Washita Mortgage Rates, Fees & Info
Chickasha, OKLEI: 549300PUQVJBMGHE3G79
Tax ID: 73-1488004
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Mortgage Data
Review & Overview
Washita Mortgage is a smaller mortgage company specializing in Home Purchase loans. Washita Mortgage has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Duncan, Ardmore, and Houston among others. We have data for 5 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. They have an above average pick rate when compared to similar 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.
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Originations
25Origination Dollar Volume (All Markets)
$3,425,000Top 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 |
|---|---|---|---|---|---|
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 18 | $2,210,000 | $122,778 | $3,570 | 4.66% |
| Duncan, OK (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $3,607 | 4.29% |
| Ardmore, OK (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,046 | 3.50% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,233 | 4.88% |
| Outside of Metro Areas | 2 | $170,000 | $85,000 | $4,033 | 4.75% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 19 | $2,745,000 | $144,474 | $3,600 | 4.62% |
| USDA | 5 | $635,000 | $127,000 | $3,877 | 4.33% |
| VA | 1 | $45,000 | $45,000 | $2,634 | 5.25% |
For 2019, Washita Mortgage's most frequently originated type of loan was Conventional, with 19 originations. Their 2nd most popular type was USDA, with 5 originations.
Loan Reason
For 2019, Washita Mortgage's most frequently cited loan purpose was Home Purchase, with 20 originations. The 2nd most popular reason was Cash Out Refi, with 3 originations.
Loan Duration/Length
For 2019, Washita Mortgage's most frequently cited loan duration was 30 Year, with 17 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 | 10 | $1,030,000 | $103,000 |
| $1k-2k | 7 | $1,435,000 | $205,000 |
| $2k-3k | 5 | $595,000 | $119,000 |
| $3k-4k | 1 | $135,000 | $135,000 |
Washita Mortgage's average total fees were $3,998, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 19 | $2,585,000 | $136,053 |
| 3-4% | 3 | $715,000 | $238,333 |
| 5-6% | 2 | $110,000 | $55,000 |
| 6-7% | 1 | $15,000 | $15,000 |
During 2019, Washita Mortgage's average interest rate for loans was 4.54%, while their most frequently originated rate bucket for loans was 4-5%, with 19 originations.
Loan Sizing
2019 saw Washita Mortgage place emphasis on $100,000 or less loans with 11 originations, totaling $775,000 in origination value.
Applicant Income
Washita Mortgage lent most frequently to those with incomes in the $50k-75k range, with 9 originations. The second most popular income band? $100k-150k, with 7 originations.
Applicant Debt to Income Ratio
Washita Mortgage lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? <20%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 24 | $3,360,000 | $140,000 | $3,585 | 4.57% |
| American Indian | 1 | $65,000 | $65,000 | $4,376 | 4.88% |
Approval Rates
Total approvals of all applications92.86%
Washita Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination96.00%
Washita Mortgage has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 25 | $3,425,000 | $137,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 25 | $3,425,000 | $137,000 |