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 Refi, Cash Out Refi, and Home Purchase 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, Charlottesville, and Kill Devil Hills among others. We have data for 28 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 5.94% 4/14/24
    30 Year Conventional Purchase 6.35% 4/14/24
    30 Year Conventional Refi 6.22% 4/14/24
    30 Year Cash-out Refi 6.16% 4/14/24
    30 Year FHA Purchase 7.34% 4/14/24
    30 Year FHA Refi 6.27% 4/14/24
    30 Year VA Purchase 6.34% 4/14/24
    30 Year VA Refi 6.27% 4/14/24
    15 Year Conventional Purchase 6.08% 4/14/24
    15 Year Conventional Refi 5.83% 4/14/24
    15 Year Cash-out Refi 5.83% 4/14/24
    15 Year FHA Purchase 7.26% 4/14/24
    15 Year VA Purchase 5.84% 4/14/24
    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

    2,106

    Origination Dollar Volume (All Markets)

    $330,590,000
    Show all (6) 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) 1,849 $281,705,000 $152,355 $3,072 3.84%
    RICHMOND, VA (FHA|USDA|VA) 100 $17,390,000 $173,900 $3,510 3.53%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 54 $14,100,000 $261,111 $3,519 3.44%
    Outside of Metro Areas 33 $5,895,000 $178,636 $3,159 3.60%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 10 $2,260,000 $226,000 $3,705 3.25%
    Kill Devil Hills, NC (FHA|USDA|VA) 9 $1,665,000 $185,000 $4,273 3.21%
    RALEIGH-CARY, NC (FHA|USDA|VA) 7 $1,485,000 $212,143 $3,241 3.58%
    STAUNTON, VA (FHA|USDA|VA) 2 $880,000 $440,000 $3,048 2.75%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 6 $860,000 $143,333 $4,861 3.50%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $695,000 $231,667 $2,796 3.33%
    LYNCHBURG, VA (FHA|USDA|VA) 6 $530,000 $88,333 $2,583 4.08%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $510,000 $255,000 $0 5.62%
    Cullowhee, NC (FHA|USDA|VA) 1 $455,000 $455,000 $4,378 2.25%
    ASHEVILLE, NC (FHA|USDA|VA) 2 $450,000 $225,000 $0 3.12%
    Elizabeth City, NC (FHA|USDA|VA) 4 $280,000 $70,000 $1,954 3.40%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $275,000 $275,000 $4,414 3.50%
    ROANOKE, VA (FHA|USDA|VA) 1 $235,000 $235,000 $5,328 3.25%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $195,000 $65,000 $2,903 3.79%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.99%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $115,000 $115,000 $0 2.99%
    Roanoke Rapids, NC (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.99%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $85,000 $85,000 $0 2.99%
    FAYETTEVILLE, NC (FHA|USDA|VA) 3 $85,000 $28,333 $0 4.66%
    GOLDSBORO, NC (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.99%
    ROCKY MOUNT, NC (FHA|USDA|VA) 1 $65,000 $65,000 $2,798 3.00%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 2 $40,000 $20,000 $0 6.62%
    JACKSONVILLE, NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 2.99%
    COLUMBIA, SC (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.49%
    Langley's top markets include Virginia Beach, Richmond, Washington, Charlottesville, and Kill Devil Hills among others.

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

    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 90
    ABNB Federal Credit Union
    Similarity Rank: 496
    Poli Mortgage Group, Inc.
    Similarity Rank: 1100
    1ST ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 1155
    Beeline Loans, Inc.
    Similarity Rank: 1505
    C&F Select LLC
    Similarity Rank: 1570
    Kwik Mortgage Corporation
    Similarity Rank: 1602
    IDB Global Federal Credit Union
    Similarity Rank: 1782
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 1808
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2052

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,044 $70,130,000 $67,174 n/a 4.27%
    Conventional 981 $238,535,000 $243,155 $3,030 3.40%
    VA 68 $18,940,000 $278,529 $3,832 2.72%
    FHA 13 $2,985,000 $229,615 $6,769 2.94%

    For 2020, Langley's most frequently originated type of loan was HELOC, with 1,044 originations. Their 2nd most popular type was Conventional, with 981 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 552 $32,870,000 $59,547 $2,535 4.20%
    Refi 530 $108,410,000 $204,547 $2,823 3.15%
    Other 377 $27,855,000 $73,886 $2,499 4.38%
    Cash Out Refi 353 $86,435,000 $244,858 $3,135 3.08%
    Home Purchase 294 $75,020,000 $255,170 $3,715 4.39%

    For 2020, Langley's most frequently cited loan purpose was Home Improvement, with 552 originations. The 2nd most popular reason was Refi, with 530 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 930 $59,160,000 $63,613 $2,745 4.31%
    30 Year 679 $174,455,000 $256,929 $3,184 3.61%
    15 Year 179 $37,195,000 $207,793 $2,981 2.82%
    20 Year 136 $32,260,000 $237,206 $3,146 2.97%
    30+ year 120 $13,400,000 $111,667 $5,846 4.00%
    10 Year 61 $13,995,000 $229,426 $2,749 2.73%
    1 Year 1 $125,000 $125,000 $0 4.25%

    For 2020, Langley's most frequently cited loan duration was Other, with 930 originations. The 2nd most popular length was 30 Year, with 679 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 633 $150,205,000 $237,291
    $<1k 299 $73,045,000 $244,298
    $2k-3k 60 $14,460,000 $241,000
    $3k-4k 37 $9,515,000 $257,162
    $4k-5k 15 $3,865,000 $257,667
    $5k+ 10 $3,310,000 $331,000

    Langley's average total fees were $3,184, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 633 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 881 $147,045,000 $166,907
    2.5-3% 711 $128,075,000 $180,134
    4-5% 225 $20,125,000 $89,444
    <2.5% 117 $24,795,000 $211,923
    5-6% 94 $5,860,000 $62,340
    6-7% 33 $1,955,000 $59,242
    7-8% 33 $1,955,000 $59,242
    Over 8% 12 $780,000 $65,000

    During 2020, Langley's average interest rate for loans was 3.61%, while their most frequently originated rate bucket for loans was 3-4%, with 881 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 896 $41,170,000 $45,949 $2,338 4.24%
    $200k-400k 565 $155,415,000 $275,071 $3,285 3.69%
    $100k-200k 543 $79,605,000 $146,602 $2,781 3.34%
    $400k-600k 84 $39,000,000 $464,286 $4,069 3.16%
    $600k-1MM 15 $10,185,000 $679,000 $4,536 3.17%
    $1MM+ 3 $5,215,000 $1,738,333 $0 3.65%

    2020 saw Langley place emphasis on $100,000 or less loans with 896 originations, totaling $41,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 600 $98,540,000 $164,233 $3,296 3.63%
    $50k-75k 414 $53,640,000 $129,565 $2,922 3.69%
    $75k-100k 401 $60,745,000 $151,484 $3,094 4.41%
    $150k-250k 366 $68,960,000 $188,415 $3,489 3.63%
    $50k or less 246 $24,690,000 $100,366 $2,683 3.80%
    $250k+ 68 $17,090,000 $251,324 $3,859 3.50%

    Langley lent most frequently to those with incomes in the $100k-150k range, with 600 originations. The second most popular income band? $50k-75k, with 414 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 578 $92,250,000 $159,602 $3,143 3.55%
    30-36% 436 $68,530,000 $157,179 $3,270 3.66%
    <20% 226 $33,330,000 $147,478 $2,965 3.33%
    42% 94 $13,250,000 $140,957 $3,266 4.06%
    41% 87 $12,715,000 $146,149 $3,056 7.13%
    38% 84 $15,520,000 $184,762 $3,155 3.86%
    43% 76 $12,010,000 $158,026 $3,165 3.86%
    39% 70 $9,610,000 $137,286 $3,533 4.03%
    40% 69 $10,855,000 $157,319 $2,869 3.77%
    37% 65 $10,975,000 $168,846 $2,821 3.55%
    44% 62 $8,950,000 $144,355 $3,424 3.98%
    36% 52 $8,460,000 $162,692 $3,274 3.51%
    45% 38 $5,430,000 $142,895 $2,903 3.81%
    49% 35 $4,405,000 $125,857 $2,698 3.94%
    47% 35 $4,175,000 $119,286 $4,242 4.02%
    48% 29 $3,125,000 $107,759 $3,584 4.00%
    46% 29 $3,705,000 $127,759 $2,766 3.75%
    50-60% 15 $3,165,000 $211,000 $2,337 3.56%
    >60% 12 $2,710,000 $225,833 $2,522 3.85%

    Langley lent most frequently to those with DTI ratios of 20-30%, with 578 originations. The next most common DTI ratio? 30-36%, with 436 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,538 $238,250,000 $154,909 $3,147 3.85%
    Not provided 179 $39,375,000 $219,972 $3,154 3.11%
    Black 292 $33,150,000 $113,527 $3,078 4.08%
    Asian 70 $10,640,000 $152,000 $2,841 3.42%
    Not applicable 7 $5,855,000 $836,429 $0 4.11%
    American Indian 8 $1,190,000 $148,750 $2,348 4.60%
    Asian Indian 3 $975,000 $325,000 $2,950 3.58%
    Native Hawaiian or Islander 6 $640,000 $106,667 $3,087 4.12%
    Vietnamese 1 $275,000 $275,000 $2,887 2.88%
    Chinese 1 $185,000 $185,000 $2,408 3.13%
    Other Pacific Islander 1 $55,000 $55,000 $0 2.99%

    Approval Rates

    Total approvals of all applications
    79.70%

    Langley has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.20%

    Langley has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,106 $330,590,000 $156,975

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $5,215,000 $1,738,333
    Single Family (1-4 Units):Manufactured 6 $510,000 $85,000
    Single Family (1-4 Units):Site-Built 2,097 $324,865,000 $154,919

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 313 $28,965,000 $92,540 $2,402 4.10%
    40-60% 265 $47,235,000 $178,245 $2,902 3.38%
    60-80% 472 $108,960,000 $230,847 $3,160 3.24%
    80-100% 430 $118,890,000 $276,488 $3,243 3.91%
    Over 100% 5 $1,445,000 $289,000 $12,890 3.41%
    Under 20% 613 $23,295,000 $38,002 $2,631 4.22%