Chico VA Loans

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 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%.

    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 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. Total Fees
    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 & INVESTMENT LLC 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 & 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. 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%) $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 for 2022-04-01 was $490,000, a difference of $42,550 (9.5%) versus the prior year and $35,550 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2022-04-01 was 32 days. This is -14% shorter than the same period one year ago.

    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.

    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.