Security State Bank Of Oklahoma Mortgage Rates, Fees & Info

Wewoka, OK

LEI: 254900F2SLKQJKV0PA12

Tax ID: 73-0440430

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Security State Bank Of Oklahoma is a smaller bank specializing in Home Purchase and Refi loans. Security State Bank Of Oklahoma has a high proportion of conventional loans. Their top markets by origination volume include: Tulsa, Oklahoma City, Shawnee, and Ada among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Security State Bank Of Oklahoma has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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    Originations

    89

    Origination Dollar Volume (All Markets)

    $8,085,000

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    Outside of Metro Areas 73 $6,055,000 $82,945 $1,815 5.85%
    TULSA, OK (FHA|USDA|VA) 7 $855,000 $122,143 $2,134 5.82%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 3 $735,000 $245,000 $2,120 5.50%
    Shawnee, OK (FHA|USDA|VA) 3 $265,000 $88,333 $1,920 5.83%
    Ada, OK (FHA|USDA|VA) 3 $175,000 $58,333 $1,713 5.92%
    Security State Bank Of Oklahoma's top markets include Tulsa, Oklahoma City, Shawnee, and Ada among others.

    Their top states include:
  • Oklahoma (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 89 $8,085,000 $90,843 $1,854 5.83%

    For 2018, Security State Bank Of Oklahoma's most frequently originated type of loan was Conventional, with 89 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 49 $4,065,000 $82,959 $1,980 5.84%
    Refi 27 $3,175,000 $117,593 $1,938 5.73%
    Home Improvement 6 $340,000 $56,667 $1,352 6.17%
    Cash Out Refi 5 $345,000 $69,000 $1,415 6.00%
    Other 2 $160,000 $80,000 $1,525 5.63%

    For 2018, Security State Bank Of Oklahoma's most frequently cited loan purpose was Home Purchase, with 49 originations. The 2nd most popular reason was Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 42 $4,150,000 $98,810 $1,784 5.71%
    15 Year 13 $1,085,000 $83,462 $1,655 6.08%
    10 Year 13 $1,265,000 $97,308 $4,599 5.79%
    Other 11 $945,000 $85,909 $1,789 5.80%
    1 Year 5 $415,000 $83,000 $2,515 6.05%
    5 Year 4 $180,000 $45,000 $1,108 6.38%
    3 Year 1 $45,000 $45,000 $484 5.50%

    For 2018, Security State Bank Of Oklahoma's most frequently cited loan duration was 20 Year, with 42 originations. The 2nd most popular length was 15 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 31 $1,875,000 $60,484
    $1k-2k 13 $1,825,000 $140,385
    $2k-3k 1 $245,000 $245,000
    $5k+ 1 $615,000 $615,000

    Security State Bank Of Oklahoma's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 31 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 60 $5,190,000 $86,500
    6-7% 17 $1,155,000 $67,941
    4-5% 9 $1,685,000 $187,222
    7-8% 2 $40,000 $20,000
    Over 8% 1 $15,000 $15,000

    During 2018, Security State Bank Of Oklahoma's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 60 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 60 $2,970,000 $49,500 $1,527 5.98%
    $100k-200k 23 $3,055,000 $132,826 $2,023 5.60%
    $200k-400k 4 $1,030,000 $257,500 $2,526 5.38%
    $400k-600k 1 $415,000 $415,000 $0 5.50%
    $600k-1MM 1 $615,000 $615,000 $7,612 5.00%

    2018 saw Security State Bank Of Oklahoma place emphasis on $100,000 or less loans with 60 originations, totaling $2,970,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 20 $960,000 $48,000 $1,487 5.85%
    $75k-100k 20 $2,150,000 $107,500 $1,932 5.73%
    $50k-75k 12 $600,000 $50,000 $1,513 6.48%
    $100k-150k 9 $945,000 $105,000 $1,474 5.67%
    $150k-250k 6 $970,000 $161,667 $2,816 5.63%
    $250k+ 4 $1,240,000 $310,000 $7,612 5.25%

    Security State Bank Of Oklahoma lent most frequently to those with incomes in the $50k or less range, with 20 originations. The second most popular income band? $75k-100k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 26 $2,210,000 $85,000 $1,769 5.83%
    30-36% 18 $1,870,000 $103,889 $2,395 5.78%
    <20% 14 $1,230,000 $87,857 $1,705 6.07%
    40% 3 $155,000 $51,667 $1,047 6.08%
    37% 3 $185,000 $61,667 $1,467 5.50%
    36% 2 $80,000 $40,000 $1,505 5.75%
    39% 2 $240,000 $120,000 $1,753 5.50%
    50-60% 2 $310,000 $155,000 $1,633 5.50%
    >60% 1 $415,000 $415,000 $0 5.50%
    38% 1 $215,000 $215,000 $0 5.50%

    Security State Bank Of Oklahoma lent most frequently to those with DTI ratios of 20-30%, with 26 originations. The next most common DTI ratio? 30-36%, with 18 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 62 $6,460,000 $104,194 $1,896 5.80%
    Not applicable 16 $1,150,000 $71,875 $0 5.84%
    American Indian 9 $385,000 $42,778 $1,457 6.00%
    Black 2 $90,000 $45,000 $2,235 6.00%

    Approval Rates

    Total approvals of all applications
    90.57%

    Security State Bank Of Oklahoma has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.26%

    Security State Bank Of Oklahoma has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 89 $8,085,000 $90,843

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $165,000 $165,000
    Single Family (1-4 Units):Manufactured 11 $645,000 $58,636
    Single Family (1-4 Units):Site-Built 77 $7,275,000 $94,481

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $405,000 $57,857 $1,289 5.93%
    40-60% 9 $595,000 $66,111 $1,106 6.19%
    60-80% 31 $2,605,000 $84,032 $1,757 5.87%
    80-100% 39 $4,325,000 $110,897 $2,114 5.69%
    Over 100% 3 $155,000 $51,667 $2,787 6.08%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Security National Financial Corp Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    Security National Financial Corp Conventional home mortgage Trouble during payment process 3 60.0%
    Security National Financial Corp VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%