Grants Pass VA Loans

GRANTS PASS, 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.

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.