Vision Financial Mortgage Rates, Fees & Info
Durham, NCLEI: 549300YMPH2H8CM5WS98
Tax ID: 56-0756045
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Mortgage Data
Review & Overview
Vision Financial is a smaller mortgage company specializing in Home Improvement and Other loans. Vision Financial has a high proportion of conventional loans. Their top markets by origination volume include: Durham, Fayetteville, and Henderson among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Vision Financial has an above average approval rate when compared to the average across all lenders.
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Originations
17Origination Dollar Volume (All Markets)
$965,000Top 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 |
|---|---|---|---|---|---|
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 13 | $705,000 | $54,231 | $0 | 0.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $0 | 0.00% |
| Henderson, NC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 17 | $965,000 | $56,765 | $0 | 0.00% |
For 2023, Vision Financial's most frequently originated type of loan was Conventional, with 17 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 9 | $455,000 | $50,556 | $0 | 0.00% |
| Other | 6 | $380,000 | $63,333 | $0 | 0.00% |
| Refi | 2 | $130,000 | $65,000 | $0 | 0.00% |
For 2023, Vision Financial's most frequently cited loan purpose was Home Improvement, with 9 originations. The 2nd most popular reason was Other, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 17 | $965,000 | $56,765 | $0 | 0.00% |
For 2023, Vision Financial's most frequently cited loan duration was Other, with 17 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 15 | $725,000 | $48,333 | $0 | 0.00% |
| $100k-200k | 2 | $240,000 | $120,000 | $0 | 0.00% |
2023 saw Vision Financial place emphasis on $100,000 or less loans with 15 originations, totaling $725,000 in origination value.
Applicant Income
Vision Financial lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $100k-150k, with 3 originations.
Applicant Debt to Income Ratio
Vision Financial lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? 30-36%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 12 | $610,000 | $50,833 | $0 | 0.00% |
| Black | 4 | $290,000 | $72,500 | $0 | 0.00% |
| Asian | 1 | $65,000 | $65,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Vision Financial has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 17 | $965,000 | $56,765 |