O Bee Mortgage Rates, Fees & Info

TUMWATER, WA

LEI: 549300ML3H1LUVR1FP75

Tax ID: 91-0639210

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Mortgage Data

Review & Overview

O Bee is a smaller mortgage company specializing in Home Improvement, Home Purchase, and Refi loans. O Bee has an average proportion of conventional loans. Their top two markets are Olympia and Seattle .

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.

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

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 5.88% 4/21/24
30 Year Conventional Purchase 6.49% 4/21/24
30 Year Conventional Refi 6.65% 4/21/24
15 Year Conventional Purchase 6.52% 4/21/24
15 Year Conventional Refi 5.57% 4/21/24
15 Year Cash-out Refi 5.57% 4/21/24
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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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

589

Origination Dollar Volume (All Markets)

$96,885,000

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) 313 $43,845,000 $140,080 $4,641 3.37%
Outside of Metro Areas 142 $27,910,000 $196,549 $5,394 3.48%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 134 $25,130,000 $187,537 $10,166 3.43%
O Bee's top markets include Olympia and Seattle among others.

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

    O BEE
    Similarity Rank: 447
    SOUND
    Similarity Rank: 2289
    VERITY
    Similarity Rank: 2550
    LO, INC.
    Similarity Rank: 2560
    Bank of the Pacific
    Similarity Rank: 2639
    Shea Mortgage Inc.
    Similarity Rank: 2850
    NorthWest Plus Credit Union
    Similarity Rank: 2961
    TRISTAR FINANCE, INC.
    Similarity Rank: 3224
    America's Credit Union
    Similarity Rank: 3248

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 539 $77,875,000 $144,481 n/a 3.38%
    Conventional 50 $19,010,000 $380,200 $6,178 3.77%

    For 2021, O Bee's most frequently originated type of loan was HELOC, with 539 originations. Their 2nd most popular type was Conventional, with 50 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 260 $29,420,000 $113,154 $953 3.39%
    Other 130 $16,490,000 $126,846 $1,383 3.43%
    Home Purchase 100 $27,810,000 $278,100 $8,681 3.45%
    Refi 99 $23,165,000 $233,990 $5,010 3.40%

    For 2021, O Bee's most frequently cited loan purpose was Home Improvement, with 260 originations. The 2nd most popular reason was Other, with 130 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 541 $78,005,000 $144,187 $1,913 3.38%
    30 Year 36 $16,650,000 $462,500 $7,600 3.72%
    15 Year 7 $1,675,000 $239,286 $4,191 4.23%
    10 Year 5 $555,000 $111,000 $427 3.27%

    For 2021, O Bee's most frequently cited loan duration was Other, with 541 originations. The 2nd most popular length was 30 Year, with 36 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 17 $12,285,000 $722,647
    $1k-2k 7 $535,000 $76,429
    $3k-4k 7 $1,915,000 $273,571
    $4k-5k 7 $2,485,000 $355,000
    $2k-3k 5 $855,000 $171,000
    $<1k 2 $50,000 $25,000

    O Bee's average total fees were $7,600, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 17 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 290 $44,910,000 $154,862
    3-4% 252 $44,740,000 $177,540
    4-5% 36 $6,370,000 $176,944
    5-6% 10 $830,000 $83,000
    6-7% 1 $35,000 $35,000

    During 2021, O Bee's average interest rate for loans was 3.72%, while their most frequently originated rate bucket for loans was 2.5-3%, with 290 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 266 $15,390,000 $57,857 $1,579 3.47%
    $100k-200k 166 $22,320,000 $134,458 $2,754 3.35%
    $200k-400k 118 $33,540,000 $284,237 $5,329 3.33%
    $400k-600k 19 $8,975,000 $472,368 $8,352 3.40%
    $600k-1MM 17 $12,585,000 $740,294 $11,793 3.56%
    $1MM+ 3 $4,075,000 $1,358,333 $20,301 3.49%

    2021 saw O Bee place emphasis on $100,000 or less loans with 266 originations, totaling $15,390,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 177 $22,735,000 $128,446 $4,408 3.42%
    $150k-250k 154 $27,610,000 $179,286 $7,557 3.40%
    $75k-100k 88 $8,800,000 $100,000 $2,352 3.36%
    $250k+ 84 $28,410,000 $338,214 $11,978 3.51%
    $50k-75k 63 $7,015,000 $111,349 $3,851 3.35%
    $50k or less 23 $2,315,000 $100,652 $2,713 3.44%

    O Bee lent most frequently to those with incomes in the $100k-150k range, with 177 originations. The second most popular income band? $150k-250k, with 154 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 142 $24,360,000 $171,549 $4,928 3.32%
    30-36% 108 $19,470,000 $180,278 $9,176 3.55%
    <20% 74 $13,480,000 $182,162 $7,415 3.28%
    50-60% 24 $5,550,000 $231,250 $6,485 3.58%
    36% 23 $3,505,000 $152,391 $6,203 3.34%
    42% 22 $3,870,000 $175,909 $5,315 3.43%
    39% 22 $3,100,000 $140,909 $4,696 3.40%
    47% 22 $3,320,000 $150,909 $4,796 3.50%
    40% 21 $2,595,000 $123,571 $0 3.49%
    37% 19 $2,275,000 $119,737 $8,060 3.44%
    48% 17 $2,065,000 $121,471 $3,922 3.51%
    43% 17 $1,615,000 $95,000 $0 3.53%
    45% 15 $2,415,000 $161,000 $0 3.20%
    38% 15 $2,115,000 $141,000 $0 3.33%
    46% 14 $1,420,000 $101,429 $4,759 3.43%
    41% 14 $2,000,000 $142,857 $0 3.46%
    49% 9 $1,625,000 $180,556 $1,835 3.19%
    44% 9 $1,455,000 $161,667 $3,725 3.61%
    >60% 2 $650,000 $325,000 $0 3.00%

    O Bee lent most frequently to those with DTI ratios of 20-30%, with 142 originations. The next most common DTI ratio? 30-36%, with 108 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 382 $52,620,000 $137,749 $5,821 3.39%
    Not provided 175 $39,205,000 $224,029 $6,418 3.43%
    Asian 16 $3,420,000 $213,750 $0 3.31%
    American Indian 5 $785,000 $157,000 $8,170 4.00%
    Black 7 $565,000 $80,714 $4,614 4.00%
    Guamanian 1 $175,000 $175,000 $0 3.00%
    Native Hawaiian or Islander 3 $115,000 $38,333 $0 3.00%

    Approval Rates

    Total approvals of all applications
    87.04%

    O Bee has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.10%

    O Bee has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 589 $96,885,000 $164,491

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    589 $96,885,000 $164,491

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 188 $32,110,000 $170,798 $2,916 3.36%
    40-60% 59 $16,775,000 $284,322 $3,482 3.28%
    60-80% 36 $15,730,000 $436,944 $7,982 3.61%
    80-100% 21 $11,225,000 $534,524 $8,815 3.51%
    Under 20% 285 $21,045,000 $73,842 $1,440 3.43%