Veritex Community Bank Mortgage Rates, Fees & Info

Dallas, TX

LEI: 549300Q2EZNO3H86ED06

Tax ID: 76-0752296

3.2 stars - Updated: 12/4/24 - out of 5 stars, based on 14 reviews

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

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Mortgage Data

Review & Overview

Veritex Community Bank is a smaller bank specializing in Home Purchase loans. Veritex Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Houston, Athens, Nashville, and Austin among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)

Veritex Community Bank 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. Veritex Community Bank 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 relatively high 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
Home Equity Line of Credit (HELOC) 6.27% 12/4/24
30 Year Conventional Purchase 6.24% 12/4/24
30 Year Conventional Refi 5.95% 12/4/24
30 Year Cash-out Refi 6.15% 12/4/24
15 Year Conventional Purchase 5.73% 12/4/24
15 Year Conventional Refi 5.42% 12/4/24
15 Year Cash-out Refi 5.42% 12/4/24
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.

Veritex Community Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Veritex Community Bank. 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

210

Origination Dollar Volume (All Markets)

$172,800,000

Awards

Veritex Community Bank 30 Year Conventional Loans silver Veritex Community Bank 30 Year Conventional Loans silver Veritex Community Bank 30 Year Conventional Loans silver
Show all (3) awards

Relative Rate

Veritex Community Bank's average 30 year fixed mortgage rate was 6.18%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.3%.

Relative Fees (Closing Costs)

Veritex Community Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $11,850.

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 $9,089.

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
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 120 $97,460,000 $812,167 $14,842 6.53%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 34 $32,190,000 $946,765 $17,158 6.67%
Athens, TX (FHA|USDA|VA) 5 $6,455,000 $1,291,000 $23,977 5.95%
Outside of Metro Areas 8 $5,430,000 $678,750 $13,943 6.28%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 3 $5,165,000 $1,721,667 $21,254 6.08%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $3,385,000 $1,128,333 $12,076 6.73%
Edwards, CO (FHA|USDA|VA) 1 $2,345,000 $2,345,000 $0 6.50%
Brenham, TX (FHA|USDA|VA) 1 $2,205,000 $2,205,000 $32,183 5.38%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,855,000 $1,855,000 $28,566 6.00%
SHERMAN-DENISON, TX (FHA|USDA|VA) 4 $1,490,000 $372,500 $8,919 6.00%
Mineral Wells, TX (FHA|USDA|VA) 1 $1,415,000 $1,415,000 $23,998 6.13%
ODESSA, TX (FHA|USDA|VA) 1 $1,255,000 $1,255,000 $0 7.15%
PANAMA CITY, FL (FHA|USDA|VA) 1 $1,195,000 $1,195,000 $16,389 6.00%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $1,035,000 $1,035,000 $22,675 6.63%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $1,025,000 $1,025,000 $0 7.95%
CORPUS CHRISTI, TX (FHA|USDA|VA) 3 $895,000 $298,333 $6,499 6.17%
Sevierville, TN (FHA|USDA|VA) 1 $895,000 $895,000 $0 7.75%
Granbury, TX (FHA|USDA|VA) 2 $790,000 $395,000 $8,507 5.38%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $720,000 $360,000 $7,298 6.00%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $695,000 $695,000 $12,254 6.00%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $515,000 $515,000 $0 8.58%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $505,000 $505,000 $10,215 5.88%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $505,000 $505,000 $10,488 6.63%
TYLER, TX (FHA|USDA|VA) 1 $505,000 $505,000 $9,133 6.88%
LUBBOCK, TX (FHA|USDA|VA) 2 $420,000 $210,000 $6,518 5.94%
Stephenville, TX (FHA|USDA|VA) 1 $395,000 $395,000 $8,111 6.13%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $385,000 $385,000 $8,104 6.13%
Huntsville, TX (FHA|USDA|VA) 1 $375,000 $375,000 $12,610 6.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $365,000 $365,000 $9,904 6.00%
Bay City, TX (FHA|USDA|VA) 1 $235,000 $235,000 $7,672 6.00%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $175,000 $175,000 $3,313 6.00%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $165,000 $165,000 $7,232 6.75%
Bonham, TX (FHA|USDA|VA) 1 $155,000 $155,000 $5,399 6.13%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $155,000 $155,000 $0 6.00%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $45,000 $45,000 $0 9.00%
Veritex Community Bank's top markets include Dallas, Houston, Athens, Nashville, and Austin among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Veritex Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 209 $172,635,000 $826,005 $14,839 6.49%
    VA 1 $165,000 $165,000 $7,232 6.75%

    For 2023, Veritex Community Bank's most frequently originated type of loan was Conventional, with 209 originations. Their 2nd most popular type was VA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 152 $128,980,000 $848,553 $14,983 6.47%
    Cash Out Refi 22 $14,270,000 $648,636 $12,554 6.28%
    Refi 18 $19,540,000 $1,085,556 $20,193 6.65%
    Other 14 $8,860,000 $632,857 $11,940 6.42%
    Home Improvement 4 $1,150,000 $287,500 $0 8.21%

    For 2023, Veritex Community Bank's most frequently cited loan purpose was Home Purchase, with 152 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 121 $75,455,000 $623,595 $11,850 6.18%
    30+ year 41 $60,655,000 $1,479,390 $24,543 5.84%
    5 Year 22 $17,010,000 $773,182 $0 7.40%
    1 Year 9 $5,555,000 $617,222 $0 8.61%
    Other 8 $10,300,000 $1,287,500 $0 8.22%
    15 Year 7 $1,255,000 $179,286 $3,890 8.05%
    3 Year 1 $225,000 $225,000 $0 8.50%
    10 Year 1 $2,345,000 $2,345,000 $0 6.50%

    For 2023, Veritex Community Bank's most frequently cited loan duration was 30 Year, with 121 originations. The 2nd most popular length was 30+ year, with 41 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 97 $116,125,000 $1,197,165
    $3k-4k 21 $6,465,000 $307,857
    $4k-5k 18 $7,060,000 $392,222
    $1k-2k 16 $4,710,000 $294,375
    $2k-3k 9 $1,665,000 $185,000
    $<1k 5 $1,135,000 $227,000

    Veritex Community Bank's average total fees were $11,850, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 97 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 94 $83,510,000 $888,404
    6-7% 77 $57,615,000 $748,247
    Over 8% 23 $12,285,000 $534,130
    7-8% 13 $12,155,000 $935,000
    4-5% 2 $5,910,000 $2,955,000
    3-4% 1 $1,325,000 $1,325,000

    During 2023, Veritex Community Bank's average interest rate for loans was 6.18%, while their most frequently originated rate bucket for loans was 5-6%, with 94 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 65 $114,575,000 $1,762,692 $28,015 6.39%
    $200k-400k 62 $18,790,000 $303,065 $7,220 6.38%
    $400k-600k 42 $20,320,000 $483,810 $10,240 6.49%
    $600k-1MM 20 $16,480,000 $824,000 $16,163 6.12%
    $100k-200k 16 $2,340,000 $146,250 $5,116 7.19%
    $100,000 or less 5 $295,000 $59,000 $766 8.57%

    2023 saw Veritex Community Bank place emphasis on $1MM+ loans with 65 originations, totaling $114,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 88 $110,230,000 $1,252,614 $20,751 6.05%
    $150k-250k 37 $16,505,000 $446,081 $9,825 6.29%
    $100k-150k 14 $4,630,000 $330,714 $8,281 5.78%
    $75k-100k 14 $4,420,000 $315,714 $7,713 6.25%
    $50k-75k 12 $2,260,000 $188,333 $4,689 6.49%
    $50k or less 1 $135,000 $135,000 $4,166 6.63%

    Veritex Community Bank lent most frequently to those with incomes in the $250k+ range, with 88 originations. The second most popular income band? $150k-250k, with 37 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 39 $35,145,000 $901,154 $15,870 6.03%
    30-36% 37 $28,865,000 $780,135 $14,240 6.07%
    <20% 25 $26,445,000 $1,057,800 $18,304 6.15%
    42% 10 $10,040,000 $1,004,000 $18,839 6.05%
    38% 9 $5,355,000 $595,000 $12,646 6.31%
    41% 8 $6,190,000 $773,750 $13,651 6.44%
    43% 7 $2,735,000 $390,714 $8,217 6.32%
    40% 7 $6,175,000 $882,143 $15,057 6.07%
    39% 7 $6,695,000 $956,429 $15,068 6.30%
    44% 6 $2,070,000 $345,000 $6,999 5.80%
    37% 4 $3,460,000 $865,000 $16,256 6.38%
    46% 3 $1,575,000 $525,000 $11,710 6.13%
    36% 2 $1,840,000 $920,000 $15,622 5.69%
    47% 2 $590,000 $295,000 $5,520 6.63%
    45% 1 $55,000 $55,000 $766 9.10%
    >60% 1 $1,805,000 $1,805,000 $0 7.00%

    Veritex Community Bank lent most frequently to those with DTI ratios of 20-30%, with 39 originations. The next most common DTI ratio? 30-36%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 142 $117,560,000 $827,887 $14,784 6.14%
    Not applicable 40 $32,010,000 $800,250 $0 7.92%
    Not provided 13 $14,345,000 $1,103,462 $18,641 6.09%
    Asian 8 $6,760,000 $845,000 $16,753 6.27%
    American Indian 3 $995,000 $331,667 $6,459 6.39%
    Asian Indian 1 $505,000 $505,000 $6,915 6.00%
    Other Asian 1 $425,000 $425,000 $10,202 6.63%
    Vietnamese 1 $145,000 $145,000 $5,726 5.88%
    Black 1 $55,000 $55,000 $766 9.10%

    Approval Rates

    Total approvals of all applications
    94.30%

    Veritex Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.86%

    Veritex Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 210 $172,800,000 $822,857

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    210 $172,800,000 $822,857

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $5,790,000 $413,571 $9,909 6.68%
    40-60% 36 $30,720,000 $853,333 $14,082 6.56%
    60-80% 101 $100,115,000 $991,238 $17,647 6.41%
    80-100% 51 $31,475,000 $617,157 $11,779 6.39%
    Under 20% 8 $4,700,000 $587,500 $3,539 7.64%