Verabank Mortgage Rates, Fees & Info

Henderson, TX

LEI: 54930087FQP1S845Z665

Tax ID: 75-0187835

5 stars - Updated: 7/7/25 - out of 5 stars, based on 26 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Verabank is a smaller bank specializing in Home Purchase loans. Verabank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Austin, Longview, Tyler, College Station, and Killeen among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Verabank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Verabank is typically a low 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 relatively high rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.15% 7/7/25
    30 Year Conventional Refi 6.94% 7/7/25
    30 Year Cash-out Refi 7.12% 7/7/25
    30 Year FHA Purchase 6.83% 7/7/25
    30 Year FHA Refi 6.72% 7/7/25
    30 Year VA Purchase 6.83% 7/7/25
    30 Year USDA Purchase 7.12% 7/7/25
    15 Year Conventional Purchase 6.48% 7/7/25
    15 Year Conventional Refi 8.51% 7/7/25
    15 Year Cash-out Refi 8.51% 7/7/25
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Verabank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Verabank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    689

    Origination Dollar Volume (All Markets)

    $205,505,000
    Show all (6) awards

    Relative Rate

    Verabank's average 30 year fixed mortgage rate was 7.4%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.85%.

    Relative Fees (Closing Costs)

    Verabank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,656.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    Top 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
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 156 $72,250,000 $463,141 $6,013 7.45%
    LONGVIEW, TX (FHA|USDA|VA) 137 $28,445,000 $207,628 $3,193 7.82%
    TYLER, TX (FHA|USDA|VA) 87 $24,345,000 $279,828 $4,236 7.90%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 65 $19,375,000 $298,077 $4,512 7.55%
    Outside of Metro Areas 65 $12,835,000 $197,462 $3,451 8.02%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 22 $10,430,000 $474,091 $4,900 7.80%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 15 $6,685,000 $445,667 $5,140 7.49%
    Athens, TX (FHA|USDA|VA) 24 $6,110,000 $254,583 $4,343 8.01%
    Corsicana, TX (FHA|USDA|VA) 26 $5,220,000 $200,769 $3,331 8.03%
    Palestine, TX (FHA|USDA|VA) 31 $5,155,000 $166,290 $3,326 7.81%
    Huntsville, TX (FHA|USDA|VA) 10 $4,860,000 $486,000 $3,397 7.77%
    Mount Pleasant, TX (FHA|USDA|VA) 22 $2,710,000 $123,182 $2,187 8.17%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,955,000 $1,955,000 $0 7.75%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 5 $1,735,000 $347,000 $6,934 7.70%
    Jacksonville, TX (FHA|USDA|VA) 6 $610,000 $101,667 $2,036 7.90%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $560,000 $280,000 $6,409 7.50%
    Lufkin, TX (FHA|USDA|VA) 5 $535,000 $107,000 $3,654 8.40%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $425,000 $425,000 $0 8.05%
    Rockport, TX (FHA|USDA|VA) 2 $370,000 $185,000 $5,707 6.88%
    HOT SPRINGS, AR (FHA|USDA|VA) 1 $325,000 $325,000 $3,065 6.49%
    TEXARKANA, TX-AR (FHA|USDA|VA) 3 $265,000 $88,333 $0 8.35%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $185,000 $185,000 $0 8.15%
    Sulphur Springs, TX (FHA|USDA|VA) 1 $75,000 $75,000 $3,110 6.25%
    Andrews, TX (FHA|USDA|VA) 1 $45,000 $45,000 $2,759 6.25%
    Verabank's top markets include Austin, Longview, Tyler, College Station, and Killeen among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against VeraBank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    EAST TEXAS PROFESSIONAL Credit Union
    Similarity Rank: 120
    GSB MORTGAGE, INC.
    Similarity Rank: 133
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 144
    FIRST CHOICE MH LLC
    Similarity Rank: 261
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 276
    SMART CHOICE MORTGAGE, A TEXAS LIMITED LIABILITY C
    Similarity Rank: 327
    GREATER TEXAS FEDERAL CREDIT UNION
    Similarity Rank: 460
    DATCU
    Similarity Rank: 468
    VELOCITY Credit Union
    Similarity Rank: 492
    FORT WORTH CITY CREDIT UNION
    Similarity Rank: 916

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 683 $203,385,000 $297,782 $4,389 7.76%
    VA 5 $1,955,000 $391,000 $10,005 6.78%
    USDA 1 $165,000 $165,000 $5,131 6.50%

    For 2024, Verabank's most frequently originated type of loan was Conventional, with 683 originations. Their 2nd most popular type was VA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 528 $171,880,000 $325,530 $4,881 7.64%
    Home Improvement 78 $10,380,000 $133,077 $2,457 8.27%
    Refi 61 $19,715,000 $323,197 $4,007 7.92%
    Other 18 $2,500,000 $138,889 $2,317 8.27%
    Cash Out Refi 4 $1,030,000 $257,500 $8,057 7.09%

    For 2024, Verabank's most frequently cited loan purpose was Home Purchase, with 528 originations. The 2nd most popular reason was Home Improvement, with 78 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 363 $119,755,000 $329,904 $4,656 7.40%
    15 Year 82 $9,290,000 $113,293 $2,306 8.19%
    20 Year 71 $17,565,000 $247,394 $2,627 7.95%
    Other 65 $16,645,000 $256,077 $2,840 8.21%
    30+ year 32 $20,140,000 $629,375 $8,476 7.86%
    10 Year 32 $11,350,000 $354,688 $1,801 7.79%
    5 Year 25 $6,575,000 $263,000 $0 8.68%
    1 Year 16 $3,390,000 $211,875 $3,614 8.89%
    3 Year 3 $795,000 $265,000 $0 8.48%

    For 2024, Verabank's most frequently cited loan duration was 30 Year, with 363 originations. The 2nd most popular length was 15 Year, with 82 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 264 $63,410,000 $240,189
    $1k-2k 185 $72,085,000 $389,649
    $5k+ 28 $14,580,000 $520,714
    $2k-3k 6 $1,970,000 $328,333
    $3k-4k 6 $2,020,000 $336,667
    $4k-5k 5 $2,665,000 $533,000

    Verabank's average total fees were $4,656, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 264 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 413 $129,415,000 $313,354
    Over 8% 168 $35,840,000 $213,333
    6-7% 95 $35,645,000 $375,211
    5-6% 13 $4,605,000 $354,231

    During 2024, Verabank's average interest rate for loans was 7.40%, while their most frequently originated rate bucket for loans was 7-8%, with 413 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 259 $72,405,000 $279,556 $4,097 7.63%
    $100k-200k 173 $25,555,000 $147,717 $2,965 7.89%
    $100,000 or less 127 $8,125,000 $63,976 $1,770 8.17%
    $400k-600k 68 $32,750,000 $481,618 $7,163 7.31%
    $600k-1MM 41 $29,775,000 $726,220 $10,345 7.40%
    $1MM+ 21 $36,895,000 $1,756,905 $10,961 7.75%

    2024 saw Verabank place emphasis on $200k-400k loans with 259 originations, totaling $72,405,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 114 $30,320,000 $265,965 $4,243 7.59%
    $75k-100k 111 $24,475,000 $220,495 $3,357 7.71%
    $150k-250k 106 $35,750,000 $337,264 $5,687 7.54%
    $50k-75k 104 $15,730,000 $151,250 $2,755 7.78%
    $250k+ 87 $57,995,000 $666,609 $7,852 7.46%
    $50k or less 42 $3,930,000 $93,571 $2,259 7.90%

    Verabank lent most frequently to those with incomes in the $100k-150k range, with 114 originations. The second most popular income band? $75k-100k, with 111 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 97 $26,375,000 $271,907 $4,169 7.51%
    20-30% 79 $27,405,000 $346,899 $5,108 7.45%
    44% 56 $14,360,000 $256,429 $3,247 7.76%
    43% 42 $12,890,000 $306,905 $3,871 7.57%
    42% 38 $11,300,000 $297,368 $5,182 7.62%
    50-60% 32 $11,850,000 $370,313 $4,272 7.74%
    40% 28 $6,430,000 $229,643 $3,291 7.65%
    <20% 20 $4,770,000 $238,500 $4,051 7.62%
    39% 20 $7,790,000 $389,500 $5,169 7.55%
    41% 19 $4,875,000 $256,579 $3,384 7.71%
    37% 17 $4,855,000 $285,588 $4,610 7.37%
    36% 14 $4,550,000 $325,000 $6,817 7.31%
    38% 12 $3,130,000 $260,833 $3,966 7.69%
    47% 10 $3,310,000 $331,000 $7,755 7.22%
    46% 8 $1,860,000 $232,500 $3,625 7.03%
    49% 8 $3,630,000 $453,750 $5,632 7.02%
    48% 7 $3,285,000 $469,286 $6,081 7.32%
    45% 4 $940,000 $235,000 $2,690 8.19%
    >60% 4 $6,020,000 $1,505,000 $11,375 7.44%

    Verabank lent most frequently to those with DTI ratios of 30-36%, with 97 originations. The next most common DTI ratio? 20-30%, with 79 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 436 $122,700,000 $281,422 $4,382 7.66%
    Not provided 105 $40,375,000 $384,524 $4,745 7.52%
    Not applicable 119 $36,515,000 $306,849 $0 8.27%
    Black 15 $3,225,000 $215,000 $3,711 8.20%
    Asian 7 $1,525,000 $217,857 $4,805 7.29%
    American Indian 6 $1,080,000 $180,000 $4,210 7.54%
    Other Asian 1 $85,000 $85,000 $0 8.75%

    Approval Rates

    Total approvals of all applications
    88.63%

    Verabank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.25%

    Verabank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    3795.01 1 $455,000 $455,000
    NA 688 $205,050,000 $298,038

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    689 $205,505,000 $298,266

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 67 $13,115,000 $195,746 $2,730 8.04%
    40-60% 77 $23,205,000 $301,364 $4,868 7.60%
    60-80% 182 $63,310,000 $347,857 $5,776 7.94%
    80-100% 316 $100,120,000 $316,835 $4,446 7.58%
    Over 100% 2 $1,030,000 $515,000 $18,618 6.50%
    Under 20% 45 $4,725,000 $105,000 $2,007 8.04%