Sterling Bank And Trust Fsb Mortgage Rates, Fees & Info
Southfield, MILEI: 549300ZEHLZ064G58146
Tax ID: 38-2524834
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Sterling Bank And Trust Fsb is a smaller bank specializing in Cash Out Refi and Refi loans. Sterling Bank And Trust Fsb has a high proportion of conventional loans. Their top markets by origination volume include: New York, Los Angeles, and Detroit among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Sterling Bank And Trust Fsb has an above 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
8Origination Dollar Volume (All Markets)
$64,540,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 6 | $61,630,000 | $10,271,667 | $0 | 6.42% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $2,505,000 | $2,505,000 | $0 | 6.21% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 6.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Sterling Bank and Trust FSB based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 42
Similarity Rank: 64
Similarity Rank: 81
Similarity Rank: 126
Similarity Rank: 154
Similarity Rank: 184
Similarity Rank: 205
Similarity Rank: 216
Similarity Rank: 260
Similarity Rank: 336
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 8 | $64,540,000 | $8,067,500 | $0 | 6.37% |
For 2024, Sterling Bank And Trust Fsb's most frequently originated type of loan was Conventional, with 8 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 5 | $20,775,000 | $4,155,000 | $0 | 6.51% |
| Refi | 3 | $43,765,000 | $14,588,333 | $0 | 6.15% |
For 2024, Sterling Bank And Trust Fsb's most frequently cited loan purpose was Cash Out Refi, with 5 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 10 Year | 5 | $22,975,000 | $4,595,000 | $0 | 6.44% |
| 5 Year | 2 | $41,160,000 | $20,580,000 | $0 | 6.28% |
| 15 Year | 1 | $405,000 | $405,000 | $0 | 6.25% |
For 2024, Sterling Bank And Trust Fsb's most frequently cited loan duration was 10 Year, with 5 originations. The 2nd most popular length was 5 Year, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 6 | $22,380,000 | $3,730,000 |
| 5-6% | 2 | $42,160,000 | $21,080,000 |
During 2024, Sterling Bank And Trust Fsb's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 6 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 7 | $64,135,000 | $9,162,143 | $0 | 6.39% |
| $400k-600k | 1 | $405,000 | $405,000 | $0 | 6.25% |
2024 saw Sterling Bank And Trust Fsb place emphasis on $1MM+ loans with 7 originations, totaling $64,135,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 8 | $64,540,000 | $8,067,500 | $0 | 6.37% |
Approval Rates
Total approvals of all applications100.00%
Sterling Bank And Trust Fsb has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination87.50%
Sterling Bank And Trust Fsb has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 8 | $64,540,000 | $8,067,500 |