Mobiloil Mortgage Rates, Fees & Info

Beaumont, TX

LEI: 549300SWDNGYGQBG4K69

Tax ID: 74-1115584

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

Review & Overview

Mobiloil is a smaller mortgage company specializing in Refi and Home Purchase loans. Mobiloil has a high proportion of conventional loans. Their top markets by origination volume include: Beaumont, Houston, and Lufkin among others. We have data for 4 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 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.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.72%	12/16/24
30 Year Conventional Refi	5.68%	12/16/24
30 Year Cash-out Refi	5.87%	12/16/24
30 Year VA Purchase	7.20%	12/16/24
15 Year Conventional Purchase	6.07%	12/16/24
15 Year Conventional Refi	5.76%	12/16/24
15 Year Cash-out Refi	5.76%	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.

Mobiloil Mortgage Calculator

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This is not an official calculator from Mobiloil. 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

290

Origination Dollar Volume (All Markets)

$48,190,000

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
BEAUMONT-PORT ARTHUR, TX (FHA\|USDA\|VA)	188	$30,270,000	$161,011	$3,233	3.63%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA\|USDA\|VA)	48	$10,680,000	$222,500	$4,725	3.19%
Outside of Metro Areas	50	$6,940,000	$138,800	$3,433	3.95%
Lufkin, TX (FHA\|USDA\|VA)	4	$300,000	$75,000	$3,822	3.38%

Mobiloil's top markets include Beaumont, Houston, and Lufkin among others.

Their top states include:

Texas (FHA|USDA|VA)

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.

EDUCATION FIRST
Similarity Rank: 273

MCT Credit Union
Similarity Rank: 315

AAXY L.L.C.
Similarity Rank: 522

SMART CHOICE MORTGAGE, A TEXAS LIMITED LIABILITY C
Similarity Rank: 1140

U S WIDE FINANCIAL LLC
Similarity Rank: 1140

WESTSTAR MORTGAGE CORPORATION
Similarity Rank: 1265

CADENCE LENDING GROUP, INC.
Similarity Rank: 1480

CAPITAL PLUS FINANCIAL, LLC
Similarity Rank: 1508

ADVISA MORTGAGE SERVICES, LTD.
Similarity Rank: 1524

MEMBERS CHOICE Credit Union
Similarity Rank: 1824

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	287	$47,705,000	$166,220	$3,488	3.59%
VA	3	$485,000	$161,667	$6,846	5.29%

For 2020, Mobiloil's most frequently originated type of loan was Conventional, with 287 originations. Their 2nd most popular type was VA, with 3 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	111	$26,565,000	$239,324	$5,345	2.76%
Home Purchase	66	$12,320,000	$186,667	$5,249	3.51%
Cash Out Refi	59	$5,995,000	$101,610	$829	4.52%
Home Improvement	41	$2,345,000	$57,195	$518	4.42%
Other	13	$965,000	$74,231	$902	4.67%

For 2020, Mobiloil's most frequently cited loan purpose was Refi, with 111 originations. The 2nd most popular reason was Home Purchase, with 66 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
15 Year	119	$18,975,000	$159,454	$3,574	3.19%
30 Year	89	$16,355,000	$183,764	$4,364	3.93%
10 Year	40	$3,370,000	$84,250	$921	3.90%
20 Year	24	$6,360,000	$265,000	$3,489	4.05%
5 Year	8	$320,000	$40,000	$281	3.53%
30+ year	7	$2,345,000	$335,000	$10,151	3.46%
Other	3	$465,000	$155,000	$4,666	4.13%

For 2020, Mobiloil's most frequently cited loan duration was 15 Year, with 119 originations. The 2nd most popular length was 30 Year, with 89 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	126	$14,890,000	$118,175
$1k-2k	66	$8,620,000	$130,606
$2k-3k	57	$10,705,000	$187,807
$3k-4k	27	$7,935,000	$293,889
$4k-5k	10	$3,950,000	$395,000
$5k+	4	$2,090,000	$522,500

Mobiloil's average total fees were $4,364, 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
3-4%	87	$12,815,000	$147,299
4-5%	67	$7,355,000	$109,776
2.5-3%	62	$14,760,000	$238,065
<2.5%	48	$10,830,000	$225,625
5-6%	20	$2,030,000	$101,500
6-7%	6	$400,000	$66,667

During 2020, Mobiloil's average interest rate for loans was 3.93%, while their most frequently originated rate bucket for loans was 3-4%, with 87 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	111	$6,925,000	$62,387	$1,080	4.28%
$100k-200k	101	$14,515,000	$143,713	$3,718	3.31%
$200k-400k	64	$17,360,000	$271,250	$6,393	3.02%
$400k-600k	10	$4,600,000	$460,000	$7,973	3.37%
$600k-1MM	3	$2,025,000	$675,000	$8,151	2.58%
$1MM+	1	$2,765,000	$2,765,000	$12,862	2.75%

2020 saw Mobiloil place emphasis on $100,000 or less loans with 111 originations, totaling $6,925,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	81	$11,585,000	$143,025	$3,200	3.66%
$150k-250k	66	$14,810,000	$224,394	$5,302	3.16%
$75k-100k	46	$5,940,000	$129,130	$2,951	3.68%
$50k-75k	44	$3,870,000	$87,955	$2,010	4.07%
$50k or less	30	$2,290,000	$76,333	$2,245	3.91%
$250k+	15	$8,235,000	$549,000	$6,270	3.33%

Mobiloil lent most frequently to those with incomes in the $100k-150k range, with 81 originations. The second most popular income band? $150k-250k, with 66 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	87	$13,675,000	$157,184	$3,436	3.49%
30-36%	57	$12,445,000	$218,333	$3,718	3.56%
<20%	24	$3,940,000	$164,167	$4,691	2.99%
43%	18	$2,590,000	$143,889	$3,255	3.78%
38%	16	$2,180,000	$136,250	$3,454	3.86%
40%	15	$2,285,000	$152,333	$3,275	3.85%
41%	14	$2,080,000	$148,571	$3,224	4.28%
36%	13	$2,065,000	$158,846	$4,341	3.39%
37%	12	$2,190,000	$182,500	$3,443	3.59%
44%	11	$1,405,000	$127,727	$2,541	3.75%
42%	7	$635,000	$90,714	$1,449	4.63%
39%	5	$755,000	$151,000	$3,799	3.25%
45%	4	$590,000	$147,500	$3,864	3.84%
46%	2	$270,000	$135,000	$3,444	4.06%
49%	2	$710,000	$355,000	$5,968	3.56%
50-60%	2	$280,000	$140,000	$283	4.63%
47%	1	$95,000	$95,000	$275	4.00%

Mobiloil lent most frequently to those with DTI ratios of 20-30%, with 87 originations. The next most common DTI ratio? 30-36%, with 57 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	221	$37,545,000	$169,887	$3,480	3.60%
Not provided	42	$7,410,000	$176,429	$4,024	3.50%
Black	22	$2,490,000	$113,182	$3,061	3.83%
American Indian	4	$640,000	$160,000	$3,142	4.09%
Asian	1	$105,000	$105,000	$3,565	2.75%

Approval Rates

Total approvals of all applications
75.53%

Mobiloil has a below average approval rate.

Pick Rate

Approvals leading to origination
43.10%

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	290	$48,190,000	$166,172

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	290	$48,190,000	$166,172

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	44	$3,430,000	$77,955	$1,335	4.08%
40-60%	52	$7,070,000	$135,962	$3,295	3.43%
60-80%	99	$21,035,000	$212,475	$3,871	3.43%
80-100%	76	$15,640,000	$205,789	$5,101	3.60%
Over 100%	1	$285,000	$285,000	$10,757	5.50%
Under 20%	18	$730,000	$40,556	$542	3.97%