Weokie Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 549300W8MJBUGW3ZLQ95
Tax ID: 73-0784198
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Weokie is a smaller mortgage company specializing in Refi and Home Purchase loans. Weokie has a high proportion of conventional loans. Their top markets include Oklahoma City, Tulsa, Mcalester, Weatherford, and Shawnee among others. Weokie has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Weokie is typically a low fee lendor.Originations
685Origination Dollar Volume (All Markets)
$139,985,000Awards
WEOKIE - 2021
WEOKIE is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Weokie's average 30 year fixed rate mortgage of loans were
3.04%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.11%.
Relative Fees
Weokie's average total fees for a 30 year fixed rate
mortgage are $3,256.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 667 | $136,835,000 | $205,150 | $2,854 | 3.20% |
| TULSA, OK (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $4,112 | 2.66% |
| McAlester, OK (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $3,771 | 2.50% |
| Outside of Metro Areas | 6 | $580,000 | $96,667 | $2,372 | 4.77% |
| Weatherford, OK (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $4,774 | 2.25% |
| Shawnee, OK (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $3,147 | 2.50% |
| Elk City, OK (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,267 | 2.50% |
| Ada, OK (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,768 | 3.13% |
| Duncan, OK (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,240 | 2.38% |
Weokie's top markets include Oklahoma City, Tulsa, Mcalester, Weatherford, and Shawnee among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 685 | $139,985,000 | $204,358 | $2,868 | 3.20% |
For the 2021 period, Weokie's most frequently originated loan type of loans were Conventional, with 685 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 242 | $62,950,000 | $260,124 | $2,992 | 2.83% |
| Home Purchase | 234 | $48,590,000 | $207,650 | $3,135 | 3.03% |
| Cash Out Refi | 159 | $25,755,000 | $161,981 | $2,942 | 3.49% |
| Home Improvement | 50 | $2,690,000 | $53,800 | $897 | 4.85% |
For the 2021, Weokie's most frequently cited loan purpose of loans were Refi, with 242 originations. The 2nd most popular reason of loans were Home Purchase, with 234 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 330 | $69,560,000 | $210,788 | $3,256 | 3.04% |
| 15 Year | 199 | $53,805,000 | $270,377 | $2,913 | 3.03% |
| 10 Year | 61 | $5,105,000 | $83,689 | $1,711 | 4.27% |
| 20 Year | 60 | $10,500,000 | $175,000 | $3,317 | 2.79% |
| 5 Year | 26 | $730,000 | $28,077 | $248 | 4.14% |
| Other | 9 | $285,000 | $31,667 | $111 | 5.55% |
For the 2021, Weokie's most frequently cited loan length of loans were 30 Year, with 330 originations. The 2nd most popular length of loans were 15 Year, with 199 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 523 | $94,325,000 | $180,354 |
| $<1k | 90 | $7,020,000 | $78,000 |
| $2k-3k | 21 | $4,205,000 | $200,238 |
| $3k-4k | 10 | $3,300,000 | $330,000 |
| $5k+ | 3 | $1,465,000 | $488,333 |
$3,256 of loans were Weokie's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 523 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 210 | $41,650,000 | $198,333 |
| <2.5% | 208 | $39,190,000 | $188,413 |
| 3-4% | 152 | $30,620,000 | $201,447 |
| 4-5% | 73 | $26,415,000 | $361,849 |
| 5-6% | 25 | $1,585,000 | $63,400 |
| 6-7% | 11 | $395,000 | $35,909 |
| 7-8% | 6 | $130,000 | $21,667 |
During 2021, Weokie's average interest rate of loans were 3.04%, while their most frequently originated rate bucket of loans were 2.5-3%, with 210 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 298 | $43,500,000 | $145,973 | $2,969 | 2.98% |
| $200k-400k | 177 | $48,585,000 | $274,492 | $3,485 | 2.83% |
| $100,000 or less | 172 | $10,280,000 | $59,767 | $1,846 | 3.91% |
| $400k-600k | 18 | $8,420,000 | $467,778 | $4,495 | 2.92% |
| $1MM+ | 12 | $23,500,000 | $1,958,333 | $5,130 | 4.02% |
| $600k-1MM | 8 | $5,700,000 | $712,500 | $5,258 | 3.66% |
2021 saw Weokie place emphasis on $100k-200k loans with 298 originations, totaling $43,500,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 157 | $22,725,000 | $144,745 | $2,762 | 3.07% |
| $100k-150k | 143 | $27,565,000 | $192,762 | $2,947 | 3.17% |
| $50k or less | 134 | $14,710,000 | $109,776 | $2,653 | 3.34% |
| $75k-100k | 128 | $20,500,000 | $160,156 | $2,865 | 3.04% |
| $150k-250k | 74 | $19,260,000 | $260,270 | $3,082 | 3.04% |
| $250k+ | 13 | $5,785,000 | $445,000 | $4,263 | 2.80% |
Weokie lent most frequently to those with incomes in the $50k-75k range, with 157 originations. The second most popular income band? $100k-150k, with 143 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 149 | $27,995,000 | $187,886 | $3,007 | 2.96% |
| <20% | 136 | $19,730,000 | $145,074 | $2,563 | 3.30% |
| 30-36% | 125 | $20,935,000 | $167,480 | $3,032 | 2.91% |
| 38% | 29 | $5,305,000 | $182,931 | $2,921 | 2.96% |
| 42% | 24 | $4,730,000 | $197,083 | $2,892 | 3.62% |
| 39% | 23 | $3,665,000 | $159,348 | $2,107 | 3.69% |
| 40% | 23 | $5,405,000 | $235,000 | $3,388 | 3.16% |
| 41% | 23 | $4,045,000 | $175,870 | $2,619 | 3.86% |
| 36% | 23 | $3,045,000 | $132,391 | $2,921 | 3.30% |
| 44% | 18 | $3,390,000 | $188,333 | $3,027 | 3.01% |
| 37% | 16 | $2,680,000 | $167,500 | $3,014 | 3.34% |
| 43% | 15 | $2,045,000 | $136,333 | $2,534 | 3.20% |
| 49% | 11 | $2,255,000 | $205,000 | $3,217 | 2.47% |
| 47% | 9 | $1,345,000 | $149,444 | $3,263 | 2.85% |
| 46% | 8 | $1,030,000 | $128,750 | $2,941 | 2.67% |
| 45% | 7 | $965,000 | $137,857 | $2,924 | 2.80% |
| 48% | 5 | $1,025,000 | $205,000 | $2,451 | 3.35% |
| 50-60% | 2 | $550,000 | $275,000 | $3,429 | 2.63% |
Weokie lent most frequently to those with DTI ratios of 20-30%, with 149 originations. The next most common DTI ratio? <20%, with 136 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 470 | $81,050,000 | $172,447 | $2,862 | 3.17% |
| Not applicable | 36 | $29,440,000 | $817,778 | $0 | 4.39% |
| Not provided | 62 | $11,000,000 | $177,419 | $2,943 | 3.10% |
| Asian | 55 | $9,525,000 | $173,182 | $2,966 | 2.65% |
| Black | 41 | $5,615,000 | $136,951 | $2,733 | 3.36% |
| American Indian | 7 | $1,025,000 | $146,429 | $2,052 | 3.07% |
| Other Asian | 3 | $715,000 | $238,333 | $3,428 | 3.08% |
| Chinese | 2 | $450,000 | $225,000 | $3,057 | 2.63% |
| Asian Indian | 4 | $450,000 | $112,500 | $2,574 | 3.12% |
| Vietnamese | 3 | $405,000 | $135,000 | $3,125 | 4.00% |
| Other Pacific Islander | 1 | $175,000 | $175,000 | $4,806 | 3.25% |
| Korean | 1 | $135,000 | $135,000 | $3,384 | 3.00% |
Approval Rates
Total approvals of all applications76.54%
Weokie has a below average approval rate.
Pick Rate
Approvals leading to origination65.53%
Weokie 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 | 685 | $139,985,000 | $204,358 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 685 | $139,985,000 | $204,358 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 37 | $2,845,000 | $76,892 | $2,032 | 3.76% |
| 40-60% | 98 | $14,620,000 | $149,184 | $2,997 | 2.76% |
| 60-80% | 278 | $64,140,000 | $230,719 | $3,226 | 3.00% |
| 80-100% | 214 | $53,540,000 | $250,187 | $3,168 | 3.08% |
| Over 100% | 4 | $2,420,000 | $605,000 | $0 | 4.25% |
| Under 20% | 52 | $2,030,000 | $39,038 | $273 | 5.11% |
