Bakersfield VA Loans

BAKERSFIELD, CA

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 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 167 lenders originated 3,505 VA loans during 2021. The total origination value was $1,026,995,000, with an average VA loan value of $293,009.

Bakersfield VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Bakersfield averaged 5.71% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

The average rate for the prior week (2022-05-13) was 5.72% and one month ago for the week of 2022-04-15, the average rate was 5.08%.

The average rate one year ago was 3.18%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.37%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bakersfield level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FREEDOM MORTGAGE CORPORATION 316 2.43% $3,145
QUICKEN LOANS, LLC 258 2.43% $4,770
Mortgage Research Center, LLC 230 2.85% $6,549
PENNYMAC LOAN SERVICES, LLC 190 2.37% $5,774
UNITED WHOLESALE MORTGAGE, LLC 175 2.49% $7,108
NAVY FEDERAL CREDIT UNION 111 2.49% $5,089
GUILD MORTGAGE COMPANY 111 2.73% $6,669
LOANDEPOT.COM, LLC 79 2.46% $5,294
VILLAGE CAPITAL & INVESTMENT LLC 76 2.31% $3,227
NEW DAY FINANCIAL, LLC 76 2.79% $8,587
CALIBER HOME LOANS, INC. 75 2.63% $5,496
HOME POINT FINANCIAL CORPORATION 75 2.52% $6,262
Sierra Pacific Mortgage Company, Inc. 63 2.83% $7,267
DIGNIFIED HOME LOANS, LLC 61 2.67% $7,208
CLEARPATH LENDING 55 2.32% $3,403
USAA Federal Savings Bank 52 2.81% $4,508
HOMEBRIDGE FINANCIAL SERVICES, INC. 48 2.73% $7,188
Mr. Cooper ( Nationstar Mortgage ) 44 2.64% $3,779
LAKEVIEW LOAN SERVICING, LLC 43 2.40% $2,399
AMERICAN FINANCIAL NETWORK, INC. 43 2.59% $9,686
AMERICAN PACIFIC MORTGAGE CORPORATION 36 2.74% $6,786
Wells Fargo Bank 33 2.59% $3,377
DRAPER AND KRAMER MORTGAGE CORP. 32 2.52% $7,615
The Federal Savings Bank 26 2.47% $7,607
BROKER SOLUTIONS, INC. 25 2.69% $5,086
Lakeview Community Capital, LLC 24 2.46% $3,311
SUMMIT FUNDING, INC. 23 2.90% $9,494
GUARANTEED RATE, INC. 21 2.73% $4,747
Carrington Mortgage Services, LLC 19 2.88% $5,132
PENTAGON FEDERAL CREDIT UNION 19 2.30% $5,611
CMG MORTGAGE, INC. 18 2.67% $7,373
NEWREZ LLC 18 2.75% $4,507
CROSSCOUNTRY MORTGAGE, LLC 18 3.01% $9,597
AMERISAVE MORTGAGE CORPORATION 17 2.74% $7,786
Golden Empire Mortgage, Inc. 16 3.32% $10,093
InterContinental Capital Group, Inc 16 2.38% $3,136
FINANCE OF AMERICA MORTGAGE LLC 15 2.83% $8,266
FBC MORTGAGE, LLC 15 2.82% $10,077
Nations Lending Corporation 14 3.22% $10,261
AUGUSTA FINANCIAL, INC. 14 2.75% $10,321
PLANET HOME LENDING, LLC 14 2.52% $2,803
SUN WEST MORTGAGE COMPANY, INC. 14 2.66% $7,869
PLAZA HOME MORTGAGE, INC. 14 2.72% $6,574
Commerce Home Mortgage, Inc. 13 2.57% $5,648
RESIDENTIAL BANCORP. 12 2.82% $11,954
MORTGAGE MANAGEMENT CONSULTANTS, INC. 12 3.15% $9,229
Barrington Bank & Trust Company, N.A. 12 2.70% $4,727
LENDUS, LLC 11 2.66% $6,695
CELEBRITY HOME LOANS, LLC 11 2.69% $6,849
DHI MORTGAGE COMPANY, LTD. 11 2.79% $8,826
EAGLE HOME MORTGAGE, LLC 11 3.00% $4,201
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 2.70% $8,991
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 10 3.15% $8,145
PRIMARY RESIDENTIAL MORTGAGE, INC. 10 3.26% $4,286
LOANPAL, LLC 10 2.44% $6,369
Equity Prime Mortgage LLC 9 3.29% $6,577
KS StateBank 9 2.44% $4,223
Hometown Lenders, Inc. 9 2.86% $4,835
SECURITYNATIONAL MORTGAGE COMPANY 9 3.06% $10,289
Low VA Rates, LLC 8 2.09% $5,444
NP, Inc. 8 2.41% $5,166
MLD MORTGAGE INC. 8 2.92% $8,267
ACCELERATE MORTGAGE, LLC 8 2.50% $3,949
Platinum Home Mortgage Corporation 8 3.05% $10,358
MUTUAL OF OMAHA MORTGAGE, INC. 7 2.55% $5,370
Armed Forces Bank 7 2.54% $3,340
MICHIGAN MUTUAL, INC. 7 3.14% $5,975
MASON MCDUFFIE MORTGAGE CORPORATION 7 2.84% $4,946
First Guaranty Mortgage Corporation 7 2.48% $2,940
HighTechLending Inc 6 2.96% $12,486
NBH Bank 6 2.38% $2,593
NATIONS DIRECT MORTGAGE, LLC 6 3.17% $7,631
NETWORK CAPITAL FUNDING CORPORATION 5 2.68% $11,539
AMERICAN FINANCING CORPORATION 5 2.75% $5,576
MOVEMENT MORTGAGE, LLC 5 3.08% $2,813
MUFG Union Bank 4 2.81% $2,002
CALCON MUTUAL MORTGAGE LLC 4 3.88% $11,775
Flagstar Bank, FSB 4 2.98% $9,213
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 4 2.56% $4,925
LEADERONE FINANCIAL CORPORATION 4 2.63% $5,372
Magnolia Bank 4 2.75% $9,345
NBKC BANK 4 2.50% $8,772
North American Savings Bank, F.S.B. 4 2.50% $12,669
OCMBC, INC. 4 2.78% $4,864
Paramount Residential Mortgage Group, Inc. 4 2.84% $11,668
SOVEREIGN LENDING GROUP INCORPORATED 4 2.75% $7,280
Watermark Capital, Inc. 4 2.72% $7,344
Prime Choice Funding Inc. 3 2.42% $3,920
HOMESIDE FINANCIAL, LLC 3 2.42% $8,898
First Federal Bank 3 2.71% $5,834
CONTOUR MORTGAGE CORPORATION 3 2.54% $8,117
Credence Funding Corporation 3 2.38% $1,501
MID AMERICA MORTGAGE, INC. 3 2.08% $1,624
INTERCAP LENDING INC. 3 2.67% $7,680
KELLER MORTGAGE, LLC 3 2.92% $12,057
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 2.58% $2,201
Hometown Equity Mortgage, LLC 3 2.75% $10,287
Sunflower Bank 3 2.37% $7,632
Strong Home Mortgage, LLC 3 2.46% $743
CAMPOS FINANCIAL CORP. 3 2.92% $4,618
MOUNTAIN WEST FINANCIAL, INC. 3 2.88% $4,242
UNION HOME MORTGAGE CORP. 2 2.25% $10,059
Manufacturers and Traders Trust Company 2 2.56% $7,621
HomeStreet Bank 2 2.81% $3,344
HOME APPROVALS DIRECT, INC. 2 2.50% $3,989
FRONTWAVE 2 2.63% $5,184
DAS Acquisition Company, LLC 2 2.94% $18,737
CORNERSTONE HOME LENDING, INC. 2 2.94% $4,478
Northpointe Bank 2 2.50% $4,570
Paramount Bank 2 2.38% $5,942
PHH Mortgage Corporation 2 2.81% $6,945
CHURCHILL MORTGAGE CORPORATION 2 2.63% $11,801
CHERRY CREEK MORTGAGE, LLC 2 2.25% $708
RESIDENTIAL WHOLESALE MORTGAGE, INC. 2 3.31% $9,547
ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 2.75% $4,463
BAY EQUITY LLC 2 2.38% $6,894
AHL FUNDING 2 3.19% $9,672
STEARNS LENDING, LLC 2 2.75% $14,778
Bank of England 2 2.88% $6,921
AmeriHome Mortgage Company, LLC 2 2.94% $2,539
U.S. Bank 2 2.75% $11,520
Amerifirst Financial, Inc. 2 3.31% $4,185
LADERA LENDING, INC. 2 2.94% $9,374
KINGS MORTGAGE SERVICES, INC. 2 2.56% $10,282
Citibank 1 2.88% $1,518
TJC Mortgage, Inc. 1 2.25% $1,306
PINNACLE LENDING GROUP, INC. 1 2.25% $12,322
TOP FLITE FINANCIAL, INC. 1 3.25% $9,472
Umpqua Bank 1 2.75% $3,372
CENTRAL COAST LENDING, INC. 1 3.13% $5,898
PLUS RELOCATION MORTGAGE, LLC 1 2.50% $40,857
PREMIER MORTGAGE RESOURCES, L.L.C. 1 2.75% $5,296
CANOPY MORTGAGE, LLC 1 1.75% $4,637
GENEVA FINANCIAL, LLC 1 3.13% $16,322
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.50% $9,630
Prosperity Home Mortgage, LLC 1 2.88% $3,530
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 2.88% $5,888
CALCULATED RISK ANALYTICS LLC 1 4.25% $12,064
Home Mortgage Alliance Corp 1 2.38% $9,353
UNITED SECURITY FINANCIAL CORP 1 1.75% $6,582
S1L, Inc. 1 2.88% $4,138
SECURITY HOME MORTGAGE, LLC. 1 2.50% $4,222
BEST CAPITAL FUNDING 1 2.38% $2,024
JPMorgan Chase Bank 1 2.63% $1,864
Mid-Continent Funding, Inc. 1 2.88% $12,988
SRE MORTGAGE ALLIANCE INC. 1 2.25% $22,700
Meridian Bank Corporation 1 2.25% $5,581
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.75% $5,540
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 3.75% $9,958
EVERETT FINANCIAL, INC. 1 3.88% $2,138
DIRECT MORTGAGE, CORP. 1 2.38% $8,382
NATIONS RELIABLE LENDING, LLC 1 2.25% $6,725
DATA MORTGAGE, INC. 1 3.13% $4,330
MORTGAGEONE, INC. 1 3.13% $4,121
VAN DYK MORTGAGE CORPORATION 1 2.25% $4,651
MYCUMORTGAGE, LLC 1 2.88% $4,031
COUNTRY CLUB MORTGAGE, INC. 1 3.38% $3,967
SUNSTREET MORTGAGE, LLC 1 2.38% $1,290
AMCAP MORTGAGE, LTD. 1 2.63% $4,287
MORIA DEVELOPMENT, INC. 1 2.75% $4,715
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 2.88% $11,155
V.I.P. MORTGAGE, INC. 1 2.25% $0
ON Q FINANCIAL, INC. 1 2.75% $18,539
PANORAMA MORTGAGE GROUP, LLC 1 2.75% $2,487
Lend Smart Mortgage, LLC 1 2.50% $26,247
WESTERN EXPRESS LENDING 1 3.00% $9,511
CITYWIDE HOME LOANS, LLC 1 2.75% $2,744

The top Bakersfield VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 316 VA loans originated. Their average total fees are $3,145, which is $1,625 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Bakersfield VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,399), PLANET HOME LENDING, LLC ($2,803), InterContinental Capital Group, Inc ($3,136), FREEDOM MORTGAGE CORPORATION ($3,145) and VILLAGE CAPITAL & INVESTMENT LLC ($3,227).

The lowest rate Bakersfield VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (2.30%), VILLAGE CAPITAL & INVESTMENT LLC (2.31%), CLEARPATH LENDING (2.32%), PENNYMAC LOAN SERVICES, LLC (2.37%) and InterContinental Capital Group, Inc (2.38%).


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 $240,000 (6.2%) $295,796 (6.5%) 0.88 2,247
2018-02-01 $244,975 (6.5%) $295,240 (4.1%) 0.88 2,305
2018-03-01 $255,000 (6.3%) $295,289 (0.8%) 0.88 2,316
2018-04-01 $259,925 (6.1%) $307,647 (3.7%) 0.87 2,422
2018-05-01 $265,000 (6.8%) $313,203 (5.5%) 0.88 2,411
2018-06-01 $265,000 (5.0%) $310,733 (4.8%) 0.88 2,548
2018-07-01 $262,975 (5.2%) $309,351 (5.2%) 0.88 2,651
2018-08-01 $259,000 (3.6%) $304,821 (4.3%) 0.87 2,700
2018-09-01 $255,000 (2.4%) $305,575 (4.7%) 0.85 2,765
2018-10-01 $249,999 (0.2%) $302,658 (0.7%) 0.84 2,754
2018-11-01 $249,900 (0.4%) $298,910 (0.0%) 0.84 2,685
2018-12-01 $248,000 (1.2%) $294,217 (-1.7%) 0.85 2,509
2019-01-01 $244,975 (2.1%) $291,910 (-1.3%) 0.84 2,287
2019-02-01 $246,350 (0.6%) $294,388 (-0.3%) 0.83 2,280
2019-03-01 $253,614 (-0.5%) $302,030 (2.3%) 0.83 2,304
2019-04-01 $259,900 (0.0%) $311,793 (1.4%) 0.82 2,365
2019-05-01 $260,000 (-1.9%) $312,977 (-0.1%) 0.80 2,471
2019-06-01 $260,000 (-1.9%) $313,655 (0.9%) 0.80 2,566
2019-07-01 $265,700 (1.0%) $316,337 (2.3%) 0.83 2,603
2019-08-01 $262,429 (1.3%) $312,738 (2.6%) 0.83 2,494
2019-09-01 $259,879 (1.9%) $309,710 (1.4%) 0.83 2,321
2019-10-01 $259,450 (3.8%) $308,221 (1.8%) 0.83 2,340
2019-11-01 $259,000 (3.6%) $312,153 (4.4%) 0.84 2,246
2019-12-01 $259,900 (4.8%) $376,444 (28.0%) 0.87 2,048
2020-01-01 $259,950 (6.1%) $314,712 (7.8%) 0.87 1,809
2020-02-01 $263,500 (7.0%) $325,188 (10.5%) 0.85 1,725
2020-03-01 $274,900 (8.4%) $333,579 (10.5%) 0.86 1,750
2020-04-01 $270,000 (3.9%) $327,870 (5.2%) 0.84 1,814
2020-05-01 $274,900 (5.7%) $332,344 (6.2%) 0.83 1,732
2020-06-01 $277,000 (6.5%) $341,697 (8.9%) 0.81 1,527
2020-07-01 $289,250 (8.9%) $351,848 (11.2%) 0.83 1,401
2020-08-01 $299,000 (13.9%) $364,756 (16.6%) 0.85 1,241
2020-09-01 $309,500 (19.1%) $377,520 (21.9%) 0.88 1,275
2020-10-01 $304,000 (17.2%) $377,877 (22.6%) 0.87 1,253
2020-11-01 $299,995 (15.8%) $362,591 (16.2%) 0.86 1,165
2020-12-01 $287,500 (10.6%) $346,097 (-8.1%) 0.84 1,075
2021-01-01 $279,999 (7.7%) $334,823 (6.4%) 0.82 944
2021-02-01 $282,450 (7.2%) $347,616 (6.9%) 0.81 829
2021-03-01 $297,000 (8.0%) $362,198 (8.6%) 0.83 758
2021-04-01 $303,450 (12.4%) $361,245 (10.2%) 0.82 791
2021-05-01 $315,000 (14.6%) $380,733 (14.6%) 0.83 800
2021-06-01 $319,000 (15.2%) $389,167 (13.9%) 0.83 901
2021-07-01 $326,700 (13.0%) $388,080 (10.3%) 0.85 1,044
2021-08-01 $322,500 (7.9%) $386,555 (6.0%) 0.85 1,229
2021-09-01 $325,000 (5.0%) $394,767 (4.6%) 0.86 1,245
2021-10-01 $339,000 (11.5%) $401,576 (6.3%) 0.89 1,311
2021-11-01 $340,000 (13.3%) $411,311 (13.4%) 0.90 1,135
2021-12-01 $345,000 (20.0%) $434,307 (25.5%) 0.92 1,019
2022-01-01 $345,000 (23.2%) $432,152 (29.1%) 0.92 867
2022-02-01 $349,900 (23.9%) $447,854 (28.8%) 0.89 823
2022-03-01 $359,500 (21.0%) $452,716 (25.0%) 0.89 821
2022-04-01 $370,000 (21.9%) $445,450 (23.3%) 0.87 951
Bakersfield's median listing price for 2022-04-01 was $370,000, a difference of $66,550 (21.9%) versus the prior year and $10,500 versus the prior month.

Bakersfield's median listing price comes in at 87% of the national average.

Bakersfield's average listing price for 2022-04-01 was $445,450, a difference of $84,205 (23.3%) versus the prior year and $-7,266 versus the prior month.

For the 2022-04-01 period, Bakersfield had 951 MLS listings, a difference of 130 listings (16%) versus the prior month and 160 listings (20%) 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 63 days 1,721 sqft
2018-02-01 43 days 1,721 sqft
2018-03-01 43 days 1,750 sqft
2018-04-01 45 days 1,768 sqft
2018-05-01 44 days 1,789 sqft
2018-06-01 45 days 1,787 sqft
2018-07-01 46 days 1,772 sqft
2018-08-01 47 days 1,748 sqft
2018-09-01 47 days 1,740 sqft
2018-10-01 53 days 1,713 sqft
2018-11-01 57 days 1,695 sqft
2018-12-01 66 days 1,688 sqft
2019-01-01 68 days 1,680 sqft
2019-02-01 54 days 1,682 sqft
2019-03-01 47 days 1,715 sqft
2019-04-01 43 days 1,743 sqft
2019-05-01 43 days 1,752 sqft
2019-06-01 46 days 1,736 sqft
2019-07-01 47 days 1,754 sqft
2019-08-01 49 days 1,731 sqft
2019-09-01 49 days 1,714 sqft
2019-10-01 50 days 1,698 sqft
2019-11-01 53 days 1,689 sqft
2019-12-01 57 days 1,685 sqft
2020-01-01 62 days 1,690 sqft
2020-02-01 44 days 1,700 sqft
2020-03-01 40 days 1,741 sqft
2020-04-01 46 days 1,729 sqft
2020-05-01 55 days 1,715 sqft
2020-06-01 49 days 1,731 sqft
2020-07-01 38 days 1,751 sqft
2020-08-01 34 days 1,795 sqft
2020-09-01 30 days 1,816 sqft
2020-10-01 33 days 1,797 sqft
2020-11-01 35 days 1,727 sqft
2020-12-01 38 days 1,645 sqft
2021-01-01 36 days 1,612 sqft
2021-02-01 31 days 1,602 sqft
2021-03-01 22 days 1,627 sqft
2021-04-01 23 days 1,630 sqft
2021-05-01 22 days 1,680 sqft
2021-06-01 23 days 1,661 sqft
2021-07-01 22 days 1,671 sqft
2021-08-01 29 days 1,658 sqft
2021-09-01 30 days 1,639 sqft
2021-10-01 31 days 1,673 sqft
2021-11-01 37 days 1,657 sqft
2021-12-01 40 days 1,685 sqft
2022-01-01 39 days 1,655 sqft
2022-02-01 29 days 1,674 sqft
2022-03-01 25 days 1,706 sqft
2022-04-01 22 days 1,736 sqft
Bakersfield's median listing age (time on market) for 2022-04-01 was 22 days. This is -2% shorter than the same period one year ago.

Bakersfield's median square footage for active listings during the 2022-04-01 period was 1,736 sqft. One year prior, the average listing was 1,630 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.