Corvallis VA Loan Rates, Closing Costs & Stats

CORVALLIS, OR

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 6.46% for the week of 2024-07-12, compared to the national average (all VA variants) of 6.364% for the same period.

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

The average rate for the prior week (2024-07-05) was 6.57% and one month ago for the week of 2024-06-07, the average rate was 6.58%.

The average rate one year ago was 6.86%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.56%.

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
2024-04-01 $637,950 (10.3%) $708,773 (1.3%) 0.00 102
2024-05-01 $648,950 (10.2%) $724,830 (1.9%) 0.00 129
2024-06-01 $650,000 (9.2%) $778,543 (10.3%) 0.00 164
Corvallis's median listing price for 2024-06-01 was $650,000, a difference of $54,655 (9.2%) versus the prior year and $1,050 versus the prior month.

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

Corvallis's average listing price for 2024-06-01 was $778,543, a difference of $72,883 (10.3%) versus the prior year and $53,713 versus the prior month.

For the 2024-06-01 period, Corvallis had 164 MLS listings, a difference of 35 listings (27%) versus the prior month and 71 listings (76%) 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
2024-04-01 0 days 2,092 sqft
2024-05-01 0 days 2,126 sqft
2024-06-01 0 days 2,159 sqft
Corvallis's median listing age (time on market) for 2024-06-01 was 0 days.

Corvallis's median square footage for active listings during the 2024-06-01 period was 2,159 sqft. One year prior, the average listing was 2,119 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.