First Oklahoma Mortgage Rates, Fees & Info
Jenks, OKLEI: 549300O51V8F4P0SOY08
Tax ID: 27-0411463
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Mortgage Data
Review & Overview
First Oklahoma Mortgage is a smaller mortgage company specializing in Refi loans. First Oklahoma Mortgage has a high proportion of conventional loans. Their top (well, only) market is Tulsa.First Oklahoma Mortgage 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. First Oklahoma Mortgage is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.91% | 11/17/24 |
| 30 Year Conventional Refi | 6.46% | 11/17/24 |
| 30 Year Cash-out Refi | 6.86% | 11/17/24 |
| 30 Year FHA Purchase | 7.10% | 11/17/24 |
| 30 Year FHA Refi | 6.27% | 11/17/24 |
| 30 Year VA Purchase | 6.27% | 11/17/24 |
| 30 Year VA Refi | 6.36% | 11/17/24 |
| 15 Year Conventional Purchase | 6.83% | 11/17/24 |
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 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. | ||
First Oklahoma Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1Origination Dollar Volume (All Markets)
$125,000Relative Rate
First Oklahoma Mortgage's average 30 year fixed mortgage rate was
6.25%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.23%.
Relative Fees (Closing Costs)
First Oklahoma Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,245.
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 |
|---|---|---|---|---|---|
| TULSA, OK (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,245 | 6.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against First Oklahoma Mortgage based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 133
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Similarity Rank: 1325
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1 | $125,000 | $125,000 | $5,245 | 6.25% |
For 2023, First Oklahoma Mortgage's most frequently originated type of loan was Conventional, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 1 | $125,000 | $125,000 | $5,245 | 6.25% |
For 2023, First Oklahoma Mortgage's most frequently cited loan purpose was Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1 | $125,000 | $125,000 | $5,245 | 6.25% |
For 2023, First Oklahoma Mortgage's most frequently cited loan duration was 30 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $2k-3k | 1 | $125,000 | $125,000 |
First Oklahoma Mortgage's average total fees were $5,245, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 1 | $125,000 | $125,000 |
During 2023, First Oklahoma Mortgage's average interest rate for loans was 6.25%, while their most frequently originated rate bucket for loans was 6-7%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 1 | $125,000 | $125,000 | $5,245 | 6.25% |
2023 saw First Oklahoma Mortgage place emphasis on $100k-200k loans with 1 originations, totaling $125,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 1 | $125,000 | $125,000 | $5,245 | 6.25% |
First Oklahoma Mortgage lent most frequently to those with incomes in the $50k or less range, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 37% | 1 | $125,000 | $125,000 | $5,245 | 6.25% |
First Oklahoma Mortgage lent most frequently to those with DTI ratios of 37%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1 | $125,000 | $125,000 | $5,245 | 6.25% |
Approval Rates
Total approvals of all applications87.50%
First Oklahoma Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination-1,900.00%
First Oklahoma Mortgage 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 | 1 | $125,000 | $125,000 |