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, Dallas, Houston, Port Lavaca, and San Antonio 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 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 | 6.82% | 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
52Origination Dollar Volume (All Markets)
$12,680,000Awards
WESTSTAR MORTGAGE CORPORATION - 2022
WESTSTAR MORTGAGE CORPORATION is a 2022 , due to their low .
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 |
|---|---|---|---|---|---|
| VICTORIA, TX (FHA|USDA|VA) | 33 | $8,065,000 | $244,394 | $9,363 | 4.80% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $1,495,000 | $498,333 | $12,938 | 4.46% |
| Outside of Metro Areas | 6 | $1,200,000 | $200,000 | $7,226 | 4.73% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $7,111 | 4.69% |
| Port Lavaca, TX (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,132 | 3.50% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $10,927 | 5.00% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 6.38% |
| El Campo, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,399 | 5.25% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,412 | 5.00% |
| Rockport, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.25% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,366 | 5.38% |
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 | 36 | $9,020,000 | $250,556 | $7,484 | 4.67% |
| FHA | 15 | $3,275,000 | $218,333 | $10,277 | 4.83% |
| VA | 1 | $385,000 | $385,000 | $21,488 | 6.25% |
For 2022, Weststar Mortgage Corporation's most frequently originated type of loan was Conventional, with 36 originations. Their 2nd most popular type was FHA, with 15 originations.
Loan Reason
For 2022, Weststar Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 37 originations. The 2nd most popular reason was Refi, with 9 originations.
Loan Duration/Length
For 2022, Weststar Mortgage Corporation's most frequently cited loan duration was 30 Year, with 45 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
Weststar Mortgage Corporation's average total fees were $9,100, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 12 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 16 | $3,560,000 | $222,500 |
| 3-4% | 15 | $4,455,000 | $297,000 |
| 4-5% | 15 | $2,935,000 | $195,667 |
| 6-7% | 6 | $1,730,000 | $288,333 |
During 2022, Weststar Mortgage Corporation's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 5-6%, with 16 originations.
Loan Sizing
2022 saw Weststar Mortgage Corporation place emphasis on $200k-400k loans with 24 originations, totaling $7,050,000 in origination value.
Applicant Income
Weststar Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $50k-75k, with 11 originations.
Applicant Debt to Income Ratio
Weststar Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 10 originations. The next most common DTI ratio? 50-60%, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.92%
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 origination13.46%
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 | 52 | $12,680,000 | $243,846 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| West Coast Servicing, Inc. | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |