Brightstar Mortgage Rates, Fees & Info
Sunrise, FLLEI: 549300D7OB5W5CJHFO55
Tax ID: 59-0653174
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Mortgage Data
Review & Overview
Brightstar is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Brightstar has a high proportion of conventional loans. Their top markets by origination volume include: Miami, Orlando, Naples, Jacksonville, and Port St. Lucie among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Brightstar 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. Brightstar 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 6.97% | 12/16/24 |
| 30 Year Conventional Refi | 6.60% | 12/16/24 |
| 30 Year Cash-out Refi | 6.85% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 6.08% | 12/16/24 |
| 15 Year Conventional Refi | 6.18% | 12/16/24 |
| 15 Year Cash-out Refi | 6.18% | 12/16/24 |
| 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. | ||
Brightstar Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
198Origination Dollar Volume (All Markets)
$39,220,000Awards
BRIGHTSTAR - 2018
BRIGHTSTAR is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 177 | $35,565,000 | $200,932 | $4,124 | 4.92% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $5,376 | 4.63% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $5,079 | 4.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $3,744 | 4.38% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $5,741 | 4.50% |
| OCALA, FL (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $3,099 | 4.79% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,871 | 5.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $3,925 | 5.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,292 | 4.75% |
| Palatka, FL (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $4,575 | 4.81% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,156 | 4.50% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $8,419 | 4.63% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,886 | 5.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against BRIGHTSTAR 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 | 191 | $37,705,000 | $197,408 | $4,091 | 4.91% |
| VA | 7 | $1,515,000 | $216,429 | $6,718 | 4.59% |
For 2018, Brightstar's most frequently originated type of loan was Conventional, with 191 originations. Their 2nd most popular type was VA, with 7 originations.
Loan Reason
For 2018, Brightstar's most frequently cited loan purpose was Home Purchase, with 110 originations. The 2nd most popular reason was Cash Out Refi, with 67 originations.
Loan Duration/Length
For 2018, Brightstar's most frequently cited loan duration was 30 Year, with 146 originations. The 2nd most popular length was 15 Year, with 28 originations.
Origination Fees/Closing Costs
Brightstar's average total fees were $4,482, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 132 originations.
Interest Rates
During 2018, Brightstar's average interest rate for loans was 4.84%, while their most frequently originated rate bucket for loans was 4-5%, with 145 originations.
Loan Sizing
2018 saw Brightstar place emphasis on $200k-400k loans with 76 originations, totaling $20,880,000 in origination value.
Applicant Income
Brightstar lent most frequently to those with incomes in the $50k-75k range, with 49 originations. The second most popular income band? $100k-150k, with 44 originations.
Applicant Debt to Income Ratio
Brightstar lent most frequently to those with DTI ratios of 30-36%, with 45 originations. The next most common DTI ratio? 20-30%, with 23 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.31%
Brightstar has an average approval rate.
Pick Rate
Approvals leading to origination82.83%
Brightstar has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 198 | $39,220,000 | $198,081 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $290,000 | $145,000 |
| Single Family (1-4 Units):Site-Built | 196 | $38,930,000 | $198,622 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Brightfunders, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 16.7% |
| Brightfunders, LLC | Conventional home mortgage | Closing on a mortgage | 1 | 16.7% |
| Brightfunders, LLC | FHA mortgage | Closing on a mortgage | 2 | 33.3% |
| Brightfunders, LLC | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 2 | 33.3% |