Sterling Bank And Trust Fsb Mortgage Rates, Fees & Info

Southfield, MI

LEI: 549300ZEHLZ064G58146

Tax ID: 38-2524834

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

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Mortgage Data

Bank Data

Review & Overview

Sterling Bank And Trust Fsb is a smaller bank specializing in Home Purchase and Refi loans. Sterling Bank And Trust Fsb has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, Los Angeles, New York, San Jose, and Riverside among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

Sterling Bank And Trust Fsb 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. Sterling Bank And Trust Fsb is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 7.14% 3/27/24
30 Year Conventional Refi 7.28% 3/27/24
30 Year Cash-out Refi 7.02% 3/27/24
30 Year FHA Purchase 6.27% 3/27/24
30 Year VA Purchase 6.27% 3/27/24
15 Year Conventional Purchase 6.44% 3/27/24
15 Year Conventional Refi 5.86% 3/27/24
15 Year Cash-out Refi 5.86% 3/27/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Sterling Bank And Trust Fsb Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Sterling Bank And Trust Fsb. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

268

Origination Dollar Volume (All Markets)

$189,810,000

Employee count

303

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
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 185 $127,215,000 $687,649 $6,510 3.37%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 63 $29,465,000 $467,698 $7,349 3.49%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 4 $29,090,000 $7,272,500 $6,035 3.04%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 4 $1,730,000 $432,500 $4,541 3.13%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $920,000 $230,000 $2,773 3.31%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 4 $470,000 $117,500 $1,499 2.47%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $325,000 $325,000 $6,669 3.50%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $315,000 $315,000 $0 3.63%
MUSKEGON, MI (FHA|USDA|VA) 1 $215,000 $215,000 $2,329 3.00%
Outside of Metro Areas 1 $65,000 $65,000 $857 2.63%
Sterling Bank And Trust Fsb's top markets include San Francisco, Los Angeles, New York, San Jose, and Riverside among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 268 $189,810,000 $708,246 $6,540 3.37%

    For 2021, Sterling Bank And Trust Fsb's most frequently originated type of loan was Conventional, with 268 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 157 $131,645,000 $838,503 $8,064 3.49%
    Refi 88 $46,380,000 $527,045 $4,177 3.15%
    Cash Out Refi 21 $11,025,000 $525,000 $3,558 3.46%
    Home Improvement 2 $760,000 $380,000 $5,717 3.25%

    For 2021, Sterling Bank And Trust Fsb's most frequently cited loan purpose was Home Purchase, with 157 originations. The 2nd most popular reason was Refi, with 88 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 238 $152,670,000 $641,471 $6,868 3.44%
    15 Year 16 $4,310,000 $269,375 $2,864 2.79%
    20 Year 9 $3,305,000 $367,222 $3,123 3.10%
    10 Year 4 $1,520,000 $380,000 $4,097 2.42%
    3 Year 1 $28,005,000 $28,005,000 $0 0.00%

    For 2021, Sterling Bank And Trust Fsb's most frequently cited loan duration was 30 Year, with 238 originations. The 2nd most popular length was 15 Year, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 147 $97,825,000 $665,476
    $5k+ 37 $28,075,000 $758,784
    $4k-5k 27 $15,155,000 $561,296
    $3k-4k 23 $10,245,000 $445,435
    $2k-3k 15 $5,175,000 $345,000
    $<1k 5 $815,000 $163,000

    Sterling Bank And Trust Fsb's average total fees were $6,868, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 147 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 222 $142,300,000 $640,991
    2.5-3% 32 $15,200,000 $475,000
    <2.5% 10 $2,400,000 $240,000
    4-5% 2 $1,100,000 $550,000

    During 2021, Sterling Bank And Trust Fsb's average interest rate for loans was 3.44%, while their most frequently originated rate bucket for loans was 3-4%, with 222 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 90 $66,580,000 $739,778 $7,407 3.45%
    $200k-400k 71 $22,665,000 $319,225 $5,255 3.35%
    $400k-600k 63 $31,055,000 $492,937 $6,323 3.33%
    $1MM+ 34 $68,160,000 $2,004,706 $8,017 3.47%
    $100k-200k 7 $1,135,000 $162,143 $3,971 2.96%
    $100,000 or less 3 $215,000 $71,667 $1,015 2.54%

    2021 saw Sterling Bank And Trust Fsb place emphasis on $600k-1MM loans with 90 originations, totaling $66,580,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 106 $62,500,000 $589,623 $6,776 3.38%
    $250k+ 66 $62,480,000 $946,667 $7,280 3.41%
    $100k-150k 59 $24,955,000 $422,966 $5,903 3.34%
    $75k-100k 22 $7,700,000 $350,000 $5,845 3.34%
    $50k-75k 9 $2,445,000 $271,667 $5,256 3.44%
    $50k or less 4 $920,000 $230,000 $3,475 3.28%

    Sterling Bank And Trust Fsb lent most frequently to those with incomes in the $150k-250k range, with 106 originations. The second most popular income band? $250k+, with 66 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 87 $58,315,000 $670,287 $6,730 3.37%
    20-30% 74 $46,270,000 $625,270 $6,611 3.39%
    37% 24 $14,660,000 $610,833 $7,539 3.36%
    36% 20 $12,080,000 $604,000 $7,337 3.42%
    <20% 15 $6,915,000 $461,000 $4,717 3.28%
    41% 8 $3,800,000 $475,000 $6,192 3.44%
    42% 8 $3,740,000 $467,500 $6,772 3.63%
    44% 6 $2,930,000 $488,333 $5,963 3.06%
    38% 6 $2,600,000 $433,333 $6,188 3.40%
    40% 5 $3,415,000 $683,000 $6,062 3.53%
    39% 3 $1,945,000 $648,333 $4,027 3.04%
    45% 3 $1,275,000 $425,000 $3,577 2.83%
    47% 2 $1,080,000 $540,000 $3,829 3.31%
    48% 2 $950,000 $475,000 $5,374 3.88%
    49% 1 $345,000 $345,000 $0 4.13%
    46% 1 $255,000 $255,000 $2,554 3.25%
    43% 1 $425,000 $425,000 $0 3.25%

    Sterling Bank And Trust Fsb lent most frequently to those with DTI ratios of 30-36%, with 87 originations. The next most common DTI ratio? 20-30%, with 74 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 158 $101,480,000 $642,278 $6,752 3.40%
    Asian 84 $46,660,000 $555,476 $6,042 3.32%
    Not applicable 2 $28,810,000 $14,405,000 $0 0.00%
    Not provided 20 $11,380,000 $569,000 $6,637 3.39%
    Black 4 $1,480,000 $370,000 $6,934 3.28%

    Approval Rates

    Total approvals of all applications
    83.06%

    Sterling Bank And Trust Fsb has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    63.81%

    Sterling Bank And Trust Fsb 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
    NA 268 $189,810,000 $708,246

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    268 $189,810,000 $708,246

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $8,775,000 $351,000 $3,985 3.14%
    40-60% 48 $22,260,000 $463,750 $4,386 3.25%
    60-80% 102 $100,230,000 $982,647 $6,925 3.42%
    80-100% 87 $57,255,000 $658,103 $7,884 3.49%
    Under 20% 6 $1,290,000 $215,000 $4,218 2.94%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    STERLING BANCORP Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 5.3%
    STERLING BANCORP Conventional home mortgage Closing on a mortgage 1 5.3%
    STERLING BANCORP Conventional home mortgage Struggling to pay mortgage 4 21.1%
    STERLING BANCORP Conventional home mortgage Trouble during payment process 9 47.4%
    STERLING BANCORP Home equity loan or line of credit (HELOC) Trouble during payment process 1 5.3%
    STERLING BANCORP Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 5.3%
    STERLING BANCORP Other type of mortgage Trouble during payment process 2 10.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Sterling Bank and Trust, FSB 10191 S De Anza Blvd Cupertino, CA 95014 Full Service B&M $41,264
    Sterling Bank and Trust, FSB 1100 Bellevue Way Ne Bellevue, WA 98004 Full Service B&M $73,383
    Sterling Bank and Trust, FSB 1104 4th Street San Rafael, CA 94901 Full Service B&M $45,211
    Sterling Bank and Trust, FSB 1122 Taraval St San Francisco, CA 94116 Full Service B&M $95,529
    Sterling Bank and Trust, FSB 115 West Portal Avenue San Francisco, CA 94127 Full Service B&M $75,363
    Sterling Bank and Trust, FSB 1210 Broadway Burlingame, CA 94010 Full Service B&M $142,973
    Sterling Bank and Trust, FSB 1239 Noriega Street San Francisco, CA 94122 Full Service B&M $71,484
    Sterling Bank and Trust, FSB 15 E 4th Ave San Mateo, CA 94401 Full Service B&M $77,643
    Sterling Bank and Trust, FSB 1900 Fillmore Street San Francisco, CA 94115 Full Service B&M $34,190
    Sterling Bank and Trust, FSB 19220 Colima Road La Puente, CA 91748 Full Service B&M $95,558
    Sterling Bank and Trust, FSB 2045 Van Ness Avenue San Francisco, CA 94109 Full Service B&M $141,265
    Sterling Bank and Trust, FSB 2100 Market Street San Francisco, CA 94114 Full Service B&M $47,625
    Sterling Bank and Trust, FSB 2501 Irving Street San Francisco, CA 94122 Full Service B&M $186,748
    Sterling Bank and Trust, FSB 2555 San Bruno Avenue San Francisco, CA 94134 Full Service B&M $90,283
    Sterling Bank and Trust, FSB 2911 Chino Hills Unit F-1 Chino Hills, CA 91709 Full Service B&M $27,177
    Sterling Bank and Trust, FSB 3640 Wilshire Blvd, Suite 150 Los Angeles, CA 90010 Full Service B&M $24,860
    Sterling Bank and Trust, FSB 3800 24th Street San Francisco, CA 94114 Full Service B&M $106,416
    Sterling Bank and Trust, FSB 38990 Paseo Padre Pkwy Fremont, CA 94538 Full Service B&M $28,217
    Sterling Bank and Trust, FSB 39-02 Main St Flushing, NY 11354 Full Service B&M $46,835
    Sterling Bank and Trust, FSB 400 Montgomery St, Ste 100 San Francisco, CA 94104 Full Service B&M $114,285
    Sterling Bank and Trust, FSB 4250 Barranca Parkway, Suite S Irvine, CA 92604 Full Service B&M $67,849
    Sterling Bank and Trust, FSB 440 Westlake Center Dr, Suite 4022 Daly City, CA 94015 Full Service B&M $113,836
    Sterling Bank and Trust, FSB 4627 Mission St San Francisco, CA 94112 Full Service B&M $66,384
    Sterling Bank and Trust, FSB 5498 Geary Boulevard San Francisco, CA 94121 Full Service B&M $172,443
    Sterling Bank and Trust, FSB 657 West Durate Road Arcadia, CA 91007 Full Service B&M $133,467
    Sterling Bank and Trust, FSB 711 W Valley Blvd, Ste 100 Alhambra, CA 91803 Full Service B&M $256,723
    Sterling Bank and Trust, FSB 735 Webster Street Oakland, CA 94607 Full Service B&M $54,845
    Sterling Bank and Trust, FSB 774 55th Street, Third Floor Brooklyn, NY 11220 Full Service B&M $4,859
    Sterling Bank and Trust, FSB 825 Irving Street San Francisco, CA 94122 Full Service B&M $122,624
    Sterling Bank and Trust, FSB One Towne Square, Suite 1900 Southfield, MI 48076 Full Service B&M $80,527

    For 2021, Sterling Bank And Trust Fsb had 30 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $116,540
    Net interest income $95,169
    Total noninterest income $2,745
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $343
    Trading account gains and fees $0
    Additional Noninterest Income $2,402
    Pre-tax net operating income $36,381
    Securities gains (or losses, -) $-142
    Income before extraordinary items $25,724
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $25,724
    Minority interest net income $0
    Net income $25,724
    Sale, conversion, retirement of capital stock, net $580
    Net operating income $25,836

    Sterling Bank And Trust Fsb's gross interest income from loans was $116,540,000.
    Sterling Bank And Trust Fsb's net interest income from loans was $95,169,000.
    Sterling Bank And Trust Fsb's fee based income from loans was $343,000.
    Sterling Bank And Trust Fsb's net income from loans was $25,724,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $21,371
    Provision for credit losses $-3,771
    Total noninterest expense $65,304
    Salaries and employee benefits $25,385
    Premises and equipment expense $9,108
    Additional noninterest expense $30,811
    Applicable income taxes $10,515
    Net charge-offs $12,068
    Cash dividends $10,000

    Sterling Bank And Trust Fsb's interest expense for loans was $21,371,000.
    Sterling Bank And Trust Fsb's payroll and benefits expense were $25,385,000.
    Sterling Bank And Trust Fsb's property, plant and equipment expenses $9,108,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 3.0%
    Real Estate loans 3.0%
    Construction & Land Development loans 11.0%
    Nonfarm, nonresidential loans 12.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 3.0%
    HELOC loans 1.0%
    All other family 3.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $2,294,403
    Deposits held in domestic offices $2,294,403
    Deposits by Individuals, partnerships, and corporations $2,273,574
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $495
    Deposits by Commercial banks and other depository institutions in U.S. $20,333
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $239,819
    Demand deposits $90,442
    Nontransaction accounts $2,054,583
    Money market deposit accounts (MMDAs) $1,150,250
    Other savings deposits (excluding MMDAs) $12,513
    Total time deposits $891,819
    Total time and savings deposits $2,203,960
    Noninterest-bearing deposits $90,522
    Interest-bearing deposits $2,203,881
    Retail deposits $2,032,177
    IRAs and Keogh plan accounts $51,968
    Brokered deposits $20,109
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,873,668
    Cash & Balances due from depository institutions $411,470
    Interest-bearing balances $408,137
    Total securities $313,632
    Federal funds sold & reverse repurchase $1,395
    Net loans and leases $2,020,954
    Loan and leases loss allowance $56,548
    Trading account assets $0
    Bank premises and fixed assets $25,258
    Other real estate owned $0
    Goodwill and other intangibles $2,722
    All other assets $98,237

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,873,668
    Total Liabilities $2,495,037
    Total deposits $2,294,403
    Interest-bearing deposits $2,203,881
    Deposits held in domestic offices $2,294,403
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $150,000
    Subordinated debt $0
    All other liabilities $50,634

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,020,954
    Loan and leases loss allowance $56,548
    Total loans and leases (domestic) $2,077,502
    All real estate loans $2,077,281
    Real estate loans in domestic offices $2,077,281
    Construction and development loans $111,754
    Residential 1-4 family construction $23,155
    Other construction, all land development and other land $88,599
    Loans secured by nonfarm nonresidential properties $106,614
    Nonfarm nonresidential secured by owner-occupied properties $2,077
    Commercial real estate & other non-farm, non-residential $104,537
    Multifamily residential real estate $112,790
    1-4 family residential loans $1,746,123
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $0
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $0
    All other loans & leases $221
    Loans to foreign governments and official institutions $0
    Other loans $221
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,664
    Non 1-4 family restructured loans & leases $2,600
    Total loans and leases (foreign) $0

    Sterling Bank and Trust FSB had $2,020,954,000 of loans outstanding in 2021. $2,077,281,000 of loans were in real estate loans. $111,754,000 of loans were in development loans. $112,790,000 of loans were in multifamily mortgage loans. $1,746,123,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 14 $6,692 $478,000
    Nonfarm, nonresidential loans - $100-250k 2 $138 $69,000
    Nonfarm, nonresidential loans - $250k-1MM 12 $6,554 $546,167