Velocio Mortgage Rates, Fees & Info

HOUSTON, TX

LEI: 549300OQMU3ID8QA6M46

Tax ID: 81-3467488

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

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Velocio Mortgage is a smaller mortgage company specializing in 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, Dallas, San Antonio, Houston, and Phoenix among others. We have data for 29 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 6.83% 12/4/22
    30 Year Conventional Refi 6.80% 12/4/22
    30 Year Cash-out Refi 7.20% 12/4/22
    30 Year FHA Purchase 7.91% 12/4/22
    30 Year FHA Refi 7.65% 12/4/22
    30 Year VA Purchase 6.66% 12/4/22
    30 Year VA Refi 6.43% 12/4/22
    30 Year USDA Purchase 6.58% 12/4/22
    30 Year USDA Refi 6.58% 12/4/22
    15 Year Conventional Purchase 6.04% 12/4/22
    15 Year Conventional Refi 6.15% 12/4/22
    15 Year Cash-out Refi 6.15% 12/4/22
    15 Year FHA Purchase 5.76% 12/4/22
    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.


    Originations

    3,171

    Origination Dollar Volume (All Markets)

    $976,645,000

    Relative Rate

    Velocio Mortgage's average 30 year fixed mortgage rate was 3.07%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    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 $9,763.

    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) 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.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Florida (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: 378
    AMOCO
    Similarity Rank: 405
    Barley Mortgage, LLC
    Similarity Rank: 552
    United Heritage Credit Union
    Similarity Rank: 636
    ARIZONA CENTRAL
    Similarity Rank: 1166
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 1320
    AERO Federal Credit Union
    Similarity Rank: 1428
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1512
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 1672

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Velocio Mortgage's most frequently originated type of loan was Conventional, with 2,063 originations. Their 2nd most popular type was FHA, with 734 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Velocio Mortgage's most frequently cited loan purpose was Home Purchase, with 3,099 originations. The 2nd most popular reason was 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 2021, Velocio Mortgage's most frequently cited loan duration was 30 Year, with 3,003 originations. The 2nd most popular length was 15 Year, with 124 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 957 $380,095,000 $397,173
    $4k-5k 811 $242,775,000 $299,353
    $3k-4k 538 $126,340,000 $234,833
    $<1k 393 $108,615,000 $276,374
    $1k-2k 142 $43,370,000 $305,423
    $2k-3k 57 $14,125,000 $247,807

    Velocio Mortgage's average total fees were $9,763, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 957 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 for loans was 3.07%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    93.90%

    Velocio Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.42%

    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%