Communication Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 549300V71V12DS7RW675

Tax ID: 73-0582460

5 stars - Updated: 2/26/24 - out of 5 stars, based on 27 reviews

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

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Mortgage Data

Review & Overview

Communication is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Communication 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, Ardmore, Kansas City, and Enid among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)

Communication 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. Communication 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 6.64% 2/26/24
30 Year Conventional Refi 6.25% 2/26/24
30 Year Cash-out Refi 6.58% 2/26/24
30 Year FHA Purchase 7.58% 2/26/24
30 Year VA Purchase 6.17% 2/26/24
30 Year USDA Purchase 7.25% 2/26/24
15 Year Conventional Purchase 6.79% 2/26/24
15 Year Conventional Refi 6.42% 2/26/24
15 Year Cash-out Refi 6.42% 2/26/24
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.

Communication Mortgage Calculator






Your Estimates

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

This is not an official calculator from Communication. 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

745

Origination Dollar Volume (All Markets)

$89,585,000

Relative Rate

Communication's average 30 year fixed mortgage rate was 5.17%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.41%.

Relative Fees (Closing Costs)

Communication's average total fees/closing costs for a 30 year fixed rate mortgage were $2,670.

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 $4,750.

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) 354 $46,080,000 $130,169 $1,417 5.67%
TULSA, OK (FHA|USDA|VA) 184 $21,920,000 $119,130 $1,456 5.62%
Outside of Metro Areas 52 $6,580,000 $126,538 $1,757 5.48%
Ardmore, OK (FHA|USDA|VA) 30 $2,570,000 $85,667 $1,020 5.47%
KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $2,005,000 $401,000 $2,164 6.15%
ENID, OK (FHA|USDA|VA) 13 $1,605,000 $123,462 $1,649 5.53%
TOPEKA, KS (FHA|USDA|VA) 15 $1,555,000 $103,667 $1,048 5.78%
Shawnee, OK (FHA|USDA|VA) 22 $1,260,000 $57,273 $1,008 6.11%
LAWTON, OK (FHA|USDA|VA) 13 $1,205,000 $92,692 $1,584 5.95%
Ada, OK (FHA|USDA|VA) 10 $1,070,000 $107,000 $843 5.47%
Tahlequah, OK (FHA|USDA|VA) 7 $755,000 $107,857 $1,735 5.48%
Muskogee, OK (FHA|USDA|VA) 10 $500,000 $50,000 $727 5.65%
McAlester, OK (FHA|USDA|VA) 6 $470,000 $78,333 $1,325 5.58%
Duncan, OK (FHA|USDA|VA) 6 $440,000 $73,333 $1,122 5.98%
MANHATTAN, KS (FHA|USDA|VA) 2 $350,000 $175,000 $3,128 5.68%
WICHITA, KS (FHA|USDA|VA) 2 $270,000 $135,000 $2,824 4.38%
Stillwater, OK (FHA|USDA|VA) 3 $265,000 $88,333 $883 6.08%
FORT SMITH, AR-OK (FHA|USDA|VA) 1 $245,000 $245,000 $0 3.88%
Ponca City, OK (FHA|USDA|VA) 2 $150,000 $75,000 $1,883 4.56%
Bartlesville, OK (FHA|USDA|VA) 3 $135,000 $45,000 $1,415 4.83%
Durant, OK (FHA|USDA|VA) 1 $45,000 $45,000 $1,097 5.99%
Atchison, KS (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.00%
Winfield, KS (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.38%
Weatherford, OK (FHA|USDA|VA) 1 $25,000 $25,000 $578 5.24%
Guymon, OK (FHA|USDA|VA) 1 $15,000 $15,000 $572 4.37%
Communication's top markets include Oklahoma City, Tulsa, Ardmore, Kansas City, and Enid among others.

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

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

    First Oklahoma Mortgage, LLC
    Similarity Rank: 108
    RED CROWN
    Similarity Rank: 240
    TRUE SKY
    Similarity Rank: 330
    WEOKIE
    Similarity Rank: 528
    KS StateBank
    Similarity Rank: 600
    OKLAHOMA CENTRAL Credit Union
    Similarity Rank: 720
    Truity Federal Credit Union
    Similarity Rank: 765
    OKLAHOMA'S
    Similarity Rank: 776

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 739 $88,525,000 $119,790 $1,381 5.65%
    FHA 3 $515,000 $171,667 $4,187 5.63%
    VA 3 $545,000 $181,667 $4,946 5.71%

    For 2022, Communication's most frequently originated type of loan was Conventional, with 739 originations. Their 2nd most popular type was FHA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 418 $30,790,000 $73,660 $747 5.70%
    Home Purchase 278 $51,900,000 $186,691 $2,363 5.68%
    Cash Out Refi 33 $4,605,000 $139,545 $1,611 4.97%
    Other 12 $1,050,000 $87,500 $967 5.51%
    Refi 4 $1,240,000 $310,000 $4,212 3.94%

    For 2022, Communication's most frequently cited loan purpose was Home Improvement, with 418 originations. The 2nd most popular reason was Home Purchase, with 278 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 415 $33,185,000 $79,964 $1,037 5.93%
    30 Year 204 $48,780,000 $239,118 $2,670 5.17%
    10 Year 91 $4,535,000 $49,835 $413 5.68%
    5 Year 22 $870,000 $39,545 $202 5.35%
    20 Year 13 $2,215,000 $170,385 $2,273 4.16%

    For 2022, Communication's most frequently cited loan duration was 15 Year, with 415 originations. The 2nd most popular length was 30 Year, with 204 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 575 $50,025,000 $87,000
    $1k-2k 161 $35,805,000 $222,391
    $2k-3k 4 $1,730,000 $432,500
    $3k-4k 3 $445,000 $148,333
    $5k+ 2 $1,580,000 $790,000

    Communication's average total fees were $2,670, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 575 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 303 $35,455,000 $117,013
    6-7% 199 $21,885,000 $109,975
    4-5% 106 $12,620,000 $119,057
    3-4% 85 $15,835,000 $186,294
    7-8% 45 $3,155,000 $70,111
    Over 8% 4 $290,000 $72,500
    2.5-3% 3 $345,000 $115,000

    During 2022, Communication's average interest rate for loans was 5.17%, while their most frequently originated rate bucket for loans was 5-6%, with 303 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 456 $24,310,000 $53,311 $841 5.86%
    $100k-200k 165 $23,765,000 $144,030 $1,913 5.45%
    $200k-400k 100 $27,880,000 $278,800 $2,287 5.12%
    $400k-600k 19 $9,475,000 $498,684 $3,739 4.97%
    $600k-1MM 4 $2,850,000 $712,500 $10,776 5.66%
    $1MM+ 1 $1,305,000 $1,305,000 $4,092 6.63%

    2022 saw Communication place emphasis on $100,000 or less loans with 456 originations, totaling $24,310,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 195 $25,215,000 $129,308 $1,310 5.60%
    $75k-100k 147 $13,945,000 $94,864 $1,246 5.68%
    $50k-75k 136 $11,560,000 $85,000 $1,335 5.64%
    $150k-250k 121 $23,025,000 $190,289 $1,931 5.67%
    $50k or less 113 $8,135,000 $71,991 $1,203 5.57%
    $250k+ 33 $7,705,000 $233,485 $1,778 5.96%

    Communication lent most frequently to those with incomes in the $100k-150k range, with 195 originations. The second most popular income band? $75k-100k, with 147 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 161 $19,655,000 $122,081 $1,594 5.41%
    30-36% 146 $19,070,000 $130,616 $1,532 5.61%
    <20% 51 $6,505,000 $127,549 $1,339 5.30%
    49% 47 $3,445,000 $73,298 $636 6.01%
    48% 32 $4,240,000 $132,500 $1,167 6.01%
    40% 32 $3,890,000 $121,563 $1,417 5.75%
    47% 27 $2,125,000 $78,704 $975 5.89%
    39% 26 $4,160,000 $160,000 $1,509 5.37%
    41% 26 $4,450,000 $171,154 $1,900 5.36%
    43% 25 $2,265,000 $90,600 $863 5.84%
    44% 25 $3,545,000 $141,800 $2,478 5.67%
    46% 25 $3,045,000 $121,800 $603 5.54%
    37% 24 $1,860,000 $77,500 $1,205 6.41%
    38% 24 $2,930,000 $122,083 $1,449 5.59%
    36% 23 $3,295,000 $143,261 $1,801 5.78%
    42% 21 $2,455,000 $116,905 $1,495 6.09%
    45% 19 $1,445,000 $76,053 $742 5.68%
    50-60% 9 $1,085,000 $120,556 $2,421 5.99%
    >60% 1 $35,000 $35,000 $1,002 5.24%

    Communication lent most frequently to those with DTI ratios of 20-30%, with 161 originations. The next most common DTI ratio? 30-36%, with 146 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 529 $65,455,000 $123,733 $1,293 5.54%
    Not provided 113 $11,645,000 $103,053 $2,022 6.25%
    American Indian 47 $5,145,000 $109,468 $1,173 5.42%
    Black 39 $4,285,000 $109,872 $1,565 5.71%
    Asian 15 $2,625,000 $175,000 $1,136 5.34%
    Asian Indian 1 $245,000 $245,000 $2,145 4.00%
    Native Hawaiian or Islander 1 $185,000 $185,000 $0 8.50%

    Approval Rates

    Total approvals of all applications
    82.94%

    Communication has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    77.85%

    Communication has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 745 $89,585,000 $120,248

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    745 $89,585,000 $120,248

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 165 $12,815,000 $77,667 $540 5.92%
    40-60% 55 $5,965,000 $108,455 $1,279 5.54%
    60-80% 110 $18,410,000 $167,364 $2,211 5.02%
    80-100% 216 $43,490,000 $201,343 $2,538 5.63%
    Over 100% 2 $280,000 $140,000 $5,010 6.06%
    Under 20% 192 $8,130,000 $42,344 $409 5.82%