Eugene VA Loan Rates, Closing Costs & Stats

EUGENE-SPRINGFIELD, 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.

    Eugene's 66 lenders originated 310 VA loans during 2023. The total origination value was $125,200,000, with an average VA loan value of $403,871.

    Eugene VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Eugene averaged 6.59% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Eugene's average VA mortgage closing costs are $6,880.

    The average rate for the prior week (2024-07-12) was 6.33% and one month ago for the week of 2024-06-14, the average rate was 6.39%.

    The average rate one year ago was 6.97%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.87%.

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

    Eugene 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 Eugene level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 37 5.89% $8,960
    Mortgage Research Center, LLC 36 6.65% $7,680
    SUMMIT FUNDING, INC. 23 6.50% $8,085
    QUICKEN LOANS, LLC 18 5.89% $16,196
    CMG MORTGAGE, INC. 15 6.16% $10,769
    FREEDOM MORTGAGE CORPORATION 15 6.08% $14,444
    NAVY FEDERAL CREDIT UNION 14 5.74% $5,158
    AMERICAN PACIFIC MORTGAGE CORPORATION 12 6.45% $11,667
    DHI MORTGAGE COMPANY, LTD. 9 5.58% $6,719
    LOANDEPOT.COM, LLC 9 6.36% $16,178
    Century Mortgage Company DBA Century Lending Company 6 6.25% $7,601
    DIRECTORS MORTGAGE, INC. 5 6.45% $19,853
    MANN FINANCIAL INC. 5 6.23% $7,238
    NEWREZ LLC 5 6.03% $10,597
    Umpqua Bank 5 6.88% $11,816
    BROKER SOLUTIONS, INC. 4 6.59% $23,799
    CROSSCOUNTRY MORTGAGE, LLC 4 6.20% $12,878
    The Federal Savings Bank 4 6.09% $22,220
    MOVEMENT MORTGAGE, LLC 3 6.38% $7,882
    EAGLE HOME MORTGAGE, LLC 3 6.08% $10,192
    NOVA FINANCIAL & INVESTMENT CORPORATION 3 6.54% $7,368
    PENNYMAC LOAN SERVICES, LLC 3 5.25% $13,107
    NATIONS DIRECT MORTGAGE, LLC 3 6.25% $18,964
    Willamette Valley Bank 2 5.81% $12,229
    Franklin Loan Corporation 2 6.00% $16,600
    GUARANTEED RATE, INC. 2 5.98% $2,793
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 5.75% $4,589
    Magnolia Bank 2 5.88% $18,168
    Mr. Cooper ( Nationstar Mortgage ) 2 5.69% $22,966
    NEW DAY FINANCIAL, LLC 2 7.37% $16,696
    TruHome Solutions, LLC 2 5.50% $8,393
    VERITAS FUNDING, LLC 2 6.06% $37,581
    USAA Federal Savings Bank 1 5.75% $6,669
    INTERCAP LENDING INC. 1 6.63% $15,646
    MASON MCDUFFIE MORTGAGE CORPORATION 1 7.75% $17,615
    MORTGAGE EXPRESS, LLC 1 5.00% $15,210
    GUILD MORTGAGE COMPANY 1 6.63% $11,296
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $99
    Flagstar Bank, FSB 1 6.75% $472
    Academy Bank 1 5.75% $6,309
    First Federal Bank 1 6.25% $6,881
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 6.25% $7,378
    VILLAGE CAPITAL MORTGAGE 1 5.75% $13,471
    Equity Prime Mortgage LLC 1 6.50% $8,228
    NexBank 1 6.25% $7,054
    CHERRY CREEK MORTGAGE, LLC 1 5.75% $0
    CALIBER HOME LOANS, INC. 1 6.25% $9,585
    PLANET HOME LENDING, LLC 1 5.00% $25,403
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 4.88% $15,384
    Prosperity Home Mortgage, LLC 1 5.13% $20,539
    BNC National Bank 1 6.00% $5,148
    ROGUE 1 6.13% $6,974
    S1L, Inc. 1 6.75% $22,260
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.75% $12,003
    SOVEREIGN LENDING GROUP INCORPORATED 1 6.00% $24,701
    BAY EQUITY LLC 1 6.13% $19
    SUMMIT MORTGAGE CORPORATION 1 6.25% $13,680
    AMERISAVE MORTGAGE CORPORATION 1 7.13% $10,816
    V.I.P. MORTGAGE, INC. 1 5.75% $7,040
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.00% $8,805
    AMERICAN FINANCIAL NETWORK, INC. 1 7.00% $0
    KeyBank 1 4.88% $15,175
    LADERA LENDING, INC. 1 6.50% $11,405
    LAKEVIEW LOAN SERVICING, LLC 1 6.50% $9,388
    ISERVE RESIDENTIAL LENDING, LLC 1 6.25% $21,456
    LPMC, LLC 1 5.75% $7,101

    The top Eugene VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 37 VA loans originated. Their average total fees are $8,960, which is $1,280 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Eugene VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($5,158), Mortgage Research Center, LLC ($7,680), SUMMIT FUNDING, INC. ($8,085), UNITED WHOLESALE MORTGAGE, LLC ($8,960) and CMG MORTGAGE, INC. ($10,769).

    The lowest rate Eugene VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.74%), QUICKEN LOANS, LLC (5.89%), UNITED WHOLESALE MORTGAGE, LLC (5.89%), FREEDOM MORTGAGE CORPORATION (6.08%) and CMG MORTGAGE, INC. (6.16%).

    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.