Valley Mortgage Rates, Fees & Info
FARGO, NDLEI: 549300PLVU3OBFUIPI18
Tax ID: 41-1981350
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
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 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% | 4/18/24 |
| 30 Year Conventional Refi | 6.62% | 4/18/24 |
| 30 Year FHA Purchase | 7.31% | 4/18/24 |
| 30 Year FHA Refi | 6.78% | 4/18/24 |
| 30 Year VA Purchase | 6.33% | 4/18/24 |
| 30 Year USDA Purchase | 6.47% | 4/18/24 |
| 15 Year Conventional Purchase | 6.04% | 4/18/24 |
| 15 Year Conventional Refi | 6.42% | 4/18/24 |
| 15 Year Cash-out Refi | 6.42% | 4/18/24 |
| 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
404Origination Dollar Volume (All Markets)
$77,820,000Awards
VALLEY MORTGAGE - 2018
VALLEY MORTGAGE is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
Work for VALLEY MORTGAGE?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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% |
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: 162
Similarity Rank: 310
Similarity Rank: 312
Similarity Rank: 326
Similarity Rank: 336
Similarity Rank: 408
Similarity Rank: 616
Similarity Rank: 627
Similarity Rank: 630
Similarity Rank: 795
Product Mix
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
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
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
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
2018 saw Valley Mortgage place emphasis on $100k-200k loans with 226 originations, totaling $35,450,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications97.84%
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 origination88.12%
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 |