Eugene VA Loans

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 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 125 lenders originated 1,782 VA loans during 2021. The total origination value was $561,410,000, with an average VA loan value of $315,045.

Eugene VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Eugene averaged 5.39% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

The average rate for the prior week (2022-05-13) was 5.4% and one month ago for the week of 2022-04-15, the average rate was 5.06%.

The average rate one year ago was 3.35%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.38%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Eugene level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FREEDOM MORTGAGE CORPORATION 169 2.39% $3,968
QUICKEN LOANS, LLC 107 2.43% $5,956
SUMMIT FUNDING, INC. 104 2.93% $8,223
Mortgage Research Center, LLC 93 2.76% $6,076
LOANDEPOT.COM, LLC 92 2.58% $7,258
CALIBER HOME LOANS, INC. 71 2.58% $7,018
GUILD MORTGAGE COMPANY 70 2.80% $6,350
PENNYMAC LOAN SERVICES, LLC 66 2.41% $6,178
CMG MORTGAGE, INC. 53 2.36% $6,087
CROSSCOUNTRY MORTGAGE, LLC 41 2.76% $11,860
UNITED WHOLESALE MORTGAGE, LLC 38 2.46% $5,097
FINANCE OF AMERICA MORTGAGE LLC 38 2.89% $6,717
LAKEVIEW LOAN SERVICING, LLC 35 2.52% $3,322
The Federal Savings Bank 35 2.52% $10,169
HOMEBRIDGE FINANCIAL SERVICES, INC. 32 2.61% $7,249
NEW DAY FINANCIAL, LLC 29 2.67% $8,672
DIRECTORS MORTGAGE, INC. 28 2.86% $9,034
Umpqua Bank 28 2.83% $6,911
NATIONS DIRECT MORTGAGE, LLC 27 2.80% $8,152
NAVY FEDERAL CREDIT UNION 25 2.49% $6,189
USAA Federal Savings Bank 23 2.86% $4,569
HOME POINT FINANCIAL CORPORATION 23 2.39% $6,490
InterContinental Capital Group, Inc 16 2.35% $4,788
NORTHWEST COMMUNITY 15 2.48% $5,429
Mr. Cooper ( Nationstar Mortgage ) 14 2.81% $4,015
STEARNS LENDING, LLC 14 2.44% $7,348
VILLAGE CAPITAL & INVESTMENT LLC 14 2.38% $3,731
NEWREZ LLC 13 2.68% $5,218
CHERRY CREEK MORTGAGE, LLC 11 2.47% $11,231
Low VA Rates, LLC 11 2.36% $4,371
Wells Fargo Bank 9 2.56% $4,502
AMERISAVE MORTGAGE CORPORATION 9 2.63% $5,597
AMERICAN FINANCIAL NETWORK, INC. 8 2.66% $9,637
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 8 2.67% $5,794
BROKER SOLUTIONS, INC. 7 2.28% $5,332
PENTAGON FEDERAL CREDIT UNION 7 2.25% $3,029
SOVEREIGN LENDING GROUP INCORPORATED 7 2.48% $9,067
First Guaranty Mortgage Corporation 7 2.32% $4,591
PREMIER MORTGAGE RESOURCES, L.L.C. 7 2.66% $6,895
Banner Bank 6 2.38% $6,021
MORTGAGE EXPRESS, LLC 6 2.88% $9,642
Sierra Pacific Mortgage Company, Inc. 6 2.60% $10,276
PLANET HOME LENDING, LLC 6 2.35% $2,471
Flagstar Bank, FSB 6 2.73% $5,484
MUTUAL OF OMAHA MORTGAGE, INC. 6 2.75% $6,651
NETWORK CAPITAL FUNDING CORPORATION 6 2.60% $4,705
MANN FINANCIAL INC. 6 3.35% $10,531
ACCELERATE MORTGAGE, LLC 6 2.46% $10,996
MOVEMENT MORTGAGE, LLC 5 3.00% $6,287
ON Q FINANCIAL, INC. 5 2.58% $6,244
PACIFIC RESIDENTIAL MORTGAGE, LLC 5 2.90% $7,518
Carrington Mortgage Services, LLC 5 2.78% $6,844
HomeStreet Bank 4 2.38% $2,907
First Federal Bank 4 2.97% $9,203
North American Savings Bank, F.S.B. 4 2.38% $5,049
GENEVA FINANCIAL, LLC 4 3.16% $6,844
Magnolia Bank 4 2.84% $10,958
ACADEMY MORTGAGE CORPORATION 3 2.58% $7,327
AMERICAN FINANCIAL RESOURCES, INC. 3 2.88% $9,730
AMERICAN FINANCING CORPORATION 3 2.63% $1,358
BECKAM FUNDING CORP. 3 2.67% $4,947
BNC National Bank 3 2.33% $2,973
CLEARPATH LENDING 3 2.08% $4,392
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 3 3.54% $10,196
LADERA LENDING, INC. 3 2.54% $8,399
Nations Lending Corporation 3 3.04% $14,950
NBKC BANK 3 2.42% $9,967
NP, Inc. 3 2.25% $4,960
PLAZA HOME MORTGAGE, INC. 3 2.54% $5,293
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 2.71% $5,679
SUMMIT MORTGAGE CORPORATION 3 2.63% $2,422
SUN WEST MORTGAGE COMPANY, INC. 3 2.33% $3,327
U.S. Bank 3 2.88% $6,663
Willamette Valley Bank 3 2.67% $877
CELEBRITY HOME LOANS, LLC 2 2.69% $3,733
EVERETT FINANCIAL, INC. 2 3.00% $12,389
TruHome Solutions, LLC 2 2.63% $3,471
Community First National Bank 2 2.94% $7,582
CANOPY MORTGAGE, LLC 2 2.87% $8,735
Commerce Home Mortgage, Inc. 2 2.75% $6,568
AMERICAN PACIFIC MORTGAGE CORPORATION 2 2.63% $8,577
DHI MORTGAGE COMPANY, LTD. 2 2.63% $10,742
LENDUS, LLC 2 2.50% $9,877
LENDING 3, INC. 2 2.63% $7,132
Wyndham Capital Mortgage, Inc. 2 2.50% $3,002
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 2.87% $8,986
The Central Trust Bank 2 2.25% $12,020
BAYSHORE MORTGAGE FUNDING, LLC 2 2.31% $3,523
RANLIFE, INC. 1 2.25% $24,963
ROGUE 1 2.75% $3,446
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $8,946
SECURITYNATIONAL MORTGAGE COMPANY 1 3.75% $6,607
Century Mortgage Company DBA Century Lending Company 1 2.75% $4,183
SRE MORTGAGE ALLIANCE INC. 1 2.25% $2,006
S&S Financial 1 2.25% $5,002
Stifel Bank and Trust 1 2.75% $2,944
Strong Home Mortgage, LLC 1 2.25% $1,655
BEST CAPITAL FUNDING 1 2.75% $5,439
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 2.75% $16,097
ZILLOW HOME LOANS, LLC 1 2.75% $4,364
TJC Mortgage, Inc. 1 2.25% $1,898
TOP FLITE FINANCIAL, INC. 1 2.25% $3,416
Barrington Bank & Trust Company, N.A. 1 2.25% $5,910
UNITED MORTGAGE CORP. 1 2.88% $17,501
MORTGAGE ACCESS CORP. 1 2.75% $2,993
MID AMERICA MORTGAGE, INC. 1 2.75% $2,316
LPMC, LLC 1 3.25% $0
IMPAC MORTGAGE CORP. 1 2.38% $1,132
HOMESIDE FINANCIAL, LLC 1 2.25% $4,458
Bank of England 1 2.25% $2,325
Ameris Bank 1 2.63% $14,800
Goldwater Bank, N.A. 1 2.50% $3,721
Gateway First Bank 1 3.00% $4,509
First Mortgage Solutions, LLC 1 2.50% $23,140
FBC MORTGAGE, LLC 1 2.38% $3,691
OCMBC, INC. 1 2.25% $3,080
OnPoint Community Credit Union 1 2.75% $3,399
OPEN MORTGAGE, LLC 1 2.50% $4,579
DATA MORTGAGE, INC. 1 3.13% $905
CORNERSTONE HOME LENDING, INC. 1 3.25% $4,404
COASTAL FUNDING SLC, INC. 1 2.88% $5,805
Washington Trust Bank 1 2.38% $6,070
Prime Choice Funding Inc. 1 2.25% $2,404
Prosperity Home Mortgage, LLC 1 2.25% $10,328
CITYWIDE HOME LOANS, LLC 1 2.25% $2,652

The top Eugene VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 169 VA loans originated. Their average total fees are $3,968, which is $1,988 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Eugene VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($3,322), VILLAGE CAPITAL & INVESTMENT LLC ($3,731), FREEDOM MORTGAGE CORPORATION ($3,968), Mr. Cooper ( Nationstar Mortgage ) ($4,015) and Low VA Rates, LLC ($4,371).

The lowest rate Eugene VA lenders (with over 10 loans originated) are InterContinental Capital Group, Inc (2.35%), CMG MORTGAGE, INC. (2.36%), Low VA Rates, LLC (2.36%), VILLAGE CAPITAL & INVESTMENT LLC (2.38%) and HOME POINT FINANCIAL CORPORATION (2.39%).


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 $349,445 (7.5%) $424,936 (1.2%) 1.29 680
2018-02-01 $375,000 (8.9%) $463,401 (6.1%) 1.35 615
2018-03-01 $399,000 (14.3%) $475,112 (8.8%) 1.38 619
2018-04-01 $404,950 (15.7%) $489,632 (10.9%) 1.36 681
2018-05-01 $414,450 (12.2%) $497,757 (2.5%) 1.38 732
2018-06-01 $388,000 (7.8%) $476,565 (1.9%) 1.29 914
2018-07-01 $389,900 (11.4%) $480,887 (11.2%) 1.30 939
2018-08-01 $374,950 (8.2%) $472,021 (12.5%) 1.25 1,059
2018-09-01 $370,000 (10.5%) $469,972 (14.6%) 1.24 1,039
2018-10-01 $369,900 (8.8%) $467,403 (12.2%) 1.24 973
2018-11-01 $365,000 (4.3%) $463,339 (7.2%) 1.22 930
2018-12-01 $369,000 (8.5%) $474,419 (9.2%) 1.26 799
2019-01-01 $369,500 (5.7%) $477,000 (12.3%) 1.27 667
2019-02-01 $384,500 (2.5%) $483,158 (4.3%) 1.29 635
2019-03-01 $390,814 (-2.1%) $473,404 (-0.4%) 1.27 612
2019-04-01 $379,450 (-6.3%) $451,332 (-7.8%) 1.19 628
2019-05-01 $381,750 (-7.9%) $454,036 (-8.8%) 1.18 703
2019-06-01 $382,240 (-1.5%) $458,878 (-3.7%) 1.18 799
2019-07-01 $399,000 (2.3%) $473,349 (-1.6%) 1.24 807
2019-08-01 $388,571 (3.6%) $465,475 (-1.4%) 1.22 818
2019-09-01 $383,521 (3.7%) $460,334 (-2.1%) 1.22 833
2019-10-01 $389,900 (5.4%) $464,180 (-0.7%) 1.24 795
2019-11-01 $405,000 (11.0%) $483,139 (4.3%) 1.31 672
2019-12-01 $401,000 (8.7%) $482,072 (1.6%) 1.34 534
2020-01-01 $400,000 (8.3%) $476,097 (-0.2%) 1.33 489
2020-02-01 $400,000 (4.0%) $473,072 (-2.1%) 1.29 463
2020-03-01 $415,500 (6.3%) $485,993 (2.7%) 1.30 514
2020-04-01 $403,500 (6.3%) $475,470 (5.4%) 1.26 654
2020-05-01 $425,000 (11.3%) $490,922 (8.1%) 1.29 638
2020-06-01 $450,000 (17.7%) $508,896 (10.9%) 1.31 588
2020-07-01 $427,250 (7.1%) $496,063 (4.8%) 1.22 519
2020-08-01 $434,900 (11.9%) $510,500 (9.7%) 1.24 485
2020-09-01 $447,250 (16.6%) $527,604 (14.6%) 1.28 479
2020-10-01 $449,900 (15.4%) $535,874 (15.5%) 1.29 459
2020-11-01 $439,500 (8.5%) $544,685 (12.7%) 1.26 377
2020-12-01 $437,500 (9.1%) $556,610 (15.5%) 1.28 325
2021-01-01 $425,000 (6.3%) $548,618 (15.2%) 1.25 264
2021-02-01 $420,000 (5.0%) $534,757 (13.0%) 1.21 252
2021-03-01 $435,000 (4.7%) $551,165 (13.4%) 1.22 247
2021-04-01 $438,250 (8.6%) $565,174 (18.9%) 1.18 259
2021-05-01 $450,000 (5.9%) $576,824 (17.5%) 1.18 312
2021-06-01 $451,500 (0.3%) $602,848 (18.5%) 1.17 350
2021-07-01 $449,450 (5.2%) $589,338 (18.8%) 1.17 396
2021-08-01 $462,400 (6.3%) $611,028 (19.7%) 1.22 453
2021-09-01 $456,495 (2.1%) $623,479 (18.2%) 1.20 426
2021-10-01 $457,500 (1.7%) $625,351 (16.7%) 1.20 404
2021-11-01 $468,750 (6.7%) $650,297 (19.4%) 1.24 344
2021-12-01 $465,000 (6.3%) $638,867 (14.8%) 1.24 272
2022-01-01 $459,900 (8.2%) $645,150 (17.6%) 1.23 233
2022-02-01 $474,950 (13.1%) $664,883 (24.3%) 1.21 234
2022-03-01 $467,500 (7.5%) $617,916 (12.1%) 1.15 242
2022-04-01 $489,900 (11.8%) $623,898 (10.4%) 1.15 261
Eugene's median listing price for 2022-04-01 was $489,900, a difference of $51,650 (11.8%) versus the prior year and $22,400 versus the prior month.

Eugene's median listing price comes in at 115% of the national average.

Eugene's average listing price for 2022-04-01 was $623,898, a difference of $58,724 (10.4%) versus the prior year and $5,982 versus the prior month.

For the 2022-04-01 period, Eugene had 261 MLS listings, a difference of 19 listings (8%) versus the prior month and 2 listings (1%) 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 81 days 1,933 sqft
2018-02-01 66 days 1,983 sqft
2018-03-01 49 days 2,009 sqft
2018-04-01 44 days 2,049 sqft
2018-05-01 39 days 2,063 sqft
2018-06-01 36 days 1,951 sqft
2018-07-01 41 days 1,948 sqft
2018-08-01 42 days 1,928 sqft
2018-09-01 49 days 1,912 sqft
2018-10-01 59 days 1,908 sqft
2018-11-01 58 days 1,857 sqft
2018-12-01 62 days 1,856 sqft
2019-01-01 72 days 1,844 sqft
2019-02-01 67 days 1,896 sqft
2019-03-01 52 days 1,879 sqft
2019-04-01 41 days 1,836 sqft
2019-05-01 29 days 1,857 sqft
2019-06-01 34 days 1,872 sqft
2019-07-01 39 days 1,953 sqft
2019-08-01 39 days 1,929 sqft
2019-09-01 43 days 1,921 sqft
2019-10-01 51 days 1,938 sqft
2019-11-01 63 days 1,992 sqft
2019-12-01 73 days 1,957 sqft
2020-01-01 75 days 1,950 sqft
2020-02-01 53 days 1,960 sqft
2020-03-01 41 days 1,946 sqft
2020-04-01 38 days 1,906 sqft
2020-05-01 56 days 1,947 sqft
2020-06-01 53 days 2,023 sqft
2020-07-01 51 days 1,946 sqft
2020-08-01 44 days 1,948 sqft
2020-09-01 35 days 1,908 sqft
2020-10-01 37 days 1,844 sqft
2020-11-01 55 days 1,739 sqft
2020-12-01 70 days 1,718 sqft
2021-01-01 70 days 1,639 sqft
2021-02-01 50 days 1,590 sqft
2021-03-01 42 days 1,619 sqft
2021-04-01 39 days 1,633 sqft
2021-05-01 30 days 1,663 sqft
2021-06-01 31 days 1,741 sqft
2021-07-01 34 days 1,736 sqft
2021-08-01 34 days 1,708 sqft
2021-09-01 38 days 1,782 sqft
2021-10-01 42 days 1,736 sqft
2021-11-01 46 days 1,748 sqft
2021-12-01 49 days 1,649 sqft
2022-01-01 56 days 1,653 sqft
2022-02-01 34 days 1,724 sqft
2022-03-01 32 days 1,662 sqft
2022-04-01 30 days 1,701 sqft
Eugene's median listing age (time on market) for 2022-04-01 was 30 days. This is -22% shorter than the same period one year ago.

Eugene's median square footage for active listings during the 2022-04-01 period was 1,701 sqft. One year prior, the average listing was 1,633 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.