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 Home Purchase and Refi loans. First Oklahoma Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Tulsa, Oklahoma City, Muskogee, Stillwater, and Longview among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)First Oklahoma Mortgage 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.
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 | 6.91% | 5/4/24 |
| 30 Year Conventional Refi | 6.46% | 5/4/24 |
| 30 Year Cash-out Refi | 6.86% | 5/4/24 |
| 30 Year FHA Purchase | 7.10% | 5/4/24 |
| 30 Year FHA Refi | 6.27% | 5/4/24 |
| 30 Year VA Purchase | 6.27% | 5/4/24 |
| 30 Year VA Refi | 6.36% | 5/4/24 |
| 15 Year Conventional Purchase | 6.83% | 5/4/24 |
| 15 Year Conventional Refi | 5.68% | 5/4/24 |
| 15 Year Cash-out Refi | 5.68% | 5/4/24 |
| 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
115Origination Dollar Volume (All Markets)
$22,585,000Top 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 |
|---|---|---|---|---|---|
| TULSA, OK (FHA|USDA|VA) | 107 | $21,475,000 | $200,701 | $0 | 0.00% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 4 | $670,000 | $167,500 | $0 | 0.00% |
| Muskogee, OK (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Stillwater, OK (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 86 | $15,810,000 | $183,837 | $0 | 0.00% |
| FHA | 15 | $2,695,000 | $179,667 | $0 | 0.00% |
| VA | 14 | $4,080,000 | $291,429 | $0 | 0.00% |
For 2019, First Oklahoma Mortgage's most frequently originated type of loan was Conventional, with 86 originations. Their 2nd most popular type was FHA, with 15 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 90 | $16,460,000 | $182,889 | $0 | 0.00% |
| Refi | 25 | $6,125,000 | $245,000 | $0 | 0.00% |
For 2019, First Oklahoma Mortgage's most frequently cited loan purpose was Home Purchase, with 90 originations. The 2nd most popular reason was Refi, with 25 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 115 | $22,585,000 | $196,391 | $0 | 0.00% |
For 2019, First Oklahoma Mortgage's most frequently cited loan duration was Other, with 115 originations.
Loan Sizing
2019 saw First Oklahoma Mortgage place emphasis on $100k-200k loans with 57 originations, totaling $8,745,000 in origination value.
Applicant Income
First Oklahoma Mortgage lent most frequently to those with incomes in the $100k-150k range, with 27 originations. The second most popular income band? $75k-100k, with 27 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 115 | $22,585,000 | $196,391 | $0 | 0.00% |
First Oklahoma Mortgage lent most frequently to those with DTI ratios of Exempt%, with 115 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.00%
First Oklahoma Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination40.00%
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 |
|---|---|---|---|
| Exempt | 115 | $22,585,000 | $196,391 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 115 | $22,585,000 | $196,391 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRSTRUST MORTGAGE, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |