Valley Strong Credit Union Mortgage Rates, Fees & Info

Bakersfield, CA

LEI: 5493006MA7WP1WL8U431

Tax ID: 95-1652797

5 stars - Updated: 11/17/24 - out of 5 stars, based on 25 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Valley Strong Credit Union is a smaller credit union specializing in Home Purchase loans. Valley Strong Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bakersfield, Los Angeles, Stockton, San Luis Obispo, and Visalia among others. We have data for 17 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 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 5.28% 11/17/24
    30 Year Conventional Refi 5.78% 11/17/24
    30 Year Cash-out Refi 5.84% 11/17/24
    15 Year Conventional Purchase 6.06% 11/17/24
    15 Year Conventional Refi 5.65% 11/17/24
    15 Year Cash-out Refi 5.65% 11/17/24
    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.

    Valley Strong Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Valley Strong Credit Union. 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

    650

    Origination Dollar Volume (All Markets)

    $110,490,000

    Awards

    VALLEY STRONG CREDIT UNION 30 Year Conventional Loans silver VALLEY STRONG CREDIT UNION 30 Year Conventional Loans gold VALLEY STRONG CREDIT UNION 30 Year Conventional Loans gold
    Show all (3) awards

    Relative Rate

    Valley Strong Credit Union's average 30 year fixed mortgage rate was 5.75%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.73%.

    Relative Fees (Closing Costs)

    Valley Strong Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,187.

    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 $9,089.

    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
    BAKERSFIELD, CA (FHA|USDA|VA) 510 $75,480,000 $148,000 $1,833 7.68%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 9 $10,015,000 $1,112,778 $9,987 5.99%
    STOCKTON, CA (FHA|USDA|VA) 60 $7,520,000 $125,333 $1,025 7.68%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 7 $5,365,000 $766,429 $8,213 5.61%
    VISALIA, CA (FHA|USDA|VA) 25 $2,835,000 $113,400 $1,031 7.92%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 3 $2,045,000 $681,667 $5,011 6.08%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 6 $1,620,000 $270,000 $1,721 7.06%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 5 $1,325,000 $265,000 $2,204 6.43%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $1,125,000 $1,125,000 $10,084 6.50%
    VALLEJO, CA (FHA|USDA|VA) 11 $1,015,000 $92,273 $948 7.50%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $585,000 $585,000 $9,330 5.25%
    FRESNO, CA (FHA|USDA|VA) 4 $570,000 $142,500 $1,212 8.06%
    SALINAS, CA (FHA|USDA|VA) 1 $505,000 $505,000 $3,041 7.13%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $205,000 $205,000 $3,419 5.50%
    MODESTO, CA (FHA|USDA|VA) 3 $155,000 $51,667 $375 7.33%
    MADERA, CA (FHA|USDA|VA) 2 $80,000 $40,000 $305 9.19%
    Outside of Metro Areas 1 $45,000 $45,000 $595 7.00%
    Valley Strong Credit Union's top markets include Bakersfield, Los Angeles, Stockton, San Luis Obispo, and Visalia among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)

    • Similar Lenders

    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.

    SAFE 1 CREDIT UNION
    Similarity Rank: 24
    AltaOne Federal Credit Union
    Similarity Rank: 55
    Educational Employees Credit Union
    Similarity Rank: 66
    Los Angeles Federal Credit Union
    Similarity Rank: 72
    VALLEY STRONG CREDIT UNION
    Similarity Rank: 136
    LBS FINANCIAL
    Similarity Rank: 258
    Water and Power Community Credit Union
    Similarity Rank: 261
    INSPIRE HOME LOANS INC.
    Similarity Rank: 312
    SOUTHLAND CREDIT UNION
    Similarity Rank: 342
    FIRST ENTERTAINMENT
    Similarity Rank: 351

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 650 $110,490,000 $169,985 $1,890 7.61%

    For 2023, Valley Strong Credit Union's most frequently originated type of loan was Conventional, with 650 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 252 $16,090,000 $63,849 $336 7.85%
    Other 180 $11,610,000 $64,500 $411 8.53%
    Home Purchase 131 $63,385,000 $483,855 $6,841 6.02%
    Cash Out Refi 80 $15,130,000 $189,125 $1,813 7.61%
    Refi 7 $4,275,000 $610,714 $7,644 5.45%

    For 2023, Valley Strong Credit Union's most frequently cited loan purpose was Home Improvement, with 252 originations. The 2nd most popular reason was Other, with 180 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 253 $22,505,000 $88,953 $488 7.44%
    20 Year 140 $10,580,000 $75,571 $537 9.26%
    10 Year 123 $8,255,000 $67,114 $284 8.01%
    30 Year 121 $56,995,000 $471,033 $6,187 5.75%
    30+ year 11 $10,325,000 $938,636 $18,745 7.05%
    5 Year 2 $1,830,000 $915,000 $0 6.11%

    For 2023, Valley Strong Credit Union's most frequently cited loan duration was 15 Year, with 253 originations. The 2nd most popular length was 20 Year, with 140 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 517 $51,925,000 $100,435
    $1k-2k 39 $13,515,000 $346,538
    $5k+ 31 $20,895,000 $674,032
    $2k-3k 16 $6,040,000 $377,500
    $3k-4k 12 $5,570,000 $464,167
    $4k-5k 8 $3,330,000 $416,250

    Valley Strong Credit Union's average total fees were $6,187, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 517 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 259 $32,445,000 $125,270
    Over 8% 206 $15,740,000 $76,408
    5-6% 83 $35,955,000 $433,193
    7-8% 74 $11,740,000 $158,649
    4-5% 23 $10,485,000 $455,870
    3-4% 4 $3,730,000 $932,500
    2.5-3% 1 $395,000 $395,000

    During 2023, Valley Strong Credit Union's average interest rate for loans was 5.75%, while their most frequently originated rate bucket for loans was 6-7%, with 259 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 427 $22,655,000 $53,056 $369 8.10%
    $100k-200k 84 $10,750,000 $127,976 $1,166 7.89%
    $200k-400k 54 $16,350,000 $302,778 $5,042 6.02%
    $400k-600k 49 $23,995,000 $489,694 $6,597 5.95%
    $600k-1MM 21 $15,945,000 $759,286 $9,280 5.78%
    $1MM+ 15 $20,795,000 $1,386,333 $16,641 6.11%

    2023 saw Valley Strong Credit Union place emphasis on $100,000 or less loans with 427 originations, totaling $22,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 183 $26,465,000 $144,617 $1,620 7.65%
    $50k-75k 125 $7,805,000 $62,440 $643 7.92%
    $150k-250k 107 $24,855,000 $232,290 $2,698 7.40%
    $75k-100k 105 $9,175,000 $87,381 $1,021 8.04%
    $50k or less 63 $3,685,000 $58,492 $1,023 7.52%
    $250k+ 59 $34,215,000 $579,915 $6,616 6.75%

    Valley Strong Credit Union lent most frequently to those with incomes in the $100k-150k range, with 183 originations. The second most popular income band? $50k-75k, with 125 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 92 $14,780,000 $160,652 $2,297 7.34%
    20-30% 78 $14,780,000 $189,487 $2,232 7.26%
    49% 73 $12,645,000 $173,219 $2,082 7.98%
    48% 51 $7,355,000 $144,216 $1,377 8.29%
    46% 37 $4,465,000 $120,676 $1,291 7.68%
    43% 33 $8,615,000 $261,061 $3,701 7.52%
    <20% 29 $7,525,000 $259,483 $3,585 6.79%
    42% 29 $4,925,000 $169,828 $2,033 7.52%
    41% 28 $4,260,000 $152,143 $2,334 7.41%
    45% 28 $4,050,000 $144,643 $1,474 7.95%
    38% 28 $5,420,000 $193,571 $1,395 7.46%
    47% 27 $3,735,000 $138,333 $1,711 7.76%
    44% 26 $3,670,000 $141,154 $759 7.81%
    39% 24 $1,400,000 $58,333 $246 8.25%
    40% 23 $3,475,000 $151,087 $1,554 7.72%
    37% 21 $3,525,000 $167,857 $824 7.45%
    36% 15 $1,995,000 $133,000 $685 7.81%
    50-60% 3 $425,000 $141,667 $1,900 8.08%

    Valley Strong Credit Union lent most frequently to those with DTI ratios of 30-36%, with 92 originations. The next most common DTI ratio? 20-30%, with 78 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 396 $59,500,000 $150,253 $1,614 7.62%
    Not provided 167 $30,465,000 $182,425 $2,536 7.64%
    Asian 40 $10,900,000 $272,500 $2,365 7.02%
    Asian Indian 6 $2,760,000 $460,000 $4,771 6.50%
    Not applicable 4 $2,440,000 $610,000 $0 6.03%
    Black 15 $1,455,000 $97,000 $870 8.88%
    Native Hawaiian or Islander 4 $1,050,000 $262,500 $2,363 7.81%
    American Indian 14 $1,030,000 $73,571 $306 7.68%
    Other Asian 1 $675,000 $675,000 $8,627 6.25%
    Filipino 2 $170,000 $85,000 $175 10.81%
    1 $45,000 $45,000 $150 11.88%

    Approval Rates

    Total approvals of all applications
    73.48%

    Valley Strong Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    66.31%

    Valley Strong Credit Union 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 650 $110,490,000 $169,985

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    650 $110,490,000 $169,985

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 101 $10,885,000 $107,772 $983 8.06%
    40-60% 33 $11,925,000 $361,364 $5,476 6.05%
    60-80% 57 $28,235,000 $495,351 $6,353 5.95%
    80-100% 69 $38,555,000 $558,768 $7,346 6.01%
    Under 20% 390 $20,890,000 $53,564 $314 8.16%