Medford VA Loan Rates, Closing Costs & Stats

MEDFORD, 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.

    Medford's 56 lenders originated 250 VA loans during 2023. The total origination value was $98,100,000, with an average VA loan value of $392,400.

    Medford VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Medford averaged 6.32% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Medford's average VA mortgage closing costs are $6,728.

    The average rate for the prior week (2024-07-12) was 6.56% and one month ago for the week of 2024-06-14, the average rate was 6.52%.

    The average rate one year ago was 7%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.4%.

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

    Medford 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 Medford level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 25 6.74% $5,922
    MOVEMENT MORTGAGE, LLC 18 6.51% $10,409
    UNITED WHOLESALE MORTGAGE, LLC 16 6.13% $5,492
    GUILD MORTGAGE COMPANY 14 6.74% $13,667
    QUICKEN LOANS, LLC 14 5.97% $12,336
    USAA Federal Savings Bank 9 6.00% $11,310
    ROGUE 9 6.58% $7,584
    Nations Lending Corporation 8 6.39% $6,815
    CROSSCOUNTRY MORTGAGE, LLC 8 7.07% $9,663
    MUTUAL OF OMAHA MORTGAGE, INC. 8 6.55% $15,118
    Willamette Valley Bank 8 6.28% $9,774
    FREEDOM MORTGAGE CORPORATION 8 6.52% $15,919
    LOANDEPOT.COM, LLC 7 5.91% $11,738
    NAVY FEDERAL CREDIT UNION 7 6.20% $8,561
    PENNYMAC LOAN SERVICES, LLC 5 5.70% $10,827
    NEWREZ LLC 4 6.97% $12,201
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 4 7.13% $14,923
    The Federal Savings Bank 4 6.25% $22,357
    PACIFIC RESIDENTIAL MORTGAGE, LLC 4 6.44% $21,210
    MORTGAGE EXPRESS, LLC 3 6.50% $9,895
    Century Mortgage Company DBA Century Lending Company 3 6.41% $8,562
    Sierra Pacific Mortgage Company, Inc. 3 6.91% $9,506
    PLAZA HOME MORTGAGE, INC. 3 6.33% $10,408
    S1L, Inc. 2 6.25% $11,855
    Barrington Bank & Trust Company, N.A. 2 6.00% $12,121
    CARDINAL FINANCIAL 2 6.56% $28,604
    CMG MORTGAGE, INC. 2 6.44% $8,267
    JPMorgan Chase Bank 2 6.31% $500
    LOANPAL, LLC 2 5.56% $7,344
    MOUNTAIN WEST FINANCIAL, INC. 2 6.63% $15,677
    NATIONS DIRECT MORTGAGE, LLC 2 6.81% $9,799
    NBKC BANK 2 6.13% $4,660
    PENTAGON FEDERAL CREDIT UNION 2 5.44% $13,058
    PREMIER MORTGAGE RESOURCES, L.L.C. 2 6.38% $22,068
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.06% $13,156
    TWINSTAR 2 6.13% $3,537
    U.S. Bank 2 5.75% $15,900
    GUARANTEED RATE, INC. 1 6.75% $2,764
    BAY EQUITY LLC 1 7.13% $9,542
    GENEVA FINANCIAL, LLC 1 5.25% $22,652
    First Federal Bank of Kansas City 1 6.63% $825
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $10,633
    SAMMAMISH MORTGAGE COMPANY 1 4.88% $17,517
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.50% $5,743
    Banner Bank 1 5.25% $8,417
    SUMMIT FUNDING, INC. 1 6.99% $166
    SUN WEST MORTGAGE COMPANY, INC. 1 6.63% $4,683
    EMBRACE HOME LOANS, INC. 1 5.99% $9,156
    The Loan Store, Inc. 1 7.25% $11,534
    TJC Mortgage, Inc. 1 5.75% $16,657
    Mr. Cooper ( Nationstar Mortgage ) 1 7.75% $4,704
    VERITAS FUNDING, LLC 1 5.75% $13,818
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.13% $5,876
    Magnolia Bank 1 6.38% $10,618
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.50% $5,382
    BROKER SOLUTIONS, INC. 1 6.75% $4,535

    The top Medford VA lender as defined by loan originations is Mortgage Research Center, LLC, with 25 VA loans originated. Their average total fees are $5,922, which is $4,487 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Medford VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($5,492), Mortgage Research Center, LLC ($5,922), MOVEMENT MORTGAGE, LLC ($10,409), QUICKEN LOANS, LLC ($12,336) and GUILD MORTGAGE COMPANY ($13,667).

    The lowest rate Medford VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.97%), UNITED WHOLESALE MORTGAGE, LLC (6.13%), MOVEMENT MORTGAGE, LLC (6.51%), GUILD MORTGAGE COMPANY (6.74%) and Mortgage Research Center, LLC (6.74%).

    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.