Vision Bank Mortgage Rates, Fees & Info

Ada, OK

LEI: 549300SNAY3J7NZEU618

Tax ID: 73-0120518

5 stars - Updated: 12/16/24 - out of 5 stars, based on 18 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Vision Bank is a smaller bank specializing in Home Purchase loans. Vision Bank has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Ada, Durant, Shawnee, and Dallas among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Vision Bank 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. Vision Bank 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 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.

    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 6.72% 12/16/24
    30 Year Conventional Refi 6.82% 12/16/24
    30 Year Cash-out Refi 6.86% 12/16/24
    15 Year Conventional Purchase 6.59% 12/16/24
    15 Year Conventional Refi 6.90% 12/16/24
    15 Year Cash-out Refi 6.90% 12/16/24
    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.

    Vision Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Vision Bank. 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

    326

    Origination Dollar Volume (All Markets)

    $77,050,000
    Show all (7) awards

    Relative Rate

    Vision Bank's average 30 year fixed mortgage rate was 6.6%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.12%.

    Relative Fees (Closing Costs)

    Vision Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,981.

    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
    OKLAHOMA CITY, OK (FHA|USDA|VA) 86 $26,120,000 $303,721 $2,608 7.05%
    Outside of Metro Areas 78 $14,360,000 $184,103 $2,478 7.02%
    Ada, OK (FHA|USDA|VA) 76 $13,830,000 $181,974 $2,559 7.15%
    Durant, OK (FHA|USDA|VA) 28 $7,580,000 $270,714 $2,280 7.23%
    Shawnee, OK (FHA|USDA|VA) 38 $6,810,000 $179,211 $2,795 7.52%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 4 $5,800,000 $1,450,000 $0 8.30%
    Ardmore, OK (FHA|USDA|VA) 4 $590,000 $147,500 $2,885 6.78%
    TULSA, OK (FHA|USDA|VA) 2 $590,000 $295,000 $3,609 6.32%
    McAlester, OK (FHA|USDA|VA) 3 $445,000 $148,333 $4,101 7.42%
    ENID, OK (FHA|USDA|VA) 2 $410,000 $205,000 $2,475 6.44%
    LAWTON, OK (FHA|USDA|VA) 1 $165,000 $165,000 $0 8.25%
    Stillwater, OK (FHA|USDA|VA) 1 $155,000 $155,000 $0 8.75%
    Duncan, OK (FHA|USDA|VA) 2 $150,000 $75,000 $576 7.70%
    Tahlequah, OK (FHA|USDA|VA) 1 $45,000 $45,000 $2,468 8.63%
    Vision Bank's top markets include Oklahoma City, Ada, Durant, Shawnee, and Dallas among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Vision Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    TRUE SKY
    Similarity Rank: 144
    RCB Bank
    Similarity Rank: 216
    WEOKIE
    Similarity Rank: 220
    Vision Bank
    Similarity Rank: 224
    CWM PARTNERS, L.P.
    Similarity Rank: 335
    ALLEGIANCE
    Similarity Rank: 396
    TTCU Federal Credit Union
    Similarity Rank: 576
    Oklahoma Educators Credit Union
    Similarity Rank: 864
    OKLAHOMA'S
    Similarity Rank: 867
    VALOR BANK
    Similarity Rank: 1020

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 326 $77,050,000 $236,350 $2,568 7.16%

    For 2023, Vision Bank's most frequently originated type of loan was Conventional, with 326 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 237 $56,545,000 $238,586 $2,750 7.02%
    Refi 61 $13,185,000 $216,148 $1,893 7.55%
    Home Improvement 19 $6,345,000 $333,947 $2,492 7.53%
    Other 9 $975,000 $108,333 $2,357 7.59%

    For 2023, Vision Bank's most frequently cited loan purpose was Home Purchase, with 237 originations. The 2nd most popular reason was Refi, with 61 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 110 $22,780,000 $207,091 $2,981 6.60%
    10 Year 98 $25,760,000 $262,857 $2,065 6.87%
    20 Year 44 $6,350,000 $144,318 $2,552 7.72%
    Other 24 $5,840,000 $243,333 $1,119 8.00%
    1 Year 22 $5,760,000 $261,818 $4,110 8.02%
    15 Year 17 $2,385,000 $140,294 $2,058 8.00%
    5 Year 11 $8,175,000 $743,182 $0 8.22%

    For 2023, Vision Bank's most frequently cited loan duration was 30 Year, with 110 originations. The 2nd most popular length was 10 Year, with 98 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 139 $30,575,000 $219,964
    $1k-2k 49 $7,875,000 $160,714
    $2k-3k 32 $7,270,000 $227,188
    $3k-4k 4 $1,490,000 $372,500
    $4k-5k 2 $1,710,000 $855,000

    Vision Bank's average total fees were $2,981, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 139 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 156 $39,800,000 $255,128
    7-8% 71 $17,975,000 $253,169
    Over 8% 68 $12,370,000 $181,912
    5-6% 30 $6,340,000 $211,333
    4-5% 1 $565,000 $565,000

    During 2023, Vision Bank's average interest rate for loans was 6.60%, while their most frequently originated rate bucket for loans was 6-7%, with 156 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 110 $16,420,000 $149,273 $2,970 7.06%
    $200k-400k 98 $27,320,000 $278,776 $2,765 6.99%
    $100,000 or less 80 $5,200,000 $65,000 $1,925 7.63%
    $400k-600k 24 $11,510,000 $479,583 $1,713 6.86%
    $600k-1MM 8 $6,130,000 $766,250 $3,087 6.64%
    $1MM+ 6 $10,470,000 $1,745,000 $0 7.47%

    2023 saw Vision Bank place emphasis on $100k-200k loans with 110 originations, totaling $16,420,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 54 $14,020,000 $259,630 $2,454 6.76%
    $75k-100k 47 $8,855,000 $188,404 $2,410 6.82%
    $50k-75k 46 $6,030,000 $131,087 $2,632 7.10%
    $150k-250k 45 $12,855,000 $285,667 $3,100 6.96%
    $50k or less 36 $3,710,000 $103,056 $2,333 7.06%
    $250k+ 19 $6,125,000 $322,368 $1,970 7.23%

    Vision Bank lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $75k-100k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 44 $9,310,000 $211,591 $2,720 6.69%
    30-36% 40 $7,990,000 $199,750 $2,633 6.49%
    <20% 17 $2,065,000 $121,471 $2,500 6.74%
    >60% 17 $4,745,000 $279,118 $1,593 6.74%
    44% 14 $2,010,000 $143,571 $2,564 7.33%
    40% 13 $3,645,000 $280,385 $2,290 6.69%
    50-60% 12 $3,910,000 $325,833 $3,207 7.09%
    43% 12 $3,110,000 $259,167 $1,922 6.92%
    42% 9 $1,725,000 $191,667 $2,179 7.47%
    39% 7 $1,105,000 $157,857 $1,971 7.28%
    38% 7 $1,615,000 $230,714 $2,631 7.01%
    37% 6 $910,000 $151,667 $3,452 6.61%
    45% 6 $1,090,000 $181,667 $2,392 7.01%
    46% 5 $2,045,000 $409,000 $3,448 5.75%
    41% 5 $1,035,000 $207,000 $3,113 6.41%
    36% 5 $975,000 $195,000 $4,912 6.32%
    47% 2 $740,000 $370,000 $1,716 6.89%
    48% 2 $260,000 $130,000 $967 7.75%
    49% 2 $430,000 $215,000 $2,159 6.47%

    Vision Bank lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? 30-36%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 206 $42,420,000 $205,922 $2,542 6.93%
    Not applicable 72 $23,890,000 $331,806 $0 7.96%
    American Indian 30 $5,870,000 $195,667 $2,323 6.97%
    Asian 6 $2,330,000 $388,333 $5,428 6.76%
    Black 6 $1,600,000 $266,667 $1,356 6.85%
    Not provided 4 $490,000 $122,500 $3,347 6.69%
    Other Asian 1 $345,000 $345,000 $1,365 6.75%
    Filipino 1 $105,000 $105,000 $0 8.35%

    Approval Rates

    Total approvals of all applications
    89.86%

    Vision Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.98%

    Vision Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 326 $77,050,000 $236,350

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    326 $77,050,000 $236,350

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $2,825,000 $113,000 $1,994 7.48%
    40-60% 43 $9,235,000 $214,767 $2,553 7.09%
    60-80% 120 $30,600,000 $255,000 $2,579 7.13%
    80-100% 124 $32,470,000 $261,855 $2,817 7.02%
    Under 20% 14 $1,920,000 $137,143 $990 8.31%