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 and Refi loans. O Bee has a high proportion of conventional loans. Their top markets by origination volume include: Olympia, Seattle, Centralia, Shelton, and Aberdeen among others. We have data for 14 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% | 4/18/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
363Origination Dollar Volume (All Markets)
$39,585,000Top 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) | 238 | $24,150,000 | $101,471 | $4,468 | 5.37% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 73 | $8,335,000 | $114,178 | $4,269 | 5.54% |
| Centralia, WA (FHA|USDA|VA) | 12 | $1,430,000 | $119,167 | $3,750 | 5.12% |
| Outside of Metro Areas | 14 | $1,350,000 | $96,429 | $0 | 4.87% |
| Shelton, WA (FHA|USDA|VA) | 7 | $965,000 | $137,857 | $3,592 | 5.84% |
| Aberdeen, WA (FHA|USDA|VA) | 8 | $920,000 | $115,000 | $3,161 | 4.97% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $5,308 | 4.67% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $0 | 4.38% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,573 | 5.00% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $6,488 | 5.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 4.75% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 5.00% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 6.25% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,745 | 4.50% |
Their top states include:
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 268 | $23,920,000 | $89,254 | n/a | 5.53% |
| Conventional | 95 | $15,665,000 | $164,895 | $4,194 | 4.88% |
For 2019, O Bee's most frequently originated type of loan was HELOC, with 268 originations. Their 2nd most popular type was Conventional, with 95 originations.
Loan Reason
For 2019, O Bee's most frequently cited loan purpose was Other, with 165 originations. The 2nd most popular reason was Home Improvement, with 94 originations.
Loan Duration/Length
For 2019, O Bee's most frequently cited loan duration was Other, with 276 originations. The 2nd most popular length was 30 Year, with 39 originations.
Origination Fees/Closing Costs
O Bee's average total fees were $5,379, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 16 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 147 | $21,665,000 | $147,381 |
| 5-6% | 147 | $12,345,000 | $83,980 |
| 6-7% | 46 | $4,230,000 | $91,957 |
| 3-4% | 14 | $530,000 | $37,857 |
| 7-8% | 9 | $815,000 | $90,556 |
During 2019, O Bee's average interest rate for loans was 4.74%, while their most frequently originated rate bucket for loans was 4-5%, with 147 originations.
Loan Sizing
2019 saw O Bee place emphasis on $100,000 or less loans with 231 originations, totaling $11,385,000 in origination value.
Applicant Income
O Bee lent most frequently to those with incomes in the $100k-150k range, with 95 originations. The second most popular income band? $150k-250k, with 86 originations.
Applicant Debt to Income Ratio
O Bee lent most frequently to those with DTI ratios of 20-30%, with 87 originations. The next most common DTI ratio? 30-36%, with 78 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.80%
O Bee has an average approval rate.
Pick Rate
Approvals leading to origination82.09%
O Bee has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 363 | $39,585,000 | $109,050 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 8 | $650,000 | $81,250 |
| Single Family (1-4 Units):Site-Built | 355 | $38,935,000 | $109,676 |