True Sky Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 549300M2HFFTNLBO7R56

Tax ID: 73-0564572

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    True Sky is a smaller mortgage company specializing in Cash Out Refi and Refi loans. True Sky has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Tulsa, Stillwater, Shawnee, and Mcalester among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    True Sky has an 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 about average 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% 11/17/24
    30 Year Conventional Refi 6.50% 11/17/24
    30 Year Cash-out Refi 6.42% 11/17/24
    15 Year Conventional Purchase 5.85% 11/17/24
    15 Year Conventional Refi 6.90% 11/17/24
    15 Year Cash-out Refi 6.90% 11/17/24
    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

    391

    Origination Dollar Volume (All Markets)

    $55,115,000

    Awards

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

    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) 368 $51,670,000 $140,408 $1,958 2.91%
    TULSA, OK (FHA|USDA|VA) 7 $1,145,000 $163,571 $2,083 3.48%
    Outside of Metro Areas 6 $790,000 $131,667 $2,175 2.67%
    Stillwater, OK (FHA|USDA|VA) 3 $515,000 $171,667 $2,896 3.38%
    Shawnee, OK (FHA|USDA|VA) 2 $470,000 $235,000 $2,238 2.88%
    McAlester, OK (FHA|USDA|VA) 1 $155,000 $155,000 $3,349 3.50%
    ENID, OK (FHA|USDA|VA) 1 $105,000 $105,000 $4,465 3.63%
    Ponca City, OK (FHA|USDA|VA) 1 $105,000 $105,000 $3,650 3.38%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $95,000 $95,000 $650 2.88%
    Weatherford, OK (FHA|USDA|VA) 1 $65,000 $65,000 $710 2.38%
    True Sky's top markets include Oklahoma City, Tulsa, Stillwater, Shawnee, and Mcalester among others.

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

    Municipal Employees Credit Union of Oklahoma City
    Similarity Rank: 208
    WEOKIE
    Similarity Rank: 432
    American Bank of Oklahoma
    Similarity Rank: 459
    TTCU Federal Credit Union
    Similarity Rank: 518
    TRUE SKY
    Similarity Rank: 550
    ALLEGIANCE
    Similarity Rank: 657
    CWM PARTNERS, L.P.
    Similarity Rank: 666
    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 728
    InterBank
    Similarity Rank: 841
    US Employees O.C. Federal Credit Union
    Similarity Rank: 1222

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 391 $55,115,000 $140,959 $1,980 2.92%

    For 2021, True Sky's most frequently originated type of loan was Conventional, with 391 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 150 $22,530,000 $150,200 $2,120 2.95%
    Refi 143 $20,295,000 $141,923 $1,727 2.61%
    Home Purchase 58 $9,280,000 $160,000 $2,946 3.07%
    Other 38 $2,800,000 $73,684 $968 3.71%
    Home Improvement 2 $210,000 $105,000 $810 4.06%

    For 2021, True Sky's most frequently cited loan purpose was Cash Out Refi, with 150 originations. The 2nd most popular reason was Refi, with 143 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 167 $21,875,000 $130,988 $1,752 2.71%
    30 Year 150 $25,770,000 $171,800 $2,535 3.12%
    10 Year 40 $3,470,000 $86,750 $1,149 2.95%
    20 Year 27 $3,565,000 $132,037 $1,926 2.90%
    5 Year 7 $435,000 $62,143 $473 3.73%

    For 2021, True Sky's most frequently cited loan duration was 15 Year, with 167 originations. The 2nd most popular length was 30 Year, with 150 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 388 $54,570,000 $140,644
    $1k-2k 3 $545,000 $181,667

    True Sky's average total fees were $2,535, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 388 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 141 $19,305,000 $136,915
    2.5-3% 134 $18,840,000 $140,597
    3-4% 87 $15,075,000 $173,276
    4-5% 20 $1,350,000 $67,500
    5-6% 7 $405,000 $57,857
    6-7% 2 $140,000 $70,000

    During 2021, True Sky's average interest rate for loans was 3.12%, while their most frequently originated rate bucket for loans was <2.5%, with 141 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 176 $24,650,000 $140,057 $2,090 2.84%
    $100,000 or less 137 $8,805,000 $64,270 $1,035 3.06%
    $200k-400k 73 $19,415,000 $265,959 $3,374 2.87%
    $400k-600k 5 $2,245,000 $449,000 $3,652 2.83%

    2021 saw True Sky place emphasis on $100k-200k loans with 176 originations, totaling $24,650,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 110 $12,580,000 $114,364 $1,690 2.94%
    $100k-150k 85 $14,115,000 $166,059 $2,274 2.94%
    $50k or less 72 $6,140,000 $85,278 $1,488 2.87%
    $75k-100k 66 $9,750,000 $147,727 $1,999 2.82%
    $150k-250k 52 $10,650,000 $204,808 $2,572 3.09%
    $250k+ 6 $1,880,000 $313,333 $3,705 2.79%

    True Sky lent most frequently to those with incomes in the $50k-75k range, with 110 originations. The second most popular income band? $100k-150k, with 85 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 147 $24,175,000 $164,456 $2,164 2.82%
    <20% 70 $8,310,000 $118,714 $1,598 2.71%
    30-36% 67 $8,905,000 $132,910 $2,057 2.96%
    38% 24 $3,590,000 $149,583 $1,966 3.52%
    36% 18 $2,420,000 $134,444 $1,949 2.88%
    39% 15 $1,995,000 $133,000 $2,032 2.92%
    42% 12 $1,030,000 $85,833 $1,092 3.41%
    40% 11 $1,325,000 $120,455 $1,706 3.07%
    43% 6 $710,000 $118,333 $2,480 3.08%
    41% 5 $415,000 $83,000 $1,581 3.33%
    37% 5 $905,000 $181,000 $2,831 2.75%
    45% 4 $530,000 $132,500 $2,015 3.00%
    46% 3 $205,000 $68,333 $2,328 3.67%
    50-60% 2 $280,000 $140,000 $1,982 3.25%

    True Sky lent most frequently to those with DTI ratios of 20-30%, with 147 originations. The next most common DTI ratio? <20%, with 70 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 228 $34,200,000 $150,000 $2,088 2.99%
    White 148 $19,340,000 $130,676 $1,889 2.78%
    Black 8 $710,000 $88,750 $992 3.84%
    Asian 4 $540,000 $135,000 $1,472 2.56%
    American Indian 3 $325,000 $108,333 $1,571 2.88%

    Approval Rates

    Total approvals of all applications
    77.55%

    True Sky has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    14.32%

    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 391 $55,115,000 $140,959

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    391 $55,115,000 $140,959

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 58 $4,270,000 $73,621 $968 2.93%
    40-60% 71 $9,165,000 $129,085 $1,578 2.56%
    60-80% 172 $26,790,000 $155,756 $2,170 2.84%
    80-100% 73 $14,265,000 $195,411 $3,071 3.05%
    Under 20% 17 $625,000 $36,765 $504 4.70%