California VA Loan Rates, Closing Costs & Stats
CALIFORNIA-LEXINGTON PARK, MD
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.
California's 81 lenders originated 495 VA loans during 2023. The total origination value was $208,105,000, with an average VA loan value of $420,414.
California VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in California
averaged
5.52%
for the week of 2024-10-04, compared to the national average (all VA variants) of
5.596% for the same period.
California's average VA mortgage closing costs are $7,012.
The average rate for the prior week (2024-09-27) was
5.65% and
one month ago for the week of 2024-08-30, the
average rate was 5.77%.
The average rate one year ago was 6.91%.
For refis of the same type during the week of 2024-10-04, the average rate
was 5.8%.
California 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 California level.
The top California VA lender as defined by loan originations is FIRST HOME MORTGAGE CORPORATION, with
61 VA loans originated. Their average total fees are
$11,378, which is $3,717
higher than the next largest lender,
NAVY FEDERAL CREDIT UNION.
The lowest fee California VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC ($7,323), NAVY FEDERAL CREDIT UNION ($7,660), UNITED WHOLESALE MORTGAGE, LLC ($9,408), Presidential Bank, FSB ($9,666) and FIRST HOME MORTGAGE CORPORATION ($11,378).
The lowest rate California VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION (5.92%), Presidential Bank, FSB (6.08%), BAY CAPITAL MORTGAGE CORPORATION (6.14%), First Heritage Mortgage, LLC (6.16%) and QUICKEN LOANS, LLC (6.16%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - California (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $289,099 (5.1%) | $325,519 (7.7%) | 0.00 | 448 |
2018-02-01 | $285,000 (1.8%) | $326,756 (7.4%) | 0.00 | 447 |
2018-03-01 | $309,000 (6.6%) | $333,484 (4.6%) | 0.00 | 457 |
2018-04-01 | $314,900 (5.5%) | $345,701 (3.7%) | 0.00 | 477 |
2018-05-01 | $321,495 (7.6%) | $355,319 (6.2%) | 0.00 | 512 |
2018-06-01 | $320,835 (7.0%) | $355,717 (4.7%) | 0.00 | 556 |
2018-07-01 | $318,950 (4.6%) | $350,443 (1.8%) | 0.00 | 580 |
2018-08-01 | $303,498 (0.4%) | $350,908 (3.4%) | 0.00 | 557 |
2018-09-01 | $299,999 (0.1%) | $351,898 (3.6%) | 0.00 | 549 |
2018-10-01 | $299,394 (0.1%) | $342,502 (0.9%) | 0.00 | 558 |
2018-11-01 | $302,423 (3.0%) | $350,756 (5.3%) | 0.00 | 507 |
2018-12-01 | $292,158 (1.1%) | $337,497 (4.6%) | 0.00 | 458 |
2019-01-01 | $291,551 (0.9%) | $332,818 (2.2%) | 0.00 | 429 |
2019-02-01 | $296,276 (4.0%) | $336,139 (2.9%) | 0.00 | 429 |
2019-03-01 | $312,757 (1.2%) | $356,816 (7.0%) | 0.00 | 432 |
2019-04-01 | $329,923 (4.8%) | $382,698 (10.7%) | 0.00 | 432 |
2019-05-01 | $335,294 (4.3%) | $392,201 (10.4%) | 0.00 | 465 |
2019-06-01 | $334,950 (4.4%) | $388,078 (9.1%) | 0.00 | 498 |
2019-07-01 | $329,993 (3.5%) | $387,264 (10.5%) | 0.00 | 482 |
2019-08-01 | $332,655 (9.6%) | $383,409 (9.3%) | 0.00 | 454 |
2019-09-01 | $336,786 (12.3%) | $376,589 (7.0%) | 0.00 | 440 |
2019-10-01 | $340,000 (13.6%) | $371,738 (8.5%) | 0.00 | 430 |
2019-11-01 | $335,000 (10.8%) | $362,774 (3.4%) | 0.00 | 397 |
2019-12-01 | $338,000 (15.7%) | $360,195 (6.7%) | 0.00 | 361 |
2020-01-01 | $339,950 (16.6%) | $367,205 (10.3%) | 0.00 | 317 |
2020-02-01 | $345,000 (16.5%) | $378,993 (12.8%) | 0.00 | 309 |
2020-03-01 | $354,500 (13.4%) | $385,744 (8.1%) | 0.00 | 318 |
2020-04-01 | $366,225 (11.0%) | $396,106 (3.5%) | 0.00 | 310 |
2020-05-01 | $369,900 (10.3%) | $398,502 (1.6%) | 0.00 | 289 |
2020-06-01 | $356,123 (6.3%) | $404,721 (4.3%) | 0.00 | 247 |
2020-07-01 | $362,450 (9.8%) | $411,905 (6.4%) | 0.00 | 212 |
2020-08-01 | $365,000 (9.7%) | $421,466 (9.9%) | 0.00 | 165 |
2020-09-01 | $360,725 (7.1%) | $418,231 (11.1%) | 0.00 | 172 |
2020-10-01 | $339,950 (0.0%) | $404,474 (8.8%) | 0.00 | 191 |
2020-11-01 | $331,750 (-1.0%) | $408,569 (12.6%) | 0.00 | 193 |
2020-12-01 | $320,143 (-5.3%) | $380,010 (5.5%) | 0.00 | 169 |
2021-01-01 | $319,900 (-5.9%) | $374,631 (2.0%) | 0.00 | 145 |
2021-02-01 | $312,046 (-9.6%) | $357,157 (-5.8%) | 0.00 | 129 |
2021-03-01 | $315,975 (-10.9%) | $379,131 (-1.7%) | 0.00 | 128 |
2021-04-01 | $320,335 (-12.5%) | $361,365 (-8.8%) | 0.00 | 129 |
2021-05-01 | $349,999 (-5.4%) | $407,945 (2.4%) | 0.00 | 143 |
2021-06-01 | $357,450 (0.4%) | $442,292 (9.3%) | 0.00 | 172 |
2021-07-01 | $359,900 (-0.7%) | $466,663 (13.3%) | 0.00 | 184 |
2021-08-01 | $371,000 (1.6%) | $463,359 (9.9%) | 0.00 | 204 |
2021-09-01 | $374,950 (3.9%) | $491,436 (17.5%) | 0.00 | 186 |
2021-10-01 | $379,000 (11.5%) | $492,122 (21.7%) | 0.00 | 162 |
2021-11-01 | $383,490 (15.6%) | $523,244 (28.1%) | 0.00 | 145 |
2021-12-01 | $384,946 (20.2%) | $503,766 (32.6%) | 0.00 | 148 |
2022-01-01 | $388,500 (21.4%) | $543,191 (45.0%) | 0.00 | 110 |
2022-02-01 | $386,625 (23.9%) | $555,665 (55.6%) | 0.00 | 98 |
2022-03-01 | $399,700 (26.5%) | $530,150 (39.8%) | 0.00 | 104 |
2022-04-01 | $409,900 (28.0%) | $545,216 (50.9%) | 0.00 | 131 |
2022-05-01 | $428,700 (22.5%) | $539,091 (32.2%) | 0.00 | 161 |
2022-06-01 | $429,950 (20.3%) | $527,069 (19.2%) | 0.00 | 191 |
2022-07-01 | $419,900 (16.7%) | $510,580 (9.4%) | 0.00 | 220 |
2022-08-01 | $420,000 (13.2%) | $509,322 (9.9%) | 0.00 | 230 |
2022-09-01 | $417,450 (11.3%) | $503,164 (2.4%) | 0.00 | 206 |
2022-10-01 | $419,900 (10.8%) | $503,532 (2.3%) | 0.00 | 227 |
2022-11-01 | $404,900 (5.6%) | $490,854 (-6.2%) | 0.00 | 223 |
2022-12-01 | $399,900 (3.9%) | $495,402 (-1.7%) | 0.00 | 177 |
2023-01-01 | $402,400 (3.6%) | $487,197 (-10.3%) | 0.00 | 164 |
2023-02-01 | $450,975 (16.6%) | $531,854 (-4.3%) | 0.00 | 150 |
2023-03-01 | $485,498 (21.5%) | $538,241 (1.5%) | 0.00 | 141 |
2023-04-01 | $492,445 (20.1%) | $589,004 (8.0%) | 0.00 | 141 |
2023-05-01 | $496,743 (15.9%) | $613,238 (13.8%) | 0.00 | 149 |
2023-06-01 | $511,423 (19.0%) | $636,497 (20.8%) | 0.00 | 147 |
2023-07-01 | $499,650 (19.0%) | $618,510 (21.1%) | 0.00 | 161 |
2023-08-01 | $472,475 (12.5%) | $606,212 (19.0%) | 0.00 | 156 |
2023-09-01 | $472,450 (13.2%) | $612,760 (21.8%) | 0.00 | 152 |
2023-10-01 | $477,400 (13.7%) | $791,826 (57.3%) | 0.00 | 160 |
2023-11-01 | $482,450 (19.2%) | $814,772 (66.0%) | 0.00 | 160 |
2023-12-01 | $509,950 (27.5%) | $749,571 (51.3%) | 0.00 | 151 |
2024-01-01 | $475,400 (18.1%) | $741,398 (52.2%) | 0.00 | 135 |
2024-02-01 | $483,475 (7.2%) | $746,595 (40.4%) | 0.00 | 128 |
2024-03-01 | $520,000 (7.1%) | $821,746 (52.7%) | 0.00 | 132 |
2024-04-01 | $511,250 (3.8%) | $818,137 (38.9%) | 0.00 | 151 |
2024-05-01 | $493,625 (-0.6%) | $828,657 (35.1%) | 0.00 | 175 |
2024-06-01 | $527,500 (3.1%) | $828,976 (30.2%) | 0.00 | 176 |
2024-07-01 | $529,750 (6.0%) | $822,371 (33.0%) | 0.00 | 177 |
2024-08-01 | $507,250 (7.4%) | $813,711 (34.2%) | 0.00 | 178 |
2024-09-01 | $489,450 (3.6%) | $782,585 (27.7%) | 0.00 | 192 |
California's median listing price comes in at 0% of the national average.
California's average listing price for 2024-09-01 was $782,585, a difference of $169,825 (27.7%) versus the prior year and $-31,126 versus the prior month.
For the 2024-09-01 period, California had 192 MLS listings, a difference of 14 listings (8%) versus the prior month and 40 listings (26%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - California (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,920 sqft |
2018-02-01 | 0 days | 1,865 sqft |
2018-03-01 | 0 days | 1,887 sqft |
2018-04-01 | 0 days | 1,893 sqft |
2018-05-01 | 0 days | 1,974 sqft |
2018-06-01 | 0 days | 2,112 sqft |
2018-07-01 | 0 days | 2,036 sqft |
2018-08-01 | 0 days | 2,008 sqft |
2018-09-01 | 0 days | 2,016 sqft |
2018-10-01 | 0 days | 2,000 sqft |
2018-11-01 | 0 days | 1,976 sqft |
2018-12-01 | 0 days | 1,944 sqft |
2019-01-01 | 0 days | 1,988 sqft |
2019-02-01 | 0 days | 1,977 sqft |
2019-03-01 | 0 days | 2,055 sqft |
2019-04-01 | 0 days | 2,161 sqft |
2019-05-01 | 0 days | 2,169 sqft |
2019-06-01 | 0 days | 2,151 sqft |
2019-07-01 | 0 days | 2,134 sqft |
2019-08-01 | 0 days | 2,138 sqft |
2019-09-01 | 0 days | 2,173 sqft |
2019-10-01 | 0 days | 2,209 sqft |
2019-11-01 | 0 days | 2,200 sqft |
2019-12-01 | 0 days | 2,142 sqft |
2020-01-01 | 0 days | 2,197 sqft |
2020-02-01 | 0 days | 2,210 sqft |
2020-03-01 | 0 days | 2,254 sqft |
2020-04-01 | 0 days | 2,249 sqft |
2020-05-01 | 0 days | 2,292 sqft |
2020-06-01 | 0 days | 2,257 sqft |
2020-07-01 | 0 days | 2,308 sqft |
2020-08-01 | 0 days | 2,288 sqft |
2020-09-01 | 0 days | 2,326 sqft |
2020-10-01 | 0 days | 2,160 sqft |
2020-11-01 | 0 days | 2,087 sqft |
2020-12-01 | 0 days | 1,981 sqft |
2021-01-01 | 0 days | 2,016 sqft |
2021-02-01 | 0 days | 1,805 sqft |
2021-03-01 | 0 days | 1,974 sqft |
2021-04-01 | 0 days | 1,849 sqft |
2021-05-01 | 0 days | 2,083 sqft |
2021-06-01 | 0 days | 2,100 sqft |
2021-07-01 | 0 days | 2,114 sqft |
2021-08-01 | 0 days | 2,118 sqft |
2021-09-01 | 0 days | 2,148 sqft |
2021-10-01 | 0 days | 2,097 sqft |
2021-11-01 | 0 days | 2,048 sqft |
2021-12-01 | 0 days | 2,045 sqft |
2022-01-01 | 0 days | 2,078 sqft |
2022-02-01 | 0 days | 2,110 sqft |
2022-03-01 | 0 days | 2,092 sqft |
2022-04-01 | 0 days | 2,096 sqft |
2022-05-01 | 0 days | 2,199 sqft |
2022-06-01 | 0 days | 2,204 sqft |
2022-07-01 | 0 days | 2,156 sqft |
2022-08-01 | 0 days | 2,243 sqft |
2022-09-01 | 0 days | 2,092 sqft |
2022-10-01 | 0 days | 2,136 sqft |
2022-11-01 | 0 days | 2,162 sqft |
2022-12-01 | 0 days | 2,148 sqft |
2023-01-01 | 0 days | 2,199 sqft |
2023-02-01 | 0 days | 2,239 sqft |
2023-03-01 | 0 days | 2,208 sqft |
2023-04-01 | 0 days | 2,310 sqft |
2023-05-01 | 0 days | 2,274 sqft |
2023-06-01 | 0 days | 2,288 sqft |
2023-07-01 | 0 days | 2,350 sqft |
2023-08-01 | 0 days | 2,259 sqft |
2023-09-01 | 0 days | 2,359 sqft |
2023-10-01 | 0 days | 2,363 sqft |
2023-11-01 | 0 days | 2,363 sqft |
2023-12-01 | 0 days | 2,331 sqft |
2024-01-01 | 0 days | 2,134 sqft |
2024-02-01 | 0 days | 2,026 sqft |
2024-03-01 | 0 days | 2,170 sqft |
2024-04-01 | 0 days | 2,201 sqft |
2024-05-01 | 0 days | 2,149 sqft |
2024-06-01 | 0 days | 2,304 sqft |
2024-07-01 | 0 days | 2,395 sqft |
2024-08-01 | 0 days | 2,300 sqft |
2024-09-01 | 0 days | 2,276 sqft |
California's median square footage for active listings during the 2024-09-01 period was 2,276 sqft. One year prior, the average listing was 2,359 sqft.