Astera Mortgage Rates, Fees & Info
Lansing, MILEI: 549300YW2Z3JIKD72X32
Tax ID: 38-1399600
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Mortgage Data
Review & Overview
Astera is a smaller mortgage company specializing in Other loans. Astera has a high proportion of conventional loans. Their top markets by origination volume include: Lansing, Jackson, Grand Rapids, Alma, and Flint among others. We have data for 7 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
50Origination Dollar Volume (All Markets)
$2,250,000Top 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) | 42 | $1,860,000 | $44,286 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $0 | 0.00% |
| Alma, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| FLINT, MI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $45,000 | $45,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, 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 | 50 | $2,250,000 | $45,000 | $0 | 0.00% |
For 2018, Astera's most frequently originated type of loan was Conventional, with 50 originations.
Loan Reason
For 2018, Astera's most frequently cited loan purpose was Other, with 31 originations. The 2nd most popular reason was Home Improvement, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 50 | $2,250,000 | $45,000 | $0 | 0.00% |
For 2018, Astera's most frequently cited loan duration was Other, with 50 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 46 | $1,780,000 | $38,696 | $0 | 0.00% |
| $100k-200k | 4 | $470,000 | $117,500 | $0 | 0.00% |
2018 saw Astera place emphasis on $100,000 or less loans with 46 originations, totaling $1,780,000 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 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 50 | $2,250,000 | $45,000 | $0 | 0.00% |
Astera lent most frequently to those with DTI ratios of Exempt%, with 50 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 49 | $2,235,000 | $45,612 | $0 | 0.00% |
| Not provided | 1 | $15,000 | $15,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications80.56%
Astera has a below average approval rate.
Pick Rate
Approvals leading to origination48.00%
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 | 50 | $2,250,000 | $45,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 50 | $2,250,000 | $45,000 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Astra Business Services | Other type of mortgage | Struggling to pay mortgage | 1 | 100.0% |