Weokie Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 549300W8MJBUGW3ZLQ95

Tax ID: 73-0784198

5 stars - Updated: 2/26/24 - out of 5 stars, based on 25 reviews

Latest/2022 | 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, Tulsa, Mcalester, Stillwater, and Shawnee 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 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 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 6.32% 2/26/24
30 Year Conventional Refi 6.30% 2/26/24
30 Year Cash-out Refi 6.69% 2/26/24
30 Year FHA Purchase 6.27% 2/26/24
15 Year Conventional Purchase 5.56% 2/26/24
15 Year Conventional Refi 5.23% 2/26/24
15 Year Cash-out Refi 5.23% 2/26/24
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

618

Origination Dollar Volume (All Markets)

$165,530,000

Awards

WEOKIE 30 Year Conventional Loans silver WEOKIE 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Weokie's average 30 year fixed mortgage rate was 3.94%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.82%.

Relative Fees (Closing Costs)

Weokie's average total fees/closing costs for a 30 year fixed rate mortgage were $3,540.

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 $4,750.

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) 595 $159,975,000 $268,866 $2,677 4.71%
Outside of Metro Areas 5 $1,365,000 $273,000 $3,280 3.73%
TULSA, OK (FHA|USDA|VA) 4 $930,000 $232,500 $3,312 3.37%
McAlester, OK (FHA|USDA|VA) 2 $850,000 $425,000 $4,507 4.75%
Stillwater, OK (FHA|USDA|VA) 3 $795,000 $265,000 $3,420 2.79%
Shawnee, OK (FHA|USDA|VA) 3 $515,000 $171,667 $3,776 4.00%
FORT SMITH, AR-OK (FHA|USDA|VA) 1 $345,000 $345,000 $3,470 1.99%
Weatherford, OK (FHA|USDA|VA) 1 $315,000 $315,000 $4,142 3.00%
Ada, OK (FHA|USDA|VA) 1 $235,000 $235,000 $3,364 2.75%
LAWTON, OK (FHA|USDA|VA) 2 $160,000 $80,000 $2,862 5.00%
Guymon, OK (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.99%
Weokie's top markets include Oklahoma City, Tulsa, Mcalester, Stillwater, and Shawnee 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: 330
    TTCU Federal Credit Union
    Similarity Rank: 370
    American Bank of Oklahoma
    Similarity Rank: 374
    WEOKIE
    Similarity Rank: 528
    KS StateBank
    Similarity Rank: 600
    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 676
    OKLAHOMA'S
    Similarity Rank: 776
    CWM PARTNERS, L.P.
    Similarity Rank: 777

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 618 $165,530,000 $267,848 $2,705 4.67%

    For 2022, Weokie's most frequently originated type of loan was Conventional, with 618 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 295 $86,255,000 $292,390 $3,546 4.09%
    Refi 131 $61,135,000 $466,679 $3,019 4.73%
    Home Improvement 110 $4,980,000 $45,273 $300 6.36%
    Cash Out Refi 71 $12,805,000 $180,352 $3,031 4.17%
    Other 11 $355,000 $32,273 $0 5.63%

    For 2022, Weokie's most frequently cited loan purpose was Home Purchase, with 295 originations. The 2nd most popular reason was Refi, with 131 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 306 $77,120,000 $252,026 $3,540 3.94%
    15 Year 167 $77,855,000 $466,198 $2,856 4.96%
    10 Year 68 $3,600,000 $52,941 $465 6.90%
    20 Year 27 $4,935,000 $182,778 $3,191 4.02%
    5 Year 27 $975,000 $36,111 $300 5.05%
    Other 22 $890,000 $40,455 $118 6.05%
    1 Year 1 $155,000 $155,000 $0 4.75%

    For 2022, Weokie's most frequently cited loan duration was 30 Year, with 306 originations. The 2nd most popular length was 15 Year, with 167 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 370 $86,650,000 $234,189
    $<1k 114 $5,260,000 $46,140
    $2k-3k 2 $220,000 $110,000
    $5k+ 1 $405,000 $405,000

    Weokie's average total fees were $3,540, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 370 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 132 $36,700,000 $278,030
    3-4% 130 $31,540,000 $242,615
    4-5% 130 $53,330,000 $410,231
    2.5-3% 86 $24,610,000 $286,163
    6-7% 66 $7,680,000 $116,364
    <2.5% 32 $9,330,000 $291,563
    7-8% 30 $1,720,000 $57,333
    Over 8% 12 $620,000 $51,667

    During 2022, Weokie's average interest rate for loans was 3.94%, while their most frequently originated rate bucket for loans was 5-6%, with 132 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 188 $28,000,000 $148,936 $3,196 4.49%
    $200k-400k 179 $49,045,000 $273,994 $3,504 3.94%
    $100,000 or less 175 $8,675,000 $49,571 $1,038 5.88%
    $400k-600k 44 $20,810,000 $472,955 $4,520 3.74%
    $1MM+ 20 $50,980,000 $2,549,000 $4,530 4.94%
    $600k-1MM 12 $8,020,000 $668,333 $4,580 3.55%

    2022 saw Weokie place emphasis on $100k-200k loans with 188 originations, totaling $28,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 130 $28,830,000 $221,769 $2,603 4.41%
    $50k-75k 119 $16,365,000 $137,521 $2,569 4.88%
    $75k-100k 83 $14,105,000 $169,940 $2,719 4.64%
    $50k or less 71 $6,615,000 $93,169 $2,473 4.81%
    $150k-250k 66 $18,810,000 $285,000 $3,059 4.01%
    $250k+ 21 $8,665,000 $412,619 $3,860 3.61%

    Weokie lent most frequently to those with incomes in the $100k-150k range, with 130 originations. The second most popular income band? $50k-75k, with 119 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 111 $21,915,000 $197,432 $2,918 4.32%
    30-36% 109 $22,035,000 $202,156 $2,741 4.24%
    <20% 45 $7,615,000 $169,222 $3,008 4.05%
    36% 23 $5,335,000 $231,957 $2,919 3.94%
    42% 21 $3,835,000 $182,619 $2,383 5.01%
    40% 20 $3,790,000 $189,500 $2,589 4.61%
    41% 18 $2,750,000 $152,778 $2,162 5.31%
    39% 17 $3,335,000 $196,176 $2,376 4.72%
    37% 16 $2,670,000 $166,875 $2,247 4.77%
    44% 16 $2,510,000 $156,875 $3,227 4.89%
    47% 13 $2,395,000 $184,231 $2,975 5.05%
    43% 12 $2,590,000 $215,833 $2,533 5.29%
    38% 11 $1,625,000 $147,727 $2,234 4.52%
    45% 11 $1,965,000 $178,636 $2,422 5.62%
    48% 11 $2,155,000 $195,909 $2,424 5.07%
    49% 10 $2,080,000 $208,000 $2,970 4.36%
    46% 10 $2,180,000 $218,000 $2,394 5.26%
    >60% 6 $940,000 $156,667 $2,267 4.50%
    50-60% 6 $400,000 $66,667 $818 7.02%

    Weokie lent most frequently to those with DTI ratios of 20-30%, with 111 originations. The next most common DTI ratio? 30-36%, with 109 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 127 $72,125,000 $567,913 $0 5.17%
    White 359 $68,385,000 $190,487 $2,668 4.52%
    Asian 38 $9,010,000 $237,105 $3,285 4.18%
    Not provided 38 $6,610,000 $173,947 $2,840 4.68%
    Black 32 $4,760,000 $148,750 $2,417 5.30%
    American Indian 19 $3,345,000 $176,053 $2,524 4.24%
    Vietnamese 2 $670,000 $335,000 $3,010 3.50%
    Asian Indian 1 $445,000 $445,000 $4,187 3.00%
    Other Asian 2 $180,000 $90,000 $1,400 5.25%

    Approval Rates

    Total approvals of all applications
    87.31%

    Weokie has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.52%

    Weokie has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 618 $165,530,000 $267,848

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    618 $165,530,000 $267,848

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 52 $4,220,000 $81,154 $1,479 5.46%
    40-60% 56 $7,680,000 $137,143 $2,779 4.29%
    60-80% 213 $88,875,000 $417,254 $3,415 4.45%
    80-100% 208 $60,700,000 $291,827 $3,575 4.10%
    Under 20% 86 $2,960,000 $34,419 $251 6.33%