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 Refi loans. Stark Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Canton, Akron, and Salem among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Stark Federal Credit Union has an above 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
84Origination Dollar Volume (All Markets)
$8,340,000Top 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) | 80 | $7,920,000 | $99,000 | $0 | 0.00% |
| AKRON, OH (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $0 | 0.00% |
| Salem, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $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: 1166
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 83 | $8,185,000 | $98,614 | $0 | 0.00% |
| VA | 1 | $155,000 | $155,000 | $0 | 0.00% |
For 2020, Stark Federal Credit Union's most frequently originated type of loan was Conventional, with 83 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 41 | $3,665,000 | $89,390 | $0 | 0.00% |
| Refi | 28 | $3,330,000 | $118,929 | $0 | 0.00% |
| Home Purchase | 15 | $1,345,000 | $89,667 | $0 | 0.00% |
For 2020, Stark Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 41 originations. The 2nd most popular reason was Refi, with 28 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 84 | $8,340,000 | $99,286 | $0 | 0.00% |
For 2020, Stark Federal Credit Union's most frequently cited loan duration was Other, with 84 originations.
Loan Sizing
2020 saw Stark Federal Credit Union place emphasis on $100,000 or less loans with 52 originations, totaling $2,870,000 in origination value.
Applicant Income
Stark Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 29 originations. The second most popular income band? $50k or less, with 24 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 84 | $8,340,000 | $99,286 | $0 | 0.00% |
Stark Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 84 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 82 | $8,230,000 | $100,366 | $0 | 0.00% |
| American Indian | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Black | 1 | $55,000 | $55,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications90.40%
Stark Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination65.48%
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 | 84 | $8,340,000 | $99,286 |