Mortgage Loans
This type of mortgage has an interest rate that remains the same for the entire loan term.
What is a fixed-rate mortgage?
This is the three-digit number that lenders use to assess your creditworthiness.
What is a credit score?
Max term Langley will finance an auto loan.
What is 84 months?
A type of loan that allows homeowners to borrow against their home.
What is home equity?
Promotion starting Feb 14th where our members will automatically get the lowest mortgage rate available between pre-approval and closing.
What is Best Rate Promise?
This type of government-backed loan is designed for military service members, veterans, and eligible spouses.
What is a VA loan?
Unlike secured loans, personal loans do not require this as a guarantee.
What is collateral?
This is the max loan-to-value (LTV) ratio Langley will finance for a vehicle.
What is 130 %, and subject to vehicle
Unlike a traditional mortgage loan, a HELOC operates more like this type of financial account.
What is revolving credit?
Our members can get a No Points, No closing cost offer by doing this.
What is refinancing and outbound calling to select home equity applicants? Our Mortgage Loan Officers are reaching out with this exclusive deal to help members access funds affordably while strengthening their relationship with us.
Borrowers who put down less than 20% on a conventional loan often need to pay this extra insurance.
What is private mortgage insurance (PMI)? Langley waves this for First time Home Buyers
A loan used to pay off other debts.
What is a debt consolidation ?
We offer these 4 things along with a vehicle purchase.
What is Warranty, Gap, Pay Protect, Insurance referral?
The two phases of a HELOC are the draw period and this phase.
What is the repayment period?
Current promotion that members who qualify will receive the best available rate and terms on our arm products.
What is No risk-based pricing?
The interest rate on an ARM is initially lower than a fixed-rate mortgage but can do this over time.
What is adjust or increase?
If you pay off a loan early, some lenders may charge this type of fee. Langley does not.
What is a prepayment penalty?
A vehicle status that Langley will not finance; this is found by using the car fax report.
What is branded title i.e. salvage, flood
The amount you can borrow with a HELOC is typically based on this ratio, which compares your loan balance to your home’s value.
What is loan-to-value (LTV) ratio?
Earn up to $15,000 towards your home purchase with what program?
What is HomeNow Grant?
ARMs are often labeled with two numbers, such as “5/1.” The numbers represent this.
What is the fixed-rate period in years and how often the rate adjusts after the fixed period?
An underwriter looks at these two main things to make a decision on a loan.
What is credit report and debit to income ratio?
The program targeting members whose score is under 640, used to assist members with making reliable vehicle choices.
What is Essential Rides Program?
Two types of HELOCs we offer.
What is a variable rate and fixed rate?
Vehicle Refinances come with what 3 benefits?
What is free GAP, no payments for 60 days, and great rates/terms?