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 Cash Out Refi, Home Purchase, and Refi 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Oklahoma City, Tulsa, Ardmore, Enid, and Shawnee among others. We have data for 23 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 an above 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.64% | 4/28/24 |
| 30 Year Conventional Refi | 6.25% | 4/28/24 |
| 30 Year Cash-out Refi | 6.58% | 4/28/24 |
| 30 Year FHA Purchase | 7.58% | 4/28/24 |
| 30 Year VA Purchase | 6.17% | 4/28/24 |
| 30 Year USDA Purchase | 7.25% | 4/28/24 |
| 15 Year Conventional Purchase | 6.79% | 4/28/24 |
| 15 Year Conventional Refi | 6.42% | 4/28/24 |
| 15 Year Cash-out Refi | 6.42% | 4/28/24 |
| 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
650Origination Dollar Volume (All Markets)
$90,660,000Top 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) | 361 | $55,745,000 | $154,418 | $2,736 | 3.78% |
| TULSA, OK (FHA|USDA|VA) | 161 | $19,495,000 | $121,087 | $2,711 | 3.96% |
| Outside of Metro Areas | 27 | $3,075,000 | $113,889 | $2,580 | 3.70% |
| Ardmore, OK (FHA|USDA|VA) | 19 | $2,195,000 | $115,526 | $2,449 | 4.00% |
| ENID, OK (FHA|USDA|VA) | 14 | $1,940,000 | $138,571 | $3,028 | 3.32% |
| Shawnee, OK (FHA|USDA|VA) | 13 | $1,935,000 | $148,846 | $3,092 | 3.94% |
| Muskogee, OK (FHA|USDA|VA) | 7 | $915,000 | $130,714 | $3,632 | 3.83% |
| Ada, OK (FHA|USDA|VA) | 7 | $785,000 | $112,143 | $1,936 | 3.35% |
| Durant, OK (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $3,855 | 3.21% |
| TOPEKA, KS (FHA|USDA|VA) | 9 | $675,000 | $75,000 | $1,919 | 4.33% |
| LAWTON, OK (FHA|USDA|VA) | 8 | $660,000 | $82,500 | $2,267 | 3.89% |
| Stillwater, OK (FHA|USDA|VA) | 5 | $465,000 | $93,000 | $2,563 | 4.57% |
| Weatherford, OK (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,904 | 3.63% |
| Woodward, OK (FHA|USDA|VA) | 3 | $345,000 | $115,000 | $2,037 | 3.54% |
| MANHATTAN, KS (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,844 | 2.88% |
| LAWRENCE, KS (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,571 | 2.88% |
| Altus, OK (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 2.88% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $1,433 | 3.93% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,312 | 3.63% |
| Tahlequah, OK (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 4.06% |
| Bartlesville, OK (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,091 | 3.13% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.55% |
| Duncan, OK (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $546 | 4.74% |
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
For 2020, Communication's most frequently originated type of loan was Conventional, with 636 originations. Their 2nd most popular type was FHA, with 9 originations.
Loan Reason
For 2020, Communication's most frequently cited loan purpose was Cash Out Refi, with 326 originations. The 2nd most popular reason was Home Purchase, with 140 originations.
Loan Duration/Length
For 2020, Communication's most frequently cited loan duration was 15 Year, with 276 originations. The 2nd most popular length was 30 Year, with 236 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 366 | $67,980,000 | $185,738 |
| $<1k | 279 | $21,865,000 | $78,369 |
| $2k-3k | 3 | $375,000 | $125,000 |
| $4k-5k | 2 | $440,000 | $220,000 |
Communication's average total fees were $3,314, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 366 originations.
Interest Rates
During 2020, Communication's average interest rate for loans was 3.33%, while their most frequently originated rate bucket for loans was 3-4%, with 253 originations.
Loan Sizing
2020 saw Communication place emphasis on $100,000 or less loans with 279 originations, totaling $14,595,000 in origination value.
Applicant Income
Communication lent most frequently to those with incomes in the $100k-150k range, with 167 originations. The second most popular income band? $50k-75k, with 143 originations.
Applicant Debt to Income Ratio
Communication lent most frequently to those with DTI ratios of 20-30%, with 170 originations. The next most common DTI ratio? 30-36%, with 120 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.43%
Communication has a below average approval rate.
Pick Rate
Approvals leading to origination97.85%
Communication has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 650 | $90,660,000 | $139,477 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 650 | $90,660,000 | $139,477 |