Chico VA Loans
CHICO, CA
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 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
5.42%
for the week of 2022-05-13, compared to the national average (all VA variants) of
5.158% for the same period.
The average rate for the prior week (2022-05-06) was
5.75% and
one month ago for the week of 2022-04-08, the
average rate was 5.17%.
The average rate one year ago was 3.29%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.32%.
Chico VA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Chico level.
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 & INVESTMENT LLC ($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 & INVESTMENT LLC (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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $287,450 (-0.1%) | $383,568 (10.4%) | 1.06 | 422 |
2018-02-01 | $293,475 (2.0%) | $384,058 (8.2%) | 1.06 | 430 |
2018-03-01 | $329,500 (14.5%) | $417,704 (18.2%) | 1.14 | 484 |
2018-04-01 | $329,745 (13.7%) | $397,540 (7.0%) | 1.11 | 544 |
2018-05-01 | $334,050 (13.3%) | $398,812 (3.9%) | 1.11 | 610 |
2018-06-01 | $325,000 (9.4%) | $388,879 (3.5%) | 1.08 | 649 |
2018-07-01 | $325,500 (12.6%) | $391,584 (6.2%) | 1.09 | 708 |
2018-08-01 | $318,000 (10.5%) | $379,153 (3.4%) | 1.06 | 737 |
2018-09-01 | $319,000 (10.8%) | $370,469 (-0.6%) | 1.07 | 754 |
2018-10-01 | $315,250 (9.0%) | $371,183 (-0.7%) | 1.05 | 757 |
2018-11-01 | $308,000 (7.0%) | $373,836 (0.7%) | 1.03 | 595 |
2018-12-01 | $339,000 (17.8%) | $397,489 (5.1%) | 1.16 | 359 |
2019-01-01 | $344,750 (19.9%) | $397,797 (3.7%) | 1.19 | 407 |
2019-02-01 | $339,250 (15.6%) | $387,118 (0.8%) | 1.14 | 428 |
2019-03-01 | $352,285 (6.9%) | $399,857 (-4.3%) | 1.15 | 405 |
2019-04-01 | $367,785 (11.5%) | $415,114 (4.4%) | 1.16 | 412 |
2019-05-01 | $374,500 (12.1%) | $423,046 (6.1%) | 1.15 | 517 |
2019-06-01 | $369,500 (13.7%) | $423,574 (8.9%) | 1.14 | 588 |
2019-07-01 | $358,500 (10.1%) | $439,448 (12.2%) | 1.11 | 632 |
2019-08-01 | $354,291 (11.4%) | $456,437 (20.4%) | 1.12 | 648 |
2019-09-01 | $350,536 (9.9%) | $456,307 (23.2%) | 1.11 | 630 |
2019-10-01 | $349,950 (11.0%) | $455,627 (22.8%) | 1.12 | 617 |
2019-11-01 | $349,000 (13.3%) | $423,875 (13.4%) | 1.13 | 559 |
2019-12-01 | $348,883 (2.9%) | $432,039 (8.7%) | 1.16 | 495 |
2020-01-01 | $365,000 (5.9%) | $443,602 (11.5%) | 1.22 | 418 |
2020-02-01 | $383,000 (12.9%) | $451,890 (16.7%) | 1.24 | 374 |
2020-03-01 | $394,500 (12.0%) | $472,819 (18.3%) | 1.23 | 372 |
2020-04-01 | $409,750 (11.4%) | $481,267 (15.9%) | 1.28 | 371 |
2020-05-01 | $425,000 (13.5%) | $490,548 (16.0%) | 1.29 | 377 |
2020-06-01 | $434,000 (17.5%) | $493,871 (16.6%) | 1.27 | 359 |
2020-07-01 | $424,650 (18.5%) | $503,184 (14.5%) | 1.22 | 317 |
2020-08-01 | $421,500 (19.0%) | $501,042 (9.8%) | 1.20 | 316 |
2020-09-01 | $421,000 (20.1%) | $506,818 (11.1%) | 1.20 | 297 |
2020-10-01 | $408,460 (16.7%) | $496,815 (9.0%) | 1.17 | 323 |
2020-11-01 | $398,500 (14.2%) | $477,045 (12.5%) | 1.14 | 335 |
2020-12-01 | $399,999 (14.7%) | $485,709 (12.4%) | 1.17 | 273 |
2021-01-01 | $419,900 (15.0%) | $495,920 (11.8%) | 1.24 | 255 |
2021-02-01 | $439,000 (14.6%) | $571,523 (26.5%) | 1.26 | 245 |
2021-03-01 | $432,250 (9.6%) | $576,586 (22.0%) | 1.21 | 243 |
2021-04-01 | $447,450 (9.2%) | $588,869 (22.4%) | 1.20 | 236 |
2021-05-01 | $458,000 (7.8%) | $583,968 (19.0%) | 1.21 | 246 |
2021-06-01 | $452,000 (4.2%) | $578,436 (17.1%) | 1.17 | 262 |
2021-07-01 | $439,000 (3.4%) | $556,376 (10.6%) | 1.14 | 292 |
2021-08-01 | $425,000 (0.8%) | $506,350 (1.1%) | 1.12 | 325 |
2021-09-01 | $435,450 (3.4%) | $500,840 (-1.2%) | 1.15 | 329 |
2021-10-01 | $449,900 (10.2%) | $540,121 (8.7%) | 1.18 | 341 |
2021-11-01 | $450,000 (12.9%) | $557,715 (16.9%) | 1.19 | 302 |
2021-12-01 | $449,500 (12.4%) | $546,247 (12.5%) | 1.20 | 260 |
2022-01-01 | $449,000 (6.9%) | $553,724 (11.7%) | 1.20 | 203 |
2022-02-01 | $453,000 (3.2%) | $548,817 (-4.0%) | 1.15 | 221 |
2022-03-01 | $454,450 (5.1%) | $540,133 (-6.3%) | 1.12 | 238 |
2022-04-01 | $490,000 (9.5%) | $568,491 (-3.5%) | 1.15 | 282 |
Chico's median listing price comes in at 115% of the national average.
Chico's average listing price for 2022-04-01 was $568,491, a difference of $-20,378 (-3.5%) versus the prior year and $28,358 versus the prior month.
For the 2022-04-01 period, Chico had 282 MLS listings, a difference of 44 listings (18%) versus the prior month and 46 listings (19%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Chico (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 57 days | 1,618 sqft |
2018-02-01 | 37 days | 1,604 sqft |
2018-03-01 | 31 days | 1,697 sqft |
2018-04-01 | 38 days | 1,684 sqft |
2018-05-01 | 34 days | 1,712 sqft |
2018-06-01 | 37 days | 1,705 sqft |
2018-07-01 | 41 days | 1,700 sqft |
2018-08-01 | 46 days | 1,657 sqft |
2018-09-01 | 50 days | 1,636 sqft |
2018-10-01 | 53 days | 1,634 sqft |
2018-11-01 | 56 days | 1,648 sqft |
2018-12-01 | 26 days | 1,616 sqft |
2019-01-01 | 30 days | 1,612 sqft |
2019-02-01 | 32 days | 1,584 sqft |
2019-03-01 | 44 days | 1,586 sqft |
2019-04-01 | 44 days | 1,612 sqft |
2019-05-01 | 36 days | 1,642 sqft |
2019-06-01 | 37 days | 1,678 sqft |
2019-07-01 | 46 days | 1,693 sqft |
2019-08-01 | 48 days | 1,674 sqft |
2019-09-01 | 53 days | 1,680 sqft |
2019-10-01 | 53 days | 1,691 sqft |
2019-11-01 | 60 days | 1,720 sqft |
2019-12-01 | 71 days | 1,722 sqft |
2020-01-01 | 73 days | 1,718 sqft |
2020-02-01 | 61 days | 1,728 sqft |
2020-03-01 | 45 days | 1,796 sqft |
2020-04-01 | 51 days | 1,846 sqft |
2020-05-01 | 59 days | 1,863 sqft |
2020-06-01 | 46 days | 1,903 sqft |
2020-07-01 | 52 days | 1,878 sqft |
2020-08-01 | 44 days | 1,853 sqft |
2020-09-01 | 45 days | 1,830 sqft |
2020-10-01 | 44 days | 1,825 sqft |
2020-11-01 | 46 days | 1,770 sqft |
2020-12-01 | 62 days | 1,809 sqft |
2021-01-01 | 72 days | 1,803 sqft |
2021-02-01 | 42 days | 1,815 sqft |
2021-03-01 | 42 days | 1,777 sqft |
2021-04-01 | 37 days | 1,753 sqft |
2021-05-01 | 35 days | 1,817 sqft |
2021-06-01 | 35 days | 1,768 sqft |
2021-07-01 | 37 days | 1,726 sqft |
2021-08-01 | 42 days | 1,683 sqft |
2021-09-01 | 49 days | 1,700 sqft |
2021-10-01 | 44 days | 1,728 sqft |
2021-11-01 | 49 days | 1,728 sqft |
2021-12-01 | 57 days | 1,685 sqft |
2022-01-01 | 57 days | 1,638 sqft |
2022-02-01 | 35 days | 1,655 sqft |
2022-03-01 | 36 days | 1,679 sqft |
2022-04-01 | 32 days | 1,740 sqft |
Chico's median square footage for active listings during the 2022-04-01 period was 1,740 sqft. One year prior, the average listing was 1,753 sqft.