Medford VA Loan Rates, Closing Costs & Stats

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 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 6.92% for the week of 2024-05-17, compared to the national average (all VA variants) of 6.502% for the same period.

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

The average rate for the prior week (2024-05-10) was 6.73% and one month ago for the week of 2024-04-12, the average rate was 6.81%.

The average rate one year ago was 6.11%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.8%.

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%).


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 $399,500 (3.3%) $586,557 (2.4%) 1.48 745
2018-02-01 $412,100 (3.4%) $594,461 (3.2%) 1.50 758
2018-03-01 $410,000 (3.8%) $594,480 (5.2%) 1.44 799
2018-04-01 $400,000 (-0.6%) $573,661 (-3.7%) 1.36 877
2018-05-01 $422,000 (4.0%) $583,464 (-0.7%) 1.41 958
2018-06-01 $430,000 (7.5%) $612,892 (5.4%) 1.43 1,004
2018-07-01 $428,125 (7.3%) $586,293 (-0.5%) 1.43 1,096
2018-08-01 $409,475 (3.7%) $567,569 (0.8%) 1.37 1,106
2018-09-01 $400,000 (1.3%) $563,130 (-2.6%) 1.34 1,140
2018-10-01 $399,950 (1.9%) $555,395 (-2.3%) 1.35 1,205
2018-11-01 $399,975 (0.1%) $567,113 (1.2%) 1.36 1,161
2018-12-01 $399,900 (0.0%) $561,137 (-3.9%) 1.38 1,037
2019-01-01 $399,900 (0.1%) $553,816 (-5.6%) 1.38 939
2019-02-01 $399,900 (-3.0%) $558,588 (-6.0%) 1.35 952
2019-03-01 $408,514 (-0.4%) $566,999 (-4.6%) 1.34 1,004
2019-04-01 $424,500 (6.1%) $573,978 (0.1%) 1.35 1,076
2019-05-01 $442,000 (4.7%) $584,820 (0.2%) 1.38 1,166
2019-06-01 $439,000 (2.1%) $582,119 (-5.0%) 1.37 1,266
2019-07-01 $424,500 (-0.9%) $581,144 (-0.9%) 1.33 1,246
2019-08-01 $417,245 (1.9%) $582,603 (2.7%) 1.32 1,202
2019-09-01 $413,114 (3.3%) $585,737 (4.0%) 1.32 1,141
2019-10-01 $404,950 (1.3%) $583,366 (5.0%) 1.31 1,096
2019-11-01 $407,000 (1.8%) $586,971 (3.5%) 1.33 956
2019-12-01 $408,500 (2.2%) $596,749 (6.4%) 1.36 795
2020-01-01 $399,950 (0.0%) $604,484 (9.2%) 1.34 703
2020-02-01 $416,450 (4.1%) $610,166 (9.2%) 1.36 692
2020-03-01 $437,000 (7.0%) $639,712 (12.8%) 1.37 699
2020-04-01 $435,000 (2.5%) $636,647 (10.9%) 1.36 752
2020-05-01 $449,450 (1.7%) $646,115 (10.5%) 1.37 701
2020-06-01 $460,750 (5.0%) $665,598 (14.3%) 1.36 615
2020-07-01 $460,950 (8.6%) $668,741 (15.1%) 1.34 562
2020-08-01 $475,000 (13.8%) $666,949 (14.5%) 1.36 506
2020-09-01 $484,000 (17.2%) $681,578 (16.4%) 1.39 402
2020-10-01 $484,900 (19.7%) $684,225 (17.3%) 1.39 321
2020-11-01 $486,500 (19.5%) $692,166 (17.9%) 1.42 311
2020-12-01 $499,500 (22.3%) $671,052 (12.5%) 1.49 294
2021-01-01 $500,000 (25.0%) $688,603 (13.9%) 1.49 246
2021-02-01 $503,625 (20.9%) $722,127 (18.4%) 1.47 244
2021-03-01 $499,000 (14.2%) $680,957 (6.5%) 1.42 278
2021-04-01 $483,750 (11.2%) $663,530 (4.2%) 1.31 272
2021-05-01 $518,000 (15.3%) $686,912 (6.3%) 1.38 316
2021-06-01 $525,000 (13.9%) $679,280 (2.1%) 1.38 376
2021-07-01 $512,000 (11.1%) $679,957 (1.7%) 1.35 417
2021-08-01 $514,000 (8.2%) $673,208 (0.9%) 1.37 449
2021-09-01 $499,500 (3.2%) $658,231 (-3.4%) 1.33 498
2021-10-01 $510,000 (5.2%) $666,876 (-2.5%) 1.36 557
2021-11-01 $523,500 (7.6%) $694,541 (0.3%) 1.40 499
2021-12-01 $512,500 (2.6%) $709,732 (5.8%) 1.39 416
2022-01-01 $549,250 (9.9%) $743,280 (7.9%) 1.48 341
2022-02-01 $577,425 (14.7%) $768,770 (6.5%) 1.50 341
2022-03-01 $550,000 (10.2%) $748,428 (9.9%) 1.38 376
2022-04-01 $552,500 (14.2%) $727,212 (9.6%) 1.32 464
2022-05-01 $556,250 (7.4%) $717,151 (4.4%) 1.27 605
2022-06-01 $557,500 (6.2%) $720,456 (6.1%) 1.24 716
2022-07-01 $535,000 (4.5%) $699,466 (2.9%) 1.21 839
2022-08-01 $529,450 (3.0%) $698,940 (3.8%) 1.22 836
2022-09-01 $528,750 (5.9%) $695,272 (5.6%) 1.24 766
2022-10-01 $534,900 (4.9%) $719,484 (7.9%) 1.26 745
2022-11-01 $524,975 (0.3%) $706,794 (1.8%) 1.26 706
2022-12-01 $510,000 (-0.5%) $715,888 (0.9%) 1.26 626
2023-01-01 $517,225 (-5.8%) $723,692 (-2.6%) 1.28 533
2023-02-01 $548,000 (-5.1%) $753,862 (-1.9%) 1.32 501
2023-03-01 $541,925 (-1.5%) $743,258 (-0.7%) 1.28 516
2023-04-01 $544,950 (-1.4%) $738,022 (1.5%) 1.27 532
2023-05-01 $549,000 (-1.3%) $741,518 (3.4%) 1.24 624
2023-06-01 $552,500 (-0.9%) $767,250 (6.5%) 1.24 675
2023-07-01 $549,900 (2.8%) $753,810 (7.8%) 1.25 706
2023-08-01 $550,000 (3.9%) $741,088 (6.0%) 1.26 679
2023-09-01 $535,000 (1.2%) $710,473 (2.2%) 1.25 696
2023-10-01 $505,000 (-5.6%) $685,860 (-4.7%) 1.19 725
2023-11-01 $525,000 (0.0%) $718,529 (1.7%) 1.25 673
2023-12-01 $514,500 (0.9%) $700,194 (-2.2%) 1.25 628
2024-01-01 $499,000 (-3.5%) $687,083 (-5.1%) 1.22 562
2024-02-01 $499,473 (-8.9%) $684,429 (-9.2%) 1.20 541
2024-03-01 $529,500 (-2.3%) $706,215 (-5.0%) 1.25 597
2024-04-01 $526,750 (-3.3%) $715,120 (-3.1%) 1.23 672
Medford's median listing price for 2024-04-01 was $526,750, a difference of $-18,200 (-3.3%) versus the prior year and $-2,750 versus the prior month.

Medford's median listing price comes in at 123% of the national average.

Medford's average listing price for 2024-04-01 was $715,120, a difference of $-22,902 (-3.1%) versus the prior year and $8,905 versus the prior month.

For the 2024-04-01 period, Medford had 672 MLS listings, a difference of 75 listings (13%) versus the prior month and 140 listings (26%) 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 80 days 1,900 sqft
2018-02-01 74 days 1,911 sqft
2018-03-01 61 days 1,931 sqft
2018-04-01 50 days 1,936 sqft
2018-05-01 50 days 1,987 sqft
2018-06-01 51 days 2,026 sqft
2018-07-01 53 days 2,016 sqft
2018-08-01 59 days 1,982 sqft
2018-09-01 71 days 1,962 sqft
2018-10-01 71 days 1,937 sqft
2018-11-01 67 days 1,946 sqft
2018-12-01 78 days 1,918 sqft
2019-01-01 87 days 1,881 sqft
2019-02-01 83 days 1,889 sqft
2019-03-01 69 days 1,903 sqft
2019-04-01 52 days 1,930 sqft
2019-05-01 45 days 1,999 sqft
2019-06-01 50 days 1,981 sqft
2019-07-01 59 days 1,938 sqft
2019-08-01 65 days 1,933 sqft
2019-09-01 70 days 1,943 sqft
2019-10-01 73 days 1,937 sqft
2019-11-01 75 days 1,938 sqft
2019-12-01 78 days 1,874 sqft
2020-01-01 80 days 1,860 sqft
2020-02-01 72 days 1,858 sqft
2020-03-01 45 days 1,909 sqft
2020-04-01 49 days 1,907 sqft
2020-05-01 60 days 2,026 sqft
2020-06-01 69 days 2,056 sqft
2020-07-01 69 days 2,086 sqft
2020-08-01 61 days 2,071 sqft
2020-09-01 68 days 2,113 sqft
2020-10-01 78 days 2,042 sqft
2020-11-01 59 days 1,984 sqft
2020-12-01 57 days 1,914 sqft
2021-01-01 66 days 1,893 sqft
2021-02-01 44 days 1,872 sqft
2021-03-01 39 days 1,906 sqft
2021-04-01 43 days 1,846 sqft
2021-05-01 33 days 1,882 sqft
2021-06-01 38 days 1,882 sqft
2021-07-01 39 days 1,879 sqft
2021-08-01 43 days 1,868 sqft
2021-09-01 43 days 1,848 sqft
2021-10-01 44 days 1,838 sqft
2021-11-01 54 days 1,869 sqft
2021-12-01 67 days 1,835 sqft
2022-01-01 75 days 1,865 sqft
2022-02-01 54 days 1,927 sqft
2022-03-01 40 days 1,841 sqft
2022-04-01 38 days 1,860 sqft
2022-05-01 36 days 1,851 sqft
2022-06-01 40 days 1,882 sqft
2022-07-01 46 days 1,825 sqft
2022-08-01 56 days 1,825 sqft
2022-09-01 65 days 1,811 sqft
2022-10-01 73 days 1,829 sqft
2022-11-01 80 days 1,836 sqft
2022-12-01 86 days 1,796 sqft
2023-01-01 94 days 1,822 sqft
2023-02-01 92 days 1,858 sqft
2023-03-01 59 days 1,866 sqft
2023-04-01 53 days 1,840 sqft
2023-05-01 49 days 1,858 sqft
2023-06-01 49 days 1,891 sqft
2023-07-01 56 days 1,894 sqft
2023-08-01 62 days 1,890 sqft
2023-09-01 64 days 1,886 sqft
2023-10-01 65 days 1,828 sqft
2023-11-01 72 days 1,828 sqft
2023-12-01 78 days 1,798 sqft
2024-01-01 84 days 1,785 sqft
2024-02-01 82 days 1,777 sqft
2024-03-01 59 days 1,836 sqft
2024-04-01 49 days 1,852 sqft
Medford's median listing age (time on market) for 2024-04-01 was 49 days. This is -6% shorter than the same period one year ago.

Medford's median square footage for active listings during the 2024-04-01 period was 1,852 sqft. One year prior, the average listing was 1,840 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.