Bank 7 Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 5493003OO8EG0RKSFX83
Tax ID: 73-0241651
Latest/2024 | 2023 Data | 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, Dallas, Tulsa, and Alexander City among others. We have data for 14 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
152Origination Dollar Volume (All Markets)
$45,900,000Top 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) | 121 | $31,985,000 | $264,339 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $2,940,000 | $1,470,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 9 | $2,895,000 | $321,667 | $0 | 0.00% |
| TULSA, OK (FHA|USDA|VA) | 4 | $2,760,000 | $690,000 | $0 | 0.00% |
| Alexander City, AL (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $0 | 0.00% |
| Outside of Metro Areas | 5 | $765,000 | $153,000 | $0 | 0.00% |
| McAlester, OK (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $0 | 0.00% |
| WACO, TX (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $0 | 0.00% |
| Shawnee, OK (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| Stillwater, OK (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Woodward, OK (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 152 | $45,900,000 | $301,974 | $0 | 0.00% |
For 2024, Bank 7's most frequently originated type of loan was Conventional, with 152 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 95 | $26,165,000 | $275,421 | $0 | 0.00% |
| Refi | 54 | $19,180,000 | $355,185 | $0 | 0.00% |
| Home Improvement | 3 | $555,000 | $185,000 | $0 | 0.00% |
For 2024, Bank 7's most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Refi, with 54 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 152 | $45,900,000 | $301,974 | $0 | 0.00% |
For 2024, Bank 7's most frequently cited loan duration was Other, with 152 originations.
Loan Sizing
2024 saw Bank 7 place emphasis on $100k-200k loans with 53 originations, totaling $7,275,000 in origination value.
Applicant Income
Bank 7 lent most frequently to those with incomes in the $250k+ range, with 3 originations. The second most popular income band? $50k-75k, with 2 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 152 | $45,900,000 | $301,974 | $0 | 0.00% |
Bank 7 lent most frequently to those with DTI ratios of Exempt%, with 152 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.38%
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 origination91.45%
Bank 7 has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 152 | $45,900,000 | $301,974 |