Newport VA Loan Rates, Closing Costs & Stats

Newport, 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.

Newport's 33 lenders originated 61 VA loans during 2023. The total origination value was $23,965,000, with an average VA loan value of $392,869.

Newport VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Newport averaged 0.38% for the week of 2024-11-29, compared to the national average (all VA variants) of 0% for the same period.

Newport's average VA mortgage closing costs are $7,210.

The average rate for the prior week (2024-11-22) was 6.95% and one month ago for the week of 2024-10-25, the average rate was 6.44%.

The average rate one year ago was 7.08%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.2%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Newport 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 Newport level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 8 6.07% $10,471
ENVOY MORTGAGE, LTD 4 6.56% $6,685
NAVY FEDERAL CREDIT UNION 3 5.75% $6,580
QUICKEN LOANS, LLC 3 6.42% $11,212
Sierra Pacific Mortgage Company, Inc. 3 6.29% $6,456
FREEDOM MORTGAGE CORPORATION 3 6.29% $14,911
USAA Federal Savings Bank 3 6.17% $12,460
GUILD MORTGAGE COMPANY 2 7.13% $18,696
Mortgage Research Center, LLC 2 7.63% $11,353
NEWREZ LLC 2 6.75% $12,026
PENNYMAC LOAN SERVICES, LLC 2 5.75% $20,897
NEW DAY FINANCIAL, LLC 2 7.50% $13,915
S1L, Inc. 2 7.25% $6,628
NATIONS DIRECT MORTGAGE, LLC 2 6.13% $3,689
SOVEREIGN LENDING GROUP INCORPORATED 1 5.13% $17,673
The Federal Savings Bank 1 5.63% $17,189
Umpqua Bank 1 7.38% $9,613
VILLAGE CAPITAL MORTGAGE 1 7.50% $9,037
AMERICAN FINANCING CORPORATION 1 6.13% $11,507
Wells Fargo Bank 1 6.88% $18,320
Barrington Bank & Trust Company, N.A. 1 6.25% $6,168
CARDINAL FINANCIAL 1 7.63% $4,173
Century Mortgage Company DBA Century Lending Company 1 6.00% $11,237
CROSSCOUNTRY MORTGAGE, LLC 1 6.13% $10,456
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 6.25% $26,537
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.75% $12,768
Glacier Bank 1 6.50% $10,381
Hometown Equity Mortgage, LLC 1 6.75% $45,359
INTERCAP LENDING INC. 1 6.63% $3,312
LPMC, LLC 1 6.50% $1,032
MANN FINANCIAL INC. 1 5.50% $26,692
MOVEMENT MORTGAGE, LLC 1 6.75% $11,407
Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $41,090

The top Newport VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 8 VA loans originated. Their average total fees are $10,471, which is $3,785 higher than the next largest lender, ENVOY MORTGAGE, LTD.

The lowest fee Newport VA lenders (with over 10 loans originated) are .

The lowest rate Newport VA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Newport (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 $375,975 (5.7%) $456,681 (9.6%) 0.00 518
2018-02-01 $388,625 (8.0%) $462,853 (9.8%) 0.00 504
2018-03-01 $386,250 (7.4%) $460,699 (9.2%) 0.00 534
2018-04-01 $384,000 (6.8%) $460,597 (10.8%) 0.00 575
2018-05-01 $384,500 (3.4%) $468,669 (8.6%) 0.00 604
2018-06-01 $379,000 (3.3%) $455,888 (5.2%) 0.00 656
2018-07-01 $382,000 (4.7%) $463,188 (7.2%) 0.00 658
2018-08-01 $389,500 (3.9%) $473,924 (7.5%) 0.00 631
2018-09-01 $397,900 (5.0%) $472,326 (5.3%) 0.00 617
2018-10-01 $389,000 (0.0%) $478,352 (4.9%) 0.00 539
2018-11-01 $396,250 (1.8%) $484,038 (5.1%) 0.00 502
2018-12-01 $399,000 (3.8%) $490,034 (6.9%) 0.00 477
2019-01-01 $399,000 (6.1%) $496,256 (8.7%) 0.00 429
2019-02-01 $399,000 (2.7%) $494,402 (6.8%) 0.00 462
2019-03-01 $402,429 (4.2%) $486,238 (5.5%) 0.00 480
2019-04-01 $406,429 (5.8%) $483,405 (5.0%) 0.00 496
2019-05-01 $399,450 (3.9%) $462,321 (-1.4%) 0.00 510
2019-06-01 $399,000 (5.3%) $465,158 (2.0%) 0.00 552
2019-07-01 $399,000 (4.5%) $467,988 (1.0%) 0.00 574
2019-08-01 $396,273 (1.7%) $463,810 (-2.1%) 0.00 575
2019-09-01 $392,182 (-1.4%) $462,999 (-2.0%) 0.00 563
2019-10-01 $392,455 (0.9%) $467,519 (-2.3%) 0.00 551
2019-11-01 $399,000 (0.7%) $485,254 (0.3%) 0.00 495
2019-12-01 $399,475 (0.1%) $491,619 (0.3%) 0.00 431
2020-01-01 $399,500 (0.1%) $497,139 (0.2%) 0.00 387
2020-02-01 $384,950 (-3.5%) $487,382 (-1.4%) 0.00 380
2020-03-01 $384,225 (-4.5%) $474,460 (-2.4%) 0.00 417
2020-04-01 $377,450 (-7.1%) $466,095 (-3.6%) 0.00 420
2020-05-01 $387,000 (-3.1%) $476,645 (3.1%) 0.00 410
2020-06-01 $392,000 (-1.8%) $471,174 (1.3%) 0.00 396
2020-07-01 $406,000 (1.8%) $493,002 (5.4%) 0.00 365
2020-08-01 $445,000 (12.3%) $532,207 (14.8%) 0.00 275
2020-09-01 $446,700 (13.9%) $551,727 (19.2%) 0.00 232
2020-10-01 $445,000 (13.4%) $563,832 (20.6%) 0.00 223
2020-11-01 $442,475 (10.9%) $561,956 (15.8%) 0.00 199
2020-12-01 $442,325 (10.7%) $575,561 (17.1%) 0.00 162
2021-01-01 $499,950 (25.1%) $587,175 (18.1%) 0.00 115
2021-02-01 $455,075 (18.2%) $613,879 (26.0%) 0.00 121
2021-03-01 $472,225 (22.9%) $601,227 (26.7%) 0.00 128
2021-04-01 $532,250 (41.0%) $651,099 (39.7%) 0.00 150
2021-05-01 $533,000 (37.7%) $677,225 (42.1%) 0.00 151
2021-06-01 $555,000 (41.6%) $685,657 (45.5%) 0.00 165
2021-07-01 $530,000 (30.5%) $664,561 (34.8%) 0.00 178
2021-08-01 $571,250 (28.4%) $722,649 (35.8%) 0.00 183
2021-09-01 $584,475 (30.8%) $724,435 (31.3%) 0.00 183
2021-10-01 $580,100 (30.4%) $737,576 (30.8%) 0.00 171
2021-11-01 $566,975 (28.1%) $730,956 (30.1%) 0.00 160
2021-12-01 $573,725 (29.7%) $751,893 (30.6%) 0.00 124
2022-01-01 $569,900 (14.0%) $731,461 (24.6%) 0.00 124
2022-02-01 $583,725 (28.3%) $703,729 (14.6%) 0.00 117
2022-03-01 $546,800 (15.8%) $682,830 (13.6%) 0.00 121
2022-04-01 $599,900 (12.7%) $696,465 (7.0%) 0.00 139
2022-05-01 $599,000 (12.4%) $648,464 (-4.3%) 0.00 173
2022-06-01 $542,000 (-2.3%) $620,554 (-9.5%) 0.00 226
2022-07-01 $550,000 (3.8%) $645,046 (-2.9%) 0.00 277
2022-08-01 $599,000 (4.9%) $698,617 (-3.3%) 0.00 297
2022-09-01 $572,719 (-2.0%) $691,819 (-4.5%) 0.00 291
2022-10-01 $549,500 (-5.3%) $673,715 (-8.7%) 0.00 273
2022-11-01 $538,500 (-5.0%) $642,340 (-12.1%) 0.00 258
2022-12-01 $529,000 (-7.8%) $653,006 (-13.2%) 0.00 238
2023-01-01 $507,500 (-11.0%) $641,762 (-12.3%) 0.00 218
2023-02-01 $522,500 (-10.5%) $676,059 (-3.9%) 0.00 218
2023-03-01 $583,750 (6.8%) $708,357 (3.7%) 0.00 229
2023-04-01 $591,950 (-1.3%) $708,985 (1.8%) 0.00 243
2023-05-01 $619,000 (3.3%) $718,762 (10.8%) 0.00 269
2023-06-01 $599,450 (10.6%) $716,179 (15.4%) 0.00 321
2023-07-01 $599,900 (9.1%) $707,213 (9.6%) 0.00 378
2023-08-01 $587,000 (-2.0%) $687,922 (-1.5%) 0.00 375
2023-09-01 $589,000 (2.8%) $693,437 (0.2%) 0.00 355
2023-10-01 $596,000 (8.5%) $700,586 (4.0%) 0.00 350
2023-11-01 $598,750 (11.2%) $706,492 (10.0%) 0.00 324
2023-12-01 $592,450 (12.0%) $707,924 (8.4%) 0.00 285
2024-01-01 $585,000 (15.3%) $688,660 (7.3%) 0.00 277
2024-02-01 $585,000 (12.0%) $666,231 (-1.5%) 0.00 295
2024-03-01 $595,000 (1.9%) $670,527 (-5.3%) 0.00 308
2024-04-01 $591,250 (-0.1%) $667,250 (-5.9%) 0.00 358
2024-05-01 $599,000 (-3.2%) $686,253 (-4.5%) 0.00 382
2024-06-01 $610,000 (1.8%) $700,322 (-2.2%) 0.00 430
2024-07-01 $620,329 (3.4%) $711,431 (0.6%) 0.00 472
2024-08-01 $625,000 (6.5%) $722,514 (5.0%) 0.00 479
2024-09-01 $625,000 (6.1%) $723,169 (4.3%) 0.00 481
2024-10-01 $605,000 (1.5%) $722,738 (3.2%) 0.00 470
Newport's median listing price for 2024-10-01 was $605,000, a difference of $9,000 (1.5%) versus the prior year and $-20,000 versus the prior month.

Newport's median listing price comes in at 0% of the national average.

Newport's average listing price for 2024-10-01 was $722,738, a difference of $22,152 (3.2%) versus the prior year and $-431 versus the prior month.

For the 2024-10-01 period, Newport had 470 MLS listings, a difference of -11 listings (-2%) versus the prior month and 120 listings (34%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Newport (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,858 sqft
2018-02-01 0 days 1,870 sqft
2018-03-01 0 days 1,848 sqft
2018-04-01 0 days 1,838 sqft
2018-05-01 0 days 1,858 sqft
2018-06-01 0 days 1,810 sqft
2018-07-01 0 days 1,841 sqft
2018-08-01 0 days 1,856 sqft
2018-09-01 0 days 1,832 sqft
2018-10-01 0 days 1,864 sqft
2018-11-01 0 days 1,855 sqft
2018-12-01 0 days 1,810 sqft
2019-01-01 0 days 1,830 sqft
2019-02-01 0 days 1,796 sqft
2019-03-01 0 days 1,810 sqft
2019-04-01 0 days 1,802 sqft
2019-05-01 0 days 1,764 sqft
2019-06-01 0 days 1,820 sqft
2019-07-01 0 days 1,802 sqft
2019-08-01 0 days 1,761 sqft
2019-09-01 0 days 1,741 sqft
2019-10-01 0 days 1,737 sqft
2019-11-01 0 days 1,751 sqft
2019-12-01 0 days 1,753 sqft
2020-01-01 0 days 1,756 sqft
2020-02-01 0 days 1,704 sqft
2020-03-01 0 days 1,705 sqft
2020-04-01 0 days 1,687 sqft
2020-05-01 0 days 1,684 sqft
2020-06-01 0 days 1,691 sqft
2020-07-01 0 days 1,740 sqft
2020-08-01 0 days 1,782 sqft
2020-09-01 0 days 1,787 sqft
2020-10-01 0 days 1,807 sqft
2020-11-01 0 days 1,805 sqft
2020-12-01 0 days 1,908 sqft
2021-01-01 0 days 1,858 sqft
2021-02-01 0 days 1,733 sqft
2021-03-01 0 days 1,840 sqft
2021-04-01 0 days 1,828 sqft
2021-05-01 0 days 1,792 sqft
2021-06-01 0 days 1,786 sqft
2021-07-01 0 days 1,792 sqft
2021-08-01 0 days 1,868 sqft
2021-09-01 0 days 1,886 sqft
2021-10-01 0 days 1,907 sqft
2021-11-01 0 days 1,876 sqft
2021-12-01 0 days 1,897 sqft
2022-01-01 0 days 1,751 sqft
2022-02-01 0 days 1,744 sqft
2022-03-01 0 days 1,686 sqft
2022-04-01 0 days 1,736 sqft
2022-05-01 0 days 1,665 sqft
2022-06-01 0 days 1,600 sqft
2022-07-01 0 days 1,652 sqft
2022-08-01 0 days 1,676 sqft
2022-09-01 0 days 1,667 sqft
2022-10-01 0 days 1,624 sqft
2022-11-01 0 days 1,589 sqft
2022-12-01 0 days 1,552 sqft
2023-01-01 0 days 1,568 sqft
2023-02-01 0 days 1,615 sqft
2023-03-01 0 days 1,654 sqft
2023-04-01 0 days 1,677 sqft
2023-05-01 0 days 1,714 sqft
2023-06-01 0 days 1,670 sqft
2023-07-01 0 days 1,684 sqft
2023-08-01 0 days 1,666 sqft
2023-09-01 0 days 1,705 sqft
2023-10-01 0 days 1,726 sqft
2023-11-01 0 days 1,721 sqft
2023-12-01 0 days 1,761 sqft
2024-01-01 0 days 1,665 sqft
2024-02-01 0 days 1,676 sqft
2024-03-01 0 days 1,679 sqft
2024-04-01 0 days 1,637 sqft
2024-05-01 0 days 1,698 sqft
2024-06-01 0 days 1,721 sqft
2024-07-01 0 days 1,721 sqft
2024-08-01 0 days 1,800 sqft
2024-09-01 0 days 1,817 sqft
2024-10-01 0 days 1,754 sqft
Newport's median listing age (time on market) for 2024-10-01 was 0 days.

Newport's median square footage for active listings during the 2024-10-01 period was 1,754 sqft. One year prior, the average listing was 1,726 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.