Veritex Community Bank Mortgage Rates, Fees & Info
Dallas, TXLEI: 549300Q2EZNO3H86ED06
Tax ID: 76-0752296
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Mortgage Data
Review & Overview
Veritex Community Bank is a smaller bank specializing in loans. Veritex Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Dallas, San Antonio, Phoenix, and Atlanta among others. We have data for 44 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 3/30/23 |
| 30 Year Conventional Purchase | 6.24% | 3/30/23 |
| 30 Year Conventional Refi | 5.95% | 3/30/23 |
| 30 Year Cash-out Refi | 6.15% | 3/30/23 |
| 15 Year Conventional Purchase | 5.73% | 3/30/23 |
| 15 Year Conventional Refi | 5.42% | 3/30/23 |
| 15 Year Cash-out Refi | 5.42% | 3/30/23 |
| 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
396Origination Dollar Volume (All Markets)
$760,250,000Relative Rate
Veritex Community Bank's average 30 year fixed mortgage rate was
4.28%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.48%.
Relative Fees (Closing Costs)
Veritex Community Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $11,010.
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 |
|---|---|---|---|---|---|
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 94 | $210,590,000 | $2,240,319 | $11,796 | 4.66% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 218 | $201,860,000 | $925,963 | $14,966 | 4.54% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 9 | $113,265,000 | $12,585,000 | $6,534 | 4.44% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $86,595,000 | $28,865,000 | $7,023 | 4.52% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $44,205,000 | $44,205,000 | $0 | 4.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 5 | $37,795,000 | $7,559,000 | $13,611 | 3.66% |
| Kingsville, TX (FHA|USDA|VA) | 2 | $21,550,000 | $10,775,000 | $0 | 3.25% |
| Athens, TX (FHA|USDA|VA) | 8 | $10,750,000 | $1,343,750 | $20,513 | 4.20% |
| Outside of Metro Areas | 8 | $7,150,000 | $893,750 | $16,235 | 3.89% |
| Gainesville, TX (FHA|USDA|VA) | 2 | $4,900,000 | $2,450,000 | $8,881 | 4.63% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $3,410,000 | $1,705,000 | $27,259 | 3.38% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $2,325,000 | $2,325,000 | $28,826 | 4.50% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $24,944 | 3.75% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 5 | $1,495,000 | $299,000 | $7,919 | 4.35% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $1,125,000 | $1,125,000 | $0 | 5.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $1,045,000 | $1,045,000 | $13,023 | 3.50% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 2 | $980,000 | $490,000 | $10,890 | 3.50% |
| Bonham, TX (FHA|USDA|VA) | 5 | $935,000 | $187,000 | $4,981 | 4.28% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $16,522 | 3.75% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $14,755 | 3.25% |
| LUBBOCK, TX (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $6,388 | 3.75% |
| HATTIESBURG, MS (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $10,052 | 3.25% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $8,233 | 4.00% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $6,651 | 3.25% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $8,718 | 3.75% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,369 | 3.88% |
| Lufkin, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 6.25% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $7,277 | 4.63% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $8,548 | 3.75% |
| Mount Pleasant, TX (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $11,865 | 3.25% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $8,998 | 4.13% |
| Spirit Lake, IA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,599 | 5.13% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,106 | 3.63% |
| Pecos, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,357 | 3.25% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,258 | 2.50% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,388 | 5.63% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,218 | 3.25% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 5.00% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,156 | 3.75% |
| Granbury, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 4.25% |
| Paris, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,542 | 2.50% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,114 | 5.88% |
| El Campo, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 7.25% |
| Brownwood, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $4,637 | 3.13% |
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 | 394 | $758,040,000 | $1,923,959 | $13,514 | 4.47% |
| HELOC | 2 | $2,210,000 | $1,105,000 | n/a | 3.63% |
For 2022, Veritex Community Bank's most frequently originated type of loan was Conventional, with 394 originations. Their 2nd most popular type was HELOC, with 2 originations.
Loan Reason
For 2022, Veritex Community Bank's most frequently cited loan purpose was Home Purchase, with 229 originations. The 2nd most popular reason was Cash Out Refi, with 66 originations.
Loan Duration/Length
For 2022, Veritex Community Bank's most frequently cited loan duration was 30 Year, with 210 originations. The 2nd most popular length was 30+ year, with 56 originations.
Origination Fees/Closing Costs
Veritex Community Bank's average total fees were $11,010, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 141 originations.
Interest Rates
During 2022, Veritex Community Bank's average interest rate for loans was 4.28%, while their most frequently originated rate bucket for loans was 3-4%, with 165 originations.
Loan Sizing
2022 saw Veritex Community Bank place emphasis on $1MM+ loans with 112 originations, totaling $651,740,000 in origination value.
Applicant Income
Veritex Community Bank lent most frequently to those with incomes in the $250k+ range, with 150 originations. The second most popular income band? $150k-250k, with 58 originations.
Applicant Debt to Income Ratio
Veritex Community Bank lent most frequently to those with DTI ratios of 20-30%, with 91 originations. The next most common DTI ratio? <20%, with 51 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.29%
Veritex Community Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.89%
Veritex Community Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 396 | $760,250,000 | $1,919,823 |