Valley Strong Credit Union Mortgage Rates, Fees & InfoBakersfield, CA
Tax ID: 95-1652797
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewValley Strong Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Valley Strong Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bakersfield, Los Angeles, Visalia, San Luis Obispo, and Santa Maria among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)
Valley Strong Credit Union 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. Valley Strong Credit Union 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.23%||3/19/23|
|30 Year Conventional Refi||6.24%||3/19/23|
|30 Year Cash-out Refi||6.29%||3/19/23|
|15 Year Conventional Purchase||6.49%||3/19/23|
|15 Year Conventional Refi||5.80%||3/19/23|
|15 Year Cash-out Refi||5.80%||3/19/23|
|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.|
Origination Dollar Volume (All Markets)$297,630,000
Valley Strong Credit Union's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.32%.
Relative Fees (Closing Costs)
Valley Strong Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,954.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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|
|BAKERSFIELD, CA (FHA|USDA|VA)||1,099||$251,035,000||$228,421||$3,940||3.15%|
|Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA)||23||$10,025,000||$435,870||$3,448||3.49%|
|VISALIA, CA (FHA|USDA|VA)||30||$7,410,000||$247,000||$3,161||3.16%|
|SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA)||11||$7,405,000||$673,182||$3,533||3.06%|
|SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA)||1||$4,905,000||$4,905,000||$0||3.25%|
|RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA)||13||$3,395,000||$261,154||$2,021||4.07%|
|CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA)||1||$2,265,000||$2,265,000||$3,588||2.75%|
|San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA)||7||$2,155,000||$307,857||$624||4.55%|
|SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA)||8||$2,090,000||$261,250||$2,019||3.67%|
|OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA)||2||$1,330,000||$665,000||$1,647||2.75%|
|SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA)||8||$1,280,000||$160,000||$263||5.38%|
|STOCKTON, CA (FHA|USDA|VA)||5||$1,135,000||$227,000||$1,924||3.20%|
|VALLEJO, CA (FHA|USDA|VA)||3||$1,015,000||$338,333||$1,802||2.96%|
|SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA)||2||$470,000||$235,000||$588||4.00%|
|LUBBOCK, TX (FHA|USDA|VA)||1||$365,000||$365,000||$3,580||2.88%|
|AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA)||1||$235,000||$235,000||$3,328||2.25%|
|HANFORD-CORCORAN, CA (FHA|USDA|VA)||1||$235,000||$235,000||$0||2.63%|
|MODESTO, CA (FHA|USDA|VA)||2||$210,000||$105,000||$300||5.50%|
|Minot, ND (FHA|USDA|VA)||2||$210,000||$105,000||$934||3.25%|
|Elko, NV (FHA|USDA|VA)||1||$115,000||$115,000||$950||5.00%|
|CHICO, CA (FHA|USDA|VA)||1||$95,000||$95,000||$175||5.00%|
|SANTA ROSA-PETALUMA, CA (FHA|USDA|VA)||1||$85,000||$85,000||$175||6.00%|
|Outside of Metro Areas||1||$85,000||$85,000||$422||2.63%|
|FRESNO, CA (FHA|USDA|VA)||1||$55,000||$55,000||$600||5.00%|
|SALINAS, CA (FHA|USDA|VA)||1||$25,000||$25,000||$175||4.00%|
We use machine learning to identify the top lenders compared against VALLEY STRONG CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Valley Strong Credit Union's most frequently originated type of loan was Conventional, with 1,226 originations.
For 2021, Valley Strong Credit Union's most frequently cited loan purpose was Cash Out Refi, with 384 originations. The 2nd most popular reason was Refi, with 310 originations.
For 2021, Valley Strong Credit Union's most frequently cited loan duration was 30 Year, with 419 originations. The 2nd most popular length was 15 Year, with 321 originations.
Origination Fees/Closing Costs
Valley Strong Credit Union's average total fees were $4,954, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 505 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, Valley Strong Credit Union's average interest rate for loans was 2.83%, while their most frequently originated rate bucket for loans was 2.5-3%, with 456 originations.
2021 saw Valley Strong Credit Union place emphasis on $200k-400k loans with 389 originations, totaling $105,055,000 in origination value.
Valley Strong Credit Union lent most frequently to those with incomes in the $100k-150k range, with 285 originations. The second most popular income band? $50k-75k, with 244 originations.
Applicant Debt to Income Ratio
Valley Strong Credit Union lent most frequently to those with DTI ratios of 20-30%, with 259 originations. The next most common DTI ratio? 30-36%, with 206 originations.
Approval RatesTotal approvals of all applications
Valley Strong Credit Union has an average approval rate.
Pick RateApprovals leading to origination
Valley Strong Credit Union has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|