Madera VA Loan Rates, Closing Costs & Stats

MADERA, CA

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 57 lenders originated 259 VA loans during 2022. The total origination value was $104,345,000, with an average VA loan value of $402,876.

Madera VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Madera averaged -0.5% for the week of 2024-02-23, compared to the national average (all VA variants) of 0% for the same period.

Madera's average VA mortgage closing costs are $6,246.

The average rate for the prior week (2024-02-16) was 5.97% and one month ago for the week of 2024-01-19, the average rate was 6.13%.

The average rate one year ago was 5.94%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.37%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 40 3.88% $6,219
QUICKEN LOANS, LLC 20 3.67% $12,939
Mortgage Research Center, LLC 14 4.29% $9,333
FREEDOM MORTGAGE CORPORATION 12 3.55% $7,901
CMG MORTGAGE, INC. 11 4.31% $12,287
FINANCE OF AMERICA MORTGAGE LLC 10 3.80% $10,447
PENNYMAC LOAN SERVICES, LLC 9 3.74% $12,780
ALAMEDA MORTGAGE CORPORATION 9 4.15% $12,934
EAGLE HOME MORTGAGE, LLC 8 3.98% $8,903
NEW DAY FINANCIAL, LLC 6 4.41% $11,843
KBHS HOME LOANS, LLC 6 3.92% $9,997
HOME POINT FINANCIAL CORPORATION 6 3.35% $10,163
AMERICAN PACIFIC MORTGAGE CORPORATION 6 5.13% $8,817
USAA Federal Savings Bank 5 4.13% $7,029
NAVY FEDERAL CREDIT UNION 5 3.73% $7,031
Sierra Pacific Mortgage Company, Inc. 5 4.30% $9,647
LOANDEPOT.COM, LLC 5 4.25% $6,994
Barrington Bank & Trust Company, N.A. 4 4.97% $14,027
BROKER SOLUTIONS, INC. 4 5.08% $10,500
INSPIRE HOME LOANS INC. 4 4.69% $13,672
The Federal Savings Bank 4 4.41% $20,737
Mr. Cooper ( Nationstar Mortgage ) 3 4.54% $6,996
CARDINAL FINANCIAL 3 3.25% $10,435
Century Mortgage Company DBA Century Lending Company 2 4.94% $9,022
CALIBER HOME LOANS, INC. 2 2.95% $2,822
GUARANTEED RATE, INC. 2 3.69% $18,019
LOANPAL, LLC 2 2.63% $12,437
Amerifirst Financial, Inc. 2 5.19% $11,582
Platinum Home Mortgage Corporation 2 5.31% $10,732
GUILD MORTGAGE COMPANY 2 5.25% $16,919
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 5.75% $7,444
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 3.06% $19,617
MUFG Union Bank 1 3.38% $2,326
Credence Funding Corporation 1 2.75% $6,422
NBKC BANK 1 4.13% $6,287
BAY EQUITY LLC 1 5.75% $16,851
NOVA FINANCIAL & INVESTMENT CORPORATION 1 3.75% $2,604
Armed Forces Bank 1 4.75% $3,246
PLAZA HOME MORTGAGE, INC. 1 6.13% $16,782
RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 6.50% $13,588
SECURITYNATIONAL MORTGAGE COMPANY 1 5.50% $26,423
AMERISAVE MORTGAGE CORPORATION 1 2.63% $10,654
SUN WEST MORTGAGE COMPANY, INC. 1 4.13% $5,798
Texana Bank 1 2.25% $5,642
U.S. Bank 1 3.50% $12,170
CROSSCOUNTRY MORTGAGE, LLC 1 3.88% $12,562
Nations Lending Corporation 1 4.75% $23,776
COUNTRY CLUB MORTGAGE, INC. 1 4.75% $10,533
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.50% $13,598
CLEARPATH LENDING 1 3.13% $10,822
Hometown Equity Mortgage, LLC 1 3.25% $17,105
AMERIFIRST FINANCIAL CORPORATION 1 5.50% $8,377
CENTRAL COAST LENDING, INC. 1 5.18% $4,495
Mid-Continent Funding, Inc. 1 5.63% $6,714
MLD MORTGAGE INC. 1 3.50% $19,583
MORTGAGEONE, INC. 1 4.13% $26,380
MOVEMENT MORTGAGE, LLC 1 4.25% $10,233

The top Madera VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 40 VA loans originated. Their average total fees are $6,219, which is $6,720 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Madera VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($6,219), FREEDOM MORTGAGE CORPORATION ($7,901), Mortgage Research Center, LLC ($9,333), FINANCE OF AMERICA MORTGAGE LLC ($10,447) and CMG MORTGAGE, INC. ($12,287).

The lowest rate Madera VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION (3.55%), QUICKEN LOANS, LLC (3.67%), FINANCE OF AMERICA MORTGAGE LLC (3.80%), UNITED WHOLESALE MORTGAGE, LLC (3.88%) and Mortgage Research Center, LLC (4.29%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Madera (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 $318,000 (9.8%) $420,404 (12.0%) 0.00 431
2018-02-01 $319,500 (7.6%) $418,481 (6.8%) 0.00 428
2018-03-01 $320,000 (10.9%) $423,243 (7.1%) 0.00 444
2018-04-01 $315,000 (5.0%) $416,949 (4.2%) 0.00 472
2018-05-01 $317,625 (1.5%) $421,289 (2.3%) 0.00 486
2018-06-01 $318,500 (3.0%) $424,081 (2.5%) 0.00 507
2018-07-01 $313,750 (-0.4%) $418,158 (-2.9%) 0.00 536
2018-08-01 $309,987 (-3.1%) $412,153 (-1.8%) 0.00 534
2018-09-01 $310,000 (-4.6%) $411,807 (0.9%) 0.00 553
2018-10-01 $313,700 (-2.0%) $397,961 (-1.4%) 0.00 565
2018-11-01 $320,500 (-0.6%) $398,200 (-3.2%) 0.00 580
2018-12-01 $325,000 (3.2%) $401,982 (-3.5%) 0.00 546
2019-01-01 $328,725 (3.4%) $400,671 (-4.7%) 0.00 518
2019-02-01 $325,000 (1.7%) $404,962 (-3.2%) 0.00 501
2019-03-01 $328,300 (2.6%) $432,917 (2.3%) 0.00 498
2019-04-01 $330,798 (5.0%) $419,479 (0.6%) 0.00 506
2019-05-01 $334,950 (5.5%) $429,482 (1.9%) 0.00 501
2019-06-01 $337,000 (5.8%) $449,554 (6.0%) 0.00 513
2019-07-01 $337,000 (7.4%) $429,304 (2.7%) 0.00 526
2019-08-01 $335,727 (8.3%) $423,252 (2.7%) 0.00 534
2019-09-01 $335,318 (8.2%) $422,272 (2.5%) 0.00 541
2019-10-01 $335,000 (6.8%) $423,105 (6.3%) 0.00 537
2019-11-01 $335,000 (4.5%) $429,293 (7.8%) 0.00 498
2019-12-01 $328,250 (1.0%) $423,193 (5.3%) 0.00 484
2020-01-01 $339,000 (3.1%) $421,679 (5.2%) 0.00 429
2020-02-01 $339,475 (4.5%) $427,322 (5.5%) 0.00 417
2020-03-01 $347,000 (5.7%) $437,382 (1.0%) 0.00 445
2020-04-01 $344,500 (4.1%) $426,196 (1.6%) 0.00 447
2020-05-01 $349,500 (4.3%) $440,717 (2.6%) 0.00 425
2020-06-01 $354,900 (5.3%) $457,063 (1.7%) 0.00 361
2020-07-01 $366,950 (8.9%) $479,436 (11.7%) 0.00 316
2020-08-01 $389,450 (16.0%) $499,025 (17.9%) 0.00 271
2020-09-01 $394,500 (17.7%) $519,589 (23.1%) 0.00 270
2020-10-01 $389,000 (16.1%) $531,369 (25.6%) 0.00 248
2020-11-01 $397,450 (18.6%) $559,247 (30.3%) 0.00 251
2020-12-01 $398,200 (21.3%) $566,183 (33.8%) 0.00 217
2021-01-01 $399,950 (18.0%) $595,819 (41.3%) 0.00 190
2021-02-01 $422,000 (24.3%) $631,820 (47.9%) 0.00 158
2021-03-01 $441,375 (27.2%) $637,882 (45.8%) 0.00 163
2021-04-01 $436,200 (26.6%) $614,454 (44.2%) 0.00 169
2021-05-01 $455,000 (30.2%) $618,085 (40.3%) 0.00 180
2021-06-01 $444,250 (25.2%) $608,396 (33.1%) 0.00 193
2021-07-01 $428,000 (16.6%) $577,254 (20.4%) 0.00 231
2021-08-01 $439,370 (12.8%) $576,758 (15.6%) 0.00 251
2021-09-01 $441,950 (12.0%) $573,378 (10.4%) 0.00 281
2021-10-01 $459,000 (18.0%) $614,898 (15.7%) 0.00 266
2021-11-01 $471,978 (18.8%) $623,215 (11.4%) 0.00 260
2021-12-01 $470,000 (18.0%) $654,131 (15.5%) 0.00 231
2022-01-01 $490,000 (22.5%) $668,145 (12.1%) 0.00 194
2022-02-01 $467,500 (10.8%) $655,066 (3.7%) 0.00 191
2022-03-01 $487,000 (10.3%) $705,189 (10.6%) 0.00 192
2022-04-01 $495,000 (13.5%) $726,862 (18.3%) 0.00 206
2022-05-01 $508,675 (11.8%) $696,324 (12.7%) 0.00 243
2022-06-01 $499,500 (12.4%) $652,583 (7.3%) 0.00 283
2022-07-01 $494,494 (15.5%) $645,228 (11.8%) 0.00 352
2022-08-01 $477,450 (8.7%) $612,210 (6.2%) 0.00 366
2022-09-01 $491,000 (11.1%) $614,272 (7.1%) 0.00 373
2022-10-01 $475,000 (3.5%) $595,593 (-3.1%) 0.00 422
2022-11-01 $469,000 (-0.6%) $588,361 (-5.6%) 0.00 407
2022-12-01 $469,700 (-0.1%) $589,643 (-9.9%) 0.00 367
2023-01-01 $469,000 (-4.3%) $587,792 (-12.0%) 0.00 327
2023-02-01 $472,250 (1.0%) $603,692 (-7.8%) 0.00 314
2023-03-01 $465,875 (-4.3%) $588,436 (-16.6%) 0.00 297
2023-04-01 $484,360 (-2.2%) $627,432 (-13.7%) 0.00 294
2023-05-01 $485,504 (-4.6%) $628,017 (-9.8%) 0.00 324
2023-06-01 $488,915 (-2.1%) $637,722 (-2.3%) 0.00 316
2023-07-01 $501,053 (1.3%) $669,525 (3.8%) 0.00 300
2023-08-01 $518,100 (8.5%) $684,599 (11.8%) 0.00 361
2023-09-01 $499,000 (1.6%) $628,536 (2.3%) 0.00 387
2023-10-01 $495,450 (4.3%) $626,982 (5.3%) 0.00 431
2023-11-01 $482,437 (2.9%) $604,343 (2.7%) 0.00 492
Madera's median listing price for 2023-11-01 was $482,437, a difference of $13,437 (2.9%) versus the prior year and $-13,013 versus the prior month.

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

Madera's average listing price for 2023-11-01 was $604,343, a difference of $15,982 (2.7%) versus the prior year and $-22,639 versus the prior month.

For the 2023-11-01 period, Madera had 492 MLS listings, a difference of 61 listings (14%) versus the prior month and 85 listings (21%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Madera (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,988 sqft
2018-02-01 0 days 1,929 sqft
2018-03-01 0 days 2,000 sqft
2018-04-01 0 days 1,961 sqft
2018-05-01 0 days 1,979 sqft
2018-06-01 0 days 1,951 sqft
2018-07-01 0 days 1,925 sqft
2018-08-01 0 days 1,947 sqft
2018-09-01 0 days 1,929 sqft
2018-10-01 0 days 1,908 sqft
2018-11-01 0 days 1,919 sqft
2018-12-01 0 days 1,920 sqft
2019-01-01 0 days 1,945 sqft
2019-02-01 0 days 1,951 sqft
2019-03-01 0 days 1,927 sqft
2019-04-01 0 days 1,927 sqft
2019-05-01 0 days 1,952 sqft
2019-06-01 0 days 1,976 sqft
2019-07-01 0 days 1,953 sqft
2019-08-01 0 days 1,953 sqft
2019-09-01 0 days 1,952 sqft
2019-10-01 0 days 1,952 sqft
2019-11-01 0 days 1,952 sqft
2019-12-01 0 days 1,900 sqft
2020-01-01 0 days 1,917 sqft
2020-02-01 0 days 1,952 sqft
2020-03-01 0 days 1,956 sqft
2020-04-01 0 days 1,957 sqft
2020-05-01 0 days 1,988 sqft
2020-06-01 0 days 2,040 sqft
2020-07-01 0 days 2,021 sqft
2020-08-01 0 days 2,100 sqft
2020-09-01 0 days 2,112 sqft
2020-10-01 0 days 2,024 sqft
2020-11-01 0 days 2,065 sqft
2020-12-01 0 days 2,016 sqft
2021-01-01 0 days 2,079 sqft
2021-02-01 0 days 2,073 sqft
2021-03-01 0 days 2,144 sqft
2021-04-01 0 days 2,022 sqft
2021-05-01 0 days 2,040 sqft
2021-06-01 0 days 1,940 sqft
2021-07-01 0 days 1,909 sqft
2021-08-01 0 days 1,941 sqft
2021-09-01 0 days 2,011 sqft
2021-10-01 0 days 2,034 sqft
2021-11-01 0 days 2,067 sqft
2021-12-01 0 days 2,045 sqft
2022-01-01 0 days 2,098 sqft
2022-02-01 0 days 2,075 sqft
2022-03-01 0 days 1,996 sqft
2022-04-01 0 days 2,026 sqft
2022-05-01 0 days 2,011 sqft
2022-06-01 0 days 2,024 sqft
2022-07-01 0 days 1,997 sqft
2022-08-01 0 days 1,940 sqft
2022-09-01 0 days 1,984 sqft
2022-10-01 0 days 1,953 sqft
2022-11-01 0 days 1,959 sqft
2022-12-01 0 days 1,937 sqft
2023-01-01 0 days 1,904 sqft
2023-02-01 0 days 1,981 sqft
2023-03-01 0 days 1,958 sqft
2023-04-01 0 days 2,023 sqft
2023-05-01 0 days 1,970 sqft
2023-06-01 0 days 1,973 sqft
2023-07-01 0 days 2,020 sqft
2023-08-01 0 days 2,064 sqft
2023-09-01 0 days 2,073 sqft
2023-10-01 0 days 2,041 sqft
2023-11-01 0 days 2,008 sqft
Madera's median listing age (time on market) for 2023-11-01 was 0 days.

Madera's median square footage for active listings during the 2023-11-01 period was 2,008 sqft. One year prior, the average listing was 1,959 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.