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 6.88% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.61% and one month ago for the week of 2024-03-15, the average rate was 6.77%.

    The average rate one year ago was 6.46%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.15%.

    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
    Medford's median listing price for 2024-03-01 was $529,500, a difference of $-12,425 (-2.3%) versus the prior year and $30,027 versus the prior month.

    Medford's median listing price comes in at 125% of the national average.

    Medford's average listing price for 2024-03-01 was $706,215, a difference of $-37,043 (-5.0%) versus the prior year and $21,786 versus the prior month.

    For the 2024-03-01 period, Medford had 597 MLS listings, a difference of 56 listings (10%) versus the prior month and 81 listings (16%) 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
    Medford's median listing age (time on market) for 2024-03-01 was 59 days. This is 0% longer than the same period one year ago.

    Medford's median square footage for active listings during the 2024-03-01 period was 1,836 sqft. One year prior, the average listing was 1,866 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.