Veritas Funding Mortgage Rates, Fees & Info

MIDVALE, UT

LEI: 549300UVOSI4XZZGUE14

Tax ID: 86-1092244

1 stars - Updated: 9/18/23 - out of 5 stars, based on 39 reviews

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

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Mortgage Data

Review & Overview

Veritas Funding is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Veritas Funding 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: Salt Lake City, Provo, Ogden, St. George, and Phoenix among others. We have data for 149 markets. (Some data included below & more in-depth data is available with an active subscription.)

Veritas Funding 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. Veritas Funding 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
Home Equity Line of Credit (HELOC) 8.71% 9/18/23
30 Year Conventional Purchase 6.85% 9/18/23
30 Year Conventional Refi 6.57% 9/18/23
30 Year Cash-out Refi 6.95% 9/18/23
30 Year FHA Purchase 7.62% 9/18/23
30 Year FHA Refi 6.61% 9/18/23
30 Year VA Purchase 6.35% 9/18/23
30 Year VA Refi 6.10% 9/18/23
30 Year USDA Purchase 6.55% 9/18/23
15 Year Conventional Purchase 6.12% 9/18/23
15 Year Conventional Refi 6.10% 9/18/23
15 Year Cash-out Refi 6.10% 9/18/23
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.

Veritas Funding Mortgage Calculator






Your Estimates

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

This is not an official calculator from Veritas Funding. 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

1,515

Origination Dollar Volume (All Markets)

$569,485,000
Show all (5) awards

Relative Rate

Veritas Funding's average 30 year fixed mortgage rate was 4.86%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.1%.

Relative Fees (Closing Costs)

Veritas Funding's average total fees/closing costs for a 30 year fixed rate mortgage were $12,184.

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
SALT LAKE CITY, UT (FHA|USDA|VA) 333 $132,585,000 $398,153 $8,658 4.87%
PROVO-OREM, UT (FHA|USDA|VA) 180 $76,900,000 $427,222 $9,707 4.72%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 129 $54,315,000 $421,047 $8,390 4.66%
ST. GEORGE, UT (FHA|USDA|VA) 42 $19,900,000 $473,810 $7,412 4.57%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 56 $18,130,000 $323,750 $15,546 4.98%
IDAHO FALLS, ID (FHA|USDA|VA) 52 $16,860,000 $324,231 $8,421 5.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 32 $14,080,000 $440,000 $18,962 5.12%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 25 $12,395,000 $495,800 $18,870 4.88%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 14 $9,790,000 $699,286 $13,379 4.04%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 35 $9,355,000 $267,286 $10,670 4.84%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 10 $8,410,000 $841,000 $17,512 3.67%
Outside of Metro Areas 28 $8,140,000 $290,714 $12,503 5.06%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 20 $8,130,000 $406,500 $13,658 4.94%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 24 $7,790,000 $324,583 $18,090 4.81%
BOISE CITY, ID (FHA|USDA|VA) 25 $7,615,000 $304,600 $12,912 4.91%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 17 $7,565,000 $445,000 $18,955 5.00%
Heber, UT (FHA|USDA|VA) 14 $7,260,000 $518,571 $8,717 4.43%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 18 $6,730,000 $373,889 $13,258 4.92%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 11 $4,695,000 $426,818 $18,338 4.70%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 11 $4,005,000 $364,091 $7,632 4.81%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 10 $3,810,000 $381,000 $20,507 4.84%
VISALIA, CA (FHA|USDA|VA) 13 $3,735,000 $287,308 $12,274 4.81%
TUCSON, AZ (FHA|USDA|VA) 14 $3,530,000 $252,143 $16,827 5.18%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $3,505,000 $1,168,333 $15,328 3.50%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 11 $3,445,000 $313,182 $13,550 4.35%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 11 $3,195,000 $290,455 $19,650 5.70%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 8 $3,180,000 $397,500 $14,131 4.08%
Price, UT (FHA|USDA|VA) 13 $2,995,000 $230,385 $7,379 4.91%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 7 $2,715,000 $387,857 $22,122 4.98%
JACKSONVILLE, FL (FHA|USDA|VA) 9 $2,685,000 $298,333 $19,787 5.47%
FRESNO, CA (FHA|USDA|VA) 8 $2,640,000 $330,000 $13,300 5.26%
ASHEVILLE, NC (FHA|USDA|VA) 7 $2,595,000 $370,714 $26,742 4.70%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 8 $2,590,000 $323,750 $22,284 5.12%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 9 $2,555,000 $283,889 $17,036 4.89%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 9 $2,515,000 $279,444 $18,286 5.17%
COLUMBIA, SC (FHA|USDA|VA) 9 $2,345,000 $260,556 $13,474 4.63%
COLORADO SPRINGS, CO (FHA|USDA|VA) 8 $2,340,000 $292,500 $20,284 5.61%
Cedar City, UT (FHA|USDA|VA) 8 $2,320,000 $290,000 $8,286 4.78%
BEND, OR (FHA|USDA|VA) 4 $2,170,000 $542,500 $18,129 3.84%
RALEIGH-CARY, NC (FHA|USDA|VA) 7 $2,155,000 $307,857 $13,533 4.88%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 5 $2,145,000 $429,000 $14,367 4.12%
POCATELLO, ID (FHA|USDA|VA) 8 $2,130,000 $266,250 $12,731 5.27%
COLUMBUS, OH (FHA|USDA|VA) 7 $2,105,000 $300,714 $20,803 5.04%
Rexburg, ID (FHA|USDA|VA) 6 $1,920,000 $320,000 $10,975 5.10%
STOCKTON, CA (FHA|USDA|VA) 6 $1,820,000 $303,333 $13,914 5.23%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 3 $1,665,000 $555,000 $20,199 5.08%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 7 $1,555,000 $222,143 $13,421 4.79%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 7 $1,535,000 $219,286 $14,162 5.71%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $1,515,000 $303,000 $15,636 5.68%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 5 $1,505,000 $301,000 $21,949 4.07%
SALEM, OR (FHA|USDA|VA) 4 $1,490,000 $372,500 $17,695 4.63%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 5 $1,455,000 $291,000 $14,678 4.58%
LOGAN, UT-ID (FHA|USDA|VA) 5 $1,455,000 $291,000 $6,321 4.52%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 3 $1,345,000 $448,333 $12,066 4.25%
KNOXVILLE, TN (FHA|USDA|VA) 5 $1,255,000 $251,000 $15,752 5.35%
Astoria, OR (FHA|USDA|VA) 3 $1,175,000 $391,667 $11,306 4.50%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 5 $1,165,000 $233,000 $14,488 5.13%
FAYETTEVILLE, NC (FHA|USDA|VA) 4 $1,080,000 $270,000 $16,134 4.50%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 4 $1,080,000 $270,000 $11,989 5.00%
JACKSONVILLE, NC (FHA|USDA|VA) 4 $1,020,000 $255,000 $22,116 5.00%
BOULDER, CO (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $17,953 5.75%
Breckenridge, CO (FHA|USDA|VA) 1 $995,000 $995,000 $19,814 5.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $980,000 $490,000 $19,088 5.00%
MODESTO, CA (FHA|USDA|VA) 3 $975,000 $325,000 $14,398 5.16%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 4 $950,000 $237,500 $11,697 4.97%
FORT COLLINS, CO (FHA|USDA|VA) 3 $945,000 $315,000 $12,269 4.50%
VALLEJO, CA (FHA|USDA|VA) 2 $940,000 $470,000 $10,871 3.25%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 4 $940,000 $235,000 $13,512 4.78%
BAKERSFIELD, CA (FHA|USDA|VA) 4 $930,000 $232,500 $9,989 5.06%
GREELEY, CO (FHA|USDA|VA) 3 $925,000 $308,333 $10,201 4.63%
MERCED, CA (FHA|USDA|VA) 3 $915,000 $305,000 $17,258 5.29%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $905,000 $301,667 $17,306 4.75%
Blackfoot, ID (FHA|USDA|VA) 3 $895,000 $298,333 $10,080 3.83%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $880,000 $440,000 $17,823 3.31%
Hermiston-Pendleton, OR (FHA|USDA|VA) 4 $870,000 $217,500 $12,013 4.38%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $855,000 $285,000 $11,570 5.16%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 2 $850,000 $425,000 $15,785 5.31%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 6 $850,000 $141,667 $7,143 5.23%
YUMA, AZ (FHA|USDA|VA) 2 $840,000 $420,000 $13,541 3.63%
Edwards, CO (FHA|USDA|VA) 1 $835,000 $835,000 $5,548 5.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 3 $815,000 $271,667 $13,623 5.79%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 4 $800,000 $200,000 $14,780 6.00%
WILMINGTON, NC (FHA|USDA|VA) 3 $775,000 $258,333 $10,347 4.08%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $735,000 $245,000 $11,252 3.96%
ALBUQUERQUE, NM (FHA|USDA|VA) 3 $705,000 $235,000 $14,796 5.58%
YUBA CITY, CA (FHA|USDA|VA) 2 $690,000 $345,000 $13,852 4.19%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $680,000 $340,000 $20,191 4.44%
JOHNSON CITY, TN (FHA|USDA|VA) 2 $680,000 $340,000 $10,729 5.44%
YAKIMA, WA (FHA|USDA|VA) 2 $670,000 $335,000 $20,192 4.63%
Ontario, OR-ID (FHA|USDA|VA) 2 $670,000 $335,000 $24,393 5.44%
Hailey, ID (FHA|USDA|VA) 1 $655,000 $655,000 $16,279 5.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $650,000 $325,000 $16,237 5.13%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $650,000 $325,000 $14,454 3.25%
Vernal, UT (FHA|USDA|VA) 2 $640,000 $320,000 $11,000 3.63%
Newport, OR (FHA|USDA|VA) 2 $640,000 $320,000 $24,745 4.56%
Coos Bay, OR (FHA|USDA|VA) 2 $600,000 $300,000 $13,559 4.63%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 3 $595,000 $198,333 $5,751 5.33%
RENO, NV (FHA|USDA|VA) 2 $590,000 $295,000 $18,967 5.94%
LONGVIEW, WA (FHA|USDA|VA) 2 $580,000 $290,000 $16,106 5.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $580,000 $290,000 $19,022 4.44%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $580,000 $290,000 $18,434 4.94%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $580,000 $290,000 $17,423 4.38%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 2 $560,000 $280,000 $13,153 3.50%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $550,000 $275,000 $12,629 4.63%
Mountain Home, ID (FHA|USDA|VA) 2 $540,000 $270,000 $14,747 4.31%
Roseburg, OR (FHA|USDA|VA) 2 $520,000 $260,000 $13,585 5.00%
GRAND JUNCTION, CO (FHA|USDA|VA) 2 $520,000 $260,000 $10,729 4.88%
Sevierville, TN (FHA|USDA|VA) 1 $505,000 $505,000 $12,326 5.88%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $495,000 $495,000 $15,820 3.25%
BILLINGS, MT (FHA|USDA|VA) 2 $490,000 $245,000 $17,465 5.38%
AKRON, OH (FHA|USDA|VA) 2 $480,000 $240,000 $14,884 5.56%
PUEBLO, CO (FHA|USDA|VA) 2 $460,000 $230,000 $10,286 4.13%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $425,000 $425,000 $24,619 3.99%
LAS CRUCES, NM (FHA|USDA|VA) 2 $410,000 $205,000 $13,346 5.44%
Outside of Metro Areas 1 $375,000 $375,000 $14,828 3.88%
Shelton, WA (FHA|USDA|VA) 1 $355,000 $355,000 $27,062 4.75%
SANTA FE, NM (FHA|USDA|VA) 1 $335,000 $335,000 $19,792 5.25%
Warrensburg, MO (FHA|USDA|VA) 1 $335,000 $335,000 $5,991 5.38%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $335,000 $335,000 $14,040 5.50%
Port Angeles, WA (FHA|USDA|VA) 1 $325,000 $325,000 $5,857 4.63%
Lake City, FL (FHA|USDA|VA) 1 $325,000 $325,000 $25,701 5.25%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $315,000 $315,000 $16,796 4.50%
CHICO, CA (FHA|USDA|VA) 1 $315,000 $315,000 $18,150 5.63%
Cañon City, CO (FHA|USDA|VA) 1 $315,000 $315,000 $16,516 5.13%
FLORENCE, SC (FHA|USDA|VA) 1 $305,000 $305,000 $22,060 2.99%
SHEBOYGAN, WI (FHA|USDA|VA) 1 $295,000 $295,000 $17,809 4.99%
Bozeman, MT (FHA|USDA|VA) 1 $285,000 $285,000 $20,046 6.63%
Shelby, NC (FHA|USDA|VA) 1 $275,000 $275,000 $18,117 3.63%
TWIN FALLS, ID (FHA|USDA|VA) 1 $275,000 $275,000 $12,090 6.25%
LEWISTON, ID-WA (FHA|USDA|VA) 1 $245,000 $245,000 $16,884 5.25%
Aberdeen, WA (FHA|USDA|VA) 1 $235,000 $235,000 $3,004 7.00%
Kalispell, MT (FHA|USDA|VA) 1 $235,000 $235,000 $14,992 6.00%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $235,000 $235,000 $15,288 2.62%
RACINE, WI (FHA|USDA|VA) 1 $235,000 $235,000 $16,888 6.63%
Susanville, CA (FHA|USDA|VA) 1 $235,000 $235,000 $14,336 3.13%
Marion, OH (FHA|USDA|VA) 1 $225,000 $225,000 $17,438 4.25%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $225,000 $225,000 $15,500 3.25%
EL CENTRO, CA (FHA|USDA|VA) 1 $225,000 $225,000 $14,040 4.99%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 1 $225,000 $225,000 $19,537 5.13%
SPARTANBURG, SC (FHA|USDA|VA) 1 $215,000 $215,000 $10,351 3.25%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $195,000 $195,000 $13,416 5.63%
Jackson, WY-ID (FHA|USDA|VA) 1 $175,000 $175,000 $10,043 4.50%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $175,000 $175,000 $16,106 5.25%
Pahrump, NV (FHA|USDA|VA) 1 $175,000 $175,000 $6,746 8.00%
LOUISVILLE, KY (FHA|USDA|VA) 1 $165,000 $165,000 $6,234 5.75%
CHEYENNE, WY (FHA|USDA|VA) 1 $125,000 $125,000 $9,436 5.50%
MEDFORD, OR (FHA|USDA|VA) 1 $125,000 $125,000 $7,094 3.38%
Dayton, TN (FHA|USDA|VA) 1 $105,000 $105,000 $8,420 6.25%
Snyder, TX (FHA|USDA|VA) 1 $65,000 $65,000 $5,134 5.63%
Veritas Funding's top markets include Salt Lake City, Provo, Ogden, St. George, and Phoenix among others.

Their top states include:
  • Utah (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 814 $329,380,000 $404,644 $7,735 4.81%
    FHA 402 $132,160,000 $328,756 $15,908 4.93%
    VA 287 $104,455,000 $363,955 $18,608 4.75%
    USDA 11 $3,465,000 $315,000 $8,880 4.24%
    HELOC 1 $25,000 $25,000 n/a 7.50%

    For 2022, Veritas Funding's most frequently originated type of loan was Conventional, with 814 originations. Their 2nd most popular type was FHA, with 402 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 713 $234,985,000 $329,572 $14,674 4.78%
    Home Purchase 692 $293,000,000 $423,410 $9,878 5.03%
    Refi 109 $40,885,000 $375,092 $7,519 3.84%
    Other 1 $615,000 $615,000 $3,680 5.88%

    For 2022, Veritas Funding's most frequently cited loan purpose was Cash Out Refi, with 713 originations. The 2nd most popular reason was Home Purchase, with 692 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,453 $548,845,000 $377,732 $12,184 4.86%
    15 Year 35 $9,115,000 $260,429 $5,466 3.86%
    Other 19 $9,095,000 $478,684 $8,909 4.60%
    20 Year 8 $2,430,000 $303,750 $7,954 3.84%

    For 2022, Veritas Funding's most frequently cited loan duration was 30 Year, with 1,453 originations. The 2nd most popular length was 15 Year, with 35 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 899 $346,565,000 $385,501
    $1k-2k 201 $82,555,000 $410,721
    $4k-5k 122 $41,260,000 $338,197
    $3k-4k 116 $38,160,000 $328,966
    $<1k 97 $33,255,000 $342,835
    $2k-3k 79 $27,665,000 $350,190

    Veritas Funding's average total fees were $12,184, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 899 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 439 $170,455,000 $388,280
    5-6% 424 $155,580,000 $366,934
    3-4% 385 $145,945,000 $379,078
    6-7% 187 $66,025,000 $353,075
    2.5-3% 45 $16,985,000 $377,444
    7-8% 26 $8,920,000 $343,077
    <2.5% 8 $5,560,000 $695,000
    Over 8% 1 $15,000 $15,000

    During 2022, Veritas Funding's average interest rate for loans was 4.86%, while their most frequently originated rate bucket for loans was 4-5%, with 439 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 870 $259,830,000 $298,655 $11,984 4.82%
    $400k-600k 402 $191,450,000 $476,244 $12,433 4.84%
    $600k-1MM 109 $75,585,000 $693,440 $14,958 4.83%
    $100k-200k 107 $17,415,000 $162,757 $6,808 4.88%
    $1MM+ 17 $24,575,000 $1,445,588 $17,864 4.11%
    $100,000 or less 10 $630,000 $63,000 $3,440 5.84%

    2022 saw Veritas Funding place emphasis on $200k-400k loans with 870 originations, totaling $259,830,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 435 $125,665,000 $288,885 $11,900 4.81%
    $75k-100k 378 $134,750,000 $356,481 $12,844 4.85%
    $100k-150k 331 $143,515,000 $433,580 $12,596 4.86%
    $150k-250k 152 $78,950,000 $519,408 $11,332 4.95%
    $50k or less 140 $31,010,000 $221,500 $9,762 4.60%
    $250k+ 72 $53,200,000 $738,889 $11,288 4.93%

    Veritas Funding lent most frequently to those with incomes in the $50k-75k range, with 435 originations. The second most popular income band? $75k-100k, with 378 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 222 $82,790,000 $372,928 $17,914 4.97%
    30-36% 206 $72,990,000 $354,320 $10,734 4.72%
    20-30% 157 $61,475,000 $391,561 $10,603 4.72%
    44% 107 $42,275,000 $395,093 $10,659 4.92%
    42% 72 $30,680,000 $426,111 $10,282 4.64%
    43% 71 $25,965,000 $365,704 $10,705 4.90%
    49% 70 $29,190,000 $417,000 $12,506 5.16%
    45% 68 $25,620,000 $376,765 $11,681 4.96%
    48% 66 $22,890,000 $346,818 $11,392 4.86%
    46% 66 $24,780,000 $375,455 $11,449 4.98%
    40% 64 $24,040,000 $375,625 $10,593 4.70%
    39% 60 $24,550,000 $409,167 $11,890 4.63%
    41% 60 $21,190,000 $353,167 $10,533 4.88%
    47% 55 $19,625,000 $356,818 $13,603 4.79%
    36% 44 $15,760,000 $358,182 $10,968 4.63%
    38% 42 $15,080,000 $359,048 $10,798 4.74%
    37% 41 $13,705,000 $334,268 $9,774 4.84%
    <20% 36 $14,930,000 $414,722 $7,707 4.63%
    >60% 3 $795,000 $265,000 $12,908 5.79%

    Veritas Funding lent most frequently to those with DTI ratios of 50-60%, with 222 originations. The next most common DTI ratio? 30-36%, with 206 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 998 $402,710,000 $403,517 $9,847 4.81%
    Not provided 409 $128,555,000 $314,315 $17,136 4.92%
    Black 49 $16,145,000 $329,490 $14,606 4.99%
    Asian 37 $13,955,000 $377,162 $8,787 4.57%
    Native Hawaiian or Islander 10 $4,020,000 $402,000 $13,983 4.25%
    American Indian 11 $3,605,000 $327,727 $8,403 4.29%
    Other Asian 1 $495,000 $495,000 $14,810 5.25%

    Approval Rates

    Total approvals of all applications
    95.10%

    Veritas Funding 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
    75.78%

    Veritas Funding has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,515 $569,485,000 $375,898

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,515 $569,485,000 $375,898

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 50 $12,280,000 $245,600 $5,439 4.43%
    40-60% 171 $55,085,000 $322,135 $7,923 4.61%
    60-80% 517 $196,065,000 $379,236 $11,449 4.83%
    80-100% 757 $299,755,000 $395,978 $13,676 4.90%
    Over 100% 12 $4,900,000 $408,333 $17,331 4.69%
    Under 20% 8 $1,400,000 $175,000 $2,501 5.28%