Security State Bank Of Oklahoma Mortgage Rates, Fees & Info
Wewoka, OKLEI: 254900F2SLKQJKV0PA12
Tax ID: 73-0440430
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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: Oklahoma City, Shawnee, Tulsa, and Mcalester 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 a below average pick rate when compared to similar lenders.
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Originations
84Origination Dollar Volume (All Markets)
$7,140,000Top 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 | 65 | $4,735,000 | $72,846 | $2,021 | 6.30% |
OKLAHOMA CITY, OK (FHA|USDA|VA) | 7 | $1,665,000 | $237,857 | $2,123 | 6.21% |
Shawnee, OK (FHA|USDA|VA) | 7 | $565,000 | $80,714 | $2,111 | 6.39% |
TULSA, OK (FHA|USDA|VA) | 4 | $150,000 | $37,500 | $2,178 | 5.88% |
McAlester, OK (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $2,346 | 5.75% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 84 | $7,140,000 | $85,000 | $2,052 | 6.27% |
For 2019, Security State Bank Of Oklahoma's most frequently originated type of loan was Conventional, with 84 originations.
Loan Reason
For 2019, Security State Bank Of Oklahoma's most frequently cited loan purpose was Home Purchase, with 34 originations. The 2nd most popular reason was Refi, with 32 originations.
Loan Duration/Length
For 2019, 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 16 originations.
Origination Fees/Closing Costs
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 40 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 41 | $2,785,000 | $67,927 |
5-6% | 34 | $3,800,000 | $111,765 |
7-8% | 5 | $325,000 | $65,000 |
4-5% | 3 | $205,000 | $68,333 |
During 2019, Security State Bank Of Oklahoma's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 41 originations.
Loan Sizing
2019 saw Security State Bank Of Oklahoma place emphasis on $100,000 or less loans with 62 originations, totaling $2,750,000 in origination value.
Applicant Income
Security State Bank Of Oklahoma lent most frequently to those with incomes in the $50k or less range, with 26 originations. The second most popular income band? $100k-150k, with 12 originations.
Applicant Debt to Income Ratio
Security State Bank Of Oklahoma lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? <20%, with 18 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.04%
Security State Bank Of Oklahoma has an average approval rate.
Pick Rate
Approvals leading to origination79.76%
Security State Bank Of Oklahoma has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 84 | $7,140,000 | $85,000 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Single Family (1-4 Units):Manufactured | 10 | $550,000 | $55,000 |
Single Family (1-4 Units):Site-Built | 74 | $6,590,000 | $89,054 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
Security National Financial Corp | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
Security National Financial Corp | Other type of mortgage | Trouble during payment process | 1 | 33.3% |
Security National Financial Corp | VA mortgage | Closing on a mortgage | 1 | 33.3% |