Astera Mortgage Rates, Fees & Info
Lansing, MILEI: 549300YW2Z3JIKD72X32
Tax ID: 38-1399600
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Astera is a smaller mortgage company specializing in Other and Home Improvement loans. Astera has a high proportion of conventional loans. Their top markets by origination volume include: Lansing, Grand Rapids, Jackson, Detroit, and Alma among others. We have data for 5 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.
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Originations
34Origination Dollar Volume (All Markets)
$1,600,000Top 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) | 23 | $1,225,000 | $53,261 | $0 | 8.08% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 6 | $180,000 | $30,000 | $0 | 8.71% |
| JACKSON, MI (FHA|USDA|VA) | 3 | $105,000 | $35,000 | $0 | 8.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 9.75% |
| Alma, MI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 7.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 34 | $1,600,000 | $47,059 | $0 | 8.23% |
For 2024, Astera's most frequently originated type of loan was Conventional, with 34 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 20 | $1,120,000 | $56,000 | $0 | 8.54% |
| Home Improvement | 14 | $480,000 | $34,286 | $0 | 7.80% |
For 2024, Astera's most frequently cited loan purpose was Other, with 20 originations. The 2nd most popular reason was Home Improvement, with 14 originations.
Loan Duration/Length
For 2024, Astera's most frequently cited loan duration was 10 Year, with 18 originations. The 2nd most popular length was 15 Year, with 11 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 21 | $1,085,000 | $51,667 |
| Over 8% | 12 | $500,000 | $41,667 |
During 2024, Astera's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 21 originations.
Loan Sizing
2024 saw Astera place emphasis on $100,000 or less loans with 32 originations, totaling $1,250,000 in origination value.
Applicant Income
Astera lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $50k or less, with 11 originations.
Applicant Debt to Income Ratio
Astera lent most frequently to those with DTI ratios of 30-36%, with 11 originations. The next most common DTI ratio? 20-30%, with 6 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 32 | $1,500,000 | $46,875 | $0 | 8.22% |
| Black | 1 | $55,000 | $55,000 | $0 | 7.50% |
| Not provided | 1 | $45,000 | $45,000 | $0 | 9.25% |
Approval Rates
Total approvals of all applications71.26%
Astera has a below average approval rate.
Pick Rate
Approvals leading to origination35.29%
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 |
|---|---|---|---|
| NA | 34 | $1,600,000 | $47,059 |