Valley Mortgage Rates, Fees & Info

FARGO, ND

LEI: 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, Grand Forks, and Wahpeton 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 an above 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% 3/28/24
30 Year Conventional Refi 6.62% 3/28/24
30 Year FHA Purchase 7.31% 3/28/24
30 Year FHA Refi 6.78% 3/28/24
30 Year VA Purchase 6.33% 3/28/24
30 Year USDA Purchase 6.47% 3/28/24
15 Year Conventional Purchase 6.04% 3/28/24
15 Year Conventional Refi 6.42% 3/28/24
15 Year Cash-out Refi 6.42% 3/28/24
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

461

Origination Dollar Volume (All Markets)

$99,735,000
Show all (5) 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) 339 $75,085,000 $221,490 $4,550 3.96%
Outside of Metro Areas 84 $15,140,000 $180,238 $4,318 3.87%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 7 $2,925,000 $417,857 $7,060 3.93%
Fergus Falls, MN (FHA|USDA|VA) 10 $2,010,000 $201,000 $3,994 4.02%
GRAND FORKS, ND-MN (FHA|USDA|VA) 10 $1,910,000 $191,000 $4,879 3.96%
Wahpeton, ND-MN (FHA|USDA|VA) 6 $1,100,000 $183,333 $2,627 3.93%
Alexandria, MN (FHA|USDA|VA) 2 $690,000 $345,000 $7,369 4.25%
Bemidji, MN (FHA|USDA|VA) 1 $355,000 $355,000 $15,609 3.88%
Jamestown, ND (FHA|USDA|VA) 1 $295,000 $295,000 $4,255 3.75%
ST. CLOUD, MN (FHA|USDA|VA) 1 $225,000 $225,000 $4,351 3.63%
Valley Mortgage's top markets include Fargo, Minneapolis, Fergus Falls, Grand Forks, 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.

    CAPITAL CREDIT UNION
    Similarity Rank: 230
    FIRST COMMUNITY CREDIT UNION
    Similarity Rank: 408
    T & C REAL ESTATE SERVICES LLC
    Similarity Rank: 440
    VALLEY MORTGAGE, INC.
    Similarity Rank: 550
    TOWN AND COUNTRY Credit Union
    Similarity Rank: 627
    DHA FINANCIAL, LLC
    Similarity Rank: 912
    ST. CLOUD FINANCIAL
    Similarity Rank: 978
    South Metro Federal Credit Union
    Similarity Rank: 1088
    First National Bank of Elk River
    Similarity Rank: 1110
    WESTconsin Credit Union
    Similarity Rank: 1216

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 310 $68,350,000 $220,484 $4,262 3.94%
    FHA 88 $17,140,000 $194,773 $5,167 4.14%
    VA 43 $10,855,000 $252,442 $5,543 3.69%
    USDA 20 $3,390,000 $169,500 $3,898 3.71%

    For 2019, Valley Mortgage's most frequently originated type of loan was Conventional, with 310 originations. Their 2nd most popular type was FHA, with 88 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 362 $77,650,000 $214,503 $4,439 3.99%
    Refi 99 $22,085,000 $223,081 $4,912 3.79%

    For 2019, Valley Mortgage's most frequently cited loan purpose was Home Purchase, with 362 originations. The 2nd most popular reason was Refi, with 99 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 414 $91,230,000 $220,362 $4,593 3.99%
    15 Year 32 $5,660,000 $176,875 $4,258 3.48%
    20 Year 13 $2,285,000 $175,769 $3,912 3.71%
    Other 2 $560,000 $280,000 $3,519 3.63%

    For 2019, Valley Mortgage's most frequently cited loan duration was 30 Year, with 414 originations. The 2nd most popular length was 15 Year, with 32 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 235 $48,245,000 $205,298
    $2k-3k 101 $21,995,000 $217,772
    $1k-2k 54 $8,230,000 $152,407
    $3k-4k 34 $10,590,000 $311,471
    $4k-5k 10 $3,640,000 $364,000
    $5k+ 5 $2,375,000 $475,000

    Valley Mortgage's average total fees were $4,593, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 235 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 291 $65,635,000 $225,550
    4-5% 156 $31,020,000 $198,846
    2.5-3% 8 $1,900,000 $237,500
    5-6% 6 $1,180,000 $196,667

    During 2019, Valley Mortgage's average interest rate for loans was 3.99%, while their most frequently originated rate bucket for loans was 3-4%, with 291 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 215 $34,035,000 $158,302 $3,619 3.99%
    $200k-400k 215 $56,415,000 $262,395 $5,242 3.90%
    $400k-600k 15 $6,685,000 $445,667 $8,310 3.76%
    $100,000 or less 14 $1,040,000 $74,286 $3,315 4.11%
    $600k-1MM 2 $1,560,000 $780,000 $10,114 3.88%

    2019 saw Valley Mortgage place emphasis on $100k-200k loans with 215 originations, totaling $34,035,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 147 $28,635,000 $194,796 $4,273 4.02%
    $100k-150k 100 $26,480,000 $264,800 $5,499 3.82%
    $75k-100k 99 $22,125,000 $223,485 $4,442 3.97%
    $50k or less 84 $12,360,000 $147,143 $3,555 3.98%
    $150k-250k 17 $5,625,000 $330,882 $6,004 3.70%
    $250k+ 10 $3,390,000 $339,000 $5,859 4.01%

    Valley Mortgage lent most frequently to those with incomes in the $50k-75k range, with 147 originations. The second most popular income band? $100k-150k, with 100 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 102 $22,590,000 $221,471 $4,651 3.91%
    20-30% 84 $18,020,000 $214,524 $3,954 3.89%
    50-60% 33 $7,335,000 $222,273 $5,509 4.04%
    44% 30 $6,620,000 $220,667 $5,430 3.80%
    41% 27 $5,645,000 $209,074 $4,781 3.94%
    37% 20 $4,140,000 $207,000 $4,690 3.79%
    <20% 18 $3,410,000 $189,444 $3,642 3.85%
    43% 17 $3,575,000 $210,294 $5,067 3.91%
    42% 16 $3,110,000 $194,375 $4,477 3.95%
    39% 16 $3,230,000 $201,875 $4,729 4.12%
    40% 16 $3,250,000 $203,125 $5,027 4.06%
    48% 14 $3,980,000 $284,286 $5,072 4.07%
    36% 14 $2,810,000 $200,714 $4,229 3.92%
    45% 13 $2,655,000 $204,231 $3,949 4.10%
    46% 11 $2,145,000 $195,000 $2,563 4.09%
    38% 10 $2,430,000 $243,000 $3,343 4.19%
    49% 8 $1,520,000 $190,000 $5,025 4.05%
    47% 8 $2,120,000 $265,000 $5,891 4.28%
    >60% 1 $145,000 $145,000 $2,402 4.75%

    Valley Mortgage lent most frequently to those with DTI ratios of 30-36%, with 102 originations. The next most common DTI ratio? 20-30%, with 84 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 414 $89,300,000 $215,700 $4,560 3.92%
    Not provided 33 $7,765,000 $235,303 $4,421 4.18%
    Black 8 $1,580,000 $197,500 $5,305 4.02%
    Asian 5 $935,000 $187,000 $3,490 3.86%
    American Indian 1 $155,000 $155,000 $2,702 4.63%

    Approval Rates

    Total approvals of all applications
    98.25%

    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
    90.46%

    Valley Mortgage has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 461 $99,735,000 $216,345

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $490,000 $245,000
    Single Family (1-4 Units):Site-Built 459 $99,245,000 $216,220

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $520,000 $130,000 $3,784 3.75%
    40-60% 12 $2,910,000 $242,500 $4,115 3.46%
    60-80% 93 $18,805,000 $202,204 $3,707 3.87%
    80-100% 339 $73,655,000 $217,271 $4,697 4.00%
    Over 100% 10 $2,840,000 $284,000 $8,406 3.59%