Velocio Mortgage Rates, Fees & Info
HOUSTON, TXLEI: 549300OQMU3ID8QA6M46
Tax ID: 81-3467488
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Mortgage Data
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.54% | 11/3/24 |
30 Year Conventional Refi | 6.55% | 11/3/24 |
30 Year Cash-out Refi | 7.00% | 11/3/24 |
30 Year FHA Purchase | 7.10% | 11/3/24 |
30 Year FHA Refi | 6.27% | 11/3/24 |
30 Year VA Purchase | 6.06% | 11/3/24 |
30 Year USDA Purchase | 6.27% | 11/3/24 |
15 Year Conventional Purchase | 5.89% | 11/3/24 |
15 Year VA Purchase | 6.29% | 11/3/24 |
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
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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
4,028Origination Dollar Volume (All Markets)
$1,432,880,000VELOCIO MORTGAGE - 2023
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For 2023, less than of lenders were eligible for this award.
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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% |
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.
Similarity Rank: 110
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Product Mix
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
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
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
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
2023 saw Velocio Mortgage place emphasis on $200k-400k loans with 2,749 originations, totaling $877,185,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications94.91%
Velocio Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination79.64%
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 |