Vellum Mortgage Rates, Fees & Info
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.56% | 4/24/24 |
| 30 Year Conventional Refi | 6.52% | 4/24/24 |
| 30 Year Cash-out Refi | 6.65% | 4/24/24 |
| 30 Year FHA Purchase | 7.54% | 4/24/24 |
| 30 Year FHA Refi | 7.30% | 4/24/24 |
| 30 Year VA Purchase | 6.29% | 4/24/24 |
| 30 Year VA Refi | 5.59% | 4/24/24 |
| 30 Year USDA Purchase | 7.00% | 4/24/24 |
| 15 Year Conventional Purchase | 5.92% | 4/24/24 |
| 15 Year Conventional Refi | 5.83% | 4/24/24 |
| 15 Year Cash-out Refi | 5.83% | 4/24/24 |
| 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
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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
1,235Origination Dollar Volume (All Markets)
$585,995,000Awards
Vellum Mortgage - 2023
Vellum Mortgage is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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Product Mix
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
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
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
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
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
2023 saw Vellum Mortgage place emphasis on $200k-400k loans with 428 originations, totaling $134,350,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications94.85%
Vellum Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination80.81%
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 |