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 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
6.42%
for the week of 2023-01-27, compared to the national average (all VA variants) of
5.952% for the same period.
Bakersfield's average VA mortgage closing costs are $5,443.
The average rate for the prior week (2023-01-20) was
6.25% and
one month ago for the week of 2022-12-23, the
average rate was 6.62%.
The average rate one year ago was 4.12%.
For refis of the same type during the week of 2023-01-27, the average rate
was 5.87%.
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.
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 MORTGAGE ($3,227).
The lowest rate Bakersfield VA lenders (with over 10 loans originated) are
PENTAGON FEDERAL CREDIT UNION (2.30%), VILLAGE CAPITAL MORTGAGE (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 | $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 (2.2%) | 0.86 | 2,561 |
| 2018-10-01 | $250,000 (0.8%) | $288,423 (1.0%) | 0.84 | 2,495 |
| 2018-11-01 | $249,900 (2.5%) | $286,879 (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%) | $292,325 (0.8%) | 0.83 | 2,108 |
| 2019-04-01 | $261,308 (0.7%) | $303,498 (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%) | $304,436 (2.6%) | 0.83 | 2,354 |
| 2019-07-01 | $266,875 (2.7%) | $306,796 (4.4%) | 0.84 | 2,388 |
| 2019-08-01 | $262,818 (2.5%) | $304,049 (4.7%) | 0.83 | 2,345 |
| 2019-09-01 | $259,545 (1.8%) | $303,848 (4.5%) | 0.83 | 2,245 |
| 2019-10-01 | $258,114 (3.3%) | $303,857 (5.4%) | 0.83 | 2,172 |
| 2019-11-01 | $258,900 (3.6%) | $308,654 (7.6%) | 0.85 | 2,034 |
| 2019-12-01 | $258,500 (3.8%) | $377,329 (32.1%) | 0.86 | 1,862 |
| 2020-01-01 | $259,450 (5.9%) | $304,875 (7.9%) | 0.87 | 1,648 |
| 2020-02-01 | $259,900 (6.1%) | $315,069 (11.0%) | 0.85 | 1,584 |
| 2020-03-01 | $269,950 (7.0%) | $324,360 (11.0%) | 0.85 | 1,609 |
| 2020-04-01 | $269,450 (3.1%) | $320,408 (5.6%) | 0.84 | 1,671 |
| 2020-05-01 | $269,800 (2.7%) | $324,818 (6.7%) | 0.82 | 1,597 |
| 2020-06-01 | $270,850 (2.3%) | $333,325 (9.5%) | 0.80 | 1,415 |
| 2020-07-01 | $279,950 (4.9%) | $344,109 (12.2%) | 0.81 | 1,288 |
| 2020-08-01 | $295,000 (12.2%) | $349,076 (14.8%) | 0.85 | 1,141 |
| 2020-09-01 | $300,000 (15.6%) | $362,481 (19.3%) | 0.86 | 1,174 |
| 2020-10-01 | $299,900 (16.2%) | $363,899 (19.8%) | 0.86 | 1,165 |
| 2020-11-01 | $299,675 (15.8%) | $352,980 (14.4%) | 0.88 | 1,076 |
| 2020-12-01 | $287,000 (11.0%) | $337,308 (-10.6%) | 0.85 | 1,004 |
| 2021-01-01 | $279,000 (7.5%) | $329,820 (8.2%) | 0.83 | 893 |
| 2021-02-01 | $284,500 (9.5%) | $344,905 (9.5%) | 0.83 | 775 |
| 2021-03-01 | $294,873 (9.2%) | $353,163 (8.9%) | 0.84 | 723 |
| 2021-04-01 | $299,750 (11.3%) | $353,703 (10.4%) | 0.81 | 752 |
| 2021-05-01 | $315,000 (16.8%) | $373,734 (15.1%) | 0.83 | 743 |
| 2021-06-01 | $313,300 (15.7%) | $380,024 (14.0%) | 0.82 | 839 |
| 2021-07-01 | $320,000 (14.3%) | $380,806 (10.7%) | 0.84 | 983 |
| 2021-08-01 | $320,000 (8.5%) | $379,602 (8.7%) | 0.85 | 1,116 |
| 2021-09-01 | $318,413 (6.1%) | $379,459 (4.7%) | 0.85 | 1,129 |
| 2021-10-01 | $329,900 (10.0%) | $389,568 (7.1%) | 0.88 | 1,175 |
| 2021-11-01 | $337,000 (12.5%) | $399,001 (13.0%) | 0.90 | 1,029 |
| 2021-12-01 | $339,750 (18.4%) | $406,764 (20.6%) | 0.92 | 921 |
| 2022-01-01 | $339,500 (21.7%) | $405,725 (23.0%) | 0.92 | 801 |
| 2022-02-01 | $349,000 (22.7%) | $417,415 (21.0%) | 0.91 | 748 |
| 2022-03-01 | $358,000 (21.4%) | $424,061 (20.1%) | 0.90 | 756 |
| 2022-04-01 | $365,000 (21.8%) | $434,119 (22.7%) | 0.87 | 876 |
| 2022-05-01 | $389,487 (23.7%) | $444,706 (19.0%) | 0.89 | 1,180 |
| 2022-06-01 | $399,450 (27.5%) | $440,530 (15.9%) | 0.89 | 1,396 |
| 2022-07-01 | $390,000 (21.9%) | $434,766 (14.2%) | 0.88 | 1,620 |
| 2022-08-01 | $389,500 (21.7%) | $429,983 (13.3%) | 0.90 | 1,701 |
| 2022-09-01 | $387,000 (21.5%) | $430,834 (13.5%) | 0.91 | 1,749 |
| 2022-10-01 | $380,000 (15.2%) | $426,585 (9.5%) | 0.89 | 1,799 |
| 2022-11-01 | $375,000 (11.3%) | $427,698 (7.2%) | 0.90 | 1,762 |
| 2022-12-01 | $369,625 (8.8%) | $421,594 (3.7%) | 0.92 | 1,514 |
Bakersfield's median listing price comes in at 92% of the national average.
Bakersfield's average listing price for 2022-12-01 was $421,594, a difference of $14,830 (3.7%) versus the prior year and $-6,104 versus the prior month.
For the 2022-12-01 period, Bakersfield had 1,514 MLS listings, a difference of -248 listings (-14%) versus the prior month and 593 listings (64%) 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 | 1,708 sqft |
| 2018-02-01 | 43 days | 1,713 sqft |
| 2018-03-01 | 43 days | 1,742 sqft |
| 2018-04-01 | 44 days | 1,758 sqft |
| 2018-05-01 | 44 days | 1,777 sqft |
| 2018-06-01 | 45 days | 1,772 sqft |
| 2018-07-01 | 47 days | 1,768 sqft |
| 2018-08-01 | 47 days | 1,740 sqft |
| 2018-09-01 | 48 days | 1,736 sqft |
| 2018-10-01 | 55 days | 1,703 sqft |
| 2018-11-01 | 58 days | 1,691 sqft |
| 2018-12-01 | 66 days | 1,681 sqft |
| 2019-01-01 | 68 days | 1,667 sqft |
| 2019-02-01 | 54 days | 1,667 sqft |
| 2019-03-01 | 45 days | 1,706 sqft |
| 2019-04-01 | 43 days | 1,745 sqft |
| 2019-05-01 | 43 days | 1,747 sqft |
| 2019-06-01 | 45 days | 1,736 sqft |
| 2019-07-01 | 46 days | 1,745 sqft |
| 2019-08-01 | 47 days | 1,723 sqft |
| 2019-09-01 | 49 days | 1,699 sqft |
| 2019-10-01 | 52 days | 1,687 sqft |
| 2019-11-01 | 56 days | 1,682 sqft |
| 2019-12-01 | 59 days | 1,674 sqft |
| 2020-01-01 | 63 days | 1,673 sqft |
| 2020-02-01 | 44 days | 1,680 sqft |
| 2020-03-01 | 40 days | 1,712 sqft |
| 2020-04-01 | 48 days | 1,699 sqft |
| 2020-05-01 | 57 days | 1,690 sqft |
| 2020-06-01 | 50 days | 1,703 sqft |
| 2020-07-01 | 37 days | 1,704 sqft |
| 2020-08-01 | 35 days | 1,760 sqft |
| 2020-09-01 | 32 days | 1,788 sqft |
| 2020-10-01 | 36 days | 1,759 sqft |
| 2020-11-01 | 38 days | 1,706 sqft |
| 2020-12-01 | 41 days | 1,625 sqft |
| 2021-01-01 | 42 days | 1,605 sqft |
| 2021-02-01 | 32 days | 1,593 sqft |
| 2021-03-01 | 24 days | 1,603 sqft |
| 2021-04-01 | 23 days | 1,615 sqft |
| 2021-05-01 | 22 days | 1,666 sqft |
| 2021-06-01 | 23 days | 1,646 sqft |
| 2021-07-01 | 22 days | 1,634 sqft |
| 2021-08-01 | 27 days | 1,639 sqft |
| 2021-09-01 | 30 days | 1,610 sqft |
| 2021-10-01 | 31 days | 1,645 sqft |
| 2021-11-01 | 37 days | 1,638 sqft |
| 2021-12-01 | 41 days | 1,657 sqft |
| 2022-01-01 | 40 days | 1,633 sqft |
| 2022-02-01 | 27 days | 1,643 sqft |
| 2022-03-01 | 23 days | 1,680 sqft |
| 2022-04-01 | 22 days | 1,702 sqft |
| 2022-05-01 | 23 days | 1,723 sqft |
| 2022-06-01 | 27 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 | 1,730 sqft |
| 2022-11-01 | 51 days | 1,726 sqft |
| 2022-12-01 | 64 days | 1,724 sqft |
Bakersfield's median square footage for active listings during the 2022-12-01 period was 1,724 sqft. One year prior, the average listing was 1,657 sqft.