Minnesota Valley Federal Credit Union Mortgage Rates, Fees & Info
Mankato, MNLEI: 254900M984EPKRAPEO90
Tax ID: 41-0752677
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Mortgage Data
Review & Overview
Minnesota Valley Federal Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. Minnesota Valley Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Mankato, Minneapolis, Brainerd, New Ulm, and Faribault among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Minnesota Valley Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
384Origination Dollar Volume (All Markets)
$67,260,000Top 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 |
|---|---|---|---|---|---|
| MANKATO, MN (FHA|USDA|VA) | 292 | $50,510,000 | $172,979 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 42 | $8,780,000 | $209,048 | $0 | 0.00% |
| Outside of Metro Areas | 30 | $4,800,000 | $160,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 6 | $1,080,000 | $180,000 | $0 | 0.00% |
| New Ulm, MN (FHA|USDA|VA) | 5 | $715,000 | $143,000 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Fairmont, MN (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 0.00% |
| Red Wing, MN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Owatonna, MN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Albert Lea, MN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 384 | $67,260,000 | $175,156 | $0 | 0.00% |
For 2021, Minnesota Valley Federal Credit Union's most frequently originated type of loan was Conventional, with 384 originations.
Loan Reason
For 2021, Minnesota Valley Federal Credit Union's most frequently cited loan purpose was Refi, with 155 originations. The 2nd most popular reason was Cash Out Refi, with 121 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 384 | $67,260,000 | $175,156 | $0 | 0.00% |
For 2021, Minnesota Valley Federal Credit Union's most frequently cited loan duration was Other, with 384 originations.
Loan Sizing
2021 saw Minnesota Valley Federal Credit Union place emphasis on $100k-200k loans with 201 originations, totaling $30,285,000 in origination value.
Applicant Income
Minnesota Valley Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 114 originations. The second most popular income band? $100k-150k, with 105 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 384 | $67,260,000 | $175,156 | $0 | 0.00% |
Minnesota Valley Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 384 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 291 | $50,795,000 | $174,553 | $0 | 0.00% |
| Not provided | 93 | $16,465,000 | $177,043 | $0 | 0.00% |
Approval Rates
Total approvals of all applications95.44%
Minnesota Valley Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination96.35%
Minnesota Valley Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 384 | $67,260,000 | $175,156 |