Valley Mortgage Rates, Fees & Info
FARGO, NDLEI: 549300PLVU3OBFUIPI18
Tax ID: 41-1981350
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Mortgage Data
Review & Overview
Valley Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. Valley Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Fargo, Minneapolis, Fergus Falls, Bemidji, and Wahpeton among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Valley Mortgage 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. Valley Mortgage is typically an average 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 | 6.40% | 3/19/23 |
30 Year Conventional Refi | 6.34% | 3/19/23 |
30 Year Cash-out Refi | 6.68% | 3/19/23 |
30 Year FHA Purchase | 7.25% | 3/19/23 |
30 Year FHA Refi | 6.84% | 3/19/23 |
30 Year VA Purchase | 5.98% | 3/19/23 |
30 Year VA Refi | 5.94% | 3/19/23 |
30 Year USDA Purchase | 6.43% | 3/19/23 |
30 Year USDA Refi | 6.42% | 3/19/23 |
15 Year Conventional Purchase | 5.79% | 3/19/23 |
15 Year Conventional Refi | 5.84% | 3/19/23 |
15 Year Cash-out Refi | 5.84% | 3/19/23 |
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. |
Originations
780Origination Dollar Volume (All Markets)
$186,670,000Relative Rate
Valley Mortgage's average 30 year fixed mortgage rate was
2.83%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.32%.
Relative Fees (Closing Costs)
Valley Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,353.
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 $4,750.
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 |
---|---|---|---|---|---|
FARGO, ND-MN (FHA|USDA|VA) | 603 | $144,955,000 | $240,390 | $4,268 | 2.78% |
Outside of Metro Areas | 94 | $18,710,000 | $199,043 | $4,137 | 2.71% |
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 16 | $6,010,000 | $375,625 | $3,869 | 2.78% |
Fergus Falls, MN (FHA|USDA|VA) | 18 | $4,530,000 | $251,667 | $4,048 | 2.69% |
Bemidji, MN (FHA|USDA|VA) | 11 | $3,565,000 | $324,091 | $4,570 | 2.76% |
Wahpeton, ND-MN (FHA|USDA|VA) | 11 | $2,385,000 | $216,818 | $3,947 | 2.64% |
GRAND FORKS, ND-MN (FHA|USDA|VA) | 11 | $1,935,000 | $175,909 | $3,508 | 2.84% |
Brainerd, MN (FHA|USDA|VA) | 4 | $920,000 | $230,000 | $4,018 | 2.81% |
BISMARCK, ND (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $5,065 | 2.62% |
Minot, ND (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $1,727 | 2.93% |
ROCHESTER, MN (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $5,214 | 2.75% |
DULUTH, MN-WI (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,185 | 2.93% |
Jamestown, ND (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $10,033 | 2.50% |
New Ulm, MN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,461 | 2.38% |
Red Wing, MN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,575 | 2.99% |
Grand Rapids, MN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 2.50% |
Alexandria, MN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,384 | 2.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against VALLEY MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 602
Similarity Rank: 684
Similarity Rank: 720
Similarity Rank: 826
Similarity Rank: 1044
Similarity Rank: 1200
Similarity Rank: 1204
Similarity Rank: 1228
Similarity Rank: 1428
Similarity Rank: 1488
Product Mix
For 2021, Valley Mortgage's most frequently originated type of loan was Conventional, with 589 originations. Their 2nd most popular type was FHA, with 120 originations.
Loan Reason
For 2021, Valley Mortgage's most frequently cited loan purpose was Home Purchase, with 498 originations. The 2nd most popular reason was Refi, with 278 originations.
Loan Duration/Length
For 2021, Valley Mortgage's most frequently cited loan duration was 30 Year, with 661 originations. The 2nd most popular length was 15 Year, with 70 originations.
Origination Fees/Closing Costs
Valley Mortgage's average total fees were $4,353, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 310 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 418 | $101,720,000 | $243,349 |
<2.5% | 247 | $58,755,000 | $237,874 |
3-4% | 110 | $24,940,000 | $226,727 |
4-5% | 5 | $1,255,000 | $251,000 |
During 2021, Valley Mortgage's average interest rate for loans was 2.83%, while their most frequently originated rate bucket for loans was 2.5-3%, with 418 originations.
Loan Sizing
2021 saw Valley Mortgage place emphasis on $200k-400k loans with 441 originations, totaling $117,925,000 in origination value.
Applicant Income
Valley Mortgage lent most frequently to those with incomes in the $50k-75k range, with 229 originations. The second most popular income band? $100k-150k, with 178 originations.
Applicant Debt to Income Ratio
Valley Mortgage lent most frequently to those with DTI ratios of 20-30%, with 166 originations. The next most common DTI ratio? 30-36%, with 166 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.14%
Valley Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination92.18%
Valley Mortgage has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 780 | $186,670,000 | $239,321 |