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 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.