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, Grand Rapids, Jackson, Detroit, and Big Rapids among others. We have data for 8 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
74Origination Dollar Volume (All Markets)
$2,790,000Top 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) | 53 | $2,195,000 | $41,415 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 10 | $250,000 | $25,000 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 3 | $105,000 | $35,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 0.00% |
| Big Rapids, MI (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $40,000 | $20,000 | $0 | 0.00% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 2 | $40,000 | $20,000 | $0 | 0.00% |
| Alma, MI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 74 | $2,790,000 | $37,703 | $0 | 0.00% |
For 2019, Astera's most frequently originated type of loan was Conventional, with 74 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 64 | $2,390,000 | $37,344 | $0 | 0.00% |
| Home Improvement | 6 | $160,000 | $26,667 | $0 | 0.00% |
| Refi | 4 | $240,000 | $60,000 | $0 | 0.00% |
For 2019, Astera's most frequently cited loan purpose was Other, with 64 originations. The 2nd most popular reason was Home Improvement, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 74 | $2,790,000 | $37,703 | $0 | 0.00% |
For 2019, Astera's most frequently cited loan duration was Other, with 74 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 72 | $2,530,000 | $35,139 | $0 | 0.00% |
| $100k-200k | 2 | $260,000 | $130,000 | $0 | 0.00% |
2019 saw Astera place emphasis on $100,000 or less loans with 72 originations, totaling $2,530,000 in origination value.
Applicant Income
Astera lent most frequently to those with incomes in the $50k or less range, with 40 originations. The second most popular income band? $75k-100k, with 14 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 74 | $2,790,000 | $37,703 | $0 | 0.00% |
Astera lent most frequently to those with DTI ratios of Exempt%, with 74 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.30%
Astera has an average approval rate.
Pick Rate
Approvals leading to origination43.24%
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 | 74 | $2,790,000 | $37,703 |