Valley Financial Credit Union Mortgage Rates, Fees & Info

Billings, MT

LEI: 549300E57105E8PDY082

Tax ID: 81-0247124

4.5 stars - Updated: 12/29/24 - out of 5 stars, based on 16 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 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% 12/29/24
    30 Year Conventional Purchase 6.63% 12/29/24
    30 Year Cash-out Refi 6.75% 12/29/24
    15 Year Conventional Purchase 8.85% 12/29/24
    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






    Your Estimates

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

    This is not an official calculator from Valley Financial 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

    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%