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 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 by origination volume include: Denver, Minneapolis, Kansas City, Breckenridge, and Fort Collins among others. We have data for 99 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 a low 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% | 4/18/24 |
| 30 Year Conventional Refi | 6.59% | 4/18/24 |
| 30 Year Cash-out Refi | 6.89% | 4/18/24 |
| 30 Year FHA Purchase | 7.42% | 4/18/24 |
| 30 Year FHA Refi | 7.40% | 4/18/24 |
| 30 Year VA Purchase | 6.25% | 4/18/24 |
| 30 Year VA Refi | 6.27% | 4/18/24 |
| 30 Year USDA Purchase | 6.77% | 4/18/24 |
| 15 Year Conventional Purchase | 6.35% | 4/18/24 |
| 15 Year Conventional Refi | 6.14% | 4/18/24 |
| 15 Year Cash-out Refi | 6.14% | 4/18/24 |
| 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
3,893Origination Dollar Volume (All Markets)
$1,235,345,000Awards
MEGASTAR FINANCIAL CORP. - 2019
MEGASTAR FINANCIAL CORP. is a 2019 , due to their low .
For 2019, 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) | 1,472 | $559,120,000 | $379,837 | $4,086 | 4.22% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 521 | $147,455,000 | $283,023 | $4,613 | 4.03% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 329 | $61,075,000 | $185,638 | $4,322 | 4.29% |
| Breckenridge, CO (FHA|USDA|VA) | 153 | $60,505,000 | $395,458 | $3,366 | 4.10% |
| FORT COLLINS, CO (FHA|USDA|VA) | 165 | $54,675,000 | $331,364 | $3,443 | 4.10% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 93 | $42,005,000 | $451,667 | $9,283 | 3.76% |
| GREELEY, CO (FHA|USDA|VA) | 129 | $40,155,000 | $311,279 | $5,295 | 4.26% |
| Outside of Metro Areas | 205 | $35,425,000 | $172,805 | $4,025 | 3.55% |
| REDDING, CA (FHA|USDA|VA) | 128 | $32,390,000 | $253,047 | $6,385 | 4.15% |
| MODESTO, CA (FHA|USDA|VA) | 92 | $27,310,000 | $296,848 | $7,427 | 4.40% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 84 | $22,950,000 | $273,214 | $5,925 | 4.43% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 97 | $21,045,000 | $216,959 | $5,157 | 4.39% |
| BOULDER, CO (FHA|USDA|VA) | 52 | $20,460,000 | $393,462 | $4,099 | 4.25% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 54 | $16,860,000 | $312,222 | $5,984 | 3.95% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 36 | $11,820,000 | $328,333 | $4,254 | 4.28% |
| Edwards, CO (FHA|USDA|VA) | 24 | $10,130,000 | $422,083 | $3,467 | 4.26% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 31 | $8,325,000 | $268,548 | $4,206 | 4.28% |
| Sonora, CA (FHA|USDA|VA) | 21 | $5,425,000 | $258,333 | $7,186 | 4.64% |
| Steamboat Springs, CO (FHA|USDA|VA) | 10 | $4,400,000 | $440,000 | $4,149 | 4.01% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 19 | $3,185,000 | $167,632 | $5,836 | 4.37% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 5 | $2,655,000 | $531,000 | $3,673 | 4.13% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $2,070,000 | $517,500 | $8,904 | 4.13% |
| PROVO-OREM, UT (FHA|USDA|VA) | 7 | $2,045,000 | $292,143 | $5,259 | 3.98% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 3 | $1,885,000 | $628,333 | $11,655 | 3.92% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 6 | $1,770,000 | $295,000 | $4,227 | 4.33% |
| Brainerd, MN (FHA|USDA|VA) | 3 | $1,765,000 | $588,333 | $4,100 | 3.83% |
| Fort Morgan, CO (FHA|USDA|VA) | 6 | $1,760,000 | $293,333 | $4,652 | 4.60% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 5 | $1,595,000 | $319,000 | $7,711 | 4.20% |
| TUCSON, AZ (FHA|USDA|VA) | 6 | $1,440,000 | $240,000 | $3,565 | 4.10% |
| Red Bluff, CA (FHA|USDA|VA) | 6 | $1,370,000 | $228,333 | $5,942 | 4.67% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 5 | $1,315,000 | $263,000 | $5,876 | 4.63% |
| Glenwood Springs, CO (FHA|USDA|VA) | 3 | $1,215,000 | $405,000 | $2,395 | 3.92% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $1,155,000 | $385,000 | $6,566 | 4.50% |
| Ottawa, KS (FHA|USDA|VA) | 5 | $1,125,000 | $225,000 | $4,674 | 4.48% |
| MERCED, CA (FHA|USDA|VA) | 3 | $1,115,000 | $371,667 | $8,905 | 4.67% |
| STOCKTON, CA (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $6,635 | 4.56% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 6 | $1,010,000 | $168,333 | $5,580 | 4.08% |
| CHICO, CA (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $6,794 | 4.33% |
| MADERA, CA (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $3,764 | 4.25% |
| Durango, CO (FHA|USDA|VA) | 2 | $930,000 | $465,000 | $3,998 | 4.56% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $5,674 | 4.84% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $4,150 | 4.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $6,648 | 3.81% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $3,198 | 4.56% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $4,084 | 3.96% |
| Heber, UT (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $7,598 | 3.69% |
| ST. GEORGE, UT (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $7,053 | 3.71% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $3,041 | 4.56% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $3,057 | 4.71% |
| Red Wing, MN (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $6,067 | 3.56% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $3,086 | 4.38% |
| Williston, ND (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $3,631 | 3.75% |
| MANKATO, MN (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $6,203 | 4.13% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $3,367 | 3.81% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $3,459 | 4.50% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $4,966 | 3.50% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $3,138 | 3.75% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 3.75% |
| Douglas, GA (FHA|USDA|VA) | 4 | $420,000 | $105,000 | $3,042 | 3.84% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $7,741 | 3.25% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,777 | 4.63% |
| ST. CLOUD, MN (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,458 | 4.06% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $2,990 | 4.31% |
| Laramie, WY (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 4.00% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,667 | 4.38% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,347 | 4.38% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $3,360 | 4.44% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,477 | 4.63% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,473 | 4.50% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,485 | 4.38% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $3,353 | 4.63% |
| WICHITA, KS (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $3,737 | 4.38% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,468 | 4.50% |
| Warrensburg, MO (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,929 | 4.63% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,630 | 4.63% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,074 | 4.13% |
| MANHATTAN, KS (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,951 | 4.63% |
| SALEM, OR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,238 | 3.88% |
| Hutchinson, MN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,110 | 3.50% |
| LAWRENCE, KS (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 3.63% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,019 | 4.00% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,713 | 4.13% |
| CHEYENNE, WY (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,209 | 3.50% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,228 | 5.50% |
| PUEBLO, CO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,585 | 5.50% |
| JOPLIN, MO (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $2,738 | 4.13% |
| Willmar, MN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,552 | 4.63% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $3,021 | 5.38% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,360 | 4.25% |
| Menomonie, WI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,705 | 4.25% |
| Owatonna, MN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,706 | 3.63% |
| Cedar City, UT (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,910 | 4.88% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,621 | 4.00% |
| Branson, MO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,294 | 4.00% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,481 | 4.50% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,878 | 4.63% |
| Keene, NH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,688 | 5.25% |
| Rock Springs, WY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,981 | 4.13% |
| Atchison, KS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,169 | 4.25% |
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Product Mix
For 2019, Megastar Financial Corp.'s most frequently originated type of loan was Conventional, with 3,187 originations. Their 2nd most popular type was FHA, with 468 originations.
Loan Reason
For 2019, Megastar Financial Corp.'s most frequently cited loan purpose was Home Purchase, with 2,101 originations. The 2nd most popular reason was Refi, with 1,094 originations.
Loan Duration/Length
For 2019, Megastar Financial Corp.'s most frequently cited loan duration was 30 Year, with 3,591 originations. The 2nd most popular length was 15 Year, with 162 originations.
Origination Fees/Closing Costs
Megastar Financial Corp.'s average total fees were $4,703, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,892 originations.
Interest Rates
During 2019, Megastar Financial Corp.'s average interest rate for loans was 4.19%, while their most frequently originated rate bucket for loans was 3-4%, with 1,803 originations.
Loan Sizing
2019 saw Megastar Financial Corp. place emphasis on $200k-400k loans with 2,166 originations, totaling $639,410,000 in origination value.
Applicant Income
Megastar Financial Corp. lent most frequently to those with incomes in the $100k-150k range, with 1,002 originations. The second most popular income band? $50k-75k, with 831 originations.
Applicant Debt to Income Ratio
Megastar Financial Corp. lent most frequently to those with DTI ratios of 20-30%, with 785 originations. The next most common DTI ratio? 30-36%, with 704 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.41%
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 origination78.60%
Megastar Financial Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,893 | $1,235,345,000 | $317,325 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 30 | $5,590,000 | $186,333 |
| Single Family (1-4 Units):Site-Built | 3,863 | $1,229,755,000 | $318,342 |