Victory Mortgage Rates, Fees & Info

FORT MITCHELL, KY

LEI: 549300LEOR2LO8J9RT29

Tax ID: 61-1189425

5 stars - out of 5 stars, based on 54 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Victory Mortgage is a smaller mortgage company specializing in Home Purchase loans. Victory 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 include Cincinnati, Columbus, Indianapolis, Louisville/jefferson County, and Atlanta among others. Victory Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Victory Mortgage is typically an average fee lendor.


Originations

2,865

Origination Dollar Volume (All Markets)

$907,385,000
Show all (30) awards

Relative Rate

Victory Mortgage 's average 30 year fixed rate mortgage of loans were 2.78%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.37%.

Relative Fees

Victory Mortgage 's average total fees for a 30 year fixed rate mortgage are $3,434.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1,215 $357,845,000 $294,523 $3,188 2.75%
COLUMBUS, OH (FHA|USDA|VA) 451 $159,525,000 $353,714 $3,054 2.70%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 371 $123,625,000 $333,221 $2,814 2.74%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 354 $104,530,000 $295,282 $3,819 2.72%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 216 $81,440,000 $377,037 $3,722 2.76%
DAYTON-KETTERING, OH (FHA|USDA|VA) 195 $61,255,000 $314,128 $4,421 2.75%
Jefferson, GA (FHA|USDA|VA) 33 $12,535,000 $379,848 $3,836 2.77%
ST. LOUIS, MO-IL (FHA|USDA|VA) 10 $2,240,000 $224,000 $4,149 2.76%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $530,000 $265,000 $3,801 2.63%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $445,000 $445,000 $2,347 2.88%
AKRON, OH (FHA|USDA|VA) 2 $440,000 $220,000 $2,343 2.50%
Outside of Metro Areas 4 $410,000 $102,500 $2,741 2.88%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $365,000 $365,000 $2,982 2.75%
GAINESVILLE, GA (FHA|USDA|VA) 1 $335,000 $335,000 $3,475 3.13%
Calhoun, GA (FHA|USDA|VA) 1 $285,000 $285,000 $3,530 4.25%
BRUNSWICK, GA (FHA|USDA|VA) 1 $275,000 $275,000 $8,609 2.50%
Bardstown, KY (FHA|USDA|VA) 1 $265,000 $265,000 $2,836 2.50%
Bellefontaine, OH (FHA|USDA|VA) 1 $245,000 $245,000 $2,302 3.00%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 1 $215,000 $215,000 $6,837 2.75%
COLUMBUS, IN (FHA|USDA|VA) 1 $175,000 $175,000 $2,612 2.38%
BLOOMINGTON, IN (FHA|USDA|VA) 1 $155,000 $155,000 $1,814 2.13%
Danville, KY (FHA|USDA|VA) 1 $135,000 $135,000 $2,843 2.88%
Madison, IN (FHA|USDA|VA) 1 $115,000 $115,000 $3,312 2.63%

Victory Mortgage 's top markets include Cincinnati, Columbus, Indianapolis, Louisville/jefferson County, and Atlanta among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,228 $705,480,000 $316,643 $2,321 2.77%
FHA 349 $101,835,000 $291,791 $7,311 2.67%
VA 253 $91,225,000 $360,573 $6,566 2.54%
USDA 35 $8,845,000 $252,714 $4,600 2.57%

For the 2021 period, Victory Mortgage 's most frequently originated loan type of loans were Conventional, with 2,228 originations. Their 2nd most popular type is FHA, with 349 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 2,619 $842,975,000 $321,869 $3,431 2.75%
Refi 167 $45,515,000 $272,545 $2,240 2.56%
Cash Out Refi 75 $17,805,000 $237,400 $2,451 2.86%
Home Improvement 4 $1,090,000 $272,500 $1,408 2.66%

For the 2021, Victory Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 2,619 originations. The 2nd most popular reason of loans were Refi, with 167 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 2,638 $851,700,000 $322,858 $3,434 2.78%
15 Year 172 $41,640,000 $242,093 $2,121 2.23%
20 Year 37 $10,105,000 $273,108 $2,351 2.57%
10 Year 12 $1,850,000 $154,167 $1,881 2.09%
Other 6 $2,090,000 $348,333 $2,379 2.25%

For the 2021, Victory Mortgage 's most frequently cited loan length of loans were 30 Year, with 2,638 originations. The 2nd most popular length of loans were 15 Year, with 172 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 2,694 $848,840,000 $315,085
$1k-2k 91 $29,675,000 $326,099
$3k-4k 35 $12,405,000 $354,429
$2k-3k 30 $11,550,000 $385,000
$5k+ 13 $4,555,000 $350,385

$3,434 of loans were Victory Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 2,694 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 1,714 $556,320,000 $324,574
<2.5% 810 $241,830,000 $298,556
3-4% 333 $107,615,000 $323,168
4-5% 8 $1,620,000 $202,500

During 2021, Victory Mortgage 's average interest rate of loans were 2.78%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,714 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,868 $556,920,000 $298,137 $3,489 2.73%
$400k-600k 574 $270,170,000 $470,679 $3,510 2.77%
$100k-200k 354 $56,690,000 $160,141 $2,282 2.73%
$100,000 or less 42 $3,280,000 $78,095 $1,683 2.72%
$600k-1MM 26 $17,850,000 $686,538 $5,065 2.90%
$1MM+ 1 $2,475,000 $2,475,000 $9,148 3.63%

2021 saw Victory Mortgage place emphasis on $200k-400k loans with 1,868 originations, totaling $556,920,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 860 $287,110,000 $333,849 $3,131 2.74%
$75k-100k 636 $185,980,000 $292,421 $3,940 2.75%
$150k-250k 558 $211,380,000 $378,817 $3,114 2.75%
$50k-75k 496 $128,530,000 $259,133 $3,510 2.71%
$50k or less 185 $37,145,000 $200,784 $2,668 2.69%
$250k+ 130 $57,240,000 $440,308 $2,913 2.77%

Victory Mortgage lent most frequently to those with incomes in the $100k-150k range, with 860 originations. The second most popular income band? $75k-100k, with 636 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 729 $225,045,000 $308,704 $2,733 2.74%
30-36% 622 $199,260,000 $320,354 $3,140 2.75%
<20% 246 $74,330,000 $302,154 $2,362 2.66%
40% 112 $37,430,000 $334,196 $3,497 2.76%
39% 109 $35,695,000 $327,477 $3,553 2.78%
38% 98 $31,920,000 $325,714 $3,531 2.76%
42% 92 $29,850,000 $324,457 $3,196 2.77%
36% 92 $31,510,000 $342,500 $3,569 2.77%
50-60% 92 $28,060,000 $305,000 $7,227 2.63%
37% 91 $30,165,000 $331,484 $3,430 2.75%
44% 90 $28,280,000 $314,222 $3,424 2.74%
43% 88 $26,830,000 $304,886 $3,729 2.69%
41% 87 $27,315,000 $313,966 $4,174 2.81%
49% 65 $19,765,000 $304,077 $4,080 2.76%
45% 63 $21,445,000 $340,397 $3,400 2.78%
47% 58 $17,440,000 $300,690 $3,754 2.76%
48% 56 $18,310,000 $326,964 $5,427 2.79%
46% 54 $17,460,000 $323,333 $4,254 2.74%
>60% 1 $315,000 $315,000 $3,065 2.88%

Victory Mortgage lent most frequently to those with DTI ratios of 20-30%, with 729 originations. The next most common DTI ratio? 30-36%, with 622 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,973 $611,905,000 $310,139 $3,132 2.73%
Black 326 $109,800,000 $336,810 $4,560 2.76%
Not provided 301 $97,245,000 $323,073 $3,537 2.73%
Asian 177 $57,445,000 $324,548 $2,920 2.72%
Asian Indian 53 $19,975,000 $376,887 $2,916 2.79%
American Indian 16 $5,250,000 $328,125 $5,549 2.72%
Other Asian 14 $4,070,000 $290,714 $2,439 2.93%
Native Hawaiian 1 $545,000 $545,000 $3,596 2.75%
Japanese 1 $485,000 $485,000 $14,080 2.50%
Vietnamese 2 $470,000 $235,000 $1,900 2.63%
Other Pacific Islander 1 $195,000 $195,000 $2,849 2.88%

Approval Rates

Total approvals of all applications
97.89%

Victory 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
81.25%

Victory Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,865 $907,385,000 $316,714

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,865 $907,385,000 $316,714

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 69 $8,495,000 $123,116 $1,953 2.45%
40-60% 162 $36,260,000 $223,827 $2,109 2.62%
60-80% 766 $239,230,000 $312,311 $2,301 2.78%
80-100% 1,792 $598,240,000 $333,839 $3,580 2.75%
Over 100% 67 $24,575,000 $366,791 $13,112 2.55%
Under 20% 9 $585,000 $65,000 $1,552 2.51%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
VICTORY MORTGAGE, LLC Conventional home mortgage Closing on a mortgage 1 100.0%