Modesto VA Loan Rates, Closing Costs & Stats
MODESTO, CA
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.
Modesto's 52 lenders originated 237 VA loans during 2023. The total origination value was $109,275,000, with an average VA loan value of $461,076.
Modesto VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Modesto
averaged
5.88%
for the week of 2024-10-11, compared to the national average (all VA variants) of
5.854% for the same period.
Modesto's average VA mortgage closing costs are $7,357.
The average rate for the prior week (2024-10-04) was
5.55% and
one month ago for the week of 2024-09-06, the
average rate was 5.84%.
The average rate one year ago was 7.11%.
For refis of the same type during the week of 2024-10-11, the average rate
was 6.13%.
Modesto 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 Modesto level.
The top Modesto VA lender as defined by loan originations is Mortgage Research Center, LLC, with
38 VA loans originated. Their average total fees are
$9,849, which is $189
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Modesto VA lenders (with over 10 loans originated) are
LOANDEPOT.COM, LLC ($9,247), UNITED WHOLESALE MORTGAGE, LLC ($9,660), Mortgage Research Center, LLC ($9,849), Century Mortgage Company DBA Century Lending Company ($9,995) and QUICKEN LOANS, LLC ($12,341).
The lowest rate Modesto VA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.13%), Century Mortgage Company DBA Century Lending Company (6.19%), UNITED WHOLESALE MORTGAGE, LLC (6.19%), SCENIC OAKS FUNDING, INC. (6.33%) and AMERICAN PACIFIC MORTGAGE CORPORATION (6.35%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Modesto (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 | $346,500 (14.6%) | $435,301 (9.6%) | 1.28 | 643 |
2018-02-01 | $346,875 (11.9%) | $423,147 (4.2%) | 1.26 | 681 |
2018-03-01 | $353,000 (10.8%) | $449,092 (10.6%) | 1.24 | 722 |
2018-04-01 | $359,500 (10.6%) | $454,420 (10.9%) | 1.22 | 753 |
2018-05-01 | $364,950 (10.8%) | $450,889 (9.2%) | 1.22 | 842 |
2018-06-01 | $355,000 (6.1%) | $430,577 (4.4%) | 1.18 | 957 |
2018-07-01 | $354,900 (7.6%) | $425,911 (2.8%) | 1.19 | 1,005 |
2018-08-01 | $350,000 (7.0%) | $423,132 (1.6%) | 1.17 | 1,106 |
2018-09-01 | $349,000 (5.8%) | $420,435 (2.2%) | 1.17 | 1,086 |
2018-10-01 | $339,913 (3.0%) | $411,327 (0.3%) | 1.15 | 1,102 |
2018-11-01 | $339,900 (0.9%) | $416,682 (0.9%) | 1.15 | 1,079 |
2018-12-01 | $340,000 (0.0%) | $413,623 (-3.2%) | 1.17 | 1,026 |
2019-01-01 | $339,985 (-1.9%) | $413,501 (-5.0%) | 1.17 | 925 |
2019-02-01 | $344,611 (-0.7%) | $416,321 (-1.6%) | 1.16 | 887 |
2019-03-01 | $356,371 (1.0%) | $426,391 (-5.1%) | 1.17 | 836 |
2019-04-01 | $365,000 (1.5%) | $441,712 (-2.8%) | 1.16 | 806 |
2019-05-01 | $365,000 (0.0%) | $441,618 (-2.1%) | 1.14 | 865 |
2019-06-01 | $369,950 (4.2%) | $456,546 (6.0%) | 1.16 | 879 |
2019-07-01 | $374,400 (5.5%) | $463,568 (8.8%) | 1.17 | 851 |
2019-08-01 | $375,836 (7.4%) | $461,688 (9.1%) | 1.19 | 870 |
2019-09-01 | $369,741 (5.9%) | $448,629 (6.7%) | 1.18 | 897 |
2019-10-01 | $367,677 (8.2%) | $441,824 (7.4%) | 1.19 | 886 |
2019-11-01 | $369,000 (8.6%) | $438,366 (5.2%) | 1.21 | 794 |
2019-12-01 | $368,950 (8.5%) | $449,597 (8.7%) | 1.23 | 640 |
2020-01-01 | $372,000 (9.4%) | $452,766 (9.5%) | 1.24 | 575 |
2020-02-01 | $375,120 (8.9%) | $474,080 (13.9%) | 1.23 | 538 |
2020-03-01 | $389,225 (9.2%) | $473,800 (11.1%) | 1.22 | 610 |
2020-04-01 | $377,250 (3.4%) | $456,612 (3.4%) | 1.18 | 667 |
2020-05-01 | $377,000 (3.3%) | $465,429 (5.4%) | 1.15 | 661 |
2020-06-01 | $392,450 (6.1%) | $479,783 (5.1%) | 1.16 | 486 |
2020-07-01 | $402,225 (7.4%) | $529,779 (14.3%) | 1.17 | 411 |
2020-08-01 | $419,000 (11.5%) | $547,642 (18.6%) | 1.20 | 356 |
2020-09-01 | $417,225 (12.8%) | $536,714 (19.6%) | 1.20 | 374 |
2020-10-01 | $418,888 (13.9%) | $550,968 (24.7%) | 1.20 | 399 |
2020-11-01 | $422,500 (14.5%) | $556,940 (27.1%) | 1.24 | 410 |
2020-12-01 | $431,235 (16.9%) | $589,424 (31.1%) | 1.28 | 354 |
2021-01-01 | $439,000 (18.0%) | $619,061 (36.7%) | 1.31 | 299 |
2021-02-01 | $429,950 (14.6%) | $622,412 (31.3%) | 1.25 | 265 |
2021-03-01 | $443,500 (13.9%) | $639,943 (35.1%) | 1.26 | 267 |
2021-04-01 | $445,600 (18.1%) | $609,410 (33.5%) | 1.21 | 299 |
2021-05-01 | $449,800 (19.3%) | $614,325 (32.0%) | 1.19 | 320 |
2021-06-01 | $448,425 (14.3%) | $598,953 (24.8%) | 1.18 | 379 |
2021-07-01 | $449,900 (11.9%) | $584,241 (10.3%) | 1.19 | 451 |
2021-08-01 | $460,000 (9.8%) | $580,082 (5.9%) | 1.23 | 495 |
2021-09-01 | $464,500 (11.3%) | $569,751 (6.2%) | 1.24 | 481 |
2021-10-01 | $472,450 (12.8%) | $579,129 (5.1%) | 1.26 | 526 |
2021-11-01 | $482,450 (14.2%) | $591,879 (6.3%) | 1.29 | 467 |
2021-12-01 | $481,315 (11.6%) | $597,951 (1.5%) | 1.30 | 352 |
2022-01-01 | $479,925 (9.3%) | $600,753 (-3.0%) | 1.30 | 290 |
2022-02-01 | $489,500 (13.9%) | $612,804 (-1.5%) | 1.27 | 279 |
2022-03-01 | $494,225 (11.4%) | $624,146 (-2.5%) | 1.24 | 291 |
2022-04-01 | $499,000 (12.0%) | $630,535 (3.5%) | 1.19 | 337 |
2022-05-01 | $499,950 (11.2%) | $639,979 (4.2%) | 1.14 | 475 |
2022-06-01 | $494,475 (10.3%) | $598,062 (-0.2%) | 1.10 | 607 |
2022-07-01 | $480,000 (6.7%) | $553,414 (-5.3%) | 1.08 | 762 |
2022-08-01 | $475,000 (3.3%) | $549,208 (-5.3%) | 1.10 | 824 |
2022-09-01 | $472,500 (1.7%) | $544,610 (-4.4%) | 1.10 | 789 |
2022-10-01 | $470,000 (-0.5%) | $552,066 (-4.7%) | 1.11 | 743 |
2022-11-01 | $472,500 (-2.1%) | $564,609 (-4.6%) | 1.14 | 653 |
2022-12-01 | $480,000 (-0.3%) | $588,001 (-1.7%) | 1.19 | 542 |
2023-01-01 | $488,871 (1.9%) | $595,593 (-0.9%) | 1.21 | 456 |
2023-02-01 | $489,499 (0.0%) | $597,835 (-2.4%) | 1.18 | 417 |
2023-03-01 | $499,993 (1.2%) | $610,642 (-2.2%) | 1.18 | 363 |
2023-04-01 | $520,000 (4.2%) | $612,746 (-2.8%) | 1.21 | 319 |
2023-05-01 | $530,000 (6.0%) | $627,971 (-1.9%) | 1.20 | 322 |
2023-06-01 | $531,200 (7.4%) | $619,455 (3.6%) | 1.19 | 358 |
2023-07-01 | $522,450 (8.8%) | $612,921 (10.8%) | 1.19 | 414 |
2023-08-01 | $516,250 (8.7%) | $624,545 (13.7%) | 1.19 | 441 |
2023-09-01 | $504,500 (6.8%) | $624,643 (14.7%) | 1.17 | 448 |
2023-10-01 | $519,987 (10.6%) | $628,522 (13.9%) | 1.22 | 488 |
2023-11-01 | $499,987 (5.8%) | $618,671 (9.6%) | 1.19 | 505 |
2023-12-01 | $509,995 (6.3%) | $628,165 (6.8%) | 1.24 | 460 |
2024-01-01 | $522,500 (6.9%) | $625,522 (5.0%) | 1.28 | 416 |
2024-02-01 | $525,000 (7.3%) | $622,800 (4.2%) | 1.26 | 385 |
2024-03-01 | $519,999 (4.0%) | $625,227 (2.4%) | 1.22 | 448 |
2024-04-01 | $529,000 (1.7%) | $635,737 (3.8%) | 1.23 | 496 |
2024-05-01 | $535,000 (0.9%) | $628,863 (0.1%) | 1.21 | 539 |
2024-06-01 | $530,000 (-0.2%) | $620,549 (0.2%) | 1.19 | 577 |
2024-07-01 | $529,923 (1.4%) | $630,957 (2.9%) | 1.21 | 632 |
2024-08-01 | $534,999 (3.6%) | $620,420 (-0.7%) | 1.24 | 684 |
2024-09-01 | $528,950 (4.9%) | $610,897 (-2.2%) | 1.24 | 698 |
Modesto's median listing price comes in at 124% of the national average.
Modesto's average listing price for 2024-09-01 was $610,897, a difference of $-13,746 (-2.2%) versus the prior year and $-9,523 versus the prior month.
For the 2024-09-01 period, Modesto had 698 MLS listings, a difference of 14 listings (2%) versus the prior month and 250 listings (56%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Modesto (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 57 days | 1,837 sqft |
2018-02-01 | 37 days | 1,778 sqft |
2018-03-01 | 35 days | 1,837 sqft |
2018-04-01 | 35 days | 1,862 sqft |
2018-05-01 | 33 days | 1,870 sqft |
2018-06-01 | 34 days | 1,835 sqft |
2018-07-01 | 37 days | 1,829 sqft |
2018-08-01 | 37 days | 1,810 sqft |
2018-09-01 | 38 days | 1,767 sqft |
2018-10-01 | 42 days | 1,715 sqft |
2018-11-01 | 45 days | 1,704 sqft |
2018-12-01 | 54 days | 1,712 sqft |
2019-01-01 | 57 days | 1,695 sqft |
2019-02-01 | 47 days | 1,713 sqft |
2019-03-01 | 42 days | 1,755 sqft |
2019-04-01 | 40 days | 1,816 sqft |
2019-05-01 | 39 days | 1,813 sqft |
2019-06-01 | 39 days | 1,849 sqft |
2019-07-01 | 43 days | 1,863 sqft |
2019-08-01 | 44 days | 1,865 sqft |
2019-09-01 | 43 days | 1,838 sqft |
2019-10-01 | 45 days | 1,822 sqft |
2019-11-01 | 52 days | 1,844 sqft |
2019-12-01 | 65 days | 1,834 sqft |
2020-01-01 | 67 days | 1,833 sqft |
2020-02-01 | 45 days | 1,856 sqft |
2020-03-01 | 35 days | 1,888 sqft |
2020-04-01 | 43 days | 1,828 sqft |
2020-05-01 | 57 days | 1,853 sqft |
2020-06-01 | 63 days | 1,882 sqft |
2020-07-01 | 53 days | 1,902 sqft |
2020-08-01 | 35 days | 1,948 sqft |
2020-09-01 | 32 days | 1,844 sqft |
2020-10-01 | 32 days | 1,836 sqft |
2020-11-01 | 37 days | 1,851 sqft |
2020-12-01 | 42 days | 1,844 sqft |
2021-01-01 | 46 days | 1,845 sqft |
2021-02-01 | 34 days | 1,788 sqft |
2021-03-01 | 32 days | 1,841 sqft |
2021-04-01 | 30 days | 1,847 sqft |
2021-05-01 | 26 days | 1,789 sqft |
2021-06-01 | 25 days | 1,737 sqft |
2021-07-01 | 26 days | 1,754 sqft |
2021-08-01 | 26 days | 1,790 sqft |
2021-09-01 | 30 days | 1,724 sqft |
2021-10-01 | 30 days | 1,762 sqft |
2021-11-01 | 37 days | 1,745 sqft |
2021-12-01 | 42 days | 1,770 sqft |
2022-01-01 | 40 days | 1,763 sqft |
2022-02-01 | 29 days | 1,739 sqft |
2022-03-01 | 26 days | 1,750 sqft |
2022-04-01 | 25 days | 1,718 sqft |
2022-05-01 | 23 days | 1,755 sqft |
2022-06-01 | 25 days | 1,725 sqft |
2022-07-01 | 30 days | 1,695 sqft |
2022-08-01 | 37 days | 1,663 sqft |
2022-09-01 | 44 days | 1,661 sqft |
2022-10-01 | 46 days | 1,663 sqft |
2022-11-01 | 54 days | 1,662 sqft |
2022-12-01 | 64 days | 1,678 sqft |
2023-01-01 | 60 days | 1,712 sqft |
2023-02-01 | 51 days | 1,737 sqft |
2023-03-01 | 40 days | 1,794 sqft |
2023-04-01 | 36 days | 1,824 sqft |
2023-05-01 | 35 days | 1,822 sqft |
2023-06-01 | 32 days | 1,866 sqft |
2023-07-01 | 33 days | 1,860 sqft |
2023-08-01 | 34 days | 1,832 sqft |
2023-09-01 | 37 days | 1,786 sqft |
2023-10-01 | 37 days | 1,829 sqft |
2023-11-01 | 42 days | 1,787 sqft |
2023-12-01 | 49 days | 1,753 sqft |
2024-01-01 | 47 days | 1,805 sqft |
2024-02-01 | 42 days | 1,809 sqft |
2024-03-01 | 33 days | 1,783 sqft |
2024-04-01 | 33 days | 1,835 sqft |
2024-05-01 | 27 days | 1,796 sqft |
2024-06-01 | 32 days | 1,798 sqft |
2024-07-01 | 39 days | 1,781 sqft |
2024-08-01 | 42 days | 1,798 sqft |
2024-09-01 | 43 days | 1,765 sqft |
Modesto's median square footage for active listings during the 2024-09-01 period was 1,765 sqft. One year prior, the average listing was 1,786 sqft.