Weststar Bank Mortgage Rates, Fees & Info

EL PASO, TX

LEI: 5493007ZMQ2ZFZA66L83

Tax ID: 74-2559241

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Mortgage Data

Review & Overview

Weststar Bank is a smaller bank specializing in Home Purchase and Refi loans. Weststar Bank has a high proportion of conventional loans. Their top two markets are El Paso and Las Cruces .

Weststar 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.

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Originations

20

Origination Dollar Volume (All Markets)

$10,940,000

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
EL PASO, TX (FHA|USDA|VA) 16 $9,790,000 $611,875 $0 0.00%
LAS CRUCES, NM (FHA|USDA|VA) 4 $1,150,000 $287,500 $0 0.00%
Weststar Bank's top markets include El Paso and Las Cruces among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 20 $10,940,000 $547,000 $0 0.00%

    For 2023, Weststar Bank's most frequently originated type of loan was Conventional, with 20 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 11 $2,645,000 $240,455 $0 0.00%
    Refi 5 $6,215,000 $1,243,000 $0 0.00%
    Home Improvement 4 $2,080,000 $520,000 $0 0.00%

    For 2023, Weststar Bank's most frequently cited loan purpose was Home Purchase, with 11 originations. The 2nd most popular reason was Refi, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 20 $10,940,000 $547,000 $0 0.00%

    For 2023, Weststar Bank's most frequently cited loan duration was Other, with 20 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 8 $1,210,000 $151,250 $0 0.00%
    $200k-400k 5 $1,465,000 $293,000 $0 0.00%
    $1MM+ 3 $7,075,000 $2,358,333 $0 0.00%
    $100,000 or less 2 $110,000 $55,000 $0 0.00%
    $400k-600k 1 $435,000 $435,000 $0 0.00%
    $600k-1MM 1 $645,000 $645,000 $0 0.00%

    2023 saw Weststar Bank place emphasis on $100k-200k loans with 8 originations, totaling $1,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 3 $445,000 $148,333 $0 0.00%
    $250k+ 3 $555,000 $185,000 $0 0.00%
    $100k-150k 1 $105,000 $105,000 $0 0.00%
    $50k or less 1 $35,000 $35,000 $0 0.00%

    Weststar Bank lent most frequently to those with incomes in the $150k-250k range, with 3 originations. The second most popular income band? $250k+, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 20 $10,940,000 $547,000 $0 0.00%

    Weststar Bank lent most frequently to those with DTI ratios of Exempt%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 12 $9,800,000 $816,667 $0 0.00%
    White 7 $965,000 $137,857 $0 0.00%
    Asian 1 $175,000 $175,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    70.27%

    Weststar Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    70.00%

    Weststar Bank 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
    Exempt 20 $10,940,000 $547,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    20 $10,940,000 $547,000