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
  • 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 Home Purchase loans. Farm Credit Of The Virginias Aca has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Charlottesville, Staunton, Roanoke, and Morgantown among others. We have data for 20 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 relatively high 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 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

    165

    Origination Dollar Volume (All Markets)

    $49,775,000

    Awards

    Farm Credit of the Virginias ACA 30 Year Conventional Loans gold
    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) 28 $16,910,000 $603,929 $4,089 6.68%
    Outside of Metro Areas 43 $10,835,000 $251,977 $3,418 6.66%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 9 $3,475,000 $386,111 $4,850 6.98%
    STAUNTON, VA (FHA|USDA|VA) 9 $2,785,000 $309,444 $3,827 6.20%
    ROANOKE, VA (FHA|USDA|VA) 8 $2,240,000 $280,000 $5,306 7.12%
    MORGANTOWN, WV (FHA|USDA|VA) 7 $1,685,000 $240,714 $2,651 7.64%
    Danville, VA (FHA|USDA|VA) 10 $1,490,000 $149,000 $4,292 6.38%
    Bluefield, WV-VA (FHA|USDA|VA) 5 $1,405,000 $281,000 $3,446 6.25%
    CHARLESTON, WV (FHA|USDA|VA) 9 $1,315,000 $146,111 $3,508 6.76%
    HARRISONBURG, VA (FHA|USDA|VA) 6 $1,220,000 $203,333 $1,728 6.48%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 9 $1,175,000 $130,556 $2,430 7.15%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $800 7.50%
    LYNCHBURG, VA (FHA|USDA|VA) 4 $970,000 $242,500 $4,020 6.97%
    Point Pleasant, WV-OH (FHA|USDA|VA) 4 $950,000 $237,500 $4,088 5.76%
    WINCHESTER, VA-WV (FHA|USDA|VA) 2 $580,000 $290,000 $3,011 7.45%
    Clarksburg, WV (FHA|USDA|VA) 4 $560,000 $140,000 $3,822 5.69%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 2 $520,000 $260,000 $2,078 6.63%
    PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 2 $360,000 $180,000 $4,582 5.95%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 2 $230,000 $115,000 $2,959 7.63%
    BECKLEY, WV (FHA|USDA|VA) 1 $65,000 $65,000 $3,501 6.63%
    Farm Credit Of The Virginias Aca's top markets include Washington, Charlottesville, Staunton, Roanoke, and Morgantown among others.

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

    Summit Community Bank, Inc.
    Similarity Rank: 360
    Cedar Point Federal Credit Union
    Similarity Rank: 370
    IDB Global Federal Credit Union
    Similarity Rank: 1133
    Burke & Herbert Bank & Trust Company
    Similarity Rank: 1260
    MISSION MORTGAGE LLC
    Similarity Rank: 1390
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 1548
    Member Options, LLC
    Similarity Rank: 1687
    NATIONAL COOPERATIVE BANK, N.A.
    Similarity Rank: 2040
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 2106
    ANDREWS FEDERAL CREDIT UNION
    Similarity Rank: 2279

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 165 $49,775,000 $301,667 $3,647 6.70%

    For 2022, Farm Credit Of The Virginias Aca's most frequently originated type of loan was Conventional, with 165 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 117 $40,795,000 $348,675 $3,624 6.78%
    Refi 31 $6,375,000 $205,645 $4,094 6.27%
    Home Improvement 15 $2,105,000 $140,333 $2,918 7.15%
    Other 1 $205,000 $205,000 $4,295 5.25%
    Cash Out Refi 1 $295,000 $295,000 $2,737 5.00%

    For 2022, Farm Credit Of The Virginias Aca's most frequently cited loan purpose was Home Purchase, with 117 originations. The 2nd most popular reason was Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 98 $35,750,000 $364,796 $3,633 6.84%
    20 Year 26 $3,640,000 $140,000 $3,638 6.23%
    Other 21 $7,105,000 $338,333 $3,675 6.94%
    15 Year 17 $2,765,000 $162,647 $3,701 6.61%
    1 Year 1 $175,000 $175,000 $5,913 4.50%
    10 Year 1 $265,000 $265,000 $1,781 6.60%
    5 Year 1 $75,000 $75,000 $3,333 3.50%

    For 2022, Farm Credit Of The Virginias Aca's most frequently cited loan duration was 30 Year, with 98 originations. The 2nd most popular length was 20 Year, with 26 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 57 $20,375,000 $357,456
    $1k-2k 49 $8,995,000 $183,571
    $2k-3k 37 $8,115,000 $219,324
    $3k-4k 11 $2,405,000 $218,636
    $4k-5k 6 $3,390,000 $565,000
    $5k+ 5 $6,495,000 $1,299,000

    Farm Credit Of The Virginias Aca's average total fees were $3,633, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 57 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 44 $15,660,000 $355,909
    7-8% 40 $10,610,000 $265,250
    5-6% 30 $7,700,000 $256,667
    4-5% 25 $11,175,000 $447,000
    Over 8% 25 $4,555,000 $182,200
    3-4% 1 $75,000 $75,000

    During 2022, Farm Credit Of The Virginias Aca's average interest rate for loans was 6.84%, while their most frequently originated rate bucket for loans was 6-7%, with 44 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 59 $16,855,000 $285,678 $3,148 6.74%
    $100k-200k 47 $6,865,000 $146,064 $3,728 6.56%
    $100,000 or less 28 $1,810,000 $64,643 $3,010 7.08%
    $400k-600k 19 $9,295,000 $489,211 $3,723 6.51%
    $1MM+ 6 $9,980,000 $1,663,333 $9,338 6.03%
    $600k-1MM 6 $4,970,000 $828,333 $4,964 6.72%

    2022 saw Farm Credit Of The Virginias Aca place emphasis on $200k-400k loans with 59 originations, totaling $16,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 49 $12,035,000 $245,612 $3,528 6.80%
    $250k+ 29 $20,435,000 $704,655 $4,136 6.58%
    $50k-75k 27 $3,805,000 $140,926 $3,508 6.87%
    $75k-100k 26 $4,650,000 $178,846 $3,268 6.70%
    $150k-250k 25 $8,015,000 $320,600 $3,997 6.39%
    $50k or less 9 $835,000 $92,778 $3,258 6.78%

    Farm Credit Of The Virginias Aca lent most frequently to those with incomes in the $100k-150k range, with 49 originations. The second most popular income band? $250k+, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 61 $17,765,000 $291,230 $3,223 6.60%
    30-36% 35 $10,355,000 $295,857 $4,072 6.76%
    <20% 20 $4,270,000 $213,500 $3,146 5.98%
    39% 12 $3,410,000 $284,167 $4,012 7.02%
    37% 9 $1,925,000 $213,889 $3,389 6.86%
    50-60% 5 $4,755,000 $951,000 $9,562 7.19%
    38% 4 $1,350,000 $337,500 $2,409 7.36%
    41% 3 $865,000 $288,333 $2,757 6.87%
    36% 3 $1,305,000 $435,000 $6,634 7.50%
    40% 3 $1,215,000 $405,000 $5,863 6.63%
    46% 2 $670,000 $335,000 $857 8.25%
    47% 2 $620,000 $310,000 $2,661 6.13%
    43% 2 $230,000 $115,000 $1,575 7.50%
    >60% 2 $480,000 $240,000 $2,408 7.08%
    44% 1 $255,000 $255,000 $858 6.60%
    45% 1 $305,000 $305,000 $2,001 7.50%

    Farm Credit Of The Virginias Aca lent most frequently to those with DTI ratios of 20-30%, with 61 originations. The next most common DTI ratio? 30-36%, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 148 $41,720,000 $281,892 $3,758 6.71%
    Not provided 13 $6,965,000 $535,769 $2,650 6.46%
    Black 3 $675,000 $225,000 $1,798 7.08%
    Asian 1 $415,000 $415,000 $5,781 6.75%

    Approval Rates

    Total approvals of all applications
    86.25%

    Farm Credit Of The Virginias Aca has an average approval rate.

    Pick Rate

    Approvals leading to origination
    59.39%

    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 165 $49,775,000 $301,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    165 $49,775,000 $301,667

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $3,610,000 $200,556 $2,366 6.72%
    40-60% 40 $14,980,000 $374,500 $4,042 6.84%
    60-80% 77 $23,575,000 $306,169 $3,978 6.58%
    80-100% 20 $6,430,000 $321,500 $3,445 6.48%
    Under 20% 10 $1,180,000 $118,000 $2,230 7.43%