Vellum Mortgage Rates, Fees & Info
Fairfax, VALEI: 549300IPUHFA5O769M51
Tax ID: 81-5318646
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Vellum Mortgage is a small mortgage company specializing in Home Purchase and Refi 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, California, Richmond, and Virginia Beach among others. We have data for 52 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 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
2,741Origination Dollar Volume (All Markets)
$1,238,485,000Awards
Vellum Mortgage - 2021
Vellum Mortgage is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for Vellum Mortgage?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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) | 2,282 | $1,078,930,000 | $472,800 | $6,415 | 2.94% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 171 | $67,795,000 | $396,462 | $6,149 | 2.96% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 62 | $22,720,000 | $366,452 | $6,522 | 3.07% |
| Outside of Metro Areas | 39 | $10,045,000 | $257,564 | $5,685 | 2.88% |
| RICHMOND, VA (FHA|USDA|VA) | 27 | $9,575,000 | $354,630 | $4,408 | 3.09% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 23 | $7,265,000 | $315,870 | $4,434 | 3.08% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 14 | $4,350,000 | $310,714 | $4,136 | 2.91% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 16 | $3,940,000 | $246,250 | $5,585 | 3.20% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 12 | $3,300,000 | $275,000 | $5,836 | 3.23% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $2,710,000 | $451,667 | $8,462 | 3.00% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 6 | $2,070,000 | $345,000 | $5,341 | 3.08% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 8 | $2,060,000 | $257,500 | $4,296 | 3.06% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $1,910,000 | $318,333 | $5,641 | 3.17% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $1,525,000 | $508,333 | $9,972 | 3.13% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 5 | $1,515,000 | $303,000 | $5,925 | 2.98% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $1,235,000 | $411,667 | $5,383 | 3.08% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 3 | $1,215,000 | $405,000 | $5,149 | 2.92% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $1,150,000 | $287,500 | $4,064 | 3.19% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2 | $1,090,000 | $545,000 | $3,602 | 2.81% |
| HARRISONBURG, VA (FHA|USDA|VA) | 5 | $965,000 | $193,000 | $3,410 | 3.50% |
| LYNCHBURG, VA (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $3,461 | 2.79% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $5,488 | 2.81% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $5,301 | 3.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $6,602 | 3.06% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $6,374 | 3.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $6,219 | 3.06% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $4,844 | 3.25% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $23,729 | 2.88% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $5,871 | 3.63% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $5,139 | 2.88% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $7,432 | 2.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $4,968 | 3.31% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $5,118 | 3.13% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $5,429 | 2.50% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,519 | 2.94% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $8,683 | 3.13% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,442 | 3.00% |
| GETTYSBURG, PA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $4,027 | 3.06% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,350 | 3.25% |
| Somerset, PA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,727 | 2.38% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,567 | 2.50% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $8,100 | 3.38% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,671 | 2.25% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,769 | 2.88% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,609 | 2.25% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,893 | 3.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,602 | 3.63% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,001 | 2.38% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,235 | 3.38% |
| OCALA, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,588 | 3.38% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,771 | 3.50% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,834 | 3.38% |
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.
Similarity Rank: 228
Similarity Rank: 420
Similarity Rank: 477
Similarity Rank: 544
Similarity Rank: 632
Similarity Rank: 676
Similarity Rank: 722
Similarity Rank: 736
Similarity Rank: 860
Similarity Rank: 1164
Product Mix
For 2021, Vellum Mortgage's most frequently originated type of loan was Conventional, with 2,177 originations. Their 2nd most popular type was VA, with 284 originations.
Loan Reason
For 2021, Vellum Mortgage's most frequently cited loan purpose was Home Purchase, with 1,651 originations. The 2nd most popular reason was Refi, with 776 originations.
Loan Duration/Length
For 2021, Vellum Mortgage's most frequently cited loan duration was 30 Year, with 2,564 originations. The 2nd most popular length was 15 Year, with 117 originations.
Origination Fees/Closing Costs
Vellum Mortgage's average total fees were $6,495, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,364 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 1,376 | $644,280,000 | $468,227 |
| 3-4% | 958 | $421,600,000 | $440,084 |
| <2.5% | 389 | $165,665,000 | $425,874 |
| 4-5% | 18 | $6,940,000 | $385,556 |
During 2021, Vellum Mortgage's average interest rate for loans was 2.98%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,376 originations.
Loan Sizing
2021 saw Vellum Mortgage place emphasis on $200k-400k loans with 1,108 originations, totaling $340,430,000 in origination value.
Applicant Income
Vellum Mortgage lent most frequently to those with incomes in the $100k-150k range, with 688 originations. The second most popular income band? $150k-250k, with 637 originations.
Applicant Debt to Income Ratio
Vellum Mortgage lent most frequently to those with DTI ratios of 20-30%, with 550 originations. The next most common DTI ratio? 30-36%, with 523 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.53%
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 origination87.92%
Vellum Mortgage has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,741 | $1,238,485,000 | $451,837 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2,741 | $1,238,485,000 | $451,837 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Vellum Mortgage, Inc. | VA mortgage | Trouble during payment process | 1 | 100.0% |