Stark Federal Credit Union Mortgage Rates, Fees & Info
Canton, OHLEI: 549300U1BTGE4PJ8EK24
Tax ID: 34-0908500
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Mortgage Data
Review & Overview
Stark Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Stark Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Canton, Akron, Youngstown, Salem, and New Philadelphia among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Stark Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Stark Federal Credit Union 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 relatively high 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.55% | 6/2/25 |
| 30 Year Cash-out Refi | 6.72% | 6/2/25 |
| 15 Year Conventional Purchase | 7.10% | 6/2/25 |
| 15 Year Conventional Refi | 7.56% | 6/2/25 |
| 15 Year Cash-out Refi | 7.56% | 6/2/25 |
| 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. | ||
Stark Federal Credit Union Mortgage Calculator
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This is not an official calculator from Stark Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
92Origination Dollar Volume (All Markets)
$5,350,000Relative Rate
Stark Federal Credit Union's average 30 year fixed mortgage rate was
7.23%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.68%.
Relative Fees (Closing Costs)
Stark Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,153.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 73 | $3,935,000 | $53,904 | $4,002 | 7.42% |
| AKRON, OH (FHA|USDA|VA) | 6 | $590,000 | $98,333 | $4,909 | 7.98% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 5 | $245,000 | $49,000 | $0 | 7.76% |
| Salem, OH (FHA|USDA|VA) | 4 | $240,000 | $60,000 | $0 | 7.81% |
| Outside of Metro Areas | 2 | $200,000 | $100,000 | $5,103 | 7.13% |
| New Philadelphia-Dover, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 7.99% |
| Wooster, OH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 6.49% |
Similar Lenders
We use machine learning to identify the top lenders compared against STARK FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 40
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 92 | $5,350,000 | $58,152 | $4,289 | 7.48% |
For 2024, Stark Federal Credit Union's most frequently originated type of loan was Conventional, with 92 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 76 | $3,810,000 | $50,132 | $0 | 7.50% |
| Refi | 9 | $425,000 | $47,222 | $0 | 7.60% |
| Home Purchase | 7 | $1,115,000 | $159,286 | $4,289 | 7.14% |
For 2024, Stark Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 76 originations. The 2nd most popular reason was Refi, with 9 originations.
Loan Duration/Length
For 2024, Stark Federal Credit Union's most frequently cited loan duration was 15 Year, with 42 originations. The 2nd most popular length was 5 Year, with 20 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 4 | $820,000 | $205,000 |
| $<1k | 3 | $295,000 | $98,333 |
Stark Federal Credit Union's average total fees were $4,153, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 62 | $3,580,000 | $57,742 |
| 6-7% | 25 | $1,515,000 | $60,600 |
| Over 8% | 4 | $230,000 | $57,500 |
| 5-6% | 1 | $25,000 | $25,000 |
During 2024, Stark Federal Credit Union's average interest rate for loans was 7.23%, while their most frequently originated rate bucket for loans was 7-8%, with 62 originations.
Loan Sizing
2024 saw Stark Federal Credit Union place emphasis on $100,000 or less loans with 79 originations, totaling $3,425,000 in origination value.
Applicant Income
Stark Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 25 originations. The second most popular income band? $100k-150k, with 19 originations.
Applicant Debt to Income Ratio
Stark Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? 30-36%, with 21 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.34%
Stark Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination83.70%
Stark Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 92 | $5,350,000 | $58,152 |