Interbank Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 549300T2PYPUFN0IWJ63
Tax ID: 73-1319566
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.76% | 11/17/24 |
| 30 Year Conventional Refi | 6.54% | 11/17/24 |
| 30 Year Cash-out Refi | 6.80% | 11/17/24 |
| 30 Year FHA Purchase | 7.06% | 11/17/24 |
| 30 Year FHA Refi | 6.27% | 11/17/24 |
| 30 Year VA Purchase | 6.27% | 11/17/24 |
| 30 Year USDA Purchase | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 6.46% | 11/17/24 |
| 15 Year Conventional Refi | 6.99% | 11/17/24 |
| 15 Year Cash-out Refi | 6.99% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
300Origination Dollar Volume (All Markets)
$266,280,000Awards
InterBank - 2023
InterBank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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
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
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
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
2023 saw Interbank place emphasis on $100k-200k loans with 92 originations, totaling $13,000,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications87.53%
Interbank has an average approval rate.
Pick Rate
Approvals leading to origination71.67%
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 |