Astera Mortgage Rates, Fees & Info

Lansing, MI

LEI: 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 loans. Astera has a high proportion of conventional loans. Their top markets by origination volume include: Lansing, Grand Rapids, Ludington, Traverse City, and Kalamazoo among others. We have data for 9 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

46

Origination Dollar Volume (All Markets)

$1,550,000

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
LANSING-EAST LANSING, MI (FHA|USDA|VA) 32 $1,070,000 $33,438 $0 0.00%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 6 $220,000 $36,667 $0 0.00%
Ludington, MI (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Outside of Metro Areas 2 $60,000 $30,000 $0 0.00%
Traverse City, MI (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
BATTLE CREEK, MI (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
Alma, MI (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
FLINT, MI (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
Astera's top markets include Lansing, Grand Rapids, Ludington, Traverse City, and Kalamazoo among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 46 $1,550,000 $33,696 $0 0.00%

    For 2020, Astera's most frequently originated type of loan was Conventional, with 46 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 34 $970,000 $28,529 $0 0.00%
    Home Improvement 5 $245,000 $49,000 $0 0.00%
    Cash Out Refi 5 $265,000 $53,000 $0 0.00%
    Home Purchase 2 $70,000 $35,000 $0 0.00%

    For 2020, Astera's most frequently cited loan purpose was Other, with 34 originations. The 2nd most popular reason was Home Improvement, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 46 $1,550,000 $33,696 $0 0.00%

    For 2020, Astera's most frequently cited loan duration was Other, with 46 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 45 $1,395,000 $31,000 $0 0.00%
    $100k-200k 1 $155,000 $155,000 $0 0.00%

    2020 saw Astera place emphasis on $100,000 or less loans with 45 originations, totaling $1,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 23 $775,000 $33,696 $0 0.00%
    $50k-75k 10 $400,000 $40,000 $0 0.00%
    $100k-150k 7 $245,000 $35,000 $0 0.00%
    $75k-100k 6 $130,000 $21,667 $0 0.00%

    Astera lent most frequently to those with incomes in the $50k or less range, with 23 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% 46 $1,550,000 $33,696 $0 0.00%

    Astera lent most frequently to those with DTI ratios of Exempt%, with 46 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 41 $1,305,000 $31,829 $0 0.00%
    Asian 1 $155,000 $155,000 $0 0.00%
    Black 4 $90,000 $22,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    79.57%

    Astera has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    56.52%

    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 46 $1,550,000 $33,696

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $70,000 $35,000
    Single Family (1-4 Units):Site-Built 44 $1,480,000 $33,636