Corvallis VA Loan Rates, Closing Costs & Stats

CORVALLIS, OR

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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.

    Corvallis's 15 lenders originated 33 VA loans during 2023. The total origination value was $15,105,000, with an average VA loan value of $457,727.

    Corvallis VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Corvallis averaged 7.05% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Corvallis's average VA mortgage closing costs are $7,528.

    The average rate for the prior week (2024-04-12) was 6.78% and one month ago for the week of 2024-03-15, the average rate was 6.64%.

    The average rate one year ago was 6.03%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Corvallis 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 Corvallis level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 8 6.16% $8,416
    NAVY FEDERAL CREDIT UNION 6 5.94% $11,846
    CMG MORTGAGE, INC. 2 6.50% $7,969
    UNITED WHOLESALE MORTGAGE, LLC 2 6.56% $5,635
    USAA Federal Savings Bank 2 5.31% $15,465
    DIRECTORS MORTGAGE, INC. 2 7.19% $19,062
    CROSSCOUNTRY MORTGAGE, LLC 2 7.31% $11,607
    ACADEMY MORTGAGE CORPORATION 1 6.25% $22,497
    Willamette Valley Bank 1 6.13% $15,276
    BNC National Bank 1 5.13% $4,143
    Century Mortgage Company DBA Century Lending Company 1 6.50% $47,050
    DAS Acquisition Company, LLC 1 7.38% $825
    INTERCAP LENDING INC. 1 6.13% $10,117
    Paramount Residential Mortgage Group, Inc. 1 6.25% $4,513
    U.S. Bank 1 6.63% $4,819

    The top Corvallis VA lender as defined by loan originations is Mortgage Research Center, LLC, with 8 VA loans originated. Their average total fees are $8,416, which is $3,430 lower than the next largest lender, NAVY FEDERAL CREDIT UNION.

    The lowest fee Corvallis VA lenders (with over 10 loans originated) are .

    The lowest rate Corvallis VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Corvallis (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 $449,923 (20.0%) $544,192 (11.0%) 0.00 124
    2018-02-01 $449,675 (18.8%) $549,255 (12.2%) 0.00 116
    2018-03-01 $449,000 (16.0%) $571,834 (19.2%) 0.00 137
    2018-04-01 $468,167 (17.3%) $590,412 (22.0%) 0.00 150
    2018-05-01 $453,897 (13.8%) $592,672 (22.0%) 0.00 160
    2018-06-01 $489,000 (24.6%) $623,998 (32.2%) 0.00 167
    2018-07-01 $475,000 (9.2%) $571,624 (4.7%) 0.00 172
    2018-08-01 $449,900 (4.7%) $539,787 (-1.5%) 0.00 197
    2018-09-01 $457,250 (7.6%) $548,332 (1.6%) 0.00 189
    2018-10-01 $442,450 (1.7%) $585,874 (13.1%) 0.00 206
    2018-11-01 $437,500 (-2.8%) $590,115 (10.0%) 0.00 201
    2018-12-01 $479,900 (6.7%) $606,621 (14.9%) 0.00 171
    2019-01-01 $493,750 (9.7%) $636,854 (17.0%) 0.00 150
    2019-02-01 $489,750 (8.9%) $661,055 (20.4%) 0.00 147
    2019-03-01 $466,143 (3.8%) $640,962 (12.1%) 0.00 160
    2019-04-01 $432,475 (-7.6%) $613,336 (3.9%) 0.00 168
    2019-05-01 $449,450 (-1.0%) $601,887 (1.6%) 0.00 180
    2019-06-01 $469,000 (-4.1%) $568,783 (-8.9%) 0.00 197
    2019-07-01 $464,450 (-2.2%) $536,785 (-6.1%) 0.00 229
    2019-08-01 $463,805 (3.1%) $528,303 (-2.1%) 0.00 231
    2019-09-01 $456,011 (-0.3%) $524,875 (-4.3%) 0.00 226
    2019-10-01 $449,925 (1.7%) $522,216 (-10.9%) 0.00 218
    2019-11-01 $445,000 (1.7%) $522,360 (-11.5%) 0.00 204
    2019-12-01 $444,750 (-7.3%) $531,469 (-12.4%) 0.00 198
    2020-01-01 $437,950 (-11.3%) $534,988 (-16.0%) 0.00 176
    2020-02-01 $438,000 (-10.6%) $542,080 (-18.0%) 0.00 154
    2020-03-01 $449,875 (-3.5%) $536,583 (-16.3%) 0.00 165
    2020-04-01 $447,500 (3.5%) $525,302 (-14.4%) 0.00 180
    2020-05-01 $438,200 (-2.5%) $513,100 (-14.8%) 0.00 176
    2020-06-01 $438,875 (-6.4%) $515,067 (-9.4%) 0.00 168
    2020-07-01 $447,875 (-3.6%) $526,101 (-2.0%) 0.00 152
    2020-08-01 $458,950 (-1.1%) $528,478 (0.0%) 0.00 127
    2020-09-01 $480,725 (5.4%) $569,333 (8.5%) 0.00 112
    2020-10-01 $470,000 (4.5%) $566,751 (8.5%) 0.00 104
    2020-11-01 $448,000 (0.7%) $534,417 (2.3%) 0.00 106
    2020-12-01 $446,750 (0.5%) $531,749 (0.1%) 0.00 96
    2021-01-01 $444,500 (1.5%) $518,812 (-3.0%) 0.00 92
    2021-02-01 $445,000 (1.6%) $533,430 (-1.6%) 0.00 87
    2021-03-01 $445,000 (-1.1%) $542,957 (1.2%) 0.00 84
    2021-04-01 $445,050 (-0.6%) $554,053 (5.5%) 0.00 76
    2021-05-01 $484,950 (10.7%) $613,940 (19.7%) 0.00 76
    2021-06-01 $543,750 (23.9%) $642,871 (24.8%) 0.00 89
    2021-07-01 $510,492 (14.0%) $613,617 (16.6%) 0.00 109
    2021-08-01 $493,725 (7.6%) $574,290 (8.7%) 0.00 98
    2021-09-01 $503,175 (4.7%) $587,432 (3.2%) 0.00 100
    2021-10-01 $523,650 (11.4%) $655,251 (15.6%) 0.00 107
    2021-11-01 $537,205 (19.9%) $720,150 (34.8%) 0.00 90
    2021-12-01 $514,748 (15.2%) $723,461 (36.1%) 0.00 75
    2022-01-01 $525,000 (18.1%) $744,242 (43.5%) 0.00 64
    2022-02-01 $533,875 (20.0%) $770,534 (44.5%) 0.00 56
    2022-03-01 $510,619 (14.8%) $747,532 (37.7%) 0.00 53
    2022-04-01 $511,312 (14.9%) $659,866 (19.1%) 0.00 56
    2022-05-01 $577,250 (19.0%) $656,786 (7.0%) 0.00 74
    2022-06-01 $578,305 (6.4%) $686,171 (6.7%) 0.00 95
    2022-07-01 $564,000 (10.5%) $627,544 (2.3%) 0.00 106
    2022-08-01 $573,125 (16.1%) $639,984 (11.4%) 0.00 109
    2022-09-01 $579,950 (15.3%) $680,237 (15.8%) 0.00 106
    2022-10-01 $576,766 (10.1%) $711,739 (8.6%) 0.00 101
    2022-11-01 $581,963 (8.3%) $720,621 (0.1%) 0.00 95
    2022-12-01 $588,500 (14.3%) $717,314 (-0.9%) 0.00 91
    2023-01-01 $575,749 (9.7%) $698,686 (-6.1%) 0.00 82
    2023-02-01 $565,001 (5.8%) $667,341 (-13.4%) 0.00 88
    2023-03-01 $581,725 (13.9%) $708,011 (-5.3%) 0.00 81
    2023-04-01 $578,475 (13.1%) $699,986 (6.1%) 0.00 74
    2023-05-01 $589,095 (2.1%) $711,266 (8.3%) 0.00 79
    2023-06-01 $595,345 (3.0%) $705,660 (2.8%) 0.00 93
    2023-07-01 $589,950 (4.6%) $709,656 (13.1%) 0.00 107
    2023-08-01 $599,675 (4.6%) $703,622 (9.9%) 0.00 115
    2023-09-01 $594,000 (2.4%) $695,846 (2.3%) 0.00 116
    2023-10-01 $592,000 (2.6%) $665,715 (-6.5%) 0.00 115
    2023-11-01 $595,750 (2.4%) $690,811 (-4.1%) 0.00 116
    2023-12-01 $599,900 (1.9%) $681,293 (-5.0%) 0.00 113
    2024-01-01 $602,739 (4.7%) $687,478 (-1.6%) 0.00 106
    2024-02-01 $591,728 (4.7%) $691,703 (3.7%) 0.00 90
    2024-03-01 $593,210 (2.0%) $699,522 (-1.2%) 0.00 81
    Corvallis's median listing price for 2024-03-01 was $593,210, a difference of $11,485 (2.0%) versus the prior year and $1,482 versus the prior month.

    Corvallis's median listing price comes in at 0% of the national average.

    Corvallis's average listing price for 2024-03-01 was $699,522, a difference of $-8,489 (-1.2%) versus the prior year and $7,819 versus the prior month.

    For the 2024-03-01 period, Corvallis had 81 MLS listings, a difference of -9 listings (-10%) versus the prior month and 0 listings (0%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Corvallis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,259 sqft
    2018-02-01 0 days 2,317 sqft
    2018-03-01 0 days 2,116 sqft
    2018-04-01 0 days 2,324 sqft
    2018-05-01 0 days 2,239 sqft
    2018-06-01 0 days 2,327 sqft
    2018-07-01 0 days 2,327 sqft
    2018-08-01 0 days 2,208 sqft
    2018-09-01 0 days 2,309 sqft
    2018-10-01 0 days 2,201 sqft
    2018-11-01 0 days 2,114 sqft
    2018-12-01 0 days 2,290 sqft
    2019-01-01 0 days 2,334 sqft
    2019-02-01 0 days 2,320 sqft
    2019-03-01 0 days 2,226 sqft
    2019-04-01 0 days 2,106 sqft
    2019-05-01 0 days 2,079 sqft
    2019-06-01 0 days 2,120 sqft
    2019-07-01 0 days 2,150 sqft
    2019-08-01 0 days 2,177 sqft
    2019-09-01 0 days 2,215 sqft
    2019-10-01 0 days 2,268 sqft
    2019-11-01 0 days 2,255 sqft
    2019-12-01 0 days 2,196 sqft
    2020-01-01 0 days 2,145 sqft
    2020-02-01 0 days 2,284 sqft
    2020-03-01 0 days 2,338 sqft
    2020-04-01 0 days 2,296 sqft
    2020-05-01 0 days 2,201 sqft
    2020-06-01 0 days 2,188 sqft
    2020-07-01 0 days 2,101 sqft
    2020-08-01 0 days 2,092 sqft
    2020-09-01 0 days 2,070 sqft
    2020-10-01 0 days 2,046 sqft
    2020-11-01 0 days 2,052 sqft
    2020-12-01 0 days 2,060 sqft
    2021-01-01 0 days 1,940 sqft
    2021-02-01 0 days 1,858 sqft
    2021-03-01 0 days 1,896 sqft
    2021-04-01 0 days 1,868 sqft
    2021-05-01 0 days 2,052 sqft
    2021-06-01 0 days 2,192 sqft
    2021-07-01 0 days 2,054 sqft
    2021-08-01 0 days 1,822 sqft
    2021-09-01 0 days 1,892 sqft
    2021-10-01 0 days 1,963 sqft
    2021-11-01 0 days 2,237 sqft
    2021-12-01 0 days 2,088 sqft
    2022-01-01 0 days 1,971 sqft
    2022-02-01 0 days 2,117 sqft
    2022-03-01 0 days 1,890 sqft
    2022-04-01 0 days 1,872 sqft
    2022-05-01 0 days 2,028 sqft
    2022-06-01 0 days 1,962 sqft
    2022-07-01 0 days 1,850 sqft
    2022-08-01 0 days 1,906 sqft
    2022-09-01 0 days 2,098 sqft
    2022-10-01 0 days 2,061 sqft
    2022-11-01 0 days 2,053 sqft
    2022-12-01 0 days 2,100 sqft
    2023-01-01 0 days 1,971 sqft
    2023-02-01 0 days 1,797 sqft
    2023-03-01 0 days 2,014 sqft
    2023-04-01 0 days 1,898 sqft
    2023-05-01 0 days 2,104 sqft
    2023-06-01 0 days 2,119 sqft
    2023-07-01 0 days 2,031 sqft
    2023-08-01 0 days 2,042 sqft
    2023-09-01 0 days 2,040 sqft
    2023-10-01 0 days 2,118 sqft
    2023-11-01 0 days 2,071 sqft
    2023-12-01 0 days 2,071 sqft
    2024-01-01 0 days 2,070 sqft
    2024-02-01 0 days 2,067 sqft
    2024-03-01 0 days 2,065 sqft
    Corvallis's median listing age (time on market) for 2024-03-01 was 0 days.

    Corvallis's median square footage for active listings during the 2024-03-01 period was 2,065 sqft. One year prior, the average listing was 2,014 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.