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 Other, Refi, and Home Purchase loans. O Bee has an average proportion of conventional loans. Their top markets by origination volume include: Olympia, Seattle, and Centralia among others. We have data for 4 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 about average 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% | 4/14/24 |
| 30 Year Conventional Purchase | 6.49% | 4/14/24 |
| 30 Year Conventional Refi | 6.65% | 4/14/24 |
| 15 Year Conventional Purchase | 6.52% | 4/14/24 |
| 15 Year Conventional Refi | 5.57% | 4/14/24 |
| 15 Year Cash-out Refi | 5.57% | 4/14/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
599Origination Dollar Volume (All Markets)
$57,625,000Top 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) | 408 | $37,970,000 | $93,064 | $3,620 | 4.87% |
| Outside of Metro Areas | 113 | $12,205,000 | $108,009 | $3,507 | 4.95% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 77 | $7,415,000 | $96,299 | $5,161 | 5.14% |
| Centralia, WA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.49% |
Their top states include:
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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 | 504 | $40,700,000 | $80,754 | n/a | 4.90% |
| Conventional | 95 | $16,925,000 | $178,158 | $3,713 | 4.98% |
For 2018, O Bee's most frequently originated type of loan was HELOC, with 504 originations. Their 2nd most popular type was Conventional, with 95 originations.
Loan Reason
For 2018, O Bee's most frequently cited loan purpose was Other, with 264 originations. The 2nd most popular reason was Home Improvement, with 148 originations.
Loan Duration/Length
For 2018, O Bee's most frequently cited loan duration was Other, with 520 originations. The 2nd most popular length was 30 Year, with 37 originations.
Origination Fees/Closing Costs
O Bee's average total fees were $5,254, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 25 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 370 | $36,450,000 | $98,514 |
| 5-6% | 121 | $11,455,000 | $94,669 |
| 6-7% | 58 | $4,490,000 | $77,414 |
| 3-4% | 48 | $5,060,000 | $105,417 |
| 7-8% | 2 | $170,000 | $85,000 |
During 2018, O Bee's average interest rate for loans was 4.77%, while their most frequently originated rate bucket for loans was 4-5%, with 370 originations.
Loan Sizing
2018 saw O Bee place emphasis on $100,000 or less loans with 408 originations, totaling $20,080,000 in origination value.
Applicant Income
O Bee lent most frequently to those with incomes in the $100k-150k range, with 151 originations. The second most popular income band? $50k-75k, with 134 originations.
Applicant Debt to Income Ratio
O Bee lent most frequently to those with DTI ratios of 20-30%, with 138 originations. The next most common DTI ratio? 30-36%, with 136 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.21%
O Bee has an average approval rate.
Pick Rate
Approvals leading to origination87.48%
O Bee has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 2 | $420,000 | $210,000 |
| NA | 597 | $57,205,000 | $95,821 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 13 | $1,125,000 | $86,538 |
| Single Family (1-4 Units):Site-Built | 586 | $56,500,000 | $96,416 |