Madera VA Loan Rates, Closing Costs & Stats

MADERA, CA

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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.

    Madera's 37 lenders originated 143 VA loans during 2023. The total origination value was $62,085,000, with an average VA loan value of $434,161.

    Madera VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Madera averaged 6.43% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Madera's average VA mortgage closing costs are $6,491.

    The average rate for the prior week (2024-07-12) was 6.47% and one month ago for the week of 2024-06-14, the average rate was 6.23%.

    The average rate one year ago was 6.51%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.1%.

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

    Madera 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 Madera level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 24 5.97% $9,802
    Paramount Residential Mortgage Group, Inc. 13 5.84% $12,749
    QUICKEN LOANS, LLC 11 6.31% $12,714
    Mortgage Research Center, LLC 10 6.42% $6,098
    Century Mortgage Company DBA Century Lending Company 9 6.12% $8,573
    DHI MORTGAGE COMPANY, LTD. 7 5.64% $6,734
    PREMIER MORTGAGE RESOURCES, L.L.C. 5 6.62% $10,394
    PENNYMAC LOAN SERVICES, LLC 4 6.25% $11,873
    Sierra Pacific Mortgage Company, Inc. 4 6.41% $10,785
    USAA Federal Savings Bank 3 5.63% $11,618
    LOANDEPOT.COM, LLC 3 6.29% $10,134
    NAVY FEDERAL CREDIT UNION 3 6.17% $2,060
    EAGLE HOME MORTGAGE, LLC 3 5.92% $2,338
    PLAZA HOME MORTGAGE, INC. 3 6.42% $8,876
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 7.08% $11,097
    FREEDOM MORTGAGE CORPORATION 3 6.21% $16,621
    GUARANTEED RATE, INC. 3 6.21% $5,037
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.50% $12,821
    INSPIRE HOME LOANS INC. 3 5.25% $3,536
    ALAMEDA MORTGAGE CORPORATION 2 6.19% $14,358
    GUILD MORTGAGE COMPANY 2 7.38% $15,481
    KBHS HOME LOANS, LLC 2 6.54% $9,991
    The Federal Savings Bank 2 6.25% $18,448
    NEWREZ LLC 1 5.75% $14,256
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $26,265
    LEADERONE FINANCIAL CORPORATION 1 5.75% $2,400
    Equity Prime Mortgage LLC 1 7.25% $7,336
    CROSSCOUNTRY MORTGAGE, LLC 1 7.50% $5,764
    Prosperity Home Mortgage, LLC 1 6.63% $2,902
    CMG MORTGAGE, INC. 1 7.00% $14,294
    Capital Bank 1 6.25% $12,297
    Strong Home Mortgage, LLC 1 6.50% $19,307
    T2 FINANCIAL LLC 1 6.63% $1,132
    U.S. Bank 1 6.13% $10,274
    BROKER SOLUTIONS, INC. 1 7.13% $10,426
    AMERISAVE MORTGAGE CORPORATION 1 6.75% $22,027
    NEW DAY FINANCIAL, LLC 1 6.99% $11,734

    The top Madera VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 24 VA loans originated. Their average total fees are $9,802, which is $2,947 lower than the next largest lender, Paramount Residential Mortgage Group, Inc..

    The lowest fee Madera VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,098), UNITED WHOLESALE MORTGAGE, LLC ($9,802), QUICKEN LOANS, LLC ($12,714), Paramount Residential Mortgage Group, Inc. ($12,749) and .

    The lowest rate Madera VA lenders (with over 10 loans originated) are Paramount Residential Mortgage Group, Inc. (5.84%), UNITED WHOLESALE MORTGAGE, LLC (5.97%), QUICKEN LOANS, LLC (6.31%), Mortgage Research Center, LLC (6.42%) and .

    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.