Valley National Bank Mortgage Rates, Fees & Info
Passaic, NJLEI: KI0VI4JRMCIJ329YTN75
Tax ID: 22-1186387
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Mortgage Data
Review & Overview
Valley National Bank is a small bank specializing in Home Purchase loans. Valley National Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: New York, Tampa, Miami, Ocean City, and Poughkeepsie among others. We have data for 75 markets. (Some data included below & more in-depth data is available with an active subscription.)Valley National Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Valley National Bank 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.72% | 4/5/25 |
| 30 Year Conventional Purchase | 6.37% | 4/5/25 |
| 30 Year Conventional Refi | 6.69% | 4/5/25 |
| 30 Year Cash-out Refi | 7.05% | 4/5/25 |
| 30 Year FHA Purchase | 6.95% | 4/5/25 |
| 30 Year FHA Refi | 6.72% | 4/5/25 |
| 30 Year VA Purchase | 6.51% | 4/5/25 |
| 30 Year USDA Purchase | 6.65% | 4/5/25 |
| 15 Year Conventional Purchase | 6.24% | 4/5/25 |
| 15 Year Conventional Refi | 6.25% | 4/5/25 |
| 15 Year Cash-out Refi | 6.25% | 4/5/25 |
| 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 National Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,613Origination Dollar Volume (All Markets)
$1,097,405,000Awards
Valley National Bank - 2024
Valley National Bank is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Valley National Bank's average 30 year fixed mortgage rate was
6.88%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.33%.
Relative Fees (Closing Costs)
Valley National Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,026.
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 $8,356.
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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1,754 | $743,900,000 | $424,116 | $4,587 | 6.92% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 160 | $84,550,000 | $528,438 | $6,768 | 7.14% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 162 | $64,140,000 | $395,926 | $5,654 | 6.97% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 43 | $32,575,000 | $757,558 | $6,986 | 6.82% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 59 | $18,295,000 | $310,085 | $5,852 | 6.97% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 17 | $15,485,000 | $910,882 | $10,353 | 7.23% |
| KINGSTON, NY (FHA|USDA|VA) | 30 | $12,660,000 | $422,000 | $5,807 | 6.83% |
| Outside of Metro Areas | 23 | $11,715,000 | $509,348 | $8,247 | 6.86% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 29 | $10,425,000 | $359,483 | $6,617 | 6.87% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 21 | $6,945,000 | $330,714 | $7,510 | 7.12% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 19 | $6,655,000 | $350,263 | $7,603 | 7.30% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 22 | $6,150,000 | $279,545 | $3,143 | 7.42% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 24 | $5,600,000 | $233,333 | $7,056 | 7.13% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $5,505,000 | $5,505,000 | $0 | 7.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 11 | $5,335,000 | $485,000 | $4,819 | 6.81% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 22 | $4,870,000 | $221,364 | $3,870 | 6.62% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 22 | $4,750,000 | $215,909 | $2,179 | 7.11% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 26 | $4,110,000 | $158,077 | $3,986 | 6.86% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $3,525,000 | $1,175,000 | $0 | 7.31% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 15 | $3,515,000 | $234,333 | $3,364 | 7.25% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $3,360,000 | $1,680,000 | $9,350 | 6.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 13 | $2,365,000 | $181,923 | $5,427 | 7.31% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 6 | $2,340,000 | $390,000 | $7,837 | 7.46% |
| MONTGOMERY, AL (FHA|USDA|VA) | 22 | $2,340,000 | $106,364 | $4,516 | 7.12% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $2,320,000 | $1,160,000 | $7,996 | 7.38% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 6 | $2,160,000 | $360,000 | $6,804 | 6.74% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 9 | $1,915,000 | $212,778 | $4,123 | 6.66% |
| Alexander City, AL (FHA|USDA|VA) | 13 | $1,835,000 | $141,154 | $2,117 | 7.29% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $1,795,000 | $598,333 | $6,084 | 6.42% |
| OCALA, FL (FHA|USDA|VA) | 3 | $1,715,000 | $571,667 | $3,671 | 7.36% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 3 | $1,455,000 | $485,000 | $5,330 | 6.69% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 5 | $1,345,000 | $269,000 | $5,530 | 6.53% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 2 | $1,340,000 | $670,000 | $8,568 | 6.06% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $1,295,000 | $1,295,000 | $8,489 | 5.88% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 5 | $1,285,000 | $257,000 | $4,173 | 7.45% |
| Hudson, NY (FHA|USDA|VA) | 3 | $1,135,000 | $378,333 | $8,187 | 6.46% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $1,115,000 | $371,667 | $5,420 | 6.90% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $7,125 | 7.35% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $3,359 | 6.75% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $6,750 | 6.81% |
| Seneca, SC (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $6,610 | 6.25% |
| Brevard, NC (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $0 | 7.49% |
| ROCHESTER, NY (FHA|USDA|VA) | 4 | $710,000 | $177,500 | $6,636 | 6.28% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $4,414 | 7.88% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $2,064 | 7.63% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $4,662 | 7.25% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $6,648 | 7.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $4,914 | 7.25% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $3,254 | 6.88% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,307 | 6.75% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $0 | 8.63% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $5,666 | 6.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,343 | 6.75% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $12,420 | 6.63% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $9,080 | 8.50% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $4,813 | 6.44% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,762 | 7.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,649 | 6.25% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,546 | 6.00% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $10,565 | 6.25% |
| Auburn, NY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,730 | 6.38% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,062 | 7.63% |
| Rutland, VT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 6.99% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,074 | 6.88% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,427 | 6.75% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,141 | 6.88% |
| READING, PA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 7.19% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 7.19% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,910 | 5.88% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,889 | 6.88% |
| TULSA, OK (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 7.63% |
| Keene, NH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,780 | 6.13% |
| DuBois, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 6.99% |
| Bradford, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,498 | 6.37% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against Valley National Bank 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 2024, Valley National Bank's most frequently originated type of loan was Conventional, with 1,420 originations. Their 2nd most popular type was HELOC, with 1,152 originations.
Loan Reason
For 2024, Valley National Bank's most frequently cited loan purpose was Home Purchase, with 1,068 originations. The 2nd most popular reason was Home Improvement, with 753 originations.
Loan Duration/Length
For 2024, Valley National Bank's most frequently cited loan duration was 30 Year, with 2,257 originations. The 2nd most popular length was 20 Year, with 189 originations.
Origination Fees/Closing Costs
Valley National Bank's average total fees were $6,026, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 621 originations.
Interest Rates
During 2024, Valley National Bank's average interest rate for loans was 6.88%, while their most frequently originated rate bucket for loans was 7-8%, with 1,047 originations.
Loan Sizing
2024 saw Valley National Bank place emphasis on $200k-400k loans with 868 originations, totaling $253,780,000 in origination value.
Applicant Income
Valley National Bank lent most frequently to those with incomes in the $150k-250k range, with 722 originations. The second most popular income band? $250k+, with 712 originations.
Applicant Debt to Income Ratio
Valley National Bank lent most frequently to those with DTI ratios of 30-36%, with 505 originations. The next most common DTI ratio? 20-30%, with 436 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.32%
Valley National Bank has a below average approval rate.
Pick Rate
Approvals leading to origination79.07%
Valley National Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,613 | $1,097,405,000 | $419,979 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2,613 | $1,097,405,000 | $419,979 |