Five Star Bank Mortgage Rates, Fees & InfoWarsaw, NY
Tax ID: 16-0621150
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewFive Star Bank is a smaller bank specializing in Home Purchase loans. Five Star 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: Buffalo, Rochester, Albany, Corning, and Philadelphia among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)
Five Star Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Five Star 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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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||5.81%||12/4/23|
|30 Year Conventional Purchase||6.38%||12/4/23|
|30 Year Conventional Refi||6.57%||12/4/23|
|30 Year Cash-out Refi||6.42%||12/4/23|
|30 Year FHA Purchase||6.82%||12/4/23|
|30 Year VA Purchase||6.27%||12/4/23|
|15 Year Conventional Purchase||6.58%||12/4/23|
|15 Year Conventional Refi||6.09%||12/4/23|
|15 Year Cash-out Refi||6.09%||12/4/23|
|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.|
Five Star Bank Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Five Star Bank. 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.
Origination Dollar Volume (All Markets)$461,955,000
Five Star Bank - 2022
Five Star Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Five Star Bank's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.51%.
Relative Fees (Closing Costs)
Five Star Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,725.
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 $4,750.
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|
|BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA)||429||$208,845,000||$486,818||$3,933||4.40%|
|ROCHESTER, NY (FHA|USDA|VA)||345||$95,245,000||$276,072||$2,426||4.47%|
|ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA)||1||$49,555,000||$49,555,000||$0||4.50%|
|Corning, NY (FHA|USDA|VA)||49||$20,665,000||$421,735||$1,685||4.22%|
|Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA)||2||$15,210,000||$7,605,000||$0||6.32%|
|INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA)||1||$14,815,000||$14,815,000||$0||5.25%|
|SYRACUSE, NY (FHA|USDA|VA)||7||$14,425,000||$2,060,714||$3,613||5.18%|
|HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA)||1||$11,135,000||$11,135,000||$0||6.00%|
|Outside of Metro Areas||94||$10,850,000||$115,426||$2,865||4.03%|
|Olean, NY (FHA|USDA|VA)||58||$6,980,000||$120,345||$2,376||4.64%|
|Batavia, NY (FHA|USDA|VA)||55||$5,735,000||$104,273||$2,267||4.65%|
|Seneca Falls, NY (FHA|USDA|VA)||29||$2,615,000||$90,172||$2,318||4.02%|
|ELMIRA, NY (FHA|USDA|VA)||24||$2,140,000||$89,167||$2,616||4.58%|
|Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA)||14||$1,860,000||$132,857||$2,727||4.87%|
|Meadville, PA (FHA|USDA|VA)||1||$925,000||$925,000||$0||4.00%|
|Auburn, NY (FHA|USDA|VA)||4||$530,000||$132,500||$4,452||3.63%|
|UTICA-ROME, NY (FHA|USDA|VA)||1||$425,000||$425,000||$5,945||3.25%|
We use machine learning to identify the top lenders compared against Five Star Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Five Star Bank's most frequently originated type of loan was Conventional, with 786 originations. Their 2nd most popular type was HELOC, with 284 originations.
For 2022, Five Star Bank's most frequently cited loan purpose was Home Purchase, with 584 originations. The 2nd most popular reason was Home Improvement, with 213 originations.
For 2022, Five Star Bank's most frequently cited loan duration was 30 Year, with 791 originations. The 2nd most popular length was 20 Year, with 111 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Five Star Bank's average total fees were $3,725, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 493 originations.
During 2022, Five Star Bank's average interest rate for loans was 4.25%, while their most frequently originated rate bucket for loans was 5-6%, with 371 originations.
2022 saw Five Star Bank place emphasis on $100,000 or less loans with 447 originations, totaling $24,965,000 in origination value.
Five Star Bank lent most frequently to those with incomes in the $50k-75k range, with 294 originations. The second most popular income band? $50k or less, with 293 originations.
Applicant Debt to Income Ratio
Five Star Bank lent most frequently to those with DTI ratios of 30-36%, with 208 originations. The next most common DTI ratio? 20-30%, with 184 originations.
Approval RatesTotal approvals of all applications
Five Star Bank has an average approval rate.
Pick RateApprovals leading to origination
Five Star Bank has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|