Whitley Mortgage Associates Rates, Fees & Info

Monroe, NC

LEI: 549300DH4RY8ZKUJVU64

Tax ID: 56-1447645

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

    Whitley Mortgage Associates is a smaller mortgage company specializing in Home Purchase loans. Whitley Mortgage Associates has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Charlotte, Albemarle, Georgetown, Myrtle Beach, and Wilmington among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Whitley Mortgage Associates has an above average approval rate when compared to the average across all lenders. Whitley Mortgage Associates 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
    30 Year Conventional Purchase 6.27% 4/28/24
    30 Year Conventional Refi 6.27% 4/28/24
    30 Year Cash-out Refi 6.27% 4/28/24
    30 Year FHA Purchase 6.27% 4/28/24
    30 Year FHA Refi 6.27% 4/28/24
    30 Year USDA Purchase 6.27% 4/28/24
    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.

    Whitley Mortgage Associates Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Whitley Mortgage Associates. 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

    134

    Origination Dollar Volume (All Markets)

    $31,730,000

    Awards

    Whitley Mortgage Associates FHA Loans gold Whitley Mortgage Associates FHA Loans gold Whitley Mortgage Associates USDA Loans gold
    Show all (3) 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
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 122 $29,190,000 $239,262 $3,760 4.77%
    Albemarle, NC (FHA|USDA|VA) 4 $810,000 $202,500 $2,010 4.84%
    Georgetown, SC (FHA|USDA|VA) 2 $570,000 $285,000 $0 4.94%
    Outside of Metro Areas 3 $525,000 $175,000 $1,051 4.63%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $430,000 $215,000 $0 4.69%
    WILMINGTON, NC (FHA|USDA|VA) 1 $205,000 $205,000 $0 5.00%
    Whitley Mortgage Associates's top markets include Charlotte, Albemarle, Georgetown, Myrtle Beach, and Wilmington among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Whitley Mortgage Associates based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Whitley Mortgage Associates, Inc.
    Similarity Rank: 258
    Belmont Savings Bank, SSB
    Similarity Rank: 390
    NewDominion Bank
    Similarity Rank: 602
    FOUNDERS FEDERAL CREDIT UNION
    Similarity Rank: 1419
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1535
    Amerisouth Mortgage Company
    Similarity Rank: 1794
    CAROLINAS TELCO FEDERAL CREDIT UNION
    Similarity Rank: 1952
    Shea Mortgage Inc.
    Similarity Rank: 2016
    GMH Mortgage Services LLC
    Similarity Rank: 2628
    LOCAL GOVERNMENT FEDERAL CREDIT UNION
    Similarity Rank: 3717

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 96 $24,470,000 $254,896 $4,734 4.80%
    FHA 21 $3,555,000 $169,286 $3,006 4.79%
    USDA 11 $2,065,000 $187,727 $1,913 4.77%
    VA 6 $1,640,000 $273,333 $8,861 4.23%

    For 2018, Whitley Mortgage Associates's most frequently originated type of loan was Conventional, with 96 originations. Their 2nd most popular type was FHA, with 21 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 94 $21,460,000 $228,298 $3,467 4.79%
    Refi 22 $6,150,000 $279,545 $5,728 4.57%
    Cash Out Refi 18 $4,120,000 $228,889 $3,006 4.94%

    For 2018, Whitley Mortgage Associates's most frequently cited loan purpose was Home Purchase, with 94 originations. The 2nd most popular reason was Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 129 $30,395,000 $235,620 $3,495 4.78%
    15 Year 2 $620,000 $310,000 $7,182 4.31%
    20 Year 2 $530,000 $265,000 $0 4.94%
    Other 1 $185,000 $185,000 $0 4.75%

    For 2018, Whitley Mortgage Associates's most frequently cited loan duration was 30 Year, with 129 originations. The 2nd most popular length was 15 Year, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 46 $10,090,000 $219,348
    $<1k 28 $6,120,000 $218,571
    $1k-2k 24 $3,440,000 $143,333
    $3k-4k 23 $6,795,000 $295,435
    $4k-5k 10 $3,620,000 $362,000
    $5k+ 3 $1,665,000 $555,000

    Whitley Mortgage Associates's average total fees were $3,495, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 46 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 106 $26,710,000 $251,981
    5-6% 24 $4,070,000 $169,583
    3-4% 4 $950,000 $237,500

    During 2018, Whitley Mortgage Associates's average interest rate for loans was 4.78%, while their most frequently originated rate bucket for loans was 4-5%, with 106 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 60 $16,720,000 $278,667 $4,941 4.70%
    $100k-200k 55 $8,385,000 $152,455 $2,511 4.84%
    $400k-600k 12 $5,210,000 $434,167 $6,454 4.57%
    $100,000 or less 6 $500,000 $83,333 $1,231 5.23%
    $600k-1MM 1 $915,000 $915,000 $0 4.63%

    2018 saw Whitley Mortgage Associates place emphasis on $200k-400k loans with 60 originations, totaling $16,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 38 $7,770,000 $204,474 $2,986 4.87%
    $100k-150k 27 $7,765,000 $287,593 $5,172 4.73%
    $75k-100k 24 $5,780,000 $240,833 $3,964 4.78%
    $50k or less 23 $3,215,000 $139,783 $1,991 4.78%
    $150k-250k 16 $5,330,000 $333,125 $6,443 4.67%
    $250k+ 5 $1,765,000 $353,000 $5,066 4.68%

    Whitley Mortgage Associates lent most frequently to those with incomes in the $50k-75k range, with 38 originations. The second most popular income band? $100k-150k, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 26 $6,530,000 $251,154 $3,400 4.74%
    30-36% 25 $4,885,000 $195,400 $3,087 4.79%
    <20% 11 $2,035,000 $185,000 $1,876 4.89%
    39% 8 $1,970,000 $246,250 $2,672 4.89%
    36% 8 $2,020,000 $252,500 $5,249 4.70%
    38% 7 $1,695,000 $242,143 $1,646 4.89%
    43% 5 $1,235,000 $247,000 $1,794 4.70%
    37% 5 $1,165,000 $233,000 $2,280 4.65%
    41% 5 $1,465,000 $293,000 $7,182 4.85%
    45% 5 $1,045,000 $209,000 $2,153 4.95%
    50-60% 4 $1,070,000 $267,500 $5,642 5.03%
    40% 4 $1,010,000 $252,500 $5,769 4.53%
    42% 4 $810,000 $202,500 $3,648 4.91%
    44% 4 $1,390,000 $347,500 $4,886 4.40%
    46% 4 $1,140,000 $285,000 $4,568 4.78%
    48% 3 $1,035,000 $345,000 $0 4.41%
    47% 3 $655,000 $218,333 $2,520 4.83%
    49% 1 $325,000 $325,000 $0 4.75%

    Whitley Mortgage Associates lent most frequently to those with DTI ratios of 20-30%, with 26 originations. The next most common DTI ratio? 30-36%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 130 $31,020,000 $238,615 $3,695 4.76%
    Black 4 $710,000 $177,500 $1,141 5.16%

    Approval Rates

    Total approvals of all applications
    100.00%

    Whitley Mortgage Associates has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 134 $31,730,000 $236,791

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 134 $31,730,000 $236,791

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $200,000 $100,000 $0 5.13%
    40-60% 14 $3,330,000 $237,857 $7,182 4.55%
    60-80% 33 $8,265,000 $250,455 $4,348 4.75%
    80-100% 79 $18,525,000 $234,494 $2,975 4.82%
    Over 100% 6 $1,410,000 $235,000 $5,558 4.67%