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We analyzed every closed loan from Megastar Financial — 937 loans across 1k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Exceptional
vs. all lenders
Pull Through
Strong
closing strength
Products
Strong
FHA · Conventional · VA · Jumbo
Place
Strong
Multi-Region · 9 mkts
Safe Rate Awards⭐Conventional Superstar⭐FHA Superstar⭐Purchase Superstar⭐Refinance Superstar
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Safe Rate's Summary
What They Do Well
- Competitive pricing compared to the market
- Lower than average lender fees
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and Jumbo loans
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Report Card
Megastar Financial Corp. performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Market Leader +33.7 bps above market avg | |
Pull Through Closing strength | Highly Competitive Top 40% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Highly Competitive Top 40% of lenders | |
FHA | Highly Competitive Top 40% of lenders | |
VA | Highly Competitive Top 40% of lenders | |
Jumbo | Highly Competitive Top 40% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Highly Competitive Top 40% of lenders | |
Refinance | Highly Competitive Top 40% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Highly Competitive Top 40% of lenders Multi-Regional10 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 707 | 75.5% | +0.367%Above | $6,217Credit | ||||
FHA Loans | 156 | 16.6% | +0.404%Above | $8,082Credit | ||||
VA Loans | — | 49 | 5.2% | -0.152%Below | $5,882Credit | |||
Jumbo Loans | — | 18 | 1.9% | +0.076%Above | $7,571Credit |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 828 | 88.4% | +0.353%Above | $6,686Credit | ||||
Refinance | 109 | 11.6% | +0.240%Above | $4,861Credit |
At a Glance
Lender Overview
Lending Activity
Loans Originated
937
Applications
1,277
Volume
$386 million
Pricing & Closing
Avg Rate Spread
+0.337%
vs. market APOR
Avg Net Fees
$-6,423
Origination − Credits
Pullthrough Rate
73.4%
Applications → Closed
Typical Borrower
Avg Loan Amount
$412,001
Avg Borrower Income
$161,462
Avg Property Value
$548,095
Geographic Coverage
Geographic Performance
Metro Areas
9
States Served
18
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
AZCACOFLGAKSMAMEMNMOMTNHNMORTNTXWAWI
Top Metro Areas by Place Specialization Score
1
Denver, COMSA
Volume: 264Mix: 28.18%of portfolio
Place
Strong2
Minneapolis, MN-WIMSA
Volume: 172Mix: 18.36%of portfolio
Place
Strong3
Kansas City, MO, MO-KSMSA
Volume: 121Mix: 12.91%of portfolio
Place
Strong4
Fort Collins, COMSA
Volume: 50Mix: 5.34%of portfolio
Place
Strong5
Redding, CA, CAMSA
Volume: 31Mix: 3.31%of portfolio
Place
Strong6
Greeley, CO, COMSA
Volume: 31Mix: 3.31%of portfolio
Place
Strong7
Portland, MEMSA
Volume: 20Mix: 2.13%of portfolio
Place
Sound8
Seattle, WAMSA
Volume: 19Mix: 2.03%of portfolio
Place
Sound9
Riverside, CAMSA
Volume: 21Mix: 2.24%of portfolio
Place
SoundTop States by Place Specialization Score
1
COState
Volume: 408Mix: 43.54%of portfolio
Place
Strong2
MNState
Volume: 189Mix: 20.17%of portfolio
Place
Strong3
MOState
Volume: 118Mix: 12.59%of portfolio
Place
Strong4
MEState
Volume: 37Mix: 3.95%of portfolio
Place
Sound5
CAState
Volume: 80Mix: 8.54%of portfolio
Place
Sound6
KSState
Volume: 22Mix: 2.35%of portfolio
Place
Sound7
WAState
Volume: 28Mix: 2.99%of portfolio
Place
Sound8
WIState
Volume: 12Mix: 1.28%of portfolio
Place
Acceptable9
FLState
Volume: 14Mix: 1.49%of portfolio
Place
AcceptableHow We Rank Lenders
Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.
Our Point System (Max 30 Points)
10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.
No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.
HMDA 2024Built using publicly available originated loan data from the federal government.
Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.