Langley Mortgage Rates, Fees & Info

Newport News, VA

LEI: 549300CHR7TPQ6LLXG47

Tax ID: 54-0451953

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Langley is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Langley has a high proportion of conventional loans. Their top markets by origination volume include: Virginia Beach, Richmond, Washington, Charlotte, and Staunton among others. We have data for 25 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.

    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
    Home Equity Line of Credit (HELOC) 5.94% 4/21/24
    30 Year Conventional Purchase 6.35% 4/21/24
    30 Year Conventional Refi 6.22% 4/21/24
    30 Year Cash-out Refi 6.16% 4/21/24
    30 Year FHA Purchase 7.34% 4/21/24
    30 Year FHA Refi 6.27% 4/21/24
    30 Year VA Purchase 6.34% 4/21/24
    30 Year VA Refi 6.27% 4/21/24
    15 Year Conventional Purchase 6.08% 4/21/24
    15 Year Conventional Refi 5.83% 4/21/24
    15 Year Cash-out Refi 5.83% 4/21/24
    15 Year FHA Purchase 7.26% 4/21/24
    15 Year VA Purchase 5.84% 4/21/24
    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.

    Langley Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Langley. 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

    1,448

    Origination Dollar Volume (All Markets)

    $175,190,000
    Show all (8) awards

    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
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1,286 $151,080,000 $117,481 $2,498 4.57%
    RICHMOND, VA (FHA|USDA|VA) 65 $9,375,000 $144,231 $2,695 4.57%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 27 $5,435,000 $201,296 $3,214 4.36%
    Outside of Metro Areas 26 $2,680,000 $103,077 $3,466 4.81%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 5 $1,265,000 $253,000 $416 3.84%
    STAUNTON, VA (FHA|USDA|VA) 5 $1,025,000 $205,000 $2,099 4.62%
    Elizabeth City, NC (FHA|USDA|VA) 6 $560,000 $93,333 $3,286 5.44%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $510,000 $255,000 $2,680 3.81%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $450,000 $225,000 $2,885 4.18%
    Kill Devil Hills, NC (FHA|USDA|VA) 2 $440,000 $220,000 $2,698 3.81%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $285,000 $285,000 $0 4.25%
    FAYETTEVILLE, NC (FHA|USDA|VA) 3 $255,000 $85,000 $2,329 4.49%
    LYNCHBURG, VA (FHA|USDA|VA) 2 $250,000 $125,000 $2,521 3.87%
    WINSTON-SALEM, NC (FHA|USDA|VA) 2 $240,000 $120,000 $2,392 4.87%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $235,000 $235,000 $2,438 3.75%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $235,000 $78,333 $0 4.75%
    RALEIGH-CARY, NC (FHA|USDA|VA) 2 $210,000 $105,000 $2,093 4.00%
    WILMINGTON, NC (FHA|USDA|VA) 1 $175,000 $175,000 $2,382 3.25%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $145,000 $145,000 $3,595 4.63%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.50%
    JACKSONVILLE, NC (FHA|USDA|VA) 1 $95,000 $95,000 $0 2.49%
    GREENVILLE, NC (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.50%
    HARRISONBURG, VA (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.99%
    Danville, VA (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.74%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $15,000 $15,000 $0 5.00%
    Langley's top markets include Virginia Beach, Richmond, Washington, Charlotte, and Staunton among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)

    • Similar Lenders

    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.

    ABNB Federal Credit Union
    Similarity Rank: 40
    DOMINION ENERGY CREDIT UNION
    Similarity Rank: 108
    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 123
    NEWPORT NEWS SHIPBUILDING EMPLOYEES
    Similarity Rank: 147
    Bank of Clarke County
    Similarity Rank: 320
    LIBRARY OF CONGRESS
    Similarity Rank: 448
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 450
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 666
    EDUCATIONAL SYSTEMS
    Similarity Rank: 693
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1228

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,145 $146,945,000 $128,336 $2,360 4.90%
    HELOC 258 $18,390,000 $71,279 n/a 3.08%
    VA 45 $9,855,000 $219,000 $3,939 4.51%

    For 2018, Langley's most frequently originated type of loan was Conventional, with 1,145 originations. Their 2nd most popular type was HELOC, with 258 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 457 $25,985,000 $56,860 $1,513 4.70%
    Other 343 $21,695,000 $63,251 $1,824 4.98%
    Home Purchase 270 $63,770,000 $236,185 $3,065 4.26%
    Refi 203 $21,915,000 $107,956 $1,829 4.37%
    Cash Out Refi 174 $41,370,000 $237,759 $1,788 4.12%
    NA 1 $455,000 $455,000 $0 2.99%

    For 2018, Langley's most frequently cited loan purpose was Home Improvement, with 457 originations. The 2nd most popular reason was Other, with 343 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 712 $36,430,000 $51,166 $3,152 5.37%
    30 Year 445 $105,125,000 $236,236 $2,519 4.24%
    30+ year 217 $20,815,000 $95,922 $4,626 2.85%
    15 Year 60 $10,370,000 $172,833 $2,214 3.73%
    20 Year 9 $1,945,000 $216,111 $3,016 4.51%
    10 Year 5 $505,000 $101,000 $2,278 3.88%

    For 2018, Langley's most frequently cited loan duration was Other, with 712 originations. The 2nd most popular length was 30 Year, with 445 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 410 $92,770,000 $226,268
    $1k-2k 5 $905,000 $181,000
    $2k-3k 4 $760,000 $190,000
    $3k-4k 1 $305,000 $305,000
    $5k+ 1 $215,000 $215,000

    Langley's average total fees were $2,519, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 410 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 439 $52,985,000 $120,695
    3-4% 386 $77,830,000 $201,632
    5-6% 275 $19,115,000 $69,509
    <2.5% 167 $12,545,000 $75,120
    6-7% 77 $4,705,000 $61,104
    7-8% 58 $2,990,000 $51,552
    2.5-3% 35 $4,365,000 $124,714
    Over 8% 11 $655,000 $59,545

    During 2018, Langley's average interest rate for loans was 4.24%, while their most frequently originated rate bucket for loans was 4-5%, with 439 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 838 $36,570,000 $43,640 $1,876 4.83%
    $100k-200k 322 $46,540,000 $144,534 $2,147 4.31%
    $200k-400k 233 $63,645,000 $273,155 $2,909 4.11%
    $400k-600k 44 $20,640,000 $469,091 $3,132 3.98%
    $600k-1MM 11 $7,795,000 $708,636 $3,880 3.94%

    2018 saw Langley place emphasis on $100,000 or less loans with 838 originations, totaling $36,570,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 396 $52,640,000 $132,929 $3,138 4.48%
    $50k-75k 332 $34,050,000 $102,560 $2,155 4.66%
    $75k-100k 258 $31,690,000 $122,829 $2,537 4.58%
    $150k-250k 210 $30,160,000 $143,619 $2,858 4.51%
    $50k or less 198 $17,220,000 $86,970 $2,146 4.69%
    $250k+ 41 $7,805,000 $190,366 $3,008 4.23%

    Langley lent most frequently to those with incomes in the $100k-150k range, with 396 originations. The second most popular income band? $50k-75k, with 332 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 381 $43,935,000 $115,315 $2,617 4.48%
    30-36% 296 $36,810,000 $124,358 $2,588 4.61%
    <20% 210 $17,920,000 $85,333 $2,104 4.44%
    42% 65 $11,245,000 $173,000 $1,875 4.45%
    37% 59 $8,435,000 $142,966 $2,739 4.64%
    41% 56 $8,000,000 $142,857 $2,536 4.70%
    39% 54 $7,320,000 $135,556 $2,559 4.66%
    36% 52 $6,370,000 $122,500 $3,100 4.29%
    43% 51 $4,815,000 $94,412 $2,012 5.14%
    38% 43 $4,935,000 $114,767 $2,414 5.10%
    40% 42 $5,800,000 $138,095 $1,843 4.80%
    44% 31 $4,695,000 $151,452 $2,977 4.53%
    47% 24 $3,410,000 $142,083 $3,171 4.64%
    45% 19 $2,785,000 $146,579 $2,796 4.31%
    50-60% 16 $2,570,000 $160,625 $4,102 4.32%
    48% 14 $1,610,000 $115,000 $3,438 4.33%
    46% 14 $1,330,000 $95,000 $2,329 4.80%
    >60% 13 $1,455,000 $111,923 $1,312 4.99%
    49% 4 $770,000 $192,500 $2,337 4.69%

    Langley lent most frequently to those with DTI ratios of 20-30%, with 381 originations. The next most common DTI ratio? 30-36%, with 296 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 938 $114,550,000 $122,122 $2,515 4.51%
    Not provided 226 $29,850,000 $132,080 $2,653 4.35%
    Black 229 $22,025,000 $96,179 $2,485 5.10%
    Asian 38 $5,900,000 $155,263 $2,295 4.21%
    Not applicable 3 $645,000 $215,000 $0 2.82%
    Asian Indian 2 $570,000 $285,000 $2,746 3.62%
    Other Pacific Islander 1 $525,000 $525,000 $0 3.99%
    Native Hawaiian or Islander 4 $380,000 $95,000 $2,916 4.25%
    American Indian 5 $315,000 $63,000 $3,615 5.25%
    Filipino 1 $255,000 $255,000 $0 3.99%
    Japanese 1 $175,000 $175,000 $1,651 3.75%

    Approval Rates

    Total approvals of all applications
    71.00%

    Langley has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    88.26%

    Langley has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,448 $175,190,000 $120,988

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 4 $320,000 $80,000
    Single Family (1-4 Units):Site-Built 1,444 $174,870,000 $121,101

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 241 $17,845,000 $74,046 $2,067 4.61%
    40-60% 119 $15,295,000 $128,529 $1,843 4.40%
    60-80% 190 $36,690,000 $193,105 $2,229 4.35%
    80-100% 319 $82,375,000 $258,229 $2,678 4.18%
    Over 100% 7 $1,665,000 $237,857 $6,871 4.75%
    Under 20% 572 $21,320,000 $37,273 $1,980 4.87%