Valley Strong Credit Union Mortgage Rates, Fees & Info

Bakersfield, CA

LEI: 5493006MA7WP1WL8U431

Tax ID: 95-1652797

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

Jump to:

  • 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

    Valley Strong Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. Valley Strong Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bakersfield, San Luis Obispo, Los Angeles, Visalia, and Sacramento among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Valley Strong Credit Union has an above 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 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 5.28% 12/16/24
    30 Year Conventional Refi 5.78% 12/16/24
    30 Year Cash-out Refi 5.84% 12/16/24
    15 Year Conventional Purchase 6.06% 12/16/24
    15 Year Conventional Refi 5.65% 12/16/24
    15 Year Cash-out Refi 5.65% 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.

    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

    1,352

    Origination Dollar Volume (All Markets)

    $263,550,000

    Awards

    VALLEY STRONG CREDIT UNION 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
    BAKERSFIELD, CA (FHA|USDA|VA) 1,283 $240,485,000 $187,440 $3,028 3.23%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 14 $6,920,000 $494,286 $3,466 2.68%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 16 $6,210,000 $388,125 $3,079 3.30%
    VISALIA, CA (FHA|USDA|VA) 14 $2,680,000 $191,429 $3,114 3.30%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 6 $1,890,000 $315,000 $2,947 2.96%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 4 $1,150,000 $287,500 $3,336 3.75%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $940,000 $470,000 $6,993 3.19%
    MADERA, CA (FHA|USDA|VA) 2 $730,000 $365,000 $4,655 3.63%
    FRESNO, CA (FHA|USDA|VA) 2 $550,000 $275,000 $2,947 2.50%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $525,000 $175,000 $3,947 4.08%
    Outside of Metro Areas 1 $455,000 $455,000 $3,247 2.38%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $430,000 $215,000 $2,983 2.69%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $330,000 $165,000 $3,069 2.44%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $255,000 $255,000 $3,221 2.75%
    Valley Strong Credit Union's top markets include Bakersfield, San Luis Obispo, Los Angeles, Visalia, and Sacramento among others.

    Their top states include:
  • California (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.

    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 363
    SAFE 1 CREDIT UNION
    Similarity Rank: 369
    AltaOne Federal Credit Union
    Similarity Rank: 666
    Christian Community Credit Union
    Similarity Rank: 716
    VALLEY STRONG CREDIT UNION
    Similarity Rank: 854
    WINNPOINTE CORPORATION
    Similarity Rank: 924
    CHOICE LENDING CORP.
    Similarity Rank: 1035
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 1053
    VICTORIA FINANCIAL CORP.
    Similarity Rank: 1184
    Educational Employees Credit Union
    Similarity Rank: 1200

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,352 $263,550,000 $194,933 $3,046 3.22%

    For 2020, Valley Strong Credit Union's most frequently originated type of loan was Conventional, with 1,352 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 484 $102,140,000 $211,033 $3,144 2.86%
    Cash Out Refi 414 $85,730,000 $207,077 $3,736 3.01%
    Home Purchase 189 $58,255,000 $308,228 $4,802 3.27%
    Home Improvement 187 $11,675,000 $62,433 $581 4.27%
    Other 78 $5,750,000 $73,718 $876 4.02%

    For 2020, Valley Strong Credit Union's most frequently cited loan purpose was Refi, with 484 originations. The 2nd most popular reason was Cash Out Refi, with 414 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 493 $94,155,000 $190,984 $2,977 2.88%
    30 Year 406 $110,410,000 $271,946 $3,941 3.17%
    10 Year 298 $22,000,000 $73,826 $1,032 3.78%
    20 Year 144 $29,160,000 $202,500 $3,737 3.34%
    30+ year 11 $7,825,000 $711,364 $16,051 3.86%

    For 2020, Valley Strong Credit Union's most frequently cited loan duration was 15 Year, with 493 originations. The 2nd most popular length was 30 Year, with 406 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 645 $107,715,000 $167,000
    $1k-2k 339 $70,995,000 $209,425
    $2k-3k 114 $25,580,000 $224,386
    $3k-4k 74 $17,500,000 $236,486
    $4k-5k 45 $11,975,000 $266,111
    $5k+ 34 $14,870,000 $437,353

    Valley Strong Credit Union's average total fees were $3,941, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 645 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 500 $97,640,000 $195,280
    2.5-3% 464 $104,940,000 $226,164
    <2.5% 247 $51,905,000 $210,142
    4-5% 106 $6,110,000 $57,642
    5-6% 31 $2,575,000 $83,065
    6-7% 4 $380,000 $95,000

    During 2020, Valley Strong Credit Union's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 3-4%, with 500 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 505 $136,995,000 $271,277 $3,927 2.90%
    $100k-200k 434 $65,810,000 $151,636 $3,199 2.94%
    $100,000 or less 341 $17,575,000 $51,540 $834 4.07%
    $400k-600k 47 $22,595,000 $480,745 $4,337 3.04%
    $600k-1MM 21 $15,685,000 $746,905 $9,282 3.34%
    $1MM+ 4 $4,890,000 $1,222,500 $7,658 3.06%

    2020 saw Valley Strong Credit Union place emphasis on $200k-400k loans with 505 originations, totaling $136,995,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 330 $66,560,000 $201,697 $2,997 3.29%
    $50k-75k 291 $45,635,000 $156,821 $3,031 3.24%
    $75k-100k 263 $43,995,000 $167,281 $2,995 3.14%
    $150k-250k 252 $63,790,000 $253,135 $3,040 3.16%
    $50k or less 156 $19,140,000 $122,692 $2,827 3.31%
    $250k+ 59 $24,335,000 $412,458 $4,450 3.14%

    Valley Strong Credit Union lent most frequently to those with incomes in the $100k-150k range, with 330 originations. The second most popular income band? $50k-75k, with 291 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 346 $69,660,000 $201,329 $3,093 3.12%
    30-36% 256 $48,760,000 $190,469 $3,083 3.18%
    <20% 135 $25,155,000 $186,333 $2,505 3.13%
    41% 59 $11,885,000 $201,441 $3,404 3.33%
    38% 53 $12,495,000 $235,755 $3,567 3.14%
    40% 51 $11,005,000 $215,784 $3,687 3.19%
    36% 50 $10,130,000 $202,600 $3,508 3.15%
    44% 49 $8,655,000 $176,633 $3,208 3.44%
    39% 46 $9,000,000 $195,652 $2,902 3.17%
    42% 44 $7,910,000 $179,773 $2,897 3.18%
    43% 43 $8,155,000 $189,651 $3,292 3.28%
    37% 43 $8,315,000 $193,372 $3,366 3.17%
    45% 37 $7,745,000 $209,324 $2,758 3.55%
    48% 37 $6,945,000 $187,703 $2,966 3.59%
    47% 36 $5,600,000 $155,556 $2,510 3.46%
    49% 36 $6,630,000 $184,167 $2,174 3.60%
    46% 29 $5,415,000 $186,724 $3,002 3.48%
    >60% 1 $15,000 $15,000 $0 4.50%
    50-60% 1 $75,000 $75,000 $150 4.50%

    Valley Strong Credit Union lent most frequently to those with DTI ratios of 20-30%, with 346 originations. The next most common DTI ratio? 30-36%, with 256 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 953 $189,075,000 $198,400 $3,054 3.26%
    Not provided 273 $49,585,000 $181,630 $2,918 3.14%
    Asian 40 $8,970,000 $224,250 $3,640 2.92%
    American Indian 38 $5,810,000 $152,895 $3,090 3.14%
    Black 25 $5,595,000 $223,800 $2,677 3.36%
    Filipino 8 $2,020,000 $252,500 $3,400 3.25%
    Asian Indian 8 $1,370,000 $171,250 $3,620 3.05%
    Other Asian 4 $800,000 $200,000 $4,113 2.75%
    Native Hawaiian or Islander 1 $205,000 $205,000 $3,340 3.13%
    Other Pacific Islander 1 $75,000 $75,000 $0 5.00%
    Korean 1 $45,000 $45,000 $850 4.50%

    Approval Rates

    Total approvals of all applications
    90.69%

    Valley Strong Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.44%

    Valley Strong Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,352 $263,550,000 $194,933

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 13 $1,465,000 $112,692
    Single Family (1-4 Units):Site-Built 1,339 $262,085,000 $195,732

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 156 $14,660,000 $93,974 $1,764 3.60%
    40-60% 206 $34,880,000 $169,320 $2,999 2.89%
    60-80% 538 $131,170,000 $243,810 $3,842 2.86%
    80-100% 239 $73,955,000 $309,435 $4,603 3.10%
    Under 20% 212 $8,760,000 $41,321 $366 4.34%