Oakstar Bank Mortgage Interest Rate and Cost Review

Is Oakstar Bank a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Oakstar Bank to those of other lenders for a comparable set of borrowers. Here is our review of Oakstar Bank nationally:

Review ItemOakstar Bank
Interest Ratelower than other lenders (-0.13%)
Loan Related Closing Costslower than other lenders (-$267)
National Rate and Closing Cost Star Rating(4.5)

On average, Oakstar Bank’s interest rates were lower than those of other lenders (-0.13%). Its loan related closing costs were also lower than those of other lenders, with a difference of -$267. Overall, combining interest rates and closing costs we estimate that Oakstar Bank tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.5 out of 5 stars. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Oakstar Bank, its website is located at: https://www.oakstarbank.com.

Oakstar Bank’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track Oakstar Bank was most active in:

  1. Springfield, MO
  2. Kansas City, MO
  3. Village of Four Seasons, MO
  4. Branson, MO
  5. Sedalia, MO

In addition, Oakstar Bank is our top ranked/best mortgage lender in terms of interest rate and closing costs in:

Oakstar Bank’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Oakstar Bank originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAUSDAVA
Interest Rate Difference-0.13%-0.16%-0.12%-0.11%
Loan Related Closing Cost Difference-$196-$212-$195-$177
Cost Adjusted Rate Difference-0.14%-0.18%-0.14%-0.12%
National Star Rating(4)(4.5)(4)(4)
Refinance MortgagesConformingFHAVA
Interest Rate Difference-0.16%-0.05%-0.06%
Loan Related Closing Cost Difference-$420-$80-$292
Cost Adjusted Rate Difference-0.20%-0.06%-0.07%
Average Star Rating(4.5)(4)(4)

As a summary, Oakstar Bank is cheap for Conforming, FHA, USDA and VA purchase mortgages. For refinancing mortgages, Oakstar Bank is cheap for Conforming, FHA and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Oakstar Bank:

Registered name: Oakstarbank
Registered city and state: SPRINGFIELD, MO, 65807
Regulator: Federal Reserve System (FRS)
Top holder: OAKSTAR BANCSHARES, INC.

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Oakstar Bank’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.