Velocio Mortgage Rates, Fees & Info

HOUSTON, TX

LEI: 549300OQMU3ID8QA6M46

Tax ID: 81-3467488

1 stars - out of 5 stars, based on 56 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Velocio Mortgage is a smaller 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 include Austin, Dallas, San Antonio, Houston, and Phoenix among others. Velocio 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. Velocio Mortgage is typically a high fee lendor.


Originations

3,171

Origination Dollar Volume (All Markets)

$976,645,000

Relative Rate

Velocio Mortgage 's average 30 year fixed rate mortgage of loans were 3.07%.

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

This yields a difference of -0.08%.

Relative Fees

Velocio Mortgage 's average total fees for a 30 year fixed rate mortgage are $9,763.

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
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 614 $184,790,000 $300,961 $9,976 2.98%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 560 $160,630,000 $286,839 $10,392 3.10%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 493 $145,685,000 $295,507 $9,140 2.97%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 524 $144,400,000 $275,573 $9,731 2.95%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 367 $137,445,000 $374,510 $9,489 3.04%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 246 $76,930,000 $312,724 $8,556 3.16%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 138 $47,000,000 $340,580 $10,891 3.06%
RALEIGH-CARY, NC (FHA|USDA|VA) 101 $44,835,000 $443,911 $9,043 3.07%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 64 $16,190,000 $252,969 $9,452 3.24%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 27 $6,805,000 $252,037 $9,063 3.15%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 9 $4,455,000 $495,000 $10,219 2.85%
Outside of Metro Areas 9 $2,375,000 $263,889 $8,132 3.17%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 3 $1,095,000 $365,000 $9,011 3.04%
WILMINGTON, NC (FHA|USDA|VA) 1 $645,000 $645,000 $9,836 2.75%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $475,000 $475,000 $7,150 2.38%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $315,000 $315,000 $12,596 2.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $285,000 $285,000 $7,655 3.38%
Granbury, TX (FHA|USDA|VA) 1 $265,000 $265,000 $8,333 2.88%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $255,000 $255,000 $0 4.38%
NEW BERN, NC (FHA|USDA|VA) 1 $245,000 $245,000 $10,180 3.25%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $235,000 $235,000 $0 3.63%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $225,000 $225,000 $0 3.38%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $215,000 $215,000 $6,716 2.13%
Washington, NC (FHA|USDA|VA) 1 $195,000 $195,000 $8,905 3.25%
LAREDO, TX (FHA|USDA|VA) 1 $185,000 $185,000 $6,077 2.88%
COLUMBIA, SC (FHA|USDA|VA) 1 $155,000 $155,000 $4,912 2.75%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $105,000 $105,000 $0 2.88%
SAN ANGELO, TX (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.00%
LONGVIEW, TX (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.25%

Velocio Mortgage 's top markets include Austin, Dallas, San Antonio, Houston, and Phoenix among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,063 $642,515,000 $311,447 $8,903 2.99%
FHA 734 $205,180,000 $279,537 $12,711 3.17%
VA 374 $128,950,000 $344,786 $7,234 2.94%

For the 2021 period, Velocio Mortgage 's most frequently originated loan type of loans were Conventional, with 2,063 originations. Their 2nd most popular type is FHA, with 734 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 3,099 $954,055,000 $307,859 $9,696 3.03%
Refi 52 $15,790,000 $303,654 $7,574 2.85%
Cash Out Refi 19 $6,715,000 $353,421 $8,537 3.41%
Other 1 $85,000 $85,000 $2,581 3.63%

For the 2021, Velocio Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 3,099 originations. The 2nd most popular reason of loans were Refi, with 52 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 3,003 $937,035,000 $312,033 $9,763 3.07%
15 Year 124 $31,930,000 $257,500 $8,102 2.62%
20 Year 22 $6,850,000 $311,364 $9,972 2.86%
3 Year 16 $180,000 $11,250 $0 0.00%
Other 5 $255,000 $51,000 $2,527 0.63%
10 Year 1 $395,000 $395,000 $7,788 2.38%

For the 2021, Velocio Mortgage 's most frequently cited loan length of loans were 30 Year, with 3,003 originations. The 2nd most popular length of loans were 15 Year, with 124 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$3k-4k 1,349 $369,115,000 $273,621
$5k+ 957 $380,095,000 $397,173
$<1k 393 $108,615,000 $276,374
$1k-2k 142 $43,370,000 $305,423
$2k-3k 57 $14,125,000 $247,807

$9,763 of loans were Velocio Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $3k-4k bucket, with 1,349 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 1,657 $502,215,000 $303,087
2.5-3% 1,220 $396,070,000 $324,648
<2.5% 250 $65,900,000 $263,600
4-5% 42 $11,810,000 $281,190
5-6% 2 $650,000 $325,000

During 2021, Velocio Mortgage 's average interest rate of loans were 3.07%, while their most frequently originated rate bucket of loans were 3-4%, with 1,657 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 2,316 $666,900,000 $287,953 $9,703 3.10%
$400k-600k 545 $253,065,000 $464,339 $11,058 3.00%
$100k-200k 205 $35,295,000 $172,171 $6,944 3.20%
$100,000 or less 78 $1,720,000 $22,051 $469 0.53%
$600k-1MM 26 $18,390,000 $707,308 $13,108 2.97%
$1MM+ 1 $1,275,000 $1,275,000 $49,549 2.50%

2021 saw Velocio Mortgage place emphasis on $200k-400k loans with 2,316 originations, totaling $666,900,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 849 $287,585,000 $338,734 $10,011 3.05%
$50k-75k 817 $209,495,000 $256,420 $9,090 2.97%
$75k-100k 717 $213,115,000 $297,232 $9,572 3.03%
$150k-250k 486 $178,310,000 $366,893 $10,281 3.08%
$50k or less 153 $32,395,000 $211,732 $8,536 2.90%
$250k+ 147 $55,155,000 $375,204 $11,563 3.18%

Velocio Mortgage lent most frequently to those with incomes in the $100k-150k range, with 849 originations. The second most popular income band? $50k-75k, with 817 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 509 $167,725,000 $329,519 $9,453 2.99%
30-36% 493 $164,095,000 $332,850 $9,468 3.09%
50-60% 344 $97,820,000 $284,360 $10,900 3.03%
42% 142 $43,060,000 $303,239 $9,330 3.02%
40% 136 $40,900,000 $300,735 $8,998 3.03%
44% 135 $41,245,000 $305,519 $9,755 3.06%
49% 132 $38,540,000 $291,970 $10,406 3.00%
<20% 131 $39,715,000 $303,168 $9,098 2.99%
43% 126 $36,880,000 $292,698 $9,331 3.09%
38% 126 $40,500,000 $321,429 $9,869 3.00%
41% 123 $38,105,000 $309,797 $9,793 2.93%
47% 114 $33,540,000 $294,211 $9,715 3.11%
48% 111 $31,875,000 $287,162 $9,816 3.04%
37% 110 $33,030,000 $300,273 $9,500 2.98%
45% 107 $29,935,000 $279,766 $8,588 3.04%
36% 104 $32,390,000 $311,442 $10,020 3.15%
39% 101 $29,385,000 $290,941 $8,566 2.91%
46% 100 $28,570,000 $285,700 $9,189 2.97%
>60% 17 $6,315,000 $371,471 $11,302 2.84%

Velocio Mortgage lent most frequently to those with DTI ratios of 20-30%, with 509 originations. The next most common DTI ratio? 30-36%, with 493 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,490 $470,460,000 $315,745 $9,569 3.01%
Not provided 631 $182,725,000 $289,580 $9,349 3.04%
Asian 415 $130,745,000 $315,048 $9,897 3.08%
Black 337 $101,125,000 $300,074 $9,790 2.96%
American Indian 124 $35,500,000 $286,290 $10,755 3.06%
Asian Indian 89 $28,695,000 $322,416 $10,501 3.14%
Other Asian 35 $12,125,000 $346,429 $10,731 3.02%
Filipino 12 $4,070,000 $339,167 $8,847 2.90%
Chinese 14 $3,650,000 $260,714 $7,515 3.12%
Other Pacific Islander 8 $2,350,000 $293,750 $7,616 2.75%
Vietnamese 6 $1,860,000 $310,000 $8,907 3.40%
Korean 4 $1,280,000 $320,000 $13,058 2.94%
Native Hawaiian 4 $1,180,000 $295,000 $8,487 3.38%
Japanese 2 $880,000 $440,000 $10,897 3.06%

Approval Rates

Total approvals of all applications
94.69%

Velocio Mortgage has an average approval rate.

Pick Rate

Approvals leading to origination
73.66%

Velocio Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 3,171 $976,645,000 $307,993

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
3,171 $976,645,000 $307,993

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 44 $7,040,000 $160,000 $6,565 3.03%
40-60% 83 $19,805,000 $238,614 $7,712 2.86%
60-80% 708 $217,300,000 $306,921 $9,235 3.13%
80-100% 2,135 $685,545,000 $321,098 $10,051 3.10%
Over 100% 133 $46,015,000 $345,977 $11,759 3.01%
Under 20% 68 $940,000 $13,824 $117 0.13%