True Sky Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 549300M2HFFTNLBO7R56
Tax ID: 73-0564572
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Mortgage Data
Review & Overview
True Sky is a smaller mortgage company specializing in Other and Home Purchase loans. True Sky has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Tulsa, Shawnee, Mcalester, and Stillwater among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)True Sky has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. True Sky 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 relatively high rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.51% | 10/29/24 |
| 30 Year Conventional Refi | 6.50% | 10/29/24 |
| 30 Year Cash-out Refi | 6.42% | 10/29/24 |
| 15 Year Conventional Purchase | 5.85% | 10/29/24 |
| 15 Year Conventional Refi | 6.90% | 10/29/24 |
| 15 Year Cash-out Refi | 6.90% | 10/29/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
True Sky Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
151Origination Dollar Volume (All Markets)
$12,845,000Awards
TRUE SKY - 2023
TRUE SKY is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
True Sky's average 30 year fixed mortgage rate was
6.46%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.02%.
Relative Fees (Closing Costs)
True Sky's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,832.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
Top 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) | 141 | $12,095,000 | $85,780 | $1,553 | 7.40% |
| Outside of Metro Areas | 5 | $455,000 | $91,000 | $3,621 | 7.35% |
| TULSA, OK (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $2,313 | 7.00% |
| Shawnee, OK (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $746 | 8.75% |
| McAlester, OK (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $656 | 7.63% |
| Stillwater, OK (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $676 | 7.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against TRUE SKY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 144
Similarity Rank: 154
Similarity Rank: 216
Similarity Rank: 220
Similarity Rank: 335
Similarity Rank: 396
Similarity Rank: 576
Similarity Rank: 864
Similarity Rank: 867
Similarity Rank: 1020
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 151 | $12,845,000 | $85,066 | $1,615 | 7.40% |
For 2023, True Sky's most frequently originated type of loan was Conventional, with 151 originations.
Loan Reason
For 2023, True Sky's most frequently cited loan purpose was Other, with 68 originations. The 2nd most popular reason was Home Purchase, with 29 originations.
Loan Duration/Length
For 2023, True Sky's most frequently cited loan duration was 15 Year, with 80 originations. The 2nd most popular length was 30 Year, with 35 originations.
Origination Fees/Closing Costs
True Sky's average total fees were $3,832, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 130 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 69 | $4,445,000 | $64,420 |
| 6-7% | 37 | $4,895,000 | $132,297 |
| Over 8% | 33 | $2,025,000 | $61,364 |
| 5-6% | 12 | $1,480,000 | $123,333 |
During 2023, True Sky's average interest rate for loans was 6.46%, while their most frequently originated rate bucket for loans was 7-8%, with 69 originations.
Loan Sizing
2023 saw True Sky place emphasis on $100,000 or less loans with 109 originations, totaling $5,865,000 in origination value.
Applicant Income
True Sky lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $75k-100k, with 34 originations.
Applicant Debt to Income Ratio
True Sky lent most frequently to those with DTI ratios of 20-30%, with 38 originations. The next most common DTI ratio? 30-36%, with 30 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications69.09%
True Sky has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination49.01%
True Sky has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 151 | $12,845,000 | $85,066 |