True Sky Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 549300M2HFFTNLBO7R56

Tax ID: 73-0564572

5 stars - Updated: 4/22/24 - out of 5 stars, based on 12 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.51% 4/22/24
30 Year Conventional Refi 6.50% 4/22/24
30 Year Cash-out Refi 6.42% 4/22/24
15 Year Conventional Purchase 5.85% 4/22/24
15 Year Conventional Refi 6.90% 4/22/24
15 Year Cash-out Refi 6.90% 4/22/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from True Sky. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

151

Origination Dollar Volume (All Markets)

$12,845,000

Awards

TRUE SKY 30 Year Conventional Loans gold TRUE SKY 30 Year Conventional Loans silver
Show all (2) awards

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%
True Sky's top markets include Oklahoma City, Tulsa, Shawnee, Mcalester, and Stillwater among others.

Their top states include:
  • Oklahoma (FHA|USDA|VA)
  • 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.

    TRUE SKY
    Similarity Rank: 144
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    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 68 $4,000,000 $58,824 $1,052 7.64%
    Home Purchase 29 $4,655,000 $160,517 $3,592 6.52%
    Refi 28 $2,050,000 $73,214 $1,012 7.63%
    Cash Out Refi 22 $1,950,000 $88,636 $1,688 7.45%
    Home Improvement 4 $190,000 $47,500 $661 8.06%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 80 $5,840,000 $73,000 $900 7.77%
    30 Year 35 $4,955,000 $141,571 $3,832 6.46%
    10 Year 30 $1,370,000 $45,667 $784 7.65%
    20 Year 3 $585,000 $195,000 $4,073 6.38%
    5 Year 3 $95,000 $31,667 $658 7.13%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 130 $9,820,000 $75,538
    $1k-2k 11 $1,535,000 $139,545
    $2k-3k 3 $505,000 $168,333
    $4k-5k 3 $385,000 $128,333
    $3k-4k 2 $360,000 $180,000
    $5k+ 2 $240,000 $120,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 109 $5,865,000 $53,807 $1,085 7.62%
    $100k-200k 32 $4,490,000 $140,313 $2,726 6.96%
    $200k-400k 10 $2,490,000 $249,000 $3,824 6.44%

    2023 saw True Sky place emphasis on $100,000 or less loans with 109 originations, totaling $5,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 44 $4,150,000 $94,318 $1,741 7.42%
    $75k-100k 34 $2,470,000 $72,647 $1,661 7.24%
    $150k-250k 32 $3,050,000 $95,313 $1,443 7.84%
    $50k-75k 26 $1,860,000 $71,538 $1,182 7.42%
    $50k or less 14 $1,170,000 $83,571 $2,366 6.69%
    $250k+ 1 $145,000 $145,000 $662 7.88%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 38 $3,710,000 $97,632 $2,183 7.21%
    30-36% 30 $2,410,000 $80,333 $1,294 7.34%
    42% 12 $890,000 $74,167 $880 7.70%
    41% 11 $895,000 $81,364 $1,718 7.50%
    37% 11 $1,095,000 $99,545 $1,866 7.31%
    38% 11 $885,000 $80,455 $1,238 7.99%
    36% 9 $605,000 $67,222 $1,054 7.50%
    39% 8 $540,000 $67,500 $937 7.28%
    40% 6 $350,000 $58,333 $688 7.94%
    <20% 4 $300,000 $75,000 $1,702 7.03%
    43% 4 $290,000 $72,500 $2,175 7.38%
    47% 2 $340,000 $170,000 $4,832 7.19%
    >60% 2 $60,000 $30,000 $606 7.63%
    44% 1 $155,000 $155,000 $4,170 6.63%
    45% 1 $135,000 $135,000 $3,903 7.50%
    46% 1 $185,000 $185,000 $2,843 6.13%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 72 $6,280,000 $87,222 $1,625 7.25%
    Not provided 61 $4,895,000 $80,246 $1,307 7.63%
    Black 8 $770,000 $96,250 $3,777 6.95%
    American Indian 7 $585,000 $83,571 $1,767 7.64%
    Native Hawaiian or Islander 1 $205,000 $205,000 $3,081 6.75%
    Asian 2 $110,000 $55,000 $689 7.44%

    Approval Rates

    Total approvals of all applications
    69.09%

    True Sky has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    49.01%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    151 $12,845,000 $85,066

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 55 $4,125,000 $75,000 $833 7.69%
    40-60% 16 $2,270,000 $141,875 $3,387 6.59%
    60-80% 13 $1,985,000 $152,692 $4,068 6.58%
    80-100% 14 $2,270,000 $162,143 $3,715 6.56%
    Under 20% 53 $2,195,000 $41,415 $734 7.78%