Equity+ Mortgage

Invest in yourself, not an insurance company.

Get the most out of your home with Langley's Equity+ Mortgage. Enjoy the benefits of a fixed rate mortgage, low 5% down payment, and no private mortgage insurance (PMI). When you take a traditional mortgage with private mortgage insurance, a portion of every monthly payment passes directly to an insurer, rather than building the equity in your home.

Our Equity+ Mortgage program utilizes two separate loans to fund your home purchase. The first is a conventional 30-year fixed rate mortgage that covers 80% of the total loan amount. The other loan is a fixed rate home equity line of credit, which finances the other 15% of the loan amount. Together, they offer a smart alternative to a traditional 30-year mortgage loan.

How it Works

  • 5% Down Payment
  • 15% HELOC
  • 80% Mortgage

With only a 5% down payment, you can secure a mortgage that builds equity in your home as opposed to lining an insurance company's pockets. Reinvest your payments in your future with an Equity+ Mortgage today.

Equity+ Mortgage
Standard Mortgage
Low Down-Payment
Bonus Equity (1 Year)[3]
Bonus Equity (3 Years)
Bonus Equity (7 Years)

Already have a mortgage application in process?

Visit the Langley Mortgage Center where you can complete an unfinished application or see the status of your submitted application.

Frequently Asked Questions

How long does the mortgage process take?

It typically takes about 30 days for a purchase. 45-60 for a refinance. Exceptions can be made.

How does it include a HELOC?

The Equity+ Mortgage includes a home equity line of credit as 15% of the overall loan’s value, to a maximum of $60,000. The Equity+ Mortgage will require two separate loan payments to be made: one on a 30-Year Fixed Rate mortgage and one on a 20-Year Fixed Rate Home Equity Line of Credit.

Can I talk with someone at Langley before I apply for a mortgage?

Yes, we have loan officers available to help at any step of the mortgage process. Call 833-304-0471. We're open Mon-Friday 8:30 A.M. - 6:00 P.M.

What do I need to apply for a Equity+ Mortgage?
  1. W-2 forms for the last two years
  2. Current paystubs covering most recent 30 days
  3. For refinance, a copy of your homeowner's insurance policy.
  4. For refinance, a copy of your current mortgage statement(s).
  5. If self- employed or if you own rental property, the last two years' tax returns are required.
Do I need a realtor before I apply for a mortgage?

No, you can be preapproved before you start your new home search.

[1] APR=Annual Percentage Rate.

The Equity+ Mortgage consists of two separate loans with two separate payments, loan terms, and interest rates. A 30-Year Fixed Rate Mortgage with a 6.500% interest rate. (6.602% APR) - up to 80% LTV. The interest rate is current as of January 12, 2022. Offer applies to borrowers with a credit score of 740 or better depending on credit qualifications. The sample payment on a $200,000, 30-year Fixed-Rate Loan at 6.500% (6.602% APR) is $1904. Property insurance and, if applicable, flood insurance is required. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some restrictions may apply. This rate is applicable for owner-occupied purchase of a single family dwelling.

[2]The Annual Percentage Rates (APRs) are fixed rates with a LTV of 95%, and will not increase during the life of the loan. Rates and terms are subject to change without notice. Available to members with a credit score of 740 or better depending on credit qualifications. Credit is subject to approval. Some restrictions may apply. Property insurance, and if applicable, flood insurance is required. Possible tax advantages, consult your tax advisor. Federally insured by NCUA.

[3] Table and equity amount based on a loan amount of $285,000. $9,500 in equity is an estimate assuming the mortgage holder does not take out an advance on the HELOC during that 7 year period.