Astera Mortgage Rates, Fees & Info
Lansing, MILEI: 549300YW2Z3JIKD72X32
Tax ID: 38-1399600
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Astera is a smaller mortgage company specializing in Other and Home Purchase loans. Astera has a high proportion of conventional loans. Their top markets by origination volume include: Lansing, Ann Arbor, Grand Rapids, Detroit, and Alma among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Astera has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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.
Originations
48Origination Dollar Volume (All Markets)
$2,400,000Top 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 |
|---|---|---|---|---|---|
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 32 | $1,370,000 | $42,813 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 11 | $385,000 | $35,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Alma, MI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 48 | $2,400,000 | $50,000 | $0 | 0.00% |
For 2023, Astera's most frequently originated type of loan was Conventional, with 48 originations.
Loan Reason
For 2023, Astera's most frequently cited loan purpose was Other, with 27 originations. The 2nd most popular reason was Home Improvement, with 14 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 48 | $2,400,000 | $50,000 | $0 | 0.00% |
For 2023, Astera's most frequently cited loan duration was Other, with 48 originations.
Loan Sizing
2023 saw Astera place emphasis on $100,000 or less loans with 43 originations, totaling $1,595,000 in origination value.
Applicant Income
Astera lent most frequently to those with incomes in the $50k or less range, with 15 originations. The second most popular income band? $50k-75k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 48 | $2,400,000 | $50,000 | $0 | 0.00% |
Astera lent most frequently to those with DTI ratios of Exempt%, with 48 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.29%
Astera has a below average approval rate.
Pick Rate
Approvals leading to origination54.17%
Astera 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 |
|---|---|---|---|
| Exempt | 48 | $2,400,000 | $50,000 |