Bank 7 Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 5493003OO8EG0RKSFX83
Tax ID: 73-0241651
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Bank 7 is a smaller bank specializing in Home Purchase and Refi loans. Bank 7 has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Houston, Austin, Dallas, and Tahlequah among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank 7 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
143Origination Dollar Volume (All Markets)
$82,015,000Top 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) | 104 | $32,580,000 | $313,269 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 6 | $26,750,000 | $4,458,333 | $0 | 0.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $12,760,000 | $6,380,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 11 | $5,085,000 | $462,273 | $0 | 0.00% |
| Tahlequah, OK (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $0 | 0.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $0 | 0.00% |
| Woodward, OK (FHA|USDA|VA) | 4 | $620,000 | $155,000 | $0 | 0.00% |
| TULSA, OK (FHA|USDA|VA) | 5 | $605,000 | $121,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $575,000 | $575,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| Dodge City, KS (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| Weatherford, OK (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Stillwater, OK (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| LAWTON, OK (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| NILES, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 143 | $82,015,000 | $573,531 | $0 | 0.00% |
For 2023, Bank 7's most frequently originated type of loan was Conventional, with 143 originations.
Loan Reason
For 2023, Bank 7's most frequently cited loan purpose was Home Purchase, with 131 originations. The 2nd most popular reason was Refi, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 143 | $82,015,000 | $573,531 | $0 | 0.00% |
For 2023, Bank 7's most frequently cited loan duration was Other, with 143 originations.
Loan Sizing
2023 saw Bank 7 place emphasis on $200k-400k loans with 59 originations, totaling $17,605,000 in origination value.
Applicant Income
Bank 7 lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $100k-150k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 143 | $82,015,000 | $573,531 | $0 | 0.00% |
Bank 7 lent most frequently to those with DTI ratios of Exempt%, with 143 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.52%
Bank 7 has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination90.21%
Bank 7 has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 143 | $82,015,000 | $573,531 |