Vitek Mortgage Group Rates, Fees & Info
RANCHO CORDOVA, CALEI: 5493002X3JFT5TQ6OK64
Tax ID: 68-0310106
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Mortgage Data
Review & Overview
Vitek Mortgage Group is a smaller mortgage company specializing in Home Purchase loans. Vitek Mortgage Group has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Sacramento, Redding, Vallejo, Red Bluff, and San Francisco among others. We have data for 37 markets. (Some data included below & more in-depth data is available with an active subscription.)Vitek Mortgage Group has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Vitek Mortgage Group 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 about average rates.
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Originations
1,346Origination Dollar Volume (All Markets)
$359,340,000Top 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 |
|---|---|---|---|---|---|
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 938 | $263,820,000 | $281,258 | $5,777 | 4.69% |
| REDDING, CA (FHA|USDA|VA) | 184 | $40,240,000 | $218,696 | $5,796 | 5.00% |
| VALLEJO, CA (FHA|USDA|VA) | 52 | $13,380,000 | $257,308 | $8,112 | 4.61% |
| Outside of Metro Areas | 30 | $6,070,000 | $202,333 | $5,147 | 4.95% |
| Red Bluff, CA (FHA|USDA|VA) | 25 | $5,685,000 | $227,400 | $5,269 | 4.94% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 18 | $4,760,000 | $264,444 | $6,593 | 4.50% |
| YUBA CITY, CA (FHA|USDA|VA) | 20 | $4,730,000 | $236,500 | $5,676 | 4.73% |
| RENO, NV (FHA|USDA|VA) | 7 | $2,835,000 | $405,000 | $9,931 | 4.91% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 9 | $2,315,000 | $257,222 | $4,655 | 4.81% |
| STOCKTON, CA (FHA|USDA|VA) | 8 | $2,090,000 | $261,250 | $6,175 | 5.03% |
| SALINAS, CA (FHA|USDA|VA) | 3 | $1,535,000 | $511,667 | $11,948 | 4.58% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 5 | $1,265,000 | $253,000 | $8,147 | 4.78% |
| Fernley, NV (FHA|USDA|VA) | 6 | $1,250,000 | $208,333 | $7,281 | 5.33% |
| Sonora, CA (FHA|USDA|VA) | 4 | $940,000 | $235,000 | $4,131 | 4.84% |
| FRESNO, CA (FHA|USDA|VA) | 5 | $745,000 | $149,000 | $4,584 | 4.56% |
| MODESTO, CA (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $3,854 | 5.00% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $6,352 | 5.00% |
| NAPA, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $3,381 | 5.38% |
| MEDFORD, OR (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $3,671 | 5.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $6,259 | 4.50% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 4 | $410,000 | $102,500 | $4,286 | 3.96% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,482 | 4.88% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 4 | $400,000 | $100,000 | $7,843 | 4.21% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,419 | 4.63% |
| CARSON CITY, NV (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,772 | 5.38% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,694 | 4.75% |
| CHICO, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,832 | 4.88% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,895 | 5.13% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 5.25% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,131 | 4.88% |
| Fallon, NV (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,954 | 5.00% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,393 | 5.50% |
| MERCED, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,497 | 4.88% |
| Brookings, OR (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,104 | 5.25% |
| Elko, NV (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,423 | 4.50% |
| Susanville, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 5.25% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,069 | 4.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against Vitek Mortgage Group based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2018, Vitek Mortgage Group's most frequently originated type of loan was Conventional, with 1,107 originations. Their 2nd most popular type was FHA, with 153 originations.
Loan Reason
For 2018, Vitek Mortgage Group's most frequently cited loan purpose was Home Purchase, with 1,056 originations. The 2nd most popular reason was Cash Out Refi, with 215 originations.
Loan Duration/Length
For 2018, Vitek Mortgage Group's most frequently cited loan duration was 30 Year, with 1,306 originations. The 2nd most popular length was 15 Year, with 28 originations.
Origination Fees/Closing Costs
Vitek Mortgage Group's average total fees were $5,909, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 547 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 813 | $250,985,000 | $308,715 |
| 5-6% | 350 | $99,350,000 | $283,857 |
| <2.5% | 74 | $750,000 | $10,135 |
| 3-4% | 20 | $6,130,000 | $306,500 |
| 6-7% | 5 | $1,325,000 | $265,000 |
During 2018, Vitek Mortgage Group's average interest rate for loans was 4.76%, while their most frequently originated rate bucket for loans was 4-5%, with 813 originations.
Loan Sizing
2018 saw Vitek Mortgage Group place emphasis on $200k-400k loans with 732 originations, totaling $214,710,000 in origination value.
Applicant Income
Vitek Mortgage Group lent most frequently to those with incomes in the $50k-75k range, with 363 originations. The second most popular income band? $75k-100k, with 322 originations.
Applicant Debt to Income Ratio
Vitek Mortgage Group lent most frequently to those with DTI ratios of 30-36%, with 209 originations. The next most common DTI ratio? 20-30%, with 157 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.24%
Vitek Mortgage Group has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination65.01%
Vitek Mortgage Group 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 | 1,346 | $359,340,000 | $266,969 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 15 | $2,645,000 | $176,333 |
| Single Family (1-4 Units):Site-Built | 1,331 | $356,695,000 | $267,990 |