Whitley Mortgage Associates Rates, Fees & Info
Monroe, NCLEI: 549300DH4RY8ZKUJVU64
Tax ID: 56-1447645
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Mortgage Data
Review & Overview
Whitley Mortgage Associates is a smaller mortgage company specializing in Home Purchase and Refi loans. Whitley Mortgage Associates has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Charlotte, Albemarle, Hickory, Shelby, and Greenville among others. We have data for 7 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. They have a below average pick rate when compared to similar 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 11/21/24 |
| 30 Year Conventional Refi | 6.27% | 11/21/24 |
| 30 Year Cash-out Refi | 6.27% | 11/21/24 |
| 30 Year FHA Purchase | 6.27% | 11/21/24 |
| 30 Year FHA Refi | 6.27% | 11/21/24 |
| 30 Year USDA Purchase | 6.27% | 11/21/24 |
| 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. | ||
Whitley Mortgage Associates Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
179Origination Dollar Volume (All Markets)
$45,095,000Awards
Whitley Mortgage Associates - 2019
Whitley Mortgage Associates is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 161 | $41,335,000 | $256,739 | $4,238 | 4.19% |
| Albemarle, NC (FHA|USDA|VA) | 9 | $2,005,000 | $222,778 | $3,037 | 4.01% |
| Outside of Metro Areas | 5 | $815,000 | $163,000 | $3,034 | 4.50% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 3.75% |
| Shelby, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 3.88% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,580 | 4.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,676 | 4.38% |
Their top states include:
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.
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Product Mix
For 2019, Whitley Mortgage Associates's most frequently originated type of loan was Conventional, with 134 originations. Their 2nd most popular type was FHA, with 27 originations.
Loan Reason
For 2019, Whitley Mortgage Associates's most frequently cited loan purpose was Home Purchase, with 110 originations. The 2nd most popular reason was Refi, with 42 originations.
Loan Duration/Length
For 2019, Whitley Mortgage Associates's most frequently cited loan duration was 30 Year, with 163 originations. The 2nd most popular length was 15 Year, with 11 originations.
Origination Fees/Closing Costs
Whitley Mortgage Associates's average total fees were $4,004, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 7 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 85 | $23,535,000 | $276,882 |
| 4-5% | 81 | $18,955,000 | $234,012 |
| 5-6% | 10 | $1,710,000 | $171,000 |
| 2.5-3% | 2 | $500,000 | $250,000 |
| 7-8% | 1 | $395,000 | $395,000 |
During 2019, Whitley Mortgage Associates's average interest rate for loans was 4.24%, while their most frequently originated rate bucket for loans was 3-4%, with 85 originations.
Loan Sizing
2019 saw Whitley Mortgage Associates place emphasis on $200k-400k loans with 95 originations, totaling $26,225,000 in origination value.
Applicant Income
Whitley Mortgage Associates lent most frequently to those with incomes in the $50k-75k range, with 50 originations. The second most popular income band? $100k-150k, with 39 originations.
Applicant Debt to Income Ratio
Whitley Mortgage Associates lent most frequently to those with DTI ratios of 20-30%, with 49 originations. The next most common DTI ratio? 30-36%, with 30 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.34%
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 origination84.92%
Whitley Mortgage Associates has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 179 | $45,095,000 | $251,927 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 179 | $45,095,000 | $251,927 |