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, Austin, Dallas, Houston, and San Antonio among others. We have data for 22 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% 12/2/24
    30 Year Conventional Refi 6.55% 12/2/24
    30 Year Cash-out Refi 7.00% 12/2/24
    30 Year FHA Purchase 7.10% 12/2/24
    30 Year FHA Refi 6.27% 12/2/24
    30 Year VA Purchase 6.06% 12/2/24
    30 Year USDA Purchase 6.27% 12/2/24
    15 Year Conventional Purchase 5.89% 12/2/24
    15 Year VA Purchase 6.29% 12/2/24
    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

    2,855

    Origination Dollar Volume (All Markets)

    $784,365,000

    Awards

    VELOCIO MORTGAGE 30 Year Conventional Loans silver VELOCIO MORTGAGE 30 Year Conventional Loans bronze
    Show all (2) 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) 518 $158,090,000 $305,193 $8,238 3.19%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 625 $143,805,000 $230,088 $7,976 2.87%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 501 $135,335,000 $270,130 $8,798 2.97%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 441 $107,885,000 $244,637 $8,687 2.98%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 349 $97,445,000 $279,212 $8,242 2.91%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 154 $44,770,000 $290,714 $8,135 3.26%
    RALEIGH-CARY, NC (FHA|USDA|VA) 84 $37,110,000 $441,786 $8,598 3.04%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 98 $36,100,000 $368,367 $8,554 3.33%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 32 $8,290,000 $259,063 $6,787 3.47%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 12 $4,900,000 $408,333 $8,304 3.11%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 14 $3,740,000 $267,143 $9,677 3.03%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 13 $3,695,000 $284,231 $8,153 3.27%
    Outside of Metro Areas 4 $910,000 $227,500 $6,392 3.72%
    Marion, NC (FHA|USDA|VA) 1 $445,000 $445,000 $8,655 2.75%
    LUBBOCK, TX (FHA|USDA|VA) 2 $440,000 $220,000 $2,320 3.19%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $315,000 $315,000 $5,738 3.25%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $295,000 $295,000 $6,899 2.88%
    LAREDO, TX (FHA|USDA|VA) 1 $235,000 $235,000 $5,580 2.63%
    El Campo, TX (FHA|USDA|VA) 1 $185,000 $185,000 $5,635 2.50%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $165,000 $165,000 $3,721 4.25%
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $145,000 $145,000 $3,072 2.50%
    WACO, TX (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.13%
    Velocio Mortgage's top markets include Phoenix, Austin, Dallas, 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.

    FAIR WAY LENDING LLC
    Similarity Rank: 385
    Barley Mortgage, LLC
    Similarity Rank: 441
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 825
    THE MONEY HOUSE INC.
    Similarity Rank: 946
    First Credit Union
    Similarity Rank: 1034
    TRI-EMERALD FINANCIAL GROUP, INC.
    Similarity Rank: 1054
    ARIZONA CENTRAL
    Similarity Rank: 1056
    Armed Forces Bank
    Similarity Rank: 1136
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 1170
    ALTITUDE FINANCIAL CORPORATION
    Similarity Rank: 1218

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,763 $490,545,000 $278,244 $7,472 2.89%
    FHA 709 $174,545,000 $246,185 $11,301 3.32%
    VA 330 $107,340,000 $325,273 $6,287 3.06%
    USDA 53 $11,935,000 $225,189 $9,325 3.20%

    For 2020, Velocio Mortgage's most frequently originated type of loan was Conventional, with 1,763 originations. Their 2nd most popular type was FHA, with 709 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,762 $755,960,000 $273,700 $8,397 3.03%
    Refi 85 $25,925,000 $305,000 $6,721 2.93%
    Cash Out Refi 8 $2,480,000 $310,000 $7,263 3.59%

    For 2020, Velocio Mortgage's most frequently cited loan purpose was Home Purchase, with 2,762 originations. The 2nd most popular reason was Refi, with 85 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,725 $754,615,000 $276,923 $8,432 3.05%
    15 Year 95 $24,755,000 $260,579 $7,607 2.81%
    3 Year 18 $180,000 $10,000 $0 0.00%
    20 Year 11 $3,295,000 $299,545 $8,594 3.10%
    Other 4 $1,290,000 $322,500 $5,219 2.81%
    10 Year 2 $230,000 $115,000 $4,812 3.25%

    For 2020, Velocio Mortgage's most frequently cited loan duration was 30 Year, with 2,725 originations. The 2nd most popular length was 15 Year, with 95 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $4k-5k 710 $210,730,000 $296,803
    $5k+ 647 $251,075,000 $388,060
    $3k-4k 585 $131,525,000 $224,829
    $<1k 483 $95,625,000 $197,981
    $1k-2k 234 $55,940,000 $239,060
    $2k-3k 111 $22,445,000 $202,207

    Velocio Mortgage's average total fees were $8,432, while their most frequently occuring range of origination fees (closing costs) were in the $4k-5k bucket, with 710 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,339 $387,615,000 $289,481
    2.5-3% 1,011 $301,715,000 $298,432
    <2.5% 330 $54,130,000 $164,030
    4-5% 156 $36,510,000 $234,038
    5-6% 18 $4,390,000 $243,889

    During 2020, Velocio Mortgage's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 3-4%, with 1,339 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,957 $549,215,000 $280,641 $8,983 3.21%
    $400k-600k 364 $167,580,000 $460,385 $10,096 3.09%
    $100k-200k 327 $56,775,000 $173,624 $7,087 3.37%
    $100,000 or less 195 $2,695,000 $13,821 $457 0.41%
    $600k-1MM 12 $8,100,000 $675,000 $9,007 2.91%

    2020 saw Velocio Mortgage place emphasis on $200k-400k loans with 1,957 originations, totaling $549,215,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 842 $182,800,000 $217,102 $7,506 2.85%
    $100k-150k 704 $227,990,000 $323,849 $9,324 3.19%
    $75k-100k 565 $153,305,000 $271,336 $8,648 3.06%
    $150k-250k 402 $142,210,000 $353,756 $9,281 3.16%
    $50k or less 246 $44,150,000 $179,472 $6,064 2.76%
    $250k+ 96 $33,910,000 $353,229 $9,339 3.29%

    Velocio Mortgage lent most frequently to those with incomes in the $50k-75k range, with 842 originations. The second most popular income band? $100k-150k, with 704 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 427 $127,625,000 $298,888 $8,339 3.10%
    20-30% 419 $131,145,000 $312,995 $8,671 3.11%
    50-60% 408 $96,290,000 $236,005 $9,040 2.94%
    44% 163 $41,085,000 $252,055 $7,889 2.96%
    <20% 127 $37,445,000 $294,843 $7,698 3.09%
    42% 123 $33,305,000 $270,772 $8,311 2.96%
    43% 121 $32,875,000 $271,694 $7,967 2.99%
    49% 118 $30,100,000 $255,085 $8,168 2.95%
    45% 116 $26,080,000 $224,828 $7,325 2.78%
    39% 111 $30,525,000 $275,000 $8,412 3.13%
    41% 100 $27,770,000 $277,700 $7,753 3.11%
    40% 99 $29,335,000 $296,313 $8,658 3.05%
    37% 99 $27,355,000 $276,313 $8,772 3.04%
    46% 93 $24,125,000 $259,409 $8,347 2.93%
    48% 82 $22,760,000 $277,561 $8,236 2.98%
    38% 80 $22,230,000 $277,875 $8,133 3.08%
    47% 80 $19,550,000 $244,375 $7,631 3.06%
    36% 70 $19,190,000 $274,143 $8,708 3.00%
    >60% 10 $3,200,000 $320,000 $6,578 3.39%

    Velocio Mortgage lent most frequently to those with DTI ratios of 30-36%, with 427 originations. The next most common DTI ratio? 20-30%, with 419 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,564 $439,880,000 $281,253 $8,335 3.05%
    Not provided 440 $112,370,000 $255,386 $8,018 2.90%
    Black 332 $88,220,000 $265,723 $8,442 3.00%
    Asian 216 $64,480,000 $298,519 $8,782 3.14%
    American Indian 163 $36,605,000 $224,571 $8,014 2.87%
    Asian Indian 61 $20,715,000 $339,590 $9,779 3.10%
    Other Asian 28 $7,350,000 $262,500 $9,318 3.09%
    Filipino 11 $3,195,000 $290,455 $7,739 3.15%
    Vietnamese 9 $2,725,000 $302,778 $8,521 3.21%
    Other Pacific Islander 10 $2,600,000 $260,000 $9,255 2.76%
    Korean 7 $1,925,000 $275,000 $9,070 3.80%
    Native Hawaiian or Islander 6 $1,870,000 $311,667 $7,496 3.52%
    Chinese 5 $1,765,000 $353,000 $9,384 3.13%
    Japanese 2 $360,000 $180,000 $6,386 3.13%
    Samoan 1 $305,000 $305,000 $8,803 3.75%

    Approval Rates

    Total approvals of all applications
    94.70%

    Velocio Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.73%

    Velocio Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,855 $784,365,000 $274,734

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 2,855 $784,365,000 $274,734

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 40 $5,300,000 $132,500 $5,226 3.18%
    40-60% 89 $20,045,000 $225,225 $6,682 3.08%
    60-80% 489 $151,235,000 $309,274 $8,273 3.16%
    80-100% 1,943 $570,695,000 $293,718 $9,121 3.24%
    Over 100% 114 $35,540,000 $311,754 $10,717 3.12%
    Under 20% 180 $1,550,000 $8,611 $188 0.13%