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 and Home Purchase loans. First Oklahoma Mortgage has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Tulsa, Oklahoma City, Denver, Bartlesville, and Kansas City among others. We have data for 13 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
355Origination Dollar Volume (All Markets)
$87,325,000Top 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) | 327 | $79,615,000 | $243,471 | $0 | 0.00% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 7 | $1,815,000 | $259,286 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $1,490,000 | $248,333 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $1,375,000 | $458,333 | $0 | 0.00% |
| Bartlesville, OK (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| McAlester, OK (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| Stillwater, OK (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Muskogee, OK (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Tahlequah, OK (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $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 | 312 | $78,370,000 | $251,186 | $0 | 0.00% |
| FHA | 25 | $4,355,000 | $174,200 | $0 | 0.00% |
| VA | 18 | $4,600,000 | $255,556 | $0 | 0.00% |
For 2020, First Oklahoma Mortgage's most frequently originated type of loan was Conventional, with 312 originations. Their 2nd most popular type was FHA, with 25 originations.
Loan Reason
For 2020, First Oklahoma Mortgage's most frequently cited loan purpose was Refi, with 187 originations. The 2nd most popular reason was Home Purchase, with 122 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 355 | $87,325,000 | $245,986 | $0 | 0.00% |
For 2020, First Oklahoma Mortgage's most frequently cited loan duration was Other, with 355 originations.
Loan Sizing
2020 saw First Oklahoma Mortgage place emphasis on $200k-400k loans with 170 originations, totaling $48,280,000 in origination value.
Applicant Income
First Oklahoma Mortgage lent most frequently to those with incomes in the $100k-150k range, with 85 originations. The second most popular income band? $50k-75k, with 74 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 355 | $87,325,000 | $245,986 | $0 | 0.00% |
First Oklahoma Mortgage lent most frequently to those with DTI ratios of Exempt%, with 355 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.07%
First Oklahoma Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination62.25%
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 | 355 | $87,325,000 | $245,986 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 355 | $87,325,000 | $245,986 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRSTRUST MORTGAGE, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 50.0% |
| FIRSTRUST MORTGAGE, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |