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 89 lenders originated 599 VA loans during 2021. The total origination value was $195,625,000, with an average VA loan value of $326,586.

    Madera VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Madera averaged 0.32% for the week of 2023-01-20, compared to the national average (all VA variants) of 0% for the same period.

    Madera's average VA mortgage closing costs are $5,697.

    The average rate for the prior week (2023-01-13) was 6.4% and one month ago for the week of 2022-12-16, the average rate was 6.38%.

    The average rate one year ago was 3.88%.

    For refis of the same type during the week of 2023-01-20, the average rate was 0.14%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    FREEDOM MORTGAGE CORPORATION 49 2.45% $2,925
    UNITED WHOLESALE MORTGAGE, LLC 40 2.62% $7,185
    QUICKEN LOANS, LLC 39 2.51% $4,509
    PENNYMAC LOAN SERVICES, LLC 34 2.37% $5,245
    HOME POINT FINANCIAL CORPORATION 27 2.43% $5,508
    Mortgage Research Center, LLC 27 2.82% $7,749
    LOANDEPOT.COM, LLC 22 2.51% $4,893
    Sierra Pacific Mortgage Company, Inc. 18 2.72% $9,547
    FINANCE OF AMERICA MORTGAGE LLC 16 2.55% $8,156
    ALAMEDA MORTGAGE CORPORATION 15 2.93% $8,926
    VILLAGE CAPITAL MORTGAGE 13 2.21% $2,866
    The Federal Savings Bank 13 2.63% $8,996
    NEW DAY FINANCIAL, LLC 10 2.86% $9,326
    NAVY FEDERAL CREDIT UNION 10 2.45% $4,293
    CALIBER HOME LOANS, INC. 9 2.45% $4,492
    PLAZA HOME MORTGAGE, INC. 9 2.51% $7,222
    CLEARPATH LENDING 9 2.42% $3,845
    LAKEVIEW LOAN SERVICING, LLC 8 2.36% $2,269
    EAGLE HOME MORTGAGE, LLC 8 2.80% $8,120
    NEWREZ LLC 8 2.53% $3,250
    KBHS HOME LOANS, LLC 7 3.00% $7,934
    Mr. Cooper ( Nationstar Mortgage ) 7 2.61% $5,358
    BROKER SOLUTIONS, INC. 7 2.64% $7,929
    HOMEBRIDGE FINANCIAL SERVICES, INC. 6 2.71% $6,599
    Barrington Bank & Trust Company, N.A. 6 2.73% $5,010
    NBKC BANK 6 2.52% $3,388
    SUN WEST MORTGAGE COMPANY, INC. 5 2.48% $5,500
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 2.72% $8,122
    Low VA Rates, LLC 4 2.31% $4,585
    CMG MORTGAGE, INC. 4 2.38% $6,195
    Carrington Mortgage Services, LLC 4 2.59% $7,384
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 2.81% $10,737
    USAA Federal Savings Bank 4 2.91% $64
    AMERICAN FINANCIAL NETWORK, INC. 4 2.41% $10,402
    PLANET HOME LENDING, LLC 4 2.38% $3,554
    Golden Empire Mortgage, Inc. 3 3.13% $10,177
    RESIDENTIAL BANCORP. 3 2.63% $14,446
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 2.79% $16,855
    U.S. Bank 3 2.88% $7,234
    Wells Fargo Bank 3 2.33% $4,804
    LOANPAL, LLC 3 2.42% $9,623
    Equity Prime Mortgage LLC 2 3.13% $3,464
    ACCELERATE MORTGAGE, LLC 2 2.00% $5,835
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 2 3.06% $12,327
    InterContinental Capital Group, Inc 2 2.25% $2,107
    INTERCAP LENDING INC. 2 2.56% $2,200
    CROSSCOUNTRY MORTGAGE, LLC 2 3.19% $7,154
    SUMMIT FUNDING, INC. 2 3.00% $7,911
    MLD MORTGAGE INC. 2 3.00% $9,037
    Commerce Home Mortgage, Inc. 2 2.69% $5,656
    Paramount Residential Mortgage Group, Inc. 2 3.00% $12,343
    BAY EQUITY LLC 2 2.44% $6,597
    Lakeview Community Capital, LLC 2 2.38% $2,782
    STEARNS LENDING, LLC 1 2.25% $1,852
    Amerifirst Financial, Inc. 1 3.25% $13,544
    Bank of Idaho 1 3.00% $2,248
    BELEM SERVICING LLC 1 2.25% $4,945
    BNC National Bank 1 2.25% $787
    COUNTRY CLUB MORTGAGE, INC. 1 2.75% $1,472
    First Federal Bank 1 2.75% $5,696
    Flagstar Bank, FSB 1 2.85% $1,620
    Franklin Loan Corporation 1 2.63% $600
    GUARANTEED RATE AFFINITY, LLC 1 2.50% $17,300
    GUILD MORTGAGE COMPANY 1 2.63% $12,838
    HomePromise Corporation 1 3.38% $16,068
    LEADERONE FINANCIAL CORPORATION 1 2.63% $11,690
    Magnolia Bank 1 2.25% $11,146
    MASON MCDUFFIE MORTGAGE CORPORATION 1 2.75% $5,061
    MID AMERICA MORTGAGE, INC. 1 2.50% $2,383
    MID-VALLEY SERVICES, INC. 1 2.38% $1,748
    MORTGAGEONE, INC. 1 2.75% $0
    MOUNTAIN WEST FINANCIAL, INC. 1 2.50% $4,095
    MOVEMENT MORTGAGE, LLC 1 2.88% $10,996
    MUFG Union Bank 1 2.50% $11,509
    Nations Lending Corporation 1 2.25% $2,210
    NATIONWIDE MORTGAGE BANKERS, INC. 1 2.88% $10,670
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 3.25% $14,109
    NP, Inc. 1 2.75% $5,248
    OCMBC, INC. 1 3.25% $3,315
    PHH Mortgage Corporation 1 2.75% $4,756
    Platinum Home Mortgage Corporation 1 3.25% $10,526
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.00% $13,337
    Prosperity Home Mortgage, LLC 1 2.88% $1,725
    SCENIC OAKS FUNDING, INC. 1 2.25% $3,002
    SOVEREIGN LENDING GROUP INCORPORATED 1 2.25% $4,291
    ABSOLUTE HOME MORTGAGE CORPORATION 1 2.38% $3,712
    Strong Home Mortgage, LLC 1 2.38% $2,698
    TOWNE MORTGAGE COMPANY 1 2.75% $3,456
    Truist 1 2.60% $1,226

    The top Madera VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 49 VA loans originated. Their average total fees are $2,925, which is $4,260 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Madera VA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($2,866), FREEDOM MORTGAGE CORPORATION ($2,925), NAVY FEDERAL CREDIT UNION ($4,293), QUICKEN LOANS, LLC ($4,509) and LOANDEPOT.COM, LLC ($4,893).

    The lowest rate Madera VA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (2.21%), PENNYMAC LOAN SERVICES, LLC (2.37%), HOME POINT FINANCIAL CORPORATION (2.43%), FREEDOM MORTGAGE CORPORATION (2.45%) and NAVY FEDERAL CREDIT UNION (2.45%).

    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%) $432,914 (2.3%) 0.00 498
    2019-04-01 $330,798 (5.0%) $419,472 (0.6%) 0.00 506
    2019-05-01 $334,950 (5.5%) $429,475 (1.9%) 0.00 501
    2019-06-01 $337,000 (5.8%) $449,554 (6.0%) 0.00 514
    2019-07-01 $337,000 (7.4%) $429,304 (2.7%) 0.00 527
    2019-08-01 $335,727 (8.3%) $423,252 (2.7%) 0.00 535
    2019-09-01 $335,318 (8.2%) $422,272 (2.5%) 0.00 542
    2019-10-01 $335,000 (6.8%) $423,115 (6.3%) 0.00 538
    2019-11-01 $335,500 (4.7%) $429,303 (7.8%) 0.00 499
    2019-12-01 $328,750 (1.2%) $423,215 (5.3%) 0.00 485
    2020-01-01 $339,000 (3.1%) $421,708 (5.3%) 0.00 430
    2020-02-01 $339,950 (4.6%) $427,339 (5.5%) 0.00 418
    2020-03-01 $347,500 (5.9%) $437,376 (1.0%) 0.00 446
    2020-04-01 $345,250 (4.4%) $426,215 (1.6%) 0.00 448
    2020-05-01 $349,500 (4.3%) $440,705 (2.6%) 0.00 426
    2020-06-01 $355,700 (5.6%) $457,011 (1.7%) 0.00 362
    2020-07-01 $366,975 (8.9%) $479,305 (11.7%) 0.00 317
    2020-08-01 $389,900 (16.1%) $498,818 (17.9%) 0.00 272
    2020-09-01 $394,975 (17.8%) $519,314 (23.0%) 0.00 271
    2020-10-01 $389,500 (16.3%) $531,018 (25.5%) 0.00 249
    2020-11-01 $397,474 (18.5%) $558,818 (30.2%) 0.00 252
    2020-12-01 $399,000 (21.4%) $565,676 (33.7%) 0.00 218
    2021-01-01 $399,950 (18.0%) $595,358 (41.2%) 0.00 191
    2021-02-01 $422,000 (24.1%) $630,832 (47.6%) 0.00 159
    2021-03-01 $439,750 (26.6%) $636,860 (45.6%) 0.00 164
    2021-04-01 $434,975 (26.0%) $613,566 (44.0%) 0.00 170
    2021-05-01 $455,000 (30.2%) $617,253 (40.1%) 0.00 181
    2021-06-01 $444,000 (24.8%) $607,656 (33.0%) 0.00 194
    2021-07-01 $428,500 (16.8%) $576,723 (20.3%) 0.00 232
    2021-08-01 $438,310 (12.4%) $576,262 (15.5%) 0.00 252
    2021-09-01 $440,925 (11.6%) $572,953 (10.3%) 0.00 282
    2021-10-01 $459,000 (17.8%) $614,306 (15.7%) 0.00 267
    2021-11-01 $471,000 (18.5%) $622,572 (11.4%) 0.00 261
    2021-12-01 $470,000 (17.8%) $653,278 (15.5%) 0.00 232
    2022-01-01 $490,000 (22.5%) $667,100 (12.1%) 0.00 195
    2022-02-01 $466,978 (10.7%) $654,052 (3.7%) 0.00 192
    2022-03-01 $487,000 (10.7%) $704,040 (10.6%) 0.00 193
    2022-04-01 $494,950 (13.8%) $725,671 (18.3%) 0.00 207
    2022-05-01 $503,725 (10.7%) $695,427 (12.7%) 0.00 244
    2022-06-01 $499,500 (12.5%) $651,900 (7.3%) 0.00 284
    2022-07-01 $493,990 (15.3%) $644,687 (11.8%) 0.00 353
    2022-08-01 $479,450 (9.4%) $613,271 (6.4%) 0.00 367
    2022-09-01 $492,367 (11.7%) $614,768 (7.3%) 0.00 374
    2022-10-01 $475,000 (3.5%) $595,225 (-3.1%) 0.00 423
    2022-11-01 $469,000 (-0.4%) $588,587 (-5.5%) 0.00 408
    2022-12-01 $469,500 (-0.1%) $590,703 (-9.6%) 0.00 371
    Madera's median listing price for 2022-12-01 was $469,500, a difference of $-500 (-0.1%) versus the prior year and $500 versus the prior month.

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

    Madera's average listing price for 2022-12-01 was $590,703, a difference of $-62,575 (-9.6%) versus the prior year and $2,116 versus the prior month.

    For the 2022-12-01 period, Madera had 371 MLS listings, a difference of -37 listings (-9%) versus the prior month and 139 listings (60%) 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 1,930 sqft
    2018-10-01 0 days 1,910 sqft
    2018-11-01 0 days 1,920 sqft
    2018-12-01 0 days 1,920 sqft
    2019-01-01 0 days 1,945 sqft
    2019-02-01 0 days 1,956 sqft
    2019-03-01 0 days 1,928 sqft
    2019-04-01 0 days 1,928 sqft
    2019-05-01 0 days 1,953 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 1,953 sqft
    2019-12-01 0 days 1,900 sqft
    2020-01-01 0 days 1,920 sqft
    2020-02-01 0 days 1,952 sqft
    2020-03-01 0 days 1,960 sqft
    2020-04-01 0 days 1,960 sqft
    2020-05-01 0 days 1,990 sqft
    2020-06-01 0 days 2,045 sqft
    2020-07-01 0 days 2,023 sqft
    2020-08-01 0 days 2,100 sqft
    2020-09-01 0 days 2,113 sqft
    2020-10-01 0 days 2,028 sqft
    2020-11-01 0 days 2,070 sqft
    2020-12-01 0 days 2,041 sqft
    2021-01-01 0 days 2,079 sqft
    2021-02-01 0 days 2,075 sqft
    2021-03-01 0 days 2,142 sqft
    2021-04-01 0 days 2,030 sqft
    2021-05-01 0 days 2,044 sqft
    2021-06-01 0 days 1,943 sqft
    2021-07-01 0 days 1,912 sqft
    2021-08-01 0 days 1,942 sqft
    2021-09-01 0 days 2,012 sqft
    2021-10-01 0 days 2,038 sqft
    2021-11-01 0 days 2,070 sqft
    2021-12-01 0 days 2,049 sqft
    2022-01-01 0 days 2,100 sqft
    2022-02-01 0 days 2,077 sqft
    2022-03-01 0 days 1,998 sqft
    2022-04-01 0 days 2,031 sqft
    2022-05-01 0 days 2,012 sqft
    2022-06-01 0 days 2,027 sqft
    2022-07-01 0 days 2,000 sqft
    2022-08-01 0 days 1,941 sqft
    2022-09-01 0 days 1,985 sqft
    2022-10-01 0 days 1,949 sqft
    2022-11-01 0 days 1,961 sqft
    2022-12-01 0 days 1,937 sqft
    Madera's median listing age (time on market) for 2022-12-01 was 0 days.

    Madera's median square footage for active listings during the 2022-12-01 period was 1,937 sqft. One year prior, the average listing was 2,049 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.