Staunton Financial Mortgage Rates, Fees & Info

SOUTHFIELD, MI

LEI: 549300KQQRECSLK8ID57

Tax ID: 38-1968360

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

Jump to:

  • 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

    Staunton Financial is a smaller mortgage company specializing in Home Purchase loans. Staunton Financial has a high proportion of conventional loans. They have an average proportion of FHA loans. 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 15 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 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
    30 Year Conventional Purchase 6.68% 11/22/24
    30 Year Conventional Refi 6.53% 11/22/24
    30 Year Cash-out Refi 6.77% 11/22/24
    30 Year FHA Purchase 7.48% 11/22/24
    30 Year FHA Refi 7.35% 11/22/24
    30 Year VA Purchase 6.32% 11/22/24
    30 Year VA Refi 5.78% 11/22/24
    30 Year USDA Purchase 6.93% 11/22/24
    15 Year Conventional Purchase 6.04% 11/22/24
    15 Year Conventional Refi 5.98% 11/22/24
    15 Year Cash-out Refi 5.98% 11/22/24
    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.

    Staunton Financial Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Staunton Financial. 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

    1,684

    Origination Dollar Volume (All Markets)

    $349,610,000

    Awards

    STAUNTON FINANCIAL FHA Loans bronze STAUNTON FINANCIAL FHA Loans silver STAUNTON FINANCIAL VA Loans bronze STAUNTON FINANCIAL 30 Year Conventional Loans silver
    Show all (4) 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
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1,282 $266,130,000 $207,590 $3,439 4.64%
    ANN ARBOR, MI (FHA|USDA|VA) 211 $49,085,000 $232,630 $3,407 4.57%
    Traverse City, MI (FHA|USDA|VA) 64 $13,050,000 $203,906 $3,305 4.60%
    FLINT, MI (FHA|USDA|VA) 29 $4,485,000 $154,655 $3,795 4.66%
    Outside of Metro Areas 30 $4,210,000 $140,333 $3,249 4.90%
    MONROE, MI (FHA|USDA|VA) 15 $2,915,000 $194,333 $4,219 4.83%
    JACKSON, MI (FHA|USDA|VA) 10 $2,140,000 $214,000 $5,062 4.79%
    Adrian, MI (FHA|USDA|VA) 8 $1,740,000 $217,500 $3,075 4.70%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 10 $1,690,000 $169,000 $3,243 4.55%
    Cadillac, MI (FHA|USDA|VA) 12 $1,650,000 $137,500 $3,185 4.78%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 8 $1,520,000 $190,000 $3,674 4.77%
    Marquette, MI (FHA|USDA|VA) 2 $410,000 $205,000 $3,128 4.50%
    Holland, MI (FHA|USDA|VA) 1 $245,000 $245,000 $2,764 5.13%
    Alpena, MI (FHA|USDA|VA) 1 $185,000 $185,000 $2,739 4.75%
    SAGINAW, MI (FHA|USDA|VA) 1 $155,000 $155,000 $2,820 4.63%
    Staunton Financial's top markets include Detroit, Ann Arbor, Traverse City, Flint, and Monroe among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)

    • Similar Lenders

    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.

    Polish-American Federal Credit Union
    Similarity Rank: 32
    St James Mortgage Corporation
    Similarity Rank: 120
    MONROE COUNTY COMMUNITY CREDIT UNION
    Similarity Rank: 170
    Dort Financial Credit Union
    Similarity Rank: 180
    Macatawa Bank
    Similarity Rank: 195
    Community West Credit Union
    Similarity Rank: 276
    First Federal Bank of the Midwest
    Similarity Rank: 276
    FINANCIAL PLUS CREDIT UNION
    Similarity Rank: 280
    CASE
    Similarity Rank: 300
    Isabella Bank
    Similarity Rank: 304

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,443 $308,635,000 $213,884 $3,078 4.66%
    FHA 171 $25,745,000 $150,556 $5,535 4.57%
    VA 46 $11,260,000 $244,783 $6,532 4.42%
    USDA 24 $3,970,000 $165,417 $4,647 4.56%

    For 2018, Staunton Financial's most frequently originated type of loan was Conventional, with 1,443 originations. Their 2nd most popular type was FHA, with 171 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,526 $318,110,000 $208,460 $3,490 4.64%
    Cash Out Refi 110 $21,540,000 $195,818 $2,984 4.78%
    Refi 48 $9,960,000 $207,500 $3,024 4.47%

    For 2018, Staunton Financial's most frequently cited loan purpose was Home Purchase, with 1,526 originations. The 2nd most popular reason was Cash Out Refi, with 110 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,529 $315,595,000 $206,406 $3,473 4.68%
    15 Year 101 $22,635,000 $224,109 $3,268 4.17%
    20 Year 40 $8,660,000 $216,500 $2,926 4.48%
    10 Year 11 $1,975,000 $179,545 $3,033 4.09%
    Other 3 $745,000 $248,333 $3,015 4.79%

    For 2018, Staunton Financial's most frequently cited loan duration was 30 Year, with 1,529 originations. The 2nd most popular length was 15 Year, with 101 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,091 $248,065,000 $227,374
    $1k-2k 470 $73,020,000 $155,362
    $2k-3k 93 $19,705,000 $211,882
    $3k-4k 15 $3,875,000 $258,333
    $5k+ 9 $3,315,000 $368,333
    $4k-5k 6 $1,630,000 $271,667

    Staunton Financial's average total fees were $3,473, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,091 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,326 $278,570,000 $210,083
    5-6% 204 $35,100,000 $172,059
    3-4% 145 $34,515,000 $238,034
    6-7% 7 $805,000 $115,000
    2.5-3% 1 $415,000 $415,000
    Over 8% 1 $205,000 $205,000

    During 2018, Staunton Financial's average interest rate for loans was 4.68%, while their most frequently originated rate bucket for loans was 4-5%, with 1,326 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 727 $108,815,000 $149,677 $3,361 4.65%
    $200k-400k 626 $168,750,000 $269,569 $3,608 4.62%
    $100,000 or less 231 $17,315,000 $74,957 $2,955 4.76%
    $400k-600k 79 $35,945,000 $455,000 $4,064 4.47%
    $600k-1MM 16 $12,630,000 $789,375 $4,260 4.45%
    $1MM+ 5 $6,155,000 $1,231,000 $5,019 4.10%

    2018 saw Staunton Financial place emphasis on $100k-200k loans with 727 originations, totaling $108,815,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 464 $77,980,000 $168,060 $3,423 4.66%
    $50k or less 356 $41,520,000 $116,629 $3,320 4.63%
    $100k-150k 315 $76,465,000 $242,746 $3,474 4.67%
    $75k-100k 299 $63,995,000 $214,030 $3,561 4.64%
    $150k-250k 189 $57,805,000 $305,847 $3,444 4.62%
    $250k+ 61 $31,845,000 $522,049 $3,590 4.51%

    Staunton Financial lent most frequently to those with incomes in the $50k-75k range, with 464 originations. The second most popular income band? $50k or less, with 356 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 321 $68,875,000 $214,564 $3,254 4.69%
    20-30% 302 $63,220,000 $209,338 $3,261 4.59%
    <20% 85 $18,435,000 $216,882 $3,102 4.48%
    49% 83 $16,275,000 $196,084 $3,602 4.64%
    44% 80 $16,190,000 $202,375 $3,565 4.66%
    39% 80 $16,440,000 $205,500 $3,620 4.69%
    43% 78 $16,320,000 $209,231 $3,777 4.63%
    41% 77 $14,255,000 $185,130 $3,393 4.64%
    42% 73 $14,425,000 $197,603 $3,750 4.66%
    40% 68 $14,970,000 $220,147 $3,398 4.64%
    36% 66 $13,990,000 $211,970 $3,586 4.62%
    47% 61 $12,355,000 $202,541 $3,226 4.70%
    38% 60 $12,080,000 $201,333 $3,388 4.65%
    48% 56 $11,710,000 $209,107 $3,532 4.73%
    45% 54 $12,030,000 $222,778 $3,519 4.70%
    37% 53 $10,045,000 $189,528 $3,148 4.61%
    46% 47 $10,375,000 $220,745 $3,367 4.69%
    50-60% 40 $7,620,000 $190,500 $5,560 4.61%

    Staunton Financial lent most frequently to those with DTI ratios of 30-36%, with 321 originations. The next most common DTI ratio? 20-30%, with 302 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,440 $300,720,000 $208,833 $3,410 4.65%
    Black 103 $16,465,000 $159,854 $3,910 4.70%
    Not provided 74 $15,880,000 $214,595 $3,401 4.61%
    Asian 62 $14,830,000 $239,194 $3,438 4.47%
    American Indian 4 $1,350,000 $337,500 $4,522 4.53%
    Asian Indian 1 $365,000 $365,000 $3,534 4.75%

    Approval Rates

    Total approvals of all applications
    93.33%

    Staunton Financial has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.59%

    Staunton Financial has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,684 $349,610,000 $207,607

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 12 $1,350,000 $112,500
    Single Family (1-4 Units):Site-Built 1,672 $348,260,000 $208,289

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $2,455,000 $106,739 $2,435 4.57%
    40-60% 94 $17,580,000 $187,021 $3,025 4.52%
    60-80% 434 $100,200,000 $230,876 $3,094 4.67%
    80-100% 1,116 $224,910,000 $201,532 $3,536 4.64%
    Over 100% 14 $4,210,000 $300,714 $11,741 4.46%
    Under 20% 3 $255,000 $85,000 $2,062 4.17%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    STANDARD MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 2 66.7%
    STANDARD MORTGAGE CORPORATION VA mortgage Trouble during payment process 1 33.3%