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, Breckenridge, and Fort Collins among others. We have data for 86 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.77% | 5/5/24 |
| 30 Year Conventional Refi | 6.59% | 5/5/24 |
| 30 Year Cash-out Refi | 6.89% | 5/5/24 |
| 30 Year FHA Purchase | 7.42% | 5/5/24 |
| 30 Year FHA Refi | 7.40% | 5/5/24 |
| 30 Year VA Purchase | 6.25% | 5/5/24 |
| 30 Year VA Refi | 6.27% | 5/5/24 |
| 30 Year USDA Purchase | 6.77% | 5/5/24 |
| 15 Year Conventional Purchase | 6.35% | 5/5/24 |
| 15 Year Conventional Refi | 6.14% | 5/5/24 |
| 15 Year Cash-out Refi | 6.14% | 5/5/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,908Origination Dollar Volume (All Markets)
$880,740,000Awards
MEGASTAR FINANCIAL CORP. - 2018
MEGASTAR FINANCIAL CORP. is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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) | 1,271 | $445,095,000 | $350,193 | $4,851 | 4.86% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 319 | $80,555,000 | $252,524 | $4,442 | 4.77% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 284 | $49,730,000 | $175,106 | $4,405 | 4.85% |
| Breckenridge, CO (FHA|USDA|VA) | 111 | $43,725,000 | $393,919 | $3,880 | 4.67% |
| FORT COLLINS, CO (FHA|USDA|VA) | 110 | $34,460,000 | $313,273 | $4,226 | 4.81% |
| GREELEY, CO (FHA|USDA|VA) | 111 | $33,715,000 | $303,739 | $6,210 | 4.89% |
| REDDING, CA (FHA|USDA|VA) | 106 | $24,660,000 | $232,642 | $6,548 | 4.97% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 40 | $19,970,000 | $499,250 | $8,012 | 4.53% |
| MODESTO, CA (FHA|USDA|VA) | 63 | $18,385,000 | $291,825 | $6,997 | 5.06% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 78 | $16,950,000 | $217,308 | $5,788 | 4.87% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 63 | $16,265,000 | $258,175 | $5,431 | 5.07% |
| BOULDER, CO (FHA|USDA|VA) | 37 | $14,515,000 | $392,297 | $4,130 | 4.86% |
| Outside of Metro Areas | 61 | $14,275,000 | $234,016 | $3,788 | 4.89% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 48 | $14,070,000 | $293,125 | $5,802 | 4.89% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 24 | $6,100,000 | $254,167 | $4,170 | 4.86% |
| Edwards, CO (FHA|USDA|VA) | 13 | $4,965,000 | $381,923 | $4,186 | 4.93% |
| Sonora, CA (FHA|USDA|VA) | 18 | $4,180,000 | $232,222 | $6,104 | 4.97% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 15 | $2,245,000 | $149,667 | $5,883 | 4.74% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $1,520,000 | $253,333 | $6,612 | 4.65% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $1,205,000 | $401,667 | $6,082 | 4.29% |
| Glenwood Springs, CO (FHA|USDA|VA) | 3 | $1,185,000 | $395,000 | $3,189 | 4.96% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $1,185,000 | $395,000 | $4,174 | 5.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $5,730 | 5.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $1,100,000 | $550,000 | $11,134 | 4.81% |
| Red Bluff, CA (FHA|USDA|VA) | 5 | $1,085,000 | $217,000 | $6,592 | 4.83% |
| Steamboat Springs, CO (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $3,358 | 4.63% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $4,348 | 4.88% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $6,612 | 4.88% |
| STOCKTON, CA (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $5,966 | 5.08% |
| TUCSON, AZ (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $2,569 | 4.91% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $3,753 | 4.88% |
| Fort Morgan, CO (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $6,280 | 4.83% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $5,362 | 4.88% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $6,909 | 5.38% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $4,096 | 4.38% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $5,942 | 5.04% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $4,509 | 4.75% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $6,219 | 4.81% |
| Brainerd, MN (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $3,331 | 4.94% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $7,173 | 5.06% |
| Ottawa, KS (FHA|USDA|VA) | 7 | $645,000 | $92,143 | $4,108 | 4.79% |
| PUEBLO, CO (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $3,923 | 4.58% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $5,531 | 5.08% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $3,228 | 4.56% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $3,503 | 4.71% |
| ROCHESTER, MN (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $4,926 | 4.88% |
| DULUTH, MN-WI (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $5,168 | 4.56% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 4 | $510,000 | $127,500 | $3,356 | 5.03% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $4,306 | 4.75% |
| Red Wing, MN (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $3,736 | 4.88% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $7,451 | 4.75% |
| Warrensburg, MO (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $4,555 | 4.50% |
| Sedalia, MO (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $2,465 | 4.29% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $5,659 | 4.88% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,688 | 4.50% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $6,664 | 5.06% |
| MISSOULA, MT (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,970 | 5.00% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $5,901 | 4.75% |
| Key West, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,224 | 5.13% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $6,423 | 4.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,548 | 5.00% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $9,389 | 4.63% |
| MERCED, CA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,426 | 5.19% |
| FARGO, ND-MN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,194 | 4.38% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,501 | 5.00% |
| Shelton, WA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,570 | 4.63% |
| MADISON, WI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,631 | 4.63% |
| Ukiah, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,295 | 5.38% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,043 | 4.63% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,042 | 4.00% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $9,739 | 4.13% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,597 | 4.13% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,237 | 4.75% |
| Menomonie, WI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,905 | 4.63% |
| Cañon City, CO (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $2,931 | 4.50% |
| Durango, CO (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,804 | 4.63% |
| LAWRENCE, KS (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,250 | 5.00% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,089 | 4.25% |
| MANKATO, MN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,474 | 4.13% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,342 | 5.38% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,907 | 5.50% |
| BANGOR, ME (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,606 | 4.25% |
| Marshall, MO (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,583 | 5.13% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,848 | 5.25% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $7,033 | 4.25% |
| Sterling, CO (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,137 | 4.75% |
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Product Mix
For 2018, Megastar Financial Corp.'s most frequently originated type of loan was Conventional, with 2,188 originations. Their 2nd most popular type was FHA, with 505 originations.
Loan Reason
For 2018, Megastar Financial Corp.'s most frequently cited loan purpose was Home Purchase, with 2,256 originations. The 2nd most popular reason was Cash Out Refi, with 477 originations.
Loan Duration/Length
For 2018, Megastar Financial Corp.'s most frequently cited loan duration was 30 Year, with 2,722 originations. The 2nd most popular length was 15 Year, with 90 originations.
Origination Fees/Closing Costs
Megastar Financial Corp.'s average total fees were $5,008, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,548 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 1,897 | $603,595,000 | $318,184 |
| 5-6% | 874 | $236,020,000 | $270,046 |
| 3-4% | 121 | $37,375,000 | $308,884 |
| 6-7% | 16 | $3,750,000 | $234,375 |
During 2018, Megastar Financial Corp.'s average interest rate for loans was 4.87%, while their most frequently originated rate bucket for loans was 4-5%, with 1,897 originations.
Loan Sizing
2018 saw Megastar Financial Corp. place emphasis on $200k-400k loans with 1,634 originations, totaling $476,720,000 in origination value.
Applicant Income
Megastar Financial Corp. lent most frequently to those with incomes in the $50k-75k range, with 703 originations. The second most popular income band? $100k-150k, with 638 originations.
Applicant Debt to Income Ratio
Megastar Financial Corp. lent most frequently to those with DTI ratios of 20-30%, with 474 originations. The next most common DTI ratio? 30-36%, with 465 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.19%
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 origination81.57%
Megastar Financial Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,908 | $880,740,000 | $302,868 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 18 | $3,200,000 | $177,778 |
| Single Family (1-4 Units):Site-Built | 2,890 | $877,540,000 | $303,647 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEGASTAR FINANCIAL CORP | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |