Weokie Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 549300W8MJBUGW3ZLQ95

Tax ID: 73-0784198

5 stars - Updated: 3/28/24 - out of 5 stars, based on 20 reviews

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

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Mortgage Data

Review & Overview

Weokie is a smaller mortgage company specializing in Home Purchase and Refi loans. Weokie has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Tahlequah, Tulsa, Shawnee, and Mcalester among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Weokie has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Weokie 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.

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 6.32% 3/28/24
30 Year Conventional Refi 6.30% 3/28/24
30 Year Cash-out Refi 6.69% 3/28/24
30 Year FHA Purchase 6.27% 3/28/24
15 Year Conventional Purchase 5.56% 3/28/24
15 Year Conventional Refi 5.23% 3/28/24
15 Year Cash-out Refi 5.23% 3/28/24
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.

Weokie Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Weokie. 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

393

Origination Dollar Volume (All Markets)

$70,025,000

Awards

WEOKIE 30 Year Conventional Loans silver WEOKIE 30 Year Conventional Loans gold WEOKIE 30 Year Conventional Loans silver
Show all (3) awards

Relative Rate

Weokie's average 30 year fixed mortgage rate was 6.19%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.29%.

Relative Fees (Closing Costs)

Weokie's average total fees/closing costs for a 30 year fixed rate mortgage were $4,040.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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) 371 $64,145,000 $172,898 $2,268 7.20%
Outside of Metro Areas 5 $1,455,000 $291,000 $4,428 6.30%
Tahlequah, OK (FHA|USDA|VA) 2 $1,400,000 $700,000 $5,409 5.69%
TULSA, OK (FHA|USDA|VA) 3 $765,000 $255,000 $3,456 6.79%
Shawnee, OK (FHA|USDA|VA) 5 $715,000 $143,000 $3,271 7.35%
McAlester, OK (FHA|USDA|VA) 1 $555,000 $555,000 $4,681 5.88%
Weatherford, OK (FHA|USDA|VA) 1 $405,000 $405,000 $4,937 5.13%
Bartlesville, OK (FHA|USDA|VA) 1 $225,000 $225,000 $4,472 5.00%
Stillwater, OK (FHA|USDA|VA) 2 $150,000 $75,000 $2,317 7.25%
Ada, OK (FHA|USDA|VA) 1 $125,000 $125,000 $3,702 6.75%
Duncan, OK (FHA|USDA|VA) 1 $85,000 $85,000 $4,751 6.63%
Weokie's top markets include Oklahoma City, Tahlequah, Tulsa, Shawnee, and Mcalester among others.

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

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

    TRUE SKY
    Similarity Rank: 144
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    Similarity Rank: 154
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    WEOKIE
    Similarity Rank: 220
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 393 $70,025,000 $178,181 $2,368 7.17%

    For 2023, Weokie's most frequently originated type of loan was Conventional, with 393 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 142 $43,690,000 $307,676 $3,916 6.33%
    Home Improvement 140 $6,440,000 $46,000 $648 8.31%
    Refi 82 $15,850,000 $193,293 $3,598 6.62%
    Cash Out Refi 21 $3,385,000 $161,190 $2,758 7.42%
    Other 8 $660,000 $82,500 $0 6.86%

    For 2023, Weokie's most frequently cited loan purpose was Home Purchase, with 142 originations. The 2nd most popular reason was Home Improvement, with 140 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 143 $39,435,000 $275,769 $4,040 6.19%
    10 Year 82 $4,530,000 $55,244 $711 8.87%
    15 Year 77 $12,785,000 $166,039 $3,816 6.66%
    5 Year 43 $1,505,000 $35,000 $617 7.22%
    Other 35 $2,985,000 $85,286 $582 8.25%
    20 Year 7 $795,000 $113,571 $3,525 7.38%
    1 Year 5 $1,965,000 $393,000 $0 6.83%
    3 Year 1 $6,025,000 $6,025,000 $0 6.00%

    For 2023, Weokie's most frequently cited loan duration was 30 Year, with 143 originations. The 2nd most popular length was 10 Year, with 82 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 158 $41,220,000 $260,886
    $<1k 151 $6,975,000 $46,192
    $3k-4k 2 $360,000 $180,000
    $5k+ 2 $660,000 $330,000
    $2k-3k 1 $85,000 $85,000
    $4k-5k 1 $185,000 $185,000

    Weokie's average total fees were $4,040, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 158 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 125 $23,105,000 $184,840
    Over 8% 108 $6,390,000 $59,167
    7-8% 80 $9,190,000 $114,875
    5-6% 50 $21,280,000 $425,600
    4-5% 26 $8,730,000 $335,769
    3-4% 2 $710,000 $355,000
    % 1 $105,000 $105,000
    2.5-3% 1 $515,000 $515,000

    During 2023, Weokie's average interest rate for loans was 6.19%, while their most frequently originated rate bucket for loans was 6-7%, with 125 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 180 $8,230,000 $45,722 $972 8.02%
    $100k-200k 97 $13,935,000 $143,660 $3,168 6.93%
    $200k-400k 75 $20,475,000 $273,000 $4,051 6.19%
    $400k-600k 32 $15,380,000 $480,625 $4,395 5.63%
    $600k-1MM 8 $5,980,000 $747,500 $5,127 6.19%
    $1MM+ 1 $6,025,000 $6,025,000 $0 6.00%

    2023 saw Weokie place emphasis on $100,000 or less loans with 180 originations, totaling $8,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 75 $11,745,000 $156,600 $2,295 7.28%
    $50k-75k 75 $6,835,000 $91,133 $2,039 7.60%
    $75k-100k 65 $7,645,000 $117,615 $2,315 7.19%
    $150k-250k 50 $16,420,000 $328,400 $3,423 6.50%
    $50k or less 38 $2,330,000 $61,316 $1,560 7.87%
    $250k+ 12 $4,510,000 $375,833 $3,345 6.68%

    Weokie lent most frequently to those with incomes in the $100k-150k range, with 75 originations. The second most popular income band? $50k-75k, with 75 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 71 $9,975,000 $140,493 $2,425 7.11%
    30-36% 65 $11,815,000 $181,769 $2,433 7.06%
    42% 17 $1,915,000 $112,647 $1,692 8.13%
    <20% 16 $1,910,000 $119,375 $2,591 7.10%
    45% 15 $2,175,000 $145,000 $2,408 7.19%
    46% 13 $3,355,000 $258,077 $3,099 6.36%
    49% 13 $2,955,000 $227,308 $2,797 6.99%
    41% 12 $1,290,000 $107,500 $1,489 7.63%
    40% 11 $1,325,000 $120,455 $2,000 8.02%
    36% 11 $1,675,000 $152,273 $2,012 7.45%
    47% 11 $2,165,000 $196,818 $2,833 7.16%
    37% 10 $1,110,000 $111,000 $2,039 7.74%
    39% 10 $1,670,000 $167,000 $2,685 7.39%
    44% 10 $1,550,000 $155,000 $2,535 7.58%
    50-60% 10 $1,780,000 $178,000 $2,326 7.05%
    38% 8 $1,750,000 $218,750 $3,496 7.58%
    43% 6 $360,000 $60,000 $948 7.63%
    48% 4 $650,000 $162,500 $2,230 7.38%
    >60% 2 $60,000 $30,000 $582 7.75%

    Weokie lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? 30-36%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 231 $35,115,000 $152,013 $2,326 7.24%
    Not applicable 74 $19,940,000 $269,459 $0 6.79%
    Asian 19 $5,025,000 $264,474 $3,278 6.52%
    Not provided 37 $4,955,000 $133,919 $2,083 7.43%
    American Indian 9 $1,765,000 $196,111 $3,010 7.53%
    Black 19 $1,555,000 $81,842 $1,848 7.89%
    Vietnamese 2 $780,000 $390,000 $4,436 7.00%
    Other Pacific Islander 1 $675,000 $675,000 $4,656 4.63%
    Asian Indian 1 $215,000 $215,000 $0 6.25%

    Approval Rates

    Total approvals of all applications
    91.07%

    Weokie has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.01%

    Weokie has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 393 $70,025,000 $178,181

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    393 $70,025,000 $178,181

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 63 $3,965,000 $62,937 $1,106 8.07%
    40-60% 32 $4,780,000 $149,375 $3,234 6.77%
    60-80% 125 $36,545,000 $292,360 $3,950 6.51%
    80-100% 69 $19,405,000 $281,232 $3,996 6.21%
    Under 20% 98 $3,630,000 $37,041 $629 8.18%