Astera Mortgage Rates, Fees & Info
Lansing, MILEI: 549300YW2Z3JIKD72X32
Tax ID: 38-1399600
Latest/2023 | 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 Home Improvement and Other loans. Astera has a high proportion of conventional loans. Their top markets by origination volume include: Lansing, Grand Rapids, Ann Arbor, 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
60Origination Dollar Volume (All Markets)
$3,020,000Top 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) | 43 | $1,955,000 | $45,465 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 13 | $495,000 | $38,077 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $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 | 60 | $3,020,000 | $50,333 | $0 | 0.00% |
For 2022, Astera's most frequently originated type of loan was Conventional, with 60 originations.
Loan Reason
For 2022, Astera's most frequently cited loan purpose was Home Improvement, with 34 originations. The 2nd most popular reason was Other, with 21 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 60 | $3,020,000 | $50,333 | $0 | 0.00% |
For 2022, Astera's most frequently cited loan duration was Other, with 60 originations.
Loan Sizing
2022 saw Astera place emphasis on $100,000 or less loans with 54 originations, totaling $2,130,000 in origination value.
Applicant Income
Astera lent most frequently to those with incomes in the $50k-75k range, with 22 originations. The second most popular income band? $50k or less, with 14 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 60 | $3,020,000 | $50,333 | $0 | 0.00% |
Astera lent most frequently to those with DTI ratios of Exempt%, with 60 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications70.34%
Astera has a below average approval rate.
Pick Rate
Approvals leading to origination73.33%
Astera has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 60 | $3,020,000 | $50,333 |