First Oklahoma Mortgage Rates, Fees & Info

Jenks, OK

LEI: 549300O51V8F4P0SOY08

Tax ID: 27-0411463

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
  • Complaints
  • 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

    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, Bartlesville, and Portland among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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 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 6.91% 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






    Your Estimates

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

    This is not an official calculator from First Oklahoma Mortgage. 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

    114

    Origination Dollar Volume (All Markets)

    $26,010,000
    Show all (5) 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
    TULSA, OK (FHA|USDA|VA) 104 $23,900,000 $229,808 $4,409 2.74%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 4 $650,000 $162,500 $2,920 2.69%
    Bartlesville, OK (FHA|USDA|VA) 3 $555,000 $185,000 $7,444 2.96%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $485,000 $485,000 $3,418 3.00%
    Outside of Metro Areas 2 $420,000 $210,000 $5,161 2.56%
    First Oklahoma Mortgage's top markets include Tulsa, Oklahoma City, Bartlesville, and Portland among others.

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

    • 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.

    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 280
    RED CROWN
    Similarity Rank: 360
    OKLAHOMA CENTRAL Credit Union
    Similarity Rank: 450
    First Oklahoma Mortgage, LLC
    Similarity Rank: 540
    Tulsa Federal Credit Union
    Similarity Rank: 950
    TTCU Federal Credit Union
    Similarity Rank: 980
    SpiritBank
    Similarity Rank: 1120
    Truity Federal Credit Union
    Similarity Rank: 1365
    Mabrey Bank
    Similarity Rank: 1995
    Firstar Bank
    Similarity Rank: 2187

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 88 $19,580,000 $222,500 $3,658 2.75%
    VA 14 $4,280,000 $305,714 $7,158 2.79%
    FHA 12 $2,150,000 $179,167 $7,012 2.66%

    For 2021, First Oklahoma Mortgage's most frequently originated type of loan was Conventional, with 88 originations. Their 2nd most popular type was VA, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 51 $11,525,000 $225,980 $5,270 2.81%
    Refi 46 $10,240,000 $222,609 $3,769 2.65%
    Cash Out Refi 16 $4,090,000 $255,625 $3,804 2.73%
    Other 1 $155,000 $155,000 $3,251 3.75%

    For 2021, First Oklahoma Mortgage's most frequently cited loan purpose was Home Purchase, with 51 originations. The 2nd most popular reason was Refi, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 83 $20,245,000 $243,916 $4,757 2.82%
    15 Year 23 $4,555,000 $198,043 $3,714 2.47%
    Other 4 $650,000 $162,500 $3,004 2.72%
    20 Year 3 $435,000 $145,000 $3,527 2.71%
    10 Year 1 $125,000 $125,000 $3,428 2.25%

    For 2021, First Oklahoma Mortgage's most frequently cited loan duration was 30 Year, with 83 originations. The 2nd most popular length was 15 Year, with 23 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 106 $24,130,000 $227,642
    $2k-3k 6 $1,250,000 $208,333
    $3k-4k 2 $630,000 $315,000

    First Oklahoma Mortgage's average total fees were $4,757, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 106 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 69 $17,055,000 $247,174
    <2.5% 33 $6,235,000 $188,939
    3-4% 12 $2,720,000 $226,667

    During 2021, First Oklahoma Mortgage's average interest rate for loans was 2.82%, while their most frequently originated rate bucket for loans was 2.5-3%, with 69 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 55 $8,325,000 $151,364 $4,052 2.70%
    $200k-400k 36 $9,970,000 $276,944 $5,371 2.76%
    $400k-600k 15 $7,045,000 $469,667 $4,194 2.81%
    $100,000 or less 8 $670,000 $83,750 $3,391 2.84%

    2021 saw First Oklahoma Mortgage place emphasis on $100k-200k loans with 55 originations, totaling $8,325,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 27 $4,945,000 $183,148 $4,067 2.75%
    $50k or less 24 $3,430,000 $142,917 $4,481 2.81%
    $100k-150k 20 $5,370,000 $268,500 $4,706 2.72%
    $75k-100k 18 $3,830,000 $212,778 $5,083 2.72%
    $150k-250k 17 $5,545,000 $326,176 $4,143 2.69%
    $250k+ 8 $2,890,000 $361,250 $4,108 2.73%

    First Oklahoma Mortgage lent most frequently to those with incomes in the $50k-75k range, with 27 originations. The second most popular income band? $50k or less, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 40 $9,710,000 $242,750 $4,120 2.72%
    30-36% 16 $3,120,000 $195,000 $4,602 2.70%
    <20% 9 $1,645,000 $182,778 $3,578 2.53%
    39% 8 $1,930,000 $241,250 $5,228 2.72%
    38% 6 $1,760,000 $293,333 $3,982 2.85%
    46% 5 $1,115,000 $223,000 $5,627 2.75%
    40% 5 $1,265,000 $253,000 $5,056 2.80%
    37% 4 $760,000 $190,000 $4,772 2.84%
    41% 4 $590,000 $147,500 $4,770 2.59%
    50-60% 3 $835,000 $278,333 $5,378 2.79%
    47% 2 $370,000 $185,000 $6,004 2.94%
    36% 2 $640,000 $320,000 $4,268 2.56%
    44% 2 $360,000 $180,000 $4,696 3.31%
    45% 2 $390,000 $195,000 $3,378 2.94%
    48% 2 $290,000 $145,000 $5,101 2.63%
    >60% 1 $455,000 $455,000 $4,066 2.75%
    42% 1 $495,000 $495,000 $4,574 3.25%
    43% 1 $105,000 $105,000 $4,069 3.38%
    49% 1 $175,000 $175,000 $2,607 3.00%

    First Oklahoma Mortgage lent most frequently to those with DTI ratios of 20-30%, with 40 originations. The next most common DTI ratio? 30-36%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 92 $22,050,000 $239,674 $4,437 2.76%
    Not provided 8 $1,540,000 $192,500 $4,769 2.59%
    American Indian 8 $990,000 $123,750 $3,833 2.67%
    Black 3 $985,000 $328,333 $3,811 2.83%
    Asian 3 $445,000 $148,333 $5,931 2.79%

    Approval Rates

    Total approvals of all applications
    82.63%

    First Oklahoma Mortgage has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    -42.11%

    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 114 $26,010,000 $228,158

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    114 $26,010,000 $228,158

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $815,000 $163,000 $3,480 2.70%
    40-60% 25 $5,285,000 $211,400 $3,467 2.66%
    60-80% 37 $8,575,000 $231,757 $3,651 2.77%
    80-100% 43 $10,345,000 $240,581 $5,178 2.76%
    Over 100% 3 $925,000 $308,333 $13,685 2.79%
    Under 20% 1 $65,000 $65,000 $3,393 2.63%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    FIRST MORTGAGE COMPANY Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
    FIRST MORTGAGE COMPANY Conventional home mortgage Trouble during payment process 5 83.3%