Eugene VA Loan Rates, Closing Costs & Stats

EUGENE-SPRINGFIELD, 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.

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 6.47% for the week of 2024-06-07, compared to the national average (all VA variants) of 6.387% for the same period.

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

The average rate for the prior week (2024-05-31) was 6.98% and one month ago for the week of 2024-05-03, the average rate was 6.81%.

The average rate one year ago was 6.41%.

For refis of the same type during the week of 2024-06-07, the average rate was 7.06%.

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%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Eugene (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 $343,248 (5.6%) $424,259 (1.7%) 1.27 657
2018-02-01 $372,450 (8.2%) $464,865 (6.4%) 1.35 598
2018-03-01 $394,950 (13.2%) $476,747 (8.2%) 1.39 599
2018-04-01 $399,995 (14.3%) $489,077 (9.9%) 1.36 654
2018-05-01 $407,498 (11.0%) $498,672 (11.1%) 1.36 697
2018-06-01 $385,000 (7.1%) $472,030 (7.6%) 1.28 872
2018-07-01 $389,375 (11.3%) $481,076 (11.5%) 1.30 915
2018-08-01 $371,200 (7.6%) $470,755 (12.2%) 1.24 1,036
2018-09-01 $369,000 (10.2%) $467,745 (13.8%) 1.24 1,012
2018-10-01 $368,625 (8.5%) $465,156 (11.7%) 1.25 952
2018-11-01 $361,450 (3.3%) $461,338 (7.7%) 1.23 908
2018-12-01 $365,000 (7.4%) $470,922 (10.1%) 1.26 784
2019-01-01 $366,950 (6.9%) $475,780 (12.1%) 1.27 654
2019-02-01 $382,350 (2.7%) $478,407 (2.9%) 1.29 625
2019-03-01 $385,643 (-2.4%) $474,432 (-0.5%) 1.26 602
2019-04-01 $379,450 (-5.1%) $454,133 (-7.1%) 1.20 621
2019-05-01 $383,620 (-5.9%) $456,331 (-8.5%) 1.20 702
2019-06-01 $385,000 (0.0%) $463,849 (-1.7%) 1.20 791
2019-07-01 $398,975 (2.5%) $474,040 (-1.5%) 1.25 798
2019-08-01 $395,964 (6.7%) $469,712 (-0.2%) 1.25 795
2019-09-01 $392,609 (6.4%) $467,003 (-0.2%) 1.26 800
2019-10-01 $390,248 (5.9%) $463,136 (-0.4%) 1.26 790
2019-11-01 $397,000 (9.8%) $469,424 (1.8%) 1.30 670
2019-12-01 $399,000 (9.3%) $469,106 (-0.4%) 1.33 530
2020-01-01 $399,000 (8.7%) $467,131 (-1.8%) 1.33 492
2020-02-01 $399,000 (4.4%) $472,766 (-1.2%) 1.31 457
2020-03-01 $402,500 (4.4%) $477,946 (0.7%) 1.26 510
2020-04-01 $399,500 (5.3%) $468,482 (3.2%) 1.25 641
2020-05-01 $419,000 (9.2%) $477,853 (4.7%) 1.27 635
2020-06-01 $434,350 (12.8%) $493,556 (6.4%) 1.28 581
2020-07-01 $422,000 (5.8%) $493,513 (4.1%) 1.22 519
2020-08-01 $425,000 (7.3%) $501,757 (6.8%) 1.22 488
2020-09-01 $434,350 (10.6%) $510,294 (9.3%) 1.24 480
2020-10-01 $424,250 (8.7%) $513,229 (10.8%) 1.22 448
2020-11-01 $410,000 (3.3%) $513,655 (9.4%) 1.20 371
2020-12-01 $420,000 (5.3%) $537,269 (14.5%) 1.25 321
2021-01-01 $425,000 (6.5%) $541,681 (16.0%) 1.27 263
2021-02-01 $414,988 (4.0%) $526,335 (11.3%) 1.21 250
2021-03-01 $434,719 (8.0%) $547,781 (14.6%) 1.23 244
2021-04-01 $434,500 (8.8%) $559,384 (19.4%) 1.18 260
2021-05-01 $449,950 (7.4%) $567,339 (18.7%) 1.20 306
2021-06-01 $450,000 (3.6%) $589,166 (19.4%) 1.18 344
2021-07-01 $449,900 (6.6%) $580,074 (17.5%) 1.19 396
2021-08-01 $461,975 (8.7%) $603,840 (20.4%) 1.23 452
2021-09-01 $454,673 (4.7%) $604,833 (18.5%) 1.21 423
2021-10-01 $456,230 (7.5%) $605,193 (17.9%) 1.22 398
2021-11-01 $467,450 (14.0%) $626,640 (22.0%) 1.25 340
2021-12-01 $461,250 (9.8%) $616,898 (14.8%) 1.25 263
2022-01-01 $468,750 (10.3%) $625,983 (15.6%) 1.27 233
2022-02-01 $469,950 (13.2%) $648,400 (23.2%) 1.22 230
2022-03-01 $467,450 (7.5%) $611,534 (11.6%) 1.17 245
2022-04-01 $485,000 (11.6%) $611,522 (9.3%) 1.16 258
2022-05-01 $492,725 (9.5%) $621,080 (9.5%) 1.13 361
2022-06-01 $505,000 (12.2%) $610,346 (3.6%) 1.12 436
2022-07-01 $514,950 (14.5%) $619,614 (6.8%) 1.16 581
2022-08-01 $508,198 (10.0%) $617,211 (2.2%) 1.17 573
2022-09-01 $500,965 (10.2%) $631,360 (4.4%) 1.17 524
2022-10-01 $510,000 (11.8%) $638,794 (5.6%) 1.20 536
2022-11-01 $499,950 (7.0%) $628,990 (0.4%) 1.20 516
2022-12-01 $500,000 (8.4%) $626,399 (1.5%) 1.23 439
2023-01-01 $518,063 (10.5%) $633,234 (1.2%) 1.28 406
2023-02-01 $511,200 (8.8%) $626,042 (-3.5%) 1.23 367
2023-03-01 $516,200 (10.4%) $627,285 (2.6%) 1.22 397
2023-04-01 $524,950 (8.2%) $625,437 (2.3%) 1.22 426
2023-05-01 $532,000 (8.0%) $633,129 (1.9%) 1.21 467
2023-06-01 $537,475 (6.4%) $645,417 (5.8%) 1.21 554
2023-07-01 $535,000 (3.9%) $657,883 (6.2%) 1.22 646
2023-08-01 $525,000 (3.3%) $650,321 (5.4%) 1.21 721
2023-09-01 $535,000 (6.8%) $647,388 (2.5%) 1.25 769
2023-10-01 $529,475 (3.8%) $653,311 (2.3%) 1.25 745
2023-11-01 $522,447 (4.5%) $649,023 (3.2%) 1.24 696
2023-12-01 $522,450 (4.5%) $656,759 (4.9%) 1.27 644
2024-01-01 $527,000 (1.7%) $666,661 (5.3%) 1.29 549
2024-02-01 $521,236 (2.0%) $663,837 (6.0%) 1.25 498
2024-03-01 $525,000 (1.7%) $663,301 (5.7%) 1.24 534
2024-04-01 $534,500 (1.8%) $665,599 (6.4%) 1.24 607
2024-05-01 $549,500 (3.3%) $687,503 (8.6%) 1.24 675
Eugene's median listing price for 2024-05-01 was $549,500, a difference of $17,500 (3.3%) versus the prior year and $15,000 versus the prior month.

Eugene's median listing price comes in at 124% of the national average.

Eugene's average listing price for 2024-05-01 was $687,503, a difference of $54,374 (8.6%) versus the prior year and $21,904 versus the prior month.

For the 2024-05-01 period, Eugene had 675 MLS listings, a difference of 68 listings (11%) versus the prior month and 208 listings (45%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Eugene (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 76 days 1,907 sqft
2018-02-01 59 days 1,965 sqft
2018-03-01 44 days 2,000 sqft
2018-04-01 38 days 2,045 sqft
2018-05-01 36 days 2,058 sqft
2018-06-01 32 days 1,951 sqft
2018-07-01 38 days 1,939 sqft
2018-08-01 39 days 1,929 sqft
2018-09-01 46 days 1,912 sqft
2018-10-01 55 days 1,902 sqft
2018-11-01 55 days 1,858 sqft
2018-12-01 59 days 1,851 sqft
2019-01-01 68 days 1,847 sqft
2019-02-01 62 days 1,886 sqft
2019-03-01 49 days 1,879 sqft
2019-04-01 37 days 1,842 sqft
2019-05-01 28 days 1,877 sqft
2019-06-01 32 days 1,876 sqft
2019-07-01 37 days 1,960 sqft
2019-08-01 40 days 1,944 sqft
2019-09-01 46 days 1,939 sqft
2019-10-01 50 days 1,935 sqft
2019-11-01 64 days 1,957 sqft
2019-12-01 76 days 1,929 sqft
2020-01-01 75 days 1,926 sqft
2020-02-01 51 days 1,948 sqft
2020-03-01 44 days 1,924 sqft
2020-04-01 41 days 1,866 sqft
2020-05-01 59 days 1,916 sqft
2020-06-01 60 days 1,952 sqft
2020-07-01 48 days 1,934 sqft
2020-08-01 46 days 1,935 sqft
2020-09-01 44 days 1,844 sqft
2020-10-01 49 days 1,810 sqft
2020-11-01 69 days 1,707 sqft
2020-12-01 78 days 1,702 sqft
2021-01-01 61 days 1,638 sqft
2021-02-01 48 days 1,564 sqft
2021-03-01 41 days 1,626 sqft
2021-04-01 33 days 1,618 sqft
2021-05-01 26 days 1,689 sqft
2021-06-01 27 days 1,732 sqft
2021-07-01 31 days 1,710 sqft
2021-08-01 35 days 1,707 sqft
2021-09-01 42 days 1,761 sqft
2021-10-01 54 days 1,726 sqft
2021-11-01 55 days 1,739 sqft
2021-12-01 49 days 1,671 sqft
2022-01-01 64 days 1,688 sqft
2022-02-01 31 days 1,707 sqft
2022-03-01 29 days 1,649 sqft
2022-04-01 29 days 1,686 sqft
2022-05-01 23 days 1,709 sqft
2022-06-01 26 days 1,734 sqft
2022-07-01 29 days 1,789 sqft
2022-08-01 35 days 1,815 sqft
2022-09-01 44 days 1,796 sqft
2022-10-01 43 days 1,816 sqft
2022-11-01 46 days 1,840 sqft
2022-12-01 60 days 1,812 sqft
2023-01-01 69 days 1,815 sqft
2023-02-01 56 days 1,759 sqft
2023-03-01 38 days 1,799 sqft
2023-04-01 40 days 1,786 sqft
2023-05-01 40 days 1,817 sqft
2023-06-01 36 days 1,823 sqft
2023-07-01 38 days 1,814 sqft
2023-08-01 40 days 1,844 sqft
2023-09-01 44 days 1,842 sqft
2023-10-01 52 days 1,823 sqft
2023-11-01 56 days 1,801 sqft
2023-12-01 64 days 1,802 sqft
2024-01-01 73 days 1,817 sqft
2024-02-01 73 days 1,794 sqft
2024-03-01 44 days 1,755 sqft
2024-04-01 44 days 1,785 sqft
2024-05-01 39 days 1,840 sqft
Eugene's median listing age (time on market) for 2024-05-01 was 39 days. This is -2% shorter than the same period one year ago.

Eugene's median square footage for active listings during the 2024-05-01 period was 1,840 sqft. One year prior, the average listing was 1,817 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.