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, 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.64% | 11/21/24 |
| 30 Year Conventional Refi | 6.25% | 11/21/24 |
| 30 Year Cash-out Refi | 6.58% | 11/21/24 |
| 30 Year FHA Purchase | 7.58% | 11/21/24 |
| 30 Year VA Purchase | 6.17% | 11/21/24 |
| 30 Year USDA Purchase | 7.25% | 11/21/24 |
| 15 Year Conventional Purchase | 6.79% | 11/21/24 |
| 15 Year Conventional Refi | 6.42% | 11/21/24 |
| 15 Year Cash-out Refi | 6.42% | 11/21/24 |
| 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
745Origination Dollar Volume (All Markets)
$89,585,000Awards
COMMUNICATION - 2022
COMMUNICATION is a 2022 , due to their low .
For 2022, 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) | 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% |
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.
Similarity Rank: 52
Similarity Rank: 65
Similarity Rank: 165
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Similarity Rank: 192
Similarity Rank: 300
Similarity Rank: 369
Similarity Rank: 632
Similarity Rank: 684
Similarity Rank: 700
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
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
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
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
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
2022 saw Communication place emphasis on $100,000 or less loans with 456 originations, totaling $24,310,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications82.94%
Communication has a below average approval rate.
Pick Rate
Approvals leading to origination77.85%
Communication has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 745 | $89,585,000 | $120,248 |