Oklahoma's Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 549300V5MRNYGHSGR060
Tax ID: 73-6093655
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Mortgage Data
Review & Overview
Oklahoma's is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Oklahoma's 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: Oklahoma City, Tulsa, Mcalester, Enid, and Shawnee among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Oklahoma's 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. Oklahoma's 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.
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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 5/4/24 |
| 30 Year Conventional Purchase | 6.27% | 5/4/24 |
| 30 Year Conventional Refi | 6.27% | 5/4/24 |
| 30 Year Cash-out Refi | 6.27% | 5/4/24 |
| 30 Year FHA Purchase | 6.27% | 5/4/24 |
| 30 Year VA Purchase | 6.27% | 5/4/24 |
| 15 Year Conventional Purchase | 5.68% | 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. | ||
Oklahoma's Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
354Origination Dollar Volume (All Markets)
$33,320,000Awards
OKLAHOMA'S - 2018
OKLAHOMA'S is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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) | 255 | $26,375,000 | $103,431 | $2,054 | 4.56% |
| Outside of Metro Areas | 41 | $2,775,000 | $67,683 | $2,041 | 4.44% |
| TULSA, OK (FHA|USDA|VA) | 16 | $1,300,000 | $81,250 | $1,966 | 4.50% |
| McAlester, OK (FHA|USDA|VA) | 6 | $500,000 | $83,333 | $1,590 | 4.46% |
| ENID, OK (FHA|USDA|VA) | 5 | $385,000 | $77,000 | $2,076 | 4.48% |
| Shawnee, OK (FHA|USDA|VA) | 7 | $375,000 | $53,571 | $1,734 | 4.39% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $3,384 | 4.75% |
| Stillwater, OK (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $1,903 | 4.46% |
| Ada, OK (FHA|USDA|VA) | 4 | $290,000 | $72,500 | $1,978 | 4.16% |
| Weatherford, OK (FHA|USDA|VA) | 4 | $210,000 | $52,500 | $2,122 | 4.44% |
| Duncan, OK (FHA|USDA|VA) | 3 | $95,000 | $31,667 | $1,250 | 5.00% |
| Elk City, OK (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $946 | 4.25% |
| Woodward, OK (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,165 | 4.13% |
| LAWTON, OK (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,830 | 3.63% |
| Muskogee, OK (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,165 | 3.50% |
| Guymon, OK (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $1,300 | 3.50% |
| Tahlequah, OK (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 4.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against OKLAHOMA'S based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 42
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Similarity Rank: 180
Similarity Rank: 192
Similarity Rank: 240
Similarity Rank: 294
Similarity Rank: 297
Similarity Rank: 564
Product Mix
For 2018, Oklahoma's's most frequently originated type of loan was Conventional, with 263 originations. Their 2nd most popular type was HELOC, with 83 originations.
Loan Reason
For 2018, Oklahoma's's most frequently cited loan purpose was Cash Out Refi, with 129 originations. The 2nd most popular reason was Home Purchase, with 99 originations.
Loan Duration/Length
For 2018, Oklahoma's's most frequently cited loan duration was 15 Year, with 183 originations. The 2nd most popular length was 30 Year, with 99 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 250 | $26,340,000 | $105,360 |
| $1k-2k | 18 | $3,000,000 | $166,667 |
| $2k-3k | 1 | $195,000 | $195,000 |
| $3k-4k | 1 | $275,000 | $275,000 |
Oklahoma's's average total fees were $3,356, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 250 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 245 | $23,935,000 | $97,694 |
| 3-4% | 64 | $5,800,000 | $90,625 |
| 5-6% | 44 | $3,520,000 | $80,000 |
| 6-7% | 1 | $65,000 | $65,000 |
During 2018, Oklahoma's's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 4-5%, with 245 originations.
Loan Sizing
2018 saw Oklahoma's place emphasis on $100,000 or less loans with 224 originations, totaling $10,820,000 in origination value.
Applicant Income
Oklahoma's lent most frequently to those with incomes in the $50k-75k range, with 92 originations. The second most popular income band? $100k-150k, with 84 originations.
Applicant Debt to Income Ratio
Oklahoma's lent most frequently to those with DTI ratios of 20-30%, with 110 originations. The next most common DTI ratio? 30-36%, with 85 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.26%
Oklahoma's has a below average approval rate.
Pick Rate
Approvals leading to origination59.32%
Oklahoma's 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 |
|---|---|---|---|
| 0.0 | 79 | $3,285,000 | $41,582 |
| NA | 275 | $30,035,000 | $109,218 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 354 | $33,320,000 | $94,124 |