O Bee Mortgage Rates, Fees & Info
TUMWATER, WALEI: 549300ML3H1LUVR1FP75
Tax ID: 91-0639210
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.88% | 4/18/24 |
| 30 Year Conventional Purchase | 6.49% | 4/18/24 |
| 30 Year Conventional Refi | 6.65% | 4/18/24 |
| 15 Year Conventional Purchase | 6.52% | 4/18/24 |
| 15 Year Conventional Refi | 5.57% | 4/18/24 |
| 15 Year Cash-out Refi | 5.57% | 4/18/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
461Origination Dollar Volume (All Markets)
$73,195,000Awards
O BEE - 2023
O BEE is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against O BEE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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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
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
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
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
2023 saw O Bee place emphasis on $100,000 or less loans with 210 originations, totaling $12,240,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications81.41%
O Bee has a below average approval rate.
Pick Rate
Approvals leading to origination70.07%
O Bee has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 461 | $73,195,000 | $158,774 |