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 36 lenders originated 148 VA loans during 2023. The total origination value was $57,970,000, with an average VA loan value of $391,689.

    Chico VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Chico averaged 6.24% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Chico's average VA mortgage closing costs are $6,526.

    The average rate for the prior week (2024-07-12) was 6.58% and one month ago for the week of 2024-06-14, the average rate was 6.74%.

    The average rate one year ago was 6.92%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.44%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 22 6.21% $6,345
    Mortgage Research Center, LLC 15 6.67% $6,122
    QUICKEN LOANS, LLC 11 6.31% $8,563
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.50% $13,727
    GUILD MORTGAGE COMPANY 8 6.38% $10,101
    MASON MCDUFFIE MORTGAGE CORPORATION 8 6.31% $14,570
    CALIBER HOME LOANS, INC. 5 6.13% $12,018
    PENNYMAC LOAN SERVICES, LLC 4 5.78% $11,654
    Century Mortgage Company DBA Century Lending Company 4 6.75% $7,393
    USAA Federal Savings Bank 4 6.38% $7,482
    Paramount Residential Mortgage Group, Inc. 4 6.22% $24,991
    NEW DAY FINANCIAL, LLC 3 6.79% $10,711
    NEWREZ LLC 3 6.71% $16,572
    Plains Commerce Bank 3 5.96% $11,920
    LOANDEPOT.COM, LLC 3 6.16% $10,703
    PREMIER MORTGAGE RESOURCES, L.L.C. 3 6.25% $10,837
    NAVY FEDERAL CREDIT UNION 3 5.83% $3,967
    Sierra Pacific Mortgage Company, Inc. 2 4.94% $12,629
    VILLAGE CAPITAL MORTGAGE 2 6.32% $8,434
    Mid-Continent Funding, Inc. 2 6.00% $13,331
    DHI MORTGAGE COMPANY, LTD. 2 5.49% $3,795
    Flagstar Bank, FSB 2 5.88% $9,431
    Wells Fargo Bank 1 4.75% $18,681
    BROKER SOLUTIONS, INC. 1 6.25% $5,283
    CARDINAL FINANCIAL 1 6.38% $14,860
    FREEDOM MORTGAGE CORPORATION 1 5.50% $16,653
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.00% $2,925
    MOVEMENT MORTGAGE, LLC 1 7.25% $10,901
    NFM, INC. 1 7.63% $12,109
    PENTAGON FEDERAL CREDIT UNION 1 6.38% $10,339
    PLAZA HOME MORTGAGE, INC. 1 5.63% $33,329
    S1L, Inc. 1 6.25% $21,458
    SOUTHWEST STAGE FUNDING, LLC 1 7.88% $2,573
    The Federal Savings Bank 1 8.25% $19,522
    TRAVIS CREDIT UNION 1 7.13% $4,205
    Barrington Bank & Trust Company, N.A. 1 6.75% $7,387

    The top Chico VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 22 VA loans originated. Their average total fees are $6,345, which is $224 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Chico VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,122), UNITED WHOLESALE MORTGAGE, LLC ($6,345), QUICKEN LOANS, LLC ($8,563), .

    The lowest rate Chico VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.21%), QUICKEN LOANS, LLC (6.31%), Mortgage Research Center, LLC (6.67%), .

    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.