Bank of Oklahoma Online Banking
Logo Bank of Oklahoma Online Banking

Bank of Oklahoma Online Banking

Bank of Oklahoma was founded in 1910 as the Exchange National Bank of Tulsa that rose from the Farmers National Bank that had previously failed. The Exchange National Bank of Tulsa survived The Great Depression thanks to wealthy oil men in Tulsa, two of which were J.A. Chapman and William G. Skelly, put their own money in to help it survive. It was reorganized as the National Bank of Tulsa in 1933 and in 1975, it became the Bank of Oklahoma (BOK).

The Bank of Oklahoma online mortgage rate calculators are useful tools to help individuals determine more details about home loans, refinancing, whether they should rent or buy, and other important details that apply to obtaining financing for a home.

Rates

Individuals must apply for a mortgage loan to determine the interest rate (%) for their situation. Bank of Oklahoma allows online applications, applications by phone (800) 234-6181, or at a bank center in person.

Calculators List

How to Calculate

ARM vs. Fixed Rate Mortgage – The individual can enter information based on a Fixed Rate Mortgage, a Fully Amortized ARM, and an Interest Only ARM. Enter the following information:

BOK ARM VS Fixed Rate Mortgage Calculator

  • Fixed Rate Mortage:
    • Mortgage Amount
    • Terms in Years
    • Interest Rate
    • Report Amortization Annually or Monthly
  • Fully Amortizing ARM:
    • Initial Interest Rate
    • Number of Months Fixed Rate
    • Expected Adjustment (%)
    • Interest Rate Cap (%)
  • Interest Only ARM:
    • Initial Interest Rate
    • Number of Months Fixed Rate
    • Expected Adjustment (%)
    • Interest Rate Cap (%)

The graph and amounts will update as the information is changed. Additionally, the user can click View Report to get a detailed summary of the calculations.

FHA Mortgage Loan Calculator

Enter the following information into the calculator:

  • Maximum FHA Financing:
    • FHA Down Payment Required
    • Contract Sales Price
    • Appraised Home Value
    • Required Adjustments
  • Total Cash to Close:
    • Borrower-Paid Closing Costs
    • Prepaid Expenses
    • Discount Points
    • Repairs/Improvements (non-financeable)
    • MIP Paid in Cash
    • Non-Realty and Other Items

The calculations are updated automatically as information is entered. Additionally, the Calculate or View Report buttons work to calculate totals as well.

Mortgage Comparison: 15 Years vs. 30 Years

To determine what your mortgage will be monthly based on a 15 year or 30 year term, input the following data:

  • Mortgage Amount
  • Marginal Tax Rate
  • Interest Rate for 15 Years
  • Interest Rate for 30 Years

The  calculator updates automatically as you enter the information and move to the next field, but the individual may click calculate or view report to obtain a detailed chart.

Mortgage Loan Calculator (PITI)

To use this calculator to determine the amortization schedule for your mortgage, enter:

  • Mortgage Amount
  • Term in Years
  • Interest Rate
  • Annual Property Taxes
  • Annual Home Insurance
  • Report Amortization Monthly or Annually

Enter in the information and the calculator updates automatically. Alternatively, the user can press Calculate or View Report for an easy to read chart.

Rent vs. Buy

To help decide when to rent and when to buy, use the calculator and enter the following information:

  • Mortgage and Home Expenses
    • Purchase Price
    • Interest Rate
    • Term in Years
    • Property Tax Rate
    • Home Insurance
    • Maintenance Fees
    • Report Amortization Annually or Monthly
  • Down Payment and Closing Costs:
    • Cash on Hand
    • Loan Origination
    • Points Paid
    • Other Closing Costs
    • Limit Down Payment to 20% (check or leave blank)
  • Rent, Taxes, and Inflation:
    • Monthly Rent
    • After Tax Investment Return
    • Income Tax Rate
    • Expected Inflation
    • Home Appreciation (%)
    • Future Sales Commission (%)

The data updates as you type or use the sliders. Users can also click Calculate or View Report at anytime to get their information.

Refinance Break Even

Input the following information to find out how long it will take to break even on a mortgage refinance:

  • Original Mortgage:
    • Amount
    • Appraised Value
    • Original Interest Rate
    • Term in Years
    • Years Remaining
    • Income Tax Rate
    • Report Amortization Annually or Monthly
  • New Mortgage:
    • Click to Calculate Loan Balance or Enter Your Own
    • Appraised Value
    • Interest Rate
    • Term in Years
    • Loan Origination Rate
    • Points Paid
    • Other Closing Costs
    • Click to Not Include Any PMI

The calculator updates as information is entered or the user can click Calculate or View Report to get results.

Bi-weekly Payments for an Existing Mortgage

Enter the following information about the current mortgage:

  • First Payment Date
  • Original Mortgage Amount
  • Interest Rate
  • Original Mortgage Term
  • Monthly Escrow Payment
  • Monthly Prepayment Amount

Information updates automatically, but the user can also use the Calculate or View Report button to get updated results.

Blended Rate Mortgage Calculator

To determine if obtaining two loans for a mortgage is the best option, enter this information into the calculator:

  • Your Home Purchase:
    • Purchase Price
    • Down Payment
    • Amortize Annually or Monthly
  • Loan One:
    • Loan Amount
    • Interest Rate
    • Term in Years
    • Check for Interest Only
  • Loan Two:
    • Loan Amount
    • Interest Rate
    • Term in Years
    • Check for Interest Only

The calculator will display updated information after each value is typed. An individual can also click on the Calculate or View Report button for updated information.