Chico VA Loan Rates, Closing Costs & Stats

CHICO, CA

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    • 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.

    Chico's 75 lenders originated 635 VA loans during 2021. The total origination value was $206,145,000, with an average VA loan value of $324,638.

    Chico VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Chico averaged 0.16% for the week of 2022-11-25, compared to the national average (all VA variants) of 0% for the same period.

    Chico's average VA mortgage closing costs are $5,896.

    The average rate for the prior week (2022-11-18) was 6.55% and one month ago for the week of 2022-10-21, the average rate was 7.09%.

    The average rate one year ago was 3.18%.

    For refis of the same type during the week of 2022-11-25, the average rate was 0.36%.

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

    Chico 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 Chico level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    QUICKEN LOANS, LLC 55 2.45% $6,009
    PENNYMAC LOAN SERVICES, LLC 48 2.31% $6,419
    FREEDOM MORTGAGE CORPORATION 48 2.33% $2,604
    CALIBER HOME LOANS, INC. 38 2.67% $7,108
    Mortgage Research Center, LLC 36 2.93% $5,108
    UNITED WHOLESALE MORTGAGE, LLC 29 2.52% $5,204
    SUMMIT FUNDING, INC. 27 2.89% $7,111
    Commerce Home Mortgage, Inc. 24 2.80% $7,783
    LOANDEPOT.COM, LLC 18 2.56% $5,097
    LAKEVIEW LOAN SERVICING, LLC 18 2.55% $2,410
    HOME POINT FINANCIAL CORPORATION 18 2.42% $6,483
    GUILD MORTGAGE COMPANY 12 2.71% $7,103
    HOMEBRIDGE FINANCIAL SERVICES, INC. 12 2.82% $6,453
    USAA Federal Savings Bank 12 2.88% $3,865
    Mr. Cooper ( Nationstar Mortgage ) 11 2.75% $4,141
    NEW DAY FINANCIAL, LLC 10 2.87% $9,544
    AMERICAN PACIFIC MORTGAGE CORPORATION 10 2.83% $7,530
    Paramount Residential Mortgage Group, Inc. 10 2.59% $6,576
    VILLAGE CAPITAL MORTGAGE 10 2.31% $2,699
    MOVEMENT MORTGAGE, LLC 8 2.92% $10,797
    NAVY FEDERAL CREDIT UNION 8 2.48% $3,733
    The Federal Savings Bank 7 2.70% $7,878
    Barrington Bank & Trust Company, N.A. 7 2.77% $8,093
    CROSSCOUNTRY MORTGAGE, LLC 6 2.85% $3,218
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 6 3.64% $6,091
    NEWREZ LLC 5 2.45% $4,011
    AMERICAN FINANCIAL NETWORK, INC. 5 2.48% $7,331
    Low VA Rates, LLC 5 2.25% $7,232
    GUARANTEED RATE, INC. 4 2.53% $5,027
    PLANET HOME LENDING, LLC 4 2.22% $1,831
    SOVEREIGN LENDING GROUP INCORPORATED 3 2.75% $7,427
    CLEARPATH LENDING 3 2.29% $6,754
    FINANCE OF AMERICA MORTGAGE LLC 3 2.83% $14,598
    First Federal Bank 3 2.63% $12,633
    Hometown Lenders, Inc. 3 2.75% $7,449
    LOANPAL, LLC 3 2.29% $13,242
    PREMIER MORTGAGE RESOURCES, L.L.C. 3 2.79% $9,545
    Wells Fargo Bank 3 2.42% $3,162
    MUTUAL OF OMAHA MORTGAGE, INC. 2 2.63% $3,765
    AMERISAVE MORTGAGE CORPORATION 2 2.88% $16,909
    AMERICAN FINANCIAL RESOURCES, INC. 2 2.75% $4,543
    Carrington Mortgage Services, LLC 2 3.88% $13,534
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 2.75% $3,865
    Nations Lending Corporation 2 3.06% $8,959
    Lakeview Community Capital, LLC 2 2.38% $3,542
    North American Savings Bank, F.S.B. 2 2.31% $2,664
    NP, Inc. 2 2.25% $5,678
    NBKC BANK 1 2.63% $2,865
    NETWORK CAPITAL FUNDING CORPORATION 1 2.63% $854
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.75% $4,943
    CANOPY MORTGAGE, LLC 1 2.25% $1,433
    BROKER SOLUTIONS, INC. 1 2.25% $4,486
    PENTAGON FEDERAL CREDIT UNION 1 2.25% $1,337
    BNC National Bank 1 2.25% $3,182
    Willamette Valley Bank 1 2.75% $14,144
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.63% $7,324
    BEST CAPITAL FUNDING 1 2.25% $18,512
    Sierra Pacific Mortgage Company, Inc. 1 2.50% $2,702
    SNAPFI, INC. 1 2.25% $4,660
    ACCELERATE MORTGAGE, LLC 1 2.25% $3,509
    BAYSHORE MORTGAGE FUNDING, LLC 1 2.75% $1,074
    Alaska USA Mortgage Company LLC 1 2.63% $3,909
    U.S. Bank 1 3.00% $2,905
    Alaska USA Federal Credit Union 1 2.63% $3,909
    HOMESIDE FINANCIAL, LLC 1 2.75% $4,340
    Watermark Capital, Inc. 1 2.25% $150
    Flagstar Bank, FSB 1 2.57% $1,872
    First Guaranty Mortgage Corporation 1 3.38% $1,832
    MASON MCDUFFIE MORTGAGE CORPORATION 1 2.25% $3,987
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.38% $1,670
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $2,977
    ENVOY MORTGAGE, LTD 1 2.75% $18,213
    CORNERSTONE HOME LENDING, INC. 1 2.99% $7,933
    NATIONS DIRECT MORTGAGE, LLC 1 3.25% $3,553
    CONTOUR MORTGAGE CORPORATION 1 2.25% $2,424

    The top Chico VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 55 VA loans originated. Their average total fees are $6,009, which is $410 lower than the next largest lender, PENNYMAC LOAN SERVICES, LLC.

    The lowest fee Chico VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,410), FREEDOM MORTGAGE CORPORATION ($2,604), VILLAGE CAPITAL MORTGAGE ($2,699), USAA Federal Savings Bank ($3,865) and Mr. Cooper ( Nationstar Mortgage ) ($4,141).

    The lowest rate Chico VA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (2.31%), PENNYMAC LOAN SERVICES, LLC (2.31%), FREEDOM MORTGAGE CORPORATION (2.33%), HOME POINT FINANCIAL CORPORATION (2.42%) and QUICKEN LOANS, LLC (2.45%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Chico (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 $287,450 (-0.1%) $381,482 (10.3%) 1.07 415
    2018-02-01 $293,750 (2.1%) $380,820 (7.5%) 1.07 421
    2018-03-01 $329,000 (14.3%) $409,710 (16.5%) 1.15 470
    2018-04-01 $324,950 (12.4%) $390,656 (5.7%) 1.10 520
    2018-05-01 $329,625 (12.6%) $394,507 (4.5%) 1.10 588
    2018-06-01 $319,450 (9.8%) $383,082 (4.3%) 1.07 629
    2018-07-01 $323,575 (12.4%) $387,376 (7.5%) 1.08 680
    2018-08-01 $316,375 (9.9%) $376,846 (3.3%) 1.06 711
    2018-09-01 $315,500 (9.6%) $366,600 (-1.6%) 1.06 731
    2018-10-01 $312,500 (8.3%) $367,177 (-1.3%) 1.06 726
    2018-11-01 $302,438 (5.1%) $370,054 (0.0%) 1.03 574
    2018-12-01 $329,000 (14.3%) $392,817 (4.0%) 1.13 342
    2019-01-01 $334,500 (16.4%) $391,323 (2.6%) 1.15 396
    2019-02-01 $332,500 (13.2%) $383,801 (0.8%) 1.12 413
    2019-03-01 $346,714 (5.4%) $396,807 (-3.2%) 1.13 389
    2019-04-01 $366,214 (12.7%) $416,002 (6.5%) 1.16 401
    2019-05-01 $370,000 (12.3%) $427,159 (8.3%) 1.16 499
    2019-06-01 $369,000 (15.5%) $424,173 (10.7%) 1.15 554
    2019-07-01 $358,255 (10.7%) $421,912 (8.9%) 1.12 613
    2019-08-01 $355,462 (12.4%) $421,463 (11.8%) 1.13 629
    2019-09-01 $352,390 (11.7%) $421,589 (15.0%) 1.13 613
    2019-10-01 $350,000 (12.0%) $421,673 (14.8%) 1.13 585
    2019-11-01 $349,500 (15.6%) $423,281 (14.4%) 1.15 528
    2019-12-01 $351,715 (6.9%) $431,692 (9.9%) 1.17 464
    2020-01-01 $362,500 (8.4%) $445,568 (13.9%) 1.21 389
    2020-02-01 $379,500 (14.1%) $440,942 (14.9%) 1.24 351
    2020-03-01 $389,000 (12.2%) $454,168 (14.5%) 1.22 346
    2020-04-01 $399,000 (9.0%) $466,651 (12.2%) 1.25 347
    2020-05-01 $418,000 (13.0%) $474,953 (11.2%) 1.27 364
    2020-06-01 $424,000 (14.9%) $475,467 (12.1%) 1.25 345
    2020-07-01 $405,000 (13.1%) $481,051 (14.0%) 1.17 305
    2020-08-01 $417,000 (17.3%) $480,119 (13.9%) 1.19 307
    2020-09-01 $399,750 (13.4%) $473,628 (12.3%) 1.15 288
    2020-10-01 $398,000 (13.7%) $460,962 (9.3%) 1.14 308
    2020-11-01 $389,225 (11.4%) $456,687 (7.9%) 1.14 321
    2020-12-01 $399,000 (13.4%) $459,965 (6.6%) 1.19 265
    2021-01-01 $399,550 (10.2%) $465,300 (4.4%) 1.19 243
    2021-02-01 $421,613 (11.1%) $511,874 (16.1%) 1.23 234
    2021-03-01 $417,500 (7.3%) $514,341 (13.3%) 1.18 233
    2021-04-01 $430,250 (7.8%) $547,253 (17.3%) 1.16 224
    2021-05-01 $450,000 (7.7%) $562,981 (18.5%) 1.19 236
    2021-06-01 $452,250 (6.7%) $564,561 (18.7%) 1.19 252
    2021-07-01 $447,000 (10.4%) $550,888 (14.5%) 1.18 282
    2021-08-01 $433,750 (4.0%) $510,201 (6.3%) 1.16 312
    2021-09-01 $437,450 (9.4%) $502,209 (6.0%) 1.17 317
    2021-10-01 $449,000 (12.8%) $541,429 (17.5%) 1.20 324
    2021-11-01 $450,000 (15.6%) $555,696 (21.7%) 1.20 287
    2021-12-01 $449,000 (12.5%) $543,274 (18.1%) 1.22 245
    2022-01-01 $442,500 (10.8%) $541,457 (16.4%) 1.20 198
    2022-02-01 $449,950 (6.7%) $535,830 (4.7%) 1.17 211
    2022-03-01 $449,225 (7.6%) $523,628 (1.8%) 1.12 226
    2022-04-01 $480,000 (11.6%) $553,553 (1.2%) 1.15 264
    2022-05-01 $472,000 (4.9%) $888,874 (57.9%) 1.08 341
    2022-06-01 $468,750 (3.7%) $547,222 (-3.1%) 1.04 391
    2022-07-01 $455,000 (1.8%) $532,510 (-3.3%) 1.03 482
    2022-08-01 $457,450 (5.5%) $529,080 (3.7%) 1.06 523
    2022-09-01 $450,000 (2.9%) $517,905 (3.1%) 1.05 509
    2022-10-01 $444,700 (-1.0%) $515,769 (-4.7%) 1.05 509
    Chico's median listing price for 2022-10-01 was $444,700, a difference of $-4,300 (-1.0%) versus the prior year and $-5,300 versus the prior month.

    Chico's median listing price comes in at 105% of the national average.

    Chico's average listing price for 2022-10-01 was $515,769, a difference of $-25,660 (-4.7%) versus the prior year and $-2,136 versus the prior month.

    For the 2022-10-01 period, Chico had 509 MLS listings, a difference of 0 listings (0%) versus the prior month and 185 listings (57%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Chico (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 59 days 1,621 sqft
    2018-02-01 41 days 1,610 sqft
    2018-03-01 33 days 1,694 sqft
    2018-04-01 39 days 1,667 sqft
    2018-05-01 35 days 1,709 sqft
    2018-06-01 37 days 1,687 sqft
    2018-07-01 40 days 1,673 sqft
    2018-08-01 46 days 1,639 sqft
    2018-09-01 50 days 1,615 sqft
    2018-10-01 54 days 1,615 sqft
    2018-11-01 56 days 1,629 sqft
    2018-12-01 25 days 1,615 sqft
    2019-01-01 30 days 1,593 sqft
    2019-02-01 32 days 1,556 sqft
    2019-03-01 40 days 1,584 sqft
    2019-04-01 43 days 1,623 sqft
    2019-05-01 37 days 1,639 sqft
    2019-06-01 39 days 1,684 sqft
    2019-07-01 46 days 1,699 sqft
    2019-08-01 50 days 1,684 sqft
    2019-09-01 55 days 1,684 sqft
    2019-10-01 59 days 1,688 sqft
    2019-11-01 65 days 1,714 sqft
    2019-12-01 77 days 1,715 sqft
    2020-01-01 78 days 1,710 sqft
    2020-02-01 80 days 1,712 sqft
    2020-03-01 62 days 1,755 sqft
    2020-04-01 64 days 1,833 sqft
    2020-05-01 66 days 1,855 sqft
    2020-06-01 58 days 1,865 sqft
    2020-07-01 64 days 1,857 sqft
    2020-08-01 58 days 1,830 sqft
    2020-09-01 57 days 1,756 sqft
    2020-10-01 56 days 1,748 sqft
    2020-11-01 53 days 1,750 sqft
    2020-12-01 76 days 1,754 sqft
    2021-01-01 84 days 1,743 sqft
    2021-02-01 70 days 1,728 sqft
    2021-03-01 54 days 1,709 sqft
    2021-04-01 48 days 1,729 sqft
    2021-05-01 38 days 1,791 sqft
    2021-06-01 42 days 1,755 sqft
    2021-07-01 40 days 1,729 sqft
    2021-08-01 46 days 1,702 sqft
    2021-09-01 52 days 1,713 sqft
    2021-10-01 45 days 1,731 sqft
    2021-11-01 51 days 1,729 sqft
    2021-12-01 54 days 1,698 sqft
    2022-01-01 57 days 1,628 sqft
    2022-02-01 36 days 1,655 sqft
    2022-03-01 35 days 1,646 sqft
    2022-04-01 33 days 1,722 sqft
    2022-05-01 36 days 1,732 sqft
    2022-06-01 37 days 1,714 sqft
    2022-07-01 39 days 1,693 sqft
    2022-08-01 47 days 1,711 sqft
    2022-09-01 59 days 1,690 sqft
    2022-10-01 66 days 1,680 sqft
    Chico's median listing age (time on market) for 2022-10-01 was 66 days. This is 47% longer than the same period one year ago.

    Chico's median square footage for active listings during the 2022-10-01 period was 1,680 sqft. One year prior, the average listing was 1,731 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.