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 Jackson among others. We have data for 18 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% 4/21/24
    30 Year Conventional Refi 6.53% 4/21/24
    30 Year Cash-out Refi 6.77% 4/21/24
    30 Year FHA Purchase 7.48% 4/21/24
    30 Year FHA Refi 7.35% 4/21/24
    30 Year VA Purchase 6.32% 4/21/24
    30 Year VA Refi 5.78% 4/21/24
    30 Year USDA Purchase 6.93% 4/21/24
    15 Year Conventional Purchase 6.04% 4/21/24
    15 Year Conventional Refi 5.98% 4/21/24
    15 Year Cash-out Refi 5.98% 4/21/24
    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

    1,997

    Origination Dollar Volume (All Markets)

    $456,185,000

    Awards

    STAUNTON FINANCIAL 30 Year Conventional Loans bronze STAUNTON FINANCIAL 30 Year Conventional Loans silver
    Show all (2) 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) 1,498 $345,110,000 $230,381 $3,477 4.18%
    ANN ARBOR, MI (FHA|USDA|VA) 270 $68,410,000 $253,370 $3,171 4.08%
    Traverse City, MI (FHA|USDA|VA) 77 $16,315,000 $211,883 $3,289 4.27%
    Outside of Metro Areas 37 $6,005,000 $162,297 $3,624 4.33%
    FLINT, MI (FHA|USDA|VA) 31 $5,245,000 $169,194 $3,835 4.23%
    JACKSON, MI (FHA|USDA|VA) 21 $3,885,000 $185,000 $3,074 4.15%
    MONROE, MI (FHA|USDA|VA) 19 $3,475,000 $182,895 $3,572 4.22%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 14 $2,520,000 $180,000 $4,043 4.23%
    Adrian, MI (FHA|USDA|VA) 12 $1,810,000 $150,833 $3,417 4.75%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 6 $1,110,000 $185,000 $2,694 4.00%
    MUSKEGON, MI (FHA|USDA|VA) 2 $800,000 $400,000 $3,237 4.13%
    Cadillac, MI (FHA|USDA|VA) 4 $460,000 $115,000 $4,935 4.13%
    Holland, MI (FHA|USDA|VA) 1 $285,000 $285,000 $2,879 4.13%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $225,000 $225,000 $2,301 3.25%
    Big Rapids, MI (FHA|USDA|VA) 1 $205,000 $205,000 $3,071 3.63%
    MIDLAND, MI (FHA|USDA|VA) 1 $155,000 $155,000 $2,620 3.88%
    BATTLE CREEK, MI (FHA|USDA|VA) 1 $85,000 $85,000 $2,453 4.63%
    Ludington, MI (FHA|USDA|VA) 1 $85,000 $85,000 $3,375 4.75%
    Staunton Financial's top markets include Detroit, Ann Arbor, Traverse City, Flint, and Jackson 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.

    Wanigas Credit Union
    Similarity Rank: 126
    BIRMINGHAM-BLOOMFIELD Credit Union
    Similarity Rank: 159
    MONROE COUNTY COMMUNITY CREDIT UNION
    Similarity Rank: 238
    LAFCU
    Similarity Rank: 289
    Polish-American Federal Credit Union
    Similarity Rank: 297
    Macatawa Bank
    Similarity Rank: 297
    ADVANTAGE ONE Credit Union
    Similarity Rank: 320
    KENT COUNTY CREDIT UNION
    Similarity Rank: 344
    West Michigan Credit Union
    Similarity Rank: 364
    TLC COMMUNITY Credit Union
    Similarity Rank: 378

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,761 $414,585,000 $235,426 $3,102 4.17%
    FHA 169 $26,725,000 $158,136 $5,804 4.30%
    VA 48 $11,950,000 $248,958 $6,900 4.03%
    USDA 19 $2,925,000 $153,947 $4,509 4.19%

    For 2019, Staunton Financial's most frequently originated type of loan was Conventional, with 1,761 originations. Their 2nd most popular type was FHA, with 169 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,545 $339,035,000 $219,440 $3,580 4.22%
    Refi 273 $76,715,000 $281,007 $2,803 3.81%
    Cash Out Refi 179 $40,435,000 $225,894 $3,149 4.33%

    For 2019, Staunton Financial's most frequently cited loan purpose was Home Purchase, with 1,545 originations. The 2nd most popular reason was Refi, with 273 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,797 $410,515,000 $228,445 $3,491 4.24%
    15 Year 128 $30,410,000 $237,578 $2,984 3.53%
    20 Year 53 $11,315,000 $213,491 $2,883 3.82%
    10 Year 11 $1,615,000 $146,818 $2,771 3.36%
    Other 8 $2,330,000 $291,250 $2,648 4.19%

    For 2019, Staunton Financial's most frequently cited loan duration was 30 Year, with 1,797 originations. The 2nd most popular length was 15 Year, with 128 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,209 $266,245,000 $220,219
    $<1k 619 $146,075,000 $235,985
    $2k-3k 127 $29,115,000 $229,252
    $3k-4k 26 $7,920,000 $304,615
    $4k-5k 8 $2,940,000 $367,500
    $5k+ 8 $3,890,000 $486,250

    Staunton Financial's average total fees were $3,491, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,209 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 960 $247,730,000 $258,052
    4-5% 921 $184,595,000 $200,429
    5-6% 81 $14,475,000 $178,704
    2.5-3% 18 $4,850,000 $269,444
    6-7% 10 $3,380,000 $338,000
    Over 8% 6 $1,050,000 $175,000
    7-8% 1 $105,000 $105,000

    During 2019, Staunton Financial's average interest rate for loans was 4.24%, while their most frequently originated rate bucket for loans was 3-4%, with 960 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 807 $122,915,000 $152,311 $3,319 4.26%
    $200k-400k 796 $218,110,000 $274,008 $3,532 4.05%
    $100,000 or less 203 $15,685,000 $77,266 $2,995 4.51%
    $400k-600k 163 $76,695,000 $470,521 $3,769 4.00%
    $600k-1MM 26 $19,420,000 $746,923 $5,205 3.89%
    $1MM+ 2 $3,360,000 $1,680,000 $6,044 4.75%

    2019 saw Staunton Financial place emphasis on $100k-200k loans with 807 originations, totaling $122,915,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 514 $89,100,000 $173,346 $3,464 4.19%
    $100k-150k 397 $106,425,000 $268,073 $3,303 4.12%
    $50k or less 364 $43,880,000 $120,549 $3,255 4.35%
    $75k-100k 344 $74,890,000 $217,703 $3,652 4.14%
    $150k-250k 272 $93,490,000 $343,713 $3,393 4.07%
    $250k+ 106 $48,400,000 $456,604 $3,808 4.10%

    Staunton Financial lent most frequently to those with incomes in the $50k-75k range, with 514 originations. The second most popular income band? $100k-150k, with 397 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 408 $99,920,000 $244,902 $3,172 4.06%
    30-36% 367 $86,625,000 $236,035 $3,293 4.16%
    44% 142 $26,350,000 $185,563 $3,648 4.39%
    <20% 125 $30,615,000 $244,920 $3,140 4.03%
    42% 89 $19,395,000 $217,921 $3,439 4.33%
    43% 89 $18,545,000 $208,371 $3,467 4.36%
    48% 80 $18,660,000 $233,250 $3,709 4.10%
    39% 77 $16,855,000 $218,896 $3,565 4.21%
    38% 77 $16,885,000 $219,286 $3,457 4.18%
    40% 71 $16,425,000 $231,338 $3,514 4.17%
    49% 71 $15,945,000 $224,577 $3,682 4.12%
    37% 70 $16,070,000 $229,571 $3,224 4.18%
    41% 70 $13,910,000 $198,714 $3,498 4.16%
    36% 66 $14,670,000 $222,273 $3,058 4.20%
    46% 55 $12,265,000 $223,000 $3,848 4.23%
    45% 54 $12,550,000 $232,407 $3,397 4.45%
    47% 48 $12,250,000 $255,208 $4,252 4.08%
    50-60% 36 $7,420,000 $206,111 $5,706 4.28%
    >60% 2 $830,000 $415,000 $3,253 4.69%

    Staunton Financial lent most frequently to those with DTI ratios of 20-30%, with 408 originations. The next most common DTI ratio? 30-36%, with 367 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,726 $394,850,000 $228,766 $3,424 4.17%
    Not provided 94 $23,550,000 $250,532 $3,333 4.18%
    Asian 72 $19,010,000 $264,028 $3,336 4.00%
    Black 95 $16,725,000 $176,053 $3,768 4.35%
    American Indian 10 $2,050,000 $205,000 $3,809 4.38%

    Approval Rates

    Total approvals of all applications
    94.25%

    Staunton Financial has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.49%

    Staunton Financial has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,997 $456,185,000 $228,435

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 13 $1,395,000 $107,308
    Single Family (1-4 Units):Site-Built 1,984 $454,790,000 $229,229

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $4,335,000 $160,556 $2,726 3.88%
    40-60% 140 $28,480,000 $203,429 $2,772 3.96%
    60-80% 620 $153,340,000 $247,323 $3,104 4.14%
    80-100% 1,192 $265,800,000 $222,987 $3,627 4.23%
    Over 100% 16 $4,070,000 $254,375 $9,018 4.13%
    Under 20% 2 $160,000 $80,000 $2,928 3.69%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    STANDARD MORTGAGE CORPORATION Conventional home mortgage Struggling to pay mortgage 1 33.3%
    STANDARD MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 1 33.3%
    STANDARD MORTGAGE CORPORATION FHA mortgage Trouble during payment process 1 33.3%