First Bank Of Owasso Mortgage Rates, Fees & Info

Owasso, OK

LEI: 549300X9F6RDCRU0HK78

Tax ID: 73-0789371

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Mortgage Data

Review & Overview

First Bank Of Owasso is a smaller bank specializing in Home Purchase loans. First Bank Of Owasso has a high proportion of conventional loans. Their top markets by origination volume include: Tulsa, Chicago, and Bartlesville among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Bank Of Owasso has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

66

Origination Dollar Volume (All Markets)

$12,770,000

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
TULSA, OK (FHA|USDA|VA) 62 $11,610,000 $187,258 $0 0.00%
Outside of Metro Areas 2 $870,000 $435,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
Bartlesville, OK (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
First Bank Of Owasso's top markets include Tulsa, Chicago, and Bartlesville among others.

Their top states include:
  • Oklahoma (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 66 $12,770,000 $193,485 $0 0.00%

    For 2023, First Bank Of Owasso's most frequently originated type of loan was Conventional, with 66 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 52 $10,140,000 $195,000 $0 0.00%
    Home Improvement 5 $285,000 $57,000 $0 0.00%
    Other 5 $805,000 $161,000 $0 0.00%
    Refi 4 $1,540,000 $385,000 $0 0.00%

    For 2023, First Bank Of Owasso's most frequently cited loan purpose was Home Purchase, with 52 originations. The 2nd most popular reason was Home Improvement, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 66 $12,770,000 $193,485 $0 0.00%

    For 2023, First Bank Of Owasso's most frequently cited loan duration was Other, with 66 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 25 $3,535,000 $141,400 $0 0.00%
    $100,000 or less 19 $1,245,000 $65,526 $0 0.00%
    $200k-400k 17 $4,315,000 $253,824 $0 0.00%
    $400k-600k 2 $870,000 $435,000 $0 0.00%
    $600k-1MM 2 $1,470,000 $735,000 $0 0.00%
    $1MM+ 1 $1,335,000 $1,335,000 $0 0.00%

    2023 saw First Bank Of Owasso place emphasis on $100k-200k loans with 25 originations, totaling $3,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 7 $1,305,000 $186,429 $0 0.00%
    $50k or less 4 $510,000 $127,500 $0 0.00%
    $150k-250k 2 $430,000 $215,000 $0 0.00%
    $250k+ 2 $890,000 $445,000 $0 0.00%
    $50k-75k 1 $115,000 $115,000 $0 0.00%
    $75k-100k 1 $175,000 $175,000 $0 0.00%

    First Bank Of Owasso lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $50k or less, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 66 $12,770,000 $193,485 $0 0.00%

    First Bank Of Owasso lent most frequently to those with DTI ratios of Exempt%, with 66 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 49 $9,345,000 $190,714 $0 0.00%
    White 9 $1,785,000 $198,333 $0 0.00%
    Not provided 7 $1,575,000 $225,000 $0 0.00%
    Black 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.40%

    First Bank Of Owasso has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    86.36%

    First Bank Of Owasso has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 66 $12,770,000 $193,485

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    66 $12,770,000 $193,485