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Document And Entity Information - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Mar. 01, 2024
Jun. 30, 2023
Document Information [Line Items]      
Document Type 10-K    
Amendment Flag false    
Document Period End Date Dec. 31, 2023    
Document Fiscal Year Focus 2023    
Document Fiscal Period Focus FY    
Trading Symbol VEL    
Entity Registrant Name Velocity Financial, Inc.    
Entity Central Index Key 0001692376    
Current Fiscal Year End Date --12-31    
Entity Filer Category Accelerated Filer    
Entity Small Business true    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Public Float     $ 100.7
Entity Common Stock, Shares Outstanding   32,965,081  
Entity File Number 001-39183    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 46-0659719    
Entity Address, Address Line One 30699 Russell Ranch Road    
Entity Address, Address Line Two Suite 295    
Entity Address, City or Town Westlake Village    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 91362    
City Area Code 818    
Local Phone Number 532-3700    
Title of 12(b) Security Common stock, par value $0.01 per share    
Security Exchange Name NYSE    
Document Annual Report true    
Document Transition Report false    
Documents Incorporated by Reference

Certain portions of our Definitive Proxy Statement pursuant to Regulation 14A of the Securities Exchange Act of 1934 in connection with our 2024 Annual Meeting of Shareholders are incorporated by reference into Part III of this Form 10-K.

    
Auditor Name RSM US LLP    
Auditor Firm ID 49    
Auditor Location Los Angeles, California