Weststar Bank Mortgage Rates, Fees & Info
EL PASO, TXLEI: 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
20Origination Dollar Volume (All Markets)
$10,940,000Top 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% |
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
2023 saw Weststar Bank place emphasis on $100k-200k loans with 8 originations, totaling $1,210,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications70.27%
Weststar Bank has a below average approval rate.
Pick Rate
Approvals leading to origination70.00%
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 |