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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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, and Detroit among others. We have data for 4 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.

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    Originations

    35

    Origination Dollar Volume (All Markets)

    $1,375,000

    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) 25 $1,015,000 $40,600 $0 0.00%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 7 $225,000 $32,143 $0 0.00%
    Outside of Metro Areas 2 $100,000 $50,000 $0 0.00%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    Astera's top markets include Lansing, Grand Rapids, and Detroit among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 35 $1,375,000 $39,286 $0 0.00%

    For 2021, Astera's most frequently originated type of loan was Conventional, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 30 $1,190,000 $39,667 $0 0.00%
    Home Improvement 3 $95,000 $31,667 $0 0.00%
    Home Purchase 1 $45,000 $45,000 $0 0.00%
    Cash Out Refi 1 $45,000 $45,000 $0 0.00%

    For 2021, Astera's most frequently cited loan purpose was Other, with 30 originations. The 2nd most popular reason was Home Improvement, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 35 $1,375,000 $39,286 $0 0.00%

    For 2021, Astera's most frequently cited loan duration was Other, with 35 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 33 $1,145,000 $34,697 $0 0.00%
    $100k-200k 2 $230,000 $115,000 $0 0.00%

    2021 saw Astera place emphasis on $100,000 or less loans with 33 originations, totaling $1,145,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 16 $550,000 $34,375 $0 0.00%
    $50k-75k 8 $240,000 $30,000 $0 0.00%
    $100k-150k 5 $255,000 $51,000 $0 0.00%
    $75k-100k 4 $150,000 $37,500 $0 0.00%
    $150k-250k 2 $180,000 $90,000 $0 0.00%

    Astera lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $50k-75k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 35 $1,375,000 $39,286 $0 0.00%

    Astera lent most frequently to those with DTI ratios of Exempt%, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 30 $1,230,000 $41,000 $0 0.00%
    Not provided 2 $50,000 $25,000 $0 0.00%
    Filipino 1 $45,000 $45,000 $0 0.00%
    Vietnamese 1 $35,000 $35,000 $0 0.00%
    American Indian 1 $15,000 $15,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    76.19%

    Astera has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    48.57%

    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 35 $1,375,000 $39,286

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    35 $1,375,000 $39,286