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, Cape Coral, Columbus, and Youngstown 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.
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 | 7.01% | 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
72Origination Dollar Volume (All Markets)
$4,350,000Top 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 |
|---|---|---|---|---|---|
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 64 | $3,650,000 | $57,031 | $0 | 0.00% |
| AKRON, OH (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
| Salem, OH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
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: 540
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 70 | $4,020,000 | $57,429 | $0 | 0.00% |
| VA | 2 | $330,000 | $165,000 | $0 | 0.00% |
For 2019, Stark Federal Credit Union's most frequently originated type of loan was Conventional, with 70 originations. Their 2nd most popular type was VA, with 2 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 53 | $2,445,000 | $46,132 | $0 | 0.00% |
| Home Purchase | 16 | $1,550,000 | $96,875 | $0 | 0.00% |
| Refi | 3 | $355,000 | $118,333 | $0 | 0.00% |
For 2019, Stark Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 53 originations. The 2nd most popular reason was Home Purchase, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 72 | $4,350,000 | $60,417 | $0 | 0.00% |
For 2019, Stark Federal Credit Union's most frequently cited loan duration was Other, with 72 originations.
Loan Sizing
2019 saw Stark Federal Credit Union place emphasis on $100,000 or less loans with 61 originations, totaling $2,595,000 in origination value.
Applicant Income
Stark Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $50k or less, with 19 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 72 | $4,350,000 | $60,417 | $0 | 0.00% |
Stark Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 72 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 66 | $4,050,000 | $61,364 | $0 | 0.00% |
| Black | 5 | $205,000 | $41,000 | $0 | 0.00% |
| Asian | 1 | $95,000 | $95,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications88.99%
Stark Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination69.44%
Stark Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 72 | $4,350,000 | $60,417 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 72 | $4,350,000 | $60,417 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Storehouse Mortgage, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |