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 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
0.03%
for the week of 2023-06-02, compared to the national average (all VA variants) of
0% for the same period.
Bakersfield's average VA mortgage closing costs are $5,960.
The average rate for the prior week (2023-05-26) was
6.36% and
one month ago for the week of 2023-04-28, the
average rate was 5.71%.
The average rate one year ago was 4.87%.
For refis of the same type during the week of 2023-06-02, the average rate
was -1.33%.
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 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 |
Bakersfield's median listing price comes in at 88% of the national average.
Bakersfield's average listing price for 2023-05-01 was $450,601, a difference of $5,610 (1.3%) versus the prior year and $4,143 versus the prior month.
For the 2023-05-01 period, Bakersfield had 1,024 MLS listings, a difference of 101 listings (11%) versus the prior month and -156 listings (-13%) 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 |
Bakersfield's median square footage for active listings during the 2023-05-01 period was 1,756 sqft. One year prior, the average listing was 1,719 sqft.