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. Their top markets by origination volume include: Sacramento, Redding, Santa Rosa, San Francisco, and Chico among others. We have data for 12 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
53Origination Dollar Volume (All Markets)
$15,695,000Top 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) | 35 | $10,505,000 | $300,143 | $6,640 | 5.00% |
| REDDING, CA (FHA|USDA|VA) | 6 | $1,250,000 | $208,333 | $5,234 | 4.35% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $895,000 | $895,000 | $6,272 | 4.63% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $13,220 | 5.13% |
| Outside of Metro Areas | 2 | $380,000 | $190,000 | $4,923 | 5.06% |
| CHICO, CA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $4,706 | 5.31% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,733 | 5.13% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $10,524 | 4.75% |
| Fernley, NV (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $10,349 | 5.63% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,895 | 5.00% |
| Red Bluff, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,796 | 4.88% |
| MERCED, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,693 | 5.00% |
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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 40 | $11,440,000 | $286,000 | $5,262 | 4.91% |
| FHA | 12 | $3,880,000 | $323,333 | $10,534 | 5.08% |
| VA | 1 | $375,000 | $375,000 | $3,714 | 4.50% |
For 2019, Vitek Mortgage Group's most frequently originated type of loan was Conventional, with 40 originations. Their 2nd most popular type was FHA, with 12 originations.
Loan Reason
For 2019, Vitek Mortgage Group's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 52 | $15,540,000 | $298,846 | $6,501 | 4.94% |
| 15 Year | 1 | $155,000 | $155,000 | $3,786 | 4.88% |
For 2019, Vitek Mortgage Group's most frequently cited loan duration was 30 Year, with 52 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
Vitek Mortgage Group's average total fees were $6,501, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 33 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 32 | $9,920,000 | $310,000 |
| 5-6% | 20 | $5,770,000 | $288,500 |
| <2.5% | 1 | $5,000 | $5,000 |
During 2019, Vitek Mortgage Group's average interest rate for loans was 4.94%, while their most frequently originated rate bucket for loans was 4-5%, with 32 originations.
Loan Sizing
2019 saw Vitek Mortgage Group place emphasis on $200k-400k loans with 33 originations, totaling $10,035,000 in origination value.
Applicant Income
Vitek Mortgage Group lent most frequently to those with incomes in the $50k-75k range, with 18 originations. The second most popular income band? $100k-150k, with 12 originations.
Applicant Debt to Income Ratio
Vitek Mortgage Group lent most frequently to those with DTI ratios of 30-36%, with 10 originations. The next most common DTI ratio? 20-30%, with 7 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.28%
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 origination9.43%
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 | 53 | $15,695,000 | $296,132 |