Star Bank Mortgage Rates, Fees & Info

Maple Lake, MN

LEI: 549300MNZNDD5FZ2PF62

Tax ID: 41-0256570

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Mortgage Data

Review & Overview

Star Bank is a smaller bank specializing in Refi, Home Purchase, and Other loans. Star Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, St. Cloud, Fergus Falls, Faribault, and Alexandria among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Star Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

47

Origination Dollar Volume (All Markets)

$5,435,000

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
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 14 $2,310,000 $165,000 $0 0.00%
Outside of Metro Areas 25 $1,565,000 $62,600 $0 0.00%
ST. CLOUD, MN (FHA|USDA|VA) 3 $885,000 $295,000 $0 0.00%
Fergus Falls, MN (FHA|USDA|VA) 3 $355,000 $118,333 $0 0.00%
Faribault-Northfield, MN (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
Alexandria, MN (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Star Bank's top markets include Minneapolis, St. Cloud, Fergus Falls, Faribault, and Alexandria among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 47 $5,435,000 $115,638 $0 0.00%

    For 2019, Star Bank's most frequently originated type of loan was Conventional, with 47 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 21 $1,965,000 $93,571 $0 0.00%
    Home Purchase 14 $2,070,000 $147,857 $0 0.00%
    Other 7 $1,155,000 $165,000 $0 0.00%
    Home Improvement 5 $245,000 $49,000 $0 0.00%

    For 2019, Star Bank's most frequently cited loan purpose was Refi, with 21 originations. The 2nd most popular reason was Home Purchase, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 47 $5,435,000 $115,638 $0 0.00%

    For 2019, Star Bank's most frequently cited loan duration was Other, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 32 $1,530,000 $47,813 $0 0.00%
    $100k-200k 6 $790,000 $131,667 $0 0.00%
    $200k-400k 6 $1,470,000 $245,000 $0 0.00%
    $400k-600k 2 $1,010,000 $505,000 $0 0.00%
    $600k-1MM 1 $635,000 $635,000 $0 0.00%

    2019 saw Star Bank place emphasis on $100,000 or less loans with 32 originations, totaling $1,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 12 $890,000 $74,167 $0 0.00%
    $50k or less 10 $440,000 $44,000 $0 0.00%
    $100k-150k 6 $590,000 $98,333 $0 0.00%
    $75k-100k 6 $690,000 $115,000 $0 0.00%
    $150k-250k 1 $35,000 $35,000 $0 0.00%

    Star Bank lent most frequently to those with incomes in the $50k-75k range, with 12 originations. The second most popular income band? $50k or less, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 47 $5,435,000 $115,638 $0 0.00%

    Star Bank lent most frequently to those with DTI ratios of Exempt%, with 47 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 12 $2,790,000 $232,500 $0 0.00%
    White 30 $1,930,000 $64,333 $0 0.00%
    Not provided 4 $670,000 $167,500 $0 0.00%
    Native Hawaiian or Islander 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.83%

    Star Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.98%

    Star Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 47 $5,435,000 $115,638

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 47 $5,435,000 $115,638