Hanford VA Loan Rates, Closing Costs & Stats

HANFORD-CORCORAN, CA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Hanford's 49 lenders originated 328 VA loans during 2023. The total origination value was $124,190,000, with an average VA loan value of $378,628.

    Hanford VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Hanford averaged 6.2% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Hanford's average VA mortgage closing costs are $7,238.

    The average rate for the prior week (2024-11-01) was 6.16% and one month ago for the week of 2024-10-04, the average rate was 5.79%.

    The average rate one year ago was 7.54%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.24%.

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

    Hanford 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 Hanford level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 49 6.22% $11,779
    Mortgage Research Center, LLC 47 6.57% $9,458
    NAVY FEDERAL CREDIT UNION 27 5.96% $8,480
    ALAMEDA MORTGAGE CORPORATION 24 6.58% $16,857
    QUICKEN LOANS, LLC 24 6.13% $11,701
    EAGLE HOME MORTGAGE, LLC 22 5.78% $9,350
    AMERICAN PACIFIC MORTGAGE CORPORATION 16 6.76% $12,315
    CROSSCOUNTRY MORTGAGE, LLC 14 6.27% $15,364
    FREEDOM MORTGAGE CORPORATION 12 6.20% $16,195
    OCMBC, INC. 9 5.96% $9,908
    PENNYMAC LOAN SERVICES, LLC 8 5.53% $11,315
    VILLAGE CAPITAL MORTGAGE 6 5.69% $7,890
    CARDINAL FINANCIAL 4 6.31% $15,538
    Mr. Cooper ( Nationstar Mortgage ) 4 6.72% $8,962
    NEW DAY FINANCIAL, LLC 4 7.81% $12,792
    U.S. Bank 3 6.17% $15,043
    INSPIRE HOME LOANS INC. 3 5.54% $11,036
    NATIONS DIRECT MORTGAGE, LLC 2 6.88% $12,096
    AMERICAN FINANCIAL NETWORK, INC. 2 5.81% $10,738
    BROKER SOLUTIONS, INC. 2 6.25% $14,880
    Century Mortgage Company DBA Century Lending Company 2 5.94% $19,317
    GUARANTEED RATE, INC. 2 6.56% $6,394
    LOANDEPOT.COM, LLC 2 6.56% $16,746
    LOANPAL, LLC 2 6.00% $14,492
    NEWREZ LLC 2 6.75% $15,730
    PLANET HOME LENDING, LLC 2 6.38% $6,707
    SUN WEST MORTGAGE COMPANY, INC. 2 6.25% $6,841
    The Federal Savings Bank 2 6.25% $18,772
    USAA Federal Savings Bank 2 5.81% $16,479
    VERITAS FUNDING, LLC 2 5.88% $12,514
    GUILD MORTGAGE COMPANY 1 6.38% $11,939
    Flagstar Bank, FSB 1 5.38% $9,508
    First Federal Bank 1 6.25% $10,013
    Barrington Bank & Trust Company, N.A. 1 5.75% $3,576
    COASTAL FUNDING SLC, INC. 1 5.75% $13,103
    Paramount Residential Mortgage Group, Inc. 1 7.25% $5,824
    CMG MORTGAGE, INC. 1 6.75% $9,566
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.88% $16,430
    PLAZA HOME MORTGAGE, INC. 1 6.75% $27,550
    BNC National Bank 1 5.25% $11,454
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $10,375
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $26,272
    LEADERONE FINANCIAL CORPORATION 1 5.75% $9,954
    Wells Fargo Bank 1 5.50% $9,880
    TOP FLITE FINANCIAL, INC. 1 6.75% $12,871
    Magnolia Bank 1 7.25% $17,321
    HOMESIDE FINANCIAL, LLC 1 6.99% $18,184
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.25% $0
    HOME FUNDING CORPORATION 1 7.75% $9,095

    The top Hanford VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 49 VA loans originated. Their average total fees are $11,779, which is $2,321 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Hanford VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($8,480), EAGLE HOME MORTGAGE, LLC ($9,350), Mortgage Research Center, LLC ($9,458), QUICKEN LOANS, LLC ($11,701) and UNITED WHOLESALE MORTGAGE, LLC ($11,779).

    The lowest rate Hanford VA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.78%), NAVY FEDERAL CREDIT UNION (5.96%), QUICKEN LOANS, LLC (6.13%), FREEDOM MORTGAGE CORPORATION (6.20%) and UNITED WHOLESALE MORTGAGE, LLC (6.22%).

    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.