Angel Oak Home Loans Mortgage Rates, Fees & Info
ATLANTA, GALEI: 549300GDBIZCOI6TMO49
Tax ID: 27-3863726
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Mortgage Data
Review & Overview
Angel Oak Home Loans is a smaller mortgage company specializing in Home Purchase and Refi loans. Angel Oak Home Loans 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: Charlotte, Nashville, Hilton Head Island, Atlanta, and Atlantic City among others. We have data for 64 markets. (Some data included below & more in-depth data is available with an active subscription.)Angel Oak Home Loans 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. Angel Oak Home Loans is typically a high 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 relatively high 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 | 7.12% | 12/16/24 |
| 30 Year Conventional Refi | 7.40% | 12/16/24 |
| 30 Year Cash-out Refi | 6.27% | 12/16/24 |
| 30 Year FHA Purchase | 7.55% | 12/16/24 |
| 30 Year FHA Refi | 7.49% | 12/16/24 |
| 30 Year VA Purchase | 6.32% | 12/16/24 |
| 30 Year VA Refi | 6.13% | 12/16/24 |
| 30 Year USDA Purchase | 6.99% | 12/16/24 |
| 30 Year USDA Refi | 6.99% | 12/16/24 |
| 15 Year Conventional Purchase | 5.16% | 12/16/24 |
| 15 Year Conventional Refi | 6.27% | 12/16/24 |
| 15 Year Cash-out Refi | 6.27% | 12/16/24 |
| 15 Year FHA Purchase | 7.76% | 12/16/24 |
| 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. | ||
Angel Oak Home Loans Mortgage Calculator
Your Estimates
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This is not an official calculator from Angel Oak Home Loans. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
110Origination Dollar Volume (All Markets)
$50,120,000Relative Rate
Angel Oak Home Loans's average 30 year fixed mortgage rate was
8.11%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.63%.
Relative Fees (Closing Costs)
Angel Oak Home Loans's average total fees/closing costs for a 30 year fixed rate
mortgage were $9,794.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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) | 10 | $4,400,000 | $440,000 | $8,336 | 7.72% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 5 | $3,425,000 | $685,000 | $10,987 | 8.85% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 3 | $2,545,000 | $848,333 | $7,416 | 8.79% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $2,495,000 | $831,667 | $20,091 | 7.92% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $2,445,000 | $2,445,000 | $9,213 | 6.63% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $2,330,000 | $582,500 | $12,307 | 7.53% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $2,150,000 | $1,075,000 | $7,420 | 8.44% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $2,075,000 | $2,075,000 | $10,368 | 8.38% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 5 | $1,805,000 | $361,000 | $11,217 | 8.62% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $1,630,000 | $407,500 | $10,607 | 7.25% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 4 | $1,430,000 | $357,500 | $5,074 | 7.37% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $1,225,000 | $1,225,000 | $17,636 | 9.38% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $1,210,000 | $605,000 | $18,718 | 8.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 2 | $1,070,000 | $535,000 | $7,649 | 9.50% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $0 | 8.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $19,825 | 8.19% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $5,551 | 7.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $17,636 | 7.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $9,810 | 8.25% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 8.38% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $6,044 | 8.06% |
| Outside of Metro Areas | 2 | $770,000 | $385,000 | $11,655 | 8.56% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $9,049 | 7.75% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $0 | 6.13% |
| Brevard, NC (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $11,634 | 7.69% |
| VALDOSTA, GA (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $7,221 | 6.33% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $4,419 | 8.25% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $8,695 | 6.13% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $0 | 9.58% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $5,523 | 6.13% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $7,601 | 7.50% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 7.88% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,736 | 5.70% |
| ALBANY, GA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 8.63% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $11,857 | 7.88% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 9.88% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,123 | 6.62% |
| WACO, TX (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $5,432 | 7.13% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 7.50% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,609 | 7.25% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,561 | 7.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 8.38% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 9.25% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $8,991 | 10.50% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $13,701 | 9.88% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,618 | 7.88% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $8,794 | 7.00% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 8.88% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 8.69% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 9.50% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,880 | 9.38% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 9.44% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 7.88% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,940 | 9.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 7.88% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,331 | 9.88% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 8.88% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,499 | 6.88% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 7.00% |
| Somerset, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 8.63% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 8.38% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 10.75% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 7.63% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 7.25% |
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 107 | $49,095,000 | $458,832 | $9,681 | 8.12% |
| FHA | 2 | $810,000 | $405,000 | $13,234 | 7.19% |
| VA | 1 | $215,000 | $215,000 | $5,300 | 6.63% |
For 2023, Angel Oak Home Loans's most frequently originated type of loan was Conventional, with 107 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 68 | $32,910,000 | $483,971 | $10,065 | 8.21% |
| Refi | 42 | $17,210,000 | $409,762 | $9,228 | 7.90% |
For 2023, Angel Oak Home Loans's most frequently cited loan purpose was Home Purchase, with 68 originations. The 2nd most popular reason was Refi, with 42 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 109 | $49,615,000 | $455,183 | $9,794 | 8.11% |
| 15 Year | 1 | $505,000 | $505,000 | $5,074 | 5.88% |
For 2023, Angel Oak Home Loans's most frequently cited loan duration was 30 Year, with 109 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
Angel Oak Home Loans's average total fees were $9,794, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 39 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 50 | $22,870,000 | $457,400 |
| 7-8% | 41 | $18,995,000 | $463,293 |
| 6-7% | 15 | $7,145,000 | $476,333 |
| 5-6% | 4 | $1,110,000 | $277,500 |
During 2023, Angel Oak Home Loans's average interest rate for loans was 8.11%, while their most frequently originated rate bucket for loans was Over 8%, with 50 originations.
Loan Sizing
2023 saw Angel Oak Home Loans place emphasis on $200k-400k loans with 41 originations, totaling $11,805,000 in origination value.
Applicant Income
Angel Oak Home Loans lent most frequently to those with incomes in the $250k+ range, with 37 originations. The second most popular income band? $50k or less, with 27 originations.
Applicant Debt to Income Ratio
Angel Oak Home Loans lent most frequently to those with DTI ratios of 20-30%, with 18 originations. The next most common DTI ratio? <20%, with 12 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.56%
Angel Oak Home Loans has a below average approval rate.
Pick Rate
Approvals leading to origination-26.36%
Angel Oak Home Loans has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 110 | $50,120,000 | $455,636 |