Vellum Mortgage Rates, Fees & Info

Fairfax, VA

LEI: 549300IPUHFA5O769M51

Tax ID: 81-5318646

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Vellum Mortgage is a small mortgage company specializing in Refi and 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, Baltimore, Richmond, Winchester, and Virginia Beach among others. We have data for 42 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 an above average pick rate when compared to similar lenders. Vellum Mortgage 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.

    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% 12/16/24
    30 Year Conventional Refi 6.52% 12/16/24
    30 Year Cash-out Refi 6.65% 12/16/24
    30 Year FHA Purchase 7.54% 12/16/24
    30 Year FHA Refi 7.30% 12/16/24
    30 Year VA Purchase 6.29% 12/16/24
    30 Year VA Refi 5.59% 12/16/24
    30 Year USDA Purchase 7.00% 12/16/24
    15 Year Conventional Purchase 5.92% 12/16/24
    15 Year Conventional Refi 5.83% 12/16/24
    15 Year Cash-out Refi 5.83% 12/16/24
    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

    3,071

    Origination Dollar Volume (All Markets)

    $1,287,455,000
    Show all (6) awards

    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) 2,749 $1,190,585,000 $433,097 $5,374 2.98%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 129 $43,765,000 $339,264 $4,485 2.95%
    RICHMOND, VA (FHA|USDA|VA) 33 $8,475,000 $256,818 $3,587 3.00%
    Outside of Metro Areas 31 $6,805,000 $219,516 $4,082 2.90%
    WINCHESTER, VA-WV (FHA|USDA|VA) 21 $5,225,000 $248,810 $5,257 2.91%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 10 $4,010,000 $401,000 $3,846 2.86%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 8 $3,140,000 $392,500 $4,825 2.84%
    SALISBURY, MD-DE (FHA|USDA|VA) 7 $2,365,000 $337,857 $3,249 2.70%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 7 $2,165,000 $309,286 $4,005 2.84%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 8 $1,960,000 $245,000 $4,005 3.14%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 6 $1,850,000 $308,333 $2,809 2.96%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $1,305,000 $261,000 $4,196 3.13%
    Kill Devil Hills, NC (FHA|USDA|VA) 3 $1,185,000 $395,000 $3,835 2.79%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 4 $1,170,000 $292,500 $5,728 2.94%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $1,165,000 $233,000 $4,886 2.60%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 3 $1,045,000 $348,333 $3,760 2.75%
    LYNCHBURG, VA (FHA|USDA|VA) 4 $1,030,000 $257,500 $3,683 3.00%
    HARRISONBURG, VA (FHA|USDA|VA) 3 $1,025,000 $341,667 $7,126 2.96%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 5 $995,000 $199,000 $4,497 2.85%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 4 $880,000 $220,000 $4,022 2.59%
    Easton, MD (FHA|USDA|VA) 1 $825,000 $825,000 $11,970 3.25%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $690,000 $345,000 $3,439 3.31%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $530,000 $265,000 $3,755 2.94%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $515,000 $515,000 $4,224 2.50%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $455,000 $455,000 $4,120 2.75%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $450,000 $225,000 $3,067 2.81%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $425,000 $425,000 $5,011 3.75%
    KNOXVILLE, TN (FHA|USDA|VA) 2 $420,000 $210,000 $5,493 3.56%
    Cornelia, GA (FHA|USDA|VA) 1 $405,000 $405,000 $5,225 2.25%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $345,000 $345,000 $5,771 3.63%
    WILMINGTON, NC (FHA|USDA|VA) 1 $285,000 $285,000 $3,601 3.00%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $265,000 $265,000 $4,579 2.75%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $245,000 $245,000 $11,651 3.38%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $225,000 $225,000 $3,606 2.50%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $215,000 $215,000 $3,080 3.50%
    COLUMBIA, SC (FHA|USDA|VA) 1 $205,000 $205,000 $3,707 3.25%
    SAVANNAH, GA (FHA|USDA|VA) 1 $175,000 $175,000 $3,813 3.38%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $165,000 $165,000 $3,085 3.13%
    STAUNTON, VA (FHA|USDA|VA) 1 $155,000 $155,000 $2,569 2.75%
    ROANOKE, VA (FHA|USDA|VA) 1 $125,000 $125,000 $2,620 3.25%
    Henderson, NC (FHA|USDA|VA) 1 $125,000 $125,000 $3,023 2.63%
    Elkins, WV (FHA|USDA|VA) 1 $65,000 $65,000 $3,229 2.63%
    Vellum Mortgage's top markets include Washington, Baltimore, Richmond, Winchester, and Virginia Beach among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (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.

    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 90
    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 271
    PATRIOT
    Similarity Rank: 289
    ABNB Federal Credit Union
    Similarity Rank: 496
    WINNPOINTE CORPORATION
    Similarity Rank: 528
    Huntingdon Valley Bank
    Similarity Rank: 640
    Hebron Savings Bank
    Similarity Rank: 680
    VICTORIA FINANCIAL CORP.
    Similarity Rank: 1088
    Poli Mortgage Group, Inc.
    Similarity Rank: 1100
    1ST NORTHERN CALIFORNIA
    Similarity Rank: 1120

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,540 $1,054,870,000 $415,303 $4,408 2.99%
    VA 314 $159,820,000 $508,981 $8,921 2.70%
    FHA 210 $71,080,000 $338,476 $10,081 3.14%
    USDA 6 $1,580,000 $263,333 $6,540 2.94%
    HELOC 1 $105,000 $105,000 n/a 4.25%

    For 2020, Vellum Mortgage's most frequently originated type of loan was Conventional, with 2,540 originations. Their 2nd most popular type was VA, with 314 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,577 $636,225,000 $403,440 $3,903 2.91%
    Home Purchase 1,250 $555,790,000 $444,632 $7,053 3.03%
    Cash Out Refi 239 $93,895,000 $392,866 $4,918 3.08%
    Home Improvement 5 $1,545,000 $309,000 $3,467 2.70%

    For 2020, Vellum Mortgage's most frequently cited loan purpose was Refi, with 1,577 originations. The 2nd most popular reason was Home Purchase, with 1,250 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,765 $1,186,065,000 $428,957 $5,480 3.00%
    15 Year 190 $64,350,000 $338,684 $3,254 2.57%
    20 Year 85 $27,045,000 $318,176 $3,317 2.89%
    Other 21 $7,355,000 $350,238 $3,506 2.95%
    10 Year 10 $2,640,000 $264,000 $3,616 2.56%

    For 2020, Vellum Mortgage's most frequently cited loan duration was 30 Year, with 2,765 originations. The 2nd most popular length was 15 Year, with 190 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,731 $1,116,775,000 $408,925
    $5k+ 105 $69,095,000 $658,048
    $2k-3k 103 $45,925,000 $445,874
    $3k-4k 59 $28,095,000 $476,186
    $<1k 36 $9,670,000 $268,611
    $4k-5k 36 $17,790,000 $494,167

    Vellum Mortgage's average total fees were $5,480, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,731 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,603 $673,475,000 $420,134
    3-4% 1,026 $438,970,000 $427,846
    <2.5% 398 $160,120,000 $402,312
    4-5% 44 $14,890,000 $338,409

    During 2020, Vellum Mortgage's average interest rate for loans was 3.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,603 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,359 $417,015,000 $306,854 $4,620 2.97%
    $400k-600k 980 $472,430,000 $482,071 $5,417 2.92%
    $600k-1MM 472 $335,550,000 $710,911 $7,257 3.06%
    $100k-200k 210 $34,540,000 $164,476 $3,609 3.01%
    $100,000 or less 30 $1,530,000 $51,000 $1,873 3.18%
    $1MM+ 20 $26,390,000 $1,319,500 $16,497 3.06%

    2020 saw Vellum Mortgage place emphasis on $200k-400k loans with 1,359 originations, totaling $417,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 767 $372,435,000 $485,574 $5,059 3.01%
    $100k-150k 765 $318,155,000 $415,889 $5,466 2.95%
    $75k-100k 458 $155,130,000 $338,712 $5,124 3.00%
    $50k-75k 391 $111,725,000 $285,742 $5,525 3.00%
    $250k+ 353 $211,195,000 $598,286 $5,727 3.05%
    $50k or less 197 $56,585,000 $287,234 $4,806 2.83%

    Vellum Mortgage lent most frequently to those with incomes in the $150k-250k range, with 767 originations. The second most popular income band? $100k-150k, with 765 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 752 $329,190,000 $437,753 $4,648 2.97%
    30-36% 525 $222,635,000 $424,067 $5,133 3.00%
    <20% 316 $132,000,000 $417,722 $3,937 2.88%
    44% 108 $40,530,000 $375,278 $5,392 3.11%
    37% 106 $41,390,000 $390,472 $5,263 2.92%
    39% 103 $47,025,000 $456,553 $6,649 3.07%
    36% 102 $44,560,000 $436,863 $5,677 3.07%
    42% 98 $38,180,000 $389,592 $5,676 3.09%
    41% 97 $41,175,000 $424,485 $5,757 3.06%
    43% 91 $34,805,000 $382,473 $5,038 3.03%
    38% 89 $37,165,000 $417,584 $6,087 2.99%
    40% 88 $33,470,000 $380,341 $5,226 3.08%
    50-60% 81 $33,225,000 $410,185 $10,422 3.02%
    46% 67 $27,535,000 $410,970 $6,314 2.93%
    45% 66 $24,250,000 $367,424 $4,740 3.12%
    48% 65 $25,525,000 $392,692 $5,998 2.91%
    49% 61 $25,945,000 $425,328 $6,648 3.04%
    47% 54 $18,600,000 $344,444 $6,438 3.01%
    >60% 8 $3,950,000 $493,750 $13,549 2.98%

    Vellum Mortgage lent most frequently to those with DTI ratios of 20-30%, with 752 originations. The next most common DTI ratio? 30-36%, with 525 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,075 $868,145,000 $418,383 $5,089 2.98%
    Not provided 511 $232,895,000 $455,763 $5,259 2.95%
    Black 258 $90,570,000 $351,047 $6,342 2.98%
    Asian 161 $66,475,000 $412,888 $5,851 2.91%
    Asian Indian 25 $11,905,000 $476,200 $3,926 3.02%
    Other Asian 11 $4,515,000 $410,455 $4,402 2.86%
    American Indian 9 $3,915,000 $435,000 $7,027 2.81%
    Korean 10 $3,700,000 $370,000 $3,522 2.84%
    Filipino 5 $2,575,000 $515,000 $13,388 3.20%
    Chinese 2 $1,020,000 $510,000 $5,205 3.13%
    Native Hawaiian or Islander 2 $820,000 $410,000 $3,761 3.13%
    Vietnamese 1 $555,000 $555,000 $3,306 2.88%
    Not applicable 1 $365,000 $365,000 $4,831 2.63%

    Approval Rates

    Total approvals of all applications
    99.40%

    Vellum Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    92.74%

    Vellum Mortgage has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,071 $1,287,455,000 $419,230

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $515,000 $515,000
    Single Family (1-4 Units):Manufactured 1 $215,000 $215,000
    Single Family (1-4 Units):Site-Built 3,069 $1,286,725,000 $419,265

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 79 $22,865,000 $289,430 $3,566 2.82%
    40-60% 445 $168,605,000 $378,888 $3,596 2.83%
    60-80% 1,159 $491,145,000 $423,766 $4,086 3.01%
    80-100% 1,192 $518,900,000 $435,319 $6,539 3.02%
    Over 100% 62 $32,870,000 $530,161 $19,330 2.77%
    Under 20% 19 $1,195,000 $62,895 $902 3.39%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Vellum Mortgage, Inc. Conventional home mortgage Struggling to pay mortgage 1 100.0%