Grand Valley Bank Mortgage Rates, Fees & Info

Heber, UT

LEI: 5493002HQPD3K5EOQP52

Tax ID: 84-0920461

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Grand Valley Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Grand Valley Bank has a high proportion of conventional loans. Their top markets by origination volume include: Grand Junction, Heber, Vernal, Boulder, and Salt Lake City among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

Grand Valley Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Grand Valley Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.50%	12/16/24
30 Year Conventional Refi	6.71%	12/16/24
30 Year Cash-out Refi	6.71%	12/16/24
15 Year Conventional Purchase	6.04%	12/16/24
15 Year Conventional Refi	5.86%	12/16/24
15 Year Cash-out Refi	5.86%	12/16/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Grand Valley Bank Mortgage Calculator

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This is not an official calculator from Grand Valley Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

126

Origination Dollar Volume (All Markets)

$41,320,000

Employee count

Awards

Grand Valley Bank 30 Year Conventional Loans gold

Show all (2) awards

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
GRAND JUNCTION, CO (FHA\|USDA\|VA)	70	$21,410,000	$305,857	$2,852	2.82%
Heber, UT (FHA\|USDA\|VA)	12	$7,020,000	$585,000	$5,777	3.49%
Vernal, UT (FHA\|USDA\|VA)	26	$6,410,000	$246,538	$2,579	4.15%
BOULDER, CO (FHA\|USDA\|VA)	1	$2,005,000	$2,005,000	$12,794	4.28%
SALT LAKE CITY, UT (FHA\|USDA\|VA)	3	$1,085,000	$361,667	$5,782	3.92%
Montrose, CO (FHA\|USDA\|VA)	3	$895,000	$298,333	$2,055	2.79%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	3	$635,000	$211,667	$2,310	2.25%
Outside of Metro Areas	3	$465,000	$155,000	$3,047	3.88%
IDAHO FALLS, ID (FHA\|USDA\|VA)	1	$375,000	$375,000	$2,764	2.13%
DENVER-AURORA-LAKEWOOD, CO (FHA\|USDA\|VA)	1	$355,000	$355,000	$1,704	2.25%
Durango, CO (FHA\|USDA\|VA)	1	$335,000	$335,000	$2,579	2.99%
Russellville, AR (FHA\|USDA\|VA)	1	$175,000	$175,000	$1,726	3.49%
ST. GEORGE, UT (FHA\|USDA\|VA)	1	$155,000	$155,000	$2,939	4.00%

Grand Valley Bank's top markets include Grand Junction, Heber, Vernal, Boulder, and Salt Lake City among others.

Their top states include:

Colorado (FHA|USDA|VA)

Utah (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Idaho (FHA|USDA|VA)

Arkansas (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Grand Valley Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Grand Valley Bank
Similarity Rank: 182

Ent Credit Union
Similarity Rank: 187

COLORAMO
Similarity Rank: 284

CREDIT UNION OF COLORADO, A FEDERAL CREDIT UNION
Similarity Rank: 504

Alpine Bank
Similarity Rank: 645

GERSHMAN INVESTMENT CORP.
Similarity Rank: 1340

Bank of Colorado
Similarity Rank: 1764

UNIVERSAL LENDING CORPORATION
Similarity Rank: 4758

VILLAGE CAPITAL MORTGAGE
Similarity Rank: 5016

CLEARPATH LENDING
Similarity Rank: 5250

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	126	$41,320,000	$327,937	$3,123	3.21%

For 2021, Grand Valley Bank's most frequently originated type of loan was Conventional, with 126 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	47	$16,995,000	$361,596	$3,568	3.48%
Refi	45	$14,355,000	$319,000	$2,936	3.22%
Cash Out Refi	32	$9,890,000	$309,063	$2,927	2.70%
Home Improvement	1	$55,000	$55,000	$230	4.50%
Other	1	$25,000	$25,000	$0	6.00%

For 2021, Grand Valley Bank's most frequently cited loan purpose was Home Purchase, with 47 originations. The 2nd most popular reason was Refi, with 45 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	75	$23,315,000	$310,867	$3,191	2.86%
15 Year	22	$5,300,000	$240,909	$2,544	2.42%
Other	14	$8,280,000	$591,429	$4,868	4.62%
20 Year	13	$3,885,000	$298,846	$2,258	4.87%
10 Year	1	$515,000	$515,000	$0	4.50%
5 Year	1	$25,000	$25,000	$0	6.00%

For 2021, Grand Valley Bank's most frequently cited loan duration was 30 Year, with 75 originations. The 2nd most popular length was 15 Year, with 22 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	71	$18,935,000	$266,690
$1k-2k	11	$2,025,000	$184,091
$2k-3k	10	$3,800,000	$380,000
$3k-4k	6	$2,050,000	$341,667
$4k-5k	4	$1,380,000	$345,000
$5k+	4	$4,090,000	$1,022,500

Grand Valley Bank's average total fees were $3,191, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 71 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	50	$15,050,000	$301,000
<2.5%	34	$9,140,000	$268,824
3-4%	19	$7,775,000	$409,211
5-6%	14	$3,540,000	$252,857
4-5%	8	$5,440,000	$680,000

During 2021, Grand Valley Bank's average interest rate for loans was 2.86%, while their most frequently originated rate bucket for loans was 2.5-3%, with 50 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	62	$18,640,000	$300,645	$3,206	2.94%
$100k-200k	28	$4,210,000	$150,357	$2,264	3.09%
$400k-600k	18	$8,640,000	$480,000	$3,679	2.96%
$100,000 or less	12	$710,000	$59,167	$1,289	4.69%
$1MM+	5	$8,305,000	$1,661,000	$12,673	4.61%
$600k-1MM	1	$815,000	$815,000	$5,775	3.49%

2021 saw Grand Valley Bank place emphasis on $200k-400k loans with 62 originations, totaling $18,640,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	25	$5,785,000	$231,400	$3,235	3.24%
$75k-100k	25	$7,505,000	$300,200	$3,066	2.82%
$50k or less	23	$4,485,000	$195,000	$2,410	3.28%
$100k-150k	22	$7,140,000	$324,545	$3,467	3.01%
$150k-250k	12	$4,080,000	$340,000	$2,881	2.63%
$250k+	9	$6,525,000	$725,000	$5,467	3.85%

Grand Valley Bank lent most frequently to those with incomes in the $50k-75k range, with 25 originations. The second most popular income band? $75k-100k, with 25 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	31	$9,115,000	$294,032	$2,881	3.06%
30-36%	26	$8,080,000	$310,769	$2,618	3.12%
<20%	17	$3,885,000	$228,529	$2,661	3.41%
44%	5	$1,155,000	$231,000	$2,870	2.72%
37%	4	$1,210,000	$302,500	$3,753	2.65%
45%	4	$2,040,000	$510,000	$7,237	3.25%
39%	4	$1,420,000	$355,000	$3,217	2.93%
36%	4	$890,000	$222,500	$3,451	3.09%
48%	3	$925,000	$308,333	$3,483	2.54%
38%	3	$705,000	$235,000	$3,447	2.46%
41%	2	$770,000	$385,000	$3,588	2.75%
42%	2	$600,000	$300,000	$2,164	2.56%
43%	2	$830,000	$415,000	$3,492	2.81%
47%	2	$580,000	$290,000	$2,354	2.25%
49%	1	$185,000	$185,000	$1,891	2.99%
40%	1	$75,000	$75,000	$1,724	2.38%
46%	1	$185,000	$185,000	$1,994	2.88%

Grand Valley Bank lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? 30-36%, with 26 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	95	$29,235,000	$307,737	$3,133	3.14%
Not provided	19	$5,775,000	$303,947	$3,208	2.86%
Not applicable	9	$5,435,000	$603,889	$0	4.77%
American Indian	2	$480,000	$240,000	$2,208	3.12%
Other Asian	1	$395,000	$395,000	$2,499	3.00%

Approval Rates

Total approvals of all applications
93.38%

Grand Valley Bank has an average approval rate.

Pick Rate

Approvals leading to origination
89.68%

Grand Valley Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	126	$41,320,000	$327,937

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	126	$41,320,000	$327,937

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	18	$3,100,000	$172,222	$2,568	3.17%
40-60%	44	$13,190,000	$299,773	$3,010	2.98%
60-80%	45	$18,575,000	$412,778	$3,460	3.43%
80-100%	17	$6,205,000	$365,000	$3,293	3.19%
Under 20%	2	$250,000	$125,000	$3,003	4.19%

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
Greentree & Associates	Conventional home mortgage	Closing on a mortgage	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Grand Valley Bank	121 West Main Vernal, UT 84078	Full Service B&M	$28,397
Grand Valley Bank	106 Main St Collbran, CO 81624	Full Service B&M	$38,341
Grand Valley Bank	1225 Deer Valley Drive Park City, UT 84060	Full Service B&M	$58,761
Grand Valley Bank	2 South Main Street Heber City, UT 84032	Full Service B&M	$45,170
Grand Valley Bank	452 South Maple Fruita, CO 81521	Full Service B&M	$60,365
Grand Valley Bank	570 25 Road Grand Junction, CO 81505	Full Service B&M	$58,531
Grand Valley Bank	600 W 8th St Palisade, CO 81526	Full Service B&M	$47,539
Grand Valley Bank	92 W Main St Midway, UT 84049	Full Service B&M	$28,429
Grand Valley Bank	925 North 7th Street Grand Junction, CO 81501	Full Service B&M	$127,206

For 2021, Grand Valley Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$16,791
Net interest income	$15,914
Total noninterest income	$2,318
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$456
Trading account gains and fees	$0
Additional Noninterest Income	$1,862
Pre-tax net operating income	$6,556
Securities gains (or losses, -)	$16
Income before extraordinary items	$5,509
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$5,509
Minority interest net income	$0
Net income	$5,509
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$5,495

Grand Valley Bank's gross interest income from loans was $16,791,000.
Grand Valley Bank's net interest income from loans was $15,914,000.
Grand Valley Bank's fee based income from loans was $456,000.
Grand Valley Bank's net income from loans was $5,509,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$877
Provision for credit losses	$460
Total noninterest expense	$11,216
Salaries and employee benefits	$7,494
Premises and equipment expense	$807
Additional noninterest expense	$2,915
Applicable income taxes	$1,063
Net charge-offs	$-20
Cash dividends	$2,087

Grand Valley Bank's interest expense for loans was $877,000.
Grand Valley Bank's payroll and benefits expense were $7,494,000.
Grand Valley Bank's property, plant and equipment expenses $807,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$525,899
Deposits held in domestic offices	$525,899
Deposits by Individuals, partnerships, and corporations	$492,629
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$33,270
Deposits by Commercial banks and other depository institutions in U.S.	$0
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$253,235
Demand deposits	$197,216
Nontransaction accounts	$272,664
Money market deposit accounts (MMDAs)	$44,912
Other savings deposits (excluding MMDAs)	$155,033
Total time deposits	$72,718
Total time and savings deposits	$328,683
Noninterest-bearing deposits	$197,216
Interest-bearing deposits	$328,683
Retail deposits	$510,128
IRAs and Keogh plan accounts	$10,340
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$582,595
Cash & Balances due from depository institutions	$20,017
Interest-bearing balances	$15,208
Total securities	$324,385
Federal funds sold & reverse repurchase	$0
Net loans and leases	$223,085
Loan and leases loss allowance	$4,098
Trading account assets	$0
Bank premises and fixed assets	$9,229
Other real estate owned	$103
Goodwill and other intangibles	$1,249
All other assets	$4,527

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$582,595
Total Liabilities	$528,339
Total deposits	$525,899
Interest-bearing deposits	$328,683
Deposits held in domestic offices	$525,899
% insured (estimated)	$76
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$2,440

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$223,085
Loan and leases loss allowance	$4,098
Total loans and leases (domestic)	$227,183
All real estate loans	$200,962
Real estate loans in domestic offices	$200,962
Construction and development loans	$37,019
Residential 1-4 family construction	$16,704
Other construction, all land development and other land	$20,315
Loans secured by nonfarm nonresidential properties	$58,312
Nonfarm nonresidential secured by owner-occupied properties	$43,116
Commercial real estate & other non-farm, non-residential	$15,196
Multifamily residential real estate	$4,748
1-4 family residential loans	$47,665
Farmland loans	$53,218
Loans held in foreign offices	$0
Farm loans	$19,481
Commercial and industrial loans	$6,325
To non-U.S. addressees	$0
Loans to individuals	$1,243
Credit card loans	$0
Related Plans	$77
Consumer Auto Loans	$465
Other loans to individuals	$701
All other loans & leases	$10
Loans to foreign governments and official institutions	$0
Other loans	$10
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$0
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$87
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Grand Valley Bank had $223,085,000 of loans outstanding in 2021. $200,962,000 of loans were in real estate loans. $37,019,000 of loans were in development loans. $4,748,000 of loans were in multifamily mortgage loans. $47,665,000 of loans were in 1-4 family mortgage loans. $19,481,000 of loans were in farm loans. $0 of loans were in credit card loans. $465,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	151	$35,940	$238,013
Nonfarm, nonresidential loans - <$100k	21	$972	$46,286
Nonfarm, nonresidential loans - $100-250k	61	$7,917	$129,787
Nonfarm, nonresidential loans - $250k-1MM	69	$27,051	$392,043
Commercial & Industrial, US addressed loans - <$1MM	127	$6,325	$49,803
Commercial & Industrial, US addressed loans - <$100k	98	$2,079	$21,214
Commercial & Industrial, US addressed loans - $100-250k	19	$2,291	$120,579
Commercial & Industrial, US addressed loans - $250k-1MM	10	$1,955	$195,500
Farmland loans - <$1MM	115	$20,292	$176,452
Farmland loans - <$100k	29	$1,110	$38,276
Farmland loans - $100-250k	42	$5,839	$139,024
Farmland loans - $250k-1MM	44	$13,343	$303,250
Agriculture operations loans - <$1MM	223	$10,922	$48,978
Agriculture operations loans - <$100k	162	$3,462	$21,370
Agriculture operations loans - $100-250k	40	$3,649	$91,225
Agriculture operations loans - $250k-1MM	21	$3,811	$181,476