Valley First Credit Union Mortgage Lending & HMDA Data, 2022
In 2022, Valley First Credit Union of Modesto, CA reported 223 mortgage applications totaling $78.0 million, down 47% from 2021. The average application was for $349,753, and applicants reported an average income of $122,394. 55% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Modesto, CA (120), Stockton-Lodi, CA (26) and Fresno, CA (24) (applications in parentheses).
| Mortgage Company & Address | Valley First Credit Union 1005 W Orangeburg Ave Modesto, CA 95336 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 2022 2021 |
| Total Number of Mortgage Applications | 223 |
| Total Mortgage Loan Application Amount | $77,995,000 |
| Average Mortgage Loan Application Amount | $349,753 |
| Highest Mortgage Loan Application Amount | $2,505,000 |
| Average Applicant Income | $122,394 |
| Highest Applicant Income | $1,242,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Valley First Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Stanislaus, California | 120 | $ 37,990,000 | $ 316,583 | $ 106,000 |
| San Joaquin, California | 26 | $ 8,200,000 | $ 315,384 | $ 109,000 |
| Fresno, California | 24 | $ 7,700,000 | $ 320,833 | $ 113,000 |
| Sacramento, California | 15 | $ 8,185,000 | $ 545,666 | $ 203,000 |
| Merced, California | 7 | $ 2,145,000 | $ 306,428 | $ 102,000 |
| Tulare, California | 6 | $ 1,240,000 | $ 206,666 | $ 180,000 |
| Amador, California | 2 | $ 800,000 | $ 400,000 | $ 117,000 |
| Calaveras, California | 2 | $ 740,000 | $ 370,000 | $ 120,000 |
| Madera, California | 2 | $ 720,000 | $ 360,000 | $ 96,000 |
| Placer, California | 2 | $ 1,190,000 | $ 595,000 | $ 130,000 |
| Alameda, California | 1 | $ 325,000 | $ 325,000 | $ 131,000 |
| Butte, California | 1 | $ 445,000 | $ 445,000 | $ 80,000 |
| Kern, California | 1 | $ 265,000 | $ 265,000 | $ 145,000 |
| Kings, California | 1 | $ 315,000 | $ 315,000 | $ 105,000 |
| Plumas, California | 1 | $ 105,000 | $ 105,000 | $ 96,000 |
| San Bernardino, California | 1 | $ 135,000 | $ 135,000 | $ 40,000 |
| San Francisco, California | 1 | $ 485,000 | $ 485,000 | $ 120,000 |
| Santa Clara, California | 1 | $ 745,000 | $ 745,000 | $ 271,000 |
| Solano, California | 1 | $ 625,000 | $ 625,000 | $ 117,000 |
| Fayette, Kentucky | 1 | $ 645,000 | $ 645,000 | $ 245,000 |
| Jefferson, Kentucky | 1 | $ 295,000 | $ 295,000 | $ 0 |
| Cole, Missouri | 1 | $ 155,000 | $ 155,000 | $ 100,000 |
| Washoe, Nevada | 1 | $ 2,505,000 | $ 2,505,000 | $ 1,242,000 |
| Linn, Oregon | 1 | $ 635,000 | $ 635,000 | $ 281,000 |
| Marion, Oregon | 1 | $ 515,000 | $ 515,000 | $ 124,000 |
| Denton, Texas | 1 | $ 445,000 | $ 445,000 | $ 94,000 |
| Tarrant, Texas | 1 | $ 445,000 | $ 445,000 | $ 94,000 |
Mortgage Loan Application Detail Totals for Valley First Credit Union in 2022
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 |
|---|---|---|---|---|---|---|
| Cash-out Refinancing | 108 | $31,160,000 | $288,000 | $1,455,000 | $99,000 | $756,000 |
| Home Purchase | 82 | $37,260,000 | $454,000 | $2,505,000 | $154,000 | $1,242,000 |
| Refinancing | 28 | $8,390,000 | $299,000 | $745,000 | $123,000 | $520,000 |
| Home Improvement | 5 | $1,185,000 | $237,000 | $325,000 | $106,000 | $225,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 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 |
|---|---|---|---|---|---|---|
| Not Provided | 73 | $22,615,000 | $309,000 | $1,215,000 | $107,000 | $520,000 |
| White | 66 | $26,330,000 | $398,000 | $2,505,000 | $162,000 | $1,242,000 |
| Hispanic | 50 | $15,200,000 | $304,000 | $545,000 | $88,000 | $225,000 |
| Asian | 16 | $8,140,000 | $508,000 | $805,000 | $148,000 | $271,000 |
| Black or African American | 9 | $3,815,000 | $423,000 | $635,000 | $128,000 | $232,000 |
| American Indian or Alaskan Native | 6 | $1,290,000 | $215,000 | $315,000 | $96,000 | $215,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $340,000 | $170,000 | $255,000 | $66,000 | $103,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
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) | 222 | $77,550,000 | $349,000 | $2,505,000 | $123,000 | $1,242,000 |
| VA-guaranteed (Veterans Administration) | 1 | $445,000 | $445,000 | $445,000 | $80,000 | $80,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 123 | $44,215,000 | $359,000 | $2,505,000 | $123,000 | $1,242,000 |
| Application Withdrawn By Applicant | 40 | $11,970,000 | $299,000 | $645,000 | $120,000 | $498,000 |
| Application Approved But Not Accepted | 22 | $9,110,000 | $414,000 | $1,215,000 | $131,000 | $408,000 |
| Application Denied By Financial Institution | 19 | $5,505,000 | $289,000 | $545,000 | $83,000 | $178,000 |
| File Closed For Incompleteness | 19 | $7,195,000 | $378,000 | $1,455,000 | $155,000 | $527,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 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 | 204 | $72,490,000 | $355,000 | $2,505,000 | $126,000 | $1,242,000 |
| Debt-To-Income Ratio | 8 | $2,350,000 | $293,000 | $545,000 | $88,000 | $178,000 |
| Credit History | 6 | $1,700,000 | $283,000 | $415,000 | $78,000 | $100,000 |
| Collateral | 2 | $700,000 | $350,000 | $445,000 | $96,000 | $99,000 |
| Employment History | 1 | $265,000 | $265,000 | $265,000 | $36,000 | $36,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $165,000 | $165,000 | $165,000 | $78,000 | $78,000 |
| Unverifiable Information | 1 | $325,000 | $325,000 | $325,000 | $98,000 | $98,000 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Valley First Credit Union's 2022 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 First 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 California, download the full spreadsheet
with aggregated HMDA statistics today.
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