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, 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 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

    67

    Origination Dollar Volume (All Markets)

    $13,945,000

    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) 66 $13,730,000 $208,030 $0 3.66%
    RENO, NV (FHA|USDA|VA) 1 $215,000 $215,000 $0 4.88%
    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 67 $13,945,000 $208,134 $0 3.68%

    For 2020, Weststar Credit Union's most frequently originated type of loan was Conventional, with 67 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 38 $7,280,000 $191,579 $0 3.82%
    Refi 20 $3,790,000 $189,500 $0 3.44%
    Home Purchase 9 $2,875,000 $319,444 $0 3.63%

    For 2020, Weststar Credit Union's most frequently cited loan purpose was Cash Out Refi, with 38 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 52 $11,530,000 $221,731 $0 3.64%
    20 Year 8 $1,310,000 $163,750 $0 4.14%
    15 Year 6 $960,000 $160,000 $0 3.48%
    Other 1 $145,000 $145,000 $0 3.25%

    For 2020, Weststar Credit Union's most frequently cited loan duration was 30 Year, with 52 originations. The 2nd most popular length was 20 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 36 $7,410,000 $205,833
    $1k-2k 12 $1,630,000 $135,833
    $2k-3k 11 $2,225,000 $202,273
    $3k-4k 6 $1,750,000 $291,667
    $4k-5k 1 $305,000 $305,000
    $5k+ 1 $625,000 $625,000

    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 36 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 45 $8,775,000 $195,000
    4-5% 16 $3,380,000 $211,250
    2.5-3% 5 $1,595,000 $319,000
    5-6% 1 $195,000 $195,000

    During 2020, Weststar Credit Union's average interest rate for loans was 3.64%, while their most frequently originated rate bucket for loans was 3-4%, with 45 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 32 $8,240,000 $257,500 $0 3.72%
    $100k-200k 24 $3,810,000 $158,750 $0 3.68%
    $100,000 or less 9 $745,000 $82,778 $0 3.53%
    $400k-600k 1 $525,000 $525,000 $0 4.38%
    $600k-1MM 1 $625,000 $625,000 $0 3.00%

    2020 saw Weststar Credit Union place emphasis on $200k-400k loans with 32 originations, totaling $8,240,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 19 $2,955,000 $155,526 $0 3.51%
    $50k-75k 17 $3,175,000 $186,765 $0 3.80%
    $75k-100k 14 $2,870,000 $205,000 $0 3.54%
    $150k-250k 7 $1,755,000 $250,714 $0 3.73%
    $250k+ 5 $2,105,000 $421,000 $0 3.43%
    $100k-150k 4 $990,000 $247,500 $0 4.59%

    Weststar Credit Union lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $50k-75k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 24 $5,030,000 $209,583 $0 3.56%
    30-36% 14 $3,020,000 $215,714 $0 3.86%
    <20% 5 $1,145,000 $229,000 $0 3.65%
    37% 5 $1,255,000 $251,000 $0 3.55%
    36% 4 $960,000 $240,000 $0 4.19%
    40% 3 $535,000 $178,333 $0 3.63%
    39% 2 $420,000 $210,000 $0 3.25%
    41% 2 $410,000 $205,000 $0 3.81%
    43% 2 $400,000 $200,000 $0 3.44%
    44% 2 $270,000 $135,000 $0 3.63%
    45% 1 $95,000 $95,000 $0 4.00%
    38% 1 $75,000 $75,000 $0 3.50%
    48% 1 $225,000 $225,000 $0 4.00%
    42% 1 $105,000 $105,000 $0 3.63%

    Weststar Credit Union lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 51 $10,745,000 $210,686 $0 3.64%
    Asian 11 $2,285,000 $207,727 $0 3.84%
    American Indian 2 $410,000 $205,000 $0 3.44%
    Black 2 $410,000 $205,000 $0 3.88%
    Not applicable 1 $95,000 $95,000 $0 4.00%

    Approval Rates

    Total approvals of all applications
    85.23%

    Weststar Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 67 $13,945,000 $208,134

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 67 $13,945,000 $208,134

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $685,000 $97,857 $0 3.52%
    40-60% 16 $2,960,000 $185,000 $0 3.35%
    60-80% 24 $5,190,000 $216,250 $0 3.77%
    80-100% 19 $5,055,000 $266,053 $0 3.88%
    Under 20% 1 $55,000 $55,000 $0 4.25%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    WESTSTAR MORTGAGE CORPORATION Conventional home mortgage Incorrect information on your report 1 50.0%
    WESTSTAR MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 1 50.0%