Megastar Financial Corp. Mortgage Rates, Fees & Info

Denver, CO

LEI: 549300WKFR15017V9850

Tax ID: 84-1496821

5 stars - Updated: 6/23/24 - out of 5 stars, based on 33 reviews

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

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Mortgage Data

Review & Overview

Megastar Financial Corp. is a smaller mortgage company specializing in Home Purchase 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, Kansas City, Fort Collins, and Greeley among others. We have data for 88 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 relatively high 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 6.77% 6/23/24
30 Year Conventional Refi 6.59% 6/23/24
30 Year Cash-out Refi 6.89% 6/23/24
30 Year FHA Purchase 7.42% 6/23/24
30 Year FHA Refi 7.40% 6/23/24
30 Year VA Purchase 6.25% 6/23/24
30 Year VA Refi 6.27% 6/23/24
30 Year USDA Purchase 6.77% 6/23/24
15 Year Conventional Purchase 6.35% 6/23/24
15 Year Conventional Refi 6.14% 6/23/24
15 Year Cash-out Refi 6.14% 6/23/24
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.

Megastar Financial Corp. Mortgage Calculator






Your Estimates

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

This is not an official calculator from Megastar Financial Corp.. 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

1,111

Origination Dollar Volume (All Markets)

$437,465,000

Awards

MEGASTAR FINANCIAL CORP. VA Loans bronze MEGASTAR FINANCIAL CORP. FHA Loans silver MEGASTAR FINANCIAL CORP. 30 Year Conventional Loans silver MEGASTAR FINANCIAL CORP. 30 Year Conventional Loans bronze
Show all (4) awards

Relative Rate

Megastar Financial Corp.'s average 30 year fixed mortgage rate was 6.72%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.24%.

Relative Fees (Closing Costs)

Megastar Financial Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $7,663.

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 $9,089.

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) 347 $177,345,000 $511,081 $7,964 6.72%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 206 $68,310,000 $331,602 $6,918 6.76%
KANSAS CITY, MO-KS (FHA|USDA|VA) 135 $35,105,000 $260,037 $5,873 6.93%
FORT COLLINS, CO (FHA|USDA|VA) 52 $22,380,000 $430,385 $6,704 6.78%
GREELEY, CO (FHA|USDA|VA) 47 $18,125,000 $385,638 $9,262 6.61%
Breckenridge, CO (FHA|USDA|VA) 26 $13,920,000 $535,385 $4,889 7.05%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 21 $11,695,000 $556,905 $14,946 6.24%
Outside of Metro Areas 45 $11,675,000 $259,444 $6,868 6.86%
REDDING, CA (FHA|USDA|VA) 43 $10,275,000 $238,953 $8,851 5.84%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 22 $7,760,000 $352,727 $8,153 6.96%
BOULDER, CO (FHA|USDA|VA) 10 $5,790,000 $579,000 $10,580 6.45%
COLORADO SPRINGS, CO (FHA|USDA|VA) 10 $4,360,000 $436,000 $10,191 6.33%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 11 $3,445,000 $313,182 $10,781 6.58%
Red Bluff, CA (FHA|USDA|VA) 9 $2,705,000 $300,556 $10,983 5.51%
DULUTH, MN-WI (FHA|USDA|VA) 5 $2,575,000 $515,000 $6,307 7.10%
Edwards, CO (FHA|USDA|VA) 3 $2,255,000 $751,667 $5,127 7.13%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 8 $2,060,000 $257,500 $8,989 6.83%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 4 $1,970,000 $492,500 $14,075 6.78%
Glenwood Springs, CO (FHA|USDA|VA) 3 $1,945,000 $648,333 $3,643 6.63%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $1,865,000 $621,667 $10,060 7.71%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $1,740,000 $435,000 $8,237 6.44%
GRAND JUNCTION, CO (FHA|USDA|VA) 5 $1,515,000 $303,000 $4,008 6.73%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $1,150,000 $575,000 $17,830 6.88%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $1,100,000 $550,000 $10,083 7.13%
Brainerd, MN (FHA|USDA|VA) 3 $1,085,000 $361,667 $11,087 7.29%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 3 $875,000 $291,667 $11,390 6.69%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $875,000 $291,667 $8,246 6.42%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $825,000 $825,000 $5,237 7.38%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $820,000 $410,000 $6,673 6.94%
ST. CLOUD, MN (FHA|USDA|VA) 2 $780,000 $390,000 $10,299 6.50%
WARNER ROBINS, GA (FHA|USDA|VA) 3 $695,000 $231,667 $5,682 7.21%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $660,000 $330,000 $10,240 6.31%
Fort Morgan, CO (FHA|USDA|VA) 2 $660,000 $330,000 $12,384 5.94%
CHEYENNE, WY (FHA|USDA|VA) 2 $660,000 $330,000 $9,149 6.81%
Augusta-Waterville, ME (FHA|USDA|VA) 3 $635,000 $211,667 $5,045 6.83%
EAU CLAIRE, WI (FHA|USDA|VA) 2 $630,000 $315,000 $5,878 6.69%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $610,000 $305,000 $4,186 7.13%
APPLETON, WI (FHA|USDA|VA) 2 $610,000 $305,000 $14,291 6.69%
Bozeman, MT (FHA|USDA|VA) 1 $595,000 $595,000 $10,637 6.38%
MODESTO, CA (FHA|USDA|VA) 1 $555,000 $555,000 $7,287 6.38%
Laconia, NH (FHA|USDA|VA) 1 $545,000 $545,000 $4,191 6.63%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $510,000 $255,000 $8,427 6.75%
Kalispell, MT (FHA|USDA|VA) 1 $505,000 $505,000 $20,666 7.38%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $495,000 $495,000 $3,450 7.75%
TUCSON, AZ (FHA|USDA|VA) 1 $475,000 $475,000 $8,292 6.88%
TOPEKA, KS (FHA|USDA|VA) 2 $460,000 $230,000 $3,710 7.19%
BANGOR, ME (FHA|USDA|VA) 3 $455,000 $151,667 $5,214 6.54%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $455,000 $455,000 $4,301 6.63%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $455,000 $455,000 $5,103 7.75%
Red Wing, MN (FHA|USDA|VA) 1 $435,000 $435,000 $13,831 6.88%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $425,000 $425,000 $4,141 6.75%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $405,000 $405,000 $12,374 7.00%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $405,000 $405,000 $12,101 7.00%
Steamboat Springs, CO (FHA|USDA|VA) 1 $405,000 $405,000 $5,438 7.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $385,000 $385,000 $12,612 7.13%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $385,000 $385,000 $10,186 5.88%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $380,000 $190,000 $5,570 6.19%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $375,000 $375,000 $4,259 7.63%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $365,000 $365,000 $10,521 6.50%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $345,000 $345,000 $9,055 6.63%
FARGO, ND-MN (FHA|USDA|VA) 2 $320,000 $160,000 $3,743 6.50%
GREEN BAY, WI (FHA|USDA|VA) 1 $315,000 $315,000 $6,077 7.75%
Key West, FL (FHA|USDA|VA) 1 $315,000 $315,000 $7,950 8.13%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $295,000 $295,000 $4,378 7.13%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $295,000 $295,000 $10,125 6.50%
Helena, MT (FHA|USDA|VA) 1 $295,000 $295,000 $4,417 7.63%
Faribault-Northfield, MN (FHA|USDA|VA) 1 $275,000 $275,000 $6,627 6.50%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $245,000 $245,000 $8,687 6.75%
Fitzgerald, GA (FHA|USDA|VA) 1 $245,000 $245,000 $9,586 6.63%
New Ulm, MN (FHA|USDA|VA) 1 $235,000 $235,000 $6,305 6.25%
Montrose, CO (FHA|USDA|VA) 1 $235,000 $235,000 $4,897 6.50%
ROCHESTER, MN (FHA|USDA|VA) 1 $235,000 $235,000 $3,349 7.00%
Ottawa, KS (FHA|USDA|VA) 1 $235,000 $235,000 $7,423 6.63%
CHICO, CA (FHA|USDA|VA) 1 $235,000 $235,000 $7,145 6.63%
Owatonna, MN (FHA|USDA|VA) 1 $225,000 $225,000 $5,608 6.50%
Cañon City, CO (FHA|USDA|VA) 1 $215,000 $215,000 $7,600 6.38%
VALDOSTA, GA (FHA|USDA|VA) 1 $215,000 $215,000 $7,929 6.63%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $205,000 $205,000 $5,382 6.88%
Warrensburg, MO (FHA|USDA|VA) 1 $195,000 $195,000 $2,806 6.63%
Douglas, GA (FHA|USDA|VA) 1 $185,000 $185,000 $6,514 7.63%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $175,000 $175,000 $6,292 6.75%
MANHATTAN, KS (FHA|USDA|VA) 1 $165,000 $165,000 $8,639 6.38%
WICHITA, KS (FHA|USDA|VA) 1 $155,000 $155,000 $3,407 6.88%
PUEBLO, CO (FHA|USDA|VA) 1 $155,000 $155,000 $3,581 7.63%
Austin, MN (FHA|USDA|VA) 1 $155,000 $155,000 $4,787 7.13%
CASPER, WY (FHA|USDA|VA) 1 $145,000 $145,000 $4,050 7.50%
Alexandria, MN (FHA|USDA|VA) 1 $115,000 $115,000 $1,807 7.13%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $85,000 $85,000 $5,305 6.50%
Megastar Financial Corp.'s top markets include Denver, Minneapolis, Kansas City, Fort Collins, and Greeley among others.

Their top states include:
  • Colorado (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • California (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 863 $355,215,000 $411,605 $6,512 6.77%
    FHA 190 $61,600,000 $324,211 $12,273 6.61%
    VA 54 $19,760,000 $365,926 $9,214 6.46%
    USDA 4 $890,000 $222,500 $7,815 5.77%

    For 2023, Megastar Financial Corp.'s most frequently originated type of loan was Conventional, with 863 originations. Their 2nd most popular type was FHA, with 190 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,028 $408,140,000 $397,023 $7,606 6.71%
    Cash Out Refi 56 $15,630,000 $279,107 $7,534 6.91%
    Refi 27 $13,695,000 $507,222 $8,933 6.68%

    For 2023, Megastar Financial Corp.'s most frequently cited loan purpose was Home Purchase, with 1,028 originations. The 2nd most popular reason was Cash Out Refi, with 56 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,093 $429,905,000 $393,326 $7,663 6.72%
    15 Year 8 $3,430,000 $428,750 $5,353 6.14%
    10 Year 6 $1,280,000 $213,333 $4,091 8.23%
    20 Year 4 $2,850,000 $712,500 $8,029 6.69%

    For 2023, Megastar Financial Corp.'s most frequently cited loan duration was 30 Year, with 1,093 originations. The 2nd most popular length was 15 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 560 $186,120,000 $332,357
    $<1k 480 $229,430,000 $477,979
    $5k+ 24 $10,110,000 $421,250
    $3k-4k 18 $3,910,000 $217,222
    $4k-5k 17 $6,195,000 $364,412
    $2k-3k 10 $1,680,000 $168,000

    Megastar Financial Corp.'s average total fees were $7,663, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 560 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 611 $244,065,000 $399,452
    7-8% 339 $130,955,000 $386,298
    5-6% 128 $54,080,000 $422,500
    Over 8% 17 $6,015,000 $353,824
    <2.5% 9 $95,000 $10,556
    4-5% 7 $2,255,000 $322,143

    During 2023, Megastar Financial Corp.'s average interest rate for loans was 6.72%, while their most frequently originated rate bucket for loans was 6-7%, with 611 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 480 $143,420,000 $298,792 $7,496 6.81%
    $400k-600k 317 $154,825,000 $488,407 $8,719 6.72%
    $100k-200k 140 $22,010,000 $157,214 $5,007 6.74%
    $600k-1MM 132 $92,910,000 $703,864 $8,678 6.76%
    $100,000 or less 25 $1,235,000 $49,400 $2,138 4.88%
    $1MM+ 17 $23,065,000 $1,356,765 $12,353 6.64%

    2023 saw Megastar Financial Corp. place emphasis on $200k-400k loans with 480 originations, totaling $143,420,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 308 $119,380,000 $387,597 $8,513 6.74%
    $150k-250k 221 $109,415,000 $495,090 $7,928 6.84%
    $75k-100k 184 $56,770,000 $308,533 $7,554 6.52%
    $50k-75k 183 $41,855,000 $228,716 $6,398 6.59%
    $250k+ 157 $101,235,000 $644,809 $8,099 6.95%
    $50k or less 58 $8,810,000 $151,897 $4,721 6.62%

    Megastar Financial Corp. lent most frequently to those with incomes in the $100k-150k range, with 308 originations. The second most popular income band? $150k-250k, with 221 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 172 $65,550,000 $381,105 $7,378 6.71%
    20-30% 132 $54,790,000 $415,076 $6,551 6.86%
    49% 87 $33,185,000 $381,437 $8,406 6.77%
    43% 73 $27,935,000 $382,671 $7,047 6.75%
    50-60% 72 $24,230,000 $336,528 $10,655 6.66%
    44% 58 $20,870,000 $359,828 $8,299 6.46%
    <20% 53 $15,895,000 $299,906 $5,308 6.02%
    39% 50 $21,650,000 $433,000 $7,127 6.81%
    45% 48 $20,040,000 $417,500 $8,149 6.68%
    42% 46 $22,370,000 $486,304 $7,002 6.79%
    41% 45 $18,055,000 $401,222 $8,810 6.86%
    40% 44 $20,660,000 $469,545 $7,269 6.76%
    37% 43 $18,705,000 $435,000 $7,156 6.66%
    47% 42 $15,580,000 $370,952 $7,407 6.96%
    46% 40 $16,720,000 $418,000 $8,840 6.79%
    36% 38 $13,730,000 $361,316 $7,558 6.71%
    48% 37 $14,435,000 $390,135 $7,644 6.84%
    38% 31 $13,065,000 $421,452 $7,906 6.98%

    Megastar Financial Corp. lent most frequently to those with DTI ratios of 30-36%, with 172 originations. The next most common DTI ratio? 20-30%, with 132 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 959 $382,365,000 $398,712 $7,514 6.73%
    Not provided 71 $26,495,000 $373,169 $8,221 6.84%
    Asian 33 $14,715,000 $445,909 $9,810 6.23%
    Black 37 $11,085,000 $299,595 $7,839 6.63%
    American Indian 8 $1,500,000 $187,500 $5,737 6.97%
    Native Hawaiian or Islander 3 $1,305,000 $435,000 $11,243 6.54%

    Approval Rates

    Total approvals of all applications
    98.50%

    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
    78.67%

    Megastar Financial Corp. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,111 $437,465,000 $393,758

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,111 $437,465,000 $393,758

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 39 $10,765,000 $276,026 $5,347 6.99%
    40-60% 108 $38,400,000 $355,556 $6,190 6.63%
    60-80% 294 $128,580,000 $437,347 $7,230 6.83%
    80-100% 652 $258,700,000 $396,779 $8,358 6.74%
    Under 20% 18 $1,020,000 $56,667 $950 4.23%