Interbank Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 549300T2PYPUFN0IWJ63

Tax ID: 73-1319566

5 stars - Updated: 12/8/24 - out of 5 stars, based on 17 reviews

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

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Mortgage Data

Review & Overview

Interbank is a smaller bank specializing in Home Purchase loans. Interbank 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: Dallas, Los Angeles, Stephenville, Oklahoma City, and Mineral Wells among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

Interbank 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. Interbank 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 6.76% 12/8/24
30 Year Conventional Refi 6.54% 12/8/24
30 Year Cash-out Refi 6.80% 12/8/24
30 Year FHA Purchase 7.06% 12/8/24
30 Year FHA Refi 6.27% 12/8/24
30 Year VA Purchase 6.27% 12/8/24
30 Year USDA Purchase 6.27% 12/8/24
15 Year Conventional Purchase 6.46% 12/8/24
15 Year Conventional Refi 6.99% 12/8/24
15 Year Cash-out Refi 6.99% 12/8/24
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.

Interbank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Interbank. 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

300

Origination Dollar Volume (All Markets)

$266,280,000

Awards

InterBank 30 Year Conventional Loans gold InterBank 30 Year Conventional Loans gold InterBank 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Interbank's average 30 year fixed mortgage rate was 7.36%.

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

This yields a difference of 0.88%.

Relative Fees (Closing Costs)

Interbank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,809.

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
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 61 $176,405,000 $2,891,885 $4,317 8.47%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $39,575,000 $39,575,000 $0 8.50%
Outside of Metro Areas 79 $14,575,000 $184,494 $3,180 8.24%
Stephenville, TX (FHA|USDA|VA) 36 $9,680,000 $268,889 $3,830 7.62%
OKLAHOMA CITY, OK (FHA|USDA|VA) 39 $8,285,000 $212,436 $3,148 7.66%
Mineral Wells, TX (FHA|USDA|VA) 2 $3,270,000 $1,635,000 $11,761 7.63%
Elk City, OK (FHA|USDA|VA) 19 $3,065,000 $161,316 $1,982 8.63%
ENID, OK (FHA|USDA|VA) 25 $2,265,000 $90,600 $920 8.94%
Weatherford, OK (FHA|USDA|VA) 9 $1,525,000 $169,444 $2,625 7.81%
ABILENE, TX (FHA|USDA|VA) 3 $1,505,000 $501,667 $6,038 8.92%
Stillwater, OK (FHA|USDA|VA) 4 $1,180,000 $295,000 $0 8.38%
Brownwood, TX (FHA|USDA|VA) 2 $1,050,000 $525,000 $2,041 8.25%
Granbury, TX (FHA|USDA|VA) 3 $935,000 $311,667 $5,776 6.21%
Jacksonville, TX (FHA|USDA|VA) 3 $785,000 $261,667 $0 9.08%
WACO, TX (FHA|USDA|VA) 1 $455,000 $455,000 $4,167 6.75%
LAWTON, OK (FHA|USDA|VA) 2 $360,000 $180,000 $2,509 7.81%
AMARILLO, TX (FHA|USDA|VA) 1 $355,000 $355,000 $3,306 9.00%
TULSA, OK (FHA|USDA|VA) 1 $315,000 $315,000 $8,733 6.25%
Port Lavaca, TX (FHA|USDA|VA) 1 $235,000 $235,000 $0 9.00%
WICHITA FALLS, TX (FHA|USDA|VA) 4 $210,000 $52,500 $1,040 8.28%
Altus, OK (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.00%
Woodward, OK (FHA|USDA|VA) 1 $75,000 $75,000 $1,483 8.50%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $55,000 $55,000 $1,525 10.00%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.50%
Interbank's top markets include Dallas, Los Angeles, Stephenville, Oklahoma City, and Mineral Wells among others.

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

    We use machine learning to identify the top lenders compared against InterBank 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 295 $265,295,000 $899,305 $3,232 8.23%
    FHA 5 $985,000 $197,000 $6,375 6.20%

    For 2023, Interbank's most frequently originated type of loan was Conventional, with 295 originations. Their 2nd most popular type was FHA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 221 $256,405,000 $1,160,204 $3,913 7.96%
    Cash Out Refi 24 $3,330,000 $138,750 $1,846 8.89%
    Home Improvement 20 $1,710,000 $85,500 $1,814 9.12%
    Other 19 $1,745,000 $91,842 $1,758 8.96%
    Refi 16 $3,090,000 $193,125 $1,664 8.39%

    For 2023, Interbank's most frequently cited loan purpose was Home Purchase, with 221 originations. The 2nd most popular reason was Cash Out Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 129 $35,375,000 $274,225 $3,809 7.36%
    15 Year 39 $6,135,000 $157,308 $2,931 8.40%
    Other 36 $82,430,000 $2,289,722 $1,209 9.17%
    5 Year 32 $125,680,000 $3,927,500 $926 8.68%
    20 Year 25 $5,665,000 $226,600 $2,289 8.58%
    1 Year 25 $9,985,000 $399,400 $2,376 9.25%
    10 Year 12 $610,000 $50,833 $822 9.29%
    3 Year 2 $400,000 $200,000 $0 8.00%

    For 2023, Interbank's most frequently cited loan duration was 30 Year, with 129 originations. The 2nd most popular length was 15 Year, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 95 $17,715,000 $186,474
    $1k-2k 60 $15,460,000 $257,667
    $2k-3k 12 $3,550,000 $295,833
    $3k-4k 12 $4,460,000 $371,667
    $5k+ 3 $945,000 $315,000
    $4k-5k 1 $215,000 $215,000

    Interbank's average total fees were $3,809, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 95 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 192 $185,780,000 $967,604
    6-7% 59 $16,355,000 $277,203
    7-8% 31 $58,545,000 $1,888,548
    5-6% 17 $5,295,000 $311,471
    4-5% 1 $305,000 $305,000

    During 2023, Interbank's average interest rate for loans was 7.36%, while their most frequently originated rate bucket for loans was Over 8%, with 192 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 92 $13,000,000 $141,304 $2,761 8.13%
    $100,000 or less 91 $5,045,000 $55,440 $1,435 8.96%
    $200k-400k 70 $19,720,000 $281,714 $5,078 7.58%
    $400k-600k 21 $9,775,000 $465,476 $4,067 7.44%
    $600k-1MM 16 $11,680,000 $730,000 $5,236 7.77%
    $1MM+ 10 $207,060,000 $20,706,000 $16,649 8.42%

    2023 saw Interbank place emphasis on $100k-200k loans with 92 originations, totaling $13,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 44 $10,620,000 $241,364 $3,948 7.15%
    $50k-75k 40 $5,150,000 $128,750 $2,921 7.71%
    $75k-100k 33 $4,205,000 $127,424 $2,622 8.46%
    $150k-250k 27 $8,015,000 $296,852 $4,256 8.06%
    $250k+ 23 $13,015,000 $565,870 $4,411 7.80%
    $50k or less 23 $1,545,000 $67,174 $1,351 8.68%

    Interbank lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $50k-75k, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 47 $8,365,000 $177,979 $3,093 8.00%
    30-36% 42 $9,280,000 $220,952 $3,552 7.50%
    <20% 21 $3,345,000 $159,286 $1,660 8.66%
    36% 12 $2,520,000 $210,000 $3,755 7.85%
    38% 9 $1,815,000 $201,667 $2,932 7.64%
    42% 8 $1,870,000 $233,750 $2,336 8.09%
    41% 8 $1,870,000 $233,750 $3,893 7.39%
    50-60% 7 $1,795,000 $256,429 $1,839 9.04%
    40% 7 $1,185,000 $169,286 $2,695 8.25%
    37% 7 $1,215,000 $173,571 $3,155 7.39%
    43% 7 $2,435,000 $347,857 $4,492 7.11%
    44% 7 $1,875,000 $267,857 $5,147 7.11%
    39% 4 $550,000 $137,500 $2,059 8.69%
    46% 3 $595,000 $198,333 $4,313 7.33%
    45% 3 $3,605,000 $1,201,667 $7,935 8.08%
    48% 2 $750,000 $375,000 $5,875 6.25%
    >60% 2 $580,000 $290,000 $4,922 8.13%
    47% 1 $455,000 $455,000 $4,167 6.75%
    49% 1 $205,000 $205,000 $6,662 6.88%

    Interbank lent most frequently to those with DTI ratios of 20-30%, with 47 originations. The next most common DTI ratio? 30-36%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 68 $218,800,000 $3,217,647 $0 8.85%
    White 206 $42,190,000 $204,806 $3,327 8.06%
    Not provided 14 $3,310,000 $236,429 $4,017 7.32%
    American Indian 7 $1,035,000 $147,857 $1,880 8.25%
    Black 2 $420,000 $210,000 $3,595 6.56%
    Asian Indian 2 $360,000 $180,000 $2,894 7.13%
    Asian 1 $165,000 $165,000 $0 8.00%

    Approval Rates

    Total approvals of all applications
    87.53%

    Interbank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.67%

    Interbank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    70.0 1 $5,000 $5,000
    NA 299 $266,275,000 $890,552

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    300 $266,280,000 $887,600

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 39 $5,235,000 $134,231 $3,183 8.64%
    40-60% 64 $215,090,000 $3,360,781 $3,412 8.14%
    60-80% 118 $33,010,000 $279,746 $3,736 8.12%
    80-100% 62 $11,210,000 $180,806 $3,392 7.89%
    Under 20% 17 $1,735,000 $102,059 $938 9.00%