Valleystar Credit Union Mortgage Rates, Fees & Info

Martinsville, VA

LEI: 549300NTHJ0G5YXW3J85

Tax ID: 54-6040482

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

    Valleystar Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Valleystar Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Martinsville, Danville, Roanoke, Staunton, and Greensboro among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Valleystar Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Valleystar 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 6.65% 11/22/24
    30 Year Conventional Refi 6.72% 11/22/24
    30 Year Cash-out Refi 6.05% 11/22/24
    15 Year Conventional Purchase 5.68% 11/22/24
    15 Year Conventional Refi 6.30% 11/22/24
    15 Year Cash-out Refi 6.30% 11/22/24
    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.

    Valleystar Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Valleystar 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

    254

    Origination Dollar Volume (All Markets)

    $19,560,000

    Awards

    ValleyStar Credit Union 30 Year Conventional Loans silver
    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
    Martinsville, VA (FHA|USDA|VA) 128 $8,490,000 $66,328 $1,831 4.30%
    Danville, VA (FHA|USDA|VA) 67 $5,015,000 $74,851 $1,944 4.68%
    ROANOKE, VA (FHA|USDA|VA) 25 $3,625,000 $145,000 $2,637 4.09%
    Outside of Metro Areas 20 $1,450,000 $72,500 $2,127 4.42%
    STAUNTON, VA (FHA|USDA|VA) 7 $355,000 $50,714 $1,885 4.12%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 4 $290,000 $72,500 $2,350 4.59%
    LYNCHBURG, VA (FHA|USDA|VA) 2 $270,000 $135,000 $3,908 4.00%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $65,000 $65,000 $2,166 4.25%
    Valleystar Credit Union's top markets include Martinsville, Danville, Roanoke, Staunton, and Greensboro among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

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

    American National Bank and Trust Company
    Similarity Rank: 132
    FREEDOM FIRST
    Similarity Rank: 460
    First Reliance Bank
    Similarity Rank: 1200
    FIRST BANCORP
    Similarity Rank: 1332
    OVM FINANCIAL, INC.
    Similarity Rank: 1425
    Union Mortgage Group
    Similarity Rank: 1683
    First-Citizens Bank & Trust Company
    Similarity Rank: 2265
    Integrity Home Mortgage Corp
    Similarity Rank: 2295
    SUNTRUST MORTGAGE, INC
    Similarity Rank: 2646
    Pinnacle Bank
    Similarity Rank: 2832

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 254 $19,560,000 $77,008 $1,997 4.39%

    For 2018, Valleystar Credit Union's most frequently originated type of loan was Conventional, with 254 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 137 $11,055,000 $80,693 $2,305 4.63%
    Refi 62 $4,560,000 $73,548 $1,688 4.10%
    Cash Out Refi 51 $3,705,000 $72,647 $1,685 4.20%
    Home Improvement 4 $240,000 $60,000 $1,641 4.25%

    For 2018, Valleystar Credit Union's most frequently cited loan purpose was Home Purchase, with 137 originations. The 2nd most popular reason was Refi, with 62 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 120 $10,290,000 $85,750 $2,300 4.18%
    15 Year 47 $2,825,000 $60,106 $1,811 4.34%
    10 Year 41 $1,295,000 $31,585 $1,011 5.25%
    Other 34 $3,130,000 $92,059 $1,545 3.39%
    30 Year 12 $2,020,000 $168,333 $3,326 4.35%

    For 2018, Valleystar Credit Union's most frequently cited loan duration was 20 Year, with 120 originations. The 2nd most popular length was 15 Year, with 47 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 174 $8,690,000 $49,943
    $1k-2k 51 $7,155,000 $140,294
    $2k-3k 2 $970,000 $485,000

    Valleystar Credit Union's average total fees were $3,326, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 174 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 126 $10,940,000 $86,825
    3-4% 80 $5,520,000 $69,000
    6-7% 17 $305,000 $17,941
    Over 8% 4 $50,000 $12,500

    During 2018, Valleystar Credit Union's average interest rate for loans was 4.35%, while their most frequently originated rate bucket for loans was 4-5%, with 126 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 204 $10,500,000 $51,471 $1,757 4.43%
    $100k-200k 40 $5,200,000 $130,000 $2,686 4.21%
    $200k-400k 6 $1,490,000 $248,333 $4,502 4.23%
    $400k-600k 2 $940,000 $470,000 $3,315 4.25%
    $600k-1MM 2 $1,430,000 $715,000 $4,721 4.25%

    2018 saw Valleystar Credit Union place emphasis on $100,000 or less loans with 204 originations, totaling $10,500,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 112 $6,580,000 $58,750 $1,922 4.31%
    $50k-75k 73 $4,855,000 $66,507 $1,859 4.52%
    $75k-100k 29 $2,605,000 $89,828 $2,272 4.44%
    $100k-150k 19 $1,465,000 $77,105 $1,997 4.40%
    $150k-250k 7 $1,565,000 $223,571 $3,142 4.21%
    $250k+ 1 $435,000 $435,000 $3,315 4.25%

    Valleystar Credit Union lent most frequently to those with incomes in the $50k or less range, with 112 originations. The second most popular income band? $50k-75k, with 73 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 77 $6,315,000 $82,013 $2,145 4.37%
    <20% 60 $3,630,000 $60,500 $1,675 4.44%
    30-36% 38 $2,470,000 $65,000 $1,824 4.57%
    40% 9 $875,000 $97,222 $2,706 4.18%
    42% 9 $825,000 $91,667 $2,133 4.05%
    36% 7 $435,000 $62,143 $2,139 4.18%
    43% 7 $535,000 $76,429 $2,331 4.11%
    38% 5 $615,000 $123,000 $2,280 4.72%
    39% 4 $200,000 $50,000 $2,189 4.19%
    41% 4 $330,000 $82,500 $1,800 4.36%
    46% 3 $345,000 $115,000 $2,484 4.25%
    >60% 1 $45,000 $45,000 $2,532 4.25%
    47% 1 $65,000 $65,000 $2,516 4.25%
    50-60% 1 $35,000 $35,000 $1,201 4.00%
    37% 1 $95,000 $95,000 $2,416 4.25%

    Valleystar Credit Union lent most frequently to those with DTI ratios of 20-30%, with 77 originations. The next most common DTI ratio? <20%, with 60 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 183 $13,545,000 $74,016 $2,000 4.38%
    Black 52 $3,620,000 $69,615 $1,969 4.42%
    Not applicable 14 $2,120,000 $151,429 $1,406 4.00%
    Not provided 2 $140,000 $70,000 $2,599 4.25%
    Asian 3 $135,000 $45,000 $2,193 4.25%

    Approval Rates

    Total approvals of all applications
    98.58%

    Valleystar Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    91.34%

    Valleystar Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 254 $19,560,000 $77,008

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $805,000 $805,000
    Single Family (1-4 Units):Manufactured 45 $2,515,000 $55,889
    Single Family (1-4 Units):Site-Built 208 $16,240,000 $78,077

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $540,000 $45,000 $1,418 4.22%
    40-60% 21 $1,315,000 $62,619 $1,651 4.10%
    60-80% 70 $6,000,000 $85,714 $1,973 4.09%
    80-100% 84 $6,910,000 $82,262 $2,497 4.19%
    Over 100% 11 $835,000 $75,909 $2,850 4.16%
    Under 20% 6 $170,000 $28,333 $943 4.74%