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. 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, Richmond, Washington, Kill Devil Hills, and Durham among others. We have data for 24 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% 4/19/24
    30 Year Conventional Purchase 6.35% 4/19/24
    30 Year Conventional Refi 6.22% 4/19/24
    30 Year Cash-out Refi 6.16% 4/19/24
    30 Year FHA Purchase 7.34% 4/19/24
    30 Year FHA Refi 6.27% 4/19/24
    30 Year VA Purchase 6.34% 4/19/24
    30 Year VA Refi 6.27% 4/19/24
    15 Year Conventional Purchase 6.08% 4/19/24
    15 Year Conventional Refi 5.83% 4/19/24
    15 Year Cash-out Refi 5.83% 4/19/24
    15 Year FHA Purchase 7.26% 4/19/24
    15 Year VA Purchase 5.84% 4/19/24
    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

    1,978

    Origination Dollar Volume (All Markets)

    $243,170,000
    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) 1,752 $210,720,000 $120,274 $2,530 4.76%
    RICHMOND, VA (FHA|USDA|VA) 91 $12,465,000 $136,978 $2,541 4.70%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 43 $8,555,000 $198,953 $2,681 4.75%
    Outside of Metro Areas 30 $3,250,000 $108,333 $2,375 4.94%
    Kill Devil Hills, NC (FHA|USDA|VA) 11 $1,425,000 $129,545 $2,750 4.90%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 6 $1,040,000 $173,333 $2,247 4.64%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 3 $865,000 $288,333 $1,406 3.49%
    LYNCHBURG, VA (FHA|USDA|VA) 4 $780,000 $195,000 $3,777 4.59%
    ASHEVILLE, NC (FHA|USDA|VA) 2 $720,000 $360,000 $4,305 3.87%
    Elizabeth City, NC (FHA|USDA|VA) 10 $680,000 $68,000 $1,788 5.02%
    ROANOKE, VA (FHA|USDA|VA) 3 $515,000 $171,667 $4,199 4.54%
    RALEIGH-CARY, NC (FHA|USDA|VA) 5 $295,000 $59,000 $2,386 4.59%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $240,000 $60,000 $0 4.74%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $240,000 $120,000 $0 5.99%
    Roanoke Rapids, NC (FHA|USDA|VA) 2 $240,000 $120,000 $500 3.49%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $235,000 $235,000 $2,946 3.88%
    HARRISONBURG, VA (FHA|USDA|VA) 2 $230,000 $115,000 $8,676 5.25%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $145,000 $145,000 $2,312 3.99%
    JACKSONVILLE, NC (FHA|USDA|VA) 1 $135,000 $135,000 $0 2.99%
    Cullowhee, NC (FHA|USDA|VA) 1 $125,000 $125,000 $2,558 3.88%
    GREENVILLE, NC (FHA|USDA|VA) 1 $95,000 $95,000 $0 2.99%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $65,000 $65,000 $2,302 3.75%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.99%
    Martinsville, VA (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.99%
    Langley's top markets include Virginia Beach, Richmond, Washington, Kill Devil Hills, and Durham 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: 75
    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 160
    DOMINION ENERGY CREDIT UNION
    Similarity Rank: 165
    Call Federal Credit Union
    Similarity Rank: 372
    CHARTWAY FEDERAL CREDIT UNION
    Similarity Rank: 517
    NEWPORT NEWS SHIPBUILDING EMPLOYEES
    Similarity Rank: 530
    UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION,INC.
    Similarity Rank: 636
    NYMEO FEDERAL CREDIT UNION
    Similarity Rank: 697
    Southern Bank and Trust Company
    Similarity Rank: 825
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 828

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,272 $76,400,000 $60,063 n/a 5.21%
    Conventional 694 $163,760,000 $235,965 $2,485 3.94%
    VA 11 $2,845,000 $258,636 $5,870 3.91%
    FHA 1 $165,000 $165,000 $5,610 3.50%

    For 2019, Langley's most frequently originated type of loan was HELOC, with 1,272 originations. Their 2nd most popular type was Conventional, with 694 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 578 $39,730,000 $68,737 $1,755 5.30%
    Home Improvement 576 $32,020,000 $55,590 $1,785 5.06%
    Home Purchase 346 $77,940,000 $225,260 $3,100 4.19%
    Refi 240 $39,570,000 $164,875 $2,443 4.38%
    Cash Out Refi 238 $53,910,000 $226,513 $2,017 3.90%

    For 2019, Langley's most frequently cited loan purpose was Other, with 578 originations. The 2nd most popular reason was Home Improvement, with 576 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 1,117 $60,915,000 $54,534 $0 5.42%
    30 Year 587 $141,995,000 $241,899 $2,499 4.00%
    30+ year 163 $19,555,000 $119,969 $5,482 3.70%
    20 Year 54 $11,670,000 $216,111 $2,612 3.69%
    15 Year 37 $6,135,000 $165,811 $2,501 3.70%
    10 Year 20 $2,900,000 $145,000 $2,508 3.42%

    For 2019, Langley's most frequently cited loan duration was Other, with 1,117 originations. The 2nd most popular length was 30 Year, with 587 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 539 $126,675,000 $235,019
    $1k-2k 120 $27,010,000 $225,083
    $2k-3k 26 $7,230,000 $278,077
    $3k-4k 12 $2,860,000 $238,333
    $5k+ 4 $1,600,000 $400,000
    $4k-5k 1 $205,000 $205,000

    Langley's average total fees were $2,499, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 539 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 808 $143,950,000 $178,156
    4-5% 537 $54,645,000 $101,760
    5-6% 279 $18,435,000 $66,075
    2.5-3% 126 $13,090,000 $103,889
    6-7% 112 $6,920,000 $61,786
    7-8% 60 $2,860,000 $47,667
    Over 8% 56 $3,270,000 $58,393

    During 2019, Langley's average interest rate for loans was 4.00%, while their most frequently originated rate bucket for loans was 3-4%, with 808 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,134 $50,080,000 $44,162 $2,163 5.21%
    $100k-200k 409 $59,505,000 $145,489 $2,355 4.36%
    $200k-400k 375 $103,705,000 $276,547 $2,598 3.96%
    $400k-600k 51 $23,735,000 $465,392 $3,167 3.86%
    $600k-1MM 9 $6,145,000 $682,778 $4,607 3.82%

    2019 saw Langley place emphasis on $100,000 or less loans with 1,134 originations, totaling $50,080,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 519 $68,345,000 $131,686 $2,657 4.70%
    $50k-75k 442 $48,140,000 $108,914 $2,455 4.77%
    $75k-100k 377 $44,275,000 $117,440 $2,588 4.87%
    $150k-250k 296 $43,420,000 $146,689 $2,708 4.69%
    $50k or less 271 $24,005,000 $88,579 $2,281 4.80%
    $250k+ 71 $14,525,000 $204,577 $3,412 4.62%

    Langley lent most frequently to those with incomes in the $100k-150k range, with 519 originations. The second most popular income band? $50k-75k, with 442 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 476 $60,860,000 $127,857 $2,544 4.60%
    30-36% 397 $50,185,000 $126,411 $2,530 4.73%
    <20% 160 $17,490,000 $109,313 $2,503 4.23%
    41% 113 $17,365,000 $153,673 $2,572 4.76%
    42% 110 $13,170,000 $119,727 $2,467 5.18%
    37% 91 $10,665,000 $117,198 $2,746 4.86%
    39% 89 $11,805,000 $132,640 $2,779 4.89%
    38% 83 $9,825,000 $118,373 $2,917 4.87%
    36% 79 $7,845,000 $99,304 $2,266 4.97%
    40% 74 $9,000,000 $121,622 $2,197 5.00%
    43% 74 $9,640,000 $130,270 $2,155 5.12%
    45% 43 $5,185,000 $120,581 $2,885 4.90%
    44% 36 $5,320,000 $147,778 $2,498 4.69%
    46% 34 $2,330,000 $68,529 $2,384 5.08%
    47% 32 $3,170,000 $99,063 $2,740 4.99%
    48% 26 $1,770,000 $68,077 $990 5.38%
    49% 23 $2,375,000 $103,261 $2,302 4.65%
    >60% 22 $2,890,000 $131,364 $1,966 4.50%
    50-60% 11 $1,735,000 $157,727 $3,382 4.07%

    Langley lent most frequently to those with DTI ratios of 20-30%, with 476 originations. The next most common DTI ratio? 30-36%, with 397 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,387 $171,985,000 $123,998 $2,548 4.69%
    Black 315 $29,135,000 $92,492 $2,281 5.19%
    Not provided 184 $28,380,000 $154,239 $2,919 4.58%
    Asian 67 $9,435,000 $140,821 $2,227 4.68%
    American Indian 8 $1,270,000 $158,750 $1,655 4.78%
    Filipino 3 $1,085,000 $361,667 $2,983 3.87%
    Native Hawaiian or Islander 6 $770,000 $128,333 $2,362 4.12%
    Asian Indian 2 $660,000 $330,000 $1,805 3.93%
    Not applicable 5 $415,000 $83,000 $0 5.64%
    Other Asian 1 $35,000 $35,000 $0 4.99%

    Approval Rates

    Total approvals of all applications
    77.47%

    Langley has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.79%

    Langley has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,978 $243,170,000 $122,937

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $470,000 $58,750
    Single Family (1-4 Units):Site-Built 1,970 $242,700,000 $123,198

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 353 $26,755,000 $75,793 $2,310 5.14%
    40-60% 149 $21,465,000 $144,060 $2,482 4.71%
    60-80% 244 $48,560,000 $199,016 $2,559 4.14%
    80-100% 465 $115,905,000 $249,258 $2,523 4.09%
    Over 100% 4 $1,020,000 $255,000 $8,573 3.65%
    Under 20% 760 $28,650,000 $37,697 $2,145 5.20%