Stark Federal Credit Union Mortgage Rates, Fees & Info

Canton, OH

LEI: 549300U1BTGE4PJ8EK24

Tax ID: 34-0908500

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Stark Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Stark Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Canton, Akron, Pensacola, and Salem among others. We have data for 4 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 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.01% 5/4/24
    30 Year Conventional Refi 6.60% 5/4/24
    30 Year Cash-out Refi 7.36% 5/4/24
    30 Year FHA Purchase 6.27% 5/4/24
    15 Year Conventional Refi 6.90% 5/4/24
    15 Year Cash-out Refi 6.90% 5/4/24
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Stark Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    72

    Origination Dollar Volume (All Markets)

    $4,640,000

    Awards

    STARK FEDERAL CREDIT UNION 30 Year Conventional Loans bronze
    Show all (1) awards

    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) 65 $4,005,000 $61,615 $1,761 5.22%
    AKRON, OH (FHA|USDA|VA) 4 $320,000 $80,000 $2,719 5.22%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,851 4.13%
    Salem, OH (FHA|USDA|VA) 2 $110,000 $55,000 $2,400 5.31%
    Stark Federal Credit Union's top markets include Canton, Akron, Pensacola, and Salem among others.

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

    • 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.

    STARK FEDERAL CREDIT UNION
    Similarity Rank: 132
    HOME MORTGAGE ASSURED CORPORATION
    Similarity Rank: 425
    Western Ohio Mortgage Corporation
    Similarity Rank: 832
    The Cortland Savings and Banking Company
    Similarity Rank: 1300
    MYCUMORTGAGE, LLC
    Similarity Rank: 1380
    American Midwest Mortgage Corporation
    Similarity Rank: 1914
    First Federal Savings and Loan Association of Lakewood
    Similarity Rank: 2160
    Home Savings Bank
    Similarity Rank: 2262
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 2456
    The Farmers National Bank of Canfield
    Similarity Rank: 2668

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 67 $4,205,000 $62,761 $1,841 5.24%
    VA 5 $435,000 $87,000 $2,126 4.83%

    For 2018, Stark Federal Credit Union's most frequently originated type of loan was Conventional, with 67 originations. Their 2nd most popular type was VA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 57 $3,075,000 $53,947 $1,495 5.31%
    Cash Out Refi 11 $1,255,000 $114,091 $2,864 4.93%
    Refi 3 $255,000 $85,000 $2,601 4.79%
    Other 1 $55,000 $55,000 $2,538 3.63%

    For 2018, Stark Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 57 originations. The 2nd most popular reason was Cash Out Refi, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 25 $2,515,000 $100,600 $2,638 4.90%
    15 Year 24 $1,440,000 $60,000 $1,652 5.34%
    10 Year 12 $360,000 $30,000 $673 5.54%
    5 Year 10 $200,000 $20,000 $357 5.33%
    20 Year 1 $125,000 $125,000 $2,885 5.00%

    For 2018, Stark Federal Credit Union's most frequently cited loan duration was 30 Year, with 25 originations. The 2nd most popular length was 15 Year, with 24 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 34 $1,690,000 $49,706
    4-5% 31 $2,685,000 $86,613
    6-7% 6 $210,000 $35,000
    3-4% 1 $55,000 $55,000

    During 2018, Stark Federal Credit Union's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 5-6%, with 34 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 56 $2,460,000 $43,929 $1,486 5.26%
    $100k-200k 15 $1,975,000 $131,667 $2,737 5.11%
    $200k-400k 1 $205,000 $205,000 $3,851 4.13%

    2018 saw Stark Federal Credit Union place emphasis on $100,000 or less loans with 56 originations, totaling $2,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 27 $1,885,000 $69,815 $1,975 5.45%
    $50k or less 25 $1,265,000 $50,600 $2,100 4.86%
    $100k-150k 10 $700,000 $70,000 $1,308 5.33%
    $75k-100k 7 $655,000 $93,571 $2,339 5.23%
    $150k-250k 2 $100,000 $50,000 $342 5.75%
    $250k+ 1 $35,000 $35,000 $349 5.25%

    Stark Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 27 originations. The second most popular income band? $50k or less, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 22 $1,680,000 $76,364 $2,085 4.99%
    30-36% 20 $1,080,000 $54,000 $1,621 5.31%
    <20% 6 $330,000 $55,000 $1,794 4.97%
    41% 4 $230,000 $57,500 $2,712 4.97%
    37% 4 $150,000 $37,500 $1,091 5.28%
    40% 3 $185,000 $61,667 $1,698 5.67%
    36% 3 $305,000 $101,667 $2,830 5.08%
    39% 3 $145,000 $48,333 $1,098 5.13%
    45% 2 $200,000 $100,000 $1,438 6.13%
    38% 1 $45,000 $45,000 $0 6.00%
    42% 1 $95,000 $95,000 $2,693 5.13%
    43% 1 $105,000 $105,000 $2,685 5.38%
    49% 1 $75,000 $75,000 $2,776 5.25%
    >60% 1 $15,000 $15,000 $353 6.75%

    Stark Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? 30-36%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 70 $4,570,000 $65,286 $1,926 5.20%
    Black 2 $70,000 $35,000 $428 5.63%

    Approval Rates

    Total approvals of all applications
    87.39%

    Stark Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.83%

    Stark Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 72 $4,640,000 $64,444

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 72 $4,640,000 $64,444

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $630,000 $45,000 $1,111 5.42%
    40-60% 4 $310,000 $77,500 $2,657 4.84%
    60-80% 16 $1,600,000 $100,000 $2,733 4.83%
    80-100% 14 $1,500,000 $107,143 $2,618 4.83%
    Under 20% 24 $600,000 $25,000 $342 5.63%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Seterus, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 10 3.7%
    Seterus, Inc. Conventional home mortgage Closing on a mortgage 8 3.0%
    Seterus, Inc. Conventional home mortgage Incorrect information on your report 2 0.7%
    Seterus, Inc. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 2 0.7%
    Seterus, Inc. Conventional home mortgage Struggling to pay mortgage 70 26.0%
    Seterus, Inc. Conventional home mortgage Trouble during payment process 114 42.4%
    Seterus, Inc. FHA mortgage Closing on a mortgage 4 1.5%
    Seterus, Inc. FHA mortgage Struggling to pay mortgage 10 3.7%
    Seterus, Inc. FHA mortgage Trouble during payment process 9 3.3%
    Seterus, Inc. Home equity loan or line of credit (HELOC) Incorrect information on your report 1 0.4%
    Seterus, Inc. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 0.4%
    Seterus, Inc. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 0.4%
    Seterus, Inc. Other type of mortgage Incorrect information on your report 2 0.7%
    Seterus, Inc. Other type of mortgage Struggling to pay mortgage 17 6.3%
    Seterus, Inc. Other type of mortgage Trouble during payment process 18 6.7%