El Centro VA Loan Rates, Closing Costs & Stats

EL CENTRO, 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.

    El Centro's 28 lenders originated 108 VA loans during 2023. The total origination value was $40,870,000, with an average VA loan value of $378,426.

    El Centro VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in El Centro averaged 6.66% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    El Centro's average VA mortgage closing costs are $5,719.

    The average rate for the prior week (2024-04-12) was 6.49% and one month ago for the week of 2024-03-15, the average rate was 6.65%.

    The average rate one year ago was 5.94%.

    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.

    El Centro 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 El Centro level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 24 6.28% $6,539
    Wallick & Volk, Inc. 10 6.50% $10,080
    QUICKEN LOANS, LLC 8 6.17% $9,609
    Mortgage Research Center, LLC 7 6.46% $5,939
    GUILD MORTGAGE COMPANY 5 5.35% $10,078
    NAVY FEDERAL CREDIT UNION 4 5.84% $7,400
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.59% $8,358
    PENNYMAC LOAN SERVICES, LLC 3 5.88% $8,921
    USAA Federal Savings Bank 3 6.38% $7,195
    Golden Empire Mortgage, Inc. 2 7.19% $8,889
    CROSSCOUNTRY MORTGAGE, LLC 2 7.00% $5,399
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.25% $1,759
    MOVEMENT MORTGAGE, LLC 2 6.13% $10,673
    Neighborhood Loans, Inc. 2 6.06% $13,923
    Equity Prime Mortgage LLC 2 6.44% $7,226
    FREEDOM MORTGAGE CORPORATION 2 6.56% $13,268
    The Federal Savings Bank 2 6.25% $11,903
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.38% $13,720
    PENTAGON FEDERAL CREDIT UNION 1 4.88% $15,993
    Platinum Home Mortgage Corporation 1 6.25% $5,101
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.75% $25,079
    BROKER SOLUTIONS, INC. 1 7.25% $6,887
    S1L, Inc. 1 6.25% $10,006
    Sierra Pacific Mortgage Company, Inc. 1 6.25% $18,741
    CARDINAL FINANCIAL 1 6.50% $26,317
    Barrington Bank & Trust Company, N.A. 1 6.75% $8,341
    NEWREZ LLC 1 6.25% $7,847
    Ameris Bank 1 5.75% $12,072

    The top El Centro VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 24 VA loans originated. Their average total fees are $6,539, which is $3,541 lower than the next largest lender, Wallick & Volk, Inc..

    The lowest fee El Centro VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($6,539), Wallick & Volk, Inc. ($10,080), .

    The lowest rate El Centro VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.28%), Wallick & Volk, Inc. (6.50%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - El Centro (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 $238,700 (-4.3%) $249,643 (-0.2%) 0.00 237
    2018-02-01 $239,950 (-2.5%) $248,504 (0.1%) 0.00 243
    2018-03-01 $239,900 (1.5%) $244,073 (-1.7%) 0.00 242
    2018-04-01 $244,950 (0.8%) $249,089 (-0.6%) 0.00 238
    2018-05-01 $241,750 (-4.1%) $245,165 (-5.3%) 0.00 251
    2018-06-01 $240,000 (-4.8%) $244,761 (-4.0%) 0.00 241
    2018-07-01 $240,975 (-5.5%) $246,318 (-3.3%) 0.00 248
    2018-08-01 $247,475 (-3.8%) $251,557 (-1.0%) 0.00 241
    2018-09-01 $256,000 (0.4%) $252,601 (0.5%) 0.00 265
    2018-10-01 $258,160 (2.9%) $251,016 (-0.8%) 0.00 262
    2018-11-01 $249,000 (0.5%) $248,258 (-1.0%) 0.00 260
    2018-12-01 $249,000 (3.8%) $247,185 (-1.7%) 0.00 242
    2019-01-01 $248,000 (3.9%) $244,555 (-2.0%) 0.00 224
    2019-02-01 $241,250 (0.5%) $241,688 (-2.7%) 0.00 232
    2019-03-01 $241,500 (0.7%) $241,708 (-1.0%) 0.00 216
    2019-04-01 $242,000 (-1.2%) $240,689 (-3.4%) 0.00 211
    2019-05-01 $259,933 (7.5%) $255,069 (4.0%) 0.00 198
    2019-06-01 $269,995 (12.5%) $274,995 (12.4%) 0.00 191
    2019-07-01 $261,725 (8.6%) $272,610 (10.7%) 0.00 169
    2019-08-01 $253,795 (2.6%) $270,441 (7.5%) 0.00 167
    2019-09-01 $253,863 (-0.8%) $268,014 (6.1%) 0.00 165
    2019-10-01 $253,908 (-1.7%) $266,395 (6.1%) 0.00 168
    2019-11-01 $259,700 (4.3%) $278,483 (12.2%) 0.00 177
    2019-12-01 $269,700 (8.3%) $284,497 (15.1%) 0.00 178
    2020-01-01 $262,475 (5.8%) $271,866 (11.2%) 0.00 180
    2020-02-01 $254,990 (5.7%) $270,577 (12.0%) 0.00 182
    2020-03-01 $261,400 (8.2%) $274,362 (13.5%) 0.00 164
    2020-04-01 $259,900 (7.4%) $273,257 (13.5%) 0.00 164
    2020-05-01 $255,000 (-1.9%) $268,424 (5.2%) 0.00 141
    2020-06-01 $249,950 (-7.4%) $265,199 (-3.6%) 0.00 132
    2020-07-01 $250,000 (-4.5%) $266,961 (-2.1%) 0.00 115
    2020-08-01 $249,900 (-1.5%) $261,151 (-3.4%) 0.00 112
    2020-09-01 $239,925 (-5.5%) $254,723 (-5.0%) 0.00 112
    2020-10-01 $239,900 (-5.5%) $288,578 (8.3%) 0.00 108
    2020-11-01 $264,723 (1.9%) $304,545 (9.4%) 0.00 112
    2020-12-01 $238,175 (-11.7%) $301,338 (5.9%) 0.00 106
    2021-01-01 $239,900 (-8.6%) $314,771 (15.8%) 0.00 97
    2021-02-01 $234,900 (-7.9%) $322,005 (19.0%) 0.00 70
    2021-03-01 $237,200 (-9.3%) $336,158 (22.5%) 0.00 69
    2021-04-01 $282,500 (8.7%) $351,280 (28.6%) 0.00 75
    2021-05-01 $280,000 (9.8%) $334,692 (24.7%) 0.00 73
    2021-06-01 $292,000 (16.8%) $345,539 (30.3%) 0.00 69
    2021-07-01 $280,000 (12.0%) $336,701 (26.1%) 0.00 85
    2021-08-01 $283,750 (13.6%) $327,634 (25.5%) 0.00 99
    2021-09-01 $276,000 (15.0%) $324,671 (27.5%) 0.00 100
    2021-10-01 $265,000 (10.5%) $320,808 (11.2%) 0.00 91
    2021-11-01 $274,875 (3.8%) $325,575 (6.9%) 0.00 93
    2021-12-01 $297,225 (24.8%) $338,165 (12.2%) 0.00 81
    2022-01-01 $274,850 (14.6%) $300,571 (-4.5%) 0.00 61
    2022-02-01 $289,000 (23.0%) $311,928 (-3.1%) 0.00 67
    2022-03-01 $329,000 (38.7%) $336,029 (0.0%) 0.00 70
    2022-04-01 $329,000 (16.5%) $335,972 (-4.4%) 0.00 79
    2022-05-01 $329,000 (17.5%) $327,937 (-2.0%) 0.00 75
    2022-06-01 $329,000 (12.7%) $334,826 (-3.1%) 0.00 90
    2022-07-01 $359,900 (28.5%) $369,062 (9.6%) 0.00 112
    2022-08-01 $359,900 (26.8%) $371,451 (13.4%) 0.00 144
    2022-09-01 $359,900 (30.4%) $376,257 (15.9%) 0.00 151
    2022-10-01 $350,000 (32.1%) $371,226 (15.7%) 0.00 174
    2022-11-01 $342,975 (24.8%) $353,394 (8.5%) 0.00 192
    2022-12-01 $334,975 (12.7%) $351,080 (3.8%) 0.00 183
    2023-01-01 $344,225 (25.2%) $358,965 (19.4%) 0.00 160
    2023-02-01 $349,000 (20.8%) $361,727 (16.0%) 0.00 127
    2023-03-01 $345,975 (5.2%) $362,487 (7.9%) 0.00 117
    2023-04-01 $354,950 (7.9%) $368,541 (9.7%) 0.00 105
    2023-05-01 $359,900 (9.4%) $375,673 (14.6%) 0.00 104
    2023-06-01 $359,925 (9.4%) $382,376 (14.2%) 0.00 98
    2023-07-01 $359,900 (0.0%) $380,881 (3.2%) 0.00 98
    2023-08-01 $359,970 (0.0%) $368,001 (-0.9%) 0.00 109
    2023-09-01 $359,900 (0.0%) $368,636 (-2.0%) 0.00 108
    2023-10-01 $358,675 (2.5%) $371,120 (0.0%) 0.00 121
    2023-11-01 $348,000 (1.5%) $360,024 (1.9%) 0.00 124
    2023-12-01 $357,450 (6.7%) $368,605 (5.0%) 0.00 112
    2024-01-01 $353,750 (2.8%) $367,351 (2.3%) 0.00 103
    2024-02-01 $359,900 (3.1%) $375,088 (3.7%) 0.00 115
    2024-03-01 $359,900 (4.0%) $374,790 (3.4%) 0.00 99
    El Centro's median listing price for 2024-03-01 was $359,900, a difference of $13,925 (4.0%) versus the prior year and $0 versus the prior month.

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

    El Centro's average listing price for 2024-03-01 was $374,790, a difference of $12,303 (3.4%) versus the prior year and $-298 versus the prior month.

    For the 2024-03-01 period, El Centro had 99 MLS listings, a difference of -16 listings (-14%) versus the prior month and -18 listings (-15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - El Centro (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,706 sqft
    2018-02-01 0 days 1,685 sqft
    2018-03-01 0 days 1,690 sqft
    2018-04-01 0 days 1,712 sqft
    2018-05-01 0 days 1,685 sqft
    2018-06-01 0 days 1,630 sqft
    2018-07-01 0 days 1,618 sqft
    2018-08-01 0 days 1,730 sqft
    2018-09-01 0 days 1,733 sqft
    2018-10-01 0 days 1,703 sqft
    2018-11-01 0 days 1,669 sqft
    2018-12-01 0 days 1,630 sqft
    2019-01-01 0 days 1,647 sqft
    2019-02-01 0 days 1,608 sqft
    2019-03-01 0 days 1,573 sqft
    2019-04-01 0 days 1,597 sqft
    2019-05-01 0 days 1,699 sqft
    2019-06-01 0 days 1,771 sqft
    2019-07-01 0 days 1,705 sqft
    2019-08-01 0 days 1,623 sqft
    2019-09-01 0 days 1,610 sqft
    2019-10-01 0 days 1,600 sqft
    2019-11-01 0 days 1,631 sqft
    2019-12-01 0 days 1,673 sqft
    2020-01-01 0 days 1,607 sqft
    2020-02-01 0 days 1,617 sqft
    2020-03-01 0 days 1,661 sqft
    2020-04-01 0 days 1,615 sqft
    2020-05-01 0 days 1,578 sqft
    2020-06-01 0 days 1,560 sqft
    2020-07-01 0 days 1,576 sqft
    2020-08-01 0 days 1,560 sqft
    2020-09-01 0 days 1,562 sqft
    2020-10-01 0 days 1,560 sqft
    2020-11-01 0 days 1,690 sqft
    2020-12-01 0 days 1,560 sqft
    2021-01-01 0 days 1,569 sqft
    2021-02-01 0 days 1,560 sqft
    2021-03-01 0 days 1,560 sqft
    2021-04-01 0 days 1,693 sqft
    2021-05-01 0 days 1,695 sqft
    2021-06-01 0 days 1,695 sqft
    2021-07-01 0 days 1,695 sqft
    2021-08-01 0 days 1,677 sqft
    2021-09-01 0 days 1,601 sqft
    2021-10-01 0 days 1,600 sqft
    2021-11-01 0 days 1,592 sqft
    2021-12-01 0 days 1,656 sqft
    2022-01-01 0 days 1,556 sqft
    2022-02-01 0 days 1,560 sqft
    2022-03-01 0 days 1,570 sqft
    2022-04-01 0 days 1,596 sqft
    2022-05-01 0 days 1,560 sqft
    2022-06-01 0 days 1,602 sqft
    2022-07-01 0 days 1,690 sqft
    2022-08-01 0 days 1,693 sqft
    2022-09-01 0 days 1,695 sqft
    2022-10-01 0 days 1,671 sqft
    2022-11-01 0 days 1,596 sqft
    2022-12-01 0 days 1,624 sqft
    2023-01-01 0 days 1,644 sqft
    2023-02-01 0 days 1,669 sqft
    2023-03-01 0 days 1,694 sqft
    2023-04-01 0 days 1,695 sqft
    2023-05-01 0 days 1,695 sqft
    2023-06-01 0 days 1,695 sqft
    2023-07-01 0 days 1,695 sqft
    2023-08-01 0 days 1,695 sqft
    2023-09-01 0 days 1,695 sqft
    2023-10-01 0 days 1,630 sqft
    2023-11-01 0 days 1,562 sqft
    2023-12-01 0 days 1,560 sqft
    2024-01-01 0 days 1,555 sqft
    2024-02-01 0 days 1,560 sqft
    2024-03-01 0 days 1,600 sqft
    El Centro's median listing age (time on market) for 2024-03-01 was 0 days.

    El Centro's median square footage for active listings during the 2024-03-01 period was 1,600 sqft. One year prior, the average listing was 1,694 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.