Minnesota Valley Federal Credit Union Mortgage Rates, Fees & Info

Mankato, MN

LEI: 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 Home Purchase and Cash Out Refi loans. Minnesota Valley Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Mankato, Minneapolis, New Ulm, Brainerd, and St. Cloud among others. We have data for 10 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

188

Origination Dollar Volume (All Markets)

$31,200,000

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
MANKATO, MN (FHA|USDA|VA) 146 $24,320,000 $166,575 $0 0.00%
Outside of Metro Areas 17 $2,595,000 $152,647 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 13 $2,425,000 $186,538 $0 0.00%
New Ulm, MN (FHA|USDA|VA) 6 $630,000 $105,000 $0 0.00%
Brainerd, MN (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
ST. CLOUD, MN (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
Willmar, MN (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Bemidji, MN (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Austin, MN (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Owatonna, MN (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Minnesota Valley Federal Credit Union's top markets include Mankato, Minneapolis, New Ulm, Brainerd, and St. Cloud among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 188 $31,200,000 $165,957 $0 0.00%

    For 2022, Minnesota Valley Federal Credit Union's most frequently originated type of loan was Conventional, with 188 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 96 $18,820,000 $196,042 $0 0.00%
    Cash Out Refi 65 $8,305,000 $127,769 $0 0.00%
    Refi 20 $3,700,000 $185,000 $0 0.00%
    Home Improvement 5 $225,000 $45,000 $0 0.00%
    Other 2 $150,000 $75,000 $0 0.00%

    For 2022, Minnesota Valley Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 96 originations. The 2nd most popular reason was Cash Out Refi, with 65 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 188 $31,200,000 $165,957 $0 0.00%

    For 2022, Minnesota Valley Federal Credit Union's most frequently cited loan duration was Other, with 188 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 71 $10,575,000 $148,944 $0 0.00%
    $100,000 or less 56 $2,890,000 $51,607 $0 0.00%
    $200k-400k 54 $14,430,000 $267,222 $0 0.00%
    $400k-600k 7 $3,305,000 $472,143 $0 0.00%

    2022 saw Minnesota Valley Federal Credit Union place emphasis on $100k-200k loans with 71 originations, totaling $10,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 54 $11,070,000 $205,000 $0 0.00%
    $50k-75k 50 $6,730,000 $134,600 $0 0.00%
    $50k or less 40 $4,660,000 $116,500 $0 0.00%
    $75k-100k 24 $4,890,000 $203,750 $0 0.00%
    $150k-250k 16 $3,250,000 $203,125 $0 0.00%
    $250k+ 2 $460,000 $230,000 $0 0.00%

    Minnesota Valley Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $50k-75k, with 50 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 188 $31,200,000 $165,957 $0 0.00%

    Minnesota Valley Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 188 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 165 $27,225,000 $165,000 $0 0.00%
    Not provided 21 $3,765,000 $179,286 $0 0.00%
    Black 1 $115,000 $115,000 $0 0.00%
    American Indian 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.03%

    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 origination
    97.34%

    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 188 $31,200,000 $165,957

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    188 $31,200,000 $165,957