Weststar Credit Union Mortgage Rates, Fees & Info
LAS VEGAS, NVLEI: 549300QHJQ0R19ER0566
Tax ID: 88-0132649
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Weststar Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Weststar Credit Union has a high proportion of conventional loans. Their top two markets are Las Vegas and Reno .Weststar Credit Union has an average approval rate when compared to the average across all lenders. They typically have relatively high rates.
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Originations
37Origination Dollar Volume (All Markets)
$6,385,000Top 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 |
---|---|---|---|---|---|
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 32 | $5,460,000 | $170,625 | $0 | 5.17% |
RENO, NV (FHA|USDA|VA) | 5 | $925,000 | $185,000 | $0 | 5.63% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 37 | $6,385,000 | $172,568 | $0 | 5.23% |
For 2018, Weststar Credit Union's most frequently originated type of loan was Conventional, with 37 originations.
Loan Reason
Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Cash Out Refi | 22 | $3,670,000 | $166,818 | $0 | 5.48% |
Home Purchase | 10 | $1,900,000 | $190,000 | $0 | 5.01% |
Refi | 5 | $815,000 | $163,000 | $0 | 4.55% |
For 2018, Weststar Credit Union's most frequently cited loan purpose was Cash Out Refi, with 22 originations. The 2nd most popular reason was Home Purchase, with 10 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
30 Year | 25 | $4,365,000 | $174,600 | $0 | 5.44% |
20 Year | 7 | $1,405,000 | $200,714 | $0 | 4.95% |
15 Year | 5 | $615,000 | $123,000 | $0 | 4.58% |
For 2018, Weststar Credit Union's most frequently cited loan duration was 30 Year, with 25 originations. The 2nd most popular length was 20 Year, with 7 originations.
Origination Fees/Closing Costs
Weststar Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 19 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
5-6% | 21 | $3,505,000 | $166,905 |
4-5% | 13 | $2,205,000 | $169,615 |
6-7% | 2 | $580,000 | $290,000 |
3-4% | 1 | $95,000 | $95,000 |
During 2018, Weststar Credit Union's average interest rate for loans was 5.44%, while their most frequently originated rate bucket for loans was 5-6%, with 21 originations.
Loan Sizing
2018 saw Weststar Credit Union place emphasis on $100k-200k loans with 18 originations, totaling $2,590,000 in origination value.
Applicant Income
Weststar Credit Union lent most frequently to those with incomes in the $50k or less range, with 14 originations. The second most popular income band? $50k-75k, with 8 originations.
Applicant Debt to Income Ratio
Weststar Credit Union lent most frequently to those with DTI ratios of 30-36%, with 11 originations. The next most common DTI ratio? 20-30%, with 8 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Black | 37 | $6,385,000 | $172,568 | $0 | 5.23% |
Approval Rates
Total approvals of all applications80.65%
Weststar Credit Union has a below average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
159.45 | 1 | $205,000 | $205,000 |
1713.5 | 1 | $145,000 | $145,000 |
2032.45 | 1 | $175,000 | $175,000 |
2108.5 | 1 | $175,000 | $175,000 |
2360.5 | 1 | $235,000 | $235,000 |
2388.5 | 1 | $205,000 | $205,000 |
2674.45 | 1 | $235,000 | $235,000 |
273.5 | 2 | $230,000 | $115,000 |
309.45 | 4 | $520,000 | $130,000 |
313.5 | 1 | $245,000 | $245,000 |
348.5 | 1 | $225,000 | $225,000 |
NA | 22 | $3,790,000 | $172,273 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Single Family (1-4 Units):Manufactured | 1 | $135,000 | $135,000 |
Single Family (1-4 Units):Site-Built | 36 | $6,250,000 | $173,611 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
WESTSTAR MORTGAGE CORPORATION | Conventional home mortgage | Closing on a mortgage | 1 | 50.0% |
WESTSTAR MORTGAGE CORPORATION | Conventional home mortgage | Incorrect information on your report | 1 | 50.0% |