Eureka VA Loan Rates, Closing Costs & Stats

Eureka-Arcata, CA

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.

Eureka's 55 lenders originated 255 VA loans during 2021. The total origination value was $81,725,000, with an average VA loan value of $320,490.

Eureka VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Eureka averaged 6.53% for the week of 2023-03-17, compared to the national average (all VA variants) of 6.138% for the same period.

Eureka's average VA mortgage closing costs are $5,957.

The average rate for the prior week (2023-03-10) was 6.61% and one month ago for the week of 2023-02-10, the average rate was 6.43%.

The average rate one year ago was 4.23%.

For refis of the same type during the week of 2023-03-17, the average rate was 6.37%.

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

Eureka 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 Eureka level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
CALIBER HOME LOANS, INC. 22 2.48% $7,853
FREEDOM MORTGAGE CORPORATION 21 2.43% $2,328
QUICKEN LOANS, LLC 16 2.41% $2,175
UNITED WHOLESALE MORTGAGE, LLC 14 2.52% $3,718
PENNYMAC LOAN SERVICES, LLC 13 2.27% $6,075
Mortgage Research Center, LLC 13 2.81% $7,658
FINANCE OF AMERICA MORTGAGE LLC 12 2.47% $3,425
Umpqua Bank 9 2.50% $9,061
LOANDEPOT.COM, LLC 6 2.29% $3,528
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 3.15% $7,840
LAKEVIEW LOAN SERVICING, LLC 5 2.40% $3,382
VILLAGE CAPITAL MORTGAGE 5 2.25% $3,505
CLEARPATH LENDING 4 2.38% $4,457
USAA Federal Savings Bank 4 3.22% $5,177
NEW DAY FINANCIAL, LLC 4 2.94% $7,486
NAVY FEDERAL CREDIT UNION 4 2.38% $3,874
AMERICAN PACIFIC MORTGAGE CORPORATION 3 2.50% $3,247
SUMMIT FUNDING, INC. 3 2.62% $7,377
Mr. Cooper ( Nationstar Mortgage ) 3 2.63% $4,371
Wells Fargo Bank 3 2.67% $6,164
InterContinental Capital Group, Inc 3 2.50% $3,275
Florida Capital Bank 2 2.44% $14,054
NP, Inc. 2 2.38% $5,649
Carrington Mortgage Services, LLC 2 3.19% $4,096
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 2.75% $4,553
PENTAGON FEDERAL CREDIT UNION 2 2.56% $9,472
AMERICAN FINANCIAL NETWORK, INC. 2 2.94% $16,493
The Federal Savings Bank 2 2.50% $9,378
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.25% $5,964
Texana Bank 1 2.25% $3,401
ACCELERATE MORTGAGE, LLC 1 2.25% $2,343
Barrington Bank & Trust Company, N.A. 1 2.50% $8,469
BROKER SOLUTIONS, INC. 1 2.25% $2,245
COASTAL FUNDING SLC, INC. 1 3.00% $644
Commerce Home Mortgage, Inc. 1 2.75% $3,576
EMBRACE HOME LOANS, INC. 1 2.25% $1,123
GUARANTEED RATE, INC. 1 2.50% $4,010
HOME POINT FINANCIAL CORPORATION 1 2.25% $1,930
HomePromise Corporation 1 3.25% $25,187
LADERA LENDING, INC. 1 2.75% $2,760
Lakeview Community Capital, LLC 1 2.38% $1,535
LENDING 3, INC. 1 2.63% $11,667
Magnolia Bank 1 2.25% $7,286
MORTGAGEONE, INC. 1 2.38% $4,269
MOVEMENT MORTGAGE, LLC 1 2.50% $2,570
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.25% $3,362
NEWREZ LLC 1 2.25% $11,335
NOVA FINANCIAL & INVESTMENT CORPORATION 1 2.25% $964
OCMBC, INC. 1 2.25% $2,579
PLANET HOME LENDING, LLC 1 2.75% $2,667
PLAZA HOME MORTGAGE, INC. 1 2.99% $16,500
Prime Choice Funding Inc. 1 3.00% $19,759
RANLIFE, INC. 1 2.88% $5,651
SUN WEST MORTGAGE COMPANY, INC. 1 2.25% $2,210
ACADEMY MORTGAGE CORPORATION 1 2.75% $24,173

The top Eureka VA lender as defined by loan originations is CALIBER HOME LOANS, INC., with 22 VA loans originated. Their average total fees are $7,853, which is $5,525 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee Eureka VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($2,175), FREEDOM MORTGAGE CORPORATION ($2,328), FINANCE OF AMERICA MORTGAGE LLC ($3,425), UNITED WHOLESALE MORTGAGE, LLC ($3,718) and PENNYMAC LOAN SERVICES, LLC ($6,075).

The lowest rate Eureka VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.27%), QUICKEN LOANS, LLC (2.41%), FREEDOM MORTGAGE CORPORATION (2.43%), FINANCE OF AMERICA MORTGAGE LLC (2.47%) and CALIBER HOME LOANS, INC. (2.48%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Eureka (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 $425,000 (13.3%) $633,125 (6.6%) 1.58 339
2018-02-01 $425,000 (13.3%) $626,199 (-7.3%) 1.54 358
2018-03-01 $425,000 (8.0%) $611,703 (-0.8%) 1.49 378
2018-04-01 $425,000 (11.9%) $588,837 (-6.5%) 1.44 386
2018-05-01 $421,000 (5.5%) $555,169 (-22.9%) 1.41 439
2018-06-01 $399,000 (-0.9%) $553,938 (-17.9%) 1.33 492
2018-07-01 $394,250 (-1.4%) $547,116 (-11.6%) 1.32 491
2018-08-01 $395,000 (0.8%) $543,422 (-3.3%) 1.32 510
2018-09-01 $389,900 (0.0%) $539,610 (-6.4%) 1.31 507
2018-10-01 $377,250 (-5.3%) $529,419 (-8.9%) 1.27 492
2018-11-01 $382,425 (-4.2%) $530,496 (-7.3%) 1.30 474
2018-12-01 $379,000 (-5.0%) $529,875 (-11.5%) 1.31 427
2019-01-01 $376,625 (-11.4%) $526,483 (-16.8%) 1.30 375
2019-02-01 $369,000 (-13.2%) $514,051 (-17.9%) 1.25 380
2019-03-01 $375,857 (-11.6%) $528,520 (-13.6%) 1.23 377
2019-04-01 $385,875 (-9.2%) $544,616 (-7.5%) 1.23 381
2019-05-01 $397,000 (-5.7%) $548,403 (-1.2%) 1.24 399
2019-06-01 $395,000 (-1.0%) $542,476 (-2.1%) 1.23 432
2019-07-01 $389,450 (-1.2%) $542,150 (-0.9%) 1.22 445
2019-08-01 $383,818 (-2.8%) $538,868 (-0.8%) 1.21 441
2019-09-01 $376,045 (-3.6%) $527,831 (-2.2%) 1.20 421
2019-10-01 $370,000 (-1.9%) $515,039 (-2.7%) 1.19 401
2019-11-01 $368,863 (-3.6%) $502,823 (-5.2%) 1.21 365
2019-12-01 $360,463 (-4.9%) $503,476 (-5.0%) 1.20 324
2020-01-01 $354,500 (-5.9%) $486,348 (-7.6%) 1.18 286
2020-02-01 $350,000 (-5.2%) $506,868 (-1.4%) 1.14 266
2020-03-01 $352,500 (-6.2%) $499,384 (-5.5%) 1.10 274
2020-04-01 $360,475 (-6.6%) $495,289 (-9.1%) 1.13 270
2020-05-01 $357,000 (-10.1%) $485,619 (-11.5%) 1.09 269
2020-06-01 $377,500 (-4.4%) $581,452 (7.2%) 1.11 235
2020-07-01 $379,000 (-2.7%) $622,921 (14.9%) 1.10 217
2020-08-01 $399,250 (4.0%) $641,777 (19.1%) 1.14 210
2020-09-01 $399,375 (6.2%) $659,244 (24.9%) 1.14 188
2020-10-01 $425,000 (14.9%) $684,059 (32.8%) 1.22 162
2020-11-01 $422,225 (14.5%) $691,846 (37.6%) 1.23 171
2020-12-01 $428,225 (18.8%) $685,903 (36.2%) 1.27 132
2021-01-01 $425,000 (19.9%) $698,426 (43.6%) 1.27 115
2021-02-01 $428,250 (22.4%) $771,500 (52.2%) 1.24 103
2021-03-01 $427,450 (21.3%) $732,215 (46.6%) 1.21 110
2021-04-01 $444,475 (23.3%) $704,625 (42.3%) 1.20 124
2021-05-01 $429,900 (20.4%) $674,760 (39.0%) 1.13 133
2021-06-01 $434,100 (15.0%) $710,684 (22.2%) 1.14 149
2021-07-01 $449,000 (18.5%) $725,572 (16.5%) 1.18 158
2021-08-01 $449,750 (12.7%) $724,320 (12.9%) 1.19 175
2021-09-01 $470,475 (17.8%) $753,658 (14.3%) 1.25 165
2021-10-01 $493,000 (16.0%) $776,367 (13.5%) 1.31 168
2021-11-01 $519,500 (23.0%) $819,265 (18.4%) 1.39 169
2021-12-01 $499,000 (16.5%) $775,383 (13.1%) 1.35 171
2022-01-01 $519,000 (22.1%) $833,508 (19.3%) 1.40 158
2022-02-01 $524,500 (22.5%) $834,024 (8.1%) 1.36 164
2022-03-01 $544,750 (27.4%) $803,673 (9.8%) 1.36 175
2022-04-01 $549,500 (23.6%) $812,289 (15.3%) 1.31 188
2022-05-01 $539,609 (25.5%) $791,898 (17.4%) 1.23 233
2022-06-01 $532,484 (22.7%) $755,962 (6.4%) 1.19 275
2022-07-01 $499,000 (11.1%) $679,627 (-6.3%) 1.12 329
2022-08-01 $498,000 (10.7%) $667,642 (-7.8%) 1.15 324
2022-09-01 $499,500 (6.2%) $663,296 (-12.0%) 1.16 325
2022-10-01 $495,000 (0.4%) $646,637 (-16.7%) 1.16 341
2022-11-01 $486,500 (-6.4%) $637,263 (-22.2%) 1.17 332
2022-12-01 $489,000 (-2.0%) $641,715 (-17.2%) 1.21 317
2023-01-01 $478,000 (-7.9%) $627,962 (-24.7%) 1.18 272
2023-02-01 $468,725 (-10.6%) $616,553 (-26.1%) 1.13 263
Eureka's median listing price for 2023-02-01 was $468,725, a difference of $-55,775 (-10.6%) versus the prior year and $-9,275 versus the prior month.

Eureka's median listing price comes in at 113% of the national average.

Eureka's average listing price for 2023-02-01 was $616,553, a difference of $-217,471 (-26.1%) versus the prior year and $-11,409 versus the prior month.

For the 2023-02-01 period, Eureka had 263 MLS listings, a difference of -9 listings (-3%) versus the prior month and 99 listings (60%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Eureka (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 80 days 1,552 sqft
2018-02-01 79 days 1,553 sqft
2018-03-01 70 days 1,556 sqft
2018-04-01 70 days 1,583 sqft
2018-05-01 62 days 1,566 sqft
2018-06-01 66 days 1,571 sqft
2018-07-01 75 days 1,593 sqft
2018-08-01 80 days 1,602 sqft
2018-09-01 90 days 1,600 sqft
2018-10-01 91 days 1,583 sqft
2018-11-01 96 days 1,594 sqft
2018-12-01 98 days 1,597 sqft
2019-01-01 96 days 1,580 sqft
2019-02-01 97 days 1,530 sqft
2019-03-01 86 days 1,559 sqft
2019-04-01 70 days 1,600 sqft
2019-05-01 60 days 1,618 sqft
2019-06-01 60 days 1,600 sqft
2019-07-01 70 days 1,629 sqft
2019-08-01 77 days 1,587 sqft
2019-09-01 82 days 1,567 sqft
2019-10-01 85 days 1,553 sqft
2019-11-01 94 days 1,553 sqft
2019-12-01 98 days 1,538 sqft
2020-01-01 87 days 1,495 sqft
2020-02-01 82 days 1,500 sqft
2020-03-01 59 days 1,506 sqft
2020-04-01 73 days 1,574 sqft
2020-05-01 70 days 1,550 sqft
2020-06-01 71 days 1,597 sqft
2020-07-01 53 days 1,639 sqft
2020-08-01 44 days 1,658 sqft
2020-09-01 40 days 1,651 sqft
2020-10-01 50 days 1,789 sqft
2020-11-01 44 days 1,697 sqft
2020-12-01 63 days 1,682 sqft
2021-01-01 71 days 1,624 sqft
2021-02-01 43 days 1,659 sqft
2021-03-01 21 days 1,680 sqft
2021-04-01 20 days 1,631 sqft
2021-05-01 23 days 1,600 sqft
2021-06-01 21 days 1,546 sqft
2021-07-01 31 days 1,515 sqft
2021-08-01 32 days 1,461 sqft
2021-09-01 32 days 1,500 sqft
2021-10-01 32 days 1,540 sqft
2021-11-01 41 days 1,553 sqft
2021-12-01 62 days 1,500 sqft
2022-01-01 75 days 1,540 sqft
2022-02-01 66 days 1,595 sqft
2022-03-01 50 days 1,591 sqft
2022-04-01 45 days 1,600 sqft
2022-05-01 44 days 1,594 sqft
2022-06-01 44 days 1,600 sqft
2022-07-01 45 days 1,533 sqft
2022-08-01 54 days 1,513 sqft
2022-09-01 68 days 1,546 sqft
2022-10-01 68 days 1,513 sqft
2022-11-01 75 days 1,537 sqft
2022-12-01 92 days 1,515 sqft
2023-01-01 102 days 1,507 sqft
2023-02-01 101 days 1,518 sqft
Eureka's median listing age (time on market) for 2023-02-01 was 101 days. This is 52% longer than the same period one year ago.

Eureka's median square footage for active listings during the 2023-02-01 period was 1,518 sqft. One year prior, the average listing was 1,595 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.