Valley National Bank closing costs and rates (2024)
In 2024, Valley National Bank originated 904 purchase mortgages at a median interest rate of 6.12% and median total closing costs of $4,992. That ranks #403 nationally by origination volume. For total closing costs among lenders with 500+ originations, Valley National Bank ranks #195. That is $1,749 below the national median of $6,741. Valley National Bank is most active in New York with 425 originations there.
Purchase Originations
904
Ranked #403 nationally
Median Total Costs
$4,992
−25.9% vs national ($6,741)
Median Rate
6.125%
−7.5% vs national (6.620%)
Median Origination
$1,295
Median Lender Credits
$22
Cost Rank (500+ vol.)
#195
among lenders with 500+ originations
Breakdown by loan type
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 868 | 6.125% | $4,920 | $1,295 |
| fha | 27 | 6.250% | $14,362 | $1,395 |
Active states
| State | Volume | Median Rate | Median Total Costs | State Rank |
|---|---|---|---|---|
| New York | 425 | 5.875% | $4,695 | #53 |
| New Jersey | 271 | 6.125% | $5,356 | #52 |
| Florida | 149 | 6.375% | $5,458 | #201 |
| Alabama | 26 | 6.250% | $3,523 | — |
| Pennsylvania | 10 | 6.625% | $6,232 | — |
| Connecticut | 5 | 6.625% | $5,860 | — |
| North Carolina | 5 | 6.625% | $5,141 | — |
| Massachusetts | 2 | 6.938% | $4,521 | — |
| South Carolina | 2 | 6.062% | $7,260 | — |
| Illinois | 1 | 7.000% | $6,648 | — |
| Kentucky | 1 | 6.750% | $4,343 | — |
| Louisiana | 1 | 6.000% | $5,546 | — |
| Maryland | 1 | 6.000% | $5,847 | — |
| Missouri | 1 | 7.000% | $4,762 | — |
| New Hampshire | 1 | 6.125% | $3,780 | — |
| Tennessee | 1 | 6.875% | $4,559 | — |
| Texas | 1 | 6.000% | $5,666 | — |
| Virginia | 1 | 6.875% | $4,813 | — |
Top counties by origination volume
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $3,296 | 6.250% | — | 26 | −$1,696 | |
| 2 | $3,565 | 6.125% | — | 35 | −$1,427 | |
| 3 | $4,122 | 6.375% | — | 27 | −$870 | |
| 4 | $4,281 | 5.875% | — | 16 | −$711 | |
| 5 | $4,405 | 5.875% | — | 63 | −$587 | |
| 6 | $4,444 | 6.188% | — | 20 | −$548 | |
| 7 | $4,464 | 5.875% | — | 68 | −$528 | |
| 8 | $4,519 | 5.750% | — | 93 | −$473 | |
| 9 | $4,915 | 5.875% | — | 100 | −$77 | |
| 10 | $5,076 | 5.875% | — | 37 | +$84 | |
| 11 | $5,144 | 5.875% | — | 28 | +$152 | |
| 12 | $5,229 | 6.875% | — | 21 | +$237 | |
| 13 | $5,246 | 6.250% | — | 14 | +$254 | |
| 14 | $5,307 | 6.750% | — | 16 | +$315 | |
| 15 | $5,378 | 6.625% | — | 15 | +$386 | |
| 16 | $5,429 | 6.125% | — | 22 | +$437 | |
| 17 | $5,443 | 5.875% | — | 34 | +$451 | |
| 18 | $5,538 | 6.375% | — | 29 | +$546 | |
| 19 | $5,962 | 6.500% | — | 28 | +$970 | |
| 20 | $9,115 | 6.375% | — | 23 | +$4,123 |
Includes lenders with 1+ purchase originations in top counties. Source: HMDA 2024. Sorted by median total loan costs.
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Data source: HMDA Modified Loan Application Register 2024, published by the Consumer Financial Protection Bureau (CFPB).
Statistics reflect originated first-lien purchase mortgages on owner-occupied principal residences. Medians exclude loans with exempt or unreported fee disclosures. Learn more at ffiec.cfpb.gov.