Velocio Mortgage Rates, Fees & Info

HOUSTON, TX

LEI: 549300OQMU3ID8QA6M46

Tax ID: 81-3467488

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 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. They have a low ratio of USDA loans. Their top markets by origination volume include: Phoenix, Dallas, Austin, Houston, and San Antonio among others. We have data for 17 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 an average 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% 11/21/24
    30 Year Conventional Refi 6.55% 11/21/24
    30 Year Cash-out Refi 7.00% 11/21/24
    30 Year FHA Purchase 7.10% 11/21/24
    30 Year FHA Refi 6.27% 11/21/24
    30 Year VA Purchase 6.06% 11/21/24
    30 Year USDA Purchase 6.27% 11/21/24
    15 Year Conventional Purchase 5.89% 11/21/24
    15 Year VA Purchase 6.29% 11/21/24
    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

    2,090

    Origination Dollar Volume (All Markets)

    $505,360,000

    Awards

    VELOCIO MORTGAGE 30 Year Conventional Loans silver
    Show all (1) awards

    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) 434 $107,620,000 $247,972 $7,064 4.17%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 385 $95,485,000 $248,013 $7,946 3.59%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 499 $93,005,000 $186,383 $6,635 3.55%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 283 $69,675,000 $246,201 $8,636 4.07%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 245 $63,755,000 $260,224 $8,302 3.76%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 99 $34,015,000 $343,586 $8,760 4.13%
    RALEIGH-CARY, NC (FHA|USDA|VA) 58 $19,650,000 $338,793 $6,161 4.16%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 22 $5,680,000 $258,182 $6,199 4.18%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 18 $4,860,000 $270,000 $7,945 4.26%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 12 $3,370,000 $280,833 $8,220 4.36%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 12 $3,330,000 $277,500 $7,856 3.88%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 13 $3,285,000 $252,692 $6,688 3.93%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 6 $1,130,000 $188,333 $6,299 5.17%
    Del Rio, TX (FHA|USDA|VA) 1 $225,000 $225,000 $6,679 4.25%
    ROCKY MOUNT, NC (FHA|USDA|VA) 1 $135,000 $135,000 $5,185 4.88%
    Outside of Metro Areas 1 $135,000 $135,000 $2,972 4.00%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $5,000 $5,000 $0 0.00%
    Velocio Mortgage's top markets include Phoenix, Dallas, Austin, Houston, and San Antonio among others.

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

    Barley Mortgage, LLC
    Similarity Rank: 48
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 220
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 225
    McCoy Federal Credit Union
    Similarity Rank: 342
    DUKE UNIVERSITY FEDERAL CREDIT UNION
    Similarity Rank: 519
    MEMBERS CHOICE Credit Union
    Similarity Rank: 549
    SMART FINANCIAL CREDIT UNION
    Similarity Rank: 707
    SMART CHOICE MORTGAGE, A TEXAS LIMITED LIABILITY C
    Similarity Rank: 756
    Deer Valley Credit Union
    Similarity Rank: 820
    TEXAS BAY
    Similarity Rank: 888

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,286 $307,910,000 $239,432 $6,624 3.47%
    FHA 589 $133,305,000 $226,324 $9,754 4.59%
    VA 191 $58,895,000 $308,351 $6,607 4.13%
    USDA 24 $5,250,000 $218,750 $8,733 4.08%

    For 2019, Velocio Mortgage's most frequently originated type of loan was Conventional, with 1,286 originations. Their 2nd most popular type was FHA, with 589 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,064 $497,710,000 $241,139 $7,557 3.85%
    Refi 20 $6,260,000 $313,000 $6,153 3.72%
    Cash Out Refi 6 $1,390,000 $231,667 $7,210 4.60%

    For 2019, Velocio Mortgage's most frequently cited loan purpose was Home Purchase, with 2,064 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,976 $484,230,000 $245,056 $7,641 3.92%
    15 Year 69 $17,055,000 $247,174 $7,832 3.63%
    3 Year 28 $160,000 $5,714 $0 0.00%
    20 Year 12 $3,230,000 $269,167 $8,844 3.91%
    10 Year 4 $380,000 $95,000 $3,064 1.78%
    Other 1 $305,000 $305,000 $10,687 4.50%

    For 2019, Velocio Mortgage's most frequently cited loan duration was 30 Year, with 1,976 originations. The 2nd most popular length was 15 Year, with 69 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 454 $103,190,000 $227,291
    $<1k 443 $56,835,000 $128,296
    $5k+ 372 $137,920,000 $370,753
    $4k-5k 354 $105,390,000 $297,712
    $1k-2k 331 $77,045,000 $232,764
    $2k-3k 105 $18,555,000 $176,714

    Velocio Mortgage's average total fees were $7,641, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 454 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 907 $240,455,000 $265,110
    3-4% 686 $204,370,000 $297,915
    5-6% 245 $54,645,000 $223,041
    <2.5% 238 $1,360,000 $5,714
    2.5-3% 14 $4,530,000 $323,571

    During 2019, Velocio Mortgage's average interest rate for loans was 3.92%, while their most frequently originated rate bucket for loans was 4-5%, with 907 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,348 $365,350,000 $271,031 $8,619 4.34%
    $100k-200k 303 $52,075,000 $171,865 $6,705 4.55%
    $100,000 or less 254 $2,620,000 $10,315 $263 0.27%
    $400k-600k 180 $82,060,000 $455,889 $10,898 4.05%
    $600k-1MM 5 $3,255,000 $651,000 $15,762 3.93%

    2019 saw Velocio Mortgage place emphasis on $200k-400k loans with 1,348 originations, totaling $365,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 635 $108,615,000 $171,047 $6,000 3.50%
    $75k-100k 436 $101,770,000 $233,417 $7,708 3.91%
    $100k-150k 408 $129,270,000 $316,838 $9,212 4.17%
    $50k or less 349 $75,445,000 $216,175 $6,887 3.82%
    $150k-250k 218 $75,100,000 $344,495 $9,340 4.12%
    $250k+ 44 $15,160,000 $344,545 $9,736 4.22%

    Velocio Mortgage lent most frequently to those with incomes in the $50k-75k range, with 635 originations. The second most popular income band? $75k-100k, with 436 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 447 $78,235,000 $175,022 $6,784 3.41%
    30-36% 269 $74,405,000 $276,599 $8,238 3.98%
    20-30% 224 $62,310,000 $278,170 $8,182 3.97%
    44% 95 $23,145,000 $243,632 $7,114 3.89%
    43% 94 $23,680,000 $251,915 $7,528 3.82%
    45% 85 $19,435,000 $228,647 $6,957 3.74%
    48% 81 $20,165,000 $248,951 $7,419 3.98%
    42% 81 $23,715,000 $292,778 $8,726 4.20%
    47% 78 $18,610,000 $238,590 $7,395 4.07%
    46% 76 $18,140,000 $238,684 $7,494 3.94%
    38% 75 $20,415,000 $272,200 $7,835 4.02%
    41% 73 $18,465,000 $252,945 $7,572 4.07%
    36% 73 $19,095,000 $261,575 $7,994 4.06%
    49% 73 $16,605,000 $227,466 $7,169 3.87%
    39% 67 $15,495,000 $231,269 $7,499 3.94%
    40% 64 $16,470,000 $257,344 $8,012 4.02%
    <20% 59 $15,635,000 $265,000 $7,365 4.02%
    37% 58 $15,610,000 $269,138 $7,908 3.97%
    >60% 17 $5,725,000 $336,765 $6,365 4.16%

    Velocio Mortgage lent most frequently to those with DTI ratios of 50-60%, with 447 originations. The next most common DTI ratio? 30-36%, with 269 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,199 $299,385,000 $249,696 $7,564 3.94%
    Not provided 289 $66,375,000 $229,671 $7,495 3.74%
    Black 264 $56,150,000 $212,689 $7,149 3.66%
    Asian 138 $39,670,000 $287,464 $8,784 3.91%
    American Indian 112 $21,560,000 $192,500 $6,446 3.57%
    Asian Indian 21 $6,685,000 $318,333 $9,325 4.26%
    Filipino 14 $3,450,000 $246,429 $8,289 4.05%
    Other Asian 19 $3,295,000 $173,421 $6,952 3.11%
    Chinese 8 $2,660,000 $332,500 $10,177 3.63%
    Other Pacific Islander 13 $2,425,000 $186,538 $6,655 3.95%
    Korean 5 $1,705,000 $341,000 $10,502 3.93%
    Native Hawaiian or Islander 3 $675,000 $225,000 $10,280 4.54%
    Vietnamese 2 $600,000 $300,000 $5,459 3.87%
    Japanese 2 $490,000 $245,000 $7,377 3.75%
    Samoan 1 $235,000 $235,000 $4,120 5.63%

    Approval Rates

    Total approvals of all applications
    95.92%

    Velocio Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    73.92%

    Velocio Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,090 $505,360,000 $241,799

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $125,000 $125,000
    Single Family (1-4 Units):Site-Built 2,089 $505,235,000 $241,855

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 41 $5,185,000 $126,463 $5,324 4.17%
    40-60% 78 $18,230,000 $233,718 $7,243 3.97%
    60-80% 310 $94,820,000 $305,871 $8,574 4.13%
    80-100% 1,350 $364,840,000 $270,252 $8,588 4.43%
    Over 100% 71 $20,715,000 $291,761 $10,459 4.14%
    Under 20% 240 $1,570,000 $6,542 $46 0.04%