi 10 $2,580,000 $258,000 $4,742 4.19%

    For 2019, Weststar Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 72 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 102 $21,270,000 $208,529 $6,082 4.15%
    15 Year 9 $1,795,000 $199,444 $5,008 3.25%
    20 Year 4 $960,000 $240,000 $5,191 3.72%

    For 2019, Weststar Mortgage Corporation's most frequently cited loan duration was 30 Year, with 102 originations. The 2nd most popular length was 15 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 63 $12,635,000 $200,556
    $<1k 20 $4,520,000 $226,000
    $2k-3k 14 $2,230,000 $159,286
    $3k-4k 9 $2,005,000 $222,778
    $5k+ 5 $1,515,000 $303,000
    $4k-5k 4 $1,120,000 $280,000

    Weststar Mortgage Corporation's average total fees were $6,082, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 63 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 58 $13,590,000 $234,310
    4-5% 45 $8,205,000 $182,333
    5-6% 8 $1,190,000 $148,750
    2.5-3% 4 $1,040,000 $260,000

    During 2019, Weststar Mortgage Corporation's average interest rate for loans was 4.15%, while their most frequently originated rate bucket for loans was 3-4%, with 58 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 54 $15,150,000 $280,556 $6,943 3.79%
    $100k-200k 47 $7,345,000 $156,277 $5,384 4.30%
    $100,000 or less 13 $1,045,000 $80,385 $3,989 4.39%
    $400k-600k 1 $485,000 $485,000 $6,369 3.50%

    2019 saw Weststar Mortgage Corporation place emphasis on $200k-400k loans with 54 originations, totaling $15,150,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 31 $6,405,000 $206,613 $6,827 4.11%
    $50k-75k 30 $5,150,000 $171,667 $5,554 4.25%
    $100k-150k 22 $5,280,000 $240,000 $5,260 3.91%
    $50k or less 16 $2,400,000 $150,000 $4,478 4.05%
    $150k-250k 15 $4,455,000 $297,000 $7,903 3.86%
    $250k+ 1 $335,000 $335,000 $2,014 3.38%

    Weststar Mortgage Corporation lent most frequently to those with incomes in the $75k-100k range, with 31 originations. The second most popular income band? $50k-75k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 19 $3,755,000 $197,632 $5,568 4.31%
    20-30% 16 $3,700,000 $231,250 $6,349 3.98%
    50-60% 10 $1,860,000 $186,000 $8,087 4.24%
    42% 8 $1,680,000 $210,000 $6,066 3.98%
    <20% 8 $1,820,000 $227,500 $5,780 3.56%
    49% 8 $2,190,000 $273,750 $5,941 4.17%
    39% 6 $1,150,000 $191,667 $6,469 3.92%
    45% 6 $970,000 $161,667 $5,938 4.08%
    48% 6 $1,200,000 $200,000 $6,801 4.48%
    47% 4 $750,000 $187,500 $5,941 4.03%
    36% 4 $750,000 $187,500 $6,114 4.00%
    38% 3 $465,000 $155,000 $4,066 3.42%
    37% 2 $200,000 $100,000 $5,366 3.94%
    46% 2 $500,000 $250,000 $4,903 4.75%
    40% 2 $310,000 $155,000 $8,318 4.88%
    41% 2 $610,000 $305,000 $3,789 3.63%
    43% 2 $350,000 $175,000 $5,272 4.13%
    44% 2 $570,000 $285,000 $3,896 4.25%

    Weststar Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 19 originations. The next most common DTI ratio? 20-30%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 111 $23,355,000 $210,405 $6,045 4.07%
    Not provided 2 $360,000 $180,000 $2,770 3.56%
    Black 2 $310,000 $155,000 $4,801 3.94%

    Approval Rates

    Total approvals of all applications
    99.61%

    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
    6.96%

    Weststar Mortgage Corporation 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 115 $24,025,000 $208,913

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 4 $430,000 $107,500
    Single Family (1-4 Units):Site-Built 111 $23,595,000 $212,568

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 8 $1,580,000 $197,500 $3,756 3.81%
    60-80% 31 $7,585,000 $244,677 $5,234 3.71%
    80-100% 73 $14,175,000 $194,178 $6,273 4.25%
    Over 100% 3 $685,000 $228,333 $11,984 3.91%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    WESTSTAR MORTGAGE CORPORATION Conventional home mortgage Struggling to pay mortgage 1 20.0%
    WESTSTAR MORTGAGE CORPORATION FHA mortgage Trouble during payment process 1 20.0%
    WESTSTAR MORTGAGE CORPORATION Other type of mortgage Trouble during payment process 2 40.0%
    WESTSTAR MORTGAGE CORPORATION VA mortgage Trouble during payment process 1 20.0%