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 loans. Bank 7 has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Dallas, Houston, Naples, and Indianapolis among others. We have data for 12 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 a below average pick rate when compared to similar lenders.
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Originations
148Origination Dollar Volume (All Markets)
$81,220,000Top 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) | 98 | $53,930,000 | $550,306 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 16 | $9,800,000 | $612,500 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 7 | $9,235,000 | $1,319,286 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $2,000,000 | $333,333 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $1,285,000 | $1,285,000 | $0 | 0.00% |
| TULSA, OK (FHA|USDA|VA) | 8 | $810,000 | $101,250 | $0 | 0.00% |
| Tahlequah, OK (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $0 | 0.00% |
| Stillwater, OK (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $0 | 0.00% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| Woodward, OK (FHA|USDA|VA) | 4 | $350,000 | $87,500 | $0 | 0.00% |
| Shawnee, OK (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 148 | $81,220,000 | $548,784 | $0 | 0.00% |
For 2022, Bank 7's most frequently originated type of loan was Conventional, with 148 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 128 | $67,880,000 | $530,313 | $0 | 0.00% |
| Refi | 18 | $13,140,000 | $730,000 | $0 | 0.00% |
| Home Improvement | 2 | $200,000 | $100,000 | $0 | 0.00% |
For 2022, Bank 7's most frequently cited loan purpose was Home Purchase, with 128 originations. The 2nd most popular reason was Refi, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 148 | $81,220,000 | $548,784 | $0 | 0.00% |
For 2022, Bank 7's most frequently cited loan duration was Other, with 148 originations.
Loan Sizing
2022 saw Bank 7 place emphasis on $100k-200k loans with 49 originations, totaling $6,895,000 in origination value.
Applicant Income
Bank 7 lent most frequently to those with incomes in the $50k-75k range, with 3 originations. The second most popular income band? $150k-250k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 148 | $81,220,000 | $548,784 | $0 | 0.00% |
Bank 7 lent most frequently to those with DTI ratios of Exempt%, with 148 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.12%
Bank 7 has an average approval rate.
Pick Rate
Approvals leading to origination81.76%
Bank 7 has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 148 | $81,220,000 | $548,784 |