Select Quarterly Financial Data (Unaudited) - Schedule of Unaudited Quarterly Results (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]
Interest income	$ 86,269	$ 79,088	$ 74,897	$ 70,521	$ 65,632	$ 63,419	$ 59,243	$ 52,049	$ 310,775	$ 240,343	$ 181,968
Interest expense — portfolio related	51,405	47,583	45,451	42,029	40,854	34,561	28,752	23,556	186,468	127,723	85,386
Net interest income — portfolio related	34,864	31,505	29,446	28,492	24,778	28,858	30,491	28,493	124,307	112,620	96,582
Interest expense — corporate debt	4,140	4,138	4,139	4,139	4,139	4,011	4,182	17,140	16,556	29,472	20,609
Net interest income	30,724	27,367	25,307	24,353	20,639	24,847	26,309	11,353	107,751	83,148	75,973
Provision for (reversal of) loan losses	827	154	298	636	(437)	580	279	730	1,915	1,152	(292)
Net interest income after provision for loan losses	29,897	27,213	25,009	23,717	21,076	24,267	26,030	10,623	105,836	81,996	76,265
Other operating income	21,670	17,360	14,037	12,843	11,420	3,027	3,592	6,281	65,910	24,320	9,798
Operating expenses	29,260	27,334	22,222	21,803	20,804	13,245	14,832	12,883	100,619	61,764	46,270
Income before income taxes	22,307	17,239	16,824	14,757	11,692	14,049	14,790	4,021	71,127	44,552	39,793
Income tax expense	5,141	5,070	4,602	4,021	3,465	3,759	4,019	790	18,834	12,033	10,569
Net income	17,166	12,169	12,222	10,736	8,227	10,290	10,771	3,231	52,293	32,519	29,224
Less (loss) income attributable to noncontrolling interest	(189)	83	39	87	(235)	307	126	110	20	308
Net income attributable to Velocity Financial, Inc.	$ 17,355	$ 12,086	$ 12,183	$ 10,649	$ 8,462	$ 9,983	$ 10,645	$ 3,121	$ 52,273	$ 32,211	$ 29,224