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 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, Grand Forks, and Bismarck among others. We have data for 10 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 a below 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 | 6.57% | 12/4/23 |
| 30 Year Conventional Refi | 6.62% | 12/4/23 |
| 30 Year FHA Purchase | 7.31% | 12/4/23 |
| 30 Year FHA Refi | 6.78% | 12/4/23 |
| 30 Year VA Purchase | 6.33% | 12/4/23 |
| 30 Year USDA Purchase | 6.47% | 12/4/23 |
| 15 Year Conventional Purchase | 6.04% | 12/4/23 |
| 15 Year Conventional Refi | 6.42% | 12/4/23 |
| 15 Year Cash-out Refi | 6.42% | 12/4/23 |
| 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. | ||
Valley Mortgage Mortgage Calculator
Your Estimates
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This is not an official calculator from Valley Mortgage. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
324Origination Dollar Volume (All Markets)
$83,040,000Awards
VALLEY MORTGAGE - 2022
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For 2022, less than of lenders were eligible for this award.
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Relative Rate
Valley Mortgage's average 30 year fixed mortgage rate was
4.67%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.09%.
Relative Fees (Closing Costs)
Valley Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,716.
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) | 257 | $68,255,000 | $265,584 | $4,694 | 4.66% |
| Outside of Metro Areas | 44 | $8,870,000 | $201,591 | $4,956 | 4.81% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 5 | $1,705,000 | $341,000 | $6,528 | 4.20% |
| Fergus Falls, MN (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $4,098 | 3.56% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $5,379 | 5.25% |
| BISMARCK, ND (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $3,687 | 3.06% |
| Jamestown, ND (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $5,441 | 4.08% |
| Wahpeton, ND-MN (FHA|USDA|VA) | 4 | $580,000 | $145,000 | $2,228 | 4.82% |
| Owatonna, MN (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 6.99% |
| Bemidji, MN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,342 | 4.99% |
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.
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Product Mix
For 2022, Valley Mortgage's most frequently originated type of loan was Conventional, with 247 originations. Their 2nd most popular type was FHA, with 68 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 280 | $72,570,000 | $259,179 | $4,622 | 4.74% |
| Refi | 44 | $10,470,000 | $237,955 | $5,274 | 4.14% |
For 2022, Valley Mortgage's most frequently cited loan purpose was Home Purchase, with 280 originations. The 2nd most popular reason was Refi, with 44 originations.
Loan Duration/Length
For 2022, Valley Mortgage's most frequently cited loan duration was 30 Year, with 309 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
Valley Mortgage's average total fees were $4,716, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 125 originations.
Interest Rates
During 2022, Valley Mortgage's average interest rate for loans was 4.67%, while their most frequently originated rate bucket for loans was 5-6%, with 99 originations.
Loan Sizing
2022 saw Valley Mortgage place emphasis on $200k-400k loans with 185 originations, totaling $51,775,000 in origination value.
Applicant Income
Valley Mortgage lent most frequently to those with incomes in the $50k-75k range, with 103 originations. The second most popular income band? $100k-150k, with 73 originations.
Applicant Debt to Income Ratio
Valley Mortgage lent most frequently to those with DTI ratios of 30-36%, with 66 originations. The next most common DTI ratio? 20-30%, with 54 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.57%
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 origination88.27%
Valley Mortgage has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 324 | $83,040,000 | $256,296 |