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 135 lenders originated 1,492 VA loans during 2022. The total origination value was $519,370,000, with an average VA loan value of $348,103.

    Bakersfield VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Bakersfield averaged 6.8% for the week of 2023-12-01, compared to the national average (all VA variants) of 6.774% for the same period.

    Bakersfield's average VA mortgage closing costs are $5,960.

    The average rate for the prior week (2023-11-24) was 6.93% and one month ago for the week of 2023-10-27, the average rate was 7.37%.

    The average rate one year ago was 6.05%.

    For refis of the same type during the week of 2023-12-01, the average rate was 5.65%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 175 4.96% $8,108
    UNITED WHOLESALE MORTGAGE, LLC 170 4.19% $9,639
    QUICKEN LOANS, LLC 96 3.88% $11,233
    FREEDOM MORTGAGE CORPORATION 77 3.99% $9,476
    NAVY FEDERAL CREDIT UNION 58 3.73% $4,585
    PENNYMAC LOAN SERVICES, LLC 48 3.39% $8,950
    Sierra Pacific Mortgage Company, Inc. 46 4.79% $10,314
    LOANDEPOT.COM, LLC 44 3.93% $9,381
    GUARANTEED RATE, INC. 36 4.46% $5,697
    HOME POINT FINANCIAL CORPORATION 34 3.95% $9,836
    CALIBER HOME LOANS, INC. 30 4.35% $10,594
    USAA Federal Savings Bank 28 3.79% $8,453
    NEW DAY FINANCIAL, LLC 24 5.30% $11,944
    AMERICAN PACIFIC MORTGAGE CORPORATION 21 4.35% $11,045
    Mr. Cooper ( Nationstar Mortgage ) 19 4.57% $11,323
    Nations Lending Corporation 19 4.70% $12,486
    CLEARPATH LENDING 16 3.73% $11,108
    The Federal Savings Bank 14 4.42% $14,292
    LOANPAL, LLC 14 3.35% $9,354
    HOMEBRIDGE FINANCIAL SERVICES, INC. 14 4.20% $7,077
    BROKER SOLUTIONS, INC. 13 4.39% $12,470
    SUMMIT FUNDING, INC. 13 4.86% $11,818
    GUILD MORTGAGE COMPANY 13 4.00% $9,915
    CROSSCOUNTRY MORTGAGE, LLC 13 4.68% $8,421
    AMERISAVE MORTGAGE CORPORATION 12 4.72% $11,997
    DHI MORTGAGE COMPANY, LTD. 12 4.13% $10,115
    FBC MORTGAGE, LLC 12 4.36% $12,230
    DIGNIFIED HOME LOANS, LLC 11 4.71% $11,652
    Golden Empire Mortgage, Inc. 11 5.72% $9,744
    CMG MORTGAGE, INC. 11 4.24% $9,365
    DRAPER AND KRAMER MORTGAGE CORP. 11 3.89% $13,132
    Equity Prime Mortgage LLC 10 5.59% $13,076
    LAKEVIEW LOAN SERVICING, LLC 9 3.62% $3,410
    FINANCE OF AMERICA MORTGAGE LLC 9 4.32% $12,589
    NEWREZ LLC 9 4.26% $7,877
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 4.14% $6,326
    VILLAGE CAPITAL MORTGAGE 8 4.03% $11,795
    Platinum Home Mortgage Corporation 8 5.20% $9,375
    COUNTRY CLUB MORTGAGE, INC. 8 5.77% $4,310
    EAGLE HOME MORTGAGE, LLC 7 4.11% $8,821
    SECURITYNATIONAL MORTGAGE COMPANY 7 4.64% $9,340
    NBH Bank 7 3.73% $8,446
    Wells Fargo Bank 7 5.02% $7,688
    Hometown Lenders, Inc. 6 4.96% $10,182
    Carrington Mortgage Services, LLC 6 5.48% $10,778
    Flagstar Bank, FSB 6 3.73% $8,885
    MOVEMENT MORTGAGE, LLC 6 4.94% $9,330
    NATIONS DIRECT MORTGAGE, LLC 6 4.42% $9,491
    PRIMARY RESIDENTIAL MORTGAGE, INC. 5 4.23% $6,355
    AUGUSTA FINANCIAL, INC. 5 4.95% $15,245
    PLAZA HOME MORTGAGE, INC. 5 4.33% $8,655
    MORTGAGE MANAGEMENT CONSULTANTS, INC. 5 4.60% $9,499
    RESIDENTIAL BANCORP 5 5.18% $9,586
    HighTechLending Inc 5 3.95% $12,743
    MICHIGAN MUTUAL, INC. 4 4.19% $14,268
    Century Mortgage Company DBA Century Lending Company 4 4.59% $8,316
    MUTUAL OF OMAHA MORTGAGE, INC. 4 4.41% $7,115
    Paramount Residential Mortgage Group, Inc. 4 5.56% $14,343
    ALAMEDA MORTGAGE CORPORATION 4 4.31% $7,318
    AMERICAN FINANCING CORPORATION 4 2.59% $7,737
    PLANET HOME LENDING, LLC 4 4.03% $17,286
    Barrington Bank & Trust Company, N.A. 4 5.72% $8,489
    CARDINAL FINANCIAL 4 5.03% $12,227
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 5.50% $26,569
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 5.06% $11,507
    SUN WEST MORTGAGE COMPANY, INC. 3 3.58% $10,648
    Strong Home Mortgage, LLC 3 3.00% $9,595
    BAY EQUITY LLC 3 5.75% $4,916
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 3 4.75% $13,957
    AXIA FINANCIAL, LLC 3 5.25% $7,394
    HOMESIDE FINANCIAL, LLC 3 3.08% $9,511
    Hometown Equity Mortgage, LLC 3 4.79% $7,917
    MLD MORTGAGE INC. 3 4.42% $12,220
    Armed Forces Bank 3 2.96% $12,526
    North American Savings Bank, F.S.B. 3 5.63% $7,763
    Lakeview Community Capital, LLC 2 3.75% $4,139
    Ameris Bank 2 3.94% $3,826
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 2 4.25% $5,597
    GUARANTY HOME MORTGAGE CORPORATION 2 4.13% $4,965
    Bank of England 2 4.88% $13,125
    Prime Choice Funding Inc. 2 2.75% $4,231
    GENEVA FINANCIAL, LLC 2 5.88% $4,882
    OCMBC, INC. 2 5.25% $10,038
    M&T Bank 2 3.44% $7,791
    Franklin Loan Corporation 2 4.56% $5,424
    NFM, INC. 2 5.50% $15,754
    Watermark Capital, Inc. 2 3.38% $9,409
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 4.19% $11,778
    Sunflower Bank 2 5.63% $3,229
    Low VA Rates, LLC 2 5.63% $8,915
    Commerce Home Mortgage, Inc. 2 3.63% $18,000
    CASTLE & COOKE MORTGAGE, LLC 2 5.56% $22,477
    KINGS MORTGAGE SERVICES, INC. 1 2.88% $17,056
    AMERICAN FINANCIAL RESOURCES, INC. 1 3.25% $6,117
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 4.25% $21,057
    AMERIFIRST FINANCIAL CORPORATION 1 5.88% $8,245
    Bank of America 1 4.88% $32,378
    BELEM SERVICING LLC 1 3.25% $13,454
    BNC National Bank 1 5.75% $15,065
    CALCULATED RISK ANALYTICS LLC 1 3.88% $21,674
    CONTOUR MORTGAGE CORPORATION 1 5.25% $19,391
    Credence Funding Corporation 1 4.25% $9,880
    CUSTOMER SERVICE MORTGAGE CORPORATION 1 4.63% $5,959
    DAS Acquisition Company, LLC 1 7.13% $2,872
    DIRECTIONS EQUITY, LLC 1 6.75% $750
    EVANSVILLE TEACHERS 1 6.75% $7,918
    EVERETT FINANCIAL, INC. 1 5.63% $8,806
    First Federal Bank 1 2.75% $22,890
    First Guaranty Mortgage Corporation 1 3.00% $20,012
    FRONTWAVE 1 4.38% $2,294
    Goldwater Bank, N.A. 1 3.25% $1,987
    HOME APPROVALS DIRECT, INC. 1 4.88% $6,817
    HomeStreet Bank 1 4.13% $8,769
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 1 4.00% $1,067
    Magnolia Bank 1 3.13% $14,841
    MASON MCDUFFIE MORTGAGE CORPORATION 1 3.25% $11,975
    Mid-Continent Funding, Inc. 1 4.00% $14,243
    MUFG Union Bank 1 4.88% $18,633
    NBKC BANK 1 2.75% $3,984
    NexBank 1 3.88% $15,065
    Northpointe Bank 1 2.38% $2,871
    NP, Inc. 1 2.75% $7,191
    PACIFIC HOME LOANS, INC. 1 3.75% $7,920
    PENTAGON FEDERAL CREDIT UNION 1 2.25% $11,628
    PNC Bank 1 3.63% $13,336
    PREMIA MORTGAGE, LLC 1 6.25% $4,984
    ROYAL UNITED MORTGAGE LLC 1 4.75% $10,060
    SNAPFI, INC. 1 4.75% $15,557
    Texana Bank 1 3.63% $11,293
    The Central Trust Bank 1 2.75% $3,628
    TJC Mortgage, Inc. 1 2.75% $6,546
    UNION HOME MORTGAGE CORP. 1 2.75% $18,128
    U.S. Bank 1 4.63% $992
    VERITAS FUNDING, LLC 1 3.99% $9,897
    V.I.P. MORTGAGE, INC. 1 5.63% $8,897

    The top Bakersfield VA lender as defined by loan originations is Mortgage Research Center, LLC, with 175 VA loans originated. Their average total fees are $8,108, which is $1,531 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Bakersfield VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($4,585), GUARANTEED RATE, INC. ($5,697), HOMEBRIDGE FINANCIAL SERVICES, INC. ($7,077), Mortgage Research Center, LLC ($8,108) and CROSSCOUNTRY MORTGAGE, LLC ($8,421).

    The lowest rate Bakersfield VA lenders (with over 10 loans originated) are LOANPAL, LLC (3.35%), PENNYMAC LOAN SERVICES, LLC (3.39%), CLEARPATH LENDING (3.73%), NAVY FEDERAL CREDIT UNION (3.73%) and USAA Federal Savings Bank (3.79%).

    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 (2.8%) 0.88 2,062
    2018-02-01 $239,950 (4.8%) $281,183 (1.9%) 0.87 2,098
    2018-03-01 $250,000 (5.0%) $289,967 (2.3%) 0.88 2,130
    2018-04-01 $259,450 (5.9%) $294,240 (1.4%) 0.88 2,228
    2018-05-01 $262,271 (5.1%) $298,099 (2.7%) 0.88 2,230
    2018-06-01 $263,000 (5.2%) $296,815 (2.7%) 0.88 2,344
    2018-07-01 $259,900 (4.0%) $293,881 (2.1%) 0.87 2,443
    2018-08-01 $256,500 (2.8%) $290,491 (1.7%) 0.86 2,511
    2018-09-01 $254,900 (2.4%) $290,839 (2.3%) 0.86 2,561
    2018-10-01 $250,000 (0.8%) $288,557 (1.1%) 0.85 2,495
    2018-11-01 $249,900 (2.5%) $286,834 (1.3%) 0.85 2,437
    2018-12-01 $249,000 (4.2%) $285,673 (0.8%) 0.86 2,274
    2019-01-01 $245,000 (3.8%) $282,636 (1.0%) 0.85 2,087
    2019-02-01 $245,000 (2.1%) $283,973 (1.0%) 0.83 2,072
    2019-03-01 $252,400 (1.0%) $292,326 (0.8%) 0.83 2,108
    2019-04-01 $261,308 (0.7%) $303,499 (3.2%) 0.83 2,189
    2019-05-01 $262,750 (0.2%) $304,559 (2.2%) 0.82 2,273
    2019-06-01 $264,900 (0.7%) $304,435 (2.6%) 0.83 2,354
    2019-07-01 $266,875 (2.7%) $306,795 (4.4%) 0.84 2,388
    2019-08-01 $262,818 (2.5%) $304,046 (4.7%) 0.83 2,345
    2019-09-01 $259,545 (1.8%) $303,843 (4.5%) 0.83 2,245
    2019-10-01 $258,114 (3.3%) $303,854 (5.3%) 0.83 2,171
    2019-11-01 $258,900 (3.6%) $308,653 (7.6%) 0.85 2,033
    2019-12-01 $258,500 (3.8%) $377,395 (32.1%) 0.86 1,860
    2020-01-01 $259,450 (5.9%) $305,015 (7.9%) 0.87 1,646
    2020-02-01 $259,900 (6.1%) $315,225 (11.0%) 0.85 1,582
    2020-03-01 $269,950 (7.0%) $324,523 (11.0%) 0.85 1,607
    2020-04-01 $269,450 (3.1%) $320,563 (5.6%) 0.84 1,669
    2020-05-01 $269,900 (2.7%) $324,981 (6.7%) 0.82 1,595
    2020-06-01 $271,238 (2.4%) $333,511 (9.6%) 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%) $364,172 (19.9%) 0.86 1,163
    2020-11-01 $299,900 (15.8%) $353,262 (14.5%) 0.88 1,074
    2020-12-01 $287,000 (11.0%) $337,587 (-10.6%) 0.85 1,002
    2021-01-01 $279,000 (7.5%) $330,098 (8.2%) 0.83 891
    2021-02-01 $284,625 (9.5%) $345,256 (9.5%) 0.83 773
    2021-03-01 $294,997 (9.3%) $353,539 (8.9%) 0.84 721
    2021-04-01 $301,000 (11.7%) $354,078 (10.5%) 0.81 750
    2021-05-01 $315,000 (16.7%) $374,155 (15.1%) 0.84 741
    2021-06-01 $313,300 (15.5%) $380,310 (14.0%) 0.82 836
    2021-07-01 $320,000 (14.3%) $381,028 (10.7%) 0.84 982
    2021-08-01 $320,000 (8.5%) $379,709 (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%) $417,944 (21.1%) 0.91 746
    2022-03-01 $359,500 (21.9%) $424,585 (20.1%) 0.90 754
    2022-04-01 $365,000 (21.3%) $434,600 (22.7%) 0.87 874
    2022-05-01 $389,600 (23.7%) $444,991 (18.9%) 0.89 1,180
    2022-06-01 $399,575 (27.5%) $440,796 (15.9%) 0.89 1,395
    2022-07-01 $390,000 (21.9%) $435,074 (14.2%) 0.88 1,619
    2022-08-01 $389,725 (21.8%) $430,270 (13.3%) 0.90 1,700
    2022-09-01 $388,087 (21.7%) $431,106 (13.6%) 0.91 1,748
    2022-10-01 $380,000 (15.2%) $426,859 (9.5%) 0.89 1,797
    2022-11-01 $375,000 (11.3%) $427,974 (7.2%) 0.90 1,760
    2022-12-01 $370,900 (9.1%) $425,582 (4.5%) 0.92 1,491
    2023-01-01 $374,950 (10.4%) $424,171 (4.5%) 0.93 1,320
    2023-02-01 $375,756 (7.5%) $424,653 (1.6%) 0.91 1,174
    2023-03-01 $380,000 (5.7%) $431,281 (1.6%) 0.90 1,011
    2023-04-01 $391,060 (7.1%) $446,458 (2.7%) 0.91 923
    2023-05-01 $390,000 (0.1%) $450,601 (1.3%) 0.88 1,024
    2023-06-01 $392,500 (-1.8%) $456,721 (3.6%) 0.88 1,063
    2023-07-01 $399,000 (2.3%) $452,898 (4.1%) 0.91 1,129
    2023-08-01 $389,963 (0.1%) $444,484 (3.3%) 0.90 1,243
    2023-09-01 $385,000 (-0.8%) $436,210 (1.2%) 0.90 1,339
    2023-10-01 $379,950 (0.0%) $436,371 (2.2%) 0.89 1,380
    2023-11-01 $385,000 (2.7%) $445,210 (4.0%) 0.92 1,407
    Bakersfield's median listing price for 2023-11-01 was $385,000, a difference of $10,000 (2.7%) versus the prior year and $5,050 versus the prior month.

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

    Bakersfield's average listing price for 2023-11-01 was $445,210, a difference of $17,236 (4.0%) versus the prior year and $8,839 versus the prior month.

    For the 2023-11-01 period, Bakersfield had 1,407 MLS listings, a difference of 27 listings (2%) versus the prior month and -353 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 62 days 1,709 sqft
    2018-02-01 41 days 1,714 sqft
    2018-03-01 40 days 1,744 sqft
    2018-04-01 43 days 1,759 sqft
    2018-05-01 43 days 1,778 sqft
    2018-06-01 44 days 1,773 sqft
    2018-07-01 45 days 1,769 sqft
    2018-08-01 46 days 1,740 sqft
    2018-09-01 46 days 1,736 sqft
    2018-10-01 53 days 1,703 sqft
    2018-11-01 56 days 1,691 sqft
    2018-12-01 64 days 1,680 sqft
    2019-01-01 66 days 1,666 sqft
    2019-02-01 51 days 1,667 sqft
    2019-03-01 45 days 1,707 sqft
    2019-04-01 43 days 1,746 sqft
    2019-05-01 40 days 1,748 sqft
    2019-06-01 44 days 1,736 sqft
    2019-07-01 44 days 1,746 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 1,684 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 1,715 sqft
    2020-04-01 46 days 1,701 sqft
    2020-05-01 54 days 1,696 sqft
    2020-06-01 47 days 1,704 sqft
    2020-07-01 36 days 1,712 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 1,628 sqft
    2021-01-01 40 days 1,604 sqft
    2021-02-01 32 days 1,601 sqft
    2021-03-01 23 days 1,605 sqft
    2021-04-01 22 days 1,617 sqft
    2021-05-01 21 days 1,667 sqft
    2021-06-01 22 days 1,648 sqft
    2021-07-01 22 days 1,630 sqft
    2021-08-01 27 days 1,639 sqft
    2021-09-01 30 days 1,614 sqft
    2021-10-01 31 days 1,654 sqft
    2021-11-01 37 days 1,641 sqft
    2021-12-01 40 days 1,660 sqft
    2022-01-01 39 days 1,633 sqft
    2022-02-01 26 days 1,644 sqft
    2022-03-01 22 days 1,678 sqft
    2022-04-01 22 days 1,702 sqft
    2022-05-01 23 days 1,719 sqft
    2022-06-01 26 days 1,764 sqft
    2022-07-01 31 days 1,750 sqft
    2022-08-01 38 days 1,743 sqft
    2022-09-01 44 days 1,749 sqft
    2022-10-01 46 days 1,729 sqft
    2022-11-01 50 days 1,726 sqft
    2022-12-01 61 days 1,729 sqft
    2023-01-01 66 days 1,737 sqft
    2023-02-01 49 days 1,716 sqft
    2023-03-01 44 days 1,704 sqft
    2023-04-01 39 days 1,749 sqft
    2023-05-01 31 days 1,756 sqft
    2023-06-01 32 days 1,751 sqft
    2023-07-01 35 days 1,754 sqft
    2023-08-01 38 days 1,741 sqft
    2023-09-01 39 days 1,724 sqft
    2023-10-01 42 days 1,669 sqft
    2023-11-01 45 days 1,685 sqft
    Bakersfield's median listing age (time on market) for 2023-11-01 was 45 days. This is -9% shorter than the same period one year ago.

    Bakersfield's median square footage for active listings during the 2023-11-01 period was 1,685 sqft. One year prior, the average listing was 1,726 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.