Valley National Bank Mortgage Rates, Fees & Info
Passaic, NJLEI: KI0VI4JRMCIJ329YTN75
Tax ID: 22-1186387
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Valley National Bank is a mid-sized bank specializing in Home Purchase and Cash Out Refi 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, Philadelphia, Miami, and Chicago among others. We have data for 110 markets. (Some data included below & more in-depth data is available with an active subscription.)Valley National Bank 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 National Bank 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.
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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.43% | 1/26/25 |
| 30 Year Conventional Purchase | 6.21% | 1/26/25 |
| 30 Year Conventional Refi | 6.40% | 1/26/25 |
| 30 Year Cash-out Refi | 6.50% | 1/26/25 |
| 30 Year FHA Purchase | 7.29% | 1/26/25 |
| 30 Year FHA Refi | 6.27% | 1/26/25 |
| 30 Year VA Purchase | 6.51% | 1/26/25 |
| 30 Year USDA Purchase | 6.75% | 1/26/25 |
| 15 Year Conventional Purchase | 5.97% | 1/26/25 |
| 15 Year Conventional Refi | 5.97% | 1/26/25 |
| 15 Year Cash-out Refi | 5.97% | 1/26/25 |
| 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
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Valley National Bank. 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
5,649Origination Dollar Volume (All Markets)
$4,768,645,000Awards
Valley National Bank - 2022
Valley National Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
Work for Valley National Bank?
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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3,499 | $2,779,735,000 | $794,437 | $4,623 | 4.18% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 425 | $309,595,000 | $728,459 | $5,540 | 4.29% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 65 | $298,185,000 | $4,587,462 | $4,620 | 4.35% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 385 | $252,825,000 | $656,688 | $6,507 | 4.45% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 13 | $98,345,000 | $7,565,000 | $6,284 | 4.45% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 111 | $82,515,000 | $743,378 | $5,884 | 4.03% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 8 | $74,100,000 | $9,262,500 | $12,992 | 4.77% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 102 | $73,330,000 | $718,922 | $6,428 | 4.21% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $61,005,000 | $61,005,000 | $0 | 6.09% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 79 | $51,655,000 | $653,861 | $4,097 | 4.61% |
| JACKSON, MS (FHA|USDA|VA) | 2 | $44,510,000 | $22,255,000 | $0 | 5.31% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 152 | $43,470,000 | $285,987 | $5,556 | 4.39% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 36 | $39,650,000 | $1,101,389 | $5,990 | 4.46% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $36,170,000 | $18,085,000 | $4,799 | 4.06% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 2 | $35,010,000 | $17,505,000 | $0 | 5.31% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 84 | $34,810,000 | $414,405 | $5,179 | 4.52% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $28,805,000 | $28,805,000 | $0 | 2.90% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 87 | $26,465,000 | $304,195 | $4,981 | 4.34% |
| Athens, OH (FHA|USDA|VA) | 1 | $25,605,000 | $25,605,000 | $0 | 5.79% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 48 | $25,260,000 | $526,250 | $3,407 | 4.38% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 64 | $24,230,000 | $378,594 | $2,124 | 4.20% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $22,345,000 | $7,448,333 | $8,207 | 5.27% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $22,255,000 | $22,255,000 | $0 | 3.50% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $15,005,000 | $15,005,000 | $0 | 3.89% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $13,505,000 | $13,505,000 | $0 | 4.75% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 35 | $13,475,000 | $385,000 | $7,935 | 4.20% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 18 | $13,140,000 | $730,000 | $7,225 | 4.26% |
| Outside of Metro Areas | 27 | $12,715,000 | $470,926 | $5,409 | 4.67% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $11,805,000 | $11,805,000 | $0 | 3.35% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 35 | $9,425,000 | $269,286 | $4,275 | 4.13% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 22 | $9,340,000 | $424,545 | $7,561 | 4.90% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $9,005,000 | $9,005,000 | $0 | 5.33% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 3 | $8,775,000 | $2,925,000 | $8,347 | 4.67% |
| KINGSTON, NY (FHA|USDA|VA) | 22 | $8,270,000 | $375,909 | $6,075 | 4.50% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 23 | $7,875,000 | $342,391 | $5,122 | 4.36% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 3 | $6,885,000 | $2,295,000 | $5,495 | 5.11% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $6,535,000 | $6,535,000 | $0 | 3.50% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $6,205,000 | $6,205,000 | $0 | 6.80% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 25 | $5,795,000 | $231,800 | $3,564 | 4.92% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $5,565,000 | $1,855,000 | $5,018 | 5.33% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 22 | $5,280,000 | $240,000 | $3,917 | 4.73% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 21 | $5,015,000 | $238,810 | $2,396 | 4.21% |
| MONTGOMERY, AL (FHA|USDA|VA) | 25 | $5,015,000 | $200,600 | $3,404 | 4.32% |
| GAINESVILLE, FL (FHA|USDA|VA) | 6 | $5,010,000 | $835,000 | $2,984 | 4.25% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 6 | $4,600,000 | $766,667 | $5,765 | 5.05% |
| OCALA, FL (FHA|USDA|VA) | 6 | $4,530,000 | $755,000 | $6,858 | 4.45% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 6 | $4,420,000 | $736,667 | $6,124 | 3.81% |
| Key West, FL (FHA|USDA|VA) | 9 | $4,255,000 | $472,778 | $8,528 | 3.96% |
| Sevierville, TN (FHA|USDA|VA) | 5 | $4,185,000 | $837,000 | $6,117 | 4.33% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 7 | $4,005,000 | $572,143 | $5,092 | 4.55% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 15 | $3,815,000 | $254,333 | $3,388 | 4.03% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 2 | $3,480,000 | $1,740,000 | $8,871 | 4.11% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 5 | $3,395,000 | $679,000 | $5,066 | 4.73% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $3,365,000 | $3,365,000 | $0 | 3.75% |
| ASHEVILLE, NC (FHA|USDA|VA) | 4 | $3,260,000 | $815,000 | $4,490 | 4.81% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 1 | $3,255,000 | $3,255,000 | $0 | 5.27% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $2,855,000 | $2,855,000 | $0 | 4.30% |
| GLENS FALLS, NY (FHA|USDA|VA) | 3 | $2,795,000 | $931,667 | $7,688 | 4.29% |
| Alexander City, AL (FHA|USDA|VA) | 15 | $2,765,000 | $184,333 | $3,606 | 4.63% |
| ROCHESTER, NY (FHA|USDA|VA) | 5 | $2,645,000 | $529,000 | $4,062 | 4.22% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $2,625,000 | $2,625,000 | $0 | 5.03% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 4 | $2,620,000 | $655,000 | $11,355 | 5.34% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $2,230,000 | $1,115,000 | $6,420 | 4.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $2,095,000 | $419,000 | $4,346 | 4.48% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $10,538 | 5.50% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 4 | $1,650,000 | $412,500 | $5,061 | 4.84% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $1,620,000 | $810,000 | $5,651 | 3.94% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 5 | $1,595,000 | $319,000 | $4,630 | 4.05% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $11,542 | 2.88% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $1,410,000 | $705,000 | $7,332 | 4.19% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 3 | $1,365,000 | $455,000 | $8,208 | 3.96% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 4 | $1,310,000 | $327,500 | $6,264 | 4.50% |
| LaGrange, GA-AL (FHA|USDA|VA) | 4 | $1,210,000 | $302,500 | $6,607 | 5.41% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 3 | $1,165,000 | $388,333 | $3,972 | 5.13% |
| THE VILLAGES, FL (FHA|USDA|VA) | 4 | $1,120,000 | $280,000 | $4,536 | 5.06% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $1,075,000 | $1,075,000 | $0 | 4.86% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 6 | $1,030,000 | $171,667 | $2,354 | 4.94% |
| Hudson, NY (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $499 | 4.42% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $3,724 | 4.08% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $3,736 | 6.75% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $8,930 | 4.81% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $2,346 | 5.50% |
| Heber, UT (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 6.95% |
| Torrington, CT (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $5,123 | 5.88% |
| Concord, NH (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,781 | 5.38% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,941 | 3.25% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,263 | 5.13% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 3.00% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 5.00% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,761 | 5.13% |
| Gloversville, NY (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $6,297 | 3.00% |
| Bennington, VT (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 4.38% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,851 | 5.13% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,006 | 2.75% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,492 | 5.50% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,277 | 5.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,643 | 5.38% |
| Forest City, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,726 | 5.63% |
| Cullman, AL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 5.25% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 3.88% |
| Fernley, NV (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,290 | 3.88% |
| Batavia, NY (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $3,042 | 4.13% |
| Bradford, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,671 | 5.50% |
| Prineville, OR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.38% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 3.63% |
| Corning, NY (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 3.00% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 7.63% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.75% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $499 | 2.50% |
| Palatka, FL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 3.88% |
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.
Similarity Rank: 24
Similarity Rank: 30
Similarity Rank: 51
Similarity Rank: 94
Similarity Rank: 124
Similarity Rank: 142
Similarity Rank: 156
Similarity Rank: 168
Similarity Rank: 201
Similarity Rank: 216
Product Mix
For 2022, Valley National Bank's most frequently originated type of loan was Conventional, with 3,834 originations. Their 2nd most popular type was HELOC, with 1,767 originations.
Loan Reason
For 2022, Valley National Bank's most frequently cited loan purpose was Home Purchase, with 2,150 originations. The 2nd most popular reason was Home Improvement, with 1,425 originations.
Loan Duration/Length
For 2022, Valley National Bank's most frequently cited loan duration was 30 Year, with 4,282 originations. The 2nd most popular length was 20 Year, with 412 originations.
Origination Fees/Closing Costs
Valley National Bank's average total fees were $6,174, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,628 originations.
Interest Rates
During 2022, Valley National Bank's average interest rate for loans was 4.27%, while their most frequently originated rate bucket for loans was 3-4%, with 1,984 originations.
Loan Sizing
2022 saw Valley National Bank place emphasis on $200k-400k loans with 1,646 originations, totaling $485,750,000 in origination value.
Applicant Income
Valley National Bank lent most frequently to those with incomes in the $250k+ range, with 1,542 originations. The second most popular income band? $150k-250k, with 1,303 originations.
Applicant Debt to Income Ratio
Valley National Bank lent most frequently to those with DTI ratios of 20-30%, with 1,090 originations. The next most common DTI ratio? 30-36%, with 1,059 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.98%
Valley National Bank has an average approval rate.
Pick Rate
Approvals leading to origination64.56%
Valley National Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 5,649 | $4,768,645,000 | $844,157 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5,649 | $4,768,645,000 | $844,157 |