Twinstar Mortgage Rates, Fees & Info

LACEY, WA

LEI: 549300UBGGLZLZEY0M18

Tax ID: 91-0440744

5 stars - out of 5 stars, based on 37 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Twinstar is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Twinstar has a high proportion of conventional loans. Their top markets include Olympia, Centralia, Seattle, Portland, and Aberdeen among others. Twinstar has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Twinstar is typically an average fee lendor.


Originations

1,355

Origination Dollar Volume (All Markets)

$234,245,000
Show all (6) awards

Relative Rate

Twinstar's average 30 year fixed rate mortgage of loans were 3.07%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.08%.

Relative Fees

Twinstar's average total fees for a 30 year fixed rate mortgage are $3,374.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 613 $109,185,000 $178,116 $3,019 3.18%
Centralia, WA (FHA|USDA|VA) 265 $45,225,000 $170,660 $3,136 3.23%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 109 $24,015,000 $220,321 $3,684 3.38%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 144 $23,480,000 $163,056 $3,264 3.44%
Aberdeen, WA (FHA|USDA|VA) 163 $21,805,000 $133,773 $3,246 3.29%
Shelton, WA (FHA|USDA|VA) 28 $4,870,000 $173,929 $3,495 3.25%
SALEM, OR (FHA|USDA|VA) 6 $1,080,000 $180,000 $3,393 3.67%
LONGVIEW, WA (FHA|USDA|VA) 6 $1,040,000 $173,333 $3,166 3.06%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 4 $910,000 $227,500 $3,513 3.03%
Outside of Metro Areas 3 $465,000 $155,000 $4,728 3.13%
Oak Harbor, WA (FHA|USDA|VA) 1 $375,000 $375,000 $3,694 3.13%
Ellensburg, WA (FHA|USDA|VA) 1 $355,000 $355,000 $1,755 2.75%
Port Angeles, WA (FHA|USDA|VA) 3 $335,000 $111,667 $3,465 2.88%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 3 $315,000 $105,000 $3,457 3.63%
BEND, OR (FHA|USDA|VA) 1 $225,000 $225,000 $4,104 2.50%
Moses Lake, WA (FHA|USDA|VA) 1 $185,000 $185,000 $4,709 2.88%
YAKIMA, WA (FHA|USDA|VA) 2 $180,000 $90,000 $2,698 2.88%
Coos Bay, OR (FHA|USDA|VA) 1 $155,000 $155,000 $2,449 3.13%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $45,000 $45,000 $0 3.25%

Twinstar's top markets include Olympia, Centralia, Seattle, Portland, and Aberdeen among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,355 $234,245,000 $172,875 $3,162 3.25%

For the 2021 period, Twinstar's most frequently originated loan type of loans were Conventional, with 1,355 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 415 $100,835,000 $242,976 $3,224 2.91%
Other 321 $26,675,000 $83,100 $4,632 3.77%
Refi 270 $53,430,000 $197,889 $2,881 2.79%
Home Improvement 240 $21,470,000 $89,458 $2,268 3.68%
Home Purchase 109 $31,835,000 $292,064 $3,770 3.18%

For the 2021, Twinstar's most frequently cited loan purpose of loans were Cash Out Refi, with 415 originations. The 2nd most popular reason of loans were Other, with 321 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
10 Year 595 $52,045,000 $87,471 $2,445 3.73%
30 Year 466 $122,730,000 $263,369 $3,374 3.07%
15 Year 190 $36,210,000 $190,579 $2,817 2.37%
20 Year 98 $21,580,000 $220,204 $2,985 2.86%
5 Year 3 $255,000 $85,000 $2,900 5.83%
Other 3 $1,425,000 $475,000 $1,293 2.56%

For the 2021, Twinstar's most frequently cited loan length of loans were 10 Year, with 595 originations. The 2nd most popular length of loans were 30 Year, with 466 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 383 $89,145,000 $232,755
$1k-2k 131 $22,725,000 $173,473
$2k-3k 119 $27,455,000 $230,714
$3k-4k 103 $32,185,000 $312,476
$5k+ 20 $8,050,000 $402,500

$3,374 of loans were Twinstar's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 383 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 616 $87,140,000 $141,461
2.5-3% 393 $95,055,000 $241,870
<2.5% 180 $34,630,000 $192,389
5-6% 152 $11,330,000 $74,539
4-5% 8 $2,130,000 $266,250

During 2021, Twinstar's average interest rate of loans were 3.07%, while their most frequently originated rate bucket of loans were 3-4%, with 616 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 442 $23,920,000 $54,118 $2,199 3.70%
$100k-200k 430 $62,220,000 $144,698 $2,571 3.09%
$200k-400k 413 $113,795,000 $275,533 $3,463 2.97%
$400k-600k 63 $28,975,000 $459,921 $4,695 3.02%
$600k-1MM 6 $4,130,000 $688,333 $2,906 3.22%
$1MM+ 1 $1,205,000 $1,205,000 $0 0.00%

2021 saw Twinstar place emphasis on $100,000 or less loans with 442 originations, totaling $23,920,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 343 $64,195,000 $187,157 $3,528 3.36%
$50k-75k 287 $44,995,000 $156,777 $2,852 3.10%
$75k-100k 283 $46,725,000 $165,106 $3,414 3.25%
$150k-250k 227 $42,945,000 $189,185 $3,578 3.38%
$50k or less 162 $20,820,000 $128,519 $2,423 3.00%
$250k+ 38 $7,930,000 $208,684 $4,397 3.73%

Twinstar lent most frequently to those with incomes in the $100k-150k range, with 343 originations. The second most popular income band? $50k-75k, with 287 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 339 $60,145,000 $177,419 $3,263 3.09%
30-36% 293 $50,765,000 $173,259 $3,031 3.32%
<20% 146 $21,830,000 $149,521 $2,705 2.98%
41% 61 $10,515,000 $172,377 $3,403 3.30%
42% 54 $10,000,000 $185,185 $3,368 3.36%
45% 54 $6,230,000 $115,370 $2,724 3.71%
44% 53 $7,795,000 $147,075 $3,591 3.54%
43% 50 $8,790,000 $175,800 $3,777 3.41%
40% 49 $9,425,000 $192,347 $3,296 3.26%
37% 47 $8,635,000 $183,723 $3,442 3.45%
39% 41 $7,235,000 $176,463 $3,056 3.30%
38% 39 $7,105,000 $182,179 $3,294 3.24%
36% 38 $5,880,000 $154,737 $3,016 3.53%
46% 23 $3,175,000 $138,043 $2,623 3.18%
48% 21 $4,565,000 $217,381 $3,242 3.12%
47% 19 $3,235,000 $170,263 $3,576 3.49%
49% 15 $3,465,000 $231,000 $3,099 2.96%
50-60% 5 $765,000 $153,000 $4,052 3.05%

Twinstar lent most frequently to those with DTI ratios of 20-30%, with 339 originations. The next most common DTI ratio? 30-36%, with 293 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,093 $182,195,000 $166,693 $3,149 3.26%
Not provided 174 $33,160,000 $190,575 $3,298 3.23%
Asian 31 $5,445,000 $175,645 $3,090 3.10%
American Indian 29 $5,215,000 $179,828 $3,047 3.30%
Not applicable 6 $4,280,000 $713,333 $0 3.62%
Black 11 $2,055,000 $186,818 $2,203 3.39%
Other Asian 3 $735,000 $245,000 $4,109 2.83%
Native Hawaiian 4 $470,000 $117,500 $2,344 3.56%
Korean 1 $245,000 $245,000 $4,766 2.88%
Filipino 1 $175,000 $175,000 $1,641 3.00%
Other Pacific Islander 1 $135,000 $135,000 $3,710 2.50%
Asian Indian 1 $135,000 $135,000 $3,650 2.00%

Approval Rates

Total approvals of all applications
79.38%

Twinstar has a below average approval rate.

Pick Rate

Approvals leading to origination
81.79%

Twinstar has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,355 $234,245,000 $172,875

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,355 $234,245,000 $172,875

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 328 $40,050,000 $122,104 $2,327 3.29%
40-60% 327 $68,645,000 $209,924 $2,814 2.87%
60-80% 269 $76,205,000 $283,290 $3,673 3.07%
80-100% 91 $28,355,000 $311,593 $4,206 3.11%
Under 20% 335 $17,315,000 $51,687 $1,854 3.77%