First Bank Of Owasso Mortgage Rates, Fees & Info

Owasso, OK

LEI: 549300X9F6RDCRU0HK78

Tax ID: 73-0789371

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 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, Oklahoma City, and Muskogee among others. We have data for 3 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 an above average pick rate when compared to similar lenders.

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Originations

103

Origination Dollar Volume (All Markets)

$16,185,000

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)	99	$14,965,000	$151,162	$0	0.00%
OKLAHOMA CITY, OK (FHA\|USDA\|VA)	3	$1,115,000	$371,667	$0	0.00%
Muskogee, OK (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	0.00%

First Bank Of Owasso's top markets include Tulsa, Oklahoma City, and Muskogee among others.

Their top states include:

Oklahoma (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	103	$16,185,000	$157,136	$0	0.00%

For 2018, First Bank Of Owasso's most frequently originated type of loan was Conventional, with 103 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	72	$12,300,000	$170,833	$0	0.00%
Home Improvement	16	$1,970,000	$123,125	$0	0.00%
Refi	12	$1,780,000	$148,333	$0	0.00%
Other	3	$135,000	$45,000	$0	0.00%

For 2018, First Bank Of Owasso's most frequently cited loan purpose was Home Purchase, with 72 originations. The 2nd most popular reason was Home Improvement, with 16 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	103	$16,185,000	$157,136	$0	0.00%

For 2018, First Bank Of Owasso's most frequently cited loan duration was Other, with 103 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	54	$3,150,000	$58,333	$0	0.00%
$100k-200k	28	$3,810,000	$136,071	$0	0.00%
$200k-400k	15	$3,925,000	$261,667	$0	0.00%
$400k-600k	3	$1,315,000	$438,333	$0	0.00%
$1MM+	2	$3,380,000	$1,690,000	$0	0.00%
$600k-1MM	1	$605,000	$605,000	$0	0.00%

2018 saw First Bank Of Owasso place emphasis on $100,000 or less loans with 54 originations, totaling $3,150,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	10	$2,010,000	$201,000	$0	0.00%
$50k or less	9	$615,000	$68,333	$0	0.00%
$150k-250k	5	$575,000	$115,000	$0	0.00%
$50k-75k	5	$565,000	$113,000	$0	0.00%
$75k-100k	4	$370,000	$92,500	$0	0.00%
$250k+	2	$510,000	$255,000	$0	0.00%

First Bank Of Owasso lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $50k or less, with 9 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	103	$16,185,000	$157,136	$0	0.00%

First Bank Of Owasso lent most frequently to those with DTI ratios of Exempt%, with 103 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	68	$11,540,000	$169,706	$0	0.00%
White	31	$4,125,000	$133,065	$0	0.00%
Asian	1	$425,000	$425,000	$0	0.00%
Black	2	$70,000	$35,000	$0	0.00%
American Indian	1	$25,000	$25,000	$0	0.00%

Approval Rates

Total approvals of all applications
96.55%

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
91.26%

First Bank Of Owasso has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	103	$16,185,000	$157,136

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	1	$245,000	$245,000
Multifamily:Site-Built	17	$7,145,000	$420,294
Single Family (1-4 Units):Manufactured	1	$135,000	$135,000
Single Family (1-4 Units):Site-Built	84	$8,660,000	$103,095

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
FIRST NATIONAL BANK OF OMAHA	Home equity loan or line of credit (HELOC)	Closing on a mortgage	1	50.0%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Struggling to pay mortgage	1	50.0%