V.i.p. Mortgage Rates, Fees & Info

SCOTTSDALE, AZ

LEI: 549300PC4MFWQBNVKG88

Tax ID: 42-1720343

2020 Data | 2019 Data | 2018 Data


Overview

V.i.p. Mortgage is a mid-sized mortgage company specializing in Refi and Home Purchase loans. V.i.p. 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 include Phoenix, Tucson, Denver, Colorado Springs, and San Antonio among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. V.i.p. Mortgage is typically an average fee lendor.


Originations

16,417

Origination Dollar Volume (All Markets)

$4,930,555,000

Relative Rate

V.i.p. Mortgage 's average 30 year fixed rate mortgage was 3.21%.

The 2020 average 30 year fixed rate mortgage across all markets was 3.36%.

This yields a difference of -0.15%.

Relative Fees

V.i.p. Mortgage 's average total fees for a 30 year fixed rate mortgage are $4,801.

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 $5,021.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 13,198 $4,011,650,000 $303,959 $4,021 3.18%
FHA 1,650 $409,600,000 $248,242 $9,203 3.33%
VA 1,499 $493,535,000 $329,243 $5,564 2.86%
USDA 70 $15,770,000 $225,286 $6,485 3.23%

For the 2020 period, V.i.p. Mortgage 's most frequently originated loan type was Conventional, with 13,198 originations. Their 2nd most popular type is FHA, with 1,650 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 7,570 $2,234,960,000 $295,239 $3,365 3.06%
Home Purchase 6,463 $2,022,635,000 $312,956 $6,336 3.25%
Cash Out Refi 2,374 $670,340,000 $282,367 $4,029 3.31%
Other 10 $2,620,000 $262,000 $0 2.93%

For the 2020, V.i.p. Mortgage 's most frequently cited loan purpose was Refi, with 7,570 originations. The 2nd most popular reason was Home Purchase, with 6,463 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 14,574 $4,461,050,000 $306,096 $4,802 3.21%
15 Year 1,112 $283,240,000 $254,712 $3,214 2.75%
Other 340 $87,750,000 $258,088 $2,897 3.01%
20 Year 318 $82,180,000 $258,428 $3,133 3.10%
10 Year 72 $16,020,000 $222,500 $3,094 2.58%
30+ year 1 $315,000 $315,000 $4,002 4.50%

For the 2020, V.i.p. Mortgage 's most frequently cited loan length was 30 Year, with 14,574 originations. The 2nd most popular length was 15 Year, with 1,112 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 11,572 $3,427,820,000 $296,217
$3k-4k 1,639 $475,385,000 $290,046
$2k-3k 1,445 $408,115,000 $282,433
$<1k 990 $313,240,000 $316,404
$5k+ 571 $258,435,000 $452,601

$4,801 was V.i.p. Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 11,572 originations.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PHOENIX-MESA-CHANDLER, AZ 8,474 $2,500,160,000 $295,039 $4,770 3.22%
TUCSON, AZ 2,990 $738,770,000 $247,080 $3,749 3.12%
DENVER-AURORA-LAKEWOOD, CO 1,540 $577,340,000 $374,896 $4,562 3.11%
Outside of Metro Areas 835 $277,745,000 $332,629 $5,422 3.13%
COLORADO SPRINGS, CO 499 $162,975,000 $326,603 $4,286 3.10%
SAN ANTONIO-NEW BRAUNFELS, TX 337 $100,305,000 $297,641 $6,628 2.97%
DALLAS-PLANO-IRVING, TX 242 $75,230,000 $310,868 $5,954 3.15%
SEATTLE-BELLEVUE-KENT, WA 123 $56,255,000 $457,358 $3,786 3.03%
FORT WORTH-ARLINGTON-GRAPEVINE, TX 194 $48,660,000 $250,825 $5,522 3.21%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 74 $34,780,000 $470,000 $4,787 3.00%
PRESCOTT VALLEY-PRESCOTT, AZ 112 $33,370,000 $297,946 $4,474 3.12%
FLAGSTAFF, AZ 83 $27,085,000 $326,325 $4,305 3.10%
FORT WAYNE, IN 120 $24,570,000 $204,750 $4,320 3.15%
INDIANAPOLIS-CARMEL-ANDERSON, IN 77 $23,595,000 $306,429 $3,876 3.22%
LOS ANGELES-LONG BEACH-GLENDALE, CA 36 $19,420,000 $539,444 $5,018 3.16%
GREELEY, CO 56 $19,210,000 $343,036 $4,439 3.00%
CHICAGO-NAPERVILLE-EVANSTON, IL 31 $13,775,000 $444,355 $4,303 3.38%
ANAHEIM-SANTA ANA-IRVINE, CA 25 $11,515,000 $460,600 $4,539 3.06%
BOULDER, CO 22 $9,080,000 $412,727 $4,062 3.02%
FORT COLLINS, CO 26 $8,870,000 $341,154 $4,873 3.13%
SACRAMENTO-ROSEVILLE-FOLSOM, CA 22 $8,500,000 $386,364 $3,989 3.32%
SANTA ROSA-PETALUMA, CA 17 $7,825,000 $460,294 $4,023 3.32%
OAKLAND-BERKELEY-LIVERMORE, CA 12 $7,800,000 $650,000 $5,792 3.21%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 20 $7,660,000 $383,000 $6,453 3.37%
URBAN HONOLULU, HI 15 $6,895,000 $459,667 $9,076 3.18%
SIERRA VISTA-DOUGLAS, AZ 39 $6,875,000 $176,282 $3,775 3.23%
AUSTIN-ROUND ROCK-GEORGETOWN, TX 21 $6,375,000 $303,571 $5,475 2.99%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 16 $5,720,000 $357,500 $4,512 3.09%
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 7 $5,625,000 $803,571 $5,327 3.06%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 22 $4,930,000 $224,091 $5,468 2.96%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 20 $4,670,000 $233,500 $4,700 3.40%
ALBUQUERQUE, NM 15 $4,455,000 $297,000 $4,720 3.19%
LAKE HAVASU CITY-KINGMAN, AZ 21 $4,315,000 $205,476 $4,322 3.26%
ELKHART-GOSHEN, IN 17 $3,895,000 $229,118 $5,934 3.03%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 7 $3,835,000 $547,857 $4,909 3.11%
TACOMA-LAKEWOOD, WA 9 $3,765,000 $418,333 $6,791 2.89%
RALEIGH-CARY, NC 12 $3,280,000 $273,333 $4,555 3.42%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 12 $3,120,000 $260,000 $2,937 2.98%
KAHULUI-WAILUKU-LAHAINA, HI 6 $3,020,000 $503,333 $10,017 3.77%
SAN RAFAEL, CA 2 $2,190,000 $1,095,000 $10,279 3.06%
PROVO-OREM, UT 5 $2,045,000 $409,000 $5,432 3.37%
LAS CRUCES, NM 7 $1,835,000 $262,143 $3,886 3.15%
BAKERSFIELD, CA 5 $1,825,000 $365,000 $4,584 2.78%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 7 $1,815,000 $259,286 $4,391 3.43%
SANTA MARIA-SANTA BARBARA, CA 3 $1,735,000 $578,333 $3,236 3.12%
CAPE CORAL-FORT MYERS, FL 9 $1,655,000 $183,889 $4,538 3.43%
SOUTH BEND-MISHAWAKA, IN-MI 6 $1,580,000 $263,333 $6,511 3.75%
OXNARD-THOUSAND OAKS-VENTURA, CA 4 $1,540,000 $385,000 $4,111 3.15%
MILWAUKEE-WAUKESHA, WI 6 $1,480,000 $246,667 $3,434 3.20%
BELLINGHAM, WA 2 $1,400,000 $700,000 $12,612 3.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL 5 $1,395,000 $279,000 $4,198 2.65%
GRAND JUNCTION, CO 4 $1,390,000 $347,500 $3,282 3.03%
BLOOMINGTON, IL 5 $1,355,000 $271,000 $3,187 2.88%
LAKE COUNTY-KENOSHA COUNTY, IL-WI 2 $1,340,000 $670,000 $5,704 2.94%
YUMA, AZ 5 $1,255,000 $251,000 $3,587 2.78%
MADISON, WI 5 $1,255,000 $251,000 $5,274 2.76%
OGDEN-CLEARFIELD, UT 3 $1,175,000 $391,667 $5,019 3.00%
SAN LUIS OBISPO-PASO ROBLES, CA 3 $1,145,000 $381,667 $3,814 3.00%
YAKIMA, WA 3 $1,105,000 $368,333 $3,087 2.58%
CHAMPAIGN-URBANA, IL 3 $1,075,000 $358,333 $3,689 3.29%
VALLEJO, CA 2 $1,060,000 $530,000 $4,421 3.00%
JACKSONVILLE, FL 2 $1,050,000 $525,000 $7,081 3.13%
NAPLES-MARCO ISLAND, FL 1 $995,000 $995,000 $8,520 3.50%
WENATCHEE, WA 3 $995,000 $331,667 $3,434 3.29%
ELGIN, IL 4 $920,000 $230,000 $3,504 3.00%
ORLANDO-KISSIMMEE-SANFORD, FL 3 $875,000 $291,667 $4,534 3.21%
LUBBOCK, TX 2 $870,000 $435,000 $4,924 2.94%
BEAUMONT-PORT ARTHUR, TX 3 $855,000 $285,000 $3,294 3.67%
KANKAKEE, IL 3 $845,000 $281,667 $2,888 3.17%
SALT LAKE CITY, UT 2 $830,000 $415,000 $6,795 2.88%
MIAMI-MIAMI BEACH-KENDALL, FL 1 $785,000 $785,000 $16,708 3.25%
PUEBLO, CO 4 $780,000 $195,000 $3,186 3.56%
ST. GEORGE, UT 3 $755,000 $251,667 $5,028 3.08%
CORPUS CHRISTI, TX 3 $755,000 $251,667 $6,480 2.71%
BOISE CITY, ID 2 $720,000 $360,000 $6,216 2.63%
WINSTON-SALEM, NC 1 $695,000 $695,000 $4,296 3.25%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 2 $670,000 $335,000 $8,883 2.75%
COEUR D'ALENE, ID 2 $650,000 $325,000 $4,256 2.63%
DURHAM-CHAPEL HILL, NC 1 $625,000 $625,000 $6,061 3.25%
PALM BAY-MELBOURNE-TITUSVILLE, FL 2 $600,000 $300,000 $4,543 3.18%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 3 $595,000 $198,333 $2,634 2.83%
SANTA CRUZ-WATSONVILLE, CA 1 $585,000 $585,000 $3,123 2.88%
KOKOMO, IN 3 $525,000 $175,000 $2,402 3.21%
COLLEGE STATION-BRYAN, TX 2 $520,000 $260,000 $5,422 3.31%
SPOKANE-SPOKANE VALLEY, WA 2 $520,000 $260,000 $3,210 2.69%
KNOXVILLE, TN 1 $515,000 $515,000 $4,821 2.75%
KALAMAZOO-PORTAGE, MI 1 $515,000 $515,000 $4,064 3.38%
NAPA, CA 1 $495,000 $495,000 $8,987 3.50%
STOCKTON, CA 1 $485,000 $485,000 $4,214 3.50%
LAKELAND-WINTER HAVEN, FL 2 $480,000 $240,000 $6,302 3.38%
EUGENE-SPRINGFIELD, OR 1 $465,000 $465,000 $68 2.25%
GARY, IN 2 $460,000 $230,000 $2,672 3.12%
BREMERTON-SILVERDALE-PORT ORCHARD, WA 1 $445,000 $445,000 $5,480 4.13%
JANESVILLE-BELOIT, WI 2 $440,000 $220,000 $5,342 2.81%
CORVALLIS, OR 1 $425,000 $425,000 $8,107 3.99%
EL CENTRO, CA 1 $425,000 $425,000 $2,931 2.75%
LOGAN, UT-ID 1 $415,000 $415,000 $3,044 2.88%
DES MOINES-WEST DES MOINES, IA 1 $415,000 $415,000 $1,520 2.88%
SANTA FE, NM 1 $395,000 $395,000 $3,129 3.13%
OLYMPIA-LACEY-TUMWATER, WA 1 $385,000 $385,000 $2,955 2.63%
MCALLEN-EDINBURG-MISSION, TX 3 $365,000 $121,667 $5,548 3.73%
COLUMBUS, OH 2 $360,000 $180,000 $3,411 2.81%
OMAHA-COUNCIL BLUFFS, NE-IA 2 $340,000 $170,000 $2,769 2.75%
FAYETTEVILLE, NC 1 $325,000 $325,000 $4,059 3.13%
OCALA, FL 2 $320,000 $160,000 $5,050 3.13%
REDDING, CA 1 $315,000 $315,000 $3,374 2.75%
MEDFORD, OR 1 $315,000 $315,000 $4,587 2.50%
SAVANNAH, GA 1 $305,000 $305,000 $4,014 3.00%
BEND, OR 1 $275,000 $275,000 $4,405 3.25%
SHERMAN-DENISON, TX 1 $275,000 $275,000 $4,392 2.75%
BURLINGTON, NC 1 $255,000 $255,000 $3,741 3.50%
YUBA CITY, CA 1 $255,000 $255,000 $5,918 3.50%
GRANTS PASS, OR 1 $255,000 $255,000 $4,451 3.75%
MADERA, CA 1 $245,000 $245,000 $2,668 2.63%
BROWNSVILLE-HARLINGEN, TX 1 $245,000 $245,000 $11,644 2.25%
GREEN BAY, WI 1 $235,000 $235,000 $3,128 3.25%
MUNCIE, IN 1 $215,000 $215,000 $2,116 2.88%
PORT ST. LUCIE, FL 1 $215,000 $215,000 $9,098 2.88%
AMARILLO, TX 1 $205,000 $205,000 $3,556 2.46%
CHARLOTTE-CONCORD-GASTONIA, NC-SC 1 $205,000 $205,000 $2,478 3.88%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 1 $205,000 $205,000 $4,457 2.50%
WICHITA FALLS, TX 1 $195,000 $195,000 $0 3.63%
PUNTA GORDA, FL 1 $195,000 $195,000 $6,132 4.13%
EL PASO, TX 1 $185,000 $185,000 $3,950 2.75%
LANSING-EAST LANSING, MI 1 $185,000 $185,000 $3,129 2.75%
GAINESVILLE, GA 1 $175,000 $175,000 $3,878 3.25%
MODESTO, CA 1 $175,000 $175,000 $2,538 2.75%
FRESNO, CA 1 $165,000 $165,000 $3,173 3.38%
BLOOMINGTON, IN 1 $165,000 $165,000 $2,558 2.75%
THE VILLAGES, FL 1 $165,000 $165,000 $3,496 2.99%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 1 $155,000 $155,000 $5,982 3.25%
ST. CLOUD, MN 1 $155,000 $155,000 $2,570 3.38%
CHICO, CA 1 $135,000 $135,000 $6,422 4.63%
WARREN-TROY-FARMINGTON HILLS, MI 1 $125,000 $125,000 $3,937 2.50%
KINGSPORT-BRISTOL, TN-VA 1 $85,000 $85,000 $3,248 3.37%
ROCKFORD, IL 1 $85,000 $85,000 $3,531 2.99%
MEMPHIS, TN-MS-AR 1 $55,000 $55,000 $3,672 3.75%
ST. LOUIS, MO-IL 1 $55,000 $55,000 $3,450 4.25%

V.i.p. Mortgage 's top markets include Phoenix, Tucson, Denver, Colorado Springs, and San Antonio among others.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 7,140 $2,089,580,000 $292,658
2.5-3% 7,002 $2,187,720,000 $312,442
<2.5% 1,294 $398,430,000 $307,906
4-5% 913 $235,975,000 $258,461
5-6% 68 $18,850,000 $277,206

During 2020, V.i.p. Mortgage 's average interest rate was 3.21%, while their most frequently originated rate bucket was 3-4%, with 7,140 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 9,357 $2,671,205,000 $285,477 $4,796 3.17%
$100k-200k 3,531 $563,155,000 $159,489 $3,644 3.24%
$400k-600k 2,792 $1,314,620,000 $470,852 $4,971 3.07%
$600k-1MM 383 $278,875,000 $728,133 $7,257 3.18%
$100,000 or less 289 $23,625,000 $81,747 $3,145 3.31%
$1MM+ 65 $79,075,000 $1,216,538 $9,636 3.16%

2020 saw V.i.p. Mortgage place emphasis on $200k-400k loans with 9,357 originations, totaling $2,671,205,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 3,607 $1,172,085,000 $324,947 $4,560 3.16%
$50k-75k 3,469 $831,345,000 $239,650 $4,869 3.23%
$75k-100k 2,923 $827,485,000 $283,094 $4,763 3.21%
$50k or less 2,635 $573,465,000 $217,634 $4,291 3.09%
$150k-250k 2,553 $985,435,000 $385,991 $4,555 3.15%
$250k+ 992 $465,660,000 $469,415 $4,968 3.18%

V.i.p. Mortgage lent most frequently to those with incomes in the $100k-150k range, with 3,607 originations. The second most popular income band? $50k-75k, with 3,469 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 3,740 $1,137,130,000 $304,045 $4,113 3.11%
30-36% 2,795 $860,435,000 $307,848 $4,523 3.20%
<20% 1,605 $470,855,000 $293,368 $3,567 3.04%
44% 713 $203,805,000 $285,842 $5,512 3.34%
43% 603 $173,675,000 $288,018 $5,164 3.31%
41% 565 $169,575,000 $300,133 $4,968 3.31%
42% 559 $162,365,000 $290,456 $5,103 3.32%
39% 540 $168,600,000 $312,222 $4,849 3.25%
37% 529 $163,845,000 $309,726 $4,878 3.22%
36% 512 $157,440,000 $307,500 $4,828 3.23%
40% 506 $155,680,000 $307,668 $5,005 3.26%
38% 506 $157,350,000 $310,968 $4,940 3.22%
49% 437 $130,625,000 $298,913 $5,322 3.27%
50-60% 426 $120,990,000 $284,014 $8,490 3.22%
45% 369 $107,435,000 $291,152 $5,356 3.20%
47% 369 $107,215,000 $290,556 $5,293 3.27%
46% 342 $100,200,000 $292,982 $5,367 3.25%
48% 314 $94,410,000 $300,669 $5,446 3.21%
>60% 22 $7,010,000 $318,636 $6,495 3.40%

V.i.p. Mortgage lent most frequently to those with DTI ratios of 20-30%, with 3,740 originations. The next most common DTI ratio? 30-36%, with 2,795 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 14,378 $4,305,360,000 $299,441 $4,537 3.16%
Not provided 931 $280,435,000 $301,219 $5,240 3.20%
Asian 550 $181,490,000 $329,982 $5,041 3.21%
Black 403 $117,445,000 $291,427 $5,589 3.23%
American Indian 86 $23,540,000 $273,721 $5,718 3.12%
Native Hawaiian 69 $22,285,000 $322,971 $5,998 3.20%

Approval Rates

Total approvals of all applications
95.30%

V.i.p. 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
87.24%

V.i.p. Mortgage has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 16,417 $4,930,555,000 $300,332

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Manufactured 114 $21,000,000 $184,211
Single Family (1-4 Units):Site-Built 16,303 $4,909,555,000 $301,144

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 564 $117,960,000 $209,149 $3,333 2.96%
40-60% 2,501 $674,565,000 $269,718 $3,342 3.01%
60-80% 6,104 $1,928,430,000 $315,929 $3,922 3.21%
80-100% 6,530 $1,997,280,000 $305,862 $5,721 3.23%
Over 100% 283 $96,525,000 $341,078 $11,124 2.94%
Under 20% 31 $5,585,000 $180,161 $3,618 2.95%