Grants Pass VA Loan Rates, Closing Costs & Stats

GRANTS PASS, OR

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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 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.

    Grants Pass's 34 lenders originated 111 VA loans during 2023. The total origination value was $42,995,000, with an average VA loan value of $387,342.

    Grants Pass VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Grants Pass averaged 6.35% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Grants Pass's average VA mortgage closing costs are $6,740.

    The average rate for the prior week (2024-11-01) was 6.51% and one month ago for the week of 2024-10-04, the average rate was 6.04%.

    The average rate one year ago was 7.49%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.54%.

    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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Grants Pass level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 15 6.48% $7,706
    QUICKEN LOANS, LLC 14 5.61% $13,821
    Nations Lending Corporation 9 6.57% $5,153
    UNITED WHOLESALE MORTGAGE, LLC 6 6.05% $5,058
    Willamette Valley Bank 5 6.60% $12,369
    CROSSCOUNTRY MORTGAGE, LLC 5 6.63% $12,729
    The Federal Savings Bank 4 6.53% $19,396
    ROGUE 4 6.38% $10,483
    GUILD MORTGAGE COMPANY 4 7.00% $15,127
    MOUNTAIN WEST FINANCIAL, INC. 4 6.06% $20,650
    VILLAGE CAPITAL MORTGAGE 3 6.25% $12,057
    NAVY FEDERAL CREDIT UNION 3 5.38% $7,054
    USAA Federal Savings Bank 3 6.58% $12,070
    NATIONS DIRECT MORTGAGE, LLC 3 6.25% $12,032
    NEWREZ LLC 2 6.94% $9,072
    Equity Prime Mortgage LLC 2 7.19% $8,052
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.06% $6,374
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.94% $15,699
    PENNYMAC LOAN SERVICES, LLC 2 6.13% $8,157
    Wells Fargo Bank 2 6.31% $13,756
    PENTAGON FEDERAL CREDIT UNION 1 4.75% $1,962
    PLAZA HOME MORTGAGE, INC. 1 6.13% $10,537
    AMERISAVE MORTGAGE CORPORATION 1 4.88% $13,220
    Mr. Cooper ( Nationstar Mortgage ) 1 6.63% $15,505
    S1L, Inc. 1 6.25% $11,743
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $0
    Umpqua Bank 1 5.88% $36,267
    GENEVA FINANCIAL, LLC 1 7.13% $6,485
    FREEDOM MORTGAGE CORPORATION 1 7.25% $17,778
    U.S. Bank 1 6.13% $16,044
    EMM LOANS LLC 1 6.75% $20,167
    V.I.P. MORTGAGE, INC. 1 5.50% $1,913
    Paramount Residential Mortgage Group, Inc. 1 6.25% $6,358
    Century Mortgage Company DBA Century Lending Company 1 5.50% $6,464

    The top Grants Pass VA lender as defined by loan originations is Mortgage Research Center, LLC, with 15 VA loans originated. Their average total fees are $7,706, which is $6,116 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Grants Pass VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,706), QUICKEN LOANS, LLC ($13,821), .

    The lowest rate Grants Pass VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.61%), Mortgage Research Center, LLC (6.48%), .

    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.