Is Angel Oak Home Loans a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Angel Oak Home Loans to those of other lenders for a comparable set of borrowers. Here is our review of Angel Oak Home Loans nationally:
| Review Item | Angel Oak Home Loans |
|---|---|
| Interest Rate | similar to other lenders (+0.08%) |
| Loan Related Closing Costs | similar to other lenders (+$128) |
| National Rate and Closing Cost Star Rating | (3) |
On average, Angel Oak Home Loans’s interest rates were similar to those of other lenders (+0.08%). Its loan related closing costs were also similar to those of other lenders, with a difference of +$128. Overall, combining interest rates and closing costs we estimate that Angel Oak Home Loans tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3 out of 5 stars.
We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Angel Oak Home Loans, check out its website at: https://angeloakhomeloans.com.
Angel Oak Home Loans’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Angel Oak Home Loans was most active in:
Angel Oak Home Loans’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Angel Oak Home Loans originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.
| New Purchase Mortgages | Conforming | FHA | Jumbo | USDA | VA |
|---|---|---|---|---|---|
| Interest Rate Difference | +0.11% | +0.01% | +0.12% | -0.02% | +0.02% |
| Loan Related Closing Cost Difference | +$189 | +$133 | +$361 | +$6 | -$83 |
| Cost Adjusted Rate Difference | +0.13% | +0.02% | +0.13% | -0.02% | +0.02% |
| National Star Rating |
| Refinance Mortgages | Conforming | FHA | Jumbo | USDA | VA |
|---|---|---|---|---|---|
| Interest Rate Difference | +0.10% | +0.01% | +0.10% | +0.00% | -0.00% |
| Loan Related Closing Cost Difference | +$19 | -$6 | +$274 | -$3 | -$84 |
| Cost Adjusted Rate Difference | +0.10% | +0.01% | +0.10% | +0.00% | -0.01% |
| Average Star Rating |
As a summary, Angel Oak Home Loans is similar to other lenders for FHA, USDA and VA purchase mortgages. It is more expensive than other lenders for Conforming and Jumbo purchase mortgages. For refinancing, Angel Oak Home Loans is similar to other lenders for FHA, USDA and VA mortgage refinance. It is more expensive than other lenders for Conforming and Jumbo mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about Angel Oak Home Loans:
Registered city and state: ATLANTA, GA, 30328
Regulator: United States Department of Housing and Urban Development (HUD)
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Angel Oak Home Loans’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.