Brightstar Mortgage Rates, Fees & Info

Sunrise, FL

LEI: 549300D7OB5W5CJHFO55

Tax ID: 59-0653174

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Brightstar is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Brightstar has a high proportion of conventional loans. Their top markets by origination volume include: Miami, Asheville, Cape Coral, Orlando, and New York among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Brightstar 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. 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Brightstar. 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.


    Originations

    304

    Origination Dollar Volume (All Markets)

    $103,650,000

    Awards

    BRIGHTSTAR 30 Year Conventional Loans bronze
    Show all (1) awards

    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) 260 $83,600,000 $321,538 $4,348 3.29%
    ASHEVILLE, NC (FHA|USDA|VA) 2 $6,890,000 $3,445,000 $0 3.85%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $2,380,000 $396,667 $3,548 3.75%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $1,750,000 $875,000 $2,879 3.74%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $1,225,000 $1,225,000 $0 3.85%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $1,115,000 $223,000 $3,671 4.14%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $1,110,000 $555,000 $3,413 3.61%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $840,000 $420,000 $7,675 3.25%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 5 $775,000 $155,000 $3,668 3.43%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $575,000 $191,667 $5,301 3.63%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $490,000 $245,000 $4,446 2.94%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $465,000 $465,000 $4,621 3.00%
    Outside of Metro Areas 2 $440,000 $220,000 $3,505 3.31%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $335,000 $335,000 $8,617 3.63%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $235,000 $235,000 $2,486 3.00%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,443 2.50%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $200,000 $100,000 $3,526 3.19%
    Clewiston, FL (FHA|USDA|VA) 1 $195,000 $195,000 $4,361 3.50%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $195,000 $195,000 $1,940 3.50%
    MODESTO, CA (FHA|USDA|VA) 1 $175,000 $175,000 $2,339 2.63%
    OCALA, FL (FHA|USDA|VA) 1 $145,000 $145,000 $3,130 4.00%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $145,000 $145,000 $3,950 3.50%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $145,000 $145,000 $4,163 2.88%
    Brightstar's top markets include Miami, Asheville, Cape Coral, Orlando, and New York among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • 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.

    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 304
    We Florida Financial
    Similarity Rank: 638
    POWER FINANCIAL
    Similarity Rank: 870
    Florida Home Trust Mortgage, Inc.
    Similarity Rank: 2127
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2268
    MIAMI FIREFIGHTERS FCU
    Similarity Rank: 2646
    Chicago Financial Services, Inc.
    Similarity Rank: 2736
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 2976
    GET A RATE LLC
    Similarity Rank: 3094
    CROSSFIRE FINANCIAL NETWORK, INC.
    Similarity Rank: 3135

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 300 $102,080,000 $340,267 $4,234 3.33%
    VA 4 $1,570,000 $392,500 $10,069 3.22%

    For 2020, Brightstar's most frequently originated type of loan was Conventional, with 300 originations. Their 2nd most popular type was VA, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 108 $51,900,000 $480,556 $4,758 3.45%
    Refi 97 $29,545,000 $304,588 $4,030 3.04%
    Cash Out Refi 94 $21,230,000 $225,851 $4,299 3.47%
    Home Improvement 5 $975,000 $195,000 $3,021 3.30%

    For 2020, Brightstar's most frequently cited loan purpose was Home Purchase, with 108 originations. The 2nd most popular reason was Refi, with 97 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 189 $47,945,000 $253,677 $4,544 3.35%
    15 Year 50 $9,890,000 $197,800 $3,885 2.96%
    10 Year 32 $37,310,000 $1,165,938 $2,960 3.94%
    20 Year 31 $7,895,000 $254,677 $3,743 3.17%
    Other 2 $610,000 $305,000 $4,226 2.81%

    For 2020, Brightstar's most frequently cited loan duration was 30 Year, with 189 originations. The 2nd most popular length was 15 Year, with 50 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 125 $30,225,000 $241,800
    $1k-2k 97 $22,105,000 $227,887
    $2k-3k 26 $6,940,000 $266,923
    $5k+ 13 $4,635,000 $356,538
    $3k-4k 8 $1,610,000 $201,250
    $4k-5k 5 $1,005,000 $201,000

    Brightstar's average total fees were $4,544, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 125 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 156 $64,900,000 $416,026
    2.5-3% 109 $29,545,000 $271,055
    4-5% 23 $5,765,000 $250,652
    <2.5% 13 $3,135,000 $241,154
    5-6% 2 $260,000 $130,000
    6-7% 1 $45,000 $45,000

    During 2020, Brightstar's average interest rate for loans was 3.35%, while their most frequently originated rate bucket for loans was 3-4%, with 156 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 134 $37,530,000 $280,075 $4,724 3.23%
    $100k-200k 97 $14,885,000 $153,454 $3,586 3.31%
    $400k-600k 33 $14,935,000 $452,576 $5,557 3.22%
    $100,000 or less 20 $1,450,000 $72,500 $3,270 3.71%
    $1MM+ 10 $27,570,000 $2,757,000 $0 3.86%
    $600k-1MM 10 $7,280,000 $728,000 $4,316 3.90%

    2020 saw Brightstar place emphasis on $200k-400k loans with 134 originations, totaling $37,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 85 $16,645,000 $195,824 $4,028 3.25%
    $100k-150k 78 $23,130,000 $296,538 $4,745 3.20%
    $75k-100k 54 $12,680,000 $234,815 $4,159 3.31%
    $150k-250k 29 $9,625,000 $331,897 $4,591 3.21%
    $50k or less 25 $3,055,000 $122,200 $3,766 3.44%
    $250k+ 2 $930,000 $465,000 $7,816 2.94%

    Brightstar lent most frequently to those with incomes in the $50k-75k range, with 85 originations. The second most popular income band? $100k-150k, with 78 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 66 $16,370,000 $248,030 $4,545 3.23%
    20-30% 40 $9,210,000 $230,250 $3,989 3.11%
    44% 21 $4,495,000 $214,048 $4,115 3.62%
    43% 16 $3,780,000 $236,250 $4,518 3.27%
    40% 15 $3,725,000 $248,333 $4,067 3.22%
    42% 14 $3,030,000 $216,429 $4,332 3.35%
    41% 12 $3,320,000 $276,667 $4,639 3.20%
    36% 12 $2,530,000 $210,833 $3,196 3.13%
    37% 11 $2,395,000 $217,727 $3,599 3.64%
    49% 10 $2,770,000 $277,000 $5,690 3.09%
    46% 10 $2,410,000 $241,000 $3,688 3.04%
    38% 9 $1,585,000 $176,111 $3,616 3.35%
    45% 9 $1,955,000 $217,222 $4,036 3.40%
    39% 9 $2,895,000 $321,667 $4,148 3.28%
    48% 8 $2,640,000 $330,000 $5,023 3.20%
    <20% 6 $1,170,000 $195,000 $3,708 3.25%
    50-60% 3 $1,115,000 $371,667 $12,239 3.21%
    47% 2 $670,000 $335,000 $3,712 3.31%

    Brightstar lent most frequently to those with DTI ratios of 30-36%, with 66 originations. The next most common DTI ratio? 20-30%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 177 $73,745,000 $416,638 $4,335 3.37%
    Not provided 64 $14,920,000 $233,125 $4,374 3.15%
    Black 51 $10,715,000 $210,098 $4,205 3.37%
    American Indian 5 $2,475,000 $495,000 $4,131 3.75%
    Asian 7 $1,795,000 $256,429 $4,351 3.32%

    Approval Rates

    Total approvals of all applications
    85.81%

    Brightstar has an average approval rate.

    Pick Rate

    Approvals leading to origination
    29.93%

    Brightstar 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 304 $103,650,000 $340,954

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 22 $33,880,000 $1,540,000
    Single Family (1-4 Units):Manufactured 1 $145,000 $145,000
    Single Family (1-4 Units):Site-Built 281 $69,625,000 $247,776

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $3,475,000 $165,476 $2,936 3.27%
    40-60% 58 $24,510,000 $422,586 $3,909 3.14%
    60-80% 135 $50,435,000 $373,593 $4,268 3.42%
    80-100% 88 $24,870,000 $282,614 $4,892 3.29%
    Over 100% 1 $315,000 $315,000 $12,800 3.13%
    Under 20% 1 $45,000 $45,000 $1,316 7.00%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Brightfunders, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Brightfunders, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%