Is Starboard Financial Management, LLC An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Starboard Financial Management, LLC with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (-0.04%)
Loan Related Closing Costs: similar to average (+$188)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, Starboard Financial Management, LLC originated 890 mortgages, a national market share of 0.0%. It was most active in AZ (0.4% market share), IL (0.1% market share), and ID (0.0% market share).

On average, Starboard Financial Management, LLC’s interest rates were similar to those of comparable mortgages at other lenders (-0.04%).1The comparable mortgages control for Starboard Financial Management, LLC’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 county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $5437, which was similar to those of comparable mortgages at $5249, with a difference of +$188. Overall, we estimate that Starboard Financial Management, LLC tends to be an average cost lender, with a cost-adjusted-rate difference of -0.03% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Starboard Financial Management, LLC.

Starboard Financial Management, LLC originated Conforming, FHA and VA mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Starboard Financial Management, LLC compared to other lenders

Conforming FHA VA
Interest Rate Difference -0.02% -0.16% +0.04%
Loan related Closing Cost Difference +$413 +$706 +$242
Cost Adjusted Rate Difference +0.02% -0.10% +0.06%

Based on the table above, Starboard Financial Management, LLC is cheap for FHA purchase mortgages. It is similar to other lenders for Conforming purchase mortgages. It is more expensive than other lenders for VA purchase mortgages.

Mortgage Refinancing from Starboard Financial Management, LLC compared to other lenders

Conforming
Interest Rate Difference +0.05%
Loan Related Closing Cost Difference -$1525
Cost Adjusted Rate Difference -0.09%

Based on the table above, Starboard Financial Management, LLC is cheap for Conforming mortgage refinance.

Other information about Starboard Financial Management, LLC:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: Gilbert, AZ, 85234
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Footnotes   [ + ]

1. The comparable mortgages control for Starboard Financial Management, LLC’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 county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.