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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.