Langley Mortgage Rates, Fees & InfoNewport News, VA
Tax ID: 54-0451953
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewLangley is a smaller mortgage company specializing in Home Improvement, Home Purchase, and Cash Out Refi loans. Langley has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Virginia Beach, Washington, Richmond, Raleigh, and Kill Devil Hills among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)
Langley 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. Langley 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.
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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||5.94%||11/30/23|
|30 Year Conventional Purchase||6.35%||11/30/23|
|30 Year Conventional Refi||6.22%||11/30/23|
|30 Year Cash-out Refi||6.16%||11/30/23|
|30 Year FHA Purchase||7.34%||11/30/23|
|30 Year FHA Refi||6.27%||11/30/23|
|30 Year VA Purchase||6.34%||11/30/23|
|30 Year VA Refi||6.27%||11/30/23|
|15 Year Conventional Purchase||6.08%||11/30/23|
|15 Year Conventional Refi||5.83%||11/30/23|
|15 Year Cash-out Refi||5.83%||11/30/23|
|15 Year FHA Purchase||7.26%||11/30/23|
|15 Year VA Purchase||5.84%||11/30/23|
|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.|
Langley Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$295,570,000
LANGLEY - 2022
LANGLEY is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Langley's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.58%.
Relative Fees (Closing Costs)
Langley's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,260.
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.
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|
|VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA)||2,049||$240,185,000||$117,221||$2,976||4.67%|
|Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA)||117||$22,265,000||$190,299||$4,976||4.30%|
|RICHMOND, VA (FHA|USDA|VA)||128||$15,490,000||$121,016||$3,331||4.71%|
|Outside of Metro Areas||38||$4,540,000||$119,474||$3,200||5.21%|
|RALEIGH-CARY, NC (FHA|USDA|VA)||16||$2,430,000||$151,875||$3,713||4.77%|
|Kill Devil Hills, NC (FHA|USDA|VA)||13||$2,005,000||$154,231||$3,700||4.19%|
|CHARLOTTESVILLE, VA (FHA|USDA|VA)||8||$1,660,000||$207,500||$3,380||3.82%|
|CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA)||7||$1,555,000||$222,143||$4,028||3.80%|
|BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA)||9||$1,325,000||$147,222||$4,743||5.40%|
|LYNCHBURG, VA (FHA|USDA|VA)||2||$510,000||$255,000||$2,910||4.00%|
|WINSTON-SALEM, NC (FHA|USDA|VA)||3||$425,000||$141,667||$3,711||5.79%|
|STAUNTON, VA (FHA|USDA|VA)||3||$385,000||$128,333||$2,916||4.24%|
|HARRISONBURG, VA (FHA|USDA|VA)||1||$385,000||$385,000||$3,892||4.25%|
|BURLINGTON, NC (FHA|USDA|VA)||1||$375,000||$375,000||$1,421||3.75%|
|Elizabeth City, NC (FHA|USDA|VA)||6||$320,000||$53,333||$2,514||5.80%|
|Martinsville, VA (FHA|USDA|VA)||1||$245,000||$245,000||$0||6.63%|
|GREENSBORO-HIGH POINT, NC (FHA|USDA|VA)||2||$190,000||$95,000||$0||4.99%|
|ROANOKE, VA (FHA|USDA|VA)||2||$170,000||$85,000||$0||3.24%|
|DURHAM-CHAPEL HILL, NC (FHA|USDA|VA)||2||$150,000||$75,000||$0||4.74%|
|HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA)||2||$120,000||$60,000||$0||3.74%|
|SALISBURY, MD-DE (FHA|USDA|VA)||2||$110,000||$55,000||$0||6.37%|
|HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA)||1||$105,000||$105,000||$1,962||4.25%|
|Roanoke Rapids, NC (FHA|USDA|VA)||2||$90,000||$45,000||$0||6.62%|
|GREENVILLE, NC (FHA|USDA|VA)||2||$90,000||$45,000||$0||3.74%|
|WILMINGTON, NC (FHA|USDA|VA)||3||$85,000||$28,333||$0||4.99%|
|ASHEVILLE, NC (FHA|USDA|VA)||1||$85,000||$85,000||$0||4.49%|
|FAYETTEVILLE, NC (FHA|USDA|VA)||1||$55,000||$55,000||$0||5.49%|
|Morehead City, NC (FHA|USDA|VA)||1||$45,000||$45,000||$0||5.49%|
|Henderson, NC (FHA|USDA|VA)||1||$45,000||$45,000||$0||8.50%|
|Boone, NC (FHA|USDA|VA)||1||$35,000||$35,000||$0||6.99%|
|MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA)||1||$35,000||$35,000||$0||4.49%|
|AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA)||1||$35,000||$35,000||$0||5.99%|
|NEW BERN, NC (FHA|USDA|VA)||1||$25,000||$25,000||$0||7.49%|
We use machine learning to identify the top lenders compared against LANGLEY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Langley's most frequently originated type of loan was HELOC, with 1,862 originations. Their 2nd most popular type was Conventional, with 553 originations.
For 2022, Langley's most frequently cited loan purpose was Home Improvement, with 1,013 originations. The 2nd most popular reason was Other, with 623 originations.
For 2022, Langley's most frequently cited loan duration was Other, with 1,733 originations. The 2nd most popular length was 30 Year, with 443 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Langley's average total fees were $3,260, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 287 originations.
During 2022, Langley's average interest rate for loans was 4.18%, while their most frequently originated rate bucket for loans was 3-4%, with 638 originations.
2022 saw Langley place emphasis on $100,000 or less loans with 1,437 originations, totaling $71,445,000 in origination value.
Langley lent most frequently to those with incomes in the $100k-150k range, with 633 originations. The second most popular income band? $75k-100k, with 484 originations.
Applicant Debt to Income Ratio
Langley lent most frequently to those with DTI ratios of 20-30%, with 511 originations. The next most common DTI ratio? 30-36%, with 465 originations.
Approval RatesTotal approvals of all applications
Langley has an average approval rate.
Pick RateApprovals leading to origination
Langley has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|