Grand Valley Bank Mortgage Rates, Fees & Info
Heber, UTLEI: 5493002HQPD3K5EOQP52
Tax ID: 84-0920461
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Mortgage Data
Review & Overview
Grand Valley Bank is a smaller bank specializing in Home Purchase loans. Grand Valley Bank has a high proportion of conventional loans. Their top markets by origination volume include: Grand Junction, Vernal, Heber, Salt Lake City, and Ogden among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Grand Valley Bank has an 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 an average 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.
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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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
72Origination Dollar Volume (All Markets)
$25,710,000Awards
Grand Valley Bank - 2022
Grand Valley Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 40 | $12,820,000 | $320,500 | $4,260 | 4.79% |
| Vernal, UT (FHA|USDA|VA) | 9 | $4,275,000 | $475,000 | $4,040 | 4.65% |
| Heber, UT (FHA|USDA|VA) | 4 | $3,060,000 | $765,000 | $8,984 | 4.50% |
| Outside of Metro Areas | 5 | $1,705,000 | $341,000 | $5,536 | 4.45% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 4 | $1,200,000 | $300,000 | $4,845 | 5.44% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $2,738 | 3.75% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $78,230 | 6.63% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $5,428 | 4.94% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,207 | 5.50% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,670 | 3.75% |
| Montrose, CO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,392 | 7.00% |
| Craig, CO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,773 | 6.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,920 | 5.00% |
| Harrison, AR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,570 | 5.63% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 72 | $25,710,000 | $357,083 | $5,988 | 4.84% |
For 2022, Grand Valley Bank's most frequently originated type of loan was Conventional, with 72 originations.
Loan Reason
For 2022, Grand Valley Bank's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Refi, with 15 originations.
Loan Duration/Length
For 2022, Grand Valley Bank's most frequently cited loan duration was 30 Year, with 45 originations. The 2nd most popular length was Other, with 10 originations.
Origination Fees/Closing Costs
Grand Valley Bank's average total fees were $6,486, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 15 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 22 | $9,140,000 | $415,455 |
| 3-4% | 21 | $7,165,000 | $341,190 |
| 4-5% | 21 | $7,355,000 | $350,238 |
| 6-7% | 8 | $2,050,000 | $256,250 |
During 2022, Grand Valley Bank's average interest rate for loans was 4.73%, while their most frequently originated rate bucket for loans was 5-6%, with 22 originations.
Loan Sizing
2022 saw Grand Valley Bank place emphasis on $200k-400k loans with 26 originations, totaling $7,450,000 in origination value.
Applicant Income
Grand Valley Bank lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $50k or less, with 13 originations.
Applicant Debt to Income Ratio
Grand Valley Bank lent most frequently to those with DTI ratios of 20-30%, with 21 originations. The next most common DTI ratio? 30-36%, with 11 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.71%
Grand Valley Bank has an average approval rate.
Pick Rate
Approvals leading to origination84.72%
Grand Valley Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 72 | $25,710,000 | $357,083 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| GUARANTEED RATE INC. | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| GUARANTEED RATE INC. | FHA mortgage | Trouble during payment process | 1 | 50.0% |