Hermiston VA Loan Rates, Closing Costs & Stats

Hermiston-Pendleton, 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 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.

Hermiston's 32 lenders originated 130 VA loans during 2023. The total origination value was $39,590,000, with an average VA loan value of $304,538.

Hermiston VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Hermiston averaged 6.78% for the week of 2024-05-17, compared to the national average (all VA variants) of 6.502% for the same period.

Hermiston's average VA mortgage closing costs are $6,625.

The average rate for the prior week (2024-05-10) was 6.79% and one month ago for the week of 2024-04-12, the average rate was 6.77%.

The average rate one year ago was 6.28%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.3%.

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

Hermiston 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 Hermiston level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
GUILD MORTGAGE COMPANY 19 6.78% $11,403
Mortgage Research Center, LLC 18 6.71% $4,056
QUICKEN LOANS, LLC 12 5.75% $12,653
ACADEMY MORTGAGE CORPORATION 11 6.41% $12,488
FREEDOM MORTGAGE CORPORATION 6 6.85% $11,821
AMERICAN PACIFIC MORTGAGE CORPORATION 6 6.77% $13,046
CMG MORTGAGE, INC. 5 6.35% $14,035
Umpqua Bank 4 6.00% $12,540
LOANDEPOT.COM, LLC 3 6.17% $17,356
Banner Bank 3 5.71% $10,248
NEW DAY FINANCIAL, LLC 3 7.50% $11,821
PREMIER MORTGAGE RESOURCES, L.L.C. 3 6.92% $14,712
The Federal Savings Bank 3 6.08% $17,308
UNITED WHOLESALE MORTGAGE, LLC 3 6.95% $7,989
CROSSCOUNTRY MORTGAGE, LLC 2 7.25% $12,224
NATIONS DIRECT MORTGAGE, LLC 2 6.44% $16,538
NAVY FEDERAL CREDIT UNION 2 6.00% $7,172
USAA Federal Savings Bank 2 6.50% $4,208
CANOPY MORTGAGE, LLC 1 6.88% $18,347
Paramount Residential Mortgage Group, Inc. 1 6.50% $10,223
PENNYMAC LOAN SERVICES, LLC 1 5.25% $9,065
AMERICAN FINANCING CORPORATION 1 6.63% $9,619
AXIA FINANCIAL, LLC 1 7.25% $18,607
RANLIFE, INC. 1 6.50% $8,400
SUMMIT FUNDING, INC. 1 6.63% $1,960
Cornerstone First Mortgage, Inc 1 6.63% $15,621
CHURCHILL MORTGAGE CORPORATION 1 7.00% $19,009
IDAHO CENTRAL 1 6.63% $15,585
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.25% $5,587
LEADERONE FINANCIAL CORPORATION 1 6.25% $14,512
CARDINAL FINANCIAL 1 5.63% $5,431
LPMC, LLC 1 6.13% $4,029

The top Hermiston VA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 19 VA loans originated. Their average total fees are $11,403, which is $7,347 higher than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Hermiston VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,056), GUILD MORTGAGE COMPANY ($11,403), ACADEMY MORTGAGE CORPORATION ($12,488), QUICKEN LOANS, LLC ($12,653) and .

The lowest rate Hermiston VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.75%), ACADEMY MORTGAGE CORPORATION (6.41%), Mortgage Research Center, LLC (6.71%), GUILD MORTGAGE COMPANY (6.78%) and .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Hermiston (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 $202,975 (-3.3%) $580,224 (-9.6%) 0.00 179
2018-02-01 $229,900 (22.7%) $598,489 (-2.7%) 0.00 178
2018-03-01 $231,974 (21.0%) $618,722 (-0.3%) 0.00 186
2018-04-01 $234,875 (18.0%) $622,898 (-1.0%) 0.00 187
2018-05-01 $245,350 (9.7%) $618,388 (-2.2%) 0.00 195
2018-06-01 $245,000 (15.3%) $570,213 (-1.8%) 0.00 214
2018-07-01 $238,094 (13.9%) $579,057 (-5.4%) 0.00 207
2018-08-01 $233,125 (13.7%) $587,406 (-1.7%) 0.00 201
2018-09-01 $230,571 (15.9%) $568,704 (-7.0%) 0.00 210
2018-10-01 $239,475 (20.6%) $600,027 (-3.5%) 0.00 190
2018-11-01 $231,400 (17.8%) $548,466 (-10.4%) 0.00 193
2018-12-01 $229,900 (5.7%) $314,549 (-49.3%) 0.00 169
2019-01-01 $233,500 (15.0%) $304,835 (-47.5%) 0.00 158
2019-02-01 $239,500 (4.2%) $307,162 (-48.7%) 0.00 157
2019-03-01 $243,286 (4.9%) $296,473 (-52.1%) 0.00 159
2019-04-01 $249,475 (6.2%) $281,098 (-54.9%) 0.00 157
2019-05-01 $252,000 (2.7%) $311,914 (-49.6%) 0.00 161
2019-06-01 $262,400 (7.1%) $301,205 (-47.2%) 0.00 192
2019-07-01 $253,675 (6.5%) $292,108 (-49.6%) 0.00 214
2019-08-01 $253,991 (9.0%) $292,396 (-50.2%) 0.00 208
2019-09-01 $260,127 (12.8%) $295,426 (-48.1%) 0.00 205
2019-10-01 $261,718 (9.3%) $289,387 (-51.8%) 0.00 199
2019-11-01 $250,000 (8.0%) $271,744 (-50.5%) 0.00 184
2019-12-01 $244,950 (6.6%) $266,974 (-15.1%) 0.00 182
2020-01-01 $256,000 (9.6%) $269,753 (-11.5%) 0.00 166
2020-02-01 $259,700 (8.4%) $292,574 (-4.8%) 0.00 161
2020-03-01 $270,950 (11.4%) $298,588 (0.7%) 0.00 151
2020-04-01 $279,987 (12.2%) $303,328 (7.9%) 0.00 151
2020-05-01 $282,499 (12.1%) $301,420 (-3.4%) 0.00 146
2020-06-01 $287,225 (9.5%) $481,059 (59.7%) 0.00 133
2020-07-01 $285,000 (12.4%) $517,018 (77.0%) 0.00 121
2020-08-01 $280,000 (10.2%) $532,782 (82.2%) 0.00 110
2020-09-01 $277,500 (6.7%) $542,032 (83.5%) 0.00 104
2020-10-01 $274,900 (5.0%) $522,222 (80.5%) 0.00 108
2020-11-01 $283,200 (13.3%) $542,566 (99.7%) 0.00 88
2020-12-01 $304,913 (24.5%) $620,206 (132.3%) 0.00 63
2021-01-01 $284,903 (11.3%) $635,058 (135.4%) 0.00 58
2021-02-01 $291,200 (12.1%) $679,583 (132.3%) 0.00 53
2021-03-01 $304,713 (12.5%) $621,630 (108.2%) 0.00 63
2021-04-01 $326,450 (16.6%) $633,158 (108.7%) 0.00 65
2021-05-01 $337,250 (19.4%) $666,948 (121.3%) 0.00 67
2021-06-01 $302,450 (5.3%) $674,042 (40.1%) 0.00 70
2021-07-01 $309,000 (8.4%) $388,051 (-24.9%) 0.00 68
2021-08-01 $307,450 (9.8%) $674,695 (26.6%) 0.00 80
2021-09-01 $300,000 (8.1%) $595,142 (9.8%) 0.00 107
2021-10-01 $317,000 (15.3%) $565,480 (8.3%) 0.00 109
2021-11-01 $337,232 (19.1%) $584,723 (7.8%) 0.00 110
2021-12-01 $354,250 (16.2%) $619,605 (-0.1%) 0.00 98
2022-01-01 $349,000 (22.5%) $611,855 (-3.7%) 0.00 97
2022-02-01 $352,204 (21.0%) $616,982 (-9.2%) 0.00 94
2022-03-01 $362,500 (19.0%) $611,029 (-1.7%) 0.00 105
2022-04-01 $367,500 (12.6%) $637,055 (0.6%) 0.00 100
2022-05-01 $361,079 (7.1%) $643,526 (-3.5%) 0.00 103
2022-06-01 $358,445 (18.5%) $606,732 (-10.0%) 0.00 121
2022-07-01 $359,900 (16.5%) $562,246 (44.9%) 0.00 161
2022-08-01 $349,750 (13.8%) $520,590 (-22.8%) 0.00 181
2022-09-01 $349,675 (16.6%) $450,399 (-24.3%) 0.00 177
2022-10-01 $329,975 (4.1%) $439,843 (-22.2%) 0.00 185
2022-11-01 $333,975 (-1.0%) $418,548 (-28.4%) 0.00 194
2022-12-01 $329,000 (-7.1%) $401,849 (-35.1%) 0.00 194
2023-01-01 $329,725 (-5.5%) $413,640 (-32.4%) 0.00 174
2023-02-01 $332,000 (-5.7%) $422,615 (-31.5%) 0.00 161
2023-03-01 $334,790 (-7.6%) $428,596 (-29.9%) 0.00 160
2023-04-01 $352,500 (-4.1%) $434,585 (-31.8%) 0.00 169
2023-05-01 $355,000 (-1.7%) $418,610 (-35.0%) 0.00 196
2023-06-01 $364,725 (1.8%) $430,661 (-29.0%) 0.00 184
2023-07-01 $363,950 (1.1%) $429,246 (-23.7%) 0.00 193
2023-08-01 $368,961 (5.5%) $431,820 (-17.1%) 0.00 205
2023-09-01 $359,975 (3.0%) $425,626 (-5.5%) 0.00 221
2023-10-01 $352,450 (6.8%) $417,809 (-5.0%) 0.00 212
2023-11-01 $349,950 (4.8%) $406,464 (-2.9%) 0.00 215
2023-12-01 $350,000 (6.4%) $410,112 (2.1%) 0.00 226
2024-01-01 $346,000 (4.9%) $399,592 (-3.4%) 0.00 206
2024-02-01 $354,937 (6.9%) $408,990 (-3.2%) 0.00 177
2024-03-01 $350,000 (4.5%) $403,422 (-5.9%) 0.00 168
2024-04-01 $352,963 (0.1%) $407,830 (-6.2%) 0.00 199
Hermiston's median listing price for 2024-04-01 was $352,963, a difference of $463 (0.1%) versus the prior year and $2,963 versus the prior month.

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

Hermiston's average listing price for 2024-04-01 was $407,830, a difference of $-26,755 (-6.2%) versus the prior year and $4,408 versus the prior month.

For the 2024-04-01 period, Hermiston had 199 MLS listings, a difference of 31 listings (18%) versus the prior month and 30 listings (18%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Hermiston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,759 sqft
2018-02-01 0 days 1,806 sqft
2018-03-01 0 days 1,833 sqft
2018-04-01 0 days 1,907 sqft
2018-05-01 0 days 1,983 sqft
2018-06-01 0 days 1,979 sqft
2018-07-01 0 days 1,905 sqft
2018-08-01 0 days 1,850 sqft
2018-09-01 0 days 1,891 sqft
2018-10-01 0 days 1,927 sqft
2018-11-01 0 days 1,861 sqft
2018-12-01 0 days 1,882 sqft
2019-01-01 0 days 1,907 sqft
2019-02-01 0 days 1,904 sqft
2019-03-01 0 days 1,920 sqft
2019-04-01 0 days 1,968 sqft
2019-05-01 0 days 1,949 sqft
2019-06-01 0 days 1,955 sqft
2019-07-01 0 days 1,955 sqft
2019-08-01 0 days 1,958 sqft
2019-09-01 0 days 1,956 sqft
2019-10-01 0 days 1,947 sqft
2019-11-01 0 days 1,936 sqft
2019-12-01 0 days 1,871 sqft
2020-01-01 0 days 1,865 sqft
2020-02-01 0 days 1,871 sqft
2020-03-01 0 days 1,954 sqft
2020-04-01 0 days 1,988 sqft
2020-05-01 0 days 2,035 sqft
2020-06-01 0 days 2,038 sqft
2020-07-01 0 days 2,035 sqft
2020-08-01 0 days 1,954 sqft
2020-09-01 0 days 1,857 sqft
2020-10-01 0 days 1,861 sqft
2020-11-01 0 days 1,836 sqft
2020-12-01 0 days 1,882 sqft
2021-01-01 0 days 1,887 sqft
2021-02-01 0 days 1,870 sqft
2021-03-01 0 days 1,855 sqft
2021-04-01 0 days 1,795 sqft
2021-05-01 0 days 1,780 sqft
2021-06-01 0 days 1,786 sqft
2021-07-01 0 days 1,754 sqft
2021-08-01 0 days 1,723 sqft
2021-09-01 0 days 1,711 sqft
2021-10-01 0 days 1,823 sqft
2021-11-01 0 days 1,866 sqft
2021-12-01 0 days 1,858 sqft
2022-01-01 0 days 1,868 sqft
2022-02-01 0 days 1,841 sqft
2022-03-01 0 days 1,817 sqft
2022-04-01 0 days 1,886 sqft
2022-05-01 0 days 1,824 sqft
2022-06-01 0 days 1,810 sqft
2022-07-01 0 days 1,840 sqft
2022-08-01 0 days 1,800 sqft
2022-09-01 0 days 1,731 sqft
2022-10-01 0 days 1,640 sqft
2022-11-01 0 days 1,680 sqft
2022-12-01 0 days 1,640 sqft
2023-01-01 0 days 1,662 sqft
2023-02-01 0 days 1,643 sqft
2023-03-01 0 days 1,725 sqft
2023-04-01 0 days 1,854 sqft
2023-05-01 0 days 1,854 sqft
2023-06-01 0 days 1,792 sqft
2023-07-01 0 days 1,761 sqft
2023-08-01 0 days 1,810 sqft
2023-09-01 0 days 1,750 sqft
2023-10-01 0 days 1,729 sqft
2023-11-01 0 days 1,724 sqft
2023-12-01 0 days 1,715 sqft
2024-01-01 0 days 1,715 sqft
2024-02-01 0 days 1,719 sqft
2024-03-01 0 days 1,699 sqft
2024-04-01 0 days 1,689 sqft
Hermiston's median listing age (time on market) for 2024-04-01 was 0 days.

Hermiston's median square footage for active listings during the 2024-04-01 period was 1,689 sqft. One year prior, the average listing was 1,854 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.