Bakersfield VA Loan Rates, Closing Costs & Stats

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 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 6.6% for the week of 2024-06-07, compared to the national average (all VA variants) of 6.387% for the same period.

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

The average rate for the prior week (2024-05-31) was 6.71% and one month ago for the week of 2024-05-03, the average rate was 6.73%.

The average rate one year ago was 6.73%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.57%.

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
Bakersfield's median listing price for 2024-05-01 was $408,613, a difference of $18,613 (4.8%) versus the prior year and $11,613 versus the prior month.

Bakersfield's median listing price comes in at 92% of the national average.

Bakersfield's average listing price for 2024-05-01 was $459,613, a difference of $8,923 (2.0%) versus the prior year and $15,960 versus the prior month.

For the 2024-05-01 period, Bakersfield had 1,330 MLS listings, a difference of 69 listings (5%) versus the prior month and 306 listings (30%) 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
Bakersfield's median listing age (time on market) for 2024-05-01 was 32 days. This is 2% longer than the same period one year ago.

Bakersfield's median square footage for active listings during the 2024-05-01 period was 1,729 sqft. One year prior, the average listing was 1,760 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.