Megastar Financial Corp. Mortgage Rates, Fees & Info

Denver, CO

LEI: 549300WKFR15017V9850

Tax ID: 84-1496821

5 stars - out of 5 stars, based on 70 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Megastar Financial Corp. is a small mortgage company specializing in Home Purchase and Refi loans. Megastar Financial Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Denver, Minneapolis, Fort Collins, Breckenridge, and Kansas City among others. We have data for 122 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Megastar Financial Corp. 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. Megastar Financial Corp. is typically an average 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 6.84% 12/4/22
    30 Year Conventional Refi 6.81% 12/4/22
    30 Year Cash-out Refi 7.05% 12/4/22
    30 Year FHA Purchase 7.66% 12/4/22
    30 Year FHA Refi 7.20% 12/4/22
    30 Year VA Purchase 6.49% 12/4/22
    30 Year VA Refi 6.29% 12/4/22
    30 Year USDA Purchase 7.02% 12/4/22
    30 Year USDA Refi 6.72% 12/4/22
    15 Year Conventional Purchase 6.13% 12/4/22
    15 Year Conventional Refi 6.15% 12/4/22
    15 Year Cash-out Refi 6.15% 12/4/22
    15 Year VA Purchase 5.76% 12/4/22
    15 Year VA Refi 5.87% 12/4/22
    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.


    Originations

    4,958

    Origination Dollar Volume (All Markets)

    $1,726,710,000

    Awards

    MEGASTAR FINANCIAL CORP. 30 Year Conventional Loans bronze MEGASTAR FINANCIAL CORP. 30 Year Conventional Loans bronze MEGASTAR FINANCIAL CORP. FHA Loans silver
    Show all (3) awards

    Relative Rate

    Megastar Financial Corp.'s average 30 year fixed mortgage rate was 3.09%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.06%.

    Relative Fees (Closing Costs)

    Megastar Financial Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $4,836.

    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 $4,750.

    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
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1,890 $756,360,000 $400,190 $4,201 3.06%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 876 $262,230,000 $299,349 $4,539 2.98%
    FORT COLLINS, CO (FHA|USDA|VA) 265 $88,765,000 $334,962 $3,843 3.03%
    Breckenridge, CO (FHA|USDA|VA) 144 $72,440,000 $503,056 $4,065 2.99%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 308 $67,940,000 $220,584 $3,716 3.08%
    GREELEY, CO (FHA|USDA|VA) 179 $66,045,000 $368,966 $5,058 3.09%
    REDDING, CA (FHA|USDA|VA) 197 $53,045,000 $269,264 $6,648 3.07%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 89 $48,995,000 $550,506 $9,081 2.88%
    Outside of Metro Areas 162 $46,240,000 $285,432 $5,045 3.05%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 112 $35,670,000 $318,482 $6,192 3.17%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 122 $30,960,000 $253,770 $4,696 3.09%
    BOULDER, CO (FHA|USDA|VA) 49 $25,995,000 $530,510 $5,187 2.98%
    MODESTO, CA (FHA|USDA|VA) 75 $23,415,000 $312,200 $6,964 3.14%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 53 $18,355,000 $346,321 $4,710 2.98%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 45 $12,285,000 $273,000 $4,574 3.01%
    Sonora, CA (FHA|USDA|VA) 27 $7,465,000 $276,481 $5,962 3.23%
    Edwards, CO (FHA|USDA|VA) 18 $7,180,000 $398,889 $3,505 2.90%
    Red Bluff, CA (FHA|USDA|VA) 23 $5,855,000 $254,565 $7,177 2.96%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 10 $5,730,000 $573,000 $8,829 2.99%
    Steamboat Springs, CO (FHA|USDA|VA) 14 $5,330,000 $380,714 $4,395 3.04%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 22 $4,510,000 $205,000 $4,783 3.10%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 13 $4,485,000 $345,000 $5,627 3.08%
    DULUTH, MN-WI (FHA|USDA|VA) 16 $3,110,000 $194,375 $4,460 3.02%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 6 $3,050,000 $508,333 $6,410 3.21%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 8 $2,920,000 $365,000 $6,371 2.81%
    GRAND JUNCTION, CO (FHA|USDA|VA) 10 $2,830,000 $283,000 $3,125 2.78%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 8 $2,450,000 $306,250 $4,439 3.16%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 8 $2,200,000 $275,000 $4,159 2.94%
    TUCSON, AZ (FHA|USDA|VA) 6 $1,990,000 $331,667 $6,111 2.90%
    ST. CLOUD, MN (FHA|USDA|VA) 9 $1,895,000 $210,556 $5,252 3.22%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 6 $1,860,000 $310,000 $4,600 3.33%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $1,810,000 $452,500 $8,469 2.91%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 4 $1,650,000 $412,500 $8,467 2.72%
    Augusta-Waterville, ME (FHA|USDA|VA) 8 $1,600,000 $200,000 $4,790 3.41%
    Durango, CO (FHA|USDA|VA) 3 $1,595,000 $531,667 $3,199 2.83%
    Douglas, GA (FHA|USDA|VA) 9 $1,505,000 $167,222 $5,098 3.03%
    Red Wing, MN (FHA|USDA|VA) 5 $1,485,000 $297,000 $4,280 3.05%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $1,375,000 $458,333 $6,838 3.04%
    CHEYENNE, WY (FHA|USDA|VA) 5 $1,375,000 $275,000 $2,766 2.85%
    Faribault-Northfield, MN (FHA|USDA|VA) 4 $1,330,000 $332,500 $3,722 3.22%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $1,295,000 $431,667 $4,792 3.13%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $1,255,000 $418,333 $9,871 2.67%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 3 $1,245,000 $415,000 $4,576 3.33%
    STOCKTON, CA (FHA|USDA|VA) 4 $1,210,000 $302,500 $5,892 3.06%
    Bozeman, MT (FHA|USDA|VA) 3 $1,205,000 $401,667 $9,583 3.21%
    ST. JOSEPH, MO-KS (FHA|USDA|VA) 5 $1,195,000 $239,000 $5,214 3.15%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 4 $1,130,000 $282,500 $3,287 2.94%
    MANKATO, MN (FHA|USDA|VA) 4 $1,090,000 $272,500 $3,047 2.69%
    Brainerd, MN (FHA|USDA|VA) 4 $1,060,000 $265,000 $4,654 3.28%
    Montrose, CO (FHA|USDA|VA) 3 $955,000 $318,333 $3,580 3.21%
    MADISON, WI (FHA|USDA|VA) 2 $920,000 $460,000 $2,911 2.94%
    Fort Morgan, CO (FHA|USDA|VA) 3 $915,000 $305,000 $2,236 2.79%
    Glenwood Springs, CO (FHA|USDA|VA) 3 $885,000 $295,000 $3,461 3.13%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $825,000 $825,000 $9,299 4.13%
    FRESNO, CA (FHA|USDA|VA) 3 $805,000 $268,333 $4,317 3.21%
    BAKERSFIELD, CA (FHA|USDA|VA) 2 $800,000 $400,000 $5,003 2.88%
    PUEBLO, CO (FHA|USDA|VA) 3 $765,000 $255,000 $6,094 3.42%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $740,000 $370,000 $6,590 2.81%
    Cañon City, CO (FHA|USDA|VA) 2 $730,000 $365,000 $4,032 2.69%
    Show Low, AZ (FHA|USDA|VA) 2 $720,000 $360,000 $5,568 3.19%
    FLAGSTAFF, AZ (FHA|USDA|VA) 2 $710,000 $355,000 $7,873 2.56%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $705,000 $705,000 $12,105 3.00%
    SAVANNAH, GA (FHA|USDA|VA) 2 $680,000 $340,000 $10,114 2.88%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $680,000 $340,000 $4,153 3.50%
    Heber, UT (FHA|USDA|VA) 1 $665,000 $665,000 $5,157 2.88%
    MISSOULA, MT (FHA|USDA|VA) 2 $640,000 $320,000 $3,598 3.19%
    Sterling, CO (FHA|USDA|VA) 3 $605,000 $201,667 $7,507 3.04%
    MERCED, CA (FHA|USDA|VA) 2 $580,000 $290,000 $7,786 3.63%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $545,000 $545,000 $5,274 2.75%
    Laramie, WY (FHA|USDA|VA) 2 $520,000 $260,000 $2,793 3.13%
    Owatonna, MN (FHA|USDA|VA) 2 $510,000 $255,000 $4,626 2.75%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $500,000 $250,000 $7,136 2.50%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $500,000 $250,000 $4,669 3.50%
    FARGO, ND-MN (FHA|USDA|VA) 2 $500,000 $250,000 $3,399 3.31%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $485,000 $485,000 $10,165 3.13%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 3 $475,000 $158,333 $7,470 2.83%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $465,000 $465,000 $3,826 3.00%
    VALLEJO, CA (FHA|USDA|VA) 1 $445,000 $445,000 $3,685 3.00%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $440,000 $220,000 $5,140 2.75%
    LAWRENCE, KS (FHA|USDA|VA) 2 $440,000 $220,000 $4,752 3.63%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $425,000 $425,000 $8,592 3.75%
    SHEBOYGAN, WI (FHA|USDA|VA) 1 $405,000 $405,000 $1,890 2.88%
    Aberdeen, WA (FHA|USDA|VA) 2 $400,000 $200,000 $4,073 3.06%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $385,000 $385,000 $4,350 3.13%
    Whitewater, WI (FHA|USDA|VA) 2 $380,000 $190,000 $3,378 3.13%
    Alexandria, MN (FHA|USDA|VA) 2 $380,000 $190,000 $2,718 3.00%
    Hutchinson, MN (FHA|USDA|VA) 2 $360,000 $180,000 $2,929 3.19%
    BILLINGS, MT (FHA|USDA|VA) 1 $355,000 $355,000 $10,534 3.75%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $345,000 $345,000 $3,752 3.38%
    MADERA, CA (FHA|USDA|VA) 1 $345,000 $345,000 $3,534 3.38%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $335,000 $335,000 $3,351 2.88%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $330,000 $165,000 $4,035 2.88%
    Craig, CO (FHA|USDA|VA) 1 $325,000 $325,000 $11,321 3.13%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $325,000 $325,000 $3,535 3.25%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $315,000 $315,000 $7,571 3.50%
    Helena, MT (FHA|USDA|VA) 1 $305,000 $305,000 $4,117 3.13%
    Shelton, WA (FHA|USDA|VA) 1 $295,000 $295,000 $3,159 2.88%
    GAINESVILLE, GA (FHA|USDA|VA) 1 $295,000 $295,000 $2,770 2.88%
    Williston, ND (FHA|USDA|VA) 1 $285,000 $285,000 $3,092 3.25%
    Sedalia, MO (FHA|USDA|VA) 2 $270,000 $135,000 $2,239 2.94%
    Eureka-Arcata, CA (FHA|USDA|VA) 1 $265,000 $265,000 $5,532 3.38%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $265,000 $265,000 $7,932 2.50%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $255,000 $255,000 $3,884 2.88%
    Keene, NH (FHA|USDA|VA) 1 $235,000 $235,000 $3,697 3.63%
    SALINAS, CA (FHA|USDA|VA) 1 $225,000 $225,000 $6,878 3.38%
    Warrensburg, MO (FHA|USDA|VA) 1 $225,000 $225,000 $2,569 3.25%
    Menomonie, WI (FHA|USDA|VA) 1 $205,000 $205,000 $3,019 3.50%
    EL CENTRO, CA (FHA|USDA|VA) 1 $205,000 $205,000 $8,074 3.25%
    YAKIMA, WA (FHA|USDA|VA) 1 $185,000 $185,000 $2,116 2.63%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $175,000 $175,000 $6,924 3.00%
    Clearlake, CA (FHA|USDA|VA) 1 $175,000 $175,000 $5,341 3.50%
    Grand Rapids, MN (FHA|USDA|VA) 1 $165,000 $165,000 $6,308 2.75%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $5,004 2.63%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $155,000 $155,000 $4,389 2.38%
    Willmar, MN (FHA|USDA|VA) 1 $135,000 $135,000 $3,096 3.13%
    Laconia, NH (FHA|USDA|VA) 1 $115,000 $115,000 $3,946 3.25%
    Susanville, CA (FHA|USDA|VA) 1 $115,000 $115,000 $3,977 3.25%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $115,000 $115,000 $3,484 2.75%
    SPRINGFIELD, MO (FHA|USDA|VA) 1 $95,000 $95,000 $2,939 3.25%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $95,000 $95,000 $3,008 3.00%
    ROCHESTER, MN (FHA|USDA|VA) 1 $65,000 $65,000 $2,393 3.25%
    Ottawa, KS (FHA|USDA|VA) 1 $65,000 $65,000 $3,649 4.25%
    Megastar Financial Corp.'s top markets include Denver, Minneapolis, Fort Collins, Breckenridge, and Kansas City among others.

    Their top states include:
  • Colorado (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against MEGASTAR FINANCIAL CORP. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,310 $1,520,600,000 $352,807 $4,074 3.08%
    FHA 383 $115,455,000 $301,449 $9,722 2.93%
    VA 223 $81,195,000 $364,103 $6,801 2.61%
    USDA 42 $9,460,000 $225,238 $5,917 2.79%

    For 2021, Megastar Financial Corp.'s most frequently originated type of loan was Conventional, with 4,310 originations. Their 2nd most popular type was FHA, with 383 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,303 $902,545,000 $391,900 $5,464 3.06%
    Refi 1,838 $566,170,000 $308,036 $3,739 2.95%
    Cash Out Refi 817 $257,995,000 $315,783 $4,397 3.21%

    For 2021, Megastar Financial Corp.'s most frequently cited loan purpose was Home Purchase, with 2,303 originations. The 2nd most popular reason was Refi, with 1,838 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 4,314 $1,553,110,000 $360,016 $4,836 3.09%
    15 Year 360 $93,820,000 $260,611 $3,493 2.59%
    20 Year 209 $60,785,000 $290,837 $3,359 2.93%
    Other 44 $13,490,000 $306,591 $2,933 3.13%
    10 Year 31 $5,505,000 $177,581 $3,121 2.42%

    For 2021, Megastar Financial Corp.'s most frequently cited loan duration was 30 Year, with 4,314 originations. The 2nd most popular length was 15 Year, with 360 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,591 $1,022,345,000 $394,575
    $1k-2k 2,261 $669,435,000 $296,079
    $4k-5k 38 $14,630,000 $385,000
    $5k+ 32 $11,620,000 $363,125
    $3k-4k 22 $5,720,000 $260,000
    $2k-3k 14 $2,960,000 $211,429

    Megastar Financial Corp.'s average total fees were $4,836, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,591 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,242 $787,260,000 $351,142
    2.5-3% 2,217 $781,125,000 $352,334
    <2.5% 442 $142,060,000 $321,403
    4-5% 57 $16,265,000 $285,351

    During 2021, Megastar Financial Corp.'s average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 3-4%, with 2,242 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,594 $768,890,000 $296,411 $4,625 3.05%
    $400k-600k 1,245 $606,315,000 $487,000 $4,816 3.03%
    $100k-200k 790 $126,150,000 $159,684 $3,645 3.04%
    $600k-1MM 212 $156,440,000 $737,925 $7,511 3.07%
    $100,000 or less 68 $5,620,000 $82,647 $3,103 3.07%
    $1MM+ 49 $63,295,000 $1,291,735 $7,575 3.08%

    2021 saw Megastar Financial Corp. place emphasis on $200k-400k loans with 2,594 originations, totaling $768,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,243 $459,025,000 $369,288 $4,773 3.05%
    $50k-75k 1,080 $286,690,000 $265,454 $4,471 3.05%
    $75k-100k 932 $294,150,000 $315,612 $4,694 3.08%
    $150k-250k 857 $372,225,000 $434,335 $4,648 3.02%
    $50k or less 387 $72,335,000 $186,912 $4,262 3.04%
    $250k+ 385 $218,885,000 $568,532 $5,095 3.06%

    Megastar Financial Corp. lent most frequently to those with incomes in the $100k-150k range, with 1,243 originations. The second most popular income band? $50k-75k, with 1,080 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,149 $408,085,000 $355,165 $4,292 3.03%
    30-36% 918 $324,510,000 $353,497 $4,426 3.06%
    <20% 481 $157,895,000 $328,264 $3,912 2.88%
    43% 189 $65,285,000 $345,423 $5,059 3.10%
    44% 186 $61,930,000 $332,957 $5,006 3.12%
    42% 181 $66,785,000 $368,978 $4,565 3.08%
    39% 179 $64,185,000 $358,575 $4,695 3.10%
    36% 177 $63,225,000 $357,203 $4,700 3.11%
    37% 174 $59,680,000 $342,989 $4,602 3.08%
    40% 170 $63,830,000 $375,471 $5,237 3.06%
    38% 167 $57,915,000 $346,796 $4,602 3.04%
    49% 165 $57,705,000 $349,727 $4,993 3.08%
    41% 162 $55,370,000 $341,790 $4,869 3.07%
    46% 151 $48,715,000 $322,616 $5,261 3.08%
    45% 136 $47,050,000 $345,956 $5,028 3.09%
    48% 124 $41,490,000 $334,597 $4,996 3.10%
    47% 120 $39,190,000 $326,583 $4,599 3.09%
    50-60% 113 $38,165,000 $337,743 $8,898 2.86%
    >60% 16 $5,700,000 $356,250 $3,668 2.94%

    Megastar Financial Corp. lent most frequently to those with DTI ratios of 20-30%, with 1,149 originations. The next most common DTI ratio? 30-36%, with 918 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,260 $1,473,300,000 $345,845 $4,558 3.04%
    Not provided 413 $153,765,000 $372,312 $4,996 3.06%
    Asian 126 $50,270,000 $398,968 $5,002 3.05%
    Black 121 $37,775,000 $312,190 $6,088 3.04%
    American Indian 32 $9,760,000 $305,000 $5,534 3.16%
    Native Hawaiian or Islander 6 $1,840,000 $306,667 $3,944 3.25%

    Approval Rates

    Total approvals of all applications
    99.20%

    Megastar Financial Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    87.54%

    Megastar Financial Corp. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,958 $1,726,710,000 $348,267

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,958 $1,726,710,000 $348,267

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 288 $61,880,000 $214,861 $3,332 2.85%
    40-60% 961 $295,525,000 $307,518 $3,702 2.96%
    60-80% 1,803 $665,915,000 $369,337 $4,284 3.14%
    80-100% 1,875 $698,305,000 $372,429 $5,703 3.03%
    Over 100% 7 $1,905,000 $272,143 $6,006 2.82%
    Under 20% 24 $3,180,000 $132,500 $2,980 2.83%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    MEGASTAR FINANCIAL CORP Conventional home mortgage Closing on a mortgage 1 14.3%
    MEGASTAR FINANCIAL CORP Conventional home mortgage Trouble during payment process 2 28.6%
    MEGASTAR FINANCIAL CORP FHA mortgage Closing on a mortgage 1 14.3%
    MEGASTAR FINANCIAL CORP FHA mortgage Struggling to pay mortgage 2 28.6%
    MEGASTAR FINANCIAL CORP VA mortgage Trouble during payment process 1 14.3%