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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.