California VA Loan Rates, Closing Costs & Stats

CALIFORNIA-LEXINGTON PARK, MD

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 6.88% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    California's average VA mortgage closing costs are $7,012.

    The average rate for the prior week (2024-04-12) was 6.61% and one month ago for the week of 2024-03-15, the average rate was 6.27%.

    The average rate one year ago was 6.16%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

    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
    California's median listing price for 2024-03-01 was $520,000, a difference of $34,502 (7.1%) versus the prior year and $36,525 versus the prior month.

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

    California's average listing price for 2024-03-01 was $821,746, a difference of $283,505 (52.7%) versus the prior year and $75,151 versus the prior month.

    For the 2024-03-01 period, California had 132 MLS listings, a difference of 4 listings (3%) versus the prior month and -9 listings (-6%) 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
    California's median listing age (time on market) for 2024-03-01 was 0 days.

    California's median square footage for active listings during the 2024-03-01 period was 2,170 sqft. One year prior, the average listing was 2,208 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.