Weststar Credit Union Mortgage Rates, Fees & Info

LAS VEGAS, NV

LEI: 549300QHJQ0R19ER0566

Tax ID: 88-0132649

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Weststar Credit Union is a smaller credit union specializing in Cash Out Refi and Refi 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 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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    Originations

    37

    Origination Dollar Volume (All Markets)

    $8,105,000

    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
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 36 $7,950,000 $220,833 $0 4.36%
    RENO, NV (FHA|USDA|VA) 1 $155,000 $155,000 $0 4.13%
    Weststar Credit Union's top markets include Las Vegas and Reno among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 37 $8,105,000 $219,054 $0 4.35%

    For 2019, 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 18 $3,900,000 $216,667 $0 4.53%
    Refi 13 $2,785,000 $214,231 $0 4.00%
    Home Purchase 6 $1,420,000 $236,667 $0 4.58%

    For 2019, Weststar Credit Union's most frequently cited loan purpose was Cash Out Refi, with 18 originations. The 2nd most popular reason was Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 23 $5,575,000 $242,391 $0 4.65%
    20 Year 10 $1,940,000 $194,000 $0 3.86%
    10 Year 2 $290,000 $145,000 $0 3.56%
    15 Year 2 $300,000 $150,000 $0 4.25%

    For 2019, Weststar Credit Union's most frequently cited loan duration was 30 Year, with 23 originations. The 2nd most popular length was 20 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 19 $4,765,000 $250,789
    $1k-2k 10 $1,420,000 $142,000
    $2k-3k 7 $1,555,000 $222,143
    $3k-4k 1 $365,000 $365,000

    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
    4-5% 16 $3,650,000 $228,125
    3-4% 15 $3,205,000 $213,667
    5-6% 5 $1,035,000 $207,000
    6-7% 1 $215,000 $215,000

    During 2019, Weststar Credit Union's average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 4-5%, with 16 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 20 $5,000,000 $250,000 $0 4.37%
    $100k-200k 15 $2,135,000 $142,333 $0 4.36%
    $400k-600k 2 $970,000 $485,000 $0 4.19%

    2019 saw Weststar Credit Union place emphasis on $200k-400k loans with 20 originations, totaling $5,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 9 $1,775,000 $197,222 $0 4.83%
    $50k or less 9 $1,345,000 $149,444 $0 4.08%
    $75k-100k 8 $1,820,000 $227,500 $0 4.50%
    $100k-150k 5 $1,075,000 $215,000 $0 3.80%
    $150k-250k 4 $1,520,000 $380,000 $0 4.34%
    $250k+ 2 $570,000 $285,000 $0 4.25%

    Weststar Credit Union lent most frequently to those with incomes in the $50k-75k range, with 9 originations. The second most popular income band? $50k or less, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 10 $2,610,000 $261,000 $0 4.53%
    20-30% 6 $1,360,000 $226,667 $0 3.98%
    42% 5 $765,000 $153,000 $0 4.03%
    <20% 5 $855,000 $171,000 $0 4.00%
    38% 4 $850,000 $212,500 $0 4.25%
    45% 2 $480,000 $240,000 $0 6.06%
    48% 1 $155,000 $155,000 $0 4.13%
    37% 1 $235,000 $235,000 $0 4.00%
    39% 1 $285,000 $285,000 $0 4.25%
    41% 1 $365,000 $365,000 $0 5.25%
    44% 1 $145,000 $145,000 $0 5.13%

    Weststar Credit Union lent most frequently to those with DTI ratios of 30-36%, with 10 originations. The next most common DTI ratio? 20-30%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 29 $5,945,000 $205,000 $0 4.37%
    Asian 5 $1,235,000 $247,000 $0 4.33%
    Native Hawaiian or Islander 2 $720,000 $360,000 $0 4.06%
    Black 1 $205,000 $205,000 $0 4.63%

    Approval Rates

    Total approvals of all applications
    80.39%

    Weststar Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    123.5 1 $225,000 $225,000
    273.5 13 $3,365,000 $258,846
    315.45 14 $2,820,000 $201,429
    318.5 1 $125,000 $125,000
    353.5 1 $215,000 $215,000
    353.79 1 $305,000 $305,000
    357.4 1 $205,000 $205,000
    360.75 3 $575,000 $191,667
    363.8 1 $135,000 $135,000
    423.5 1 $135,000 $135,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 37 $8,105,000 $219,054

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $530,000 $132,500 $0 3.78%
    40-60% 9 $1,565,000 $173,889 $0 4.24%
    60-80% 14 $3,470,000 $247,857 $0 4.52%
    80-100% 10 $2,540,000 $254,000 $0 4.46%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    WESTSTAR MORTGAGE CORPORATION Conventional home mortgage Struggling to pay mortgage 1 20.0%
    WESTSTAR MORTGAGE CORPORATION FHA mortgage Trouble during payment process 1 20.0%
    WESTSTAR MORTGAGE CORPORATION Other type of mortgage Trouble during payment process 2 40.0%
    WESTSTAR MORTGAGE CORPORATION VA mortgage Trouble during payment process 1 20.0%