Megastar Financial Corp. Mortgage Rates, Fees & Info
Denver, COLEI: 549300WKFR15017V9850
Tax ID: 84-1496821
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.77% | 4/26/24 |
| 30 Year Conventional Refi | 6.59% | 4/26/24 |
| 30 Year Cash-out Refi | 6.89% | 4/26/24 |
| 30 Year FHA Purchase | 7.42% | 4/26/24 |
| 30 Year FHA Refi | 7.40% | 4/26/24 |
| 30 Year VA Purchase | 6.25% | 4/26/24 |
| 30 Year VA Refi | 6.27% | 4/26/24 |
| 30 Year USDA Purchase | 6.77% | 4/26/24 |
| 15 Year Conventional Purchase | 6.35% | 4/26/24 |
| 15 Year Conventional Refi | 6.14% | 4/26/24 |
| 15 Year Cash-out Refi | 6.14% | 4/26/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,111Origination Dollar Volume (All Markets)
$437,465,000Awards
MEGASTAR FINANCIAL CORP. - 2023
MEGASTAR FINANCIAL CORP. is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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
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
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
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
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
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
2023 saw Megastar Financial Corp. place emphasis on $200k-400k loans with 480 originations, totaling $143,420,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications98.50%
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 origination78.67%
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 |