Starboard Financial Management Mortgage Rates, Fees & Info

MESA, AZ

LEI: 549300C4RD3C53QCM649

Tax ID: 83-0446200

4.5 stars - out of 5 stars, based on 32 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Starboard Financial Management is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Starboard Financial Management has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Phoenix, Flagstaff, Prescott Valley, Chicago, and Tucson among others. Starboard Financial Management has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Starboard Financial Management is typically an average fee lendor.


Originations

1,044

Origination Dollar Volume (All Markets)

$286,170,000

Awards

STARBOARD FINANCIAL MANAGEMENT  VA Loans bronze STARBOARD FINANCIAL MANAGEMENT  30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Starboard Financial Management 's average 30 year fixed rate mortgage of loans were 3.31%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.16%.

Relative Fees

Starboard Financial Management 's average total fees for a 30 year fixed rate mortgage are $4,735.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 704 $201,220,000 $285,824 $4,451 3.27%
FLAGSTAFF, AZ (FHA|USDA|VA) 81 $21,895,000 $270,309 $5,246 3.21%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 56 $16,560,000 $295,714 $4,032 3.20%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 65 $13,465,000 $207,154 $5,359 3.09%
TUCSON, AZ (FHA|USDA|VA) 47 $10,735,000 $228,404 $4,123 3.52%
Show Low, AZ (FHA|USDA|VA) 8 $2,020,000 $252,500 $5,673 3.58%
Payson, AZ (FHA|USDA|VA) 8 $1,880,000 $235,000 $4,429 3.20%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 9 $1,725,000 $191,667 $4,067 3.67%
Rexburg, ID (FHA|USDA|VA) 5 $1,615,000 $323,000 $5,641 3.43%
Outside of Metro Areas 6 $1,580,000 $263,333 $7,180 3.29%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 10 $1,460,000 $146,000 $4,663 3.46%
Granbury, TX (FHA|USDA|VA) 3 $1,205,000 $401,667 $4,604 2.96%
Outside of Metro Areas 4 $1,140,000 $285,000 $6,184 3.03%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $1,025,000 $341,667 $10,805 2.67%
BOISE CITY, ID (FHA|USDA|VA) 4 $970,000 $242,500 $2,677 3.03%
ALBUQUERQUE, NM (FHA|USDA|VA) 5 $925,000 $185,000 $0 4.18%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $890,000 $445,000 $5,242 3.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $755,000 $251,667 $5,021 3.33%
YUMA, AZ (FHA|USDA|VA) 3 $645,000 $215,000 $6,579 4.08%
Nogales, AZ (FHA|USDA|VA) 3 $635,000 $211,667 $4,194 3.54%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $610,000 $305,000 $5,331 3.06%
REDDING, CA (FHA|USDA|VA) 1 $485,000 $485,000 $4,290 3.13%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $465,000 $465,000 $18,910 3.25%
FARMINGTON, NM (FHA|USDA|VA) 3 $435,000 $145,000 $3,301 3.50%
LAS CRUCES, NM (FHA|USDA|VA) 1 $375,000 $375,000 $4,579 3.25%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $285,000 $285,000 $5,731 3.13%
AMARILLO, TX (FHA|USDA|VA) 1 $255,000 $255,000 $2,631 2.75%
Port Angeles, WA (FHA|USDA|VA) 1 $235,000 $235,000 $1,150 3.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $225,000 $225,000 $5,768 3.50%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $175,000 $175,000 $0 4.13%
SANTA FE, NM (FHA|USDA|VA) 1 $155,000 $155,000 $1,750 2.88%
Safford, AZ (FHA|USDA|VA) 1 $125,000 $125,000 $7,058 2.88%

Starboard Financial Management 's top markets include Phoenix, Flagstaff, Prescott Valley, Chicago, and Tucson among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 821 $224,305,000 $273,210 $4,015 3.22%
FHA 166 $44,630,000 $268,855 $9,394 3.65%
VA 46 $15,160,000 $329,565 $6,685 2.85%
USDA 11 $2,075,000 $188,636 $6,598 3.08%

For the 2021 period, Starboard Financial Management 's most frequently originated loan type of loans were Conventional, with 821 originations. Their 2nd most popular type is FHA, with 166 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 493 $140,765,000 $285,527 $6,580 3.42%
Refi 309 $74,955,000 $242,573 $2,834 3.05%
Cash Out Refi 242 $70,450,000 $291,116 $4,063 3.25%

For the 2021, Starboard Financial Management 's most frequently cited loan purpose of loans were Home Purchase, with 493 originations. The 2nd most popular reason of loans were Refi, with 309 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 951 $264,765,000 $278,407 $4,735 3.31%
15 Year 44 $8,840,000 $200,909 $3,441 2.72%
Other 22 $6,020,000 $273,636 $3,708 3.14%
20 Year 21 $5,355,000 $255,000 $3,559 3.03%
10 Year 6 $1,190,000 $198,333 $3,436 2.33%

For the 2021, Starboard Financial Management 's most frequently cited loan length of loans were 30 Year, with 951 originations. The 2nd most popular length of loans were 15 Year, with 44 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 327 $88,225,000 $269,801
$<1k 268 $66,910,000 $249,664
$3k-4k 189 $51,985,000 $275,053
$2k-3k 116 $32,390,000 $279,224
$5k+ 93 $34,255,000 $368,333

$4,735 of loans were Starboard Financial Management 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 327 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 574 $160,410,000 $279,460
2.5-3% 354 $94,740,000 $267,627
4-5% 74 $19,860,000 $268,378
<2.5% 39 $9,875,000 $253,205
5-6% 3 $1,285,000 $428,333

During 2021, Starboard Financial Management 's average interest rate of loans were 3.31%, while their most frequently originated rate bucket of loans were 3-4%, with 574 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 620 $176,000,000 $283,871 $5,000 3.33%
$100k-200k 263 $41,515,000 $157,852 $3,189 3.18%
$400k-600k 134 $63,710,000 $475,448 $5,696 3.20%
$100,000 or less 23 $1,875,000 $81,522 $2,729 3.08%
$600k-1MM 4 $3,070,000 $767,500 $9,793 3.00%

2021 saw Starboard Financial Management place emphasis on $200k-400k loans with 620 originations, totaling $176,000,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 320 $78,470,000 $245,219 $4,664 3.34%
$75k-100k 206 $59,860,000 $290,583 $5,085 3.34%
$100k-150k 187 $58,495,000 $312,807 $4,764 3.21%
$50k or less 185 $34,055,000 $184,081 $3,749 3.22%
$150k-250k 106 $40,540,000 $382,453 $5,071 3.19%
$250k+ 25 $10,585,000 $423,400 $5,169 3.33%

Starboard Financial Management lent most frequently to those with incomes in the $50k-75k range, with 320 originations. The second most popular income band? $75k-100k, with 206 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 181 $48,165,000 $266,105 $3,819 3.16%
30-36% 169 $46,455,000 $274,882 $4,658 3.16%
44% 60 $16,400,000 $273,333 $5,262 3.55%
<20% 53 $13,165,000 $248,396 $3,663 3.08%
40% 51 $14,345,000 $281,275 $5,090 3.35%
41% 47 $14,115,000 $300,319 $4,748 3.40%
39% 47 $14,235,000 $302,872 $4,578 3.33%
42% 46 $13,010,000 $282,826 $5,452 3.40%
46% 46 $12,210,000 $265,435 $4,664 3.24%
43% 44 $12,440,000 $282,727 $5,024 3.40%
36% 44 $10,700,000 $243,182 $4,863 3.39%
48% 43 $11,905,000 $276,860 $4,609 3.30%
47% 42 $11,730,000 $279,286 $5,253 3.48%
45% 37 $10,115,000 $273,378 $5,406 3.30%
38% 36 $8,950,000 $248,611 $4,206 3.29%
49% 36 $9,770,000 $271,389 $4,482 3.40%
37% 24 $7,210,000 $300,417 $4,557 3.18%
50-60% 20 $6,160,000 $308,000 $8,383 3.21%
>60% 3 $925,000 $308,333 $3,697 3.25%

Starboard Financial Management lent most frequently to those with DTI ratios of 20-30%, with 181 originations. The next most common DTI ratio? 30-36%, with 169 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 933 $256,415,000 $274,829 $4,543 3.24%
Black 42 $11,510,000 $274,048 $5,503 3.59%
Asian 21 $5,835,000 $277,857 $5,636 3.40%
Not provided 21 $5,135,000 $244,524 $4,919 3.54%
American Indian 13 $3,325,000 $255,769 $5,738 3.29%
Native Hawaiian 7 $1,865,000 $266,429 $4,385 3.59%
Other Asian 4 $1,170,000 $292,500 $5,006 3.31%
Asian Indian 2 $470,000 $235,000 $1,977 4.06%
Native Hawiian 1 $445,000 $445,000 $4,979 3.75%

Approval Rates

Total approvals of all applications
96.54%

Starboard Financial Management 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
60.18%

Starboard Financial Management 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 1,044 $286,170,000 $274,109

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,044 $286,170,000 $274,109

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 58 $9,220,000 $158,966 $2,447 2.92%
40-60% 193 $47,305,000 $245,104 $2,767 3.04%
60-80% 362 $104,890,000 $289,751 $4,243 3.25%
80-100% 425 $122,975,000 $289,353 $6,444 3.44%
Over 100% 4 $1,560,000 $390,000 $15,462 3.22%
Under 20% 2 $220,000 $110,000 $953 2.69%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
STARBOARD FINANCIAL MANAGEMENT FHA mortgage Trouble during payment process 1 100.0%