Verity Mortgage Rates, Fees & Info

Seattle, WA

LEI: 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.65% 10/31/24
30 Year Conventional Purchase 6.27% 10/31/24
30 Year Conventional Refi 6.27% 10/31/24
30 Year Cash-out Refi 6.27% 10/31/24
15 Year Conventional Refi 5.68% 10/31/24
15 Year Cash-out Refi 5.68% 10/31/24
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.

Verity Mortgage Calculator






Your Estimates

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

This is not an official calculator from Verity. 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

409

Origination Dollar Volume (All Markets)

$61,851,695,000

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%
Verity's top markets include Seattle, Bremerton, Bellingham, Olympia, and Oak Harbor among others.

Their top states include:
  • Washington (FHA|USDA|VA)
  • Similar Lenders

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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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 253 $40,951,125,000 $161,862,154 $0 5.08%
    Other 89 $10,891,545,000 $122,376,910 $0 4.53%
    Refi 53 $8,259,095,000 $155,831,981 $0 4.38%
    Home Purchase 11 $1,749,355,000 $159,032,273 $0 4.73%
    Cash Out Refi 3 $575,000 $191,667 $0 4.75%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 379 $59,649,215,000 $157,385,792 $0 5.20%
    15 Year 12 $971,060,000 $80,921,667 $0 0.00%
    10 Year 9 $994,175,000 $110,463,889 $0 0.00%
    5 Year 6 $223,330,000 $37,221,667 $0 0.67%
    30 Year 2 $5,310,000 $2,655,000 $0 4.35%
    3 Year 1 $8,605,000 $8,605,000 $0 4.50%

    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

    Loan Rate Originations Total Value Average Loan
    4-5% 125 $17,045,685,000 $136,365,480
    3-4% 95 $16,462,725,000 $173,291,842
    6-7% 75 $10,537,295,000 $140,497,267
    5-6% 69 $12,717,635,000 $184,313,551
    <2.5% 26 $2,186,260,000 $84,086,923
    7-8% 19 $2,902,095,000 $152,741,842

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 405 $61,850,815,000 $152,718,062 $0 4.86%
    $200k-400k 2 $700,000 $350,000 $0 4.75%
    $100,000 or less 1 $65,000 $65,000 $0 4.25%
    $100k-200k 1 $115,000 $115,000 $0 5.50%

    2022 saw Verity place emphasis on $1MM+ loans with 405 originations, totaling $61,850,815,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 135 $23,591,565,000 $174,752,333 $0 5.03%
    $100k-150k 93 $13,500,765,000 $145,169,516 $0 4.83%
    $250k+ 60 $13,897,770,000 $231,629,500 $0 4.99%
    $75k-100k 57 $5,727,585,000 $100,483,947 $0 4.77%
    $50k-75k 26 $2,538,130,000 $97,620,385 $0 4.46%
    $50k or less 19 $1,304,125,000 $68,638,158 $0 4.42%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 100 $17,210,850,000 $172,108,500 $0 4.67%
    30-36% 78 $12,705,620,000 $162,892,564 $0 4.63%
    <20% 50 $7,879,950,000 $157,599,000 $0 5.13%
    46% 19 $2,792,795,000 $146,989,211 $0 5.65%
    50-60% 15 $2,352,075,000 $156,805,000 $0 5.93%
    40% 14 $2,415,070,000 $172,505,000 $0 4.98%
    36% 14 $1,287,270,000 $91,947,857 $0 4.85%
    39% 14 $2,155,870,000 $153,990,714 $0 4.76%
    44% 14 $2,012,470,000 $143,747,857 $0 4.83%
    49% 13 $2,131,965,000 $163,997,308 $0 4.91%
    43% 11 $1,667,055,000 $151,550,455 $0 5.64%
    38% 10 $1,476,860,000 $147,686,000 $0 4.45%
    41% 10 $975,050,000 $97,505,000 $0 4.72%
    37% 8 $1,020,240,000 $127,530,000 $0 5.35%
    42% 7 $887,635,000 $126,805,000 $0 4.25%
    48% 6 $608,030,000 $101,338,333 $0 4.96%
    45% 6 $745,030,000 $124,171,667 $0 3.29%
    47% 4 $710,020,000 $177,505,000 $0 4.87%
    >60% 3 $460,015,000 $153,338,333 $0 6.16%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 252 $37,966,950,000 $150,662,500 $0 4.69%
    Not provided 62 $10,052,510,000 $162,137,258 $0 5.21%
    Black 38 $6,141,090,000 $161,607,632 $0 5.43%
    Asian 28 $5,287,540,000 $188,840,714 $0 4.88%
    American Indian 8 $1,118,340,000 $139,792,500 $0 4.70%
    Not applicable 13 $357,825,000 $27,525,000 $0 4.30%
    Vietnamese 3 $324,015,000 $108,005,000 $0 5.61%
    Guamanian 1 $206,405,000 $206,405,000 $0 4.75%
    Filipino 2 $177,010,000 $88,505,000 $0 7.30%
    Other Pacific Islander 1 $120,005,000 $120,005,000 $0 5.99%
    Native Hawaiian or Islander 1 $100,005,000 $100,005,000 $0 4.75%

    Approval Rates

    Total approvals of all applications
    78.73%

    Verity has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    77.75%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    409 $61,851,695,000 $151,226,638

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 1 $305,000 $305,000 $0 5.00%
    60-80% 10 $29,210,000 $2,921,000 $0 4.26%
    Over 100% 398 $61,822,180,000 $155,332,111 $0 4.87%