Medford VA Loans

MEDFORD, OR

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 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 106 lenders originated 1,256 VA loans during 2021. The total origination value was $390,930,000, with an average VA loan value of $311,250.

Medford VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Medford averaged 5.3% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.63% and one month ago for the week of 2022-04-08, the average rate was 4.96%.

The average rate one year ago was 2.97%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.07%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Medford level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FREEDOM MORTGAGE CORPORATION 84 2.43% $3,452
QUICKEN LOANS, LLC 74 2.37% $4,194
GUILD MORTGAGE COMPANY 73 2.79% $9,574
Mortgage Research Center, LLC 73 2.69% $6,056
CALIBER HOME LOANS, INC. 67 2.52% $6,420
LOANDEPOT.COM, LLC 52 2.51% $5,240
PENNYMAC LOAN SERVICES, LLC 48 2.31% $6,758
ROGUE 47 2.70% $5,726
Willamette Valley Bank 34 2.73% $6,358
LAKEVIEW LOAN SERVICING, LLC 34 2.51% $3,164
UNITED WHOLESALE MORTGAGE, LLC 33 2.38% $5,416
CROSSCOUNTRY MORTGAGE, LLC 31 2.97% $8,408
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 25 3.20% $11,929
The Federal Savings Bank 25 2.43% $8,932
NEW DAY FINANCIAL, LLC 25 2.71% $10,233
MOVEMENT MORTGAGE, LLC 21 2.93% $6,234
USAA Federal Savings Bank 20 2.81% $3,570
Umpqua Bank 19 2.64% $7,443
MUTUAL OF OMAHA MORTGAGE, INC. 16 2.70% $4,109
NAVY FEDERAL CREDIT UNION 14 2.55% $7,451
Low VA Rates, LLC 13 2.38% $4,167
VILLAGE CAPITAL & INVESTMENT LLC 12 2.26% $5,277
AMERICAN FINANCIAL NETWORK, INC. 11 2.60% $11,906
Barrington Bank & Trust Company, N.A. 11 2.64% $7,112
InterContinental Capital Group, Inc 11 2.48% $5,018
Mr. Cooper ( Nationstar Mortgage ) 10 2.94% $4,946
CMG MORTGAGE, INC. 10 2.63% $9,488
People's Bank of Commerce 10 2.49% $6,370
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 3.01% $5,777
Magnolia Bank 9 2.40% $5,916
SUMMIT FUNDING, INC. 9 3.17% $5,946
HOME POINT FINANCIAL CORPORATION 9 2.31% $4,638
NP, Inc. 8 2.28% $5,073
Sierra Pacific Mortgage Company, Inc. 7 2.71% $13,620
Carrington Mortgage Services, LLC 7 2.93% $6,380
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 7 2.73% $7,817
NATIONS DIRECT MORTGAGE, LLC 7 2.43% $6,108
SUN WEST MORTGAGE COMPANY, INC. 6 2.42% $5,804
First Guaranty Mortgage Corporation 6 2.56% $4,059
CHERRY CREEK MORTGAGE, LLC 6 2.44% $6,080
CLEARPATH LENDING 6 2.00% $4,608
Nations Lending Corporation 6 2.79% $10,747
NEWREZ LLC 6 2.52% $2,634
AMERISAVE MORTGAGE CORPORATION 5 2.33% $9,294
NORTHWEST COMMUNITY 5 2.43% $4,890
PACIFIC RESIDENTIAL MORTGAGE, LLC 5 2.93% $4,172
LOANPAL, LLC 4 2.34% $11,516
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 2.63% $5,320
PREMIER MORTGAGE RESOURCES, L.L.C. 4 2.75% $6,865
Wells Fargo Bank 4 2.50% $4,499
SOVEREIGN LENDING GROUP INCORPORATED 4 2.31% $8,938
BROKER SOLUTIONS, INC. 4 2.38% $4,449
PENTAGON FEDERAL CREDIT UNION 3 2.25% $2,289
ACCELERATE MORTGAGE, LLC 3 2.79% $6,099
AMERICAN FINANCING CORPORATION 3 2.58% $3,609
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 2.54% $2,218
First Interstate Bank 3 2.67% $6,120
Flagstar Bank, FSB 3 2.54% $10,189
North American Savings Bank, F.S.B. 3 2.42% $4,679
PLANET HOME LENDING, LLC 3 2.58% $2,873
First Savings Bank 2 2.38% $8,980
NETWORK CAPITAL FUNDING CORPORATION 2 2.38% $7,342
GUARANTEED RATE, INC. 2 2.81% $9,297
S1L, Inc. 2 2.88% $5,903
First Home Bank 2 2.25% $9,629
Commerce Home Mortgage, Inc. 2 2.81% $6,481
LEADERONE FINANCIAL CORPORATION 2 2.50% $8,016
PLAZA HOME MORTGAGE, INC. 2 2.38% $2,506
U.S. Bank 2 3.00% $5,243
STEARNS LENDING, LLC 2 2.63% $13,159
NBKC BANK 2 2.63% $2,326
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 3.06% $7,197
OPEN MORTGAGE, LLC 1 3.00% $8,920
First Mortgage Solutions, LLC 1 2.25% $3,668
ACADEMY MORTGAGE CORPORATION 1 2.25% $18,827
ALAMEDA MORTGAGE CORPORATION 1 1.99% $2,621
First Federal Bank 1 2.75% $7,254
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.25% $2,341
FINANCE OF AMERICA MORTGAGE LLC 1 2.75% $5,942
Community First National Bank 1 2.63% $12,101
SEA WEST COAST GUARD FEDERAL CREDIT UNION 1 2.38% $0
Century Mortgage Company DBA Century Lending Company 1 2.75% $4,094
SRE MORTGAGE ALLIANCE INC. 1 2.25% $3,529
CANOPY MORTGAGE, LLC 1 2.13% $4,135
BOKF 1 2.38% $4,756
Texana Bank 1 2.50% $8,454
BAYSHORE MORTGAGE FUNDING, LLC 1 2.38% $1,562
TruHome Solutions, LLC 1 2.75% $2,218
Banner Bank 1 2.25% $19,661
UNITED SECURITY FINANCIAL CORP 1 1.88% $4,841
AXIA FINANCIAL, LLC 1 2.50% $4,062
AmeriHome Mortgage Company, LLC 1 2.99% $1,732
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.75% $4,793
Meridian Bank Corporation 1 2.63% $5,327
Manufacturers and Traders Trust Company 1 2.25% $3,557
MOUNTAIN WEST FINANCIAL, INC. 1 3.00% $7,897
Loan Simple, Inc. 1 2.63% $18,638
LADERA LENDING, INC. 1 2.25% $6,507
KS StateBank 1 3.00% $2,964
Ixonia Bank 1 2.25% $7,611
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.25% $17,961
INTERCAP LENDING INC. 1 2.25% $3,408
HOMESIDE FINANCIAL, LLC 1 2.50% $5,198
Home Mortgage Alliance Corp 1 2.88% $19,537
AMERICAN FINANCIAL RESOURCES, INC. 1 2.25% $6,669
Goldwater Bank, N.A. 1 2.38% $5,288

The top Medford VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 84 VA loans originated. Their average total fees are $3,452, which is $742 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Medford VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($3,164), FREEDOM MORTGAGE CORPORATION ($3,452), USAA Federal Savings Bank ($3,570), MUTUAL OF OMAHA MORTGAGE, INC. ($4,109) and Low VA Rates, LLC ($4,167).

The lowest rate Medford VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.26%), PENNYMAC LOAN SERVICES, LLC (2.31%), QUICKEN LOANS, LLC (2.37%), Low VA Rates, LLC (2.38%) and UNITED WHOLESALE MORTGAGE, LLC (2.38%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Medford (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 $404,900 (4.1%) $600,421 (2.9%) 1.49 764
2018-02-01 $418,750 (5.0%) $612,160 (4.8%) 1.51 779
2018-03-01 $420,000 (5.3%) $605,372 (4.4%) 1.45 821
2018-04-01 $419,500 (2.6%) $585,530 (-1.9%) 1.41 901
2018-05-01 $427,000 (3.5%) $599,884 (1.3%) 1.42 988
2018-06-01 $440,000 (6.9%) $632,008 (7.7%) 1.47 1,048
2018-07-01 $437,450 (9.4%) $591,673 (-1.3%) 1.46 1,146
2018-08-01 $417,000 (4.5%) $577,562 (0.1%) 1.39 1,164
2018-09-01 $415,000 (4.0%) $580,637 (-1.1%) 1.39 1,197
2018-10-01 $404,500 (1.6%) $568,011 (-0.8%) 1.35 1,255
2018-11-01 $406,500 (1.6%) $592,002 (4.6%) 1.36 1,213
2018-12-01 $403,000 (-2.9%) $584,866 (-2.6%) 1.38 1,093
2019-01-01 $400,000 (-1.2%) $572,057 (-4.7%) 1.38 987
2019-02-01 $400,000 (-4.5%) $582,882 (-4.8%) 1.34 1,006
2019-03-01 $413,000 (-1.7%) $594,692 (-1.8%) 1.35 1,059
2019-04-01 $430,000 (2.5%) $601,337 (2.7%) 1.35 1,135
2019-05-01 $445,000 (4.2%) $615,773 (2.7%) 1.37 1,229
2019-06-01 $444,900 (1.1%) $609,790 (-3.5%) 1.37 1,341
2019-07-01 $427,500 (-2.3%) $608,512 (2.9%) 1.33 1,320
2019-08-01 $422,757 (1.4%) $609,682 (5.6%) 1.33 1,276
2019-09-01 $419,450 (1.1%) $609,543 (5.0%) 1.33 1,211
2019-10-01 $404,950 (0.1%) $603,277 (6.2%) 1.29 1,123
2019-11-01 $410,000 (0.9%) $613,346 (3.6%) 1.32 975
2019-12-01 $422,000 (4.7%) $621,302 (6.2%) 1.41 812
2020-01-01 $409,000 (2.3%) $631,258 (10.4%) 1.36 722
2020-02-01 $420,000 (5.0%) $630,202 (8.1%) 1.36 706
2020-03-01 $439,450 (6.4%) $661,104 (11.2%) 1.37 712
2020-04-01 $439,450 (2.2%) $659,406 (9.7%) 1.37 763
2020-05-01 $459,000 (3.2%) $686,313 (11.5%) 1.39 718
2020-06-01 $477,000 (7.2%) $732,613 (20.1%) 1.39 632
2020-07-01 $477,000 (11.6%) $741,067 (21.8%) 1.37 584
2020-08-01 $485,000 (14.7%) $749,542 (22.9%) 1.39 529
2020-09-01 $524,000 (24.9%) $776,106 (27.3%) 1.50 420
2020-10-01 $559,900 (38.3%) $808,742 (34.1%) 1.60 332
2020-11-01 $557,500 (36.0%) $818,819 (33.5%) 1.60 319
2020-12-01 $534,950 (26.8%) $744,511 (19.8%) 1.57 306
2021-01-01 $529,000 (29.3%) $757,870 (20.1%) 1.56 254
2021-02-01 $509,500 (21.3%) $785,503 (24.6%) 1.47 254
2021-03-01 $507,450 (15.5%) $738,577 (11.7%) 1.42 289
2021-04-01 $492,000 (12.0%) $707,489 (7.3%) 1.32 282
2021-05-01 $525,000 (14.4%) $719,245 (4.8%) 1.38 330
2021-06-01 $531,500 (11.4%) $708,081 (-3.4%) 1.38 389
2021-07-01 $525,000 (10.1%) $714,890 (-3.5%) 1.36 422
2021-08-01 $520,000 (7.2%) $703,582 (-6.1%) 1.37 459
2021-09-01 $504,500 (-3.7%) $688,171 (-11.3%) 1.33 508
2021-10-01 $500,000 (-10.7%) $688,911 (-14.8%) 1.32 569
2021-11-01 $522,000 (-6.4%) $705,683 (-13.8%) 1.38 511
2021-12-01 $510,000 (-4.7%) $714,196 (-4.1%) 1.36 425
2022-01-01 $549,900 (4.0%) $745,150 (-1.7%) 1.47 346
2022-02-01 $580,000 (13.8%) $775,328 (-1.3%) 1.48 347
2022-03-01 $552,500 (8.9%) $765,657 (3.7%) 1.36 388
2022-04-01 $565,000 (14.8%) $749,100 (5.9%) 1.33 469
Medford's median listing price for 2022-04-01 was $565,000, a difference of $73,000 (14.8%) versus the prior year and $12,500 versus the prior month.

Medford's median listing price comes in at 133% of the national average.

Medford's average listing price for 2022-04-01 was $749,100, a difference of $41,611 (5.9%) versus the prior year and $-16,557 versus the prior month.

For the 2022-04-01 period, Medford had 469 MLS listings, a difference of 81 listings (21%) versus the prior month and 187 listings (66%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Medford (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 87 days 1,920 sqft
2018-02-01 83 days 1,924 sqft
2018-03-01 68 days 1,964 sqft
2018-04-01 58 days 1,966 sqft
2018-05-01 55 days 2,007 sqft
2018-06-01 54 days 2,052 sqft
2018-07-01 58 days 2,042 sqft
2018-08-01 63 days 2,015 sqft
2018-09-01 77 days 2,000 sqft
2018-10-01 76 days 1,973 sqft
2018-11-01 75 days 1,990 sqft
2018-12-01 85 days 1,944 sqft
2019-01-01 95 days 1,889 sqft
2019-02-01 95 days 1,903 sqft
2019-03-01 69 days 1,918 sqft
2019-04-01 60 days 1,944 sqft
2019-05-01 51 days 2,011 sqft
2019-06-01 54 days 1,998 sqft
2019-07-01 65 days 1,952 sqft
2019-08-01 74 days 1,936 sqft
2019-09-01 80 days 1,930 sqft
2019-10-01 81 days 1,937 sqft
2019-11-01 86 days 1,948 sqft
2019-12-01 90 days 1,904 sqft
2020-01-01 89 days 1,880 sqft
2020-02-01 84 days 1,861 sqft
2020-03-01 56 days 1,918 sqft
2020-04-01 55 days 1,919 sqft
2020-05-01 60 days 2,065 sqft
2020-06-01 65 days 2,133 sqft
2020-07-01 65 days 2,156 sqft
2020-08-01 60 days 2,128 sqft
2020-09-01 62 days 2,213 sqft
2020-10-01 70 days 2,189 sqft
2020-11-01 53 days 2,151 sqft
2020-12-01 58 days 1,979 sqft
2021-01-01 67 days 1,935 sqft
2021-02-01 53 days 1,896 sqft
2021-03-01 43 days 1,933 sqft
2021-04-01 46 days 1,860 sqft
2021-05-01 35 days 1,904 sqft
2021-06-01 41 days 1,881 sqft
2021-07-01 42 days 1,882 sqft
2021-08-01 43 days 1,863 sqft
2021-09-01 46 days 1,846 sqft
2021-10-01 43 days 1,837 sqft
2021-11-01 48 days 1,865 sqft
2021-12-01 57 days 1,826 sqft
2022-01-01 72 days 1,864 sqft
2022-02-01 55 days 1,924 sqft
2022-03-01 40 days 1,844 sqft
2022-04-01 39 days 1,863 sqft
Medford's median listing age (time on market) for 2022-04-01 was 39 days. This is -14% shorter than the same period one year ago.

Medford's median square footage for active listings during the 2022-04-01 period was 1,863 sqft. One year prior, the average listing was 1,860 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.