Newport VA Loan Rates, Closing Costs & Stats

Newport, 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.

    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 7.14% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.97% and one month ago for the week of 2024-03-15, the average rate was 7.03%.

    The average rate one year ago was 6.42%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

    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
    Newport's median listing price for 2024-03-01 was $595,000, a difference of $11,250 (1.9%) versus the prior year and $10,000 versus the prior month.

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

    Newport's average listing price for 2024-03-01 was $670,527, a difference of $-37,830 (-5.3%) versus the prior year and $4,296 versus the prior month.

    For the 2024-03-01 period, Newport had 308 MLS listings, a difference of 13 listings (4%) versus the prior month and 79 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
    Newport's median listing age (time on market) for 2024-03-01 was 0 days.

    Newport's median square footage for active listings during the 2024-03-01 period was 1,679 sqft. One year prior, the average listing was 1,654 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.