Vellum Mortgage Rates, Fees & Info

Fairfax, VA

LEI: 549300IPUHFA5O769M51

Tax ID: 81-5318646

3.6 stars - Updated: 6/9/24 - out of 5 stars, based on 35 reviews

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

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Mortgage Data

Review & Overview

Vellum Mortgage is a smaller mortgage company specializing in Home Purchase loans. Vellum Mortgage 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: Washington, San Francisco, Baltimore, Dallas, and Sacramento among others. We have data for 67 markets. (Some data included below & more in-depth data is available with an active subscription.)

Vellum Mortgage 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. Vellum Mortgage is typically a high 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 6.56% 6/9/24
30 Year Conventional Refi 6.52% 6/9/24
30 Year Cash-out Refi 6.65% 6/9/24
30 Year FHA Purchase 7.54% 6/9/24
30 Year FHA Refi 7.30% 6/9/24
30 Year VA Purchase 6.29% 6/9/24
30 Year VA Refi 5.59% 6/9/24
30 Year USDA Purchase 7.00% 6/9/24
15 Year Conventional Purchase 5.92% 6/9/24
15 Year Conventional Refi 5.83% 6/9/24
15 Year Cash-out Refi 5.83% 6/9/24
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.

Vellum Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from Vellum Mortgage. 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

1,235

Origination Dollar Volume (All Markets)

$585,995,000
Show all (5) awards

Relative Rate

Vellum Mortgage's average 30 year fixed mortgage rate was 6.66%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.18%.

Relative Fees (Closing Costs)

Vellum Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $9,912.

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 $9,089.

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
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 723 $351,385,000 $486,010 $10,811 6.67%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 161 $100,925,000 $626,863 $7,218 6.59%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 102 $40,590,000 $397,941 $10,589 6.67%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 31 $11,155,000 $359,839 $6,849 6.62%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 18 $10,150,000 $563,889 $7,054 6.56%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 25 $9,155,000 $366,200 $9,608 6.92%
VALLEJO, CA (FHA|USDA|VA) 15 $5,545,000 $369,667 $8,178 5.36%
WINCHESTER, VA-WV (FHA|USDA|VA) 17 $5,015,000 $295,000 $10,675 7.01%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 5 $4,305,000 $861,000 $4,496 6.65%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 16 $3,900,000 $243,750 $9,499 6.63%
Outside of Metro Areas 13 $3,585,000 $275,769 $8,777 6.93%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 5 $2,045,000 $409,000 $13,843 6.92%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $1,705,000 $568,333 $5,572 6.17%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $1,590,000 $397,500 $7,610 7.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $1,580,000 $395,000 $8,341 6.65%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $1,575,000 $525,000 $14,649 6.37%
RICHMOND, VA (FHA|USDA|VA) 5 $1,445,000 $289,000 $7,861 6.70%
HARRISONBURG, VA (FHA|USDA|VA) 5 $1,395,000 $279,000 $9,294 6.95%
SALISBURY, MD-DE (FHA|USDA|VA) 3 $1,315,000 $438,333 $9,194 7.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $1,210,000 $605,000 $8,290 6.63%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $1,180,000 $590,000 $6,596 6.44%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $1,140,000 $285,000 $7,200 7.12%
NAPA, CA (FHA|USDA|VA) 2 $1,110,000 $555,000 $10,647 6.81%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $1,105,000 $1,105,000 $5,947 5.63%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $1,100,000 $550,000 $5,862 7.25%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $1,085,000 $361,667 $6,985 7.42%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $1,035,000 $345,000 $12,151 6.75%
STOCKTON, CA (FHA|USDA|VA) 3 $985,000 $328,333 $8,154 4.17%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $980,000 $490,000 $7,517 6.31%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $965,000 $321,667 $8,479 6.58%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $930,000 $465,000 $8,242 7.31%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $920,000 $460,000 $15,459 5.87%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $885,000 $885,000 $4,659 6.75%
THE VILLAGES, FL (FHA|USDA|VA) 1 $725,000 $725,000 $7,315 6.88%
Payson, AZ (FHA|USDA|VA) 1 $725,000 $725,000 $2,964 7.63%
REDDING, CA (FHA|USDA|VA) 2 $720,000 $360,000 $5,296 8.06%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $710,000 $355,000 $6,596 6.37%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $695,000 $231,667 $8,498 6.96%
KNOXVILLE, TN (FHA|USDA|VA) 2 $650,000 $325,000 $9,440 7.38%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $630,000 $315,000 $7,043 6.88%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 3 $595,000 $198,333 $10,262 7.54%
Cambridge, MD (FHA|USDA|VA) 2 $480,000 $240,000 $8,524 7.06%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $480,000 $240,000 $6,676 6.56%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $455,000 $455,000 $4,288 6.38%
ROANOKE, VA (FHA|USDA|VA) 1 $445,000 $445,000 $13,109 6.13%
TUCSON, AZ (FHA|USDA|VA) 1 $435,000 $435,000 $6,283 7.63%
COLUMBIA, SC (FHA|USDA|VA) 1 $435,000 $435,000 $7,091 5.75%
MADERA, CA (FHA|USDA|VA) 1 $395,000 $395,000 $4,619 6.50%
MODESTO, CA (FHA|USDA|VA) 1 $365,000 $365,000 $3,916 7.99%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $345,000 $345,000 $0 7.63%
PITTSBURGH, PA (FHA|USDA|VA) 1 $325,000 $325,000 $4,557 6.88%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $305,000 $305,000 $0 8.13%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $305,000 $305,000 $8,724 7.63%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $275,000 $275,000 $6,681 6.88%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $265,000 $265,000 $11,151 6.75%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $265,000 $265,000 $4,198 7.13%
CHICO, CA (FHA|USDA|VA) 1 $245,000 $245,000 $7,806 7.13%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $205,000 $205,000 $10,508 6.13%
SAVANNAH, GA (FHA|USDA|VA) 1 $205,000 $205,000 $8,043 6.75%
STAUNTON, VA (FHA|USDA|VA) 2 $200,000 $100,000 $3,487 5.75%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $195,000 $195,000 $3,204 6.13%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $195,000 $195,000 $6,178 6.99%
Gaffney, SC (FHA|USDA|VA) 1 $175,000 $175,000 $3,530 6.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $175,000 $175,000 $5,666 7.63%
READING, PA (FHA|USDA|VA) 1 $155,000 $155,000 $4,433 6.88%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.95%
Big Spring, TX (FHA|USDA|VA) 1 $85,000 $85,000 $2,807 6.88%
Vellum Mortgage's top markets include Washington, San Francisco, Baltimore, Dallas, and Sacramento among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Similar Lenders

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

    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 42
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    JOHNSON MORTGAGE COMPANY, L.L.C.
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    FIRST FINANCIAL OF MARYLAND
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    PATRIOT
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    POINT BREEZE
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 885 $419,155,000 $473,621 $7,558 6.71%
    FHA 203 $86,955,000 $428,350 $15,468 6.67%
    VA 140 $78,010,000 $557,214 $15,693 6.35%
    USDA 7 $1,875,000 $267,857 $9,274 6.70%

    For 2023, Vellum Mortgage's most frequently originated type of loan was Conventional, with 885 originations. Their 2nd most popular type was FHA, with 203 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,195 $570,785,000 $477,644 $9,908 6.65%
    Cash Out Refi 22 $7,620,000 $346,364 $8,544 7.13%
    Refi 15 $7,045,000 $469,667 $6,223 6.58%
    Home Improvement 3 $545,000 $181,667 $5,926 7.13%

    For 2023, Vellum Mortgage's most frequently cited loan purpose was Home Purchase, with 1,195 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,211 $578,895,000 $478,031 $9,912 6.66%
    15 Year 15 $5,395,000 $359,667 $7,145 6.23%
    10 Year 5 $85,000 $17,000 $136 9.73%
    20 Year 4 $1,620,000 $405,000 $5,410 6.65%

    For 2023, Vellum Mortgage's most frequently cited loan duration was 30 Year, with 1,211 originations. The 2nd most popular length was 15 Year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 545 $281,145,000 $515,862
    $5k+ 369 $191,555,000 $519,119
    $4k-5k 110 $42,010,000 $381,909
    $3k-4k 93 $32,865,000 $353,387
    $2k-3k 72 $30,340,000 $421,389
    $<1k 24 $1,530,000 $63,750

    Vellum Mortgage's average total fees were $9,912, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 545 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 689 $332,075,000 $481,967
    7-8% 324 $146,200,000 $451,235
    5-6% 192 $100,590,000 $523,906
    Over 8% 17 $5,085,000 $299,118
    <2.5% 10 $860,000 $86,000
    4-5% 3 $1,185,000 $395,000

    During 2023, Vellum Mortgage's average interest rate for loans was 6.66%, while their most frequently originated rate bucket for loans was 6-7%, with 689 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 428 $134,350,000 $313,902 $8,742 6.74%
    $400k-600k 384 $184,540,000 $480,573 $10,513 6.68%
    $600k-1MM 252 $183,990,000 $730,119 $11,514 6.63%
    $100k-200k 85 $13,585,000 $159,824 $5,391 6.62%
    $1MM+ 59 $68,515,000 $1,161,271 $14,986 6.54%
    $100,000 or less 27 $1,015,000 $37,593 $1,493 5.99%

    2023 saw Vellum Mortgage place emphasis on $200k-400k loans with 428 originations, totaling $134,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 359 $146,045,000 $406,811 $10,164 6.66%
    $150k-250k 346 $190,260,000 $549,884 $10,111 6.71%
    $75k-100k 203 $64,845,000 $319,433 $9,199 6.47%
    $250k+ 202 $155,590,000 $770,248 $10,896 6.75%
    $50k-75k 106 $26,520,000 $250,189 $7,633 6.71%
    $50k or less 19 $2,735,000 $143,947 $6,168 6.77%

    Vellum Mortgage lent most frequently to those with incomes in the $100k-150k range, with 359 originations. The second most popular income band? $150k-250k, with 346 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 171 $85,985,000 $502,836 $8,031 6.74%
    20-30% 127 $60,975,000 $480,118 $8,083 6.74%
    50-60% 122 $56,490,000 $463,033 $15,010 6.47%
    49% 68 $32,320,000 $475,294 $9,405 6.95%
    42% 66 $29,430,000 $445,909 $9,830 6.67%
    48% 64 $28,500,000 $445,313 $11,032 6.70%
    44% 62 $27,270,000 $439,839 $11,288 6.37%
    43% 60 $26,800,000 $446,667 $8,757 6.72%
    40% 55 $27,875,000 $506,818 $9,794 6.68%
    46% 54 $25,040,000 $463,704 $10,101 6.63%
    39% 54 $26,770,000 $495,741 $8,901 6.84%
    45% 51 $25,095,000 $492,059 $10,527 6.76%
    41% 50 $22,890,000 $457,800 $9,623 6.67%
    38% 50 $25,970,000 $519,400 $8,137 6.71%
    37% 49 $23,595,000 $481,531 $9,531 6.45%
    47% 48 $20,960,000 $436,667 $9,075 6.66%
    36% 42 $21,620,000 $514,762 $9,782 6.69%
    <20% 35 $14,225,000 $406,429 $7,236 6.47%
    >60% 7 $4,185,000 $597,857 $17,500 5.52%

    Vellum Mortgage lent most frequently to those with DTI ratios of 30-36%, with 171 originations. The next most common DTI ratio? 20-30%, with 127 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 604 $290,150,000 $480,381 $9,460 6.70%
    Not provided 350 $159,570,000 $455,914 $10,274 6.63%
    Black 143 $63,385,000 $443,252 $11,468 6.77%
    Asian 96 $50,870,000 $529,896 $8,247 6.52%
    Asian Indian 9 $6,015,000 $668,333 $10,864 6.53%
    American Indian 12 $5,180,000 $431,667 $10,013 5.67%
    Other Asian 7 $3,785,000 $540,714 $11,213 6.68%
    Chinese 4 $1,920,000 $480,000 $5,096 6.94%
    Japanese 3 $1,745,000 $581,667 $6,399 6.37%
    Filipino 4 $1,610,000 $402,500 $9,672 7.15%
    Other Pacific Islander 1 $755,000 $755,000 $6,252 6.00%
    Vietnamese 1 $575,000 $575,000 $6,020 6.38%
    Samoan 1 $435,000 $435,000 $6,283 7.63%

    Approval Rates

    Total approvals of all applications
    94.85%

    Vellum Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.81%

    Vellum Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,235 $585,995,000 $474,490

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,235 $585,995,000 $474,490

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 39 $10,345,000 $265,256 $5,061 6.15%
    40-60% 104 $41,190,000 $396,058 $7,476 6.71%
    60-80% 290 $158,180,000 $545,448 $8,421 6.72%
    80-100% 730 $348,710,000 $477,685 $10,255 6.71%
    Over 100% 50 $26,800,000 $536,000 $22,825 6.36%
    Under 20% 22 $770,000 $35,000 $714 5.80%