Frontier State Bank Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 5493000W1FD1FMQ03060
Tax ID: 73-0972908
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Mortgage Data
Review & Overview
Frontier State Bank is a smaller bank specializing in Refi and Home Purchase loans. Frontier State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, North Port, and Tulsa among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Frontier State Bank 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. Frontier State Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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Originations
76Origination Dollar Volume (All Markets)
$12,290,000Top 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 |
|---|---|---|---|---|---|
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 74 | $11,980,000 | $161,892 | $2,815 | 5.01% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 5.00% |
| TULSA, OK (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 76 | $12,290,000 | $161,711 | $2,815 | 5.02% |
For 2019, Frontier State Bank's most frequently originated type of loan was Conventional, with 76 originations.
Loan Reason
For 2019, Frontier State Bank's most frequently cited loan purpose was Refi, with 54 originations. The 2nd most popular reason was Home Purchase, with 18 originations.
Loan Duration/Length
For 2019, Frontier State Bank's most frequently cited loan duration was 5 Year, with 65 originations. The 2nd most popular length was Other, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2 | $310,000 | $155,000 |
| $1k-2k | 2 | $550,000 | $275,000 |
Frontier State Bank's average total fees were $3,349, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 55 | $7,775,000 | $141,364 |
| 5-6% | 19 | $4,385,000 | $230,789 |
| 6-7% | 1 | $105,000 | $105,000 |
| 7-8% | 1 | $25,000 | $25,000 |
During 2019, Frontier State Bank's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 4-5%, with 55 originations.
Loan Sizing
2019 saw Frontier State Bank place emphasis on $100k-200k loans with 48 originations, totaling $6,910,000 in origination value.
Applicant Income
Frontier State Bank lent most frequently to those with incomes in the $75k-100k range, with 3 originations. The second most popular income band? $150k-250k, with 2 originations.
Applicant Debt to Income Ratio
Frontier State Bank lent most frequently to those with DTI ratios of <20%, with 1 originations. The next most common DTI ratio? 20-30%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 67 | $10,705,000 | $159,776 | $0 | 5.01% |
| White | 9 | $1,585,000 | $176,111 | $2,815 | 5.11% |
Approval Rates
Total approvals of all applications95.35%
Frontier State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination92.11%
Frontier State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 76 | $12,290,000 | $161,711 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Fairway Independent Mortgage Corporation | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 6 | 28.6% |
| Fairway Independent Mortgage Corporation | Conventional home mortgage | Closing on a mortgage | 4 | 19.0% |
| Fairway Independent Mortgage Corporation | Conventional home mortgage | Struggling to pay mortgage | 1 | 4.8% |
| Fairway Independent Mortgage Corporation | Conventional home mortgage | Trouble during payment process | 4 | 19.0% |
| Fairway Independent Mortgage Corporation | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 14.3% |
| Fairway Independent Mortgage Corporation | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 9.5% |
| Fairway Independent Mortgage Corporation | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 4.8% |