Is BancFirst of Oklahoma a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by BancFirst of Oklahoma to those of other lenders for a comparable set of borrowers. Here is our review of BancFirst of Oklahoma nationally:
| Review Item | BancFirst of Oklahoma |
|---|---|
| Interest Rate | similar to other lenders (-0.05%) |
| Loan Related Closing Costs | similar to other lenders (-$78) |
| National Rate and Closing Cost Star Rating | (4) |
On average, BancFirst of Oklahoma’s interest rates were similar to those of other lenders (-0.05%). Its loan related closing costs were also 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 out of 5 stars.
We maintain our independence by not accepting any money from the mortgage lenders we review. To visit BancFirst of Oklahoma, check out its website at: https://www.bancfirst.bank.
BancFirst of Oklahoma’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track BancFirst of Oklahoma was most active in:
In addition, BancFirst of Oklahoma is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
- Lawton, OK, for FHA mortgages
- Muskogee, OK, for Conforming mortgages
- Ardmore, OK, for Conforming mortgages
- Elk City, OK, overall
BancFirst of Oklahoma’s Rate Review 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. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.
| New Purchase Mortgages | Conforming | FHA | Jumbo | USDA | VA |
|---|---|---|---|---|---|
| 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% |
| National Star Rating |
| Refinance Mortgages | Conforming | FHA | Jumbo | VA |
|---|---|---|---|---|
| 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% |
| Average Star Rating |
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 a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about BancFirst of Oklahoma:
Registered city and state: OKLAHOMA CITY, OK, 73102-8405
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: BANCFIRST CORPORATION
* 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.