Portland VA Loan Rates, Closing Costs & Stats

PORTLAND-SOUTH PORTLAND, ME

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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.

    Portland's 75 lenders originated 568 VA loans during 2024. The total origination value was $250,550,000, with an average VA loan value of $441,109.

    Portland VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Portland averaged 7.24% for the week of 2025-05-23, compared to the national average (all VA variants) of 6.52% for the same period.

    Portland's average VA mortgage closing costs are $6,737.

    The average rate for the prior week (2025-05-16) was 6.93% and one month ago for the week of 2025-04-18, the average rate was 6.8%.

    The average rate one year ago was 6.82%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.66%.

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

    Portland 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 Portland level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 92 6.00% $8,847
    Mortgage Research Center, LLC 64 6.31% $7,760
    CMG MORTGAGE, INC. 60 6.19% $8,174
    QUICKEN LOANS, LLC 32 5.98% $12,790
    FREEDOM MORTGAGE CORPORATION 29 6.26% $14,004
    NAVY FEDERAL CREDIT UNION 29 5.91% $7,986
    GUILD MORTGAGE COMPANY 24 6.15% $9,080
    USAA Federal Savings Bank 15 6.23% $8,536
    NEWREZ LLC 15 5.77% $10,013
    LOANDEPOT.COM, LLC 12 6.09% $12,320
    NORTHPOINT MORTGAGE, INC. 11 6.14% $10,207
    LAKEVIEW LOAN SERVICING, LLC 11 5.88% $6,759
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.53% $7,457
    The Federal Savings Bank 8 5.98% $21,984
    HARBORONE MORTGAGE, LLC 8 6.39% $7,968
    BROKER SOLUTIONS, INC. 7 6.34% $7,992
    NEW DAY FINANCIAL, LLC 7 7.30% $16,757
    CROSSCOUNTRY MORTGAGE, LLC 6 6.40% $12,159
    The Camden National Bank 6 5.77% $5,717
    PENNYMAC LOAN SERVICES, LLC 6 5.75% $11,334
    EMM LOANS LLC 5 6.63% $11,375
    Century Mortgage Company DBA Century Lending Company 5 6.38% $3,975
    ENVOY MORTGAGE, LTD 4 5.78% $9,873
    MOVEMENT MORTGAGE, LLC 4 6.38% $5,764
    Bangor Savings Bank 4 5.83% $8,218
    Mr. Cooper ( Nationstar Mortgage ) 3 6.21% $14,253
    CUSO MORTGAGE CORPORATION 3 5.57% $10,023
    Ixonia Bank 3 6.38% $5,475
    Carrington Mortgage Services, LLC 3 5.79% $11,350
    GUARANTEED RATE AFFINITY, LLC 3 6.21% $12,095
    VILLAGE CAPITAL MORTGAGE 3 5.25% $4,653
    First Federal Bank 3 5.63% $19,959
    GUARANTEED RATE, INC. 2 5.86% $6,146
    Service Federal Credit Union 2 6.19% $9,199
    GENEVA FINANCIAL, LLC 2 6.31% $9,641
    PENTAGON FEDERAL CREDIT UNION 2 5.88% $6,466
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 5.99% $4,545
    NORWICH COMMERCIAL GROUP, INC. 2 6.25% $4,689
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.50% $9,915
    Presidential Bank, FSB 2 6.19% $5,711
    Waterstone Mortgage Corporation 1 7.25% $2,220
    AMERICAN FINANCING CORPORATION 1 5.63% $18,625
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.13% $6,265
    AMERISAVE MORTGAGE CORPORATION 1 6.75% $14,040
    Androscoggin Savings Bank 1 6.13% $3,867
    Armed Forces Bank 1 5.75% $3,648
    Barrington Bank & Trust Company, N.A. 1 7.25% $8,553
    Bath Savings Institution 1 5.45% $2,678
    CARDINAL FINANCIAL 1 6.75% $62,559
    Citizens Bank 1 6.50% $5,300
    FIRST COLONY MORTGAGE CORPORATION 1 6.25% $4,404
    Flagstar Bank, FSB 1 6.50% $5,542
    HANSCOM 1 6.75% $3,220
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.25% $11,462
    JPMorgan Chase Bank 1 6.75% $1,865
    Keystone Funding, Inc. 1 6.25% $8,123
    Magnolia Bank 1 5.75% $28,890
    MLD MORTGAGE INC. 1 5.75% $12,590
    MORTGAGE EQUITY PARTNERS LLC 1 6.75% $12,024
    NBKC BANK 1 5.38% $2,790
    NEW FED MORTGAGE, CORP. 1 7.25% $11,675
    North American Savings Bank, F.S.B. 1 6.00% $12,106
    North Shore Bank of Commerce 1 6.50% $2,824
    Paramount Residential Mortgage Group, Inc. 1 6.25% $22,845
    PHH Mortgage Corporation 1 6.13% $3,188
    Plains Commerce Bank 1 6.63% $18,030
    PREMIA MORTGAGE, LLC 1 6.23% $15,418
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.63% $10,406
    RADIUS FINANCIAL GROUP INC. 1 5.99% $11,739
    RELIANCE FIRST CAPITAL, LLC 1 5.38% $18,058
    Texana Bank 1 5.88% $15,277
    TOTAL MORTGAGE SERVICES, LLC 1 7.13% $9,070
    TruHome Solutions, LLC 1 6.13% $3,337
    U.S. Bank 1 6.63% $12,651
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $9,205

    The top Portland VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 92 VA loans originated. Their average total fees are $8,847, which is $1,088 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Portland VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($6,759), Mortgage Research Center, LLC ($7,760), NAVY FEDERAL CREDIT UNION ($7,986), CMG MORTGAGE, INC. ($8,174) and USAA Federal Savings Bank ($8,536).

    The lowest rate Portland VA lenders (with over 10 loans originated) are NEWREZ LLC (5.77%), LAKEVIEW LOAN SERVICING, LLC (5.88%), NAVY FEDERAL CREDIT UNION (5.91%), QUICKEN LOANS, LLC (5.98%) and UNITED WHOLESALE MORTGAGE, LLC (6.00%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Portland (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 $342,500 (5.4%) $485,060 (7.9%) 1.27 1,968
    2018-02-01 $349,800 (5.9%) $486,831 (5.7%) 1.27 1,829
    2018-03-01 $350,000 (3.0%) $495,079 (4.6%) 1.23 1,831
    2018-04-01 $359,925 (3.8%) $511,348 (4.5%) 1.22 1,945
    2018-05-01 $364,850 (4.3%) $505,992 (3.9%) 1.22 2,246
    2018-06-01 $366,500 (4.7%) $505,380 (3.8%) 1.22 2,602
    2018-07-01 $366,900 (4.9%) $507,395 (2.5%) 1.23 2,799
    2018-08-01 $359,000 (3.3%) $502,038 (1.8%) 1.20 2,965
    2018-09-01 $355,000 (3.2%) $493,262 (0.2%) 1.19 3,048
    2018-10-01 $351,875 (3.5%) $490,332 (0.0%) 1.19 2,945
    2018-11-01 $354,999 (4.6%) $492,641 (1.3%) 1.20 2,759
    2018-12-01 $349,000 (2.7%) $484,836 (-0.7%) 1.20 2,441
    2019-01-01 $349,450 (2.0%) $480,011 (-1.0%) 1.21 2,070
    2019-02-01 $357,425 (2.2%) $494,834 (1.6%) 1.21 1,984
    2019-03-01 $366,429 (4.7%) $506,236 (2.3%) 1.20 1,946
    2019-04-01 $377,250 (4.8%) $518,611 (1.4%) 1.20 1,932
    2019-05-01 $383,450 (5.1%) $526,172 (4.0%) 1.20 2,122
    2019-06-01 $388,250 (5.9%) $531,085 (5.1%) 1.21 2,433
    2019-07-01 $389,450 (6.2%) $540,263 (6.5%) 1.22 2,571
    2019-08-01 $387,882 (8.1%) $539,163 (7.4%) 1.23 2,601
    2019-09-01 $386,205 (8.8%) $537,710 (9.0%) 1.24 2,551
    2019-10-01 $384,950 (9.4%) $537,947 (9.7%) 1.24 2,487
    2019-11-01 $385,000 (8.5%) $546,055 (10.8%) 1.26 2,210
    2019-12-01 $385,375 (10.4%) $549,004 (13.2%) 1.29 1,752
    2020-01-01 $395,000 (13.0%) $547,819 (14.1%) 1.32 1,511
    2020-02-01 $399,000 (11.6%) $557,594 (12.7%) 1.31 1,401
    2020-03-01 $399,450 (9.0%) $571,349 (12.9%) 1.25 1,455
    2020-04-01 $405,000 (7.4%) $566,833 (9.3%) 1.27 1,512
    2020-05-01 $415,000 (8.2%) $585,193 (11.2%) 1.26 1,526
    2020-06-01 $414,950 (6.9%) $595,023 (12.0%) 1.22 1,611
    2020-07-01 $427,450 (9.8%) $608,768 (12.7%) 1.24 1,561
    2020-08-01 $424,950 (9.6%) $605,902 (12.4%) 1.22 1,413
    2020-09-01 $424,250 (9.9%) $607,735 (13.0%) 1.22 1,363
    2020-10-01 $417,500 (8.5%) $590,632 (9.8%) 1.20 1,339
    2020-11-01 $425,000 (10.4%) $590,677 (8.2%) 1.24 1,191
    2020-12-01 $441,400 (14.5%) $597,642 (8.9%) 1.31 978
    2021-01-01 $438,500 (11.0%) $612,446 (11.8%) 1.31 751
    2021-02-01 $437,500 (9.7%) $624,166 (11.9%) 1.27 629
    2021-03-01 $438,152 (9.7%) $608,812 (6.6%) 1.24 614
    2021-04-01 $448,898 (10.8%) $651,749 (15.0%) 1.22 649
    2021-05-01 $459,900 (10.8%) $661,625 (13.1%) 1.22 733
    2021-06-01 $474,713 (14.4%) $685,899 (15.3%) 1.25 902
    2021-07-01 $479,450 (12.2%) $667,944 (9.7%) 1.27 1,093
    2021-08-01 $465,225 (9.5%) $649,746 (7.2%) 1.24 1,113
    2021-09-01 $450,000 (6.1%) $649,998 (7.0%) 1.20 1,064
    2021-10-01 $465,000 (11.4%) $687,644 (16.4%) 1.24 943
    2021-11-01 $481,825 (13.4%) $721,910 (22.2%) 1.29 771
    2021-12-01 $492,000 (11.5%) $745,578 (24.8%) 1.33 598
    2022-01-01 $498,900 (13.8%) $742,183 (21.2%) 1.35 496
    2022-02-01 $530,500 (21.3%) $728,705 (16.8%) 1.38 438
    2022-03-01 $520,000 (18.7%) $714,828 (17.4%) 1.30 469
    2022-04-01 $525,000 (17.0%) $724,748 (11.2%) 1.25 567
    2022-05-01 $532,500 (15.8%) $720,773 (8.9%) 1.22 718
    2022-06-01 $544,000 (14.6%) $730,869 (6.6%) 1.21 888
    2022-07-01 $549,900 (14.7%) $732,893 (9.7%) 1.24 1,088
    2022-08-01 $549,950 (18.2%) $729,522 (12.3%) 1.27 1,090
    2022-09-01 $542,000 (20.4%) $743,412 (14.4%) 1.27 1,038
    2022-10-01 $549,000 (18.1%) $737,174 (7.2%) 1.29 1,006
    2022-11-01 $542,000 (12.5%) $736,401 (2.0%) 1.30 946
    2022-12-01 $551,750 (12.1%) $752,445 (0.9%) 1.36 808
    2023-01-01 $584,775 (17.2%) $735,776 (-0.9%) 1.45 656
    2023-02-01 $590,000 (11.2%) $769,548 (5.6%) 1.42 589
    2023-03-01 $619,000 (19.0%) $829,590 (16.1%) 1.46 574
    2023-04-01 $628,700 (19.8%) $847,820 (17.0%) 1.46 630
    2023-05-01 $623,175 (17.0%) $848,468 (17.7%) 1.41 728
    2023-06-01 $625,000 (14.9%) $875,841 (19.8%) 1.40 783
    2023-07-01 $623,800 (13.4%) $882,708 (20.4%) 1.42 883
    2023-08-01 $611,350 (11.2%) $858,625 (17.7%) 1.40 982
    2023-09-01 $599,900 (10.7%) $870,420 (17.1%) 1.40 1,107
    2023-10-01 $599,950 (9.3%) $874,809 (18.7%) 1.41 1,104
    2023-11-01 $599,925 (10.7%) $882,064 (19.8%) 1.43 1,063
    2023-12-01 $599,900 (8.7%) $878,569 (16.8%) 1.46 858
    2024-01-01 $615,000 (5.2%) $875,680 (19.0%) 1.50 666
    2024-02-01 $604,900 (2.5%) $854,749 (11.1%) 1.46 657
    2024-03-01 $622,700 (0.6%) $912,739 (10.0%) 1.47 673
    2024-04-01 $649,948 (3.4%) $901,309 (6.3%) 1.51 750
    2024-05-01 $657,225 (5.5%) $930,606 (9.7%) 1.50 911
    2024-06-01 $649,900 (4.0%) $940,680 (7.4%) 1.48 1,095
    2024-07-01 $649,500 (4.1%) $927,459 (5.1%) 1.49 1,328
    2024-08-01 $645,000 (5.5%) $885,473 (3.1%) 1.50 1,389
    2024-09-01 $642,125 (7.0%) $885,237 (1.7%) 1.51 1,443
    2024-10-01 $629,000 (4.8%) $881,101 (0.7%) 1.48 1,537
    2024-11-01 $615,000 (2.5%) $865,630 (-1.9%) 1.48 1,534
    2024-12-01 $613,750 (2.3%) $859,304 (-2.2%) 1.52 1,065
    2025-01-01 $620,000 (0.8%) $868,975 (-0.8%) 1.55 861
    2025-02-01 $632,950 (4.6%) $867,267 (1.5%) 1.54 858
    2025-03-01 $647,800 (4.0%) $877,440 (-3.9%) 1.52 925
    2025-04-01 $655,375 (0.8%) $890,136 (-1.2%) 1.52 1,053
    Portland's median listing price for 2025-04-01 was $655,375, a difference of $5,427 (0.8%) versus the prior year and $7,575 versus the prior month.

    Portland's median listing price comes in at 152% of the national average.

    Portland's average listing price for 2025-04-01 was $890,136, a difference of $-11,173 (-1.2%) versus the prior year and $12,696 versus the prior month.

    For the 2025-04-01 period, Portland had 1,053 MLS listings, a difference of 128 listings (14%) versus the prior month and 303 listings (40%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 101 days 1,800 sqft
    2018-02-01 107 days 1,792 sqft
    2018-03-01 75 days 1,791 sqft
    2018-04-01 50 days 1,800 sqft
    2018-05-01 43 days 1,796 sqft
    2018-06-01 44 days 1,800 sqft
    2018-07-01 51 days 1,818 sqft
    2018-08-01 59 days 1,815 sqft
    2018-09-01 64 days 1,800 sqft
    2018-10-01 71 days 1,800 sqft
    2018-11-01 76 days 1,800 sqft
    2018-12-01 88 days 1,764 sqft
    2019-01-01 103 days 1,736 sqft
    2019-02-01 106 days 1,741 sqft
    2019-03-01 83 days 1,753 sqft
    2019-04-01 52 days 1,764 sqft
    2019-05-01 42 days 1,780 sqft
    2019-06-01 40 days 1,800 sqft
    2019-07-01 47 days 1,789 sqft
    2019-08-01 54 days 1,780 sqft
    2019-09-01 61 days 1,787 sqft
    2019-10-01 67 days 1,791 sqft
    2019-11-01 72 days 1,790 sqft
    2019-12-01 84 days 1,762 sqft
    2020-01-01 89 days 1,736 sqft
    2020-02-01 86 days 1,694 sqft
    2020-03-01 59 days 1,704 sqft
    2020-04-01 55 days 1,739 sqft
    2020-05-01 59 days 1,765 sqft
    2020-06-01 40 days 1,764 sqft
    2020-07-01 43 days 1,754 sqft
    2020-08-01 40 days 1,742 sqft
    2020-09-01 34 days 1,707 sqft
    2020-10-01 34 days 1,715 sqft
    2020-11-01 45 days 1,719 sqft
    2020-12-01 62 days 1,711 sqft
    2021-01-01 70 days 1,707 sqft
    2021-02-01 43 days 1,662 sqft
    2021-03-01 24 days 1,664 sqft
    2021-04-01 17 days 1,678 sqft
    2021-05-01 15 days 1,707 sqft
    2021-06-01 16 days 1,736 sqft
    2021-07-01 22 days 1,766 sqft
    2021-08-01 27 days 1,747 sqft
    2021-09-01 31 days 1,715 sqft
    2021-10-01 34 days 1,730 sqft
    2021-11-01 43 days 1,743 sqft
    2021-12-01 58 days 1,700 sqft
    2022-01-01 46 days 1,614 sqft
    2022-02-01 29 days 1,639 sqft
    2022-03-01 21 days 1,634 sqft
    2022-04-01 12 days 1,657 sqft
    2022-05-01 14 days 1,707 sqft
    2022-06-01 17 days 1,777 sqft
    2022-07-01 23 days 1,773 sqft
    2022-08-01 32 days 1,769 sqft
    2022-09-01 38 days 1,755 sqft
    2022-10-01 42 days 1,776 sqft
    2022-11-01 46 days 1,691 sqft
    2022-12-01 57 days 1,680 sqft
    2023-01-01 67 days 1,684 sqft
    2023-02-01 61 days 1,672 sqft
    2023-03-01 53 days 1,662 sqft
    2023-04-01 27 days 1,664 sqft
    2023-05-01 24 days 1,668 sqft
    2023-06-01 23 days 1,761 sqft
    2023-07-01 28 days 1,784 sqft
    2023-08-01 29 days 1,740 sqft
    2023-09-01 31 days 1,736 sqft
    2023-10-01 37 days 1,758 sqft
    2023-11-01 45 days 1,780 sqft
    2023-12-01 59 days 1,748 sqft
    2024-01-01 75 days 1,743 sqft
    2024-02-01 54 days 1,680 sqft
    2024-03-01 46 days 1,680 sqft
    2024-04-01 42 days 1,686 sqft
    2024-05-01 32 days 1,717 sqft
    2024-06-01 32 days 1,735 sqft
    2024-07-01 39 days 1,752 sqft
    2024-08-01 45 days 1,728 sqft
    2024-09-01 49 days 1,748 sqft
    2024-10-01 52 days 1,740 sqft
    2024-11-01 61 days 1,729 sqft
    2024-12-01 67 days 1,699 sqft
    2025-01-01 75 days 1,707 sqft
    2025-02-01 64 days 1,699 sqft
    2025-03-01 49 days 1,678 sqft
    2025-04-01 41 days 1,706 sqft
    Portland's median listing age (time on market) for 2025-04-01 was 41 days. This is -2% shorter than the same period one year ago.

    Portland's median square footage for active listings during the 2025-04-01 period was 1,706 sqft. One year prior, the average listing was 1,686 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.