Chico VA Loan Rates, Closing Costs & Stats

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 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 6.21% for the week of 2024-03-01, compared to the national average (all VA variants) of 6.517% for the same period.

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

The average rate for the prior week (2024-02-23) was 6.54% and one month ago for the week of 2024-01-26, the average rate was 6.26%.

The average rate one year ago was 6.1%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.32%.

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%) $394,542 (4.6%) 1.10 588
2018-06-01 $319,000 (9.6%) $383,183 (4.3%) 1.06 628
2018-07-01 $323,475 (12.4%) $387,403 (7.5%) 1.08 679
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%) $391,621 (2.7%) 1.16 395
2019-02-01 $333,125 (13.4%) $384,086 (0.9%) 1.13 412
2019-03-01 $346,714 (5.4%) $397,138 (-3.1%) 1.13 388
2019-04-01 $366,214 (12.7%) $416,363 (6.6%) 1.16 400
2019-05-01 $370,000 (12.3%) $427,475 (8.4%) 1.16 498
2019-06-01 $369,000 (15.7%) $424,173 (10.7%) 1.15 554
2019-07-01 $358,255 (10.8%) $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 (13.8%) 1.21 389
2020-02-01 $379,500 (13.9%) $440,942 (14.8%) 1.24 351
2020-03-01 $389,000 (12.2%) $454,168 (14.4%) 1.22 346
2020-04-01 $399,000 (9.0%) $466,651 (12.1%) 1.25 347
2020-05-01 $418,000 (13.0%) $474,953 (11.1%) 1.27 364
2020-06-01 $424,000 (14.9%) $475,467 (12.1%) 1.25 345
2020-07-01 $402,500 (12.4%) $479,779 (13.7%) 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 $389,000 (11.3%) $456,687 (7.9%) 1.14 321
2020-12-01 $399,000 (13.4%) $459,476 (6.4%) 1.19 266
2021-01-01 $399,500 (10.2%) $464,709 (4.3%) 1.19 244
2021-02-01 $421,875 (11.2%) $511,847 (16.1%) 1.23 234
2021-03-01 $417,500 (7.3%) $514,203 (13.2%) 1.18 233
2021-04-01 $430,250 (7.8%) $547,253 (17.3%) 1.16 224
2021-05-01 $450,000 (7.7%) $562,905 (18.5%) 1.20 236
2021-06-01 $452,250 (6.7%) $564,564 (18.7%) 1.19 252
2021-07-01 $447,000 (11.1%) $550,888 (14.8%) 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 (15.7%) $555,696 (21.7%) 1.20 287
2021-12-01 $449,000 (12.5%) $543,326 (18.3%) 1.22 245
2022-01-01 $442,500 (10.8%) $541,457 (16.5%) 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%) $553,498 (1.1%) 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 $444,900 (-0.9%) $515,680 (-4.8%) 1.05 509
2022-11-01 $434,950 (-3.3%) $510,628 (-8.1%) 1.05 480
2022-12-01 $435,000 (-3.1%) $513,784 (-5.4%) 1.07 446
2023-01-01 $423,000 (-4.4%) $506,806 (-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 $438,500 (-8.7%) $521,388 (-5.8%) 1.02 302
2023-05-01 $429,975 (-8.9%) $519,607 (-41.5%) 0.98 339
2023-06-01 $429,113 (-8.5%) $516,580 (-5.6%) 0.96 359
2023-07-01 $429,925 (-5.5%) $514,767 (-3.3%) 0.98 366
2023-08-01 $433,625 (-5.2%) $521,724 (-1.4%) 1.00 374
2023-09-01 $425,000 (-5.6%) $510,437 (-1.4%) 0.99 406
2023-10-01 $426,975 (-4.0%) $506,339 (-1.8%) 1.00 426
2023-11-01 $439,500 (1.1%) $557,197 (9.1%) 1.05 420
2023-12-01 $431,750 (-0.8%) $541,538 (5.4%) 1.05 360
2024-01-01 $424,950 (0.5%) $525,493 (3.7%) 1.04 328
Chico's median listing price for 2024-01-01 was $424,950, a difference of $1,950 (0.5%) versus the prior year and $-6,800 versus the prior month.

Chico's median listing price comes in at 104% of the national average.

Chico's average listing price for 2024-01-01 was $525,493, a difference of $18,687 (3.7%) versus the prior year and $-16,045 versus the prior month.

For the 2024-01-01 period, Chico had 328 MLS listings, a difference of -32 listings (-9%) versus the prior month and -54 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 55 days 1,621 sqft
2018-02-01 38 days 1,610 sqft
2018-03-01 31 days 1,694 sqft
2018-04-01 39 days 1,667 sqft
2018-05-01 34 days 1,708 sqft
2018-06-01 36 days 1,681 sqft
2018-07-01 39 days 1,673 sqft
2018-08-01 44 days 1,639 sqft
2018-09-01 48 days 1,615 sqft
2018-10-01 53 days 1,615 sqft
2018-11-01 55 days 1,629 sqft
2018-12-01 25 days 1,615 sqft
2019-01-01 30 days 1,594 sqft
2019-02-01 32 days 1,557 sqft
2019-03-01 40 days 1,588 sqft
2019-04-01 43 days 1,632 sqft
2019-05-01 36 days 1,640 sqft
2019-06-01 38 days 1,684 sqft
2019-07-01 45 days 1,699 sqft
2019-08-01 49 days 1,684 sqft
2019-09-01 54 days 1,684 sqft
2019-10-01 59 days 1,688 sqft
2019-11-01 65 days 1,714 sqft
2019-12-01 75 days 1,715 sqft
2020-01-01 77 days 1,710 sqft
2020-02-01 80 days 1,712 sqft
2020-03-01 60 days 1,755 sqft
2020-04-01 63 days 1,833 sqft
2020-05-01 64 days 1,855 sqft
2020-06-01 54 days 1,865 sqft
2020-07-01 62 days 1,856 sqft
2020-08-01 51 days 1,830 sqft
2020-09-01 55 days 1,756 sqft
2020-10-01 52 days 1,748 sqft
2020-11-01 49 days 1,749 sqft
2020-12-01 72 days 1,753 sqft
2021-01-01 82 days 1,736 sqft
2021-02-01 63 days 1,728 sqft
2021-03-01 54 days 1,708 sqft
2021-04-01 47 days 1,729 sqft
2021-05-01 36 days 1,791 sqft
2021-06-01 40 days 1,755 sqft
2021-07-01 40 days 1,729 sqft
2021-08-01 45 days 1,702 sqft
2021-09-01 51 days 1,713 sqft
2021-10-01 44 days 1,731 sqft
2021-11-01 51 days 1,729 sqft
2021-12-01 53 days 1,702 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 46 days 1,711 sqft
2022-09-01 58 days 1,690 sqft
2022-10-01 65 days 1,680 sqft
2022-11-01 64 days 1,709 sqft
2022-12-01 73 days 1,712 sqft
2023-01-01 82 days 1,707 sqft
2023-02-01 81 days 1,709 sqft
2023-03-01 72 days 1,676 sqft
2023-04-01 59 days 1,674 sqft
2023-05-01 43 days 1,670 sqft
2023-06-01 46 days 1,668 sqft
2023-07-01 51 days 1,653 sqft
2023-08-01 50 days 1,669 sqft
2023-09-01 51 days 1,658 sqft
2023-10-01 55 days 1,638 sqft
2023-11-01 58 days 1,674 sqft
2023-12-01 68 days 1,671 sqft
2024-01-01 78 days 1,655 sqft
Chico's median listing age (time on market) for 2024-01-01 was 78 days. This is -6% shorter than the same period one year ago.

Chico's median square footage for active listings during the 2024-01-01 period was 1,655 sqft. One year prior, the average listing was 1,707 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.