Brookings VA Loan Rates, Closing Costs & Stats

Brookings, OR

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.

Brookings's 15 lenders originated 24 VA loans during 2023. The total origination value was $8,310,000, with an average VA loan value of $346,250.

Brookings VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Brookings averaged 0.63% for the week of 2024-11-29, compared to the national average (all VA variants) of 0% for the same period.

Brookings's average VA mortgage closing costs are $7,006.

The average rate for the prior week (2024-11-22) was 6.8% and one month ago for the week of 2024-10-25, the average rate was 6.49%.

The average rate one year ago was 7.24%.

For refis of the same type during the week of 2024-11-29, the average rate was 0.1%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Brookings 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 Brookings level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
CANOPY MORTGAGE, LLC 3 7.13% $9,427
Mortgage Research Center, LLC 3 7.13% $9,142
NEWREZ LLC 3 6.16% $17,199
HomeStreet Bank 2 6.38% $7,867
USAA Federal Savings Bank 1 7.13% $5,696
Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $17,830
V.I.P. MORTGAGE, INC. 1 5.75% $10,706
QUICKEN LOANS, LLC 1 5.63% $7,109
ROGUE 1 6.63% $3,755
SUMMIT FUNDING, INC. 1 6.50% $17,375
The Federal Savings Bank 1 7.75% $31,266
UNITED WHOLESALE MORTGAGE, LLC 1 6.59% $8,293
Equity Prime Mortgage LLC 1 6.00% $20,172
GUARANTEED RATE, INC. 1 7.23% $5,727
FREEDOM MORTGAGE CORPORATION 1 6.25% $22,501

The top Brookings VA lender as defined by loan originations is CANOPY MORTGAGE, LLC, with 3 VA loans originated. Their average total fees are $9,427, which is $285 higher than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Brookings VA lenders (with over 10 loans originated) are .

The lowest rate Brookings VA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Brookings (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 $394,175 (-2.2%) $630,947 (4.5%) 0.00 240
2018-02-01 $397,000 (-7.9%) $635,962 (3.4%) 0.00 234
2018-03-01 $399,900 (-5.9%) $646,287 (4.4%) 0.00 245
2018-04-01 $413,000 (-7.3%) $659,928 (6.4%) 0.00 243
2018-05-01 $426,000 (-2.6%) $691,836 (11.1%) 0.00 247
2018-06-01 $434,500 (8.7%) $666,122 (10.5%) 0.00 262
2018-07-01 $447,000 (12.0%) $662,422 (9.2%) 0.00 282
2018-08-01 $447,175 (7.2%) $657,509 (5.2%) 0.00 279
2018-09-01 $454,500 (13.6%) $684,817 (10.9%) 0.00 257
2018-10-01 $485,000 (18.4%) $693,655 (12.7%) 0.00 248
2018-11-01 $477,975 (16.7%) $671,180 (10.6%) 0.00 227
2018-12-01 $484,500 (21.4%) $666,904 (5.0%) 0.00 213
2019-01-01 $478,000 (21.3%) $654,424 (3.7%) 0.00 207
2019-02-01 $446,750 (12.5%) $640,521 (0.7%) 0.00 209
2019-03-01 $446,814 (11.7%) $634,397 (-1.8%) 0.00 227
2019-04-01 $448,064 (8.5%) $651,070 (-1.3%) 0.00 230
2019-05-01 $429,000 (0.7%) $625,349 (-9.6%) 0.00 247
2019-06-01 $430,000 (-1.0%) $615,741 (-7.6%) 0.00 270
2019-07-01 $433,500 (-3.0%) $624,104 (-5.8%) 0.00 251
2019-08-01 $429,909 (-3.9%) $626,004 (-4.8%) 0.00 241
2019-09-01 $437,273 (-3.8%) $627,822 (-8.3%) 0.00 230
2019-10-01 $446,500 (-7.9%) $629,034 (-9.3%) 0.00 217
2019-11-01 $450,000 (-5.9%) $633,894 (-5.6%) 0.00 189
2019-12-01 $454,250 (-6.2%) $639,884 (-4.1%) 0.00 165
2020-01-01 $453,250 (-5.2%) $637,477 (-2.6%) 0.00 153
2020-02-01 $450,000 (0.7%) $651,586 (1.7%) 0.00 144
2020-03-01 $460,450 (3.1%) $598,505 (-5.7%) 0.00 140
2020-04-01 $453,800 (1.3%) $635,046 (-2.5%) 0.00 147
2020-05-01 $449,250 (4.7%) $644,887 (3.1%) 0.00 149
2020-06-01 $448,000 (4.2%) $597,634 (-2.9%) 0.00 151
2020-07-01 $444,000 (2.4%) $606,631 (-2.8%) 0.00 143
2020-08-01 $449,450 (4.6%) $639,364 (2.1%) 0.00 118
2020-09-01 $449,500 (2.8%) $635,243 (1.2%) 0.00 95
2020-10-01 $420,000 (-5.9%) $598,117 (-4.9%) 0.00 94
2020-11-01 $435,000 (-3.3%) $643,956 (1.6%) 0.00 87
2020-12-01 $460,000 (1.3%) $671,875 (5.0%) 0.00 81
2021-01-01 $447,500 (-1.3%) $710,811 (11.5%) 0.00 68
2021-02-01 $434,800 (-3.4%) $608,668 (-6.6%) 0.00 58
2021-03-01 $451,750 (-1.9%) $838,685 (40.1%) 0.00 54
2021-04-01 $553,725 (22.0%) $1,026,183 (61.6%) 0.00 59
2021-05-01 $550,000 (22.4%) $929,291 (44.1%) 0.00 77
2021-06-01 $537,450 (20.0%) $923,038 (54.5%) 0.00 82
2021-07-01 $542,950 (22.3%) $851,526 (40.4%) 0.00 88
2021-08-01 $579,000 (28.8%) $898,508 (40.5%) 0.00 82
2021-09-01 $591,750 (31.7%) $933,123 (46.9%) 0.00 72
2021-10-01 $594,500 (41.6%) $927,328 (55.0%) 0.00 70
2021-11-01 $584,000 (34.3%) $966,436 (50.1%) 0.00 65
2021-12-01 $582,700 (26.7%) $990,805 (47.5%) 0.00 55
2022-01-01 $585,000 (30.7%) $1,031,827 (45.2%) 0.00 43
2022-02-01 $579,000 (33.2%) $1,066,445 (75.2%) 0.00 42
2022-03-01 $622,000 (37.7%) $944,648 (12.6%) 0.00 43
2022-04-01 $584,500 (5.6%) $967,237 (-5.7%) 0.00 46
2022-05-01 $560,750 (2.0%) $1,058,007 (13.9%) 0.00 52
2022-06-01 $604,250 (12.4%) $965,040 (4.6%) 0.00 75
2022-07-01 $649,000 (19.5%) $1,008,452 (18.4%) 0.00 92
2022-08-01 $615,000 (6.2%) $899,530 (0.1%) 0.00 112
2022-09-01 $588,975 (-0.5%) $909,741 (-2.5%) 0.00 106
2022-10-01 $577,000 (-2.9%) $964,074 (4.0%) 0.00 98
2022-11-01 $629,500 (7.8%) $1,048,984 (8.5%) 0.00 99
2022-12-01 $637,250 (9.4%) $1,076,113 (8.6%) 0.00 86
2023-01-01 $637,000 (8.9%) $1,088,333 (5.5%) 0.00 87
2023-02-01 $643,000 (11.1%) $1,086,356 (1.9%) 0.00 82
2023-03-01 $598,750 (-3.7%) $1,062,781 (12.5%) 0.00 85
2023-04-01 $599,000 (2.5%) $930,473 (-3.8%) 0.00 92
2023-05-01 $590,450 (5.3%) $824,785 (-22.0%) 0.00 108
2023-06-01 $649,250 (7.5%) $879,381 (-8.9%) 0.00 129
2023-07-01 $649,950 (0.2%) $862,055 (-14.5%) 0.00 137
2023-08-01 $649,600 (5.6%) $861,742 (-4.2%) 0.00 144
2023-09-01 $649,250 (10.2%) $853,088 (-6.2%) 0.00 144
2023-10-01 $596,000 (3.3%) $819,667 (-15.0%) 0.00 148
2023-11-01 $572,000 (-9.1%) $814,785 (-22.3%) 0.00 146
2023-12-01 $575,000 (-9.8%) $826,149 (-23.2%) 0.00 130
2024-01-01 $600,750 (-5.7%) $839,478 (-22.9%) 0.00 118
2024-02-01 $642,125 (-0.1%) $976,538 (-10.1%) 0.00 113
2024-03-01 $649,950 (8.6%) $981,137 (-7.7%) 0.00 121
2024-04-01 $649,850 (8.5%) $880,356 (-5.4%) 0.00 149
2024-05-01 $639,750 (8.4%) $914,190 (10.8%) 0.00 165
2024-06-01 $631,750 (-2.7%) $891,172 (1.3%) 0.00 172
2024-07-01 $631,000 (-2.9%) $898,810 (4.3%) 0.00 175
2024-08-01 $634,500 (-2.3%) $918,492 (6.6%) 0.00 172
2024-09-01 $621,000 (-4.4%) $926,162 (8.6%) 0.00 156
2024-10-01 $638,500 (7.1%) $964,124 (17.6%) 0.00 148
Brookings's median listing price for 2024-10-01 was $638,500, a difference of $42,500 (7.1%) versus the prior year and $17,500 versus the prior month.

Brookings's median listing price comes in at 0% of the national average.

Brookings's average listing price for 2024-10-01 was $964,124, a difference of $144,457 (17.6%) versus the prior year and $37,962 versus the prior month.

For the 2024-10-01 period, Brookings had 148 MLS listings, a difference of -8 listings (-5%) versus the prior month and 0 listings (0%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Brookings (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,947 sqft
2018-02-01 0 days 1,958 sqft
2018-03-01 0 days 1,991 sqft
2018-04-01 0 days 1,981 sqft
2018-05-01 0 days 2,034 sqft
2018-06-01 0 days 2,046 sqft
2018-07-01 0 days 2,071 sqft
2018-08-01 0 days 2,029 sqft
2018-09-01 0 days 1,960 sqft
2018-10-01 0 days 1,997 sqft
2018-11-01 0 days 2,015 sqft
2018-12-01 0 days 2,015 sqft
2019-01-01 0 days 2,019 sqft
2019-02-01 0 days 2,024 sqft
2019-03-01 0 days 2,010 sqft
2019-04-01 0 days 1,976 sqft
2019-05-01 0 days 1,936 sqft
2019-06-01 0 days 1,959 sqft
2019-07-01 0 days 1,965 sqft
2019-08-01 0 days 1,969 sqft
2019-09-01 0 days 1,973 sqft
2019-10-01 0 days 1,976 sqft
2019-11-01 0 days 1,984 sqft
2019-12-01 0 days 2,008 sqft
2020-01-01 0 days 2,023 sqft
2020-02-01 0 days 2,022 sqft
2020-03-01 0 days 2,049 sqft
2020-04-01 0 days 1,992 sqft
2020-05-01 0 days 1,945 sqft
2020-06-01 0 days 1,945 sqft
2020-07-01 0 days 1,945 sqft
2020-08-01 0 days 1,950 sqft
2020-09-01 0 days 1,933 sqft
2020-10-01 0 days 1,850 sqft
2020-11-01 0 days 1,919 sqft
2020-12-01 0 days 1,885 sqft
2021-01-01 0 days 1,916 sqft
2021-02-01 0 days 1,745 sqft
2021-03-01 0 days 1,945 sqft
2021-04-01 0 days 1,983 sqft
2021-05-01 0 days 1,850 sqft
2021-06-01 0 days 1,743 sqft
2021-07-01 0 days 1,707 sqft
2021-08-01 0 days 1,743 sqft
2021-09-01 0 days 1,807 sqft
2021-10-01 0 days 1,908 sqft
2021-11-01 0 days 1,823 sqft
2021-12-01 0 days 1,787 sqft
2022-01-01 0 days 1,709 sqft
2022-02-01 0 days 1,687 sqft
2022-03-01 0 days 1,750 sqft
2022-04-01 0 days 1,694 sqft
2022-05-01 0 days 1,637 sqft
2022-06-01 0 days 1,661 sqft
2022-07-01 0 days 1,805 sqft
2022-08-01 0 days 1,786 sqft
2022-09-01 0 days 1,832 sqft
2022-10-01 0 days 1,818 sqft
2022-11-01 0 days 1,924 sqft
2022-12-01 0 days 1,932 sqft
2023-01-01 0 days 1,913 sqft
2023-02-01 0 days 1,895 sqft
2023-03-01 0 days 1,812 sqft
2023-04-01 0 days 1,778 sqft
2023-05-01 0 days 1,779 sqft
2023-06-01 0 days 1,815 sqft
2023-07-01 0 days 1,838 sqft
2023-08-01 0 days 1,915 sqft
2023-09-01 0 days 1,789 sqft
2023-10-01 0 days 1,773 sqft
2023-11-01 0 days 1,714 sqft
2023-12-01 0 days 1,739 sqft
2024-01-01 0 days 1,808 sqft
2024-02-01 0 days 1,798 sqft
2024-03-01 0 days 1,852 sqft
2024-04-01 0 days 1,826 sqft
2024-05-01 0 days 1,815 sqft
2024-06-01 0 days 1,824 sqft
2024-07-01 0 days 1,800 sqft
2024-08-01 0 days 1,826 sqft
2024-09-01 0 days 1,814 sqft
2024-10-01 0 days 1,875 sqft
Brookings's median listing age (time on market) for 2024-10-01 was 0 days.

Brookings's median square footage for active listings during the 2024-10-01 period was 1,875 sqft. One year prior, the average listing was 1,773 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.