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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Customer Reviews

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

Ashleypong's Profile Image

Reviewed by Ashleypong

Jul 29th 2011

2 out of 5 marks

Do Not Use Flagstar To Get A Mortgage - They Suck Big Time!

If anyone suggests to use flagstar as your mortgage company - run as fast as you can. They are a nightmare! We may lose a deal on a property we are purchasing bec they are taking too long to approve the loan - it has been more than 6 weeks since we started the paperwork with flagstar and we are no closer to closing the deal than when we first started. They are very disorganized and keep asking for the same documents over and over again. It seems like every day, they ask for something else that they are missing.

This is very frustrating -- they should ask for ev erything at the same time. After dealing with our attny for 6 weeks, now they are asking for the attny to submit an application to be considered as a fha attny. Our attny as been in business for over 30 years. Why didn't they ask for this 6 weeks ago! Your guess is as good as mine! Also, they want proof of insurance on the property we are buying - but they refuse to give us a closing date so we can buy the insurance. How are we supposed to buy insurance on a place when we don't own it yet?

Our insurance rep has called them numerous times and they waived this requirement verbally. Then, the next day they send an email requesting the insurance verficiation. Are they people stupid or just morons? We've already asked the seller to give us 4 extensions dates because flagstar is taking too long to give us a closing date. Now, they won't give us anymore extensions and we will probably lose this deal bec the deadline is today. And, we still haven't gotten any word from flagstar! I'm sure now we will have to find another place to buy and you bet we will not use flagstar again and we will tell everyone we can not use them either.

I repeat -- do not use flagstar -- they suck!!!! A monkey in a business suit can do a better job than the people they currently have working for them.

Is this review helpful? ▲ Yes 2 ▼ No 0

Williams's Profile Image

Reviewed by Williams

Dec 10th 2012

1 out of 5 marks

Incompetent Worthless Moronic Idiots

This bank is the worst in all my 50 years of dealing with not only banks but any business. Please do yourself a favor and stay far away from these idiots. I do not see how something run this poorly and incompetent can still be in business. I wish they would hurry up and go bankrupt.

Is this review helpful? ▲ Yes 2 ▼ No 0

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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