O Bee Mortgage Rates, Fees & Info

TUMWATER, WA

LEI: 549300ML3H1LUVR1FP75

Tax ID: 91-0639210

5 stars - Updated: 12/9/24 - out of 5 stars, based on 21 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

O Bee is a smaller mortgage company specializing in Home Improvement, Other, and Home Purchase loans. O Bee has an average proportion of conventional loans. Their top markets by origination volume include: Olympia, Seattle, Centralia, Shelton, and Aberdeen among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

O Bee has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. O Bee is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 5.88% 12/9/24
30 Year Conventional Purchase 6.49% 12/9/24
30 Year Conventional Refi 6.65% 12/9/24
15 Year Conventional Purchase 6.52% 12/9/24
15 Year Conventional Refi 5.57% 12/9/24
15 Year Cash-out Refi 5.57% 12/9/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

O Bee Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from O Bee. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

461

Origination Dollar Volume (All Markets)

$73,195,000

Awards

O BEE 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

O Bee's average 30 year fixed mortgage rate was 6.96%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.48%.

Relative Fees (Closing Costs)

O Bee's average total fees/closing costs for a 30 year fixed rate mortgage were $6,077.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 246 $37,050,000 $150,610 $4,742 7.99%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 138 $24,430,000 $177,029 $5,960 8.10%
Centralia, WA (FHA|USDA|VA) 23 $2,775,000 $120,652 $4,320 7.96%
Shelton, WA (FHA|USDA|VA) 18 $2,520,000 $140,000 $4,250 7.90%
Aberdeen, WA (FHA|USDA|VA) 12 $1,990,000 $165,833 $5,015 7.90%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 7 $1,455,000 $207,857 $5,466 7.43%
Moses Lake, WA (FHA|USDA|VA) 1 $705,000 $705,000 $0 9.25%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 3 $525,000 $175,000 $3,384 7.54%
Outside of Metro Areas 4 $480,000 $120,000 $4,469 7.66%
BELLINGHAM, WA (FHA|USDA|VA) 2 $400,000 $200,000 $0 8.38%
WENATCHEE, WA (FHA|USDA|VA) 1 $275,000 $275,000 $5,626 6.38%
Port Angeles, WA (FHA|USDA|VA) 1 $205,000 $205,000 $0 9.25%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $115,000 $115,000 $0 9.25%
Pullman, WA (FHA|USDA|VA) 1 $105,000 $105,000 $0 9.00%
Oak Harbor, WA (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.75%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.75%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.75%
O Bee's top markets include Olympia, Seattle, Centralia, Shelton, and Aberdeen among others.

Their top states include:
  • Washington (FHA|USDA|VA)
  • Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 384 $53,410,000 $139,089 n/a 8.17%
    Conventional 77 $19,785,000 $256,948 $5,031 7.25%

    For 2023, O Bee's most frequently originated type of loan was HELOC, with 384 originations. Their 2nd most popular type was Conventional, with 77 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 173 $19,895,000 $115,000 $0 8.06%
    Other 154 $18,250,000 $118,506 $1,741 8.26%
    Home Purchase 80 $22,370,000 $279,625 $6,972 7.72%
    Refi 36 $8,180,000 $227,222 $3,556 7.89%
    Cash Out Refi 18 $4,500,000 $250,000 $4,454 7.03%

    For 2023, O Bee's most frequently cited loan purpose was Home Improvement, with 173 originations. The 2nd most popular reason was Other, with 154 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 394 $54,970,000 $139,518 $2,896 8.16%
    30 Year 54 $17,110,000 $316,852 $6,077 6.96%
    15 Year 9 $685,000 $76,111 $1,697 8.49%
    10 Year 3 $325,000 $108,333 $3,165 7.38%
    5 Year 1 $105,000 $105,000 $3,361 5.99%

    For 2023, O Bee's most frequently cited loan duration was Other, with 394 originations. The 2nd most popular length was 30 Year, with 54 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $4k-5k 20 $7,180,000 $359,000
    $1k-2k 15 $1,275,000 $85,000
    $2k-3k 14 $2,320,000 $165,714
    $3k-4k 10 $2,660,000 $266,000
    $5k+ 10 $5,980,000 $598,000
    $<1k 7 $335,000 $47,857

    O Bee's average total fees were $6,077, while their most frequently occuring range of origination fees (closing costs) were in the $4k-5k bucket, with 20 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 214 $33,140,000 $154,860
    Over 8% 200 $27,590,000 $137,950
    6-7% 46 $12,360,000 $268,696
    5-6% 1 $105,000 $105,000

    During 2023, O Bee's average interest rate for loans was 6.96%, while their most frequently originated rate bucket for loans was 7-8%, with 214 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 210 $12,240,000 $58,286 $1,883 8.09%
    $100k-200k 123 $16,245,000 $132,073 $3,432 8.16%
    $200k-400k 102 $28,450,000 $278,922 $5,710 7.82%
    $400k-600k 15 $7,245,000 $483,000 $8,345 7.21%
    $600k-1MM 10 $7,010,000 $701,000 $11,127 7.84%
    $1MM+ 1 $2,005,000 $2,005,000 $0 7.75%

    2023 saw O Bee place emphasis on $100,000 or less loans with 210 originations, totaling $12,240,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 127 $19,535,000 $153,819 $4,468 8.10%
    $100k-150k 103 $15,375,000 $149,272 $5,956 8.03%
    $75k-100k 98 $10,030,000 $102,347 $4,551 8.17%
    $250k+ 62 $21,950,000 $354,032 $6,701 7.76%
    $50k-75k 57 $5,225,000 $91,667 $3,214 7.81%
    $50k or less 14 $1,080,000 $77,143 $2,794 7.95%

    O Bee lent most frequently to those with incomes in the $150k-250k range, with 127 originations. The second most popular income band? $100k-150k, with 103 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 64 $9,830,000 $153,594 $5,714 7.60%
    30-36% 62 $8,860,000 $142,903 $4,840 8.04%
    50-60% 59 $10,995,000 $186,356 $6,242 8.15%
    <20% 30 $7,790,000 $259,667 $5,043 7.49%
    48% 29 $4,565,000 $157,414 $4,900 8.24%
    49% 24 $3,430,000 $142,917 $4,141 8.03%
    45% 22 $2,390,000 $108,636 $1,540 8.45%
    41% 21 $2,425,000 $115,476 $3,787 8.04%
    42% 20 $1,870,000 $93,500 $2,723 8.01%
    47% 20 $2,440,000 $122,000 $4,658 8.02%
    44% 19 $3,435,000 $180,789 $7,327 8.13%
    39% 19 $2,225,000 $117,105 $3,679 8.05%
    46% 16 $2,300,000 $143,750 $6,493 7.95%
    37% 14 $1,770,000 $126,429 $0 8.23%
    40% 10 $840,000 $84,000 $1,118 8.34%
    38% 9 $1,225,000 $136,111 $0 8.17%
    43% 8 $1,980,000 $247,500 $5,079 8.61%
    36% 6 $1,000,000 $166,667 $7,618 7.63%
    >60% 6 $2,990,000 $498,333 $0 8.54%

    O Bee lent most frequently to those with DTI ratios of 20-30%, with 64 originations. The next most common DTI ratio? 30-36%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 259 $36,435,000 $140,676 $4,046 8.05%
    Not provided 166 $32,130,000 $193,554 $5,681 7.89%
    Asian 16 $2,240,000 $140,000 $7,192 8.49%
    American Indian 7 $965,000 $137,857 $6,407 8.04%
    Black 8 $730,000 $91,250 $4,796 8.41%
    Native Hawaiian 1 $315,000 $315,000 $4,888 7.25%
    Native Hawaiian or Islander 2 $190,000 $95,000 $0 8.38%
    Asian Indian 1 $125,000 $125,000 $0 9.25%
    Guamanian 1 $65,000 $65,000 $0 8.00%

    Approval Rates

    Total approvals of all applications
    81.41%

    O Bee has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    70.07%

    O Bee has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 461 $73,195,000 $158,774

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    461 $73,195,000 $158,774

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 132 $24,320,000 $184,242 $3,637 8.11%
    40-60% 37 $9,905,000 $267,703 $5,187 8.22%
    60-80% 44 $18,770,000 $426,591 $6,837 7.24%
    80-100% 7 $2,805,000 $400,714 $6,798 7.04%
    Under 20% 241 $17,395,000 $72,178 $2,090 8.10%