Staunton Financial Mortgage Rates, Fees & InfoSOUTHFIELD, MI
Tax ID: 38-1968360
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewStaunton Financial is a smaller mortgage company specializing in Home Purchase and Refi loans. Staunton Financial has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Detroit, Ann Arbor, Traverse City, Flint, and Monroe among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)
Staunton Financial has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Staunton Financial 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.62%||3/19/23|
|30 Year Conventional Refi||6.45%||3/19/23|
|30 Year Cash-out Refi||6.74%||3/19/23|
|30 Year FHA Purchase||7.63%||3/19/23|
|30 Year FHA Refi||7.07%||3/19/23|
|30 Year VA Purchase||6.21%||3/19/23|
|30 Year VA Refi||6.11%||3/19/23|
|30 Year USDA Purchase||6.65%||3/19/23|
|30 Year USDA Refi||6.48%||3/19/23|
|15 Year Conventional Purchase||5.95%||3/19/23|
|15 Year Conventional Refi||5.96%||3/19/23|
|15 Year Cash-out Refi||5.96%||3/19/23|
|15 Year VA Refi||5.86%||3/19/23|
|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.|
Origination Dollar Volume (All Markets)$722,555,000
Staunton Financial's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.01%.
Relative Fees (Closing Costs)
Staunton Financial's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,739.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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|
|Detroit-Warren-Dearborn, MI (FHA|USDA|VA)||2,109||$542,165,000||$257,072||$3,643||3.07%|
|ANN ARBOR, MI (FHA|USDA|VA)||334||$95,080,000||$284,671||$3,438||3.02%|
|Traverse City, MI (FHA|USDA|VA)||98||$27,350,000||$279,082||$3,577||3.17%|
|Outside of Metro Areas||70||$15,960,000||$228,000||$3,700||3.15%|
|FLINT, MI (FHA|USDA|VA)||59||$11,235,000||$190,424||$3,844||3.17%|
|MONROE, MI (FHA|USDA|VA)||29||$6,255,000||$215,690||$3,379||3.06%|
|Adrian, MI (FHA|USDA|VA)||25||$4,905,000||$196,200||$4,081||3.11%|
|JACKSON, MI (FHA|USDA|VA)||19||$4,015,000||$211,316||$3,241||3.20%|
|LANSING-EAST LANSING, MI (FHA|USDA|VA)||24||$3,680,000||$153,333||$3,758||3.43%|
|GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA)||11||$2,835,000||$257,727||$3,521||2.92%|
|KALAMAZOO-PORTAGE, MI (FHA|USDA|VA)||5||$1,675,000||$335,000||$3,515||2.68%|
|MUSKEGON, MI (FHA|USDA|VA)||3||$1,255,000||$418,333||$3,780||3.92%|
|Cadillac, MI (FHA|USDA|VA)||4||$750,000||$187,500||$3,843||2.97%|
|PORT ST. LUCIE, FL (FHA|USDA|VA)||1||$705,000||$705,000||$4,415||3.25%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||2||$610,000||$305,000||$4,322||3.75%|
|BATTLE CREEK, MI (FHA|USDA|VA)||2||$590,000||$295,000||$3,927||3.19%|
|Holland, MI (FHA|USDA|VA)||2||$560,000||$280,000||$3,080||4.00%|
|MIDLAND, MI (FHA|USDA|VA)||3||$465,000||$155,000||$4,054||3.04%|
|Big Rapids, MI (FHA|USDA|VA)||2||$340,000||$170,000||$2,446||2.94%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||1||$305,000||$305,000||$5,320||2.99%|
|Sturgis, MI (FHA|USDA|VA)||1||$295,000||$295,000||$4,176||2.75%|
|NILES, MI (FHA|USDA|VA)||1||$285,000||$285,000||$3,268||2.75%|
|SAGINAW, MI (FHA|USDA|VA)||2||$240,000||$120,000||$4,571||3.13%|
|DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA)||1||$205,000||$205,000||$3,364||3.25%|
|Marquette, MI (FHA|USDA|VA)||1||$205,000||$205,000||$3,447||3.38%|
|Mount Pleasant, MI (FHA|USDA|VA)||1||$205,000||$205,000||$3,189||2.99%|
|ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)||1||$205,000||$205,000||$2,989||2.50%|
|Alpena, MI (FHA|USDA|VA)||1||$105,000||$105,000||$2,467||2.88%|
|Alma, MI (FHA|USDA|VA)||1||$75,000||$75,000||$2,776||3.13%|
We use machine learning to identify the top lenders compared against STAUNTON FINANCIAL based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Staunton Financial's most frequently originated type of loan was Conventional, with 2,509 originations. Their 2nd most popular type was FHA, with 198 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||384||$90,630,000||$236,016||$3,259||3.23%|
For 2021, Staunton Financial's most frequently cited loan purpose was Home Purchase, with 1,738 originations. The 2nd most popular reason was Refi, with 691 originations.
For 2021, Staunton Financial's most frequently cited loan duration was 30 Year, with 2,427 originations. The 2nd most popular length was 15 Year, with 275 originations.
Origination Fees/Closing Costs
Staunton Financial's average total fees were $3,739, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,303 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, Staunton Financial's average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 3-4%, with 1,299 originations.
2021 saw Staunton Financial place emphasis on $200k-400k loans with 1,292 originations, totaling $358,780,000 in origination value.
Staunton Financial lent most frequently to those with incomes in the $50k-75k range, with 682 originations. The second most popular income band? $100k-150k, with 627 originations.
Applicant Debt to Income Ratio
Staunton Financial lent most frequently to those with DTI ratios of 20-30%, with 627 originations. The next most common DTI ratio? 30-36%, with 523 originations.
Approval RatesTotal approvals of all applications
Staunton Financial has an average approval rate.
Pick RateApprovals leading to origination
Staunton Financial has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2021 CPFB Complaints||% of Total Issues|
|STANDARD MORTGAGE CORPORATION||Conventional home mortgage||Struggling to pay mortgage||1||16.7%|
|STANDARD MORTGAGE CORPORATION||Conventional home mortgage||Trouble during payment process||1||16.7%|
|STANDARD MORTGAGE CORPORATION||FHA mortgage||Struggling to pay mortgage||2||33.3%|
|STANDARD MORTGAGE CORPORATION||Other type of mortgage||Trouble during payment process||2||33.3%|