BancFirst of Oklahoma Mortgage Interest Rate and Cost Review

Is BancFirst of Oklahoma a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by BancFirst of Oklahoma with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (-0.05%)
Loan Related Closing Costssimilar to average (-$78)
National Rate and Closing Cost Rating(4.0)

On average, BancFirst of Oklahoma’s interest rates were similar to those of other lenders (-0.05%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$78. Overall, combining interest rates and closing costs we estimate that BancFirst of Oklahoma tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4.0 out of 5.0 stars.

BancFirst of Oklahoma’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track BancFirst of Oklahoma was most active in:

  1. Oklahoma City, OK
  2. Tulsa, OK
  3. Lawton, OK
  4. Stillwater, OK
  5. Muskogee, OK

Furthermore, BancFirst of Oklahoma is our top ranked mortgage lender in terms of interest rate and closing costs in:

  1. Lawton, OK, for FHA mortgages
  2. Muskogee, OK, for Conforming mortgages
  3. Ardmore, OK, for Conforming mortgages
  4. Elk City, OK, overall

You can click through to check out BancFirst of Oklahoma’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

BancFirst of Oklahoma’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, BancFirst of Oklahoma originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo and VA mortgages for refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.09%-0.12%+0.00%-0.06%-0.02%
Loan Related Closing Cost Difference-$43-$2+$3+$13+$8
Cost Adjusted Rate Difference-0.10%-0.12%+0.00%-0.05%-0.02%
Star Rating(4.0)(4.0)(3.5)(4.0)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference+0.07%-0.01%+0.01%-0.02%
Loan Related Closing Cost Difference-$225-$20-$19-$34
Cost Adjusted Rate Difference+0.03%-0.01%+0.01%-0.02%
Star Rating(3.5)(3.5)(3.5)(3.5)

As a summary, BancFirst of Oklahoma is cheap for Conforming, FHA and USDA purchase mortgages. It is similar to other lenders for Jumbo and VA purchase mortgages. For refinancing mortgages, BancFirst of Oklahoma is similar to other lenders for Conforming, FHA, Jumbo and VA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about BancFirst of Oklahoma:

Registered name: Bancfirst
Registered city and state: OKLAHOMA CITY, OK, 73102-8405
Regulator: Federal Deposit Insurance Corporation (FDIC)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for BancFirst of Oklahoma’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.