Valley Financial Credit Union Mortgage Rates, Fees & Info
Billings, MTLEI: 549300E57105E8PDY082
Tax ID: 81-0247124
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Mortgage Data
Review & Overview
Valley Financial Credit Union is a smaller credit union specializing in Cash Out Refi loans. Valley Financial Credit Union has an average proportion of conventional loans. Their top two markets are Billings and Bozeman .Valley Financial Credit Union has a below average approval rate when compared to the average across all lenders. They typically have about average rates.
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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
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
179Origination Dollar Volume (All Markets)
$8,795,000Top 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) | 155 | $7,115,000 | $45,903 | $430 | 5.59% |
| Outside of Metro Areas | 21 | $1,275,000 | $60,714 | $533 | 5.19% |
| Bozeman, MT (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $1,170 | 6.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 130 | $6,710,000 | $51,615 | n/a | 5.14% |
| Conventional | 49 | $2,085,000 | $42,551 | $459 | 6.63% |
For 2018, Valley Financial Credit Union's most frequently originated type of loan was HELOC, with 130 originations. Their 2nd most popular type was Conventional, with 49 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 165 | $8,325,000 | $50,455 | $521 | 5.32% |
| Home Purchase | 14 | $470,000 | $33,571 | $297 | 8.25% |
For 2018, Valley Financial Credit Union's most frequently cited loan purpose was Cash Out Refi, with 165 originations. The 2nd most popular reason was Home Purchase, with 14 originations.
Loan Duration/Length
For 2018, Valley Financial Credit Union's most frequently cited loan duration was 30 Year, with 131 originations. The 2nd most popular length was Other, with 20 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 46 | $1,860,000 | $40,435 |
Valley Financial Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 46 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 105 | $5,575,000 | $53,095 |
| 5-6% | 35 | $1,755,000 | $50,143 |
| 6-7% | 19 | $795,000 | $41,842 |
| Over 8% | 12 | $360,000 | $30,000 |
| 7-8% | 7 | $295,000 | $42,143 |
During 2018, Valley Financial Credit Union's average interest rate for loans was 5.13%, while their most frequently originated rate bucket for loans was 4-5%, with 105 originations.
Loan Sizing
2018 saw Valley Financial Credit Union place emphasis on $100,000 or less loans with 170 originations, totaling $7,200,000 in origination value.
Applicant Income
Valley Financial Credit Union lent most frequently to those with incomes in the $100k-150k range, with 47 originations. The second most popular income band? $50k-75k, with 42 originations.
Applicant Debt to Income Ratio
Valley Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 67 originations. The next most common DTI ratio? <20%, with 47 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications59.67%
Valley Financial Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 179 | $8,795,000 | $49,134 |