Megastar Financial Corp. Mortgage Rates, Fees & Info

Denver, CO

LEI: 549300WKFR15017V9850

Tax ID: 84-1496821

3.7 stars - out of 5 stars, based on 43 reviews

Latest/2022 | 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 97 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 6.77% 5/27/23
30 Year Conventional Refi 6.59% 5/27/23
30 Year Cash-out Refi 6.89% 5/27/23
30 Year FHA Purchase 7.42% 5/27/23
30 Year FHA Refi 7.40% 5/27/23
30 Year VA Purchase 6.25% 5/27/23
30 Year VA Refi 6.27% 5/27/23
30 Year USDA Purchase 6.77% 5/27/23
15 Year Conventional Purchase 6.35% 5/27/23
15 Year Conventional Refi 6.14% 5/27/23
15 Year Cash-out Refi 6.14% 5/27/23
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

1,823

Origination Dollar Volume (All Markets)

$712,285,000

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 4.99%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.23%.

Relative Fees (Closing Costs)

Megastar Financial Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $7,121.

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) 611 $291,295,000 $476,751 $7,092 4.90%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 331 $110,145,000 $332,764 $6,830 5.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 170 $40,310,000 $237,118 $4,597 5.21%
FORT COLLINS, CO (FHA|USDA|VA) 72 $33,660,000 $467,500 $6,300 4.74%
GREELEY, CO (FHA|USDA|VA) 80 $30,340,000 $379,250 $7,913 5.00%
Breckenridge, CO (FHA|USDA|VA) 50 $24,840,000 $496,800 $5,799 4.77%
REDDING, CA (FHA|USDA|VA) 70 $19,980,000 $285,429 $7,593 4.94%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 33 $19,595,000 $593,788 $15,085 4.39%
Outside of Metro Areas 54 $16,310,000 $302,037 $6,581 4.65%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 41 $14,535,000 $354,512 $9,131 4.82%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 44 $14,480,000 $329,091 $6,860 4.93%
BOULDER, CO (FHA|USDA|VA) 20 $13,590,000 $679,500 $7,349 4.75%
MODESTO, CA (FHA|USDA|VA) 24 $8,480,000 $353,333 $9,273 4.80%
COLORADO SPRINGS, CO (FHA|USDA|VA) 20 $7,260,000 $363,000 $6,535 4.81%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 20 $5,250,000 $262,500 $7,554 4.95%
Edwards, CO (FHA|USDA|VA) 9 $4,845,000 $538,333 $8,005 5.26%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 11 $3,985,000 $362,273 $6,061 4.89%
Steamboat Springs, CO (FHA|USDA|VA) 6 $3,420,000 $570,000 $5,518 4.19%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 5 $3,365,000 $673,000 $9,636 4.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 6 $2,400,000 $400,000 $6,752 4.08%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $2,120,000 $530,000 $8,862 4.72%
Bozeman, MT (FHA|USDA|VA) 3 $1,605,000 $535,000 $8,193 3.96%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $1,465,000 $488,333 $7,093 4.58%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $1,435,000 $1,435,000 $5,026 4.63%
TUCSON, AZ (FHA|USDA|VA) 3 $1,355,000 $451,667 $5,531 3.75%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,305,000 $1,305,000 $23,594 4.88%
Douglas, GA (FHA|USDA|VA) 7 $1,245,000 $177,857 $6,506 5.43%
Glenwood Springs, CO (FHA|USDA|VA) 2 $1,210,000 $605,000 $10,857 6.00%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 6 $1,200,000 $200,000 $3,591 5.06%
Red Bluff, CA (FHA|USDA|VA) 4 $1,190,000 $297,500 $8,313 5.50%
Sonora, CA (FHA|USDA|VA) 3 $1,185,000 $395,000 $6,921 5.00%
GRAND JUNCTION, CO (FHA|USDA|VA) 3 $1,145,000 $381,667 $6,322 5.08%
Cañon City, CO (FHA|USDA|VA) 4 $1,040,000 $260,000 $9,119 5.72%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $950,000 $475,000 $14,389 4.75%
Augusta-Waterville, ME (FHA|USDA|VA) 3 $945,000 $315,000 $8,780 4.21%
Brainerd, MN (FHA|USDA|VA) 2 $920,000 $460,000 $8,615 5.19%
CHICO, CA (FHA|USDA|VA) 3 $905,000 $301,667 $7,977 5.25%
Grand Rapids, MN (FHA|USDA|VA) 3 $865,000 $288,333 $7,551 6.17%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $840,000 $420,000 $8,598 4.25%
Laramie, WY (FHA|USDA|VA) 2 $830,000 $415,000 $6,271 4.06%
GREEN BAY, WI (FHA|USDA|VA) 5 $735,000 $147,000 $6,405 5.75%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $710,000 $355,000 $6,226 5.44%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $705,000 $705,000 $3,479 4.88%
DULUTH, MN-WI (FHA|USDA|VA) 4 $660,000 $165,000 $6,740 5.22%
PROVO-OREM, UT (FHA|USDA|VA) 1 $645,000 $645,000 $6,214 5.38%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $625,000 $625,000 $3,706 7.00%
WICHITA, KS (FHA|USDA|VA) 2 $610,000 $305,000 $8,019 4.81%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $590,000 $295,000 $7,007 3.88%
PUEBLO, CO (FHA|USDA|VA) 2 $570,000 $285,000 $2,329 5.56%
Sterling, CO (FHA|USDA|VA) 2 $530,000 $265,000 $10,552 4.69%
CHEYENNE, WY (FHA|USDA|VA) 3 $505,000 $168,333 $4,677 4.71%
ALBUQUERQUE, NM (FHA|USDA|VA) 2 $490,000 $245,000 $4,486 5.06%
LAWRENCE, KS (FHA|USDA|VA) 2 $470,000 $235,000 $2,730 4.69%
Susanville, CA (FHA|USDA|VA) 3 $465,000 $155,000 $7,212 3.88%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $455,000 $455,000 $6,734 5.50%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $445,000 $445,000 $7,507 7.63%
Warrensburg, MO (FHA|USDA|VA) 2 $440,000 $220,000 $2,731 5.25%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $435,000 $435,000 $6,768 3.75%
WARNER ROBINS, GA (FHA|USDA|VA) 2 $430,000 $215,000 $6,978 5.63%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $425,000 $425,000 $19,714 4.13%
Bemidji, MN (FHA|USDA|VA) 2 $410,000 $205,000 $4,218 5.13%
APPLETON, WI (FHA|USDA|VA) 3 $405,000 $135,000 $5,169 4.54%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $400,000 $200,000 $4,273 4.13%
Durango, CO (FHA|USDA|VA) 1 $395,000 $395,000 $3,644 5.75%
YUBA CITY, CA (FHA|USDA|VA) 1 $365,000 $365,000 $18,897 6.25%
ST. CLOUD, MN (FHA|USDA|VA) 2 $360,000 $180,000 $6,810 3.38%
Ukiah, CA (FHA|USDA|VA) 1 $355,000 $355,000 $11,615 6.13%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $325,000 $325,000 $4,231 6.88%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $325,000 $325,000 $9,952 3.50%
Show Low, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $13,922 3.88%
Alexandria, MN (FHA|USDA|VA) 2 $300,000 $150,000 $5,013 4.38%
LONGVIEW, TX (FHA|USDA|VA) 2 $300,000 $150,000 $6,029 4.63%
Vernal, UT (FHA|USDA|VA) 1 $295,000 $295,000 $9,833 3.75%
Hutchinson, MN (FHA|USDA|VA) 1 $285,000 $285,000 $4,710 5.63%
ROCHESTER, MN (FHA|USDA|VA) 1 $285,000 $285,000 $4,420 5.50%
WENATCHEE, WA (FHA|USDA|VA) 1 $285,000 $285,000 $7,666 7.25%
FARMINGTON, NM (FHA|USDA|VA) 1 $275,000 $275,000 $4,111 3.88%
Red Wing, MN (FHA|USDA|VA) 2 $270,000 $135,000 $4,613 5.69%
KNOXVILLE, TN (FHA|USDA|VA) 1 $255,000 $255,000 $3,327 3.75%
Fort Morgan, CO (FHA|USDA|VA) 1 $255,000 $255,000 $9,754 4.38%
West Plains, MO (FHA|USDA|VA) 1 $245,000 $245,000 $3,540 3.38%
Albert Lea, MN (FHA|USDA|VA) 1 $245,000 $245,000 $4,787 3.63%
MERCED, CA (FHA|USDA|VA) 1 $235,000 $235,000 $10,791 4.13%
OCALA, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,790 6.13%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $205,000 $205,000 $5,009 3.88%
Craig, CO (FHA|USDA|VA) 1 $195,000 $195,000 $7,020 3.00%
BANGOR, ME (FHA|USDA|VA) 1 $195,000 $195,000 $4,444 4.75%
Taos, NM (FHA|USDA|VA) 1 $195,000 $195,000 $5,219 3.38%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $195,000 $195,000 $7,809 3.88%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $185,000 $185,000 $7,709 6.00%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $175,000 $175,000 $3,795 5.88%
STOCKTON, CA (FHA|USDA|VA) 1 $175,000 $175,000 $6,557 6.13%
Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $155,000 $155,000 $7,106 7.00%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $125,000 $125,000 $6,273 6.38%
Norfolk, NE (FHA|USDA|VA) 1 $115,000 $115,000 $4,182 4.50%
Atchison, KS (FHA|USDA|VA) 1 $115,000 $115,000 $4,605 6.13%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $75,000 $75,000 $3,831 5.00%
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)
  • California (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,520 $612,720,000 $403,105 $6,150 4.96%
    FHA 220 $70,770,000 $321,682 $11,800 4.87%
    VA 73 $26,925,000 $368,836 $10,167 4.41%
    USDA 10 $1,870,000 $187,000 $6,934 4.39%

    For 2022, Megastar Financial Corp.'s most frequently originated type of loan was Conventional, with 1,520 originations. Their 2nd most popular type was FHA, with 220 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,427 $578,575,000 $405,448 $7,338 5.12%
    Cash Out Refi 271 $88,275,000 $325,738 $5,903 4.38%
    Refi 125 $45,435,000 $363,480 $5,301 3.93%

    For 2022, Megastar Financial Corp.'s most frequently cited loan purpose was Home Purchase, with 1,427 originations. The 2nd most popular reason was Cash Out Refi, with 271 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,739 $685,965,000 $394,459 $7,121 4.99%
    15 Year 53 $17,015,000 $321,038 $4,272 3.45%
    20 Year 21 $6,945,000 $330,714 $3,981 3.72%
    10 Year 6 $1,190,000 $198,333 $3,299 3.25%
    Other 4 $1,170,000 $292,500 $4,926 4.31%

    For 2022, Megastar Financial Corp.'s most frequently cited loan duration was 30 Year, with 1,739 originations. The 2nd most popular length was 15 Year, with 53 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 884 $282,890,000 $320,011
    $<1k 853 $401,005,000 $470,111
    $4k-5k 30 $10,170,000 $339,000
    $5k+ 29 $11,995,000 $413,621
    $3k-4k 13 $3,135,000 $241,154
    $2k-3k 8 $1,350,000 $168,750

    Megastar Financial Corp.'s average total fees were $7,121, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 884 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 568 $220,320,000 $387,887
    3-4% 448 $171,660,000 $383,170
    4-5% 445 $189,445,000 $425,719
    6-7% 242 $84,400,000 $348,760
    7-8% 60 $23,510,000 $391,833
    2.5-3% 51 $19,585,000 $384,020
    <2.5% 8 $3,160,000 $395,000
    Over 8% 1 $205,000 $205,000

    During 2022, Megastar Financial Corp.'s average interest rate for loans was 4.99%, while their most frequently originated rate bucket for loans was 5-6%, with 568 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 787 $236,155,000 $300,070 $6,594 4.99%
    $400k-600k 498 $241,820,000 $485,582 $8,019 4.98%
    $100k-200k 253 $39,775,000 $157,213 $4,743 4.81%
    $600k-1MM 229 $159,055,000 $694,563 $8,657 4.71%
    $100,000 or less 33 $2,485,000 $75,303 $3,353 4.83%
    $1MM+ 23 $32,995,000 $1,434,565 $11,057 4.79%

    2022 saw Megastar Financial Corp. place emphasis on $200k-400k loans with 787 originations, totaling $236,155,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 475 $186,825,000 $393,316 $7,147 5.03%
    $150k-250k 405 $204,395,000 $504,679 $7,558 4.95%
    $50k-75k 327 $81,635,000 $249,648 $6,008 4.81%
    $75k-100k 302 $102,480,000 $339,338 $7,379 5.02%
    $250k+ 171 $112,395,000 $657,281 $7,939 4.91%
    $50k or less 143 $24,555,000 $171,713 $5,059 4.56%

    Megastar Financial Corp. lent most frequently to those with incomes in the $100k-150k range, with 475 originations. The second most popular income band? $150k-250k, with 405 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 299 $119,785,000 $400,619 $6,313 4.67%
    30-36% 285 $115,415,000 $404,965 $6,652 5.02%
    44% 114 $44,530,000 $390,614 $6,488 4.95%
    49% 93 $37,215,000 $400,161 $8,853 5.22%
    42% 81 $32,765,000 $404,506 $6,988 5.14%
    38% 81 $32,695,000 $403,642 $6,867 4.86%
    <20% 80 $28,780,000 $359,750 $5,893 4.58%
    37% 77 $31,095,000 $403,831 $7,091 4.77%
    43% 75 $26,675,000 $355,667 $7,182 4.78%
    45% 75 $26,715,000 $356,200 $6,239 5.14%
    47% 74 $27,300,000 $368,919 $7,718 5.35%
    41% 74 $33,120,000 $447,568 $7,300 5.01%
    48% 74 $25,920,000 $350,270 $7,005 5.00%
    40% 72 $26,120,000 $362,778 $6,847 5.21%
    39% 72 $28,740,000 $399,167 $6,306 5.02%
    50-60% 70 $24,970,000 $356,714 $10,764 4.60%
    36% 63 $27,225,000 $432,143 $7,719 4.66%
    46% 62 $22,430,000 $361,774 $6,567 5.06%
    >60% 2 $790,000 $395,000 $8,648 4.81%

    Megastar Financial Corp. lent most frequently to those with DTI ratios of 20-30%, with 299 originations. The next most common DTI ratio? 30-36%, with 285 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,556 $609,620,000 $391,787 $6,807 4.93%
    Not provided 146 $58,440,000 $400,274 $8,560 4.88%
    Asian 47 $21,415,000 $455,638 $7,566 4.69%
    Black 61 $17,915,000 $293,689 $7,202 4.90%
    American Indian 10 $3,640,000 $364,000 $6,251 5.14%
    Native Hawaiian or Islander 3 $1,255,000 $418,333 $11,438 6.38%

    Approval Rates

    Total approvals of all applications
    99.27%

    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
    69.01%

    Megastar Financial Corp. 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
    NA 1,823 $712,285,000 $390,721

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,823 $712,285,000 $390,721

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 101 $26,805,000 $265,396 $4,672 4.39%
    40-60% 205 $68,035,000 $331,878 $5,499 4.74%
    60-80% 568 $241,590,000 $425,335 $6,847 4.94%
    80-100% 940 $373,490,000 $397,330 $7,669 5.02%
    Over 100% 3 $1,195,000 $398,333 $7,514 5.04%
    Under 20% 6 $1,170,000 $195,000 $2,495 4.10%