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%.

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

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.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FIRST HOME MORTGAGE CORPORATION 61 6.28% $11,378
NAVY FEDERAL CREDIT UNION 52 5.92% $7,660
Mortgage Research Center, LLC 42 6.75% $7,323
UNITED WHOLESALE MORTGAGE, LLC 23 6.23% $9,408
QUICKEN LOANS, LLC 22 6.16% $14,707
BAY CAPITAL MORTGAGE CORPORATION 17 6.14% $16,220
MOVEMENT MORTGAGE, LLC 17 6.44% $11,771
First Heritage Mortgage, LLC 15 6.16% $12,737
Towne Bank 14 6.46% $12,605
Presidential Bank, FSB 13 6.08% $9,666
PRIMELENDING, A PLAINSCAPITAL COMPANY 8 6.61% $8,903
NEW DAY FINANCIAL, LLC 8 7.53% $15,115
EAGLE HOME MORTGAGE, LLC 7 5.38% $7,325
EQUITY RESOURCES, INC. 7 6.43% $10,070
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 5.73% $8,237
CMG MORTGAGE, INC. 7 5.80% $11,014
PENNYMAC LOAN SERVICES, LLC 7 5.38% $12,737
PRIMARY RESIDENTIAL MORTGAGE, INC. 6 6.79% $16,688
Vellum Mortgage, Inc. 6 6.38% $12,402
LOANDEPOT.COM, LLC 6 6.08% $17,903
HOMEAMERICAN MORTGAGE CORPORATION 5 5.75% $8,426
NFM, INC. 5 6.75% $7,488
Plains Commerce Bank 5 6.23% $14,608
CORNERSTONE HOME LENDING, INC. 5 6.80% $7,223
USAA Federal Savings Bank 5 6.95% $13,613
INTERLINC MORTGAGE SERVICES, LLC 5 6.50% $12,695
Prosperity Home Mortgage, LLC 4 6.19% $12,377
The Federal Savings Bank 4 6.50% $17,944
Waterstone Mortgage Corporation 4 6.06% $14,891
FREEDOM MORTGAGE CORPORATION 4 6.88% $13,618
PENTAGON FEDERAL CREDIT UNION 3 5.63% $6,048
EMBRACE HOME LOANS, INC. 3 6.04% $11,522
GUARANTEED RATE AFFINITY, LLC 3 6.67% $11,412
GUARANTEED RATE, INC. 3 5.51% $5,839
CROSSCOUNTRY MORTGAGE, LLC 3 6.25% $12,975
NBKC BANK 3 5.75% $11,394
NEWREZ LLC 3 6.79% $11,335
LEADERONE FINANCIAL CORPORATION 2 7.38% $4,315
AMERICAN FINANCIAL NETWORK, INC. 2 6.50% $13,597
Ameris Bank 2 6.56% $8,282
Atlantic Coast Mortgage, LLC 2 6.38% $13,865
Barrington Bank & Trust Company, N.A. 2 6.25% $13,574
BAY EQUITY LLC 2 6.31% $10,172
CALIBER HOME LOANS, INC. 2 6.25% $17,382
JPMorgan Chase Bank 2 5.50% $1,127
LAKEVIEW LOAN SERVICING, LLC 2 5.63% $12,412
MORTGAGEONE, INC. 2 7.06% $3,129
Mr. Cooper ( Nationstar Mortgage ) 2 6.00% $17,514
PLANET HOME LENDING, LLC 2 6.50% $11,319
Wells Fargo Bank 2 6.19% $4,614
ACADEMY MORTGAGE CORPORATION 1 5.75% $22,415
INTERCOASTAL MORTGAGE COMPANY 1 6.25% $4,687
Integrity Home Mortgage Corp 1 6.25% $11,086
NORTHPOINT MORTGAGE, INC. 1 7.50% $9,803
NORWICH COMMERCIAL GROUP, INC. 1 6.75% $15,585
Paramount Residential Mortgage Group, Inc. 1 6.75% $9,654
George Mason Mortgage, LLC 1 6.13% $6,506
GENEVA FINANCIAL, LLC 1 6.63% $9,338
FIRST SAVINGS MORTGAGE CORPORATION 1 5.75% $12,958
Alcova Mortgage LLC 1 5.63% $7,700
PREMIA MORTGAGE, LLC 1 6.25% $3,581
First National Bank Texas 1 6.25% $17,638
EVERETT FINANCIAL, INC. 1 6.13% $7,484
ENVOY MORTGAGE, LTD 1 7.13% $9,393
Dollar Bank, Federal Savings Bank 1 6.75% $5,085
CONTOUR MORTGAGE CORPORATION 1 6.00% $6,205
RELIANCE FIRST CAPITAL, LLC 1 6.00% $30,950
STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 1 6.75% $3,772
Stifel Bank and Trust 1 6.63% $9,596
SUCCESS MORTGAGE PARTNERS, INC. 1 6.38% $15,595
SUN WEST MORTGAGE COMPANY, INC. 1 7.13% $10,802
BNC National Bank 1 5.25% $5,015
The Loan Store, Inc. 1 6.88% $19,916
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.13% $5,518
AMERISAVE MORTGAGE CORPORATION 1 6.75% $15,386
UNIVERSAL MORTGAGE & FINANCE, INC. 1 5.50% $20,881
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.75% $6,665
American Mortgage & Equity Consultants, Inc. 1 6.75% $15,135
VILLAGE CAPITAL MORTGAGE 1 5.50% $9,901
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $14,791
MID AMERICA MORTGAGE, INC. 1 6.13% $2,992

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. Louis
Date 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 for 2024-09-01 was $489,450, a difference of $17,000 (3.6%) versus the prior year and $-17,800 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2024-09-01 was 0 days.

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.

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.