Sterling Bank Mortgage Rates, Fees & Info

Poplar Bluff, MO

LEI: 549300DNP4W96HB6LV07

Tax ID: 20-1513021

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Sterling Bank is a smaller bank specializing in Home Purchase and Refi loans. Sterling Bank has a high proportion of conventional loans. Their top markets by origination volume include: Atlanta, St. Louis, Alexandria, Memphis, and Poplar Bluff among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Sterling Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Sterling Bank 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 relatively high 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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    Originations

    82

    Origination Dollar Volume (All Markets)

    $39,220,000

    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
    Outside of Metro Areas 31 $12,415,000 $400,484 $1,339 5.19%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $5,895,000 $5,895,000 $0 5.75%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $5,770,000 $2,885,000 $0 5.13%
    ALEXANDRIA, LA (FHA|USDA|VA) 1 $3,505,000 $3,505,000 $0 5.75%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $2,340,000 $1,170,000 $0 5.75%
    Poplar Bluff, MO (FHA|USDA|VA) 23 $2,215,000 $96,304 $1,128 5.33%
    Great Bend, KS (FHA|USDA|VA) 1 $2,105,000 $2,105,000 $0 5.50%
    JACKSON, MS (FHA|USDA|VA) 1 $1,725,000 $1,725,000 $0 5.75%
    CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 9 $1,355,000 $150,556 $1,150 5.03%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $1,270,000 $635,000 $0 5.38%
    Kennett, MO (FHA|USDA|VA) 6 $230,000 $38,333 $1,279 5.38%
    Rochelle, IL (FHA|USDA|VA) 1 $165,000 $165,000 $0 5.75%
    SPRINGFIELD, MO (FHA|USDA|VA) 1 $155,000 $155,000 $1,655 4.80%
    Paragould, AR (FHA|USDA|VA) 1 $75,000 $75,000 $1,412 5.75%
    Sterling Bank's top markets include Atlanta, St. Louis, Alexandria, Memphis, and Poplar Bluff among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Louisiana (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 82 $39,220,000 $478,293 $1,248 5.28%

    For 2018, Sterling Bank's most frequently originated type of loan was Conventional, with 82 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 36 $28,060,000 $779,444 $1,439 5.43%
    Refi 31 $10,225,000 $329,839 $1,227 5.13%
    Home Improvement 9 $495,000 $55,000 $1,000 5.37%
    Other 6 $440,000 $73,333 $1,144 4.99%

    For 2018, Sterling Bank's most frequently cited loan purpose was Home Purchase, with 36 originations. The 2nd most popular reason was Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 55 $28,205,000 $512,818 $1,273 5.09%
    3 Year 14 $1,690,000 $120,714 $0 5.80%
    15 Year 7 $395,000 $56,429 $1,110 5.68%
    1 Year 2 $730,000 $365,000 $0 5.60%
    30 Year 1 $85,000 $85,000 $1,159 5.35%
    30+ year 1 $2,105,000 $2,105,000 $0 5.50%
    20 Year 1 $5,705,000 $5,705,000 $0 5.00%
    5 Year 1 $305,000 $305,000 $0 4.90%

    For 2018, Sterling Bank's most frequently cited loan duration was Other, with 55 originations. The 2nd most popular length was 3 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 52 $6,250,000 $120,192

    Sterling Bank's average total fees were $1,159, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 52 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 39 $10,555,000 $270,641
    5-6% 39 $28,485,000 $730,385
    6-7% 4 $180,000 $45,000

    During 2018, Sterling Bank's average interest rate for loans was 5.35%, while their most frequently originated rate bucket for loans was 4-5%, with 39 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 41 $2,215,000 $54,024 $1,149 5.37%
    $100k-200k 18 $2,530,000 $140,556 $1,248 5.05%
    $1MM+ 10 $30,100,000 $3,010,000 $0 5.63%
    $200k-400k 10 $2,680,000 $268,000 $1,545 5.01%
    $600k-1MM 2 $1,270,000 $635,000 $0 5.38%
    $400k-600k 1 $425,000 $425,000 $1,554 4.60%

    2018 saw Sterling Bank place emphasis on $100,000 or less loans with 41 originations, totaling $2,215,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 21 $2,755,000 $131,190 $1,262 5.13%
    $50k or less 12 $510,000 $42,500 $1,201 5.33%
    $100k-150k 11 $1,175,000 $106,818 $1,361 5.22%
    $50k-75k 11 $1,075,000 $97,727 $1,148 5.28%
    $250k+ 3 $315,000 $105,000 $1,139 5.03%
    $150k-250k 2 $740,000 $370,000 $1,491 4.70%

    Sterling Bank lent most frequently to those with incomes in the $75k-100k range, with 21 originations. The second most popular income band? $50k or less, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 18 $2,000,000 $111,111 $1,283 5.13%
    <20% 11 $855,000 $77,727 $1,147 5.15%
    30-36% 5 $555,000 $111,000 $1,305 5.18%
    40% 4 $440,000 $110,000 $1,308 5.88%
    36% 4 $770,000 $192,500 $1,565 5.00%
    46% 4 $490,000 $122,500 $1,277 4.96%
    45% 2 $380,000 $190,000 $1,620 5.50%
    37% 2 $110,000 $55,000 $950 4.85%
    49% 2 $80,000 $40,000 $820 5.63%
    38% 2 $190,000 $95,000 $1,110 4.90%
    48% 1 $225,000 $225,000 $1,485 4.80%
    50-60% 1 $35,000 $35,000 $1,528 4.90%
    43% 1 $65,000 $65,000 $756 4.90%
    39% 1 $155,000 $155,000 $1,655 4.80%
    47% 1 $185,000 $185,000 $778 4.90%

    Sterling Bank lent most frequently to those with DTI ratios of 20-30%, with 18 originations. The next most common DTI ratio? <20%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 20 $32,560,000 $1,628,000 $0 5.58%
    White 60 $6,540,000 $109,000 $1,260 5.18%
    Black 2 $120,000 $60,000 $967 5.33%

    Approval Rates

    Total approvals of all applications
    86.27%

    Sterling Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.68%

    Sterling Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 82 $39,220,000 $478,293

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $30,550,000 $2,545,833
    Single Family (1-4 Units):Manufactured 4 $180,000 $45,000
    Single Family (1-4 Units):Site-Built 66 $8,490,000 $128,636

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $355,000 $71,000 $1,183 4.95%
    40-60% 12 $10,380,000 $865,000 $1,167 5.48%
    60-80% 32 $23,730,000 $741,563 $1,258 5.34%
    80-100% 30 $4,680,000 $156,000 $1,332 5.18%
    Under 20% 3 $75,000 $25,000 $885 5.35%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    STERLING BANCORP Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 13.3%
    STERLING BANCORP Conventional home mortgage Closing on a mortgage 2 13.3%
    STERLING BANCORP Conventional home mortgage Struggling to pay mortgage 5 33.3%
    STERLING BANCORP Conventional home mortgage Trouble during payment process 2 13.3%
    STERLING BANCORP FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.7%
    STERLING BANCORP Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 6.7%
    STERLING BANCORP Other type of mortgage Struggling to pay mortgage 1 6.7%
    STERLING BANCORP Other type of mortgage Trouble during payment process 1 6.7%