Hermiston VA Loan Rates, Closing Costs & Stats

Hermiston-Pendleton, 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.

    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 6.74% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.77% and one month ago for the week of 2024-03-15, the average rate was 6.43%.

    The average rate one year ago was 6.42%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

    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
    Hermiston's median listing price for 2024-03-01 was $350,000, a difference of $15,210 (4.5%) versus the prior year and $-4,937 versus the prior month.

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

    Hermiston's average listing price for 2024-03-01 was $403,422, a difference of $-25,174 (-5.9%) versus the prior year and $-5,568 versus the prior month.

    For the 2024-03-01 period, Hermiston had 168 MLS listings, a difference of -9 listings (-5%) versus the prior month and 8 listings (5%) 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
    Hermiston's median listing age (time on market) for 2024-03-01 was 0 days.

    Hermiston's median square footage for active listings during the 2024-03-01 period was 1,699 sqft. One year prior, the average listing was 1,725 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.