Valley Mortgage Rates, Fees & Info

FARGO, ND

LEI: 549300PLVU3OBFUIPI18

Tax ID: 41-1981350

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

    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 a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Fargo, Grand Forks, Fergus Falls, Minneapolis, and Wahpeton among others. We have data for 12 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 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.57% 11/22/24
    30 Year Conventional Refi 6.62% 11/22/24
    30 Year FHA Purchase 7.31% 11/22/24
    30 Year FHA Refi 6.78% 11/22/24
    30 Year VA Purchase 6.33% 11/22/24
    30 Year USDA Purchase 6.47% 11/22/24
    15 Year Conventional Purchase 6.04% 11/22/24
    15 Year Conventional Refi 6.42% 11/22/24
    15 Year Cash-out Refi 6.42% 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.

    Valley Mortgage Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Valley Mortgage. 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

    404

    Origination Dollar Volume (All Markets)

    $77,820,000
    Show all (11) 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
    FARGO, ND-MN (FHA|USDA|VA) 294 $59,840,000 $203,537 $3,758 4.42%
    Outside of Metro Areas 69 $10,665,000 $154,565 $3,938 4.44%
    GRAND FORKS, ND-MN (FHA|USDA|VA) 12 $2,490,000 $207,500 $4,659 4.34%
    Fergus Falls, MN (FHA|USDA|VA) 13 $2,065,000 $158,846 $3,153 4.61%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 4 $870,000 $217,500 $2,833 4.34%
    Wahpeton, ND-MN (FHA|USDA|VA) 4 $620,000 $155,000 $3,243 4.84%
    BISMARCK, ND (FHA|USDA|VA) 3 $435,000 $145,000 $6,114 4.33%
    Dickinson, ND (FHA|USDA|VA) 1 $255,000 $255,000 $6,560 6.00%
    Bemidji, MN (FHA|USDA|VA) 1 $195,000 $195,000 $59 4.13%
    Brainerd, MN (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.38%
    Jamestown, ND (FHA|USDA|VA) 1 $115,000 $115,000 $5,034 5.50%
    Alexandria, MN (FHA|USDA|VA) 1 $85,000 $85,000 $2,739 4.88%
    Valley Mortgage's top markets include Fargo, Grand Forks, Fergus Falls, Minneapolis, and Wahpeton among others.

    Their top states include:
  • North Dakota (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)

    • 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.

    VISIONBank
    Similarity Rank: 162
    FIRST COMMUNITY CREDIT UNION
    Similarity Rank: 310
    T & C REAL ESTATE SERVICES LLC
    Similarity Rank: 312
    Deere Employees Credit Union
    Similarity Rank: 326
    VALLEY MORTGAGE, INC.
    Similarity Rank: 336
    Cornerstone State Bank
    Similarity Rank: 408
    Starion Bank
    Similarity Rank: 616
    TOWN AND COUNTRY Credit Union
    Similarity Rank: 627
    MEMBERS COOPERATIVE
    Similarity Rank: 630
    WESTconsin Credit Union
    Similarity Rank: 795

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 244 $46,990,000 $192,582 $3,259 4.49%
    FHA 81 $15,375,000 $189,815 $5,331 4.41%
    VA 44 $9,740,000 $221,364 $4,473 4.26%
    USDA 31 $4,945,000 $159,516 $2,952 4.34%
    HELOC 2 $530,000 $265,000 n/a 4.38%
    FHA 1 $135,000 $135,000 $0 4.75%
    VA 1 $105,000 $105,000 $0 4.38%

    For 2018, Valley Mortgage's most frequently originated type of loan was Conventional, with 244 originations. Their 2nd most popular type was FHA, with 81 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 369 $71,435,000 $193,591 $3,671 4.43%
    Refi 23 $4,415,000 $191,957 $5,198 4.47%
    Cash Out Refi 11 $1,875,000 $170,455 $5,144 4.60%
    NA 1 $95,000 $95,000 $555 4.50%

    For 2018, Valley Mortgage's most frequently cited loan purpose was Home Purchase, with 369 originations. The 2nd most popular reason was Refi, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 377 $72,655,000 $192,719 $3,793 4.46%
    15 Year 17 $2,875,000 $169,118 $3,013 4.14%
    20 Year 5 $1,105,000 $221,000 $4,788 4.23%
    10 Year 3 $785,000 $261,667 $3,776 4.33%
    Other 2 $400,000 $200,000 $7,461 4.31%

    For 2018, Valley Mortgage's most frequently cited loan duration was 30 Year, with 377 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 261 $48,305,000 $185,077
    $2k-3k 63 $12,605,000 $200,079
    $1k-2k 51 $8,715,000 $170,882
    $3k-4k 16 $4,550,000 $284,375
    $4k-5k 5 $1,485,000 $297,000
    $5k+ 4 $1,390,000 $347,500

    Valley Mortgage's average total fees were $3,793, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 261 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 320 $62,220,000 $194,438
    3-4% 67 $13,065,000 $195,000
    5-6% 17 $2,535,000 $149,118

    During 2018, Valley Mortgage's average interest rate for loans was 4.46%, while their most frequently originated rate bucket for loans was 4-5%, with 320 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 226 $35,450,000 $156,858 $3,315 4.45%
    $200k-400k 149 $38,035,000 $255,268 $4,583 4.41%
    $100,000 or less 23 $1,695,000 $73,696 $2,275 4.56%
    $400k-600k 6 $2,640,000 $440,000 $7,757 4.31%

    2018 saw Valley Mortgage place emphasis on $100k-200k loans with 226 originations, totaling $35,450,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 127 $22,715,000 $178,858 $3,607 4.39%
    $50k or less 108 $15,110,000 $139,907 $3,237 4.41%
    $75k-100k 86 $19,120,000 $222,326 $4,187 4.48%
    $100k-150k 64 $15,560,000 $243,125 $4,402 4.51%
    $150k-250k 13 $3,695,000 $284,231 $4,236 4.52%
    $250k+ 5 $1,315,000 $263,000 $4,965 4.53%

    Valley Mortgage lent most frequently to those with incomes in the $50k-75k range, with 127 originations. The second most popular income band? $50k or less, with 108 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 78 $14,190,000 $181,923 $3,556 4.46%
    20-30% 69 $13,435,000 $194,710 $3,414 4.47%
    50-60% 31 $6,565,000 $211,774 $4,551 4.45%
    41% 24 $4,730,000 $197,083 $3,216 4.46%
    39% 19 $3,585,000 $188,684 $4,158 4.32%
    45% 19 $3,465,000 $182,368 $3,782 4.37%
    46% 16 $3,420,000 $213,750 $4,883 4.47%
    38% 16 $3,600,000 $225,000 $3,745 4.48%
    47% 16 $3,320,000 $207,500 $3,937 4.35%
    44% 16 $3,110,000 $194,375 $3,714 4.39%
    37% 15 $2,535,000 $169,000 $4,144 4.50%
    49% 14 $2,610,000 $186,429 $4,459 4.61%
    36% 14 $2,760,000 $197,143 $3,688 4.49%
    43% 13 $2,275,000 $175,000 $3,599 4.31%
    40% 13 $2,415,000 $185,769 $3,712 4.59%
    48% 12 $2,070,000 $172,500 $3,664 4.31%
    42% 10 $2,220,000 $222,000 $4,578 4.28%
    <20% 9 $1,515,000 $168,333 $2,863 4.28%

    Valley Mortgage lent most frequently to those with DTI ratios of 30-36%, with 78 originations. The next most common DTI ratio? 20-30%, with 69 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 377 $72,655,000 $192,719 $3,732 4.44%
    Black 11 $2,145,000 $195,000 $4,713 4.41%
    Asian 7 $985,000 $140,714 $3,775 4.28%
    Not provided 4 $880,000 $220,000 $4,355 4.50%
    Not applicable 3 $615,000 $205,000 $3,962 4.67%
    American Indian 1 $275,000 $275,000 $10,685 4.63%
    Other Asian 1 $265,000 $265,000 $4,838 3.88%

    Approval Rates

    Total approvals of all applications
    97.84%

    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 origination
    88.12%

    Valley Mortgage has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 404 $77,820,000 $192,624

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $135,000 $135,000
    Single Family (1-4 Units):Site-Built 403 $77,685,000 $192,767

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $495,000 $165,000 $2,816 4.46%
    40-60% 9 $1,435,000 $159,444 $3,703 4.44%
    60-80% 63 $11,845,000 $188,016 $3,359 4.51%
    80-100% 324 $62,700,000 $193,519 $3,793 4.43%
    Over 100% 5 $1,345,000 $269,000 $9,609 4.31%