McAlester Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Mcalester averaged 6.63% for the week of 2024-07-18, compared to the national average of 6.77% for the same period.

    The average rate for the prior week (2024-07-11) was 6.95% and one month ago for the week of 2024-06-13, the average rate was 6.81%.

    Mcalester's average rate one year ago was 6.82%.

    For refis of the same type during the week of 2024-07-18, the average rate was 6.97%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-07-18 6.77%
    Mcalester 30 Year Fixed Rate 2024-07-18 6.63%
    Mcalester 30 Year Fixed Rate Refi 2024-07-18 6.97%
    Mcalester 15 Year Fixed Rate 2024-07-18 6.25%
    Mcalester 15 Year Fixed Rate Refi 2024-07-18 6.55%
    Mcalester 30 Year FHA 2024-07-18 6.45%
    Mcalester 30 Year FHA Refi 2024-07-18 6.59%
    Mcalester 30 Year USDA 2024-07-18 6.63%
    Mcalester 30 Year USDA Refi 2024-07-18 6.83%
    Mcalester 30 Year VA 2024-07-18 6.4%
    Mcalester 30 Year VA Refi 2024-07-18 6.2%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within McAlester, OK.

    McAlester 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 McAlester, 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
    Arvest Bank 17 6.92% $5,654
    QUICKEN LOANS, LLC 14 6.38% $7,663
    GUILD MORTGAGE COMPANY 8 6.81% $6,520
    First United Bank and Trust Company 8 7.03% $5,516
    BancFirst 6 6.69% $4,994
    OPEN MORTGAGE, LLC 5 6.90% $3,747
    Gateway First Bank 4 6.88% $5,658
    CORNERSTONE HOME LENDING, INC. 3 7.08% $7,420
    U.S. Bank 3 6.50% $4,435
    USAA Federal Savings Bank 3 7.00% $7,275
    FLAT BRANCH MORTGAGE, INC. 3 6.92% $3,506
    NEWREZ LLC 3 6.79% $3,723
    UNITED WHOLESALE MORTGAGE, LLC 3 6.71% $6,183
    Great Plains National Bank 3 7.10% $5,837
    21ST MORTGAGE CORPORATION 2 7.53% $6,305
    BROKER SOLUTIONS, INC. 2 7.31% $10,505
    First Federal Bank 2 6.69% $5,254
    Stride Bank 2 7.19% $3,677
    American Bank of Oklahoma 2 6.88% $5,360
    JPMorgan Chase Bank 2 7.50% $4,572
    BOKF 2 6.50% $4,056
    Mortgage Investment Services Corporation 2 6.31% $2,607
    PNC Bank 1 6.25% $7,615
    RCB Bank 1 5.51% $408
    Regent Financial Group, Inc. 1 6.13% $4,807
    Service Federal Credit Union 1 6.75% $8,243
    SWBC MORTGAGE CORPORATION 1 7.50% $6,044
    Tinker Federal Credit Union 1 6.50% $5,628
    TTCU Federal Credit Union 1 6.63% $5,605
    UNION HOME MORTGAGE CORP. 1 7.38% $4,250
    Vision Bank 1 6.77% $4,178
    Wells Fargo Bank 1 7.00% $10,194
    WEOKIE 1 5.88% $4,681
    AMERICAN FINANCING CORPORATION 1 6.88% $5,437
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.63% $7,358
    BETTER MORTGAGE CORPORATION 1 6.63% $4,770
    CHURCHILL MORTGAGE CORPORATION 1 6.75% $6,974
    Citizens Bank 1 7.88% $4,507
    Colonial Savings, F.A. 1 7.00% $8,897
    COMMUNICATION 1 5.88% $3,059
    COMMUNITY MORTGAGE FUNDING, LLC 1 6.00% $5,697
    CROSSCOUNTRY MORTGAGE, LLC 1 6.63% $5,463
    DAS Acquisition Company, LLC 1 5.88% $7,065
    Discover Bank 1 6.74% $0
    Equity Bank 1 7.13% $5,473
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.38% $5,404
    First National Bank of Omaha 1 7.75% $4,122
    First State Bank of St. Charles, Missouri 1 8.00% $5,397
    FirstTrust Home Loans, Inc. 1 5.88% $3,262
    F & M Bank 1 6.63% $5,244
    Mabrey Bank 1 7.13% $3,433
    MOVEMENT MORTGAGE, LLC 1 8.13% $17,864
    NBKC BANK 1 7.00% $3,268
    PENNYMAC LOAN SERVICES, LLC 1 6.00% $7,047

    McAlester Average Closing Costs & Other Stats

    McAlester, OK's 54 lenders originated 606 loans during 2023. The total origination value was $105,080,000, with an average loan value of $173,399.

    McAlester's average closing costs are $4,924.

    The top McAlester lender as defined by loan originations is Arvest Bank, with 17 loans originated. Their average total fees are $5,654, which is $2,010 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee McAlester lenders (with over 10 loans originated) are Arvest Bank ($5,654), QUICKEN LOANS, LLC ($7,663), .

    The lowest rate McAlester lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.38%), Arvest Bank (6.92%), .

    McAlester, 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
    Arvest Bank $15,200,000 $9,775,000 -35.7% 9.3%
    BancFirst $13,280,000 $8,940,000 -32.7% 8.5%
    First United Bank and Trust Company $5,420,000 $6,715,000 23.9% 6.4%
    QUICKEN LOANS, LLC $7,825,000 $5,750,000 -26.5% 5.5%
    Great Plains National Bank $2,295,000 $5,085,000 121.6% 4.8%
    GUILD MORTGAGE COMPANY $1,375,000 $4,695,000 241.5% 4.5%
    OPEN MORTGAGE, LLC $4,810,000 $3,585,000 -25.5% 3.4%
    Mortgage Research Center, LLC $6,850,000 $3,450,000 -49.6% 3.3%
    21ST MORTGAGE CORPORATION $1,030,000 $2,375,000 130.6% 2.3%
    UNITED WHOLESALE MORTGAGE, LLC $2,635,000 $2,195,000 -16.7% 2.1%
    USAA Federal Savings Bank $790,000 $2,190,000 177.2% 2.1%
    FLAT BRANCH MORTGAGE, INC. $2,290,000 $2,185,000 -4.6% 2.1%
    CrossFirst Bank $930,000 $2,015,000 116.7% 1.9%
    NEWREZ LLC $595,000 $1,885,000 216.8% 1.8%
    RCB Bank $1,350,000 n/a 1.3%
    MidFirst Bank $5,435,000 $1,235,000 -77.3% 1.2%
    Gateway First Bank $2,295,000 $1,230,000 -46.4% 1.2%
    CORNERSTONE HOME LENDING, INC. $3,365,000 $1,135,000 -66.3% 1.1%
    FREEDOM MORTGAGE CORPORATION $305,000 $1,065,000 249.2% 1.0%
    Equity Bank $1,005,000 n/a 1.0%
    Mortgage Investment Services Corporation $4,050,000 $1,005,000 -75.2% 1.0%
    DAS Acquisition Company, LLC $845,000 n/a 0.8%
    VALOR BANK $525,000 $805,000 53.3% 0.8%
    BROKER SOLUTIONS, INC. $575,000 $800,000 39.1% 0.8%
    Stride Bank $7,055,000 $775,000 -89.0% 0.7%
    First State Bank of St. Charles, Missouri $725,000 n/a 0.7%
    FIRST HERITAGE BANK $685,000 n/a 0.7%
    First National Bank Of Oklahoma $665,000 n/a 0.6%
    NAVY FEDERAL CREDIT UNION $1,160,000 $665,000 -42.7% 0.6%
    U.S. Bank $1,005,000 $650,000 -35.3% 0.6%
    BOKF $2,390,000 $630,000 -73.6% 0.6%
    Carrington Mortgage Services, LLC $855,000 $620,000 -27.5% 0.6%
    ASSOCIATED MORTGAGE CORPORATION $405,000 $610,000 50.6% 0.6%
    SOUTHWEST STAGE FUNDING, LLC $415,000 $610,000 47.0% 0.6%
    FirstTrust Home Loans, Inc. $2,945,000 $595,000 -79.8% 0.6%
    WEOKIE $850,000 $555,000 -34.7% 0.5%
    American Bank of Oklahoma $1,070,000 $530,000 -50.5% 0.5%
    Mr. Cooper ( Nationstar Mortgage ) $690,000 $515,000 -25.4% 0.5%
    PNC Bank $515,000 n/a 0.5%
    Flagstar Bank, FSB $500,000 n/a 0.5%
    INTERLINC MORTGAGE SERVICES, LLC $495,000 n/a 0.5%
    MOVEMENT MORTGAGE, LLC $485,000 n/a 0.5%
    PENNYMAC LOAN SERVICES, LLC $985,000 $470,000 -52.3% 0.4%
    First Fidelity Bank $455,000 n/a 0.4%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,115,000 $445,000 -60.1% 0.4%
    LOANDEPOT.COM, LLC $760,000 $445,000 -41.4% 0.4%
    Vision Bank $445,000 n/a 0.4%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $610,000 $410,000 -32.8% 0.4%
    NBKC BANK $485,000 $410,000 -15.5% 0.4%
    Tinker Federal Credit Union $630,000 $395,000 -37.3% 0.4%
    NEW DAY FINANCIAL, LLC $1,435,000 $380,000 -73.5% 0.4%
    AMCAP MORTGAGE, LTD. $105,000 $370,000 252.4% 0.4%
    AMERISAVE MORTGAGE CORPORATION $595,000 $360,000 -39.5% 0.3%
    Wells Fargo Bank $1,170,000 $340,000 -70.9% 0.3%
    JPMorgan Chase Bank $275,000 $325,000 18.2% 0.3%
    COMMUNITY MORTGAGE FUNDING, LLC $320,000 n/a 0.3%
    Bank of England $310,000 n/a 0.3%
    ZILLOW HOME LOANS, LLC $105,000 $305,000 190.5% 0.3%
    TTCU Federal Credit Union $295,000 n/a 0.3%
    Service Federal Credit Union $75,000 $290,000 286.7% 0.3%
    AMERICAN FINANCING CORPORATION $55,000 $280,000 409.1% 0.3%
    First Federal Bank $265,000 $280,000 5.7% 0.3%
    MID AMERICA MORTGAGE, INC. $835,000 $280,000 -66.5% 0.3%
    Chickasaw Community Bank $1,050,000 $265,000 -74.8% 0.3%
    DRAPER AND KRAMER MORTGAGE CORP. $265,000 n/a 0.3%
    Goldwater Bank, N.A. $265,000 n/a 0.3%
    Colonial Savings, F.A. $255,000 n/a 0.2%
    Northpointe Bank $255,000 n/a 0.2%
    The Federal Savings Bank $255,000 n/a 0.2%
    CROSSCOUNTRY MORTGAGE, LLC $160,000 $250,000 56.3% 0.2%
    Prosperity Bank $300,000 $235,000 -21.7% 0.2%
    F & M Bank $375,000 $225,000 -40.0% 0.2%
    UNITED BUILT HOMES, L.L.C. $215,000 n/a 0.2%
    VILLAGE CAPITAL MORTGAGE $125,000 $205,000 64.0% 0.2%
    VANDERBILT MORTGAGE AND FINANCE, INC. $280,000 $200,000 -28.6% 0.2%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $195,000 n/a 0.2%
    Discover Bank $180,000 n/a 0.2%
    First Bank $175,000 n/a 0.2%
    Mabrey Bank $175,000 n/a 0.2%
    EVERETT FINANCIAL, INC. $960,000 $165,000 -82.8% 0.2%
    UNION HOME MORTGAGE CORP. $155,000 n/a 0.1%
    Armstrong Bank $175,000 $150,000 -14.3% 0.1%
    CHURCHILL MORTGAGE CORPORATION $155,000 $135,000 -12.9% 0.1%
    GUARANTEED RATE, INC. $305,000 $135,000 -55.7% 0.1%
    PLAZA HOME MORTGAGE, INC. $350,000 $135,000 -61.4% 0.1%
    SWBC MORTGAGE CORPORATION $135,000 n/a 0.1%
    Citizens Bank $360,000 $125,000 -65.3% 0.1%
    COMMUNICATION $470,000 $125,000 -73.4% 0.1%
    Legend Bank, N.A. $125,000 n/a 0.1%
    MUTUAL OF OMAHA MORTGAGE, INC. $75,000 $105,000 40.0% 0.1%
    ACB BANK $95,000 n/a 0.1%
    Coastal Community Bank $95,000 n/a 0.1%
    GSB MORTGAGE, INC. $95,000 n/a 0.1%
    Liberty National Bank $95,000 n/a 0.1%
    First National Bank of Omaha $105,000 $85,000 -19.0% 0.1%
    LOANPAL, LLC $165,000 $85,000 -48.5% 0.1%
    Regent Financial Group, Inc. $85,000 n/a 0.1%
    The First National Bank of Fort Smith $95,000 $85,000 -10.5% 0.1%
    Truist $85,000 n/a 0.1%
    Figure Lending LLC $25,000 $80,000 220.0% 0.1%
    Nations Lending Corporation $270,000 $75,000 -72.2% 0.1%
    BETTER MORTGAGE CORPORATION $65,000 n/a 0.1%
    FINANCIAL CONCEPTS MORTGAGE, LLC $1,485,000 $55,000 -96.3% 0.1%
    OKLAHOMA'S $50,000 n/a 0.0%
    Deere Employees Credit Union $45,000 n/a 0.0%
    PENTAGON FEDERAL CREDIT UNION $45,000 n/a 0.0%
    RUOFF MORTGAGE COMPANY, INC. $45,000 n/a 0.0%
    OKLAHOMA CENTRAL Credit Union $35,000 n/a 0.0%
    ROYAL UNITED MORTGAGE LLC $335,000 $35,000 -89.6% 0.0%
    TRUE SKY $35,000 n/a 0.0%

    McAlester's top lender by overall market share is Arvest Bank, with 9.3% market share. In second place, with 8.5%, is BancFirst, having originated $8,940,000 in loans. In third place, with 6.4%, is First United Bank and Trust Company, having originated $6,715,000 in loans. In fourth place, with 5.5%, is QUICKEN LOANS, LLC, having originated $5,750,000 in loans. In fifth place, with 4.8%, is Great Plains National Bank, having originated $5,085,000 in loans.

    McAlester, OK Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 409 $79,885,000 $195,318
    Cash Out Refi 56 $11,420,000 $203,929
    Refi 54 $9,100,000 $168,519
    Home Improvement 52 $2,870,000 $55,192
    Other 35 $1,805,000 $51,571

    Mcalester's most frequently cited loan purpose was Home Purchase, with 409 originations. The 2nd most popular reason was Cash Out Refi, with 56 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 214 $41,440,000 $193,645
    7-8% 149 $27,685,000 $185,805
    Over 8% 107 $10,115,000 $94,533
    5-6% 55 $10,935,000 $198,818
    4-5% 4 $1,580,000 $395,000
    2.5-3% 2 $90,000 $45,000
    <2.5% 1 $15,000 $15,000
    3-4% 1 $135,000 $135,000

    During 2023, Mcalester's most frequently originated rate bucket was 6-7%, with 214 originations.

    Loan Sizing (McAlester, OK MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 238 $34,980,000 $146,975
    $100,000 or less 208 $11,790,000 $56,683
    $200k-400k 121 $31,725,000 $262,190
    $400k-600k 21 $10,165,000 $484,048
    $600k-1000k 13 $9,205,000 $708,077
    $Over $1MM 5 $7,215,000 $1,443,000

    McAlester's loan sizing saw the bucket of loans from $100k-200k with 238 originations, totaling $34,980,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 279 $53,085,000 $190,269
    60-80% 132 $27,490,000 $208,258
    20-40% 47 $3,155,000 $67,128
    40-60% 34 $5,740,000 $168,824
    Under 20% 30 $980,000 $32,667
    Over 100% 10 $1,410,000 $141,000

    McAlester's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 279 originations, totaling $53,085,000 in origination value.