Communication Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 549300V71V12DS7RW675
Tax ID: 73-0582460
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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, Shawnee, Ardmore, and Topeka 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.64% | 4/18/24 |
| 30 Year Conventional Refi | 6.25% | 4/18/24 |
| 30 Year Cash-out Refi | 6.58% | 4/18/24 |
| 30 Year FHA Purchase | 7.58% | 4/18/24 |
| 30 Year VA Purchase | 6.17% | 4/18/24 |
| 30 Year USDA Purchase | 7.25% | 4/18/24 |
| 15 Year Conventional Purchase | 6.79% | 4/18/24 |
| 15 Year Conventional Refi | 6.42% | 4/18/24 |
| 15 Year Cash-out Refi | 6.42% | 4/18/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
682Origination Dollar Volume (All Markets)
$80,540,000Awards
COMMUNICATION - 2023
COMMUNICATION is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Communication's average 30 year fixed mortgage rate was
6.51%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.03%.
Relative Fees (Closing Costs)
Communication's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,848.
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) | 352 | $44,920,000 | $127,614 | $1,916 | 7.38% |
| TULSA, OK (FHA|USDA|VA) | 145 | $17,735,000 | $122,310 | $1,972 | 7.35% |
| Outside of Metro Areas | 37 | $3,825,000 | $103,378 | $2,248 | 7.43% |
| Shawnee, OK (FHA|USDA|VA) | 21 | $2,425,000 | $115,476 | $2,287 | 7.22% |
| Ardmore, OK (FHA|USDA|VA) | 30 | $2,110,000 | $70,333 | $1,435 | 7.45% |
| TOPEKA, KS (FHA|USDA|VA) | 22 | $1,990,000 | $90,455 | $1,119 | 7.22% |
| ENID, OK (FHA|USDA|VA) | 15 | $1,415,000 | $94,333 | $1,634 | 6.98% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 6 | $990,000 | $165,000 | $2,296 | 7.48% |
| Ada, OK (FHA|USDA|VA) | 7 | $915,000 | $130,714 | $1,379 | 6.93% |
| LAWTON, OK (FHA|USDA|VA) | 11 | $905,000 | $82,273 | $1,652 | 7.57% |
| Durant, OK (FHA|USDA|VA) | 5 | $555,000 | $111,000 | $1,757 | 7.23% |
| WICHITA, KS (FHA|USDA|VA) | 4 | $550,000 | $137,500 | $3,345 | 7.19% |
| Duncan, OK (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $2,049 | 6.53% |
| Muskogee, OK (FHA|USDA|VA) | 9 | $455,000 | $50,556 | $555 | 7.47% |
| Tahlequah, OK (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $1,438 | 6.31% |
| Stillwater, OK (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $847 | 8.50% |
| Altus, OK (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,372 | 7.25% |
| McAlester, OK (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,059 | 5.88% |
| Weatherford, OK (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $636 | 7.75% |
| Woodward, OK (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,389 | 8.38% |
| Bartlesville, OK (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.75% |
| Ottawa, KS (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $957 | 7.75% |
| MANHATTAN, KS (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.00% |
| Hutchinson, KS (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,926 | 7.50% |
| Ponca City, OK (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $1,156 | 6.13% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 675 | $79,225,000 | $117,370 | $1,835 | 7.35% |
| FHA | 6 | $1,110,000 | $185,000 | $6,317 | 7.02% |
| VA | 1 | $205,000 | $205,000 | $3,795 | 7.13% |
For 2023, Communication's most frequently originated type of loan was Conventional, with 675 originations. Their 2nd most popular type was FHA, with 6 originations.
Loan Reason
For 2023, Communication's most frequently cited loan purpose was Home Improvement, with 379 originations. The 2nd most popular reason was Home Purchase, with 256 originations.
Loan Duration/Length
For 2023, Communication's most frequently cited loan duration was 15 Year, with 399 originations. The 2nd most popular length was 30 Year, with 153 originations.
Origination Fees/Closing Costs
Communication's average total fees were $3,848, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 505 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 293 | $29,315,000 | $100,051 |
| Over 8% | 150 | $10,830,000 | $72,200 |
| 6-7% | 144 | $20,040,000 | $139,167 |
| 5-6% | 92 | $19,790,000 | $215,109 |
| 4-5% | 3 | $565,000 | $188,333 |
During 2023, Communication's average interest rate for loans was 6.51%, while their most frequently originated rate bucket for loans was 7-8%, with 293 originations.
Loan Sizing
2023 saw Communication place emphasis on $100,000 or less loans with 440 originations, totaling $23,150,000 in origination value.
Applicant Income
Communication lent most frequently to those with incomes in the $100k-150k range, with 180 originations. The second most popular income band? $50k-75k, with 140 originations.
Applicant Debt to Income Ratio
Communication lent most frequently to those with DTI ratios of 20-30%, with 135 originations. The next most common DTI ratio? 30-36%, with 131 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.41%
Communication has an average approval rate.
Pick Rate
Approvals leading to origination73.90%
Communication has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 682 | $80,540,000 | $118,094 |