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 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.
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Originations
1Origination Dollar Volume (All Markets)
$125,000Top 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) | 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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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 |