Veritas Funding Mortgage Rates, Fees & Info

MIDVALE, UT

LEI: 549300UVOSI4XZZGUE14

Tax ID: 86-1092244

4 stars - out of 5 stars, based on 54 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Veritas Funding is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and Refi 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 Heber among others. We have data for 133 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 an average 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 6.91% 10/3/22
    30 Year Conventional Refi 6.73% 10/3/22
    30 Year Cash-out Refi 6.86% 10/3/22
    30 Year FHA Purchase 7.47% 10/3/22
    30 Year FHA Refi 7.31% 10/3/22
    30 Year VA Purchase 6.54% 10/3/22
    30 Year VA Refi 6.16% 10/3/22
    30 Year USDA Purchase 6.73% 10/3/22
    30 Year USDA Refi 6.85% 10/3/22
    15 Year Conventional Purchase 6.55% 10/3/22
    15 Year Conventional Refi 6.44% 10/3/22
    15 Year Cash-out Refi 6.44% 10/3/22
    15 Year FHA Refi 5.96% 10/3/22
    15 Year VA Refi 6.21% 10/3/22
    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

    2,864

    Origination Dollar Volume (All Markets)

    $944,650,000
    Show all (5) awards

    Relative Rate

    Veritas Funding 's average 30 year fixed mortgage rate was 3.1%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.05%.

    Relative Fees (Closing Costs)

    Veritas Funding 's average total fees/closing costs for a 30 year fixed rate mortgage were $5,922.

    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) 928 $301,310,000 $324,688 $5,069 3.06%
    PROVO-OREM, UT (FHA|USDA|VA) 408 $138,860,000 $340,343 $5,337 3.09%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 322 $107,880,000 $335,031 $6,235 3.05%
    ST. GEORGE, UT (FHA|USDA|VA) 143 $44,755,000 $312,972 $4,579 3.08%
    Heber, UT (FHA|USDA|VA) 57 $40,935,000 $718,158 $4,764 3.00%
    IDAHO FALLS, ID (FHA|USDA|VA) 127 $35,395,000 $278,701 $6,665 3.07%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 49 $28,085,000 $573,163 $4,943 2.99%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 76 $22,060,000 $290,263 $6,067 2.93%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 57 $19,045,000 $334,123 $4,876 3.20%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 39 $18,625,000 $477,564 $7,057 3.03%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 34 $17,630,000 $518,529 $8,251 3.16%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 43 $16,685,000 $388,023 $11,375 3.27%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 39 $12,405,000 $318,077 $8,158 2.94%
    VISALIA, CA (FHA|USDA|VA) 45 $10,845,000 $241,000 $7,206 3.11%
    Outside of Metro Areas 42 $10,000,000 $238,095 $5,293 3.28%
    BOISE CITY, ID (FHA|USDA|VA) 26 $7,160,000 $275,385 $6,970 3.08%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 14 $5,730,000 $409,286 $3,871 3.26%
    Price, UT (FHA|USDA|VA) 28 $5,200,000 $185,714 $5,418 3.20%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 7 $4,285,000 $612,143 $8,001 2.82%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 17 $3,985,000 $234,412 $7,540 2.92%
    FRESNO, CA (FHA|USDA|VA) 14 $3,890,000 $277,857 $7,435 2.95%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 12 $3,600,000 $300,000 $5,191 3.20%
    MODESTO, CA (FHA|USDA|VA) 9 $3,175,000 $352,778 $5,461 3.10%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 11 $3,155,000 $286,818 $11,241 2.79%
    Cedar City, UT (FHA|USDA|VA) 11 $3,145,000 $285,909 $5,481 3.08%
    VALLEJO, CA (FHA|USDA|VA) 8 $3,060,000 $382,500 $5,938 3.17%
    LOGAN, UT-ID (FHA|USDA|VA) 12 $2,890,000 $240,833 $4,154 3.21%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 24 $2,850,000 $118,750 $4,862 3.46%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 10 $2,500,000 $250,000 $7,667 2.97%
    STOCKTON, CA (FHA|USDA|VA) 7 $2,495,000 $356,429 $6,382 3.20%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 9 $2,485,000 $276,111 $8,996 3.25%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 12 $2,300,000 $191,667 $6,651 3.54%
    SALEM, OR (FHA|USDA|VA) 8 $2,280,000 $285,000 $7,871 3.06%
    Blackfoot, ID (FHA|USDA|VA) 9 $2,255,000 $250,556 $6,923 3.01%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 3 $2,155,000 $718,333 $5,109 3.00%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 10 $1,990,000 $199,000 $5,738 3.34%
    SALINAS, CA (FHA|USDA|VA) 5 $1,795,000 $359,000 $8,165 2.72%
    Rexburg, ID (FHA|USDA|VA) 8 $1,790,000 $223,750 $7,417 3.67%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 4 $1,710,000 $427,500 $5,416 3.16%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $1,670,000 $278,333 $10,280 2.92%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 5 $1,615,000 $323,000 $6,422 3.35%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 7 $1,585,000 $226,429 $10,502 2.71%
    COLUMBUS, OH (FHA|USDA|VA) 7 $1,455,000 $207,857 $5,693 2.86%
    BEND, OR (FHA|USDA|VA) 4 $1,350,000 $337,500 $7,725 2.97%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 3 $1,205,000 $401,667 $9,635 3.42%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 5 $1,145,000 $229,000 $7,543 2.95%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 2 $1,030,000 $515,000 $5,635 3.13%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 4 $1,000,000 $250,000 $6,666 3.06%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 4 $970,000 $242,500 $7,837 2.97%
    Aberdeen, WA (FHA|USDA|VA) 2 $890,000 $445,000 $8,956 2.63%
    POCATELLO, ID (FHA|USDA|VA) 4 $890,000 $222,500 $6,802 2.97%
    Astoria, OR (FHA|USDA|VA) 3 $865,000 $288,333 $6,505 3.25%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $830,000 $415,000 $7,899 3.56%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 5 $795,000 $159,000 $4,966 3.30%
    TUCSON, AZ (FHA|USDA|VA) 3 $785,000 $261,667 $4,608 3.12%
    MADERA, CA (FHA|USDA|VA) 3 $765,000 $255,000 $10,664 2.63%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $710,000 $355,000 $4,689 2.56%
    BOULDER, CO (FHA|USDA|VA) 3 $685,000 $228,333 $2,102 2.58%
    Hermiston-Pendleton, OR (FHA|USDA|VA) 3 $665,000 $221,667 $10,708 4.13%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 2 $650,000 $325,000 $8,846 3.81%
    Evanston, WY (FHA|USDA|VA) 3 $595,000 $198,333 $5,850 3.83%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $580,000 $290,000 $13,088 2.88%
    KNOXVILLE, TN (FHA|USDA|VA) 3 $575,000 $191,667 $4,564 3.04%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 4 $550,000 $137,500 $4,682 3.19%
    COLUMBIA, SC (FHA|USDA|VA) 2 $550,000 $275,000 $10,101 3.00%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $545,000 $545,000 $3,854 3.38%
    CHICO, CA (FHA|USDA|VA) 1 $545,000 $545,000 $2,109 2.38%
    RALEIGH-CARY, NC (FHA|USDA|VA) 3 $545,000 $181,667 $4,396 3.21%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $540,000 $270,000 $8,276 2.75%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 2 $530,000 $265,000 $6,689 3.19%
    ALBANY-LEBANON, OR (FHA|USDA|VA) 2 $500,000 $250,000 $9,288 3.50%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $500,000 $250,000 $8,848 2.81%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $490,000 $245,000 $5,015 3.25%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $490,000 $245,000 $9,511 3.00%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $465,000 $465,000 $23,771 2.99%
    Oak Harbor, WA (FHA|USDA|VA) 1 $455,000 $455,000 $14,432 2.25%
    Outside of Metro Areas 1 $455,000 $455,000 $7,758 3.75%
    BAKERSFIELD, CA (FHA|USDA|VA) 2 $440,000 $220,000 $3,389 2.56%
    RACINE, WI (FHA|USDA|VA) 2 $430,000 $215,000 $8,091 2.87%
    Newport, OR (FHA|USDA|VA) 1 $405,000 $405,000 $8,784 2.88%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $365,000 $365,000 $2,399 3.25%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $355,000 $355,000 $12,989 2.50%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $355,000 $355,000 $6,352 2.99%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $340,000 $170,000 $4,252 3.00%
    Vernal, UT (FHA|USDA|VA) 2 $340,000 $170,000 $3,230 2.69%
    MEDFORD, OR (FHA|USDA|VA) 2 $330,000 $165,000 $6,626 2.69%
    YUBA CITY, CA (FHA|USDA|VA) 1 $325,000 $325,000 $9,271 2.38%
    Eureka-Arcata, CA (FHA|USDA|VA) 1 $315,000 $315,000 $2,634 2.63%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $315,000 $315,000 $2,419 3.00%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $305,000 $305,000 $7,120 2.63%
    BELLINGHAM, WA (FHA|USDA|VA) 1 $285,000 $285,000 $4,397 2.88%
    LONGVIEW, WA (FHA|USDA|VA) 1 $275,000 $275,000 $9,603 3.38%
    WACO, TX (FHA|USDA|VA) 1 $275,000 $275,000 $4,990 3.50%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $275,000 $275,000 $11,187 3.25%
    Jackson, WY-ID (FHA|USDA|VA) 1 $275,000 $275,000 $5,290 3.38%
    FOND DU LAC, WI (FHA|USDA|VA) 1 $265,000 $265,000 $14,606 2.50%
    NAPA, CA (FHA|USDA|VA) 1 $265,000 $265,000 $8,465 2.75%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $255,000 $255,000 $8,324 2.25%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 3 $245,000 $81,667 $3,617 3.49%
    JACKSON, TN (FHA|USDA|VA) 1 $245,000 $245,000 $5,730 3.25%
    Ellensburg, WA (FHA|USDA|VA) 1 $245,000 $245,000 $4,993 3.63%
    YUMA, AZ (FHA|USDA|VA) 1 $245,000 $245,000 $5,214 3.25%
    SHEBOYGAN, WI (FHA|USDA|VA) 1 $245,000 $245,000 $8,025 3.25%
    Sonora, CA (FHA|USDA|VA) 1 $235,000 $235,000 $13,247 2.25%
    Shelton, WA (FHA|USDA|VA) 1 $235,000 $235,000 $8,998 2.99%
    Forest City, NC (FHA|USDA|VA) 1 $225,000 $225,000 $9,916 2.38%
    PUEBLO, CO (FHA|USDA|VA) 1 $225,000 $225,000 $8,328 3.25%
    Red Bluff, CA (FHA|USDA|VA) 1 $225,000 $225,000 $3,945 3.38%
    MADISON, WI (FHA|USDA|VA) 1 $225,000 $225,000 $11,688 3.75%
    Sevierville, TN (FHA|USDA|VA) 1 $225,000 $225,000 $5,989 3.25%
    FORT SMITH, AR-OK (FHA|USDA|VA) 1 $225,000 $225,000 $6,050 2.75%
    TYLER, TX (FHA|USDA|VA) 1 $225,000 $225,000 $7,879 2.50%
    GREELEY, CO (FHA|USDA|VA) 1 $225,000 $225,000 $3,920 4.00%
    Greenwood, SC (FHA|USDA|VA) 1 $215,000 $215,000 $5,385 2.75%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $205,000 $205,000 $4,603 3.25%
    TOLEDO, OH (FHA|USDA|VA) 1 $205,000 $205,000 $11,011 2.75%
    Wooster, OH (FHA|USDA|VA) 1 $195,000 $195,000 $6,067 3.25%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $195,000 $195,000 $7,369 2.88%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $195,000 $195,000 $8,931 3.00%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $195,000 $195,000 $10,700 3.13%
    Norwalk, OH (FHA|USDA|VA) 1 $195,000 $195,000 $11,483 2.75%
    REDDING, CA (FHA|USDA|VA) 1 $185,000 $185,000 $1,979 3.38%
    Burley, ID (FHA|USDA|VA) 1 $185,000 $185,000 $3,092 2.63%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $185,000 $185,000 $8,138 3.50%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $185,000 $185,000 $7,600 2.88%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $180,000 $90,000 $3,641 3.50%
    GRAND JUNCTION, CO (FHA|USDA|VA) 1 $175,000 $175,000 $1,664 3.00%
    Gillette, WY (FHA|USDA|VA) 1 $175,000 $175,000 $8,492 2.88%
    MIDLAND, TX (FHA|USDA|VA) 1 $165,000 $165,000 $4,204 2.75%
    CASPER, WY (FHA|USDA|VA) 1 $135,000 $135,000 $5,492 2.50%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $135,000 $135,000 $5,039 2.50%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $135,000 $135,000 $4,252 2.25%
    TWIN FALLS, ID (FHA|USDA|VA) 1 $65,000 $65,000 $4,130 2.88%

    Veritas Funding 's top markets include Salt Lake City, Provo, Ogden, St. George, and Heber among others.

    Similar Lenders

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

    HORIZON UTAH Federal Credit Union
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    HERITAGE COMMUNITY CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,228 $735,350,000 $330,049 $4,428 3.14%
    FHA 457 $144,025,000 $315,153 $11,279 2.94%
    VA 159 $59,505,000 $374,245 $9,135 2.62%
    USDA 20 $5,770,000 $288,500 $6,743 2.58%

    For 2021, Veritas Funding 's most frequently originated type of loan was Conventional, with 2,228 originations. Their 2nd most popular type was FHA, with 457 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,009 $377,735,000 $374,366 $7,713 3.16%
    Cash Out Refi 931 $293,775,000 $315,548 $5,391 3.15%
    Refi 924 $273,140,000 $295,606 $4,111 2.91%

    For 2021, Veritas Funding 's most frequently cited loan purpose was Home Purchase, with 1,009 originations. The 2nd most popular reason was Cash Out Refi, with 931 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,676 $898,850,000 $335,893 $5,922 3.10%
    15 Year 105 $24,025,000 $228,810 $3,543 2.48%
    20 Year 46 $12,300,000 $267,391 $3,659 2.88%
    Other 30 $8,590,000 $286,333 $6,442 3.12%
    10 Year 7 $885,000 $126,429 $2,314 2.45%

    For 2021, Veritas Funding 's most frequently cited loan duration was 30 Year, with 2,676 originations. The 2nd most popular length was 15 Year, with 105 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 962 $297,190,000 $308,929
    $1k-2k 742 $254,260,000 $342,668
    $5k+ 422 $161,150,000 $381,872
    $2k-3k 291 $89,855,000 $308,780
    $3k-4k 239 $74,215,000 $310,523
    $4k-5k 208 $67,980,000 $326,827

    Veritas Funding 's average total fees were $5,922, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 962 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,317 $444,095,000 $337,202
    2.5-3% 1,139 $378,045,000 $331,910
    <2.5% 339 $98,125,000 $289,454
    4-5% 55 $19,325,000 $351,364
    6-7% 6 $1,880,000 $313,333
    7-8% 4 $1,380,000 $345,000
    5-6% 3 $1,425,000 $475,000
    Over 8% 1 $375,000 $375,000

    During 2021, Veritas Funding 's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 3-4%, with 1,317 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,696 $501,510,000 $295,702 $5,768 3.06%
    $400k-600k 573 $269,125,000 $469,677 $7,170 3.15%
    $100k-200k 419 $66,775,000 $159,368 $3,688 3.00%
    $600k-1MM 102 $73,690,000 $722,451 $7,932 3.10%
    $100,000 or less 53 $3,935,000 $74,245 $3,006 3.25%
    $1MM+ 21 $29,615,000 $1,410,238 $9,107 2.99%

    2021 saw Veritas Funding place emphasis on $200k-400k loans with 1,696 originations, totaling $501,510,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 893 $262,335,000 $293,768 $6,219 3.07%
    $75k-100k 637 $206,905,000 $324,812 $6,023 3.11%
    $100k-150k 544 $198,720,000 $365,294 $5,528 3.14%
    $50k or less 414 $93,990,000 $227,029 $5,161 2.92%
    $150k-250k 267 $115,395,000 $432,191 $5,505 3.14%
    $250k+ 108 $66,990,000 $620,278 $5,464 3.09%

    Veritas Funding lent most frequently to those with incomes in the $50k-75k range, with 893 originations. The second most popular income band? $75k-100k, with 637 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 458 $156,680,000 $342,096 $5,322 3.09%
    20-30% 439 $132,305,000 $301,378 $4,699 3.05%
    50-60% 199 $66,205,000 $332,688 $11,422 2.89%
    44% 181 $57,575,000 $318,094 $5,374 3.11%
    <20% 139 $43,465,000 $312,698 $3,786 2.93%
    43% 126 $43,050,000 $341,667 $5,621 3.11%
    42% 124 $44,730,000 $360,726 $5,585 3.10%
    41% 124 $43,850,000 $353,629 $6,238 3.16%
    49% 121 $41,575,000 $343,595 $5,795 3.09%
    40% 109 $35,715,000 $327,661 $5,371 3.09%
    47% 107 $35,185,000 $328,832 $6,082 3.06%
    39% 107 $36,365,000 $339,860 $5,299 3.10%
    38% 106 $37,980,000 $358,302 $5,405 3.18%
    48% 106 $34,930,000 $329,528 $6,624 3.25%
    46% 100 $32,080,000 $320,800 $6,352 3.14%
    45% 96 $30,340,000 $316,042 $6,218 3.20%
    37% 91 $29,275,000 $321,703 $4,900 3.21%
    36% 82 $27,830,000 $339,390 $5,761 3.17%
    >60% 1 $755,000 $755,000 $3,409 3.25%

    Veritas Funding lent most frequently to those with DTI ratios of 30-36%, with 458 originations. The next most common DTI ratio? 20-30%, with 439 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,415 $797,425,000 $330,197 $5,512 3.08%
    Not provided 268 $82,910,000 $309,366 $7,633 3.01%
    Asian 81 $32,785,000 $404,753 $6,571 3.07%
    Black 61 $18,395,000 $301,557 $7,040 3.25%
    American Indian 26 $8,980,000 $345,385 $7,434 3.20%
    Native Hawaiian or Islander 10 $3,140,000 $314,000 $7,120 3.35%
    Other Asian 2 $630,000 $315,000 $5,850 2.88%
    Other Pacific Islander 1 $385,000 $385,000 $3,388 3.00%

    Approval Rates

    Total approvals of all applications
    96.30%

    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
    85.06%

    Veritas Funding has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $305,000 $305,000
    NA 2,863 $944,345,000 $329,845

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,864 $944,650,000 $329,836

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 173 $40,055,000 $231,532 $3,052 2.89%
    40-60% 500 $146,190,000 $292,380 $3,760 2.95%
    60-80% 1,132 $381,900,000 $337,367 $4,971 3.17%
    80-100% 1,021 $365,365,000 $357,850 $8,020 3.08%
    Over 100% 21 $9,155,000 $435,952 $15,830 2.70%
    Under 20% 16 $1,670,000 $104,375 $2,536 2.68%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    VERITAS FUNDING, LLC Conventional home mortgage Improper use of your report 1 50.0%
    VERITAS FUNDING, LLC Conventional home mortgage Trouble during payment process 1 50.0%