Washita Mortgage Rates, Fees & Info

Chickasha, OK

LEI: 549300PUQVJBMGHE3G79

Tax ID: 73-1488004

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Washita Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. Washita Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Oklahoma City, Lawton, Tulsa, Dallas, and Duncan among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Washita Mortgage has an above average approval rate when compared to the average across all lenders. Washita Mortgage is typically a low 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    61

    Origination Dollar Volume (All Markets)

    $10,585,000

    Awards

    Washita Mortgage 30 Year Conventional Loans gold
    Show all (1) awards

    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
    OKLAHOMA CITY, OK (FHA|USDA|VA) 41 $6,535,000 $159,390 $4,414 4.63%
    LAWTON, OK (FHA|USDA|VA) 13 $2,695,000 $207,308 $4,724 4.69%
    Outside of Metro Areas 4 $760,000 $190,000 $4,101 4.22%
    TULSA, OK (FHA|USDA|VA) 1 $385,000 $385,000 $5,663 4.38%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $135,000 $135,000 $3,397 5.13%
    Duncan, OK (FHA|USDA|VA) 1 $75,000 $75,000 $2,673 4.75%
    Washita Mortgage's top markets include Oklahoma City, Lawton, Tulsa, Dallas, and Duncan among others.

    Their top states include:
  • Oklahoma (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Washita Mortgage based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Municipal Employees Credit Union of Oklahoma City
    Similarity Rank: 89
    WEOKIE
    Similarity Rank: 120
    First Fidelity Bank
    Similarity Rank: 180
    TRUE SKY
    Similarity Rank: 240
    Affiliated Bank
    Similarity Rank: 300
    Washita Mortgage, Inc.
    Similarity Rank: 612
    US Employees O.C. Federal Credit Union
    Similarity Rank: 620
    OKLAHOMA'S
    Similarity Rank: 714
    CWM PARTNERS, L.P.
    Similarity Rank: 918
    COMMUNICATION
    Similarity Rank: 1020

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 45 $8,365,000 $185,889 $4,252 4.63%
    USDA 10 $1,000,000 $100,000 $4,115 4.77%
    FHA 4 $690,000 $172,500 $5,923 4.36%
    VA 2 $530,000 $265,000 $7,179 4.19%

    For 2018, Washita Mortgage's most frequently originated type of loan was Conventional, with 45 originations. Their 2nd most popular type was USDA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 40 $6,670,000 $166,750 $4,295 4.64%
    Refi 16 $3,280,000 $205,000 $4,814 4.53%
    Cash Out Refi 5 $635,000 $127,000 $4,337 4.76%

    For 2018, Washita Mortgage's most frequently cited loan purpose was Home Purchase, with 40 originations. The 2nd most popular reason was Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 51 $9,355,000 $183,431 $4,540 4.66%
    15 Year 6 $740,000 $123,333 $3,159 4.29%
    10 Year 2 $150,000 $75,000 $4,527 4.44%
    20 Year 2 $340,000 $170,000 $5,478 4.85%

    For 2018, Washita Mortgage's most frequently cited loan duration was 30 Year, with 51 originations. The 2nd most popular length was 15 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 24 $3,690,000 $153,750
    $<1k 22 $3,260,000 $148,182
    $2k-3k 10 $2,030,000 $203,000
    $3k-4k 2 $650,000 $325,000
    $5k+ 1 $425,000 $425,000

    Washita Mortgage's average total fees were $4,540, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 24 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 52 $9,130,000 $175,577
    5-6% 6 $650,000 $108,333
    3-4% 3 $805,000 $268,333

    During 2018, Washita Mortgage's average interest rate for loans was 4.66%, while their most frequently originated rate bucket for loans was 4-5%, with 52 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 26 $3,530,000 $135,769 $4,092 4.73%
    $200k-400k 19 $5,165,000 $271,842 $4,850 4.39%
    $100,000 or less 14 $1,010,000 $72,143 $3,770 4.81%
    $400k-600k 2 $880,000 $440,000 $9,600 4.25%

    2018 saw Washita Mortgage place emphasis on $100k-200k loans with 26 originations, totaling $3,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 15 $2,455,000 $163,667 $4,026 4.72%
    $50k or less 13 $1,185,000 $91,154 $3,514 4.90%
    $50k-75k 12 $1,670,000 $139,167 $4,353 4.61%
    $100k-150k 10 $2,130,000 $213,000 $5,038 4.49%
    $150k-250k 6 $1,750,000 $291,667 $4,651 4.25%
    $250k+ 5 $1,395,000 $279,000 $6,785 4.35%

    Washita Mortgage lent most frequently to those with incomes in the $75k-100k range, with 15 originations. The second most popular income band? $50k or less, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 19 $3,435,000 $180,789 $4,769 4.67%
    30-36% 12 $2,180,000 $181,667 $4,193 4.58%
    <20% 10 $1,630,000 $163,000 $4,543 4.53%
    37% 4 $910,000 $227,500 $6,055 4.34%
    36% 3 $905,000 $301,667 $3,628 4.62%
    39% 2 $320,000 $160,000 $4,987 4.79%
    38% 2 $150,000 $75,000 $3,697 4.91%
    41% 2 $180,000 $90,000 $3,537 5.00%
    42% 2 $180,000 $90,000 $3,044 4.81%
    44% 2 $250,000 $125,000 $4,312 4.06%
    40% 1 $175,000 $175,000 $2,908 5.13%
    48% 1 $135,000 $135,000 $3,603 4.75%
    45% 1 $135,000 $135,000 $3,398 4.75%

    Washita Mortgage lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? 30-36%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 58 $10,130,000 $174,655 $4,496 4.62%
    Black 2 $370,000 $185,000 $3,087 4.69%
    American Indian 1 $85,000 $85,000 $3,553 4.95%

    Approval Rates

    Total approvals of all applications
    93.85%

    Washita Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 61 $10,585,000 $173,525

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 61 $10,585,000 $173,525

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $160,000 $80,000 $3,653 4.81%
    40-60% 5 $595,000 $119,000 $3,951 4.69%
    60-80% 17 $3,795,000 $223,235 $4,960 4.50%
    80-100% 35 $5,795,000 $165,571 $4,295 4.65%
    Over 100% 2 $240,000 $120,000 $4,408 4.85%