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
  • 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 Improvement, Cash Out Refi, and Home Purchase loans. Brightstar has a high proportion of conventional loans. Their top markets by origination volume include: Miami, Orlando, Deltona, Palm Bay, and North Port among others. We have data for 22 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 an average 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

    608

    Origination Dollar Volume (All Markets)

    $127,550,000

    Awards

    BRIGHTSTAR 30 Year Conventional Loans silver
    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) 549 $92,085,000 $167,732 $5,146 3.83%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 7 $11,135,000 $1,590,714 $7,618 3.93%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 8 $7,430,000 $928,750 $3,764 4.51%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $4,515,000 $1,505,000 $0 5.17%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $2,280,000 $1,140,000 $0 4.22%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $1,600,000 $400,000 $11,859 4.12%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $1,555,000 $1,555,000 $0 4.75%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 11 $1,545,000 $140,455 $2,949 3.99%
    OCALA, FL (FHA|USDA|VA) 2 $1,160,000 $580,000 $0 4.63%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $835,000 $835,000 $0 4.80%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $705,000 $705,000 $0 4.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $540,000 $90,000 $6,747 3.60%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $375,000 $375,000 $0 5.04%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $335,000 $111,667 $0 3.66%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $255,000 $255,000 $2,808 3.88%
    Outside of Metro Areas 1 $255,000 $255,000 $4,773 7.13%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 2 $210,000 $105,000 $3,771 4.63%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $205,000 $205,000 $2,361 4.00%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $195,000 $195,000 $4,707 3.75%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $175,000 $175,000 $4,319 5.38%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.24%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.29%
    Brightstar's top markets include Miami, Orlando, Deltona, Palm Bay, and North Port among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Georgia (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: 94
    We Florida Financial
    Similarity Rank: 156
    TrustCo Bank
    Similarity Rank: 1064
    MIAMI FIREFIGHTERS FCU
    Similarity Rank: 1331
    SOUTH FLORIDA EDUCATIONAL
    Similarity Rank: 1352
    Financial Freedom Mortgage, LLC
    Similarity Rank: 1360
    Suncoast Credit Union
    Similarity Rank: 1634
    MATTAMY HOME FUNDING, LLC
    Similarity Rank: 1710
    SPACE COAST Credit Union
    Similarity Rank: 1750
    TROPICAL FINANCIAL CREDIT UNION
    Similarity Rank: 1872

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 422 $45,750,000 $108,412 n/a 3.58%
    Conventional 185 $81,325,000 $439,595 $5,109 4.52%
    VA 1 $475,000 $475,000 $5,565 4.13%

    For 2022, Brightstar's most frequently originated type of loan was HELOC, with 422 originations. Their 2nd most popular type was Conventional, with 185 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 263 $26,425,000 $100,475 $0 3.54%
    Other 159 $19,425,000 $122,170 $0 3.65%
    Cash Out Refi 84 $30,080,000 $358,095 $4,580 4.49%
    Home Purchase 75 $41,805,000 $557,400 $6,189 4.81%
    Refi 27 $9,815,000 $363,519 $4,374 3.78%

    For 2022, Brightstar's most frequently cited loan purpose was Home Improvement, with 263 originations. The 2nd most popular reason was Other, with 159 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 447 $49,905,000 $111,644 $4,501 3.57%
    30 Year 103 $26,835,000 $260,534 $5,857 4.54%
    10 Year 38 $48,130,000 $1,266,579 $3,342 4.57%
    20 Year 17 $1,995,000 $117,353 $1,697 5.88%
    Other 3 $685,000 $228,333 $4,572 4.25%

    For 2022, Brightstar's most frequently cited loan duration was 15 Year, with 447 originations. The 2nd most popular length was 30 Year, with 103 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 41 $6,665,000 $162,561
    $1k-2k 37 $7,715,000 $208,514
    $2k-3k 30 $6,790,000 $226,333
    $3k-4k 17 $3,675,000 $216,176
    $5k+ 17 $6,815,000 $400,882
    $4k-5k 7 $2,095,000 $299,286

    Brightstar's average total fees were $5,857, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 41 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 167 $36,005,000 $215,599
    4-5% 160 $46,310,000 $289,438
    2.5-3% 151 $17,575,000 $116,391
    5-6% 64 $18,600,000 $290,625
    <2.5% 48 $4,560,000 $95,000
    6-7% 11 $2,765,000 $251,364
    7-8% 6 $1,670,000 $278,333
    Over 8% 1 $65,000 $65,000

    During 2022, Brightstar's average interest rate for loans was 4.54%, while their most frequently originated rate bucket for loans was 3-4%, with 167 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 285 $15,775,000 $55,351 $3,024 3.71%
    $100k-200k 164 $22,310,000 $136,037 $4,374 3.78%
    $200k-400k 97 $25,265,000 $260,464 $5,570 3.98%
    $1MM+ 25 $42,665,000 $1,706,600 $22,157 4.50%
    $400k-600k 20 $9,530,000 $476,500 $8,274 4.85%
    $600k-1MM 17 $12,005,000 $706,176 $9,117 4.58%

    2022 saw Brightstar place emphasis on $100,000 or less loans with 285 originations, totaling $15,775,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 157 $21,145,000 $134,682 $5,668 3.88%
    $75k-100k 116 $14,270,000 $123,017 $4,496 3.84%
    $50k-75k 113 $11,455,000 $101,372 $4,716 3.78%
    $150k-250k 99 $14,215,000 $143,586 $5,007 3.70%
    $250k+ 52 $16,200,000 $311,538 $8,203 3.77%
    $50k or less 27 $1,755,000 $65,000 $4,674 4.13%

    Brightstar lent most frequently to those with incomes in the $100k-150k range, with 157 originations. The second most popular income band? $75k-100k, with 116 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 93 $11,575,000 $124,462 $4,493 3.70%
    30-36% 88 $13,420,000 $152,500 $5,053 3.72%
    49% 51 $6,235,000 $122,255 $5,655 3.62%
    48% 34 $5,700,000 $167,647 $6,199 3.63%
    <20% 33 $5,175,000 $156,818 $6,876 3.36%
    43% 28 $4,100,000 $146,429 $4,428 3.97%
    44% 26 $2,870,000 $110,385 $5,494 4.05%
    42% 25 $3,945,000 $157,800 $5,271 4.26%
    37% 24 $2,220,000 $92,500 $4,116 3.86%
    47% 22 $3,380,000 $153,636 $6,639 3.97%
    36% 22 $3,370,000 $153,182 $5,546 3.88%
    39% 22 $2,260,000 $102,727 $3,643 3.80%
    45% 21 $3,815,000 $181,667 $5,827 4.32%
    38% 20 $2,610,000 $130,500 $4,650 4.01%
    40% 19 $3,315,000 $174,474 $3,082 4.10%
    41% 15 $2,235,000 $149,000 $5,288 4.25%
    46% 15 $1,705,000 $113,667 $4,764 3.79%
    50-60% 8 $1,240,000 $155,000 $4,786 3.73%
    >60% 4 $280,000 $70,000 $0 3.87%

    Brightstar lent most frequently to those with DTI ratios of 20-30%, with 93 originations. The next most common DTI ratio? 30-36%, with 88 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 349 $51,105,000 $146,433 $5,032 3.79%
    Not applicable 37 $47,875,000 $1,293,919 $0 4.61%
    Not provided 88 $13,990,000 $158,977 $5,307 3.91%
    Black 118 $12,980,000 $110,000 $5,041 3.86%
    Asian 5 $815,000 $163,000 $5,229 3.45%
    American Indian 6 $600,000 $100,000 $5,042 4.09%
    Other Pacific Islander 3 $135,000 $45,000 $0 3.08%
    Native Hawaiian or Islander 2 $50,000 $25,000 $0 4.37%

    Approval Rates

    Total approvals of all applications
    71.65%

    Brightstar has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    34.05%

    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 608 $127,550,000 $209,786

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    608 $127,550,000 $209,786

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 125 $24,245,000 $193,960 $3,752 3.59%
    40-60% 51 $18,185,000 $356,569 $4,948 3.88%
    60-80% 92 $54,820,000 $595,870 $6,137 4.51%
    80-100% 27 $8,195,000 $303,519 $5,856 4.63%
    Under 20% 313 $22,105,000 $70,623 $1,786 3.72%