Grants Pass VA Loans

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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 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.

    Grants Pass's 76 lenders originated 602 VA loans during 2021. The total origination value was $183,840,000, with an average VA loan value of $305,382.

    Grants Pass VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Grants Pass averaged 5.28% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.31% and one month ago for the week of 2022-04-08, the average rate was 5.13%.

    The average rate one year ago was 3.15%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.27%.

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

    Grants Pass 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 Grants Pass level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    FREEDOM MORTGAGE CORPORATION 45 2.37% $3,031
    CALIBER HOME LOANS, INC. 44 2.57% $6,049
    QUICKEN LOANS, LLC 42 2.45% $5,425
    GUILD MORTGAGE COMPANY 36 2.60% $8,758
    Mortgage Research Center, LLC 33 2.77% $5,749
    Umpqua Bank 33 2.90% $4,377
    LOANDEPOT.COM, LLC 31 2.44% $5,260
    ROGUE 20 2.77% $5,847
    The Federal Savings Bank 18 2.47% $9,453
    Willamette Valley Bank 17 2.75% $6,911
    UNITED WHOLESALE MORTGAGE, LLC 15 2.40% $4,940
    PENNYMAC LOAN SERVICES, LLC 14 2.41% $6,159
    CHERRY CREEK MORTGAGE, LLC 14 2.54% $9,366
    Mr. Cooper ( Nationstar Mortgage ) 13 3.00% $3,979
    NEW DAY FINANCIAL, LLC 12 2.52% $8,302
    LAKEVIEW LOAN SERVICING, LLC 11 2.40% $5,006
    Low VA Rates, LLC 9 2.60% $3,677
    MOUNTAIN WEST FINANCIAL, INC. 9 2.68% $6,925
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 8 2.77% $6,690
    S1L, Inc. 7 2.99% $7,475
    USAA Federal Savings Bank 6 2.71% $4,932
    Wells Fargo Bank 6 2.52% $7,560
    InterContinental Capital Group, Inc 5 2.40% $6,903
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 5 3.22% $6,071
    People's Bank of Commerce 4 2.53% $5,440
    AMERISAVE MORTGAGE CORPORATION 4 2.78% $8,123
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 3.06% $2,627
    Barrington Bank & Trust Company, N.A. 4 2.84% $6,106
    HOME POINT FINANCIAL CORPORATION 4 2.34% $4,707
    AMERICAN FINANCIAL NETWORK, INC. 4 2.47% $8,671
    NATIONS DIRECT MORTGAGE, LLC 3 2.67% $7,990
    VILLAGE CAPITAL & INVESTMENT LLC 3 2.25% $3,770
    PLANET HOME LENDING, LLC 3 2.38% $3,776
    U.S. Bank 3 2.46% $7,627
    Magnolia Bank 3 2.33% $9,693
    North American Savings Bank, F.S.B. 3 2.25% $1,770
    ACCELERATE MORTGAGE, LLC 2 2.00% $6,257
    BROKER SOLUTIONS, INC. 2 2.50% $10,964
    Carrington Mortgage Services, LLC 2 3.81% $2,375
    CLEARPATH LENDING 2 2.25% $3,759
    CROSSCOUNTRY MORTGAGE, LLC 2 3.38% $5,697
    EMBRACE HOME LOANS, INC. 2 2.94% $17,156
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.25% $4,396
    NAVY FEDERAL CREDIT UNION 2 2.38% $10,909
    NP, Inc. 2 2.25% $4,585
    SOVEREIGN LENDING GROUP INCORPORATED 2 2.69% $18,817
    SUN WEST MORTGAGE COMPANY, INC. 2 2.50% $6,532
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 2.25% $3,065
    Banner Bank 1 2.88% $3,015
    OCEANSIDE MORTGAGE COMPANY 1 2.75% $1,153
    OCMBC, INC. 1 2.88% $4,180
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 3.13% $24,725
    Paramount Residential Mortgage Group, Inc. 1 2.75% $3,013
    MOVEMENT MORTGAGE, LLC 1 2.75% $20,429
    PENTAGON FEDERAL CREDIT UNION 1 2.38% $0
    Meridian Bank Corporation 1 2.25% $5,760
    Plains Commerce Bank 1 2.63% $6,058
    LOANPAL, LLC 1 2.38% $7,731
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 2.75% $4,882
    GUARANTEED RATE, INC. 1 2.25% $4,321
    RELIANCE FIRST CAPITAL, LLC 1 2.88% $5,610
    First Guaranty Mortgage Corporation 1 2.25% $4,421
    First Federal Bank of Kansas City 1 2.25% $2,110
    Bank of England 1 2.75% $4,845
    STEARNS LENDING, LLC 1 2.25% $4,393
    Strong Home Mortgage, LLC 1 2.25% $17,418
    SUMMIT FUNDING, INC. 1 3.13% $11,297
    AMERICAN FINANCIAL RESOURCES, INC. 1 3.25% $11,201
    DRAPER AND KRAMER MORTGAGE CORP. 1 2.75% $24,050
    Commerce Home Mortgage, Inc. 1 2.25% $4,341
    CHURCHILL MORTGAGE CORPORATION 1 2.38% $4,161
    BNC National Bank 1 2.25% $3,046
    BELEM SERVICING LLC 1 2.63% $569
    Nations Lending Corporation 1 2.75% $13,387
    NEWREZ LLC 1 2.88% $4,693
    MUTUAL OF OMAHA MORTGAGE, INC. 1 3.13% $10,918

    The top Grants Pass VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 45 VA loans originated. Their average total fees are $3,031, which is $3,018 lower than the next largest lender, CALIBER HOME LOANS, INC..

    The lowest fee Grants Pass VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($3,031), Mr. Cooper ( Nationstar Mortgage ) ($3,979), Umpqua Bank ($4,377), UNITED WHOLESALE MORTGAGE, LLC ($4,940) and LAKEVIEW LOAN SERVICING, LLC ($5,006).

    The lowest rate Grants Pass VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION (2.37%), LAKEVIEW LOAN SERVICING, LLC (2.40%), UNITED WHOLESALE MORTGAGE, LLC (2.40%), PENNYMAC LOAN SERVICES, LLC (2.41%) and LOANDEPOT.COM, LLC (2.44%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Grants Pass (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 $359,900 (7.4%) $557,935 (11.4%) 0.00 401
    2018-02-01 $370,750 (10.8%) $560,148 (12.4%) 0.00 406
    2018-03-01 $372,000 (11.2%) $534,248 (8.1%) 0.00 445
    2018-04-01 $367,000 (-0.5%) $524,116 (-1.4%) 0.00 497
    2018-05-01 $367,000 (-3.3%) $520,462 (-4.0%) 0.00 528
    2018-06-01 $359,900 (-4.0%) $510,375 (-4.1%) 0.00 581
    2018-07-01 $359,000 (-2.7%) $500,320 (-6.4%) 0.00 596
    2018-08-01 $359,000 (-1.5%) $501,548 (-7.4%) 0.00 577
    2018-09-01 $350,000 (-2.5%) $510,633 (-5.0%) 0.00 596
    2018-10-01 $350,000 (0.1%) $524,143 (-2.5%) 0.00 557
    2018-11-01 $349,950 (-0.7%) $527,594 (-3.7%) 0.00 536
    2018-12-01 $350,000 (-5.2%) $532,681 (-6.1%) 0.00 501
    2019-01-01 $342,000 (-5.0%) $533,806 (-4.3%) 0.00 458
    2019-02-01 $344,500 (-7.1%) $539,152 (-3.8%) 0.00 445
    2019-03-01 $362,857 (-2.5%) $551,294 (3.2%) 0.00 428
    2019-04-01 $369,057 (0.6%) $541,091 (3.2%) 0.00 433
    2019-05-01 $369,450 (0.7%) $530,910 (2.0%) 0.00 495
    2019-06-01 $385,000 (7.0%) $537,304 (5.3%) 0.00 481
    2019-07-01 $378,250 (5.4%) $534,476 (6.8%) 0.00 478
    2019-08-01 $378,000 (5.3%) $529,417 (5.6%) 0.00 455
    2019-09-01 $378,500 (8.1%) $530,084 (3.8%) 0.00 423
    2019-10-01 $378,500 (8.1%) $524,691 (0.1%) 0.00 414
    2019-11-01 $399,500 (14.2%) $566,836 (7.4%) 0.00 363
    2019-12-01 $405,000 (15.7%) $592,970 (11.3%) 0.00 319
    2020-01-01 $418,000 (22.2%) $607,611 (13.8%) 0.00 286
    2020-02-01 $399,500 (16.0%) $586,099 (8.7%) 0.00 283
    2020-03-01 $392,000 (8.0%) $532,946 (-3.3%) 0.00 295
    2020-04-01 $379,000 (2.7%) $504,969 (-6.7%) 0.00 321
    2020-05-01 $421,000 (14.0%) $565,982 (6.6%) 0.00 286
    2020-06-01 $439,000 (14.0%) $554,913 (3.3%) 0.00 237
    2020-07-01 $459,700 (21.5%) $561,705 (5.1%) 0.00 204
    2020-08-01 $475,000 (25.7%) $593,639 (12.1%) 0.00 174
    2020-09-01 $433,500 (14.5%) $549,000 (3.6%) 0.00 168
    2020-10-01 $408,000 (7.8%) $544,575 (3.8%) 0.00 143
    2020-11-01 $439,000 (9.9%) $552,916 (-2.5%) 0.00 131
    2020-12-01 $415,000 (2.5%) $522,493 (-11.9%) 0.00 116
    2021-01-01 $399,000 (-4.6%) $524,157 (-13.7%) 0.00 90
    2021-02-01 $380,950 (-4.6%) $489,634 (-16.5%) 0.00 87
    2021-03-01 $392,475 (0.1%) $502,168 (-5.8%) 0.00 103
    2021-04-01 $444,950 (17.4%) $569,307 (12.7%) 0.00 109
    2021-05-01 $499,900 (18.7%) $611,450 (8.0%) 0.00 131
    2021-06-01 $559,450 (27.4%) $651,091 (17.3%) 0.00 160
    2021-07-01 $525,000 (14.2%) $616,489 (9.8%) 0.00 188
    2021-08-01 $522,000 (9.9%) $614,002 (3.4%) 0.00 240
    2021-09-01 $509,500 (17.5%) $625,523 (13.9%) 0.00 249
    2021-10-01 $510,000 (25.0%) $628,370 (15.4%) 0.00 261
    2021-11-01 $499,000 (13.7%) $611,020 (10.5%) 0.00 246
    2021-12-01 $499,450 (20.4%) $603,156 (15.4%) 0.00 226
    2022-01-01 $489,900 (22.8%) $589,562 (12.5%) 0.00 191
    2022-02-01 $487,450 (28.0%) $608,382 (24.3%) 0.00 191
    2022-03-01 $499,500 (27.3%) $615,756 (22.6%) 0.00 226
    2022-04-01 $499,000 (12.2%) $617,947 (8.5%) 0.00 268
    Grants Pass's median listing price for 2022-04-01 was $499,000, a difference of $54,050 (12.2%) versus the prior year and $-500 versus the prior month.

    Grants Pass's median listing price comes in at 0% of the national average.

    Grants Pass's average listing price for 2022-04-01 was $617,947, a difference of $48,640 (8.5%) versus the prior year and $2,191 versus the prior month.

    For the 2022-04-01 period, Grants Pass had 268 MLS listings, a difference of 42 listings (19%) versus the prior month and 159 listings (146%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Grants Pass (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,825 sqft
    2018-02-01 0 days 1,900 sqft
    2018-03-01 0 days 1,831 sqft
    2018-04-01 0 days 1,812 sqft
    2018-05-01 0 days 1,836 sqft
    2018-06-01 0 days 1,848 sqft
    2018-07-01 0 days 1,830 sqft
    2018-08-01 0 days 1,811 sqft
    2018-09-01 0 days 1,782 sqft
    2018-10-01 0 days 1,792 sqft
    2018-11-01 0 days 1,798 sqft
    2018-12-01 0 days 1,821 sqft
    2019-01-01 0 days 1,798 sqft
    2019-02-01 0 days 1,782 sqft
    2019-03-01 0 days 1,823 sqft
    2019-04-01 0 days 1,838 sqft
    2019-05-01 0 days 1,866 sqft
    2019-06-01 0 days 1,924 sqft
    2019-07-01 0 days 1,902 sqft
    2019-08-01 0 days 1,912 sqft
    2019-09-01 0 days 1,920 sqft
    2019-10-01 0 days 1,898 sqft
    2019-11-01 0 days 1,926 sqft
    2019-12-01 0 days 1,969 sqft
    2020-01-01 0 days 1,976 sqft
    2020-02-01 0 days 1,919 sqft
    2020-03-01 0 days 1,883 sqft
    2020-04-01 0 days 1,842 sqft
    2020-05-01 0 days 2,040 sqft
    2020-06-01 0 days 2,139 sqft
    2020-07-01 0 days 2,248 sqft
    2020-08-01 0 days 2,127 sqft
    2020-09-01 0 days 1,970 sqft
    2020-10-01 0 days 1,954 sqft
    2020-11-01 0 days 1,923 sqft
    2020-12-01 0 days 1,850 sqft
    2021-01-01 0 days 1,817 sqft
    2021-02-01 0 days 1,695 sqft
    2021-03-01 0 days 1,739 sqft
    2021-04-01 0 days 1,817 sqft
    2021-05-01 0 days 1,844 sqft
    2021-06-01 0 days 1,928 sqft
    2021-07-01 0 days 1,847 sqft
    2021-08-01 0 days 1,851 sqft
    2021-09-01 0 days 1,891 sqft
    2021-10-01 0 days 1,867 sqft
    2021-11-01 0 days 1,818 sqft
    2021-12-01 0 days 1,821 sqft
    2022-01-01 0 days 1,765 sqft
    2022-02-01 0 days 1,788 sqft
    2022-03-01 0 days 1,737 sqft
    2022-04-01 0 days 1,700 sqft
    Grants Pass's median listing age (time on market) for 2022-04-01 was 0 days.

    Grants Pass's median square footage for active listings during the 2022-04-01 period was 1,700 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.