Bakersfield VA Loan Rates, Closing Costs & Stats

BAKERSFIELD, CA

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Bakersfield's 95 lenders originated 830 VA loans during 2023. The total origination value was $300,060,000, with an average VA loan value of $361,518.

    Bakersfield VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Bakersfield averaged 6.25% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Bakersfield's average VA mortgage closing costs are $6,182.

    The average rate for the prior week (2024-11-01) was 6.61% and one month ago for the week of 2024-10-04, the average rate was 5.73%.

    The average rate one year ago was 7.29%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.62%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Bakersfield VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bakersfield level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 120 6.62% $6,088
    UNITED WHOLESALE MORTGAGE, LLC 95 6.17% $9,200
    QUICKEN LOANS, LLC 55 6.24% $12,212
    LOANDEPOT.COM, LLC 36 6.36% $12,117
    NAVY FEDERAL CREDIT UNION 32 5.85% $5,411
    FREEDOM MORTGAGE CORPORATION 22 6.44% $13,573
    PENNYMAC LOAN SERVICES, LLC 20 5.78% $9,511
    EAGLE HOME MORTGAGE, LLC 20 5.88% $4,486
    Sierra Pacific Mortgage Company, Inc. 20 6.17% $9,551
    AMERICAN FINANCIAL NETWORK, INC. 18 6.03% $6,714
    GUARANTEED RATE, INC. 17 6.31% $6,017
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 6.58% $9,422
    DIGNIFIED HOME LOANS, LLC 15 6.28% $12,964
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 13 5.91% $6,482
    CROSSCOUNTRY MORTGAGE, LLC 13 6.46% $10,410
    GUILD MORTGAGE COMPANY 12 5.81% $9,147
    Nations Lending Corporation 12 6.70% $10,897
    DRAPER AND KRAMER MORTGAGE CORP. 11 5.72% $13,591
    DHI MORTGAGE COMPANY, LTD. 11 5.53% $9,560
    The Federal Savings Bank 10 6.41% $15,793
    Paramount Residential Mortgage Group, Inc. 9 6.82% $14,674
    VILLAGE CAPITAL MORTGAGE 9 6.46% $10,151
    Century Mortgage Company DBA Century Lending Company 9 6.40% $9,505
    NEWREZ LLC 8 6.55% $10,580
    Equity Prime Mortgage LLC 8 6.67% $11,190
    BROKER SOLUTIONS, INC. 8 6.31% $10,836
    MOVEMENT MORTGAGE, LLC 8 6.14% $7,879
    FBC MORTGAGE, LLC 8 5.17% $12,600
    USAA Federal Savings Bank 8 6.19% $7,730
    AMERICAN PACIFIC MORTGAGE CORPORATION 8 6.78% $10,921
    AUGUSTA FINANCIAL, INC. 7 6.41% $8,654
    MICHIGAN MUTUAL, INC. 7 6.77% $7,961
    LOANPAL, LLC 6 6.00% $11,854
    MOUNTAIN WEST FINANCIAL, INC. 6 6.50% $14,077
    Wells Fargo Bank 5 5.85% $8,826
    MLD MORTGAGE INC. 5 6.60% $7,726
    MORTGAGE MANAGEMENT CONSULTANTS, INC. 5 6.72% $6,711
    PLANET HOME LENDING, LLC 5 4.93% $7,128
    American Mortgage & Equity Consultants, Inc. 4 6.62% $4,794
    Mr. Cooper ( Nationstar Mortgage ) 4 5.88% $11,588
    SECURITYNATIONAL MORTGAGE COMPANY 4 6.06% $13,431
    NEW DAY FINANCIAL, LLC 4 7.37% $15,838
    CMG MORTGAGE, INC. 3 6.54% $5,968
    SUMMIT FUNDING, INC. 3 6.00% $3,976
    Magnolia Bank 3 6.83% $15,234
    Golden Empire Mortgage, Inc. 3 6.13% $12,740
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.04% $5,732
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.94% $7,369
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.19% $9,704
    AMERISAVE MORTGAGE CORPORATION 2 5.63% $11,075
    Flagstar Bank, FSB 2 7.25% $20,805
    ALAMEDA MORTGAGE CORPORATION 2 5.94% $17,921
    Plains Commerce Bank 2 5.81% $10,981
    POINT Mortgage 2 7.25% $8,443
    JMJ FINANCIAL GROUP 2 6.44% $13,026
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 7.00% $1,102
    MASON MCDUFFIE MORTGAGE CORPORATION 2 6.00% $10,052
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 2 7.31% $16,920
    NETWORK CAPITAL FUNDING CORPORATION 2 6.13% $12,898
    SOVEREIGN LENDING GROUP INCORPORATED 2 5.00% $16,670
    OCMBC, INC. 2 6.94% $15,166
    PREMIA MORTGAGE, LLC 1 6.75% $7,546
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $17,312
    BNC National Bank 1 4.63% $9,183
    ROYAL UNITED MORTGAGE LLC 1 6.25% $14,337
    BMO Harris Bank 1 7.25% $19,206
    SUN WEST MORTGAGE COMPANY, INC. 1 6.00% $6,472
    Bank of England 1 5.25% $6,221
    TJC Mortgage, Inc. 1 5.63% $9,903
    U.S. Bank 1 6.63% $5,552
    HOME APPROVALS DIRECT, INC. 1 7.75% $23,056
    HOMESIDE FINANCIAL, LLC 1 6.25% $12,159
    HomePromise Corporation 1 7.50% $12,423
    HomeStreet Bank 1 7.63% $3,464
    iCore Lending, Inc. 1 6.25% $5,617
    JMAC LENDING, INC. 1 5.13% $8,904
    JPMorgan Chase Bank 1 6.99% $8,783
    HighTechLending Inc 1 6.63% $5,916
    LADERA LENDING, INC. 1 6.63% $17,111
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $6,157
    GENEVA FINANCIAL, LLC 1 6.25% $150
    FRONTWAVE 1 5.38% $3,172
    Watermark Capital, Inc. 1 5.75% $4,498
    MORTGAGEONE, INC. 1 7.25% $12,899
    Franklin Loan Corporation 1 6.25% $20,924
    Farmers Bank & Trust 1 5.38% $4,143
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $11,607
    ENVOY MORTGAGE, LTD 1 6.25% $4,886
    DAS Acquisition Company, LLC 1 7.50% $8,798
    NBKC BANK 1 5.50% $12,743
    Carrington Mortgage Services, LLC 1 5.13% $2,790
    CALIBER HOME LOANS, INC. 1 6.25% $7,122
    PENTAGON FEDERAL CREDIT UNION 1 6.25% $19,565
    Platinum Home Mortgage Corporation 1 6.25% $18,897
    PLAZA HOME MORTGAGE, INC. 1 5.63% $10,777

    The top Bakersfield VA lender as defined by loan originations is Mortgage Research Center, LLC, with 120 VA loans originated. Their average total fees are $6,088, which is $3,111 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Bakersfield VA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC ($4,486), NAVY FEDERAL CREDIT UNION ($5,411), GUARANTEED RATE, INC. ($6,017), Mortgage Research Center, LLC ($6,088) and K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. ($6,482).

    The lowest rate Bakersfield VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.53%), DRAPER AND KRAMER MORTGAGE CORP. (5.72%), PENNYMAC LOAN SERVICES, LLC (5.78%), GUILD MORTGAGE COMPANY (5.81%) and NAVY FEDERAL CREDIT UNION (5.85%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Bakersfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $236,097 (4.9%) $279,801 (2.9%) 0.88 2,062
    2018-02-01 $239,950 (4.8%) $280,656 (1.8%) 0.87 2,097
    2018-03-01 $250,000 (5.0%) $289,500 (2.2%) 0.88 2,130
    2018-04-01 $259,450 (5.9%) $293,811 (1.4%) 0.88 2,227
    2018-05-01 $262,450 (5.2%) $297,692 (2.6%) 0.88 2,229
    2018-06-01 $263,000 (5.2%) $296,432 (2.6%) 0.88 2,343
    2018-07-01 $259,900 (4.0%) $293,478 (2.0%) 0.87 2,441
    2018-08-01 $256,500 (2.9%) $290,070 (1.6%) 0.86 2,511
    2018-09-01 $254,900 (2.4%) $290,435 (2.2%) 0.86 2,561
    2018-10-01 $250,000 (0.7%) $288,148 (0.9%) 0.85 2,495
    2018-11-01 $249,900 (2.5%) $286,401 (1.1%) 0.85 2,437
    2018-12-01 $249,000 (4.2%) $285,236 (0.6%) 0.86 2,274
    2019-01-01 $245,000 (3.8%) $282,141 (0.8%) 0.85 2,087
    2019-02-01 $245,000 (2.1%) $283,726 (1.1%) 0.83 2,072
    2019-03-01 $252,400 (1.0%) $292,326 (1.0%) 0.83 2,109
    2019-04-01 $261,308 (0.7%) $303,499 (3.3%) 0.83 2,189
    2019-05-01 $262,950 (0.2%) $304,467 (2.3%) 0.82 2,273
    2019-06-01 $264,900 (0.7%) $304,527 (2.7%) 0.83 2,353
    2019-07-01 $266,913 (2.7%) $306,832 (4.6%) 0.84 2,387
    2019-08-01 $262,818 (2.5%) $304,078 (4.8%) 0.83 2,346
    2019-09-01 $259,545 (1.8%) $303,742 (4.6%) 0.83 2,247
    2019-10-01 $258,089 (3.2%) $303,664 (5.4%) 0.83 2,173
    2019-11-01 $258,700 (3.5%) $308,427 (7.7%) 0.85 2,035
    2019-12-01 $258,500 (3.8%) $377,201 (32.2%) 0.86 1,861
    2020-01-01 $259,450 (5.9%) $305,015 (8.1%) 0.87 1,646
    2020-02-01 $259,900 (6.1%) $315,114 (11.1%) 0.85 1,583
    2020-03-01 $269,950 (7.0%) $324,409 (11.0%) 0.85 1,608
    2020-04-01 $269,450 (3.1%) $320,455 (5.6%) 0.84 1,670
    2020-05-01 $269,900 (2.6%) $324,868 (6.7%) 0.82 1,596
    2020-06-01 $271,238 (2.4%) $333,511 (9.5%) 0.80 1,413
    2020-07-01 $279,950 (4.9%) $344,330 (12.2%) 0.81 1,286
    2020-08-01 $295,000 (12.2%) $349,328 (14.9%) 0.85 1,139
    2020-09-01 $300,000 (15.6%) $362,750 (19.4%) 0.86 1,172
    2020-10-01 $299,900 (16.2%) $364,117 (19.9%) 0.86 1,164
    2020-11-01 $299,900 (15.9%) $353,211 (14.5%) 0.88 1,075
    2020-12-01 $287,000 (11.0%) $337,567 (-10.5%) 0.85 1,002
    2021-01-01 $279,000 (7.5%) $330,098 (8.2%) 0.83 891
    2021-02-01 $284,500 (9.5%) $345,197 (9.6%) 0.83 774
    2021-03-01 $294,995 (9.3%) $353,470 (9.0%) 0.84 722
    2021-04-01 $300,500 (11.5%) $353,987 (10.5%) 0.81 751
    2021-05-01 $315,000 (16.7%) $374,042 (15.1%) 0.84 742
    2021-06-01 $313,250 (15.5%) $380,198 (14.0%) 0.82 838
    2021-07-01 $320,000 (14.3%) $380,927 (10.6%) 0.84 983
    2021-08-01 $320,000 (8.5%) $379,666 (8.7%) 0.85 1,116
    2021-09-01 $318,850 (6.3%) $379,643 (4.7%) 0.85 1,127
    2021-10-01 $329,900 (10.0%) $389,873 (7.1%) 0.88 1,173
    2021-11-01 $337,000 (12.4%) $399,366 (13.1%) 0.90 1,027
    2021-12-01 $339,950 (18.5%) $407,211 (20.6%) 0.92 919
    2022-01-01 $339,500 (21.7%) $406,001 (23.0%) 0.92 799
    2022-02-01 $349,450 (22.8%) $418,366 (21.2%) 0.91 746
    2022-03-01 $359,500 (21.9%) $424,585 (20.1%) 0.90 754
    2022-04-01 $365,000 (21.5%) $434,600 (22.8%) 0.87 874
    2022-05-01 $389,487 (23.7%) $444,796 (18.9%) 0.89 1,178
    2022-06-01 $399,450 (27.5%) $440,618 (15.9%) 0.89 1,393
    2022-07-01 $390,000 (21.9%) $434,997 (14.2%) 0.88 1,618
    2022-08-01 $389,600 (21.8%) $430,160 (13.3%) 0.90 1,699
    2022-09-01 $387,529 (21.5%) $431,012 (13.5%) 0.91 1,746
    2022-10-01 $380,000 (15.2%) $426,760 (9.5%) 0.89 1,795
    2022-11-01 $375,000 (11.3%) $427,854 (7.1%) 0.90 1,757
    2022-12-01 $370,000 (8.8%) $425,437 (4.5%) 0.91 1,488
    2023-01-01 $374,700 (10.4%) $423,949 (4.4%) 0.93 1,315
    2023-02-01 $374,504 (7.2%) $424,486 (1.5%) 0.90 1,172
    2023-03-01 $380,000 (5.7%) $431,359 (1.6%) 0.90 1,009
    2023-04-01 $390,000 (6.9%) $446,409 (2.7%) 0.91 922
    2023-05-01 $390,000 (0.1%) $450,690 (1.3%) 0.88 1,024
    2023-06-01 $392,500 (-1.7%) $456,789 (3.7%) 0.88 1,063
    2023-07-01 $399,000 (2.3%) $452,936 (4.1%) 0.91 1,130
    2023-08-01 $389,963 (0.1%) $444,484 (3.3%) 0.90 1,243
    2023-09-01 $385,000 (-0.7%) $436,210 (1.2%) 0.90 1,339
    2023-10-01 $379,950 (0.0%) $436,371 (2.3%) 0.89 1,380
    2023-11-01 $385,000 (2.7%) $445,210 (4.1%) 0.92 1,407
    2023-12-01 $384,450 (3.9%) $441,401 (3.8%) 0.94 1,325
    2024-01-01 $382,224 (2.0%) $440,229 (3.8%) 0.93 1,208
    2024-02-01 $379,950 (1.5%) $438,812 (3.4%) 0.91 1,157
    2024-03-01 $385,000 (1.3%) $440,785 (2.2%) 0.91 1,180
    2024-04-01 $397,000 (1.8%) $443,653 (-0.6%) 0.92 1,261
    2024-05-01 $408,613 (4.8%) $459,613 (2.0%) 0.92 1,330
    2024-06-01 $408,000 (4.0%) $462,614 (1.3%) 0.92 1,422
    2024-07-01 $402,473 (0.9%) $465,077 (2.7%) 0.92 1,563
    2024-08-01 $399,999 (2.6%) $462,909 (4.2%) 0.93 1,613
    2024-09-01 $399,995 (3.9%) $461,648 (5.8%) 0.94 1,689
    2024-10-01 $399,995 (5.3%) $453,780 (4.0%) 0.94 1,810
    Bakersfield's median listing price for 2024-10-01 was $399,995, a difference of $20,045 (5.3%) versus the prior year and $0 versus the prior month.

    Bakersfield's median listing price comes in at 94% of the national average.

    Bakersfield's average listing price for 2024-10-01 was $453,780, a difference of $17,409 (4.0%) versus the prior year and $-7,868 versus the prior month.

    For the 2024-10-01 period, Bakersfield had 1,810 MLS listings, a difference of 121 listings (7%) versus the prior month and 430 listings (31%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Bakersfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 62 days 1,708 sqft
    2018-02-01 41 days 1,714 sqft
    2018-03-01 40 days 1,746 sqft
    2018-04-01 43 days 1,761 sqft
    2018-05-01 43 days 1,782 sqft
    2018-06-01 44 days 1,774 sqft
    2018-07-01 45 days 1,770 sqft
    2018-08-01 46 days 1,744 sqft
    2018-09-01 46 days 1,739 sqft
    2018-10-01 53 days 1,707 sqft
    2018-11-01 56 days 1,693 sqft
    2018-12-01 64 days 1,682 sqft
    2019-01-01 66 days 1,667 sqft
    2019-02-01 51 days 1,670 sqft
    2019-03-01 45 days 1,707 sqft
    2019-04-01 43 days 1,746 sqft
    2019-05-01 40 days 1,747 sqft
    2019-06-01 44 days 1,736 sqft
    2019-07-01 44 days 1,747 sqft
    2019-08-01 46 days 1,724 sqft
    2019-09-01 48 days 1,701 sqft
    2019-10-01 51 days 1,688 sqft
    2019-11-01 53 days 1,685 sqft
    2019-12-01 58 days 1,676 sqft
    2020-01-01 61 days 1,676 sqft
    2020-02-01 42 days 1,684 sqft
    2020-03-01 39 days 1,716 sqft
    2020-04-01 46 days 1,702 sqft
    2020-05-01 54 days 1,698 sqft
    2020-06-01 47 days 1,708 sqft
    2020-07-01 36 days 1,713 sqft
    2020-08-01 33 days 1,762 sqft
    2020-09-01 31 days 1,789 sqft
    2020-10-01 34 days 1,759 sqft
    2020-11-01 36 days 1,709 sqft
    2020-12-01 39 days 1,632 sqft
    2021-01-01 40 days 1,605 sqft
    2021-02-01 32 days 1,600 sqft
    2021-03-01 23 days 1,605 sqft
    2021-04-01 22 days 1,620 sqft
    2021-05-01 21 days 1,666 sqft
    2021-06-01 22 days 1,648 sqft
    2021-07-01 22 days 1,633 sqft
    2021-08-01 27 days 1,639 sqft
    2021-09-01 30 days 1,613 sqft
    2021-10-01 31 days 1,654 sqft
    2021-11-01 37 days 1,640 sqft
    2021-12-01 40 days 1,659 sqft
    2022-01-01 39 days 1,634 sqft
    2022-02-01 26 days 1,647 sqft
    2022-03-01 22 days 1,680 sqft
    2022-04-01 22 days 1,702 sqft
    2022-05-01 23 days 1,715 sqft
    2022-06-01 26 days 1,759 sqft
    2022-07-01 31 days 1,748 sqft
    2022-08-01 38 days 1,742 sqft
    2022-09-01 44 days 1,749 sqft
    2022-10-01 46 days 1,729 sqft
    2022-11-01 50 days 1,725 sqft
    2022-12-01 61 days 1,729 sqft
    2023-01-01 66 days 1,737 sqft
    2023-02-01 49 days 1,717 sqft
    2023-03-01 44 days 1,708 sqft
    2023-04-01 38 days 1,750 sqft
    2023-05-01 31 days 1,760 sqft
    2023-06-01 32 days 1,753 sqft
    2023-07-01 35 days 1,760 sqft
    2023-08-01 38 days 1,737 sqft
    2023-09-01 39 days 1,724 sqft
    2023-10-01 42 days 1,673 sqft
    2023-11-01 45 days 1,687 sqft
    2023-12-01 54 days 1,668 sqft
    2024-01-01 59 days 1,693 sqft
    2024-02-01 45 days 1,680 sqft
    2024-03-01 44 days 1,699 sqft
    2024-04-01 39 days 1,697 sqft
    2024-05-01 32 days 1,729 sqft
    2024-06-01 37 days 1,736 sqft
    2024-07-01 41 days 1,720 sqft
    2024-08-01 43 days 1,709 sqft
    2024-09-01 44 days 1,719 sqft
    2024-10-01 44 days 1,714 sqft
    Bakersfield's median listing age (time on market) for 2024-10-01 was 44 days. This is 6% longer than the same period one year ago.

    Bakersfield's median square footage for active listings during the 2024-10-01 period was 1,714 sqft. One year prior, the average listing was 1,673 sqft.

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.