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%.

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.