Velocio Mortgage Rates, Fees & Info

HOUSTON, TX

LEI: 549300OQMU3ID8QA6M46

Tax ID: 81-3467488

4.5 stars - Updated: 11/17/24 - out of 5 stars, based on 63 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Velocio Mortgage is a small mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Velocio Mortgage has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Phoenix, Dallas, Austin, San Antonio, and Charleston among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Velocio 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. Velocio 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 6.54% 11/17/24
    30 Year Conventional Refi 6.55% 11/17/24
    30 Year Cash-out Refi 7.00% 11/17/24
    30 Year FHA Purchase 7.10% 11/17/24
    30 Year FHA Refi 6.27% 11/17/24
    30 Year VA Purchase 6.06% 11/17/24
    30 Year USDA Purchase 6.27% 11/17/24
    15 Year Conventional Purchase 5.89% 11/17/24
    15 Year VA Purchase 6.29% 11/17/24
    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.

    Velocio Mortgage Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Velocio 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

    4,028

    Origination Dollar Volume (All Markets)

    $1,432,880,000
    Show all (32) awards

    Relative Rate

    Velocio Mortgage's average 30 year fixed mortgage rate was 5.84%.

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

    This yields a difference of -0.64%.

    Relative Fees (Closing Costs)

    Velocio Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $11,561.

    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
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 831 $329,495,000 $396,504 $12,910 5.74%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 731 $246,215,000 $336,819 $10,869 6.03%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 649 $230,335,000 $354,908 $12,540 5.78%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 604 $190,870,000 $316,010 $9,972 5.52%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 345 $122,985,000 $356,478 $8,988 5.73%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 366 $113,330,000 $309,645 $11,222 5.86%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 234 $97,430,000 $416,368 $12,863 5.82%
    RALEIGH-CARY, NC (FHA|USDA|VA) 76 $32,140,000 $422,895 $11,283 6.52%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 44 $19,770,000 $449,318 $11,943 6.56%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 41 $16,365,000 $399,146 $12,410 5.80%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 40 $14,130,000 $353,250 $12,741 6.59%
    FAYETTEVILLE, NC (FHA|USDA|VA) 30 $9,310,000 $310,333 $8,459 6.15%
    GOLDSBORO, NC (FHA|USDA|VA) 15 $4,265,000 $284,333 $9,743 5.72%
    Wilson, NC (FHA|USDA|VA) 11 $3,125,000 $284,091 $8,457 5.63%
    NEW BERN, NC (FHA|USDA|VA) 3 $835,000 $278,333 $7,827 6.16%
    ROCKY MOUNT, NC (FHA|USDA|VA) 3 $765,000 $255,000 $7,880 6.62%
    TUCSON, AZ (FHA|USDA|VA) 1 $425,000 $425,000 $19,441 5.75%
    Outside of Metro Areas 1 $365,000 $365,000 $17,580 6.38%
    Henderson, NC (FHA|USDA|VA) 1 $275,000 $275,000 $5,263 5.99%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $225,000 $225,000 $6,927 6.75%
    LAREDO, TX (FHA|USDA|VA) 1 $225,000 $225,000 $7,905 5.99%
    Velocio Mortgage's top markets include Phoenix, Dallas, Austin, San Antonio, and Charleston among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

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

    SCIENT Federal Credit Union
    Similarity Rank: 110
    AMOCO
    Similarity Rank: 258
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 296
    GIBRALTAR MORTGAGE SERVICES, LLC
    Similarity Rank: 360
    Barley Mortgage, LLC
    Similarity Rank: 420
    ORLANDO CREDIT UNION
    Similarity Rank: 459
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 552
    SHELTER LENDING SERVICES, L.L.C.
    Similarity Rank: 588
    Terrabank
    Similarity Rank: 660
    TrustCo Bank
    Similarity Rank: 672

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 1,877 $659,865,000 $351,553 $14,405 5.58%
    Conventional 1,498 $534,000,000 $356,475 $8,700 6.25%
    VA 651 $238,365,000 $366,152 $8,285 5.52%
    USDA 2 $650,000 $325,000 $11,344 5.12%

    For 2023, Velocio Mortgage's most frequently originated type of loan was FHA, with 1,877 originations. Their 2nd most popular type was Conventional, with 1,498 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 4,027 $1,432,635,000 $355,757 $11,427 5.82%
    Refi 1 $245,000 $245,000 $9,257 7.50%

    For 2023, Velocio Mortgage's most frequently cited loan purpose was Home Purchase, with 4,027 originations. The 2nd most popular reason was Refi, with 1 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,927 $1,409,745,000 $358,988 $11,561 5.84%
    15 Year 68 $19,770,000 $290,735 $7,095 5.72%
    3 Year 14 $90,000 $6,429 $0 0.00%
    20 Year 10 $2,950,000 $295,000 $5,481 5.98%
    10 Year 9 $325,000 $36,111 $118 8.00%

    For 2023, Velocio Mortgage's most frequently cited loan duration was 30 Year, with 3,927 originations. The 2nd most popular length was 15 Year, with 68 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 1,484 $610,700,000 $411,523
    $<1k 1,242 $410,860,000 $330,805
    $4k-5k 652 $208,210,000 $319,340
    $3k-4k 182 $52,910,000 $290,714
    $1k-2k 163 $57,635,000 $353,589
    $2k-3k 107 $36,545,000 $341,542

    Velocio Mortgage's average total fees were $11,561, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1,484 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 2,089 $742,675,000 $355,517
    6-7% 853 $324,795,000 $380,768
    4-5% 713 $238,525,000 $334,537
    7-8% 314 $115,740,000 $368,599
    Over 8% 33 $9,765,000 $295,909
    <2.5% 19 $115,000 $6,053
    3-4% 7 $1,265,000 $180,714

    During 2023, Velocio Mortgage's average interest rate for loans was 5.84%, while their most frequently originated rate bucket for loans was 5-6%, with 2,089 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,749 $877,185,000 $319,092 $10,717 5.78%
    $400k-600k 1,023 $471,815,000 $461,207 $14,083 5.95%
    $100k-200k 124 $19,630,000 $158,306 $3,737 5.84%
    $600k-1MM 95 $63,135,000 $664,579 $15,670 6.39%
    $100,000 or less 37 $1,115,000 $30,135 $242 3.41%

    2023 saw Velocio Mortgage place emphasis on $200k-400k loans with 2,749 originations, totaling $877,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,372 $510,530,000 $372,106 $11,843 5.85%
    $75k-100k 1,051 $347,815,000 $330,937 $11,201 5.62%
    $150k-250k 768 $317,100,000 $412,891 $12,346 6.19%
    $50k-75k 598 $172,650,000 $288,712 $9,935 5.41%
    $250k+ 204 $78,300,000 $383,824 $12,688 6.56%
    $50k or less 35 $6,485,000 $185,286 $5,062 5.29%

    Velocio Mortgage lent most frequently to those with incomes in the $100k-150k range, with 1,372 originations. The second most popular income band? $75k-100k, with 1,051 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 894 $312,350,000 $349,385 $12,934 5.57%
    30-36% 471 $169,725,000 $360,350 $10,586 5.93%
    20-30% 350 $121,780,000 $347,943 $10,402 5.94%
    49% 268 $98,110,000 $366,082 $10,578 5.97%
    48% 198 $70,260,000 $354,848 $10,941 5.77%
    47% 185 $66,675,000 $360,405 $12,026 5.87%
    44% 168 $61,940,000 $368,690 $11,188 5.92%
    45% 164 $58,530,000 $356,890 $12,234 5.79%
    46% 160 $56,550,000 $353,438 $11,547 5.77%
    43% 155 $55,895,000 $360,613 $11,650 5.96%
    42% 153 $55,155,000 $360,490 $11,291 5.87%
    40% 141 $53,905,000 $382,305 $10,582 5.85%
    39% 135 $50,815,000 $376,407 $11,483 5.96%
    37% 129 $45,285,000 $351,047 $11,067 5.88%
    41% 126 $44,810,000 $355,635 $11,766 5.87%
    36% 118 $41,800,000 $354,237 $10,666 5.91%
    38% 105 $38,995,000 $371,381 $11,765 5.78%
    <20% 85 $21,485,000 $252,765 $6,548 6.07%
    >60% 23 $8,815,000 $383,261 $8,709 5.64%

    Velocio Mortgage lent most frequently to those with DTI ratios of 50-60%, with 894 originations. The next most common DTI ratio? 30-36%, with 471 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,020 $716,540,000 $354,723 $11,349 5.76%
    Not provided 596 $211,400,000 $354,698 $11,490 5.83%
    Black 534 $191,490,000 $358,596 $11,756 5.70%
    Asian 404 $149,220,000 $369,356 $11,065 6.20%
    American Indian 225 $76,705,000 $340,911 $11,912 5.70%
    Asian Indian 135 $47,975,000 $355,370 $11,347 6.26%
    Other Asian 54 $17,700,000 $327,778 $11,122 5.79%
    Filipino 21 $7,945,000 $378,333 $9,732 5.64%
    Other Pacific Islander 9 $3,005,000 $333,889 $11,164 5.53%
    Native Hawaiian or Islander 7 $2,715,000 $387,857 $11,718 6.25%
    Korean 5 $2,275,000 $455,000 $15,878 6.33%
    Vietnamese 6 $1,810,000 $301,667 $10,088 5.94%
    Chinese 6 $1,800,000 $300,000 $11,496 5.81%
    Samoan 3 $1,195,000 $398,333 $14,461 5.88%
    Japanese 2 $710,000 $355,000 $8,946 5.81%
    Guamanian 1 $395,000 $395,000 $2,401 6.75%

    Approval Rates

    Total approvals of all applications
    94.91%

    Velocio Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.64%

    Velocio Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,028 $1,432,880,000 $355,730

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,028 $1,432,880,000 $355,730

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 63 $9,595,000 $152,302 $3,586 6.01%
    40-60% 143 $34,645,000 $242,273 $6,657 6.05%
    60-80% 557 $192,515,000 $345,628 $8,712 6.32%
    80-100% 2,998 $1,111,880,000 $370,874 $12,162 5.77%
    Over 100% 230 $82,990,000 $360,826 $13,222 5.49%
    Under 20% 37 $1,255,000 $33,919 $710 3.30%