About FlagStar Bank

Flagstar Bank, headquartered in Troy, Michigan, is a growth-oriented community bank with approximately 170 banking centers in Michigan, Indiana and Georgia. Chartered in 1987 as a federal savings bank, today Flagstar has assets approaching $16 billion.
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Overall Rating

MyBankTracker rated FlagStar Bank based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank.

C+

MyBankTracker Rating

Customer Rating
Based on 35 Reviews
Financial Health
Based on Texas Ratio: 27.01
Bank Fees
vs. Average
Bank Rates
vs. Average
Number of Locations
vs. Similar Institutions
Mobile Deposits
Mobile Deposits
Mobile Banking
Quality of Mobile Services

Locations & Hours

FlagStar Bank Location Map
FlagStar Bank Location Map
We found branches close to you and 114 nationwide.
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Most Helpful Customer Reviews

Zorro45's Profile Image

Reviewed by Zorro45

Jun 20th 2012

4 out of 5 marks

I Bank Online From Out-Of-State. Mrs. Bradshaw Helped Set Accounts Up. Fantastic, Until Recently.

I live out of the area and have grandchildren in the jackson, michigan area. Mrs. Bradshaw , at the jackson main branch, helped me set up the necessary accounts for them, was incredibly professional and took the time necessary to assure everything was well. We remained in touch, until about october, 2011, when the contact ceased.

No explanation given. The online service, with an account at a brick-and-mortar bank, works quite well for me. The bank is struggling; looking at their stock price and their financial ratings indicates how bad off they are. For what i need, the bank works well. I hope they succeed. I hope the standard for customer service i initially found can be restored.

Is this review helpful? ▲ Yes 1 ▼ No 1

Nanchad's Profile Image

Reviewed by Nanchad

Mar 6th 2012

5 out of 5 marks

I Have Had My Mortgage With Flagstar Bank For The Past 3 Months. Hesitant At First, But Have Had A Great Experience.

I refinanced in December, and discovered that my new mortgage was going to be through flagstar bank. When i read the reviews i almost had a heart attack. I am very involved with my mortgage, have spreadsheets showing my payments, make multiple extra payments throughout the month, etc. I was in a panic when i read the reviews, and contacted my bank and almost had them cancel the refinance, because there is no way i could do business with a bank that had horrible reviews.

My bank reassured me that a lot of their employees had their mortgage through flagstar, and they were very happy with them. They were able to talk me into going through with my refinance. It has been 3 months now, and i am extremely happy with flagstar bank. The online options that i have to look at my mortgage are the best that i have seen. It is very easy to make extra payments as often as i want online. I had a question about my mortgage, and was hesistant to call flagstar bank (because of the horrible reviews).

I was at work, and knew that i didn't have 45 minutes to an hour to sit on the phone and wait. Once again, i was surprised! I was on hold for less than 2 minutes, and the customer service rep was very nice, knew exactly what he was talking about, and was able to explain things to me. I immediately chatted my husband and said, "i had a wonderful experience with flagstar! " as for right now, i would have to give flagstar 5 stars, and that is saying something, because 90% of the time i am never satisfied with companies and their customer service. Way to go flagstar!

Is this review helpful? ▲ Yes 1 ▼ No 0

Featherstone's Profile Image

Reviewed by Featherstone

Apr 30th 2012

5 out of 5 marks

I have my Mortgage with Flagstar and have no complaints!

So far so good. I've had my mortgage with them for 17 months and am satisfied with their service. I cannot speak about the other services they offer or any of the branch locations.

Is this review helpful? ▲ Yes 1 ▼ No 1

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Bank Rates

NAME RATE (APY) MIN TO EARN APY Min Deposit
Express Savings

0.05%

$0

$1

NAME RATE (APY) MIN TO EARN APY Min Deposit
SimplyPlus Checking

0.05%

$0

$50

TERM RATE (APY) Min Deposit
12 Month CD

0.10%

$500

18 Month CD

0.10%

$500

24 Month CD

0.10%

$500

30 Month CD

0.10%

$500

36 Month CD

0.10%

$500

48 Month CD

0.10%

$500

60 Month CD

0.10%

$500

Banking Fees

Type Fee National average
Monthly Inactivity

$50

after 3 years of no activity

$7

Non-Sufficient Fund (Overdraft)

$36

$30

Stop Payment item

$36

$27

Return Deposit

$12

$13

Domestic Wire Transfer (Outbound)

$30

$22

Domestic Wire Transfer (Inbound)

$10

$9

Non-Bank ATM

$2.50

$1