OGI Mortgage Bankers Interest Rate and Cost Review

Is OGI Mortgage Bankers a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by OGI Mortgage Bankers with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratelower than average (-0.13%)
Loan Related Closing Costslower than average (-$857)
National Rate and Closing Cost Rating(4.5)

On average, OGI Mortgage Bankers’s interest rates were lower than those of other lenders (-0.13%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$857. Overall, combining interest rates and closing costs we estimate that OGI Mortgage Bankers tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.5 out of 5.0 stars.

OGI Mortgage Bankers’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track OGI Mortgage Bankers was most active in:

  1. Los Angeles, CA
  2. San Francisco, CA
  3. San Diego, CA
  4. San Jose, CA
  5. Sacramento, CA

You can click through to check out OGI Mortgage Bankers’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

OGI Mortgage Bankers’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, OGI Mortgage Bankers originated Conforming, FHA, Jumbo and VA mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

New Purchase MortgagesConformingFHAJumboVA
Interest Rate Difference-0.02%+0.02%+0.03%+0.01%
Loan Related Closing Cost Difference-$7+$633+$141+$46
Cost Adjusted Rate Difference-0.05%+0.04%+0.03%+0.01%
Star Rating(3.5)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference-0.18%-0.00%+0.01%+0.01%
Loan Related Closing Cost Difference-$1234-$14-$19-$497
Cost Adjusted Rate Difference-0.23%-0.01%+0.01%-0.01%
Star Rating(4.5)(3.5)(3.5)(3.5)

As a summary, OGI Mortgage Bankers is similar to other lenders for Conforming, FHA, Jumbo and VA purchase mortgages. For refinancing, OGI Mortgage Bankers is cheap for Conforming mortgage refinance. It is similar to other lenders for FHA, Jumbo and VA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about OGI Mortgage Bankers:

Registered name: Ony Glo, Inc
Registered city and state: SANTA ANA, CA, 92707
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for OGI Mortgage Bankers’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.