Elk City Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Elk City averaged 6.42% for the week of 2024-10-10, compared to the national average of 6.32% for the same period.

The average rate for the prior week (2024-10-03) was 6.12% and one month ago for the week of 2024-09-05, the average rate was 6.35%.

Elk City's average rate one year ago was 7.49%.

For refis of the same type during the week of 2024-10-10, the average rate was 6.52%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-10-10 6.32%
Elk City 30 Year Fixed Rate 2024-10-10 6.42%
Elk City 30 Year Fixed Rate Refi 2024-10-10 6.52%
Elk City 15 Year Fixed Rate 2024-10-10 5.21%
Elk City 15 Year Fixed Rate Refi 2024-10-10 6.01%
Elk City 30 Year FHA 2024-10-10 5.9%
Elk City 30 Year FHA Refi 2024-10-10 6.3%
Elk City 30 Year USDA 2024-10-10 5.88%
Elk City 30 Year USDA Refi 2024-10-10 6.08%
Elk City 30 Year VA 2024-10-10 5.85%
Elk City 30 Year VA Refi 2024-10-10 5.75%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Elk City, OK.

Elk City Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Elk City, OK market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
INTERLINC MORTGAGE SERVICES, LLC 10 6.76% $4,847
InterBank 9 7.79% $2,334
QUICKEN LOANS, LLC 7 6.82% $8,500
BancFirst 3 7.33% $3,781
SUN WEST MORTGAGE COMPANY, INC. 2 6.68% $6,325
Great Plains National Bank 2 7.13% $4,759
UNITED WHOLESALE MORTGAGE, LLC 2 6.50% $4,237
Arvest Bank 2 7.38% $4,543
AMERISAVE MORTGAGE CORPORATION 2 6.63% $5,124
NAVY FEDERAL CREDIT UNION 1 6.13% $2,664
OKLAHOMA'S 1 5.88% $3,149
PENNYMAC LOAN SERVICES, LLC 1 7.63% $4,966
Truity Federal Credit Union 1 6.50% $3,943
Unify Home Lending Inc. 1 6.75% $1,335
USAA Federal Savings Bank 1 7.25% $5,358
U.S. Bank 1 7.13% $8,598
ASSOCIATED MORTGAGE CORPORATION 1 6.63% $4,469
BOKF 1 6.63% $4,070
CROSSCOUNTRY MORTGAGE, LLC 1 6.20% $6,364
FREEDOM MORTGAGE CORPORATION 1 6.75% $6,180
Gateway First Bank 1 7.38% $8,488
LOANPEOPLE, LLC 1 8.50% $7,502
Mortgage Research Center, LLC 1 6.50% $7,493
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.50% $5,662

Elk City Average Closing Costs & Other Stats

Elk City, OK's 24 lenders originated 242 loans during 2023. The total origination value was $41,310,000, with an average loan value of $170,702.

Elk City's average closing costs are $4,669.

The top Elk City lender as defined by loan originations is INTERLINC MORTGAGE SERVICES, LLC, with 10 loans originated. Their average total fees are $4,847, which is $2,513 higher than the next largest lender, InterBank.

The lowest fee Elk City lenders (with over 10 loans originated) are INTERLINC MORTGAGE SERVICES, LLC ($4,847), .

The lowest rate Elk City lenders (with over 10 loans originated) are INTERLINC MORTGAGE SERVICES, LLC (6.76%), .

Elk City, OK Mortgage Market Share & Volume

Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

Name 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
INTERLINC MORTGAGE SERVICES, LLC $11,785,000 $8,325,000 -29.4% 20.2%
Great Plains National Bank $8,355,000 $3,980,000 -52.4% 9.6%
SUN WEST MORTGAGE COMPANY, INC. $625,000 $3,765,000 502.4% 9.1%
InterBank $2,820,000 $3,065,000 8.7% 7.4%
QUICKEN LOANS, LLC $4,365,000 $1,760,000 -59.7% 4.3%
UNITED WHOLESALE MORTGAGE, LLC $1,990,000 $1,645,000 -17.3% 4.0%
Mortgage Research Center, LLC $1,755,000 $1,610,000 -8.3% 3.9%
Unify Home Lending Inc. $1,280,000 n/a 3.1%
BMO Harris Bank $1,205,000 n/a 2.9%
USAA Federal Savings Bank $1,145,000 n/a 2.8%
BancFirst $420,000 $1,010,000 140.5% 2.4%
CROSSCOUNTRY MORTGAGE, LLC $665,000 $790,000 18.8% 1.9%
FINANCIAL CONCEPTS MORTGAGE, LLC $610,000 $780,000 27.9% 1.9%
GUARANTEED RATE, INC. $460,000 $720,000 56.5% 1.7%
Arvest Bank $150,000 $625,000 316.7% 1.5%
AMERISAVE MORTGAGE CORPORATION $400,000 $615,000 53.8% 1.5%
BROKER SOLUTIONS, INC. $195,000 $530,000 171.8% 1.3%
BOKF $145,000 $510,000 251.7% 1.2%
Truity Federal Credit Union $465,000 n/a 1.1%
The Federal Savings Bank $435,000 n/a 1.1%
NATIONWIDE MORTGAGE BANKERS, INC. $425,000 n/a 1.0%
21ST MORTGAGE CORPORATION $205,000 $410,000 100.0% 1.0%
PENNYMAC LOAN SERVICES, LLC $260,000 $395,000 51.9% 1.0%
U.S. Bank $555,000 $395,000 -28.8% 1.0%
NEWREZ LLC $95,000 $325,000 242.1% 0.8%
LOANDEPOT.COM, LLC $915,000 $315,000 -65.6% 0.8%
NFM, INC. $205,000 $305,000 48.8% 0.7%
POLARIS HOME FUNDING CORP. $295,000 n/a 0.7%
LOANPEOPLE, LLC $275,000 n/a 0.7%
Equity Prime Mortgage LLC $135,000 $265,000 96.3% 0.6%
Gateway First Bank $235,000 n/a 0.6%
MORTGAGE SOLUTIONS OF COLORADO, LLC $225,000 n/a 0.5%
AMERICAN FINANCING CORPORATION $105,000 $215,000 104.8% 0.5%
LIBERTY HOME MORTGAGE CORPORATION $205,000 n/a 0.5%
AMERICAN FINANCIAL NETWORK, INC. $195,000 n/a 0.5%
Carrington Mortgage Services, LLC $330,000 $195,000 -40.9% 0.5%
Legacy Bank $245,000 $195,000 -20.4% 0.5%
BETTER MORTGAGE CORPORATION $185,000 n/a 0.4%
OKLAHOMA'S $185,000 n/a 0.4%
LOANPAL, LLC $55,000 $165,000 200.0% 0.4%
PLAZA HOME MORTGAGE, INC. $145,000 n/a 0.4%
GUILD MORTGAGE COMPANY $135,000 n/a 0.3%
Signature Federal Credit Union $135,000 n/a 0.3%
ASSOCIATED MORTGAGE CORPORATION $125,000 n/a 0.3%
Mortgage Investment Services Corporation $125,000 n/a 0.3%
CMG MORTGAGE, INC. $115,000 n/a 0.3%
Wells Fargo Bank $1,155,000 $105,000 -90.9% 0.3%
NAVY FEDERAL CREDIT UNION $425,000 $95,000 -77.6% 0.2%
SOUTHWEST STAGE FUNDING, LLC $95,000 n/a 0.2%
COUNTRYPLACE MORTGAGE, LTD. $85,000 n/a 0.2%
FREEDOM MORTGAGE CORPORATION $425,000 $85,000 -80.0% 0.2%
FNB Community Bank $75,000 n/a 0.2%
MUTUAL OF OMAHA MORTGAGE, INC. $125,000 $75,000 -40.0% 0.2%
First National Bank and Trust Company $65,000 n/a 0.2%
RUOFF MORTGAGE COMPANY, INC. $65,000 n/a 0.2%
LIMA ONE CAPITAL, LLC $45,000 n/a 0.1%
HOMEBRIDGE FINANCIAL SERVICES, INC. $35,000 n/a 0.1%
Southern Bank $25,000 n/a 0.1%
Coastal Community Bank $15,000 n/a 0.0%

Elk City's top lender by overall market share is INTERLINC MORTGAGE SERVICES, LLC, with 20.2% market share. In second place, with 9.6%, is Great Plains National Bank, having originated $3,980,000 in loans. In third place, with 9.1%, is SUN WEST MORTGAGE COMPANY, INC., having originated $3,765,000 in loans. In fourth place, with 7.4%, is InterBank, having originated $3,065,000 in loans. In fifth place, with 4.3%, is QUICKEN LOANS, LLC, having originated $1,760,000 in loans.

Elk City, OK Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 189 $34,025,000 $180,026
Refi 21 $3,385,000 $161,190
Cash Out Refi 13 $2,375,000 $182,692
Other 11 $1,215,000 $110,455
Home Improvement 8 $310,000 $38,750

Elk City's most frequently cited loan purpose was Home Purchase, with 189 originations. The 2nd most popular reason was Refi, with 21 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 102 $20,400,000 $200,000
7-8% 66 $11,960,000 $181,212
Over 8% 52 $5,730,000 $110,192
5-6% 13 $2,645,000 $203,462
<2.5% 1 $5,000 $5,000
4-5% 1 $105,000 $105,000
3-4% 1 $195,000 $195,000

During 2023, Elk City's most frequently originated rate bucket was 6-7%, with 102 originations.

Loan Sizing (Elk City, OK MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 93 $13,985,000 $150,376
$100,000 or less 78 $4,840,000 $62,051
$200k-400k 59 $15,855,000 $268,729
$400k-600k 8 $3,490,000 $436,250
$600k-1000k 3 $1,935,000 $645,000
$Over $1MM 1 $1,205,000 $1,205,000

Elk City's loan sizing saw the bucket of loans from $100k-200k with 93 originations, totaling $13,985,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 142 $26,600,000 $187,324
60-80% 51 $9,755,000 $191,275
40-60% 19 $2,325,000 $122,368
20-40% 10 $580,000 $58,000
Over 100% 7 $1,525,000 $217,857
Under 20% 7 $255,000 $36,429

Elk City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 142 originations, totaling $26,600,000 in origination value.