Mobiloil Mortgage Rates, Fees & Info
Beaumont, TXLEI: 549300SWDNGYGQBG4K69
Tax ID: 74-1115584
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Mortgage Data
Review & Overview
Mobiloil is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Mobiloil has a high proportion of conventional loans. Their top markets by origination volume include: Beaumont, Houston, College Station, and Corpus Christi among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Mobiloil 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. Mobiloil 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 relatively high 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.72% | 5/4/24 |
| 30 Year Conventional Refi | 5.68% | 5/4/24 |
| 30 Year Cash-out Refi | 5.87% | 5/4/24 |
| 30 Year VA Purchase | 7.20% | 5/4/24 |
| 15 Year Conventional Purchase | 6.07% | 5/4/24 |
| 15 Year Conventional Refi | 5.76% | 5/4/24 |
| 15 Year Cash-out Refi | 5.76% | 5/4/24 |
| 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. | ||
Mobiloil Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
159Origination Dollar Volume (All Markets)
$16,265,000Awards
MOBILOIL - 2019
MOBILOIL is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 119 | $11,985,000 | $100,714 | $1,597 | 5.10% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 18 | $2,440,000 | $135,556 | $2,957 | 4.89% |
| Outside of Metro Areas | 20 | $1,450,000 | $72,500 | $1,527 | 5.69% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,027 | 3.50% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,713 | 4.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against MOBILOIL based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 125
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Similarity Rank: 750
Similarity Rank: 888
Similarity Rank: 894
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 158 | $16,070,000 | $101,709 | $1,769 | 5.13% |
| VA | 1 | $195,000 | $195,000 | $5,035 | 4.75% |
For 2019, Mobiloil's most frequently originated type of loan was Conventional, with 158 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
For 2019, Mobiloil's most frequently cited loan purpose was Cash Out Refi, with 58 originations. The 2nd most popular reason was Home Purchase, with 35 originations.
Loan Duration/Length
For 2019, Mobiloil's most frequently cited loan duration was 30 Year, with 63 originations. The 2nd most popular length was 15 Year, with 47 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 126 | $9,820,000 | $77,937 |
| $1k-2k | 17 | $3,065,000 | $180,294 |
| $2k-3k | 12 | $2,310,000 | $192,500 |
| $3k-4k | 4 | $1,070,000 | $267,500 |
Mobiloil's average total fees were $2,777, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 126 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 63 | $5,795,000 | $91,984 |
| 5-6% | 48 | $4,310,000 | $89,792 |
| 6-7% | 22 | $1,690,000 | $76,818 |
| 3-4% | 21 | $4,085,000 | $194,524 |
| 7-8% | 5 | $385,000 | $77,000 |
During 2019, Mobiloil's average interest rate for loans was 5.37%, while their most frequently originated rate bucket for loans was 4-5%, with 63 originations.
Loan Sizing
2019 saw Mobiloil place emphasis on $100,000 or less loans with 99 originations, totaling $5,605,000 in origination value.
Applicant Income
Mobiloil lent most frequently to those with incomes in the $50k-75k range, with 43 originations. The second most popular income band? $75k-100k, with 34 originations.
Applicant Debt to Income Ratio
Mobiloil lent most frequently to those with DTI ratios of 20-30%, with 40 originations. The next most common DTI ratio? 30-36%, with 34 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.61%
Mobiloil has a below average approval rate.
Pick Rate
Approvals leading to origination22.01%
Mobiloil has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 159 | $16,265,000 | $102,296 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 159 | $16,265,000 | $102,296 |