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 Grade

C+
Customer Rating
Based on 35 Reviews
Financial Health
Based on Texas Ratio: 27.01
Bank Fees
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Bank Rates
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Number of Locations
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Mobile Deposits
Mobile Deposits
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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

jonsfrustration's Profile Image

Reviewed by jonsfrustration

Jan 27th 2013

2 out of 5 marks

Customer service is awful

Refinanced online and they sold my loan to Flagstar. I have made two payment errors and have needed to call Customer Service . The first was I doubled paid my mortgage, and the second was they adjusted down my payment and I misread the month so I sent the reduced payment one month early. They called me and told me I underpaid my $1950 mortgage by $40 and they were accessing me a $79 late fee. I told them I was a good customer and had over paid every month and I was early every month. And would they please give me a courtesy "by". They would get back to me. Never did. So in both cases I called Customer Service and was hung up on by their automated 24 hour line. Hung up on. The first time I had to punch in the line for delinquent payees just to get a human. The first time I waited 1/2 hour on hold. And like I said today I got disconnected 3 times by their phone system. If you can possibly not deal with these clowns then don't . Oh how I wish I had stayed with Chase.

Is this review helpful? ▲ Yes 2 ▼ No 0

tdssarah33's Profile Image

Reviewed by tdssarah33

Jan 5th 2014

1 out of 5 marks

Flagstar screwed us.

Like many people, a year or so ago our family experienced a decrease in income. Thank goodness we had paid our mortgage on time for 9 years. So, under the fabulous HARP program - designed to help homeowners in stress to keep their homes - Flagstar began the refinance process with us. THEY LED US ON FOR MONTHS, knowing we desperately wanted to keep our home. Basically they would tell us they had everything ready, a low interest rate and a clear to close, but then they would find an excuse to drag it out another month, MONTH AFTER MONTH AFTER MONTH AFTER MONTH. After riding this emotional roller coaster ride, they finally bled us out, and we had no other option than to let the house go. This is a very DISHONEST bank, I highly recommend you steer clear of them.

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

$14

Domestic Wire Transfer (Outbound)

$30

$22

Domestic Wire Transfer (Inbound)

$10

$9

Non-Bank ATM

$2.50

$1