Megastar Financial Corp. Mortgage Rates, Fees & Info
Denver, COLEI: 549300WKFR15017V9850
Tax ID: 84-1496821
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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 include Denver, Minneapolis, Fort Collins, Breckenridge, and Kansas City among others. Megastar Financial Corp. has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Megastar Financial Corp. is typically an average fee lendor.Originations
4,958Origination Dollar Volume (All Markets)
$1,726,710,000Awards
MEGASTAR FINANCIAL CORP. - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Megastar Financial Corp.'s average 30 year fixed rate mortgage of loans were
3.09%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.06%.
Relative Fees
Megastar Financial Corp.'s average total fees for a 30 year fixed rate
mortgage are $4,836.
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 |
|---|---|---|---|---|---|
| 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.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average 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 the 2021 period, Megastar Financial Corp.'s most frequently originated loan type of loans were Conventional, with 4,310 originations. Their 2nd most popular type is FHA, with 383 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average 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 the 2021, Megastar Financial Corp.'s most frequently cited loan purpose of loans were Home Purchase, with 2,303 originations. The 2nd most popular reason of loans were 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 the 2021, Megastar Financial Corp.'s most frequently cited loan length of loans were 30 Year, with 4,314 originations. The 2nd most popular length of loans were 15 Year, with 360 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2,591 | $1,022,345,000 | $394,575 |
| $1k-2k | 2,261 | $669,435,000 | $296,079 |
| $3k-4k | 60 | $20,350,000 | $339,167 |
| $5k+ | 32 | $11,620,000 | $363,125 |
| $2k-3k | 14 | $2,960,000 | $211,429 |
$4,836 of loans were Megastar Financial Corp.'s average total fees, while their most frequently occuring range of origination fees 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 of loans were 3.09%, while their most frequently originated rate bucket of loans were 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 | 6 | $1,840,000 | $306,667 | $3,944 | 3.25% |
Approval Rates
Total approvals of all applications98.57%
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 origination82.54%
Megastar Financial Corp. has a below 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% |
