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 Refi, Other, and Home Improvement loans. O Bee has a high proportion of conventional loans. Their top markets by origination volume include: Olympia, Seattle, Shelton, Centralia, and Aberdeen among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)O Bee has an above 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% | 12/16/24 |
| 30 Year Conventional Purchase | 6.49% | 12/16/24 |
| 30 Year Conventional Refi | 6.65% | 12/16/24 |
| 15 Year Conventional Purchase | 6.52% | 12/16/24 |
| 15 Year Conventional Refi | 5.57% | 12/16/24 |
| 15 Year Cash-out Refi | 5.57% | 12/16/24 |
| 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
625Origination Dollar Volume (All Markets)
$89,795,000Top 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) | 395 | $58,045,000 | $146,949 | $1,755 | 3.70% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 126 | $18,170,000 | $144,206 | $2,433 | 3.73% |
| Outside of Metro Areas | 39 | $5,145,000 | $131,923 | $1,834 | 4.02% |
| Shelton, WA (FHA|USDA|VA) | 20 | $2,810,000 | $140,500 | $4,651 | 3.96% |
| Centralia, WA (FHA|USDA|VA) | 17 | $1,895,000 | $111,471 | $2,150 | 40.96% |
| Aberdeen, WA (FHA|USDA|VA) | 8 | $1,260,000 | $157,500 | $410 | 4.23% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 9 | $1,145,000 | $127,222 | $8,157 | 3.63% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,237 | 3.75% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,313 | 3.50% |
| Moses Lake, WA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 3.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 3.49% |
| Port Angeles, WA (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $295 | 3.99% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 3.00% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $295 | 3.24% |
| YAKIMA, WA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 3.00% |
Their top states include:
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 413 | $53,015,000 | $128,366 | n/a | 5.22% |
| Conventional | 212 | $36,780,000 | $173,491 | $1,984 | 3.83% |
For 2020, O Bee's most frequently originated type of loan was HELOC, with 413 originations. Their 2nd most popular type was Conventional, with 212 originations.
Loan Reason
For 2020, O Bee's most frequently cited loan purpose was Refi, with 213 originations. The 2nd most popular reason was Other, with 203 originations.
Loan Duration/Length
For 2020, O Bee's most frequently cited loan duration was Other, with 427 originations. The 2nd most popular length was 10 Year, with 115 originations.
Origination Fees/Closing Costs
O Bee's average total fees were $5,333, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 119 originations.
Interest Rates
During 2020, O Bee's average interest rate for loans was 4.31%, while their most frequently originated rate bucket for loans was 2.5-3%, with 270 originations.
Loan Sizing
2020 saw O Bee place emphasis on $100,000 or less loans with 317 originations, totaling $16,795,000 in origination value.
Applicant Income
O Bee lent most frequently to those with incomes in the $100k-150k range, with 167 originations. The second most popular income band? $150k-250k, with 144 originations.
Applicant Debt to Income Ratio
O Bee lent most frequently to those with DTI ratios of 20-30%, with 159 originations. The next most common DTI ratio? 30-36%, with 118 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.54%
O Bee has an average approval rate.
Pick Rate
Approvals leading to origination79.04%
O Bee has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 2 | $230,000 | $115,000 |
| NA | 623 | $89,565,000 | $143,764 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 24 | $2,960,000 | $123,333 |
| Single Family (1-4 Units):Site-Built | 601 | $86,835,000 | $144,484 |