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 Refi and 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, Fort Collins, Breckenridge, and Kansas City among others. We have data for 119 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% | 4/22/24 |
| 30 Year Conventional Refi | 6.59% | 4/22/24 |
| 30 Year Cash-out Refi | 6.89% | 4/22/24 |
| 30 Year FHA Purchase | 7.42% | 4/22/24 |
| 30 Year FHA Refi | 7.40% | 4/22/24 |
| 30 Year VA Purchase | 6.25% | 4/22/24 |
| 30 Year VA Refi | 6.27% | 4/22/24 |
| 30 Year USDA Purchase | 6.77% | 4/22/24 |
| 15 Year Conventional Purchase | 6.35% | 4/22/24 |
| 15 Year Conventional Refi | 6.14% | 4/22/24 |
| 15 Year Cash-out Refi | 6.14% | 4/22/24 |
| 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
6,961Origination Dollar Volume (All Markets)
$2,211,235,000Awards
MEGASTAR FINANCIAL CORP. - 2020
MEGASTAR FINANCIAL CORP. is a 2020 , due to their low .
For 2020, 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) | 2,719 | $971,635,000 | $357,350 | $4,064 | 3.22% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1,232 | $350,590,000 | $284,570 | $4,355 | 3.16% |
| FORT COLLINS, CO (FHA|USDA|VA) | 372 | $117,690,000 | $316,371 | $3,355 | 3.16% |
| Breckenridge, CO (FHA|USDA|VA) | 260 | $101,070,000 | $388,731 | $3,397 | 3.10% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 453 | $89,005,000 | $196,479 | $4,154 | 3.27% |
| Outside of Metro Areas | 287 | $83,565,000 | $291,167 | $4,428 | 3.08% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 153 | $75,545,000 | $493,758 | $8,735 | 3.03% |
| GREELEY, CO (FHA|USDA|VA) | 204 | $64,110,000 | $314,265 | $4,223 | 3.25% |
| REDDING, CA (FHA|USDA|VA) | 208 | $53,710,000 | $258,221 | $6,247 | 3.19% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 194 | $46,040,000 | $237,320 | $4,390 | 3.22% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 155 | $44,425,000 | $286,613 | $5,984 | 3.35% |
| MODESTO, CA (FHA|USDA|VA) | 114 | $33,700,000 | $295,614 | $7,026 | 3.42% |
| BOULDER, CO (FHA|USDA|VA) | 65 | $27,005,000 | $415,462 | $3,919 | 3.11% |
| Edwards, CO (FHA|USDA|VA) | 46 | $16,130,000 | $350,652 | $3,761 | 3.21% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 50 | $15,830,000 | $316,600 | $3,748 | 3.13% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 57 | $14,965,000 | $262,544 | $4,066 | 3.20% |
| Sonora, CA (FHA|USDA|VA) | 27 | $6,335,000 | $234,630 | $6,535 | 3.57% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 17 | $5,775,000 | $339,706 | $6,111 | 3.43% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 30 | $4,910,000 | $163,667 | $5,107 | 3.15% |
| Steamboat Springs, CO (FHA|USDA|VA) | 13 | $4,765,000 | $366,538 | $3,233 | 3.09% |
| STOCKTON, CA (FHA|USDA|VA) | 11 | $4,025,000 | $365,909 | $7,487 | 3.66% |
| Brainerd, MN (FHA|USDA|VA) | 12 | $3,900,000 | $325,000 | $4,431 | 3.00% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 10 | $3,750,000 | $375,000 | $4,858 | 3.50% |
| DULUTH, MN-WI (FHA|USDA|VA) | 8 | $2,850,000 | $356,250 | $4,653 | 3.03% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 5 | $2,605,000 | $521,000 | $6,309 | 3.58% |
| WENATCHEE, WA (FHA|USDA|VA) | 4 | $2,420,000 | $605,000 | $9,026 | 2.94% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 7 | $2,405,000 | $343,571 | $7,204 | 3.16% |
| Glenwood Springs, CO (FHA|USDA|VA) | 6 | $2,320,000 | $386,667 | $4,047 | 3.19% |
| TUCSON, AZ (FHA|USDA|VA) | 9 | $2,195,000 | $243,889 | $2,396 | 3.04% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 7 | $2,145,000 | $306,429 | $4,832 | 3.11% |
| Red Bluff, CA (FHA|USDA|VA) | 9 | $2,095,000 | $232,778 | $5,127 | 3.21% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 7 | $1,785,000 | $255,000 | $3,817 | 2.86% |
| VALLEJO, CA (FHA|USDA|VA) | 5 | $1,765,000 | $353,000 | $9,896 | 3.10% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 6 | $1,560,000 | $260,000 | $4,652 | 3.23% |
| Bozeman, MT (FHA|USDA|VA) | 3 | $1,545,000 | $515,000 | $8,120 | 3.29% |
| Hutchinson, MN (FHA|USDA|VA) | 8 | $1,530,000 | $191,250 | $4,195 | 3.31% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 7 | $1,495,000 | $213,571 | $4,922 | 2.91% |
| Red Wing, MN (FHA|USDA|VA) | 4 | $1,490,000 | $372,500 | $4,070 | 3.03% |
| Montrose, CO (FHA|USDA|VA) | 4 | $1,420,000 | $355,000 | $3,028 | 3.31% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 6 | $1,400,000 | $233,333 | $4,583 | 3.02% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 9 | $1,395,000 | $155,000 | $4,897 | 3.10% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 4 | $1,370,000 | $342,500 | $5,735 | 3.13% |
| Durango, CO (FHA|USDA|VA) | 3 | $1,185,000 | $395,000 | $4,329 | 3.58% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 4 | $1,170,000 | $292,500 | $3,066 | 3.06% |
| Fort Morgan, CO (FHA|USDA|VA) | 4 | $1,120,000 | $280,000 | $2,971 | 3.88% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 4 | $1,100,000 | $275,000 | $4,851 | 3.16% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $1,070,000 | $267,500 | $4,538 | 3.06% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $1,040,000 | $520,000 | $4,420 | 3.63% |
| Douglas, GA (FHA|USDA|VA) | 5 | $945,000 | $189,000 | $5,430 | 3.50% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $3,596 | 3.09% |
| Laramie, WY (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $4,362 | 3.08% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 4 | $870,000 | $217,500 | $5,238 | 3.66% |
| Warrensburg, MO (FHA|USDA|VA) | 4 | $830,000 | $207,500 | $4,075 | 3.06% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $4,828 | 3.00% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $6,831 | 3.13% |
| PROVO-OREM, UT (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $3,930 | 3.63% |
| PUEBLO, CO (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $3,394 | 2.96% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $8,415 | 3.94% |
| Williston, ND (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $4,640 | 3.69% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $7,794 | 3.19% |
| ST. CLOUD, MN (FHA|USDA|VA) | 4 | $640,000 | $160,000 | $3,341 | 3.13% |
| Cañon City, CO (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $4,436 | 3.46% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $4,639 | 3.19% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $4,044 | 3.13% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 4 | $570,000 | $142,500 | $3,973 | 3.13% |
| MANKATO, MN (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $5,272 | 3.13% |
| LAWRENCE, KS (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $2,530 | 3.50% |
| FARGO, ND-MN (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $7,852 | 3.31% |
| MADERA, CA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $5,574 | 3.56% |
| MERCED, CA (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $5,579 | 4.42% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $10,021 | 2.38% |
| WICHITA, KS (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $6,888 | 2.92% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $4,696 | 2.88% |
| Lebanon, MO (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $4,356 | 2.75% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $3,579 | 3.19% |
| Menomonie, WI (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $8,005 | 3.17% |
| Willmar, MN (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $4,353 | 3.17% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,792 | 3.25% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $2,764 | 3.25% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $2,586 | 3.13% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $6,897 | 3.00% |
| Alexandria, MN (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,512 | 3.08% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $1,993 | 3.25% |
| MANHATTAN, KS (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $4,731 | 2.75% |
| ROCHESTER, MN (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $6,372 | 3.25% |
| BEND, OR (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $4,278 | 3.00% |
| Sedalia, MO (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $2,676 | 3.13% |
| CHEYENNE, WY (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $2,131 | 2.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $8,357 | 3.06% |
| Key West, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $7,001 | 2.88% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $11,431 | 2.75% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,177 | 3.38% |
| APPLETON, WI (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $2,786 | 3.13% |
| MADISON, WI (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,110 | 3.38% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,209 | 3.75% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,285 | 3.50% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,288 | 3.00% |
| CHICO, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,853 | 3.13% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,338 | 3.06% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,780 | 3.38% |
| Heber, UT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,585 | 3.63% |
| SALEM, OR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,629 | 3.00% |
| Owatonna, MN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,331 | 3.50% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,140 | 3.63% |
| OCALA, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,087 | 2.75% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,399 | 3.25% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,246 | 3.38% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,328 | 3.75% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,446 | 3.00% |
| Gillette, WY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,138 | 2.88% |
| Fergus Falls, MN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,411 | 3.00% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,872 | 2.88% |
| Ottawa, KS (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,112 | 2.63% |
| Maryville, MO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,899 | 2.88% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,174 | 4.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,063 | 3.38% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,362 | 2.88% |
| Plainview, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,989 | 5.00% |
| Coffeyville, KS (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,263 | 2.88% |
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Product Mix
For 2020, Megastar Financial Corp.'s most frequently originated type of loan was Conventional, with 6,203 originations. Their 2nd most popular type was FHA, with 468 originations.
Loan Reason
For 2020, Megastar Financial Corp.'s most frequently cited loan purpose was Refi, with 3,681 originations. The 2nd most popular reason was Home Purchase, with 2,361 originations.
Loan Duration/Length
For 2020, Megastar Financial Corp.'s most frequently cited loan duration was 30 Year, with 5,904 originations. The 2nd most popular length was 15 Year, with 512 originations.
Origination Fees/Closing Costs
Megastar Financial Corp.'s average total fees were $4,575, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3,672 originations.
Interest Rates
During 2020, Megastar Financial Corp.'s average interest rate for loans was 3.24%, while their most frequently originated rate bucket for loans was 3-4%, with 3,808 originations.
Loan Sizing
2020 saw Megastar Financial Corp. place emphasis on $200k-400k loans with 3,956 originations, totaling $1,169,740,000 in origination value.
Applicant Income
Megastar Financial Corp. lent most frequently to those with incomes in the $100k-150k range, with 1,786 originations. The second most popular income band? $150k-250k, with 1,410 originations.
Applicant Debt to Income Ratio
Megastar Financial Corp. lent most frequently to those with DTI ratios of 20-30%, with 1,857 originations. The next most common DTI ratio? 30-36%, with 1,365 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.98%
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 origination81.60%
Megastar Financial Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 6,961 | $2,211,235,000 | $317,661 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 34 | $7,190,000 | $211,471 |
| Single Family (1-4 Units):Site-Built | 6,927 | $2,204,045,000 | $318,182 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEGASTAR FINANCIAL CORP | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 28.6% |
| MEGASTAR FINANCIAL CORP | VA mortgage | Trouble during payment process | 5 | 71.4% |