Arvest Bank Mortgage Interest Rate and Cost Review

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

Interest Ratesimilar to average (-0.03%)
Loan Related Closing Costssimilar to average (-$151)
National Rate and Closing Cost Rating(3.5)
Websitehttps://www.arvest.com

On average, Arvest Bank’s interest rates were similar to those of other lenders (-0.03%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$151. Overall, combining interest rates and closing costs we estimate that Arvest Bank tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5.0 stars.

Arvest Bank’s Rates by Area

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

  1. Fayetteville, AR
  2. Tulsa, OK
  3. Little Rock, AR
  4. Kansas City, MO
  5. Fort Smith, AR

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

  1. Fayetteville, AR, for FHA mortgages
  2. Russellville, AR, for FHA, and VA mortgages
  3. Joplin, MO, for Jumbo mortgages
  4. Grove, OK, overall
  5. Hot Springs, AR, for FHA, and VA mortgages
  6. Bartlesville, OK, for FHA mortgages
  7. Harrison, AR, for FHA, and VA mortgages
  8. Mount Vernon, MO, for FHA, and VA mortgages
  9. Branson, MO, overall

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

Arvest Bank’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, Arvest Bank originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and 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.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.00%-0.18%+0.01%-0.06%-0.04%
Loan Related Closing Cost Difference-$19-$28+$7-$28-$153
Cost Adjusted Rate Difference-0.00%-0.18%+0.01%-0.07%-0.05%
Star Rating(3.5)(4.5)(3.5)(4.0)(3.5)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.02%-0.05%+0.00%-0.00%-0.07%
Loan Related Closing Cost Difference-$320-$147-$1+$1-$393
Cost Adjusted Rate Difference-0.06%-0.06%+0.00%-0.00%-0.11%
Star Rating(4.0)(4.0)(3.5)(3.5)(4.0)

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

Other information about Arvest Bank:

Registered name: Arvest Bank
Registered city and state: TULSA, OK, 74103
Regulator: Consumer Financial Protection Bureau (CFPB)
Top holder: ARVEST BANK GROUP, INC.

* 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 Arvest Bank’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.