Verity Mortgage Rates, Fees & Info
Seattle, WALEI: 549300XHF3PMRO08N352
Tax ID: 91-0219005
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Mortgage Data
Review & Overview
Verity is a large mortgage company specializing in Home Improvement loans. Verity has a low ratio of conventional loans. Their top markets by origination volume include: Seattle, Bremerton, Bellingham, Olympia, and Oak Harbor among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Verity has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. 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) | 6.65% | 12/10/23 |
| 30 Year Conventional Purchase | 6.27% | 12/10/23 |
| 30 Year Conventional Refi | 6.27% | 12/10/23 |
| 30 Year Cash-out Refi | 6.27% | 12/10/23 |
| 15 Year Conventional Refi | 5.68% | 12/10/23 |
| 15 Year Cash-out Refi | 5.68% | 12/10/23 |
| 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. | ||
Verity Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
409Origination Dollar Volume (All Markets)
$61,851,695,000Awards
VERITY - 2022
VERITY is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Verity's average 30 year fixed mortgage rate was
4.35%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.41%.
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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 351 | $54,650,845,000 | $155,700,413 | $0 | 4.86% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 14 | $2,601,470,000 | $185,819,286 | $0 | 4.98% |
| BELLINGHAM, WA (FHA|USDA|VA) | 5 | $983,025,000 | $196,605,000 | $0 | 4.40% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 11 | $922,355,000 | $83,850,455 | $0 | 4.15% |
| Oak Harbor, WA (FHA|USDA|VA) | 6 | $717,030,000 | $119,505,000 | $0 | 5.64% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 6 | $476,930,000 | $79,488,333 | $0 | 4.61% |
| Outside of Metro Areas | 2 | $385,010,000 | $192,505,000 | $0 | 6.50% |
| Aberdeen, WA (FHA|USDA|VA) | 2 | $360,010,000 | $180,005,000 | $0 | 5.37% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $300,005,000 | $300,005,000 | $0 | 4.00% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 3 | $159,415,000 | $53,138,333 | $0 | 4.78% |
| YAKIMA, WA (FHA|USDA|VA) | 3 | $125,075,000 | $41,691,667 | $0 | 4.92% |
| Shelton, WA (FHA|USDA|VA) | 1 | $80,005,000 | $80,005,000 | $0 | 4.00% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $50,005,000 | $50,005,000 | $0 | 6.74% |
| Moses Lake, WA (FHA|USDA|VA) | 1 | $40,005,000 | $40,005,000 | $0 | 4.00% |
| Centralia, WA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 4.50% |
| Othello, WA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 5.50% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against VERITY 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 |
|---|---|---|---|---|---|
| HELOC | 399 | $61,824,485,000 | $154,948,584 | n/a | 4.87% |
| Conventional | 10 | $27,210,000 | $2,721,000 | $0 | 4.36% |
For 2022, Verity's most frequently originated type of loan was HELOC, with 399 originations. Their 2nd most popular type was Conventional, with 10 originations.
Loan Reason
For 2022, Verity's most frequently cited loan purpose was Home Improvement, with 253 originations. The 2nd most popular reason was Other, with 89 originations.
Loan Duration/Length
For 2022, Verity's most frequently cited loan duration was Other, with 379 originations. The 2nd most popular length was 15 Year, with 12 originations.
Interest Rates
During 2022, Verity's average interest rate for loans was 4.35%, while their most frequently originated rate bucket for loans was 4-5%, with 125 originations.
Loan Sizing
2022 saw Verity place emphasis on $1MM+ loans with 405 originations, totaling $61,850,815,000 in origination value.
Applicant Income
Verity lent most frequently to those with incomes in the $150k-250k range, with 135 originations. The second most popular income band? $100k-150k, with 93 originations.
Applicant Debt to Income Ratio
Verity lent most frequently to those with DTI ratios of 20-30%, with 100 originations. The next most common DTI ratio? 30-36%, with 78 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.73%
Verity has a below average approval rate.
Pick Rate
Approvals leading to origination77.75%
Verity has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 409 | $61,851,695,000 | $151,226,638 |