Cañon City VA Loan Rates, Closing Costs & Stats

Cañon City, CO

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.

Cañon City's 41 lenders originated 139 VA loans during 2023. The total origination value was $48,545,000, with an average VA loan value of $349,245.

Cañon City VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Cañon City averaged 5.87% for the week of 2024-10-04, compared to the national average (all VA variants) of 5.596% for the same period.

Cañon City's average VA mortgage closing costs are $6,075.

The average rate for the prior week (2024-09-27) was 5.9% and one month ago for the week of 2024-08-30, the average rate was 6.02%.

The average rate one year ago was 7.06%.

For refis of the same type during the week of 2024-10-04, the average rate was 5.4%.

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

Cañon City 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 Cañon City level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 24 6.12% $7,624
Mortgage Research Center, LLC 13 6.65% $7,560
QUICKEN LOANS, LLC 12 6.38% $12,565
NAVY FEDERAL CREDIT UNION 10 5.83% $3,720
MORTGAGE SOLUTIONS OF COLORADO, LLC 7 6.89% $11,076
FREEDOM MORTGAGE CORPORATION 5 6.35% $19,167
LOANDEPOT.COM, LLC 5 6.58% $9,403
NEW DAY FINANCIAL, LLC 4 7.34% $8,860
LOANPAL, LLC 3 5.58% $23,072
CARDINAL FINANCIAL 3 6.50% $8,548
The Central Trust Bank 3 6.62% $13,956
PENNYMAC LOAN SERVICES, LLC 2 5.19% $9,206
BROKER SOLUTIONS, INC. 2 6.63% $11,181
Ent Credit Union 2 6.31% $4,551
GUARANTEED RATE, INC. 2 5.71% $2,429
PENTAGON FEDERAL CREDIT UNION 2 5.13% $5,095
The Federal Savings Bank 2 6.25% $17,182
MICHIGAN MUTUAL, INC. 1 5.13% $11,934
Mid-Continent Funding, Inc. 1 6.49% $16,992
EVERETT FINANCIAL, INC. 1 6.13% $7,995
CROSSCOUNTRY MORTGAGE, LLC 1 6.50% $995
MOVEMENT MORTGAGE, LLC 1 6.25% $3,546
Nations Lending Corporation 1 5.25% $6,827
CORNERSTONE HOME LENDING, INC. 1 5.75% $8,447
NBH Bank 1 6.88% $8,374
BAY EQUITY LLC 1 6.63% $2,353
NEWREZ LLC 1 5.50% $6,769
NFM, INC. 1 6.63% $9,229
Northpointe Bank 1 5.75% $17,582
NOVA FINANCIAL & INVESTMENT CORPORATION 1 6.25% $5,741
AMERICAN FINANCIAL RESOURCES, INC. 1 6.88% $2,633
USAA Federal Savings Bank 1 7.13% $2,254
PLAZA HOME MORTGAGE, INC. 1 7.25% $12,238
AXIA FINANCIAL, LLC 1 5.75% $12,661
Strong Home Mortgage, LLC 1 6.75% $21,170
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.88% $20,551
VERITAS FUNDING, LLC 1 6.50% $13,694
THE MORTGAGE COMPANY 1 7.13% $13,172
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.50% $19,239
FLAT BRANCH MORTGAGE, INC. 1 6.25% $9,829
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.63% $7,475

The top Cañon City VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 24 VA loans originated. Their average total fees are $7,624, which is $64 higher than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Cañon City VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($3,720), Mortgage Research Center, LLC ($7,560), UNITED WHOLESALE MORTGAGE, LLC ($7,624), QUICKEN LOANS, LLC ($12,565) and .

The lowest rate Cañon City VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.83%), UNITED WHOLESALE MORTGAGE, LLC (6.12%), QUICKEN LOANS, LLC (6.38%), Mortgage Research Center, LLC (6.65%) and .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Cañon City (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 $279,975 (13.8%) $388,350 (11.5%) 0.00 168
2018-02-01 $291,250 (20.1%) $399,052 (14.0%) 0.00 163
2018-03-01 $302,500 (5.6%) $369,987 (0.7%) 0.00 163
2018-04-01 $324,190 (11.8%) $389,474 (0.7%) 0.00 178
2018-05-01 $320,979 (-0.5%) $422,219 (6.4%) 0.00 203
2018-06-01 $328,257 (9.6%) $428,161 (12.5%) 0.00 229
2018-07-01 $317,500 (8.7%) $421,987 (14.9%) 0.00 229
2018-08-01 $313,700 (6.4%) $410,276 (9.6%) 0.00 239
2018-09-01 $300,000 (4.0%) $399,491 (5.4%) 0.00 251
2018-10-01 $299,900 (-6.6%) $390,066 (-3.0%) 0.00 262
2018-11-01 $314,150 (7.7%) $396,164 (2.2%) 0.00 244
2018-12-01 $299,900 (9.0%) $399,824 (4.9%) 0.00 216
2019-01-01 $299,900 (7.1%) $401,195 (3.3%) 0.00 204
2019-02-01 $311,575 (7.0%) $405,333 (1.6%) 0.00 187
2019-03-01 $326,400 (7.9%) $418,127 (13.0%) 0.00 195
2019-04-01 $329,000 (1.5%) $430,669 (10.6%) 0.00 205
2019-05-01 $321,990 (0.3%) $412,634 (-2.3%) 0.00 216
2019-06-01 $326,850 (-0.4%) $421,043 (-1.7%) 0.00 234
2019-07-01 $325,463 (2.5%) $423,108 (0.3%) 0.00 253
2019-08-01 $322,259 (2.7%) $422,832 (3.1%) 0.00 255
2019-09-01 $318,148 (6.1%) $416,653 (4.3%) 0.00 256
2019-10-01 $315,432 (5.2%) $412,765 (5.8%) 0.00 257
2019-11-01 $312,000 (-0.7%) $405,411 (2.3%) 0.00 234
2019-12-01 $298,700 (-0.4%) $402,320 (0.6%) 0.00 232
2020-01-01 $285,000 (-5.0%) $403,671 (0.6%) 0.00 218
2020-02-01 $310,000 (-0.5%) $426,383 (5.2%) 0.00 200
2020-03-01 $325,000 (-0.4%) $447,176 (7.0%) 0.00 202
2020-04-01 $328,450 (-0.2%) $449,283 (4.3%) 0.00 192
2020-05-01 $350,950 (9.0%) $448,460 (8.7%) 0.00 190
2020-06-01 $350,000 (7.1%) $459,290 (9.1%) 0.00 193
2020-07-01 $358,000 (10.0%) $462,989 (9.4%) 0.00 181
2020-08-01 $356,500 (10.6%) $483,476 (14.3%) 0.00 172
2020-09-01 $345,125 (8.5%) $470,786 (13.0%) 0.00 158
2020-10-01 $354,000 (12.2%) $468,134 (13.4%) 0.00 139
2020-11-01 $359,925 (15.4%) $474,472 (17.0%) 0.00 123
2020-12-01 $349,365 (17.0%) $453,356 (12.7%) 0.00 123
2021-01-01 $349,758 (22.7%) $446,043 (10.5%) 0.00 100
2021-02-01 $329,400 (6.3%) $429,230 (0.7%) 0.00 87
2021-03-01 $364,250 (12.1%) $441,684 (-1.2%) 0.00 74
2021-04-01 $385,794 (17.5%) $466,430 (3.8%) 0.00 70
2021-05-01 $428,500 (22.1%) $533,418 (18.9%) 0.00 67
2021-06-01 $408,250 (16.6%) $584,357 (27.2%) 0.00 91
2021-07-01 $410,000 (14.5%) $604,915 (30.7%) 0.00 100
2021-08-01 $399,750 (12.1%) $575,440 (19.0%) 0.00 118
2021-09-01 $393,817 (14.1%) $521,250 (10.7%) 0.00 151
2021-10-01 $359,000 (1.4%) $486,815 (4.0%) 0.00 144
2021-11-01 $371,200 (3.1%) $544,493 (14.8%) 0.00 125
2021-12-01 $381,225 (9.1%) $614,033 (35.4%) 0.00 106
2022-01-01 $400,000 (14.4%) $686,219 (53.9%) 0.00 98
2022-02-01 $415,000 (26.0%) $730,167 (70.1%) 0.00 85
2022-03-01 $442,999 (21.6%) $754,172 (70.8%) 0.00 77
2022-04-01 $437,500 (13.4%) $703,478 (50.8%) 0.00 99
2022-05-01 $431,975 (0.8%) $642,517 (20.5%) 0.00 136
2022-06-01 $416,750 (2.1%) $595,475 (1.9%) 0.00 161
2022-07-01 $404,950 (-1.2%) $575,843 (-4.8%) 0.00 205
2022-08-01 $420,875 (5.3%) $594,880 (3.4%) 0.00 224
2022-09-01 $398,250 (1.1%) $584,667 (12.2%) 0.00 236
2022-10-01 $375,000 (4.5%) $564,798 (16.0%) 0.00 237
2022-11-01 $371,450 (0.1%) $513,841 (-5.6%) 0.00 226
2022-12-01 $369,000 (-3.2%) $502,094 (-18.2%) 0.00 205
2023-01-01 $364,125 (-9.0%) $501,468 (-26.9%) 0.00 179
2023-02-01 $363,938 (-12.3%) $524,111 (-28.2%) 0.00 149
2023-03-01 $394,500 (-11.0%) $537,509 (-28.7%) 0.00 147
2023-04-01 $437,900 (0.1%) $566,451 (-19.5%) 0.00 149
2023-05-01 $455,000 (5.3%) $610,856 (-4.9%) 0.00 140
2023-06-01 $463,700 (11.3%) $624,827 (4.9%) 0.00 153
2023-07-01 $475,000 (17.3%) $631,032 (9.6%) 0.00 171
2023-08-01 $475,000 (12.9%) $606,734 (2.0%) 0.00 180
2023-09-01 $455,000 (14.3%) $599,160 (2.5%) 0.00 196
2023-10-01 $429,250 (14.5%) $559,827 (-0.9%) 0.00 205
2023-11-01 $420,000 (13.1%) $544,059 (5.9%) 0.00 211
2023-12-01 $425,000 (15.2%) $530,246 (5.6%) 0.00 189
2024-01-01 $424,975 (16.7%) $517,484 (3.2%) 0.00 177
2024-02-01 $422,000 (16.0%) $535,309 (2.1%) 0.00 164
2024-03-01 $437,500 (10.9%) $522,672 (-2.8%) 0.00 153
2024-04-01 $452,500 (3.3%) $514,243 (-9.2%) 0.00 172
2024-05-01 $454,750 (-0.1%) $535,612 (-12.3%) 0.00 200
2024-06-01 $455,000 (-1.9%) $560,771 (-10.3%) 0.00 222
2024-07-01 $459,000 (-3.4%) $579,962 (-8.1%) 0.00 236
2024-08-01 $459,900 (-3.2%) $590,465 (-2.7%) 0.00 253
2024-09-01 $454,975 (0.0%) $586,060 (-2.2%) 0.00 269
Cañon City's median listing price for 2024-09-01 was $454,975, a difference of $-25 (0.0%) versus the prior year and $-4,925 versus the prior month.

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

Cañon City's average listing price for 2024-09-01 was $586,060, a difference of $-13,100 (-2.2%) versus the prior year and $-4,405 versus the prior month.

For the 2024-09-01 period, Cañon City had 269 MLS listings, a difference of 16 listings (6%) versus the prior month and 73 listings (37%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Cañon City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,075 sqft
2018-02-01 0 days 2,117 sqft
2018-03-01 0 days 2,208 sqft
2018-04-01 0 days 2,342 sqft
2018-05-01 0 days 2,191 sqft
2018-06-01 0 days 2,179 sqft
2018-07-01 0 days 2,140 sqft
2018-08-01 0 days 2,082 sqft
2018-09-01 0 days 1,945 sqft
2018-10-01 0 days 1,997 sqft
2018-11-01 0 days 1,942 sqft
2018-12-01 0 days 1,885 sqft
2019-01-01 0 days 1,843 sqft
2019-02-01 0 days 2,002 sqft
2019-03-01 0 days 2,055 sqft
2019-04-01 0 days 2,054 sqft
2019-05-01 0 days 1,948 sqft
2019-06-01 0 days 2,052 sqft
2019-07-01 0 days 2,074 sqft
2019-08-01 0 days 2,087 sqft
2019-09-01 0 days 1,984 sqft
2019-10-01 0 days 1,904 sqft
2019-11-01 0 days 1,849 sqft
2019-12-01 0 days 1,833 sqft
2020-01-01 0 days 1,772 sqft
2020-02-01 0 days 1,782 sqft
2020-03-01 0 days 1,850 sqft
2020-04-01 0 days 1,938 sqft
2020-05-01 0 days 2,000 sqft
2020-06-01 0 days 2,016 sqft
2020-07-01 0 days 2,089 sqft
2020-08-01 0 days 2,016 sqft
2020-09-01 0 days 1,883 sqft
2020-10-01 0 days 1,824 sqft
2020-11-01 0 days 2,031 sqft
2020-12-01 0 days 1,834 sqft
2021-01-01 0 days 1,712 sqft
2021-02-01 0 days 1,634 sqft
2021-03-01 0 days 1,751 sqft
2021-04-01 0 days 1,598 sqft
2021-05-01 0 days 1,920 sqft
2021-06-01 0 days 2,003 sqft
2021-07-01 0 days 1,969 sqft
2021-08-01 0 days 1,890 sqft
2021-09-01 0 days 1,856 sqft
2021-10-01 0 days 1,826 sqft
2021-11-01 0 days 1,802 sqft
2021-12-01 0 days 1,781 sqft
2022-01-01 0 days 1,863 sqft
2022-02-01 0 days 1,881 sqft
2022-03-01 0 days 1,865 sqft
2022-04-01 0 days 1,870 sqft
2022-05-01 0 days 1,806 sqft
2022-06-01 0 days 1,703 sqft
2022-07-01 0 days 1,693 sqft
2022-08-01 0 days 1,701 sqft
2022-09-01 0 days 1,693 sqft
2022-10-01 0 days 1,667 sqft
2022-11-01 0 days 1,636 sqft
2022-12-01 0 days 1,683 sqft
2023-01-01 0 days 1,644 sqft
2023-02-01 0 days 1,732 sqft
2023-03-01 0 days 1,890 sqft
2023-04-01 0 days 1,981 sqft
2023-05-01 0 days 2,048 sqft
2023-06-01 0 days 1,887 sqft
2023-07-01 0 days 2,085 sqft
2023-08-01 0 days 2,117 sqft
2023-09-01 0 days 1,999 sqft
2023-10-01 0 days 1,858 sqft
2023-11-01 0 days 1,792 sqft
2023-12-01 0 days 1,849 sqft
2024-01-01 0 days 1,782 sqft
2024-02-01 0 days 1,781 sqft
2024-03-01 0 days 1,756 sqft
2024-04-01 0 days 1,845 sqft
2024-05-01 0 days 1,862 sqft
2024-06-01 0 days 1,804 sqft
2024-07-01 0 days 1,805 sqft
2024-08-01 0 days 1,908 sqft
2024-09-01 0 days 1,882 sqft
Cañon City's median listing age (time on market) for 2024-09-01 was 0 days.

Cañon City's median square footage for active listings during the 2024-09-01 period was 1,882 sqft. One year prior, the average listing was 1,999 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.