Velocio Mortgage Rates, Fees & Info

HOUSTON, TX

LEI: 549300OQMU3ID8QA6M46

Tax ID: 81-3467488

1 stars - Updated: 2/26/24 - out of 5 stars, based on 56 reviews

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

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Mortgage Data

Review & Overview

Velocio Mortgage is a small mortgage company specializing in Home Purchase loans. Velocio Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Austin, Phoenix, Dallas, San Antonio, and Houston among others. We have data for 18 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 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 6.54% 2/26/24
30 Year Conventional Refi 6.55% 2/26/24
30 Year Cash-out Refi 7.00% 2/26/24
30 Year FHA Purchase 7.10% 2/26/24
30 Year FHA Refi 6.27% 2/26/24
30 Year VA Purchase 6.06% 2/26/24
30 Year USDA Purchase 6.27% 2/26/24
15 Year Conventional Purchase 5.89% 2/26/24
15 Year VA Purchase 6.29% 2/26/24
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

3,086

Origination Dollar Volume (All Markets)

$1,107,090,000

Relative Rate

Velocio Mortgage's average 30 year fixed mortgage rate was 4.84%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.08%.

Relative Fees (Closing Costs)

Velocio Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $11,376.

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 $4,750.

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
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 535 $207,425,000 $387,710 $12,456 4.83%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 466 $198,090,000 $425,086 $11,041 4.97%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 563 $196,075,000 $348,268 $12,316 4.86%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 447 $142,395,000 $318,557 $10,081 4.63%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 433 $139,795,000 $322,852 $11,229 4.63%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 207 $70,375,000 $339,976 $9,055 4.68%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 182 $67,840,000 $372,747 $12,136 4.87%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 117 $36,425,000 $311,325 $11,054 4.73%
RALEIGH-CARY, NC (FHA|USDA|VA) 58 $20,650,000 $356,034 $10,460 5.45%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 44 $12,820,000 $291,364 $9,450 4.98%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 24 $11,950,000 $497,917 $12,200 5.07%
FAYETTEVILLE, NC (FHA|USDA|VA) 3 $995,000 $331,667 $9,967 5.04%
Brenham, TX (FHA|USDA|VA) 1 $505,000 $505,000 $10,299 2.88%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $495,000 $495,000 $25,211 5.00%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 2 $490,000 $245,000 $9,031 5.00%
LAREDO, TX (FHA|USDA|VA) 1 $305,000 $305,000 $8,344 3.25%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $305,000 $305,000 $12,013 6.13%
OCALA, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 5.63%
Velocio Mortgage's top markets include Austin, Phoenix, Dallas, San Antonio, and Houston 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.

    First Credit Union
    Similarity Rank: 210
    Barley Mortgage, LLC
    Similarity Rank: 552
    AMOCO
    Similarity Rank: 810
    U S WIDE FINANCIAL LLC
    Similarity Rank: 864
    PRIMEWAY
    Similarity Rank: 1050
    ARIZONA CENTRAL
    Similarity Rank: 1166
    UNITED SECURITY FINANCIAL CORP
    Similarity Rank: 1170
    PREFERRED LENDING SERVICES, LLC
    Similarity Rank: 1218

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,977 $705,165,000 $356,684 $10,632 4.80%
    FHA 657 $226,375,000 $344,559 $14,147 4.93%
    VA 452 $175,550,000 $388,385 $9,422 4.63%

    For 2022, Velocio Mortgage's most frequently originated type of loan was Conventional, with 1,977 originations. Their 2nd most popular type was FHA, with 657 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 3,081 $1,105,495,000 $358,810 $11,270 4.80%
    Cash Out Refi 3 $1,135,000 $378,333 $11,088 4.29%
    Other 1 $165,000 $165,000 $5,833 6.75%
    Refi 1 $295,000 $295,000 $7,407 3.25%

    For 2022, Velocio Mortgage's most frequently cited loan purpose was Home Purchase, with 3,081 originations. The 2nd most popular reason was Cash Out Refi, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,968 $1,074,470,000 $362,018 $11,376 4.84%
    15 Year 99 $29,455,000 $297,525 $8,783 4.13%
    20 Year 10 $3,090,000 $309,000 $9,392 4.75%
    3 Year 9 $75,000 $8,333 $0 0.00%

    For 2022, Velocio Mortgage's most frequently cited loan duration was 30 Year, with 2,968 originations. The 2nd most popular length was 15 Year, with 99 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 1,426 $572,380,000 $401,388
    $<1k 604 $204,410,000 $338,427
    $4k-5k 381 $121,645,000 $319,278
    $1k-2k 144 $51,890,000 $360,347
    $3k-4k 134 $38,220,000 $285,224
    $2k-3k 89 $32,845,000 $369,045

    Velocio Mortgage's average total fees were $11,376, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1,426 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,054 $386,300,000 $366,509
    5-6% 868 $320,840,000 $369,631
    3-4% 681 $239,265,000 $351,344
    6-7% 303 $105,425,000 $347,937
    2.5-3% 72 $28,110,000 $390,417
    7-8% 68 $21,740,000 $319,706
    <2.5% 38 $5,030,000 $132,368
    Over 8% 2 $380,000 $190,000

    During 2022, Velocio Mortgage's average interest rate for loans was 4.84%, while their most frequently originated rate bucket for loans was 4-5%, with 1,054 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,053 $651,895,000 $317,533 $10,560 4.85%
    $400k-600k 812 $374,530,000 $461,244 $13,133 4.83%
    $600k-1MM 99 $66,045,000 $667,121 $16,538 4.77%
    $100k-200k 87 $13,625,000 $156,609 $5,492 4.96%
    $100,000 or less 35 $995,000 $28,429 $879 1.54%

    2022 saw Velocio Mortgage place emphasis on $200k-400k loans with 2,053 originations, totaling $651,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,011 $382,005,000 $377,849 $11,678 4.87%
    $75k-100k 782 $264,830,000 $338,657 $11,265 4.75%
    $150k-250k 572 $235,200,000 $411,189 $12,225 4.93%
    $50k-75k 491 $144,505,000 $294,308 $9,828 4.51%
    $250k+ 184 $71,030,000 $386,033 $12,287 5.15%
    $50k or less 46 $9,520,000 $206,957 $6,413 4.33%

    Velocio Mortgage lent most frequently to those with incomes in the $100k-150k range, with 1,011 originations. The second most popular income band? $75k-100k, with 782 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 469 $165,165,000 $352,164 $12,351 4.77%
    30-36% 427 $155,675,000 $364,578 $10,844 4.80%
    20-30% 341 $120,905,000 $354,560 $10,855 4.62%
    49% 178 $65,540,000 $368,202 $10,883 4.80%
    42% 146 $52,950,000 $362,671 $11,730 4.81%
    48% 144 $49,920,000 $346,667 $11,367 4.93%
    47% 144 $50,040,000 $347,500 $11,718 4.90%
    45% 132 $47,280,000 $358,182 $11,674 4.81%
    46% 127 $46,545,000 $366,496 $10,950 4.88%
    43% 126 $46,040,000 $365,397 $10,974 4.85%
    44% 123 $43,195,000 $351,179 $11,741 4.95%
    41% 117 $42,515,000 $363,376 $10,985 5.04%
    39% 114 $41,450,000 $363,596 $11,520 4.92%
    37% 113 $42,145,000 $372,965 $10,269 4.80%
    40% 104 $39,750,000 $382,212 $10,708 4.89%
    38% 94 $33,680,000 $358,298 $11,360 4.76%
    36% 89 $31,985,000 $359,382 $10,583 4.70%
    <20% 80 $25,650,000 $320,625 $9,951 4.60%
    >60% 18 $6,660,000 $370,000 $8,469 4.71%

    Velocio Mortgage lent most frequently to those with DTI ratios of 50-60%, with 469 originations. The next most common DTI ratio? 30-36%, with 427 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,263 $449,775,000 $356,116 $10,826 4.77%
    Not provided 565 $199,345,000 $352,823 $11,384 4.75%
    Asian 509 $184,455,000 $362,387 $11,817 4.90%
    Black 400 $148,660,000 $371,650 $11,758 4.80%
    American Indian 151 $52,825,000 $349,834 $11,862 4.81%
    Asian Indian 129 $49,095,000 $380,581 $12,115 4.90%
    Other Asian 34 $11,220,000 $330,000 $9,188 4.97%
    Filipino 10 $3,400,000 $340,000 $8,727 5.23%
    Chinese 6 $1,610,000 $268,333 $12,430 4.52%
    Other Pacific Islander 4 $1,500,000 $375,000 $12,582 5.22%
    Korean 4 $1,300,000 $325,000 $9,848 5.25%
    Native Hawaiian or Islander 3 $1,145,000 $381,667 $13,020 5.83%
    Vietnamese 3 $1,085,000 $361,667 $13,054 4.33%
    Japanese 3 $875,000 $291,667 $11,852 5.00%
    Guamanian 2 $800,000 $400,000 $10,451 4.19%

    Approval Rates

    Total approvals of all applications
    92.38%

    Velocio Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    60.08%

    Velocio Mortgage has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,086 $1,107,090,000 $358,746

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,086 $1,107,090,000 $358,746

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 63 $10,305,000 $163,571 $5,781 4.81%
    40-60% 112 $27,510,000 $245,625 $7,800 4.93%
    60-80% 667 $224,915,000 $337,204 $10,797 4.92%
    80-100% 2,051 $781,315,000 $380,943 $11,583 4.83%
    Over 100% 164 $62,570,000 $381,524 $14,487 4.62%
    Under 20% 29 $475,000 $16,379 $373 0.79%