Farm Credit Of The Virginias Aca Mortgage Rates, Fees & Info

Staunton, VA

LEI: 5493002RKLPCGAVLNC16

Tax ID: 54-0756781

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Farm Credit Of The Virginias Aca is a smaller mortgage company specializing in Refi and Home Purchase loans. Farm Credit Of The Virginias Aca has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Kingsport, Charleston, Danville, and Staunton among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Farm Credit Of The Virginias Aca 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. Farm Credit Of The Virginias Aca 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 8.13% 5/4/24
    30 Year Conventional Refi 8.22% 5/4/24
    30 Year Cash-out Refi 8.11% 5/4/24
    15 Year Conventional Purchase 7.80% 5/4/24
    15 Year Conventional Refi 8.15% 5/4/24
    15 Year Cash-out Refi 8.15% 5/4/24
    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.

    Farm Credit Of The Virginias Aca Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Farm Credit Of The Virginias Aca. 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

    193

    Origination Dollar Volume (All Markets)

    $53,745,000

    Awards

    Farm Credit of the Virginias ACA 30 Year Conventional Loans bronze
    Show all (1) 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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 25 $17,525,000 $701,000 $5,047 4.15%
    Outside of Metro Areas 64 $14,420,000 $225,313 $3,691 4.33%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 15 $3,175,000 $211,667 $3,932 4.76%
    CHARLESTON, WV (FHA|USDA|VA) 17 $3,005,000 $176,765 $2,681 4.05%
    Danville, VA (FHA|USDA|VA) 12 $2,390,000 $199,167 $3,075 4.15%
    STAUNTON, VA (FHA|USDA|VA) 6 $2,180,000 $363,333 $2,688 4.35%
    HARRISONBURG, VA (FHA|USDA|VA) 7 $2,175,000 $310,714 $4,478 4.55%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 6 $1,760,000 $293,333 $4,058 4.48%
    MORGANTOWN, WV (FHA|USDA|VA) 6 $1,410,000 $235,000 $4,209 4.69%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 3 $735,000 $245,000 $3,941 3.81%
    ROANOKE, VA (FHA|USDA|VA) 5 $665,000 $133,000 $3,954 4.90%
    Clarksburg, WV (FHA|USDA|VA) 4 $660,000 $165,000 $1,946 4.05%
    Point Pleasant, WV-OH (FHA|USDA|VA) 3 $645,000 $215,000 $5,173 4.42%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 3 $585,000 $195,000 $2,885 4.92%
    Elkins, WV (FHA|USDA|VA) 3 $505,000 $168,333 $3,333 4.17%
    PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 2 $440,000 $220,000 $4,107 5.25%
    Bluefield, WV-VA (FHA|USDA|VA) 3 $405,000 $135,000 $2,984 5.13%
    WINCHESTER, VA-WV (FHA|USDA|VA) 3 $345,000 $115,000 $1,183 4.00%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 3 $335,000 $111,667 $3,826 5.08%
    Fairmont, WV (FHA|USDA|VA) 1 $195,000 $195,000 $3,490 3.75%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $125,000 $125,000 $250 3.88%
    BECKLEY, WV (FHA|USDA|VA) 1 $65,000 $65,000 $3,114 4.50%
    Farm Credit Of The Virginias Aca's top markets include Washington, Kingsport, Charleston, Danville, and Staunton among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

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

    Poli Mortgage Group, Inc.
    Similarity Rank: 1100
    Beeline Loans, Inc.
    Similarity Rank: 1505
    Kwik Mortgage Corporation
    Similarity Rank: 1602
    IDB Global Federal Credit Union
    Similarity Rank: 1782
    VILLAGE BANK MORTGAGE CORPORATION
    Similarity Rank: 1920
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2052
    Credence Funding Corporation
    Similarity Rank: 2400
    ACNB Bank
    Similarity Rank: 2450
    UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION,INC.
    Similarity Rank: 2842
    U S WIDE FINANCIAL LLC
    Similarity Rank: 2964

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 193 $53,745,000 $278,472 $3,701 4.36%

    For 2020, Farm Credit Of The Virginias Aca's most frequently originated type of loan was Conventional, with 193 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 112 $31,760,000 $283,571 $3,046 4.29%
    Home Purchase 74 $20,700,000 $279,730 $4,670 4.50%
    Cash Out Refi 4 $1,000,000 $250,000 $4,825 4.06%
    Home Improvement 2 $200,000 $100,000 $2,917 4.06%
    Other 1 $85,000 $85,000 $1,065 4.50%

    For 2020, Farm Credit Of The Virginias Aca's most frequently cited loan purpose was Refi, with 112 originations. The 2nd most popular reason was Home Purchase, with 74 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 119 $39,825,000 $334,664 $3,931 4.41%
    20 Year 36 $6,760,000 $187,778 $3,693 4.26%
    15 Year 22 $4,790,000 $217,727 $2,962 4.09%
    Other 13 $2,195,000 $168,846 $3,575 4.48%
    5 Year 2 $120,000 $60,000 $845 5.13%
    10 Year 1 $55,000 $55,000 $591 5.00%

    For 2020, Farm Credit Of The Virginias Aca's most frequently cited loan duration was 30 Year, with 119 originations. The 2nd most popular length was 20 Year, with 36 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 56 $10,490,000 $187,321
    $<1k 53 $15,765,000 $297,453
    $1k-2k 51 $13,185,000 $258,529
    $3k-4k 15 $4,575,000 $305,000
    $4k-5k 11 $5,645,000 $513,182
    $5k+ 5 $3,625,000 $725,000

    Farm Credit Of The Virginias Aca's average total fees were $3,931, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 56 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 86 $20,580,000 $239,302
    3-4% 75 $26,485,000 $353,133
    5-6% 28 $6,130,000 $218,929
    2.5-3% 3 $525,000 $175,000
    6-7% 1 $25,000 $25,000

    During 2020, Farm Credit Of The Virginias Aca's average interest rate for loans was 4.41%, while their most frequently originated rate bucket for loans was 4-5%, with 86 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 64 $9,590,000 $149,844 $3,290 4.33%
    $200k-400k 62 $16,860,000 $271,935 $3,735 4.41%
    $100,000 or less 30 $1,870,000 $62,333 $2,769 4.59%
    $400k-600k 18 $8,460,000 $470,000 $3,703 4.22%
    $600k-1MM 15 $11,075,000 $738,333 $6,379 4.17%
    $1MM+ 4 $5,890,000 $1,472,500 $6,688 3.68%

    2020 saw Farm Credit Of The Virginias Aca place emphasis on $100k-200k loans with 64 originations, totaling $9,590,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 58 $13,720,000 $236,552 $3,428 4.36%
    $150k-250k 29 $9,985,000 $344,310 $3,785 4.22%
    $50k-75k 29 $4,605,000 $158,793 $3,429 4.52%
    $75k-100k 28 $5,510,000 $196,786 $3,273 4.46%
    $250k+ 26 $17,660,000 $679,231 $5,502 4.06%
    $50k or less 22 $2,240,000 $101,818 $2,975 4.57%

    Farm Credit Of The Virginias Aca lent most frequently to those with incomes in the $100k-150k range, with 58 originations. The second most popular income band? $150k-250k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 70 $17,700,000 $252,857 $3,133 4.39%
    <20% 43 $13,385,000 $311,279 $4,136 3.99%
    30-36% 39 $8,225,000 $210,897 $4,080 4.51%
    38% 8 $2,790,000 $348,750 $4,279 4.38%
    39% 7 $1,905,000 $272,143 $2,259 4.57%
    36% 7 $2,005,000 $286,429 $4,349 5.07%
    37% 5 $2,565,000 $513,000 $4,251 4.40%
    41% 4 $1,310,000 $327,500 $3,396 4.91%
    43% 2 $580,000 $290,000 $3,507 5.00%
    44% 1 $405,000 $405,000 $3,944 4.00%
    46% 1 $105,000 $105,000 $283 4.00%
    48% 1 $305,000 $305,000 $3,615 4.00%
    >60% 1 $185,000 $185,000 $250 4.63%

    Farm Credit Of The Virginias Aca lent most frequently to those with DTI ratios of 20-30%, with 70 originations. The next most common DTI ratio? <20%, with 43 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 185 $49,295,000 $266,459 $3,669 4.37%
    Not provided 6 $3,810,000 $635,000 $4,172 4.19%
    Asian Indian 1 $615,000 $615,000 $5,379 4.30%
    Not applicable 1 $25,000 $25,000 $5,025 4.13%

    Approval Rates

    Total approvals of all applications
    82.26%

    Farm Credit Of The Virginias Aca has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    67.88%

    Farm Credit Of The Virginias Aca has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 193 $53,745,000 $278,472

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 23 $3,135,000 $136,304
    Single Family (1-4 Units):Site-Built 170 $50,610,000 $297,706

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $1,855,000 $206,111 $3,304 4.30%
    40-60% 27 $5,995,000 $222,037 $2,686 4.38%
    60-80% 111 $34,205,000 $308,153 $4,147 4.32%
    80-100% 33 $10,035,000 $304,091 $3,761 4.40%
    Over 100% 1 $315,000 $315,000 $7,034 5.13%
    Under 20% 12 $1,340,000 $111,667 $1,779 4.56%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Franklin Credit Management Corporation Conventional home mortgage Struggling to pay mortgage 6 75.0%
    Franklin Credit Management Corporation Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 12.5%
    Franklin Credit Management Corporation Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 12.5%