Valley Financial Credit Union Mortgage Rates, Fees & Info

Billings, MT

LEI: 549300E57105E8PDY082

Tax ID: 81-0247124

4.5 stars - Updated: 11/21/24

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

Review & Overview

Valley Financial Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. Valley Financial Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Billings, Bozeman, and Brainerd among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Valley Financial Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Valley Financial 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 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.

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
Home Equity Line of Credit (HELOC)	6.27%	11/21/24
30 Year Conventional Purchase	6.63%	11/21/24
30 Year Cash-out Refi	6.75%	11/21/24
15 Year Conventional Purchase	8.85%	11/21/24
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 Financial Credit Union Mortgage Calculator

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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

244

Origination Dollar Volume (All Markets)

$26,060,000

Relative Rate

Valley Financial Credit Union's average 30 year fixed mortgage rate was 8.15%.

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

This yields a difference of 1.67%.

Relative Fees (Closing Costs)

Valley Financial Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,529.

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
BILLINGS, MT (FHA\|USDA\|VA)	192	$21,050,000	$109,635	$1,597	7.33%
Outside of Metro Areas	39	$3,115,000	$79,872	$1,085	7.35%
Bozeman, MT (FHA\|USDA\|VA)	12	$1,530,000	$127,500	$756	7.17%
Brainerd, MN (FHA\|USDA\|VA)	1	$365,000	$365,000	$4,905	7.63%

Valley Financial Credit Union's top markets include Billings, Bozeman, and Brainerd among others.

Their top states include:

Montana (FHA|USDA|VA)

Wyoming (FHA|USDA|VA)

Minnesota (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against VALLEY FINANCIAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

BILLINGS
Similarity Rank: 21

The Yellowstone Bank
Similarity Rank: 52

Stockman Bank of Montana
Similarity Rank: 408

American Bank Center
Similarity Rank: 435

Opportunity Bank of Montana
Similarity Rank: 551

First Interstate Bank
Similarity Rank: 2052

UNIVERSAL LENDING CORPORATION
Similarity Rank: 2394

Glacier Bank
Similarity Rank: 3192

Servion, Inc.
Similarity Rank: 3568

Century Mortgage Company DBA Century Lending Company
Similarity Rank: 4420

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	156	$17,290,000	$110,833	$1,474	6.71%
HELOC	88	$8,770,000	$99,659	n/a	8.43%

For 2023, Valley Financial Credit Union's most frequently originated type of loan was Conventional, with 156 originations. Their 2nd most popular type was HELOC, with 88 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Improvement	99	$7,455,000	$75,303	$755	7.41%
Cash Out Refi	98	$10,080,000	$102,857	$954	7.27%
Home Purchase	34	$6,820,000	$200,588	$4,919	7.59%
Refi	11	$1,085,000	$98,636	$1,126	6.31%
Other	2	$620,000	$310,000	$2,394	7.43%

For 2023, Valley Financial Credit Union's most frequently cited loan purpose was Home Improvement, with 99 originations. The 2nd most popular reason was Cash Out Refi, with 98 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	96	$11,160,000	$116,250	$4,529	8.15%
Other	54	$3,080,000	$57,037	$645	6.31%
10 Year	33	$2,695,000	$81,667	$714	6.69%
15 Year	31	$3,365,000	$108,548	$1,064	7.16%
20 Year	14	$2,190,000	$156,429	$2,508	6.90%
1 Year	10	$3,190,000	$319,000	$0	8.31%
5 Year	6	$380,000	$63,333	$1,026	7.12%

For 2023, Valley Financial Credit Union's most frequently cited loan duration was 30 Year, with 96 originations. The 2nd most popular length was Other, with 54 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	97	$6,975,000	$71,907
$1k-2k	10	$1,300,000	$130,000
$2k-3k	8	$1,980,000	$247,500
$3k-4k	1	$325,000	$325,000
$4k-5k	1	$905,000	$905,000

Valley Financial Credit Union's average total fees were $4,529, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 97 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
Over 8%	77	$7,375,000	$95,779
7-8%	66	$9,170,000	$138,939
6-7%	54	$6,120,000	$113,333
5-6%	27	$2,065,000	$76,481
4-5%	19	$1,255,000	$66,053
<2.5%	1	$75,000	$75,000

During 2023, Valley Financial Credit Union's average interest rate for loans was 8.15%, while their most frequently originated rate bucket for loans was Over 8%, with 77 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	163	$8,485,000	$52,055	$794	7.25%
$100k-200k	49	$6,785,000	$138,469	$1,298	7.56%
$200k-400k	24	$6,470,000	$269,583	$4,082	7.26%
$400k-600k	5	$2,175,000	$435,000	$0	7.78%
$600k-1MM	3	$2,145,000	$715,000	$7,910	7.39%

2023 saw Valley Financial Credit Union place emphasis on $100,000 or less loans with 163 originations, totaling $8,485,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$75k-100k	53	$4,675,000	$88,208	$1,322	7.18%
$150k-250k	52	$6,340,000	$121,923	$840	7.17%
$100k-150k	48	$3,880,000	$80,833	$1,017	7.43%
$50k-75k	41	$2,775,000	$67,683	$2,151	7.07%
$250k+	12	$2,650,000	$220,833	$5,205	7.50%
$50k or less	12	$540,000	$45,000	$659	8.15%

Valley Financial Credit Union lent most frequently to those with incomes in the $75k-100k range, with 53 originations. The second most popular income band? $150k-250k, with 52 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	60	$5,010,000	$83,500	$1,358	7.17%
30-36%	46	$4,140,000	$90,000	$947	7.30%
<20%	33	$2,595,000	$78,636	$1,094	7.32%
42%	11	$1,025,000	$93,182	$6,532	7.69%
38%	9	$765,000	$85,000	$2,689	7.61%
36%	8	$850,000	$106,250	$894	7.12%
39%	8	$1,640,000	$205,000	$4,295	7.18%
37%	6	$580,000	$96,667	$1,328	7.39%
44%	5	$435,000	$87,000	$0	7.52%
45%	5	$825,000	$165,000	$1,752	7.75%
50-60%	5	$595,000	$119,000	$1,134	6.52%
41%	4	$340,000	$85,000	$681	7.43%
>60%	4	$350,000	$87,500	$560	6.43%
40%	4	$190,000	$47,500	$608	7.68%
43%	3	$475,000	$158,333	$3,231	6.95%
46%	2	$80,000	$40,000	$940	7.62%
48%	1	$65,000	$65,000	$0	5.99%
49%	1	$155,000	$155,000	$810	6.99%
47%	1	$25,000	$25,000	$0	6.74%

Valley Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 60 originations. The next most common DTI ratio? 30-36%, with 46 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	212	$19,480,000	$91,887	$1,434	7.30%
Not applicable	25	$4,995,000	$199,800	$0	7.72%
Not provided	6	$1,500,000	$250,000	$2,922	6.39%
Black	1	$85,000	$85,000	$0	9.00%

Approval Rates

Total approvals of all applications
75.28%

Valley Financial Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
99.18%

Valley Financial Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

Points and Fees

Points	Originations	Total Value	Average Loan
0.0	4	$440,000	$110,000
NA	240	$25,620,000	$106,750

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	244	$26,060,000	$106,803

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	54	$6,220,000	$115,185	$1,329	7.33%
40-60%	16	$2,840,000	$177,500	$1,800	6.78%
60-80%	31	$6,015,000	$194,032	$3,915	7.55%
80-100%	8	$2,050,000	$256,250	$659	8.08%
Over 100%	5	$1,935,000	$387,000	$0	7.94%
Under 20%	130	$7,000,000	$53,846	$719	7.27%