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 an average 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.
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Originations
110Origination Dollar Volume (All Markets)
$50,120,000Top 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 |