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 48 lenders originated 233 VA loans during 2022. The total origination value was $88,495,000, with an average VA loan value of $379,807.

    Chico VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Chico averaged 6.4% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Chico's average VA mortgage closing costs are $6,302.

    The average rate for the prior week (2023-05-19) was 6.22% and one month ago for the week of 2023-04-21, the average rate was 6.04%.

    The average rate one year ago was 4.72%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.31%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 27 5.02% $8,199
    UNITED WHOLESALE MORTGAGE, LLC 23 4.21% $9,803
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 19 4.54% $10,998
    CALIBER HOME LOANS, INC. 13 4.28% $12,279
    QUICKEN LOANS, LLC 12 3.71% $8,884
    PENNYMAC LOAN SERVICES, LLC 10 2.91% $10,914
    LOANDEPOT.COM, LLC 9 4.25% $12,294
    NAVY FEDERAL CREDIT UNION 8 4.19% $8,327
    Commerce Home Mortgage, Inc. 8 4.58% $9,530
    SUMMIT FUNDING, INC. 7 3.75% $7,220
    FREEDOM MORTGAGE CORPORATION 6 4.38% $10,492
    The Federal Savings Bank 5 3.73% $13,180
    Paramount Residential Mortgage Group, Inc. 5 5.00% $7,116
    USAA Federal Savings Bank 4 2.94% $13,899
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 4.50% $7,967
    GUILD MORTGAGE COMPANY 3 3.50% $10,679
    PENTAGON FEDERAL CREDIT UNION 3 4.46% $20,977
    NEW DAY FINANCIAL, LLC 3 5.41% $9,771
    HOME POINT FINANCIAL CORPORATION 3 4.58% $7,368
    MOVEMENT MORTGAGE, LLC 3 4.75% $3,978
    Wells Fargo Bank 2 4.31% $11,126
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 5.25% $23,971
    MASON MCDUFFIE MORTGAGE CORPORATION 2 4.50% $15,015
    BROKER SOLUTIONS, INC. 2 5.31% $11,819
    ACADEMY MORTGAGE CORPORATION 2 5.56% $8,362
    Mr. Cooper ( Nationstar Mortgage ) 2 3.63% $3,011
    PREMIER MORTGAGE RESOURCES, L.L.C. 2 4.62% $11,827
    FINANCE OF AMERICA MORTGAGE LLC 2 5.00% $5,434
    CORNERSTONE HOME LENDING, INC. 2 5.50% $11,443
    NEWREZ LLC 1 3.50% $4,528
    AXIA FINANCIAL, LLC 1 3.88% $7,144
    CARDINAL FINANCIAL 1 4.75% $16,721
    CLEARPATH LENDING 1 2.50% $16,322
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 3.50% $5,590
    First Option Mortgage, LLC 1 4.88% $3,354
    Flagstar Bank, FSB 1 4.75% $7,412
    Hometown Lenders, Inc. 1 3.25% $8,720
    LAKEVIEW LOAN SERVICING, LLC 1 4.75% $8,070
    LOANPAL, LLC 1 2.63% $17,193
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $27,863
    Nations Lending Corporation 1 6.13% $12,409
    North American Savings Bank, F.S.B. 1 4.63% $4,966
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 5.13% $15,394
    Sierra Pacific Mortgage Company, Inc. 1 2.88% $10,253
    U.S. Bank 1 3.38% $15,232
    Valley First Credit Union 1 6.13% $4,586
    VERITAS FUNDING, LLC 1 5.63% $18,150
    VILLAGE CAPITAL MORTGAGE 1 5.50% $6,307

    The top Chico VA lender as defined by loan originations is Mortgage Research Center, LLC, with 27 VA loans originated. Their average total fees are $8,199, which is $1,604 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Chico VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($8,199), QUICKEN LOANS, LLC ($8,884), UNITED WHOLESALE MORTGAGE, LLC ($9,803), PENNYMAC LOAN SERVICES, LLC ($10,914) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($10,998).

    The lowest rate Chico VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.91%), QUICKEN LOANS, LLC (3.71%), UNITED WHOLESALE MORTGAGE, LLC (4.21%), CALIBER HOME LOANS, INC. (4.28%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (4.54%).

    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%) 1.16 396
    2019-02-01 $332,500 (13.2%) $383,801 (0.8%) 1.12 413
    2019-03-01 $344,000 (4.6%) $397,726 (-2.9%) 1.15 382
    2019-04-01 $364,000 (12.0%) $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 $355,000 (12.2%) $431,978 (14.6%) 1.11 622
    2019-09-01 $352,500 (11.7%) $422,774 (15.3%) 1.11 557
    2019-10-01 $350,000 (12.0%) $420,825 (14.6%) 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 (13.1%) $454,168 (14.2%) 1.22 346
    2020-04-01 $399,000 (9.6%) $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 (17.5%) $480,119 (11.1%) 1.19 307
    2020-09-01 $399,750 (13.4%) $473,628 (12.0%) 1.15 288
    2020-10-01 $398,000 (13.7%) $460,962 (9.5%) 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%) $564,564 (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%) 1.14 264
    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
    2022-11-01 $434,950 (-3.3%) $510,628 (-8.1%) 1.04 480
    2022-12-01 $435,000 (-3.1%) $513,784 (-5.4%) 1.07 446
    2023-01-01 $422,481 (-4.5%) $506,691 (-6.4%) 1.05 382
    2023-02-01 $427,113 (-5.1%) $519,039 (-3.1%) 1.03 342
    2023-03-01 $431,175 (-4.0%) $518,304 (-1.0%) 1.02 318
    2023-04-01 $436,500 (-9.1%) $521,999 (-5.7%) 1.02 302
    Chico's median listing price for 2023-04-01 was $436,500, a difference of $-43,500 (-9.1%) versus the prior year and $5,325 versus the prior month.

    Chico's median listing price comes in at 102% of the national average.

    Chico's average listing price for 2023-04-01 was $521,999, a difference of $-31,554 (-5.7%) versus the prior year and $3,695 versus the prior month.

    For the 2023-04-01 period, Chico had 302 MLS listings, a difference of -16 listings (-5%) versus the prior month and 38 listings (14%) 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 45 days 1,571 sqft
    2019-04-01 44 days 1,613 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 54 days 1,724 sqft
    2019-09-01 64 days 1,710 sqft
    2019-10-01 60 days 1,694 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 1,626 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
    2022-11-01 65 days 1,709 sqft
    2022-12-01 75 days 1,712 sqft
    2023-01-01 86 days 1,705 sqft
    2023-02-01 82 days 1,709 sqft
    2023-03-01 78 days 1,676 sqft
    2023-04-01 61 days 1,674 sqft
    Chico's median listing age (time on market) for 2023-04-01 was 61 days. This is 85% longer than the same period one year ago.

    Chico's median square footage for active listings during the 2023-04-01 period was 1,674 sqft. One year prior, the average listing was 1,722 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.