Ontario VA Loan Rates, Closing Costs & Stats

Ontario, OR-ID

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.

Ontario's 35 lenders originated 83 VA loans during 2023. The total origination value was $27,325,000, with an average VA loan value of $329,217.

Ontario VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Ontario averaged 6.57% for the week of 2024-06-07, compared to the national average (all VA variants) of 6.387% for the same period.

Ontario's average VA mortgage closing costs are $7,033.

The average rate for the prior week (2024-05-31) was 6.88% and one month ago for the week of 2024-05-03, the average rate was 6.91%.

The average rate one year ago was 6.71%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.39%.

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

Ontario 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 Ontario level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 10 6.53% $7,845
UNITED WHOLESALE MORTGAGE, LLC 9 5.71% $14,343
QUICKEN LOANS, LLC 6 6.23% $7,640
FIRST COLONY MORTGAGE CORPORATION 6 6.75% $10,511
Barrington Bank & Trust Company, N.A. 4 6.47% $15,686
The Federal Savings Bank 3 6.38% $25,852
PENNYMAC LOAN SERVICES, LLC 2 4.94% $5,914
MOVEMENT MORTGAGE, LLC 2 7.12% $8,519
FREEDOM MORTGAGE CORPORATION 2 5.94% $14,871
LOANDEPOT.COM, LLC 2 6.06% $18,167
NEW DAY FINANCIAL, LLC 2 7.00% $5,633
LOANPAL, LLC 1 5.63% $20,909
Magnolia Bank 1 5.38% $18,357
NATIONS DIRECT MORTGAGE, LLC 1 6.63% $6,029
NAVY FEDERAL CREDIT UNION 1 5.38% $2,592
NEWREZ LLC 1 5.75% $22,306
PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.75% $18,072
ROGUE 1 6.38% $3,287
SUMMIT FUNDING, INC. 1 8.00% $8,116
Umpqua Bank 1 6.75% $4,908
USAA Federal Savings Bank 1 6.25% $3,175
VERITAS FUNDING, LLC 1 5.75% $26,075
VILLAGE CAPITAL MORTGAGE 1 5.25% $14,517
ACADEMY MORTGAGE CORPORATION 1 6.13% $18,940
ZILLOW HOME LOANS, LLC 1 7.25% $9,492
AMERISAVE MORTGAGE CORPORATION 1 5.38% $23,709
BAY EQUITY LLC 1 5.25% $26,442
CARDINAL FINANCIAL 1 5.75% $6,369
CASTLE & COOKE MORTGAGE, LLC 1 7.75% $0
CMG MORTGAGE, INC. 1 6.50% $9,210
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $5,324
Flagstar Bank, FSB 1 6.13% $666
Gateway First Bank 1 6.75% $16,549
GUILD MORTGAGE COMPANY 1 6.63% $4,692
IDAHO CENTRAL 1 5.25% $767

The top Ontario VA lender as defined by loan originations is Mortgage Research Center, LLC, with 10 VA loans originated. Their average total fees are $7,845, which is $6,498 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Ontario VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,845), .

The lowest rate Ontario VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.53%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Ontario (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 $179,900 (18.0%) $238,375 (13.1%) 0.00 164
2018-02-01 $179,925 (16.2%) $241,406 (16.3%) 0.00 149
2018-03-01 $190,999 (17.9%) $249,466 (17.3%) 0.00 129
2018-04-01 $198,600 (17.6%) $250,847 (17.1%) 0.00 129
2018-05-01 $204,450 (21.2%) $253,510 (16.1%) 0.00 138
2018-06-01 $214,000 (20.4%) $272,331 (23.8%) 0.00 153
2018-07-01 $223,950 (24.8%) $287,137 (25.4%) 0.00 154
2018-08-01 $231,750 (35.4%) $287,820 (26.3%) 0.00 158
2018-09-01 $249,999 (48.0%) $288,909 (30.7%) 0.00 151
2018-10-01 $267,250 (59.2%) $294,991 (37.2%) 0.00 147
2018-11-01 $260,950 (51.3%) $290,468 (30.5%) 0.00 139
2018-12-01 $265,500 (47.6%) $324,263 (34.1%) 0.00 138
2019-01-01 $267,875 (48.9%) $322,414 (35.3%) 0.00 123
2019-02-01 $248,250 (38.0%) $299,178 (23.9%) 0.00 116
2019-03-01 $249,386 (30.6%) $304,249 (22.0%) 0.00 126
2019-04-01 $257,450 (29.6%) $327,754 (30.7%) 0.00 130
2019-05-01 $262,250 (28.3%) $347,048 (36.9%) 0.00 118
2019-06-01 $250,000 (16.8%) $343,102 (26.0%) 0.00 111
2019-07-01 $247,500 (10.5%) $321,780 (12.1%) 0.00 128
2019-08-01 $249,973 (7.9%) $323,027 (12.2%) 0.00 126
2019-09-01 $249,932 (0.0%) $322,798 (11.7%) 0.00 137
2019-10-01 $252,205 (-5.6%) $321,836 (9.1%) 0.00 137
2019-11-01 $253,900 (-2.7%) $319,491 (10.0%) 0.00 124
2019-12-01 $259,950 (-2.1%) $333,099 (2.7%) 0.00 104
2020-01-01 $289,900 (8.2%) $366,223 (13.6%) 0.00 78
2020-02-01 $273,900 (10.3%) $340,306 (13.8%) 0.00 83
2020-03-01 $268,900 (7.8%) $337,748 (11.0%) 0.00 95
2020-04-01 $266,675 (3.6%) $329,267 (0.5%) 0.00 99
2020-05-01 $266,450 (1.6%) $316,242 (-8.9%) 0.00 84
2020-06-01 $297,450 (19.0%) $366,415 (6.8%) 0.00 71
2020-07-01 $309,075 (24.9%) $393,789 (22.4%) 0.00 64
2020-08-01 $327,495 (31.0%) $393,771 (21.9%) 0.00 59
2020-09-01 $329,725 (31.9%) $399,710 (23.8%) 0.00 51
2020-10-01 $299,000 (18.6%) $393,819 (22.4%) 0.00 57
2020-11-01 $352,704 (38.9%) $446,563 (39.8%) 0.00 50
2020-12-01 $319,794 (23.0%) $425,977 (27.9%) 0.00 42
2021-01-01 $289,960 (0.0%) $411,443 (12.4%) 0.00 35
2021-02-01 $314,995 (15.0%) $426,547 (25.3%) 0.00 37
2021-03-01 $336,925 (25.3%) $460,751 (36.4%) 0.00 38
2021-04-01 $407,500 (52.8%) $478,877 (45.4%) 0.00 44
2021-05-01 $390,000 (46.4%) $468,441 (48.1%) 0.00 47
2021-06-01 $373,610 (25.6%) $460,355 (25.6%) 0.00 61
2021-07-01 $400,000 (29.4%) $465,324 (18.2%) 0.00 86
2021-08-01 $397,450 (21.4%) $473,201 (20.2%) 0.00 97
2021-09-01 $419,925 (27.4%) $477,272 (19.4%) 0.00 107
2021-10-01 $399,000 (33.4%) $475,276 (20.7%) 0.00 113
2021-11-01 $422,500 (19.8%) $508,187 (13.8%) 0.00 94
2021-12-01 $427,475 (33.7%) $520,289 (22.1%) 0.00 86
2022-01-01 $448,000 (54.5%) $525,707 (27.8%) 0.00 70
2022-02-01 $447,975 (42.2%) $490,700 (15.0%) 0.00 64
2022-03-01 $443,700 (31.7%) $547,589 (18.9%) 0.00 67
2022-04-01 $452,500 (11.0%) $636,542 (32.9%) 0.00 76
2022-05-01 $472,450 (21.1%) $643,184 (37.3%) 0.00 107
2022-06-01 $429,000 (14.8%) $586,322 (27.4%) 0.00 150
2022-07-01 $413,000 (3.3%) $543,898 (16.9%) 0.00 194
2022-08-01 $411,000 (3.4%) $545,800 (15.3%) 0.00 193
2022-09-01 $399,900 (-4.8%) $540,253 (13.2%) 0.00 179
2022-10-01 $405,000 (1.5%) $538,864 (13.4%) 0.00 191
2022-11-01 $399,999 (-5.3%) $548,124 (7.9%) 0.00 173
2022-12-01 $399,900 (-6.5%) $566,155 (8.8%) 0.00 147
2023-01-01 $406,000 (-9.4%) $587,188 (11.7%) 0.00 131
2023-02-01 $408,200 (-8.9%) $555,879 (13.3%) 0.00 135
2023-03-01 $436,175 (-1.7%) $574,204 (4.9%) 0.00 129
2023-04-01 $425,000 (-6.1%) $572,812 (-10.0%) 0.00 131
2023-05-01 $405,000 (-14.3%) $546,232 (-15.1%) 0.00 138
2023-06-01 $403,750 (-5.9%) $533,975 (-8.9%) 0.00 153
2023-07-01 $405,000 (-1.9%) $574,435 (5.6%) 0.00 166
2023-08-01 $410,750 (-0.1%) $512,580 (-6.1%) 0.00 168
2023-09-01 $399,999 (0.0%) $504,710 (-6.6%) 0.00 170
2023-10-01 $394,900 (-2.5%) $488,323 (-9.4%) 0.00 170
2023-11-01 $387,450 (-3.1%) $477,025 (-13.0%) 0.00 157
2023-12-01 $372,500 (-6.9%) $461,761 (-18.4%) 0.00 148
2024-01-01 $369,675 (-9.0%) $495,055 (-15.7%) 0.00 140
2024-02-01 $366,500 (-10.2%) $500,478 (-10.0%) 0.00 139
2024-03-01 $393,000 (-9.9%) $522,831 (-9.0%) 0.00 143
2024-04-01 $406,625 (-4.3%) $595,868 (4.0%) 0.00 155
2024-05-01 $445,975 (10.1%) $628,258 (15.0%) 0.00 173
Ontario's median listing price for 2024-05-01 was $445,975, a difference of $40,975 (10.1%) versus the prior year and $39,350 versus the prior month.

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

Ontario's average listing price for 2024-05-01 was $628,258, a difference of $82,026 (15.0%) versus the prior year and $32,390 versus the prior month.

For the 2024-05-01 period, Ontario had 173 MLS listings, a difference of 18 listings (12%) versus the prior month and 35 listings (25%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Ontario (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,733 sqft
2018-02-01 0 days 1,758 sqft
2018-03-01 0 days 1,701 sqft
2018-04-01 0 days 1,844 sqft
2018-05-01 0 days 1,814 sqft
2018-06-01 0 days 1,793 sqft
2018-07-01 0 days 1,798 sqft
2018-08-01 0 days 1,900 sqft
2018-09-01 0 days 1,945 sqft
2018-10-01 0 days 2,034 sqft
2018-11-01 0 days 1,978 sqft
2018-12-01 0 days 1,928 sqft
2019-01-01 0 days 1,860 sqft
2019-02-01 0 days 1,850 sqft
2019-03-01 0 days 1,848 sqft
2019-04-01 0 days 1,848 sqft
2019-05-01 0 days 1,846 sqft
2019-06-01 0 days 1,844 sqft
2019-07-01 0 days 1,841 sqft
2019-08-01 0 days 1,876 sqft
2019-09-01 0 days 1,889 sqft
2019-10-01 0 days 1,920 sqft
2019-11-01 0 days 1,954 sqft
2019-12-01 0 days 1,951 sqft
2020-01-01 0 days 2,047 sqft
2020-02-01 0 days 1,894 sqft
2020-03-01 0 days 1,760 sqft
2020-04-01 0 days 1,756 sqft
2020-05-01 0 days 1,756 sqft
2020-06-01 0 days 2,015 sqft
2020-07-01 0 days 2,163 sqft
2020-08-01 0 days 2,240 sqft
2020-09-01 0 days 2,221 sqft
2020-10-01 0 days 1,930 sqft
2020-11-01 0 days 2,304 sqft
2020-12-01 0 days 2,048 sqft
2021-01-01 0 days 1,999 sqft
2021-02-01 0 days 1,750 sqft
2021-03-01 0 days 1,715 sqft
2021-04-01 0 days 2,006 sqft
2021-05-01 0 days 1,843 sqft
2021-06-01 0 days 1,928 sqft
2021-07-01 0 days 1,920 sqft
2021-08-01 0 days 1,961 sqft
2021-09-01 0 days 1,852 sqft
2021-10-01 0 days 1,923 sqft
2021-11-01 0 days 1,908 sqft
2021-12-01 0 days 1,990 sqft
2022-01-01 0 days 1,926 sqft
2022-02-01 0 days 1,870 sqft
2022-03-01 0 days 1,853 sqft
2022-04-01 0 days 1,885 sqft
2022-05-01 0 days 1,896 sqft
2022-06-01 0 days 1,869 sqft
2022-07-01 0 days 1,849 sqft
2022-08-01 0 days 1,872 sqft
2022-09-01 0 days 1,848 sqft
2022-10-01 0 days 1,908 sqft
2022-11-01 0 days 1,916 sqft
2022-12-01 0 days 1,909 sqft
2023-01-01 0 days 1,924 sqft
2023-02-01 0 days 1,948 sqft
2023-03-01 0 days 1,972 sqft
2023-04-01 0 days 1,994 sqft
2023-05-01 0 days 1,991 sqft
2023-06-01 0 days 1,983 sqft
2023-07-01 0 days 1,911 sqft
2023-08-01 0 days 1,820 sqft
2023-09-01 0 days 1,809 sqft
2023-10-01 0 days 1,809 sqft
2023-11-01 0 days 1,775 sqft
2023-12-01 0 days 1,712 sqft
2024-01-01 0 days 1,702 sqft
2024-02-01 0 days 1,708 sqft
2024-03-01 0 days 1,780 sqft
2024-04-01 0 days 1,800 sqft
2024-05-01 0 days 1,943 sqft
Ontario's median listing age (time on market) for 2024-05-01 was 0 days.

Ontario's median square footage for active listings during the 2024-05-01 period was 1,943 sqft. One year prior, the average listing was 1,991 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.