Pocatello VA Loans

POCATELLO, 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 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.

Pocatello's 68 lenders originated 403 VA loans during 2021. The total origination value was $105,175,000, with an average VA loan value of $260,980.

Pocatello VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Pocatello averaged 5.49% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.22% and one month ago for the week of 2022-04-08, the average rate was 4.75%.

The average rate one year ago was 3.06%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.22%.

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

Pocatello VA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Pocatello level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 30 2.47% $5,060
FIRST COLONY MORTGAGE CORPORATION 27 2.63% $6,566
IDAHO CENTRAL 25 2.57% $5,495
Glacier Bank 21 2.65% $9,047
Mortgage Research Center, LLC 21 2.87% $6,322
FREEDOM MORTGAGE CORPORATION 18 2.47% $3,304
NEW DAY FINANCIAL, LLC 17 2.98% $8,027
VAN DYK MORTGAGE CORPORATION 14 2.90% $7,995
UNITED WHOLESALE MORTGAGE, LLC 12 2.41% $6,883
GUILD MORTGAGE COMPANY 10 2.78% $6,653
VILLAGE CAPITAL & INVESTMENT LLC 9 2.43% $4,509
PENNYMAC LOAN SERVICES, LLC 9 2.38% $6,847
CLEARPATH LENDING 8 2.42% $5,104
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 3.01% $6,520
LOANDEPOT.COM, LLC 7 2.44% $8,324
LAKEVIEW LOAN SERVICING, LLC 7 2.55% $2,878
CALIBER HOME LOANS, INC. 6 2.50% $6,617
The Federal Savings Bank 5 2.88% $10,408
AMERICAN PACIFIC MORTGAGE CORPORATION 5 3.23% $8,537
USAA Federal Savings Bank 5 2.80% $5,683
NEWREZ LLC 4 2.50% $3,347
SUMMIT FUNDING, INC. 4 3.15% $7,688
CANOPY MORTGAGE, LLC 4 2.63% $10,704
NAVY FEDERAL CREDIT UNION 4 2.41% $2,588
Eagle Bank and Trust Company 3 2.42% $2,165
Barrington Bank & Trust Company, N.A. 3 2.38% $2,857
U.S. Bank 3 2.83% $3,512
Bank of Idaho 3 2.58% $3,274
BROKER SOLUTIONS, INC. 3 2.62% $23,204
Wells Fargo Bank 3 2.50% $3,344
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 2.92% $16,030
D. L. Evans Bank 2 2.31% $3,613
Paramount Residential Mortgage Group, Inc. 2 3.13% $8,269
AMERICAN FINANCIAL NETWORK, INC. 2 2.56% $7,120
First Federal Bank 2 2.75% $9,288
STEARNS LENDING, LLC 2 2.44% $4,224
ADVANTAGE PLUS 2 2.69% $7,435
Willamette Valley Bank 2 2.38% $2,009
Gateway First Bank 2 2.94% $9,107
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.75% $14,674
Low VA Rates, LLC 2 2.25% $2,389
MOUNTAIN AMERICA 2 2.50% $5,404
Mr. Cooper ( Nationstar Mortgage ) 2 2.75% $3,719
TIAA, FSB 1 2.75% $3,989
AMERICAN FINANCING CORPORATION 1 2.63% $3,336
AMERISAVE MORTGAGE CORPORATION 1 2.25% $5,253
Armed Forces Bank 1 2.88% $729
BELEM SERVICING LLC 1 1.75% $9,386
BOKF 1 2.63% $4,301
CENTENNIAL LENDING, LLC 1 2.25% $4,224
CROSSCOUNTRY MORTGAGE, LLC 1 2.50% $4,298
EMBRACE HOME LOANS, INC. 1 2.63% $4,333
First Guaranty Mortgage Corporation 1 2.75% $13,769
First Home Bank 1 2.75% $24,922
Flagstar Bank, FSB 1 2.75% $3,522
GUARANTEED RATE, INC. 1 2.88% $9,632
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 2.75% $32,064
HOMESTEAD FUNDING CORP. 1 2.50% $4,214
LOANPAL, LLC 1 2.25% $10,786
Magnolia Bank 1 2.25% $5,540
MOVEMENT MORTGAGE, LLC 1 3.75% $1,305
North American Savings Bank, F.S.B. 1 2.25% $4,046
PENTAGON FEDERAL CREDIT UNION 1 2.25% $2,697
PLANET HOME LENDING, LLC 1 2.63% $2,178
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.25% $13,467
SOVEREIGN LENDING GROUP INCORPORATED 1 2.50% $5,160
Summit Mortgage Corporation 1 3.00% $14,717
VISION ONE MORTGAGE, INC. 1 2.88% $4,856

The top Pocatello VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 30 VA loans originated. Their average total fees are $5,060, which is $1,506 lower than the next largest lender, FIRST COLONY MORTGAGE CORPORATION.

The lowest fee Pocatello VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($3,304), QUICKEN LOANS, LLC ($5,060), IDAHO CENTRAL ($5,495), Mortgage Research Center, LLC ($6,322) and FIRST COLONY MORTGAGE CORPORATION ($6,566).

The lowest rate Pocatello VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (2.41%), QUICKEN LOANS, LLC (2.47%), FREEDOM MORTGAGE CORPORATION (2.47%), IDAHO CENTRAL (2.57%) and FIRST COLONY MORTGAGE CORPORATION (2.63%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Pocatello (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 $182,450 (19.7%) $243,957 (23.2%) 0.00 192
2018-02-01 $196,750 (27.0%) $251,565 (24.1%) 0.00 171
2018-03-01 $213,000 (37.4%) $263,047 (28.9%) 0.00 180
2018-04-01 $222,450 (43.6%) $262,617 (24.8%) 0.00 188
2018-05-01 $224,500 (30.2%) $263,007 (15.7%) 0.00 234
2018-06-01 $205,000 (15.9%) $245,593 (7.9%) 0.00 303
2018-07-01 $199,000 (17.8%) $238,045 (8.1%) 0.00 326
2018-08-01 $207,900 (24.9%) $255,559 (15.5%) 0.00 298
2018-09-01 $214,900 (28.8%) $251,913 (11.2%) 0.00 277
2018-10-01 $216,950 (24.0%) $251,432 (9.0%) 0.00 263
2018-11-01 $217,450 (24.3%) $263,049 (12.5%) 0.00 262
2018-12-01 $215,000 (16.3%) $262,054 (5.2%) 0.00 245
2019-01-01 $213,250 (16.9%) $263,476 (8.0%) 0.00 207
2019-02-01 $233,400 (18.6%) $275,521 (9.5%) 0.00 207
2019-03-01 $246,329 (15.7%) $278,639 (5.9%) 0.00 195
2019-04-01 $254,900 (14.6%) $275,574 (4.9%) 0.00 174
2019-05-01 $253,450 (12.9%) $280,968 (6.8%) 0.00 176
2019-06-01 $249,000 (21.5%) $300,065 (22.2%) 0.00 228
2019-07-01 $264,500 (32.9%) $322,277 (35.4%) 0.00 277
2019-08-01 $266,657 (28.3%) $329,531 (29.0%) 0.00 289
2019-09-01 $266,707 (24.1%) $334,962 (33.0%) 0.00 284
2019-10-01 $263,250 (21.3%) $332,191 (32.1%) 0.00 311
2019-11-01 $272,500 (25.3%) $333,310 (26.7%) 0.00 307
2019-12-01 $269,000 (25.1%) $332,857 (27.0%) 0.00 286
2020-01-01 $265,000 (24.3%) $331,093 (25.7%) 0.00 232
2020-02-01 $265,500 (13.8%) $346,235 (25.7%) 0.00 196
2020-03-01 $282,900 (14.9%) $353,512 (26.9%) 0.00 209
2020-04-01 $289,900 (13.7%) $346,137 (25.6%) 0.00 229
2020-05-01 $289,900 (14.4%) $349,704 (24.5%) 0.00 231
2020-06-01 $314,900 (26.5%) $371,524 (23.8%) 0.00 221
2020-07-01 $309,400 (17.0%) $389,129 (20.7%) 0.00 226
2020-08-01 $290,000 (8.8%) $399,185 (21.1%) 0.00 197
2020-09-01 $265,200 (-0.6%) $376,179 (12.3%) 0.00 171
2020-10-01 $240,000 (-8.8%) $393,478 (18.5%) 0.00 146
2020-11-01 $247,400 (-9.2%) $420,789 (26.3%) 0.00 115
2020-12-01 $239,900 (-10.8%) $408,661 (22.8%) 0.00 124
2021-01-01 $239,900 (-9.5%) $406,889 (22.9%) 0.00 100
2021-02-01 $307,400 (15.8%) $499,180 (44.2%) 0.00 86
2021-03-01 $339,925 (20.2%) $557,963 (57.8%) 0.00 70
2021-04-01 $332,000 (14.5%) $479,340 (38.5%) 0.00 86
2021-05-01 $300,000 (3.5%) $439,175 (25.6%) 0.00 100
2021-06-01 $389,500 (23.7%) $519,001 (39.7%) 0.00 120
2021-07-01 $359,900 (16.3%) $506,362 (30.1%) 0.00 171
2021-08-01 $392,450 (35.3%) $513,923 (28.7%) 0.00 194
2021-09-01 $400,000 (50.8%) $486,627 (29.4%) 0.00 216
2021-10-01 $400,000 (66.7%) $482,939 (22.7%) 0.00 205
2021-11-01 $372,500 (50.6%) $447,233 (6.3%) 0.00 204
2021-12-01 $359,950 (50.0%) $452,287 (10.7%) 0.00 163
2022-01-01 $364,900 (52.1%) $435,877 (7.1%) 0.00 95
2022-02-01 $400,000 (30.1%) $500,672 (0.3%) 0.00 70
2022-03-01 $429,900 (26.5%) $550,725 (-1.3%) 0.00 74
2022-04-01 $429,900 (29.5%) $521,963 (8.9%) 0.00 102
Pocatello's median listing price for 2022-04-01 was $429,900, a difference of $97,900 (29.5%) versus the prior year and $0 versus the prior month.

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

Pocatello's average listing price for 2022-04-01 was $521,963, a difference of $42,623 (8.9%) versus the prior year and $-28,762 versus the prior month.

For the 2022-04-01 period, Pocatello had 102 MLS listings, a difference of 28 listings (38%) versus the prior month and 16 listings (19%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Pocatello (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,367 sqft
2018-02-01 0 days 2,387 sqft
2018-03-01 0 days 2,326 sqft
2018-04-01 0 days 2,296 sqft
2018-05-01 0 days 2,391 sqft
2018-06-01 0 days 2,248 sqft
2018-07-01 0 days 2,199 sqft
2018-08-01 0 days 2,352 sqft
2018-09-01 0 days 2,312 sqft
2018-10-01 0 days 2,393 sqft
2018-11-01 0 days 2,484 sqft
2018-12-01 0 days 2,513 sqft
2019-01-01 0 days 2,312 sqft
2019-02-01 0 days 2,482 sqft
2019-03-01 0 days 2,647 sqft
2019-04-01 0 days 2,589 sqft
2019-05-01 0 days 2,641 sqft
2019-06-01 0 days 2,513 sqft
2019-07-01 0 days 2,568 sqft
2019-08-01 0 days 2,475 sqft
2019-09-01 0 days 2,478 sqft
2019-10-01 0 days 2,450 sqft
2019-11-01 0 days 2,455 sqft
2019-12-01 0 days 2,459 sqft
2020-01-01 0 days 2,463 sqft
2020-02-01 0 days 2,460 sqft
2020-03-01 0 days 2,556 sqft
2020-04-01 0 days 2,538 sqft
2020-05-01 0 days 2,578 sqft
2020-06-01 0 days 2,733 sqft
2020-07-01 0 days 2,648 sqft
2020-08-01 0 days 2,372 sqft
2020-09-01 0 days 2,262 sqft
2020-10-01 0 days 2,120 sqft
2020-11-01 0 days 2,184 sqft
2020-12-01 0 days 2,056 sqft
2021-01-01 0 days 2,174 sqft
2021-02-01 0 days 2,460 sqft
2021-03-01 0 days 2,678 sqft
2021-04-01 0 days 2,471 sqft
2021-05-01 0 days 2,211 sqft
2021-06-01 0 days 2,278 sqft
2021-07-01 0 days 2,376 sqft
2021-08-01 0 days 2,646 sqft
2021-09-01 0 days 2,613 sqft
2021-10-01 0 days 2,540 sqft
2021-11-01 0 days 2,421 sqft
2021-12-01 0 days 2,582 sqft
2022-01-01 0 days 2,341 sqft
2022-02-01 0 days 2,579 sqft
2022-03-01 0 days 2,612 sqft
2022-04-01 0 days 2,624 sqft
Pocatello's median listing age (time on market) for 2022-04-01 was 0 days.

Pocatello's median square footage for active listings during the 2022-04-01 period was 2,624 sqft. One year prior, the average listing was 2,471 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.