Valley Financial Credit Union Mortgage Lending & HMDA Data, 2024
In 2024, Valley Financial Credit Union of Billings, MT reported 474 mortgage applications totaling $77.6 million, up 35% from 2023. The average application was for $163,691, and applicants reported an average income of $122,571. 77% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Billings, MT (354), Bozeman, MT (32) and Helena, MT (3) (applications in parentheses).
| Mortgage Company & Address | Valley Financial Credit Union Po Box 20417 Billings, MT 59102 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 474 |
| Total Mortgage Loan Application Amount | $77,590,000 |
| Average Mortgage Loan Application Amount | $163,691 |
| Highest Mortgage Loan Application Amount | $1,945,000 |
| Average Applicant Income | $122,571 |
| Highest Applicant Income | $848,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Valley Financial Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Yellowstone, Montana | 320 | $ 51,370,000 | $ 160,531 | $ 120,000 |
| Gallatin, Montana | 32 | $ 8,630,000 | $ 269,687 | $ 199,000 |
| Park, Wyoming | 29 | $ 2,645,000 | $ 91,206 | $ 105,000 |
| Stillwater, Montana | 20 | $ 2,420,000 | $ 121,000 | $ 134,000 |
| Carbon, Montana | 14 | $ 2,750,000 | $ 196,428 | $ 174,000 |
| Musselshell, Montana | 8 | $ 500,000 | $ 62,500 | $ 120,000 |
| Custer, Montana | 4 | $ 680,000 | $ 170,000 | $ 148,000 |
| Silver Bow, Montana | 4 | $ 710,000 | $ 177,500 | $ 132,000 |
| Maricopa, Arizona | 1 | $ 505,000 | $ 505,000 | $ 0 |
| Big Horn, Montana | 1 | $ 45,000 | $ 45,000 | $ 75,000 |
| Broadwater, Montana | 1 | $ 25,000 | $ 25,000 | $ 152,000 |
| Cascade, Montana | 1 | $ 425,000 | $ 425,000 | $ 96,000 |
| Fergus, Montana | 1 | $ 385,000 | $ 385,000 | $ 133,000 |
| Golden Valley, Montana | 1 | $ 35,000 | $ 35,000 | $ 76,000 |
| Jefferson, Montana | 1 | $ 65,000 | $ 65,000 | $ 199,000 |
| Lewis and Clark, Montana | 1 | $ 275,000 | $ 275,000 | $ 613,000 |
| Park, Montana | 1 | $ 305,000 | $ 305,000 | $ 215,000 |
| Phillips, Montana | 1 | $ 105,000 | $ 105,000 | $ 89,000 |
| Richland, Montana | 1 | $ 195,000 | $ 195,000 | $ 89,000 |
| Treasure, Montana | 1 | $ 375,000 | $ 375,000 | $ 98,000 |
| Albany, Wyoming | 1 | $ 325,000 | $ 325,000 | $ 179,000 |
Mortgage Loan Application Detail Totals for Valley Financial Credit Union in 2024
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Improvement | 152 | $13,040,000 | $85,000 | $1,105,000 | $132,000 | $448,000 |
| Cash-out Refinancing | 147 | $18,125,000 | $123,000 | $1,295,000 | $121,000 | $613,000 |
| Home Purchase | 144 | $37,390,000 | $259,000 | $925,000 | $120,000 | $848,000 |
| Refinancing | 16 | $2,240,000 | $140,000 | $415,000 | $103,000 | $225,000 |
| Other Purpose | 15 | $6,795,000 | $453,000 | $1,945,000 | $88,000 | $143,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 388 | $57,230,000 | $147,000 | $1,105,000 | $125,000 | $848,000 |
| Not Provided | 36 | $8,920,000 | $247,000 | $1,945,000 | $156,000 | $326,000 |
| Not applicable | 27 | $8,475,000 | $313,000 | $1,295,000 | $0 | $0 |
| Hispanic | 11 | $1,365,000 | $124,000 | $495,000 | $79,000 | $141,000 |
| American Indian or Alaskan Native | 4 | $300,000 | $75,000 | $185,000 | $50,000 | $60,000 |
| Black or African American | 4 | $610,000 | $152,000 | $305,000 | $91,000 | $197,000 |
| Asian | 3 | $635,000 | $211,000 | $405,000 | $88,000 | $147,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $55,000 | $55,000 | $55,000 | $108,000 | $108,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 472 | $77,000,000 | $163,000 | $1,945,000 | $124,000 | $848,000 |
| FHA-insured (Federal Housing Administration) | 1 | $165,000 | $165,000 | $165,000 | $66,000 | $66,000 |
| VA-guaranteed (Veterans Administration) | 1 | $425,000 | $425,000 | $425,000 | $170,000 | $170,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 363 | $65,425,000 | $180,000 | $1,945,000 | $137,000 | $848,000 |
| Application Denied By Financial Institution | 81 | $7,405,000 | $91,000 | $425,000 | $85,000 | $225,000 |
| Preapproval Denied by Financial Institution | 19 | $2,665,000 | $140,000 | $495,000 | $55,000 | $130,000 |
| File Closed For Incompleteness | 7 | $965,000 | $137,000 | $425,000 | $150,000 | $200,000 |
| Application Withdrawn By Applicant | 3 | $465,000 | $155,000 | $305,000 | $148,000 | $288,000 |
| Preapproval Approved but not Accepted | 1 | $665,000 | $665,000 | $665,000 | $242,000 | $242,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 374 | $67,520,000 | $180,000 | $1,945,000 | $138,000 | $848,000 |
| Debt-To-Income Ratio | 50 | $4,750,000 | $95,000 | $405,000 | $82,000 | $171,000 |
| Credit History | 40 | $4,360,000 | $109,000 | $495,000 | $78,000 | $167,000 |
| Collateral | 6 | $420,000 | $70,000 | $145,000 | $55,000 | $83,000 |
| Employment History | 2 | $160,000 | $80,000 | $105,000 | $67,000 | $86,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $380,000 | $190,000 | $235,000 | $113,000 | $225,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Valley Financial Credit Union's 2024 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Valley Financial Credit Union's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Montana, download the full spreadsheet
with aggregated HMDA statistics today.
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