Portland VA Loans

PORTLAND-VANCOUVER-HILLSBORO, OR-WA

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.

Portland's 213 lenders originated 9,784 VA loans during 2021. The total origination value was $3,784,440,000, with an average VA loan value of $386,799.

Portland VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Portland averaged 5.43% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

The average rate for the prior week (2022-05-13) was 5.54% and one month ago for the week of 2022-04-15, the average rate was 5.1%.

The average rate one year ago was 3.19%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.27%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Portland level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FREEDOM MORTGAGE CORPORATION 649 2.42% $3,504
PENNYMAC LOAN SERVICES, LLC 613 2.32% $7,123
QUICKEN LOANS, LLC 597 2.41% $6,237
Mortgage Research Center, LLC 526 2.75% $7,981
NATIONS DIRECT MORTGAGE, LLC 495 2.45% $7,567
CALIBER HOME LOANS, INC. 395 2.48% $7,222
UNITED WHOLESALE MORTGAGE, LLC 372 2.49% $7,194
GUILD MORTGAGE COMPANY 324 2.65% $8,877
LOANDEPOT.COM, LLC 250 2.46% $6,196
USAA Federal Savings Bank 196 2.86% $5,018
LAKEVIEW LOAN SERVICING, LLC 193 2.40% $3,335
NAVY FEDERAL CREDIT UNION 188 2.45% $6,860
HOME POINT FINANCIAL CORPORATION 183 2.39% $6,610
The Federal Savings Bank 160 2.45% $9,719
ACADEMY MORTGAGE CORPORATION 139 2.74% $10,508
NEW DAY FINANCIAL, LLC 128 2.75% $10,923
Umpqua Bank 125 2.68% $9,229
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 125 2.90% $9,423
FINANCE OF AMERICA MORTGAGE LLC 120 2.78% $8,781
HOMEBRIDGE FINANCIAL SERVICES, INC. 110 2.53% $7,655
Wells Fargo Bank 104 2.47% $5,088
Mr. Cooper ( Nationstar Mortgage ) 100 2.58% $5,112
PREMIER MORTGAGE RESOURCES, L.L.C. 99 2.43% $6,251
NEWREZ LLC 87 2.43% $4,173
DIRECTORS MORTGAGE, INC. 82 2.84% $9,167
CMG MORTGAGE, INC. 74 2.59% $10,503
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 69 2.82% $11,288
AMERICAN PACIFIC MORTGAGE CORPORATION 60 2.83% $9,849
VILLAGE CAPITAL & INVESTMENT LLC 59 2.36% $4,100
CROSSCOUNTRY MORTGAGE, LLC 58 2.80% $12,188
BROKER SOLUTIONS, INC. 54 2.51% $7,618
SUMMIT MORTGAGE CORPORATION 53 2.72% $7,149
GUARANTEED RATE, INC. 49 2.52% $7,786
PACIFIC RESIDENTIAL MORTGAGE, LLC 48 2.90% $10,494
HomeStreet Bank 45 2.58% $9,271
InterContinental Capital Group, Inc 41 2.33% $4,929
SOVEREIGN LENDING GROUP INCORPORATED 40 2.45% $4,901
AMERICAN FINANCIAL NETWORK, INC. 40 2.49% $10,715
Low VA Rates, LLC 40 2.46% $6,354
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 39 3.32% $10,583
PLANET HOME LENDING, LLC 38 2.45% $3,326
Flagstar Bank, FSB 38 2.53% $9,061
PENTAGON FEDERAL CREDIT UNION 36 2.34% $3,911
Sierra Pacific Mortgage Company, Inc. 36 2.82% $9,372
AMERISAVE MORTGAGE CORPORATION 36 2.56% $10,218
First Guaranty Mortgage Corporation 35 2.48% $5,341
SUN WEST MORTGAGE COMPANY, INC. 34 2.36% $5,016
Carrington Mortgage Services, LLC 34 2.83% $4,900
AMERICAN FINANCING CORPORATION 34 2.45% $6,624
NP, Inc. 34 2.32% $5,553
MOVEMENT MORTGAGE, LLC 32 2.87% $6,667
DHI MORTGAGE COMPANY, LTD. 30 2.58% $7,790
PLAZA HOME MORTGAGE, INC. 30 2.47% $6,959
U.S. Bank 29 2.75% $9,778
Willamette Valley Bank 29 2.79% $13,275
NBKC BANK 27 2.47% $7,072
Bank of England 27 2.80% $8,007
Barrington Bank & Trust Company, N.A. 27 2.61% $6,955
CHURCHILL MORTGAGE CORPORATION 27 2.71% $10,752
Magnolia Bank 26 2.63% $8,881
North American Savings Bank, F.S.B. 26 2.38% $4,792
Hometown Lenders, Inc. 26 2.98% $8,780
PRIMARY RESIDENTIAL MORTGAGE, INC. 25 2.99% $8,789
ACCELERATE MORTGAGE, LLC 25 2.26% $6,837
MUTUAL OF OMAHA MORTGAGE, INC. 25 2.56% $8,364
CANOPY MORTGAGE, LLC 24 2.50% $10,056
EAGLE HOME MORTGAGE, LLC 23 2.78% $7,054
Gateway First Bank 21 2.83% $7,889
CLEARPATH LENDING 20 2.13% $5,115
HOMEAMERICAN MORTGAGE CORPORATION 20 2.53% $5,113
AXIA FINANCIAL, LLC 20 2.93% $10,362
LENDUS, LLC 19 2.53% $6,422
PRIMELENDING, A PLAINSCAPITAL COMPANY 19 2.78% $9,013
BNC National Bank 18 2.33% $7,641
Commerce Home Mortgage, Inc. 18 2.78% $9,493
Paramount Residential Mortgage Group, Inc. 17 2.73% $7,858
GENEVA FINANCIAL, LLC 17 2.76% $8,979
S1L, Inc. 16 2.94% $8,596
Citizens Bank 16 2.55% $9,057
Prosperity Home Mortgage, LLC 15 2.68% $9,362
CHERRY CREEK MORTGAGE, LLC 15 2.48% $8,011
LOANPAL, LLC 14 2.39% $11,232
Strong Home Mortgage, LLC 14 2.39% $11,798
OnPoint Community Credit Union 14 2.91% $10,507
Banner Bank 13 2.53% $11,780
KS StateBank 12 2.31% $10,762
CELEBRITY HOME LOANS, LLC 12 2.76% $6,737
FIRST CENTENNIAL MORTGAGE CORPORATION 12 2.58% $5,912
First Federal Bank 11 3.59% $10,478
PANORAMA MORTGAGE GROUP, LLC 11 2.91% $11,143
LPMC, LLC 11 2.66% $5,502
MANN FINANCIAL INC. 11 2.58% $9,157
NETWORK CAPITAL FUNDING CORPORATION 10 2.53% $4,951
TJC Mortgage, Inc. 10 2.35% $3,771
Nations Lending Corporation 10 2.85% $9,457
HOME MORTGAGE ALLIANCE, LLC 9 2.65% $5,424
NFM, INC. 9 2.93% $8,359
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 9 2.89% $11,645
LEADERONE FINANCIAL CORPORATION 9 2.56% $9,771
SUMMIT FUNDING, INC. 9 2.93% $8,317
Wyndham Capital Mortgage, Inc. 8 2.27% $1,404
PENRITH HOME LOANS LLC 8 2.53% $6,419
Lakeview Community Capital, LLC 8 2.51% $3,188
Northpointe Bank 8 2.69% $7,571
Prime Choice Funding Inc. 7 2.25% $7,529
MUFG Union Bank 7 2.41% $4,543
BELEM SERVICING LLC 7 1.89% $11,743
MORTGAGE SOLUTIONS OF COLORADO, LLC 6 2.94% $8,578
AMERICAN FINANCIAL RESOURCES, INC. 6 2.73% $9,254
CONTOUR MORTGAGE CORPORATION 6 2.35% $14,988
MASON MCDUFFIE MORTGAGE CORPORATION 6 2.54% $11,874
Meridian Bank Corporation 6 2.38% $5,923
First Mortgage Solutions, LLC 6 2.27% $6,849
SECURITYNATIONAL MORTGAGE COMPANY 6 2.75% $13,122
STEARNS LENDING, LLC 5 2.55% $4,208
COLUMBIA COMMUNITY CREDIT UNION 5 2.55% $10,479
BAYSHORE MORTGAGE FUNDING, LLC 5 2.38% $5,259
South Pacific Financial Corporation 5 2.75% $9,540
KELLER MORTGAGE, LLC 4 2.53% $6,778
Mid-Continent Funding, Inc. 4 2.38% $13,785
MORTGAGEONE, INC. 4 2.50% $13,033
AmRes Corporation 4 2.63% $12,908
HOMESIDE FINANCIAL, LLC 4 2.44% $8,657
AmeriHome Mortgage Company, LLC 4 2.78% $4,785
BKCO MORTGAGE, LLC 4 3.13% $3,829
KeyBank 4 2.75% $6,640
UNITED MORTGAGE CORP. 3 3.13% $10,050
CORNERSTONE HOME LENDING, INC. 3 2.75% $21,851
The Central Trust Bank 3 2.42% $9,325
ON Q FINANCIAL, INC. 3 4.29% $8,396
GSF Mortgage Corporation 3 3.08% $6,750
Goldwater Bank, N.A. 3 2.63% $4,850
Golden Empire Mortgage, Inc. 3 2.92% $7,088
ROUNDPOINT MORTGAGE SERVICING CORPORATION 3 3.13% $5,881
PREMIER LENDING, INC. 3 2.88% $11,581
BAY EQUITY LLC 3 2.54% $8,342
ZILLOW HOME LOANS, LLC 3 2.63% $15,269
PRIORITY HOME LENDING, LLC 3 3.08% $6,875
RANLIFE, INC. 3 2.46% $12,647
VERITAS FUNDING, LLC 3 2.62% $16,455
V.I.P. MORTGAGE, INC. 3 2.42% $4,643
LADERA LENDING, INC. 3 2.33% $6,519
PARKSIDE LENDING, LLC 3 2.25% $3,193
Summit Mortgage Corporation 3 2.29% $6,337
Truist Bank 3 2.83% $2,145
Capital Bank 2 2.44% $11,494
EVERETT FINANCIAL, INC. 2 2.94% $12,236
FBC MORTGAGE, LLC 2 2.25% $2,178
DRAPER AND KRAMER MORTGAGE CORP. 2 2.69% $10,252
FirstBank 2 2.37% $2,002
First Savings Bank 2 2.25% $4,232
DATA MORTGAGE, INC. 2 3.44% $17,080
DAS Acquisition Company, LLC 2 2.56% $4,148
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 2.94% $3,980
Community First National Bank 2 2.25% $3,618
Hometown Equity Mortgage, LLC 2 2.69% $7,729
INTERCAP LENDING INC. 2 2.38% $3,847
Manufacturers and Traders Trust Company 2 2.63% $4,032
MID AMERICA MORTGAGE, INC. 2 2.69% $2,569
Century Mortgage Company DBA Century Lending Company 2 2.81% $2,714
Equity Prime Mortgage LLC 2 2.88% $7,281
NORTHWEST COMMUNITY 2 2.75% $4,500
Paramount Bank 2 2.75% $2,386
RELIANCE FIRST CAPITAL, LLC 2 2.81% $12,708
Texana Bank 2 2.25% $4,543
UNION HOME MORTGAGE CORP. 2 2.94% $7,328
PHH Mortgage Corporation 1 2.50% $21,010
CALCON MUTUAL MORTGAGE LLC 1 2.75% $7,307
First Federal Bank of Kansas City 1 3.50% $3,326
Republic Bank & Trust Company 1 2.50% $12,090
RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 2.88% $6,144
OCMBC, INC. 1 2.25% $6,591
OCEANSIDE MORTGAGE COMPANY 1 2.25% $1,555
SAMMAMISH MORTGAGE COMPANY 1 2.25% $14,803
NOVA FINANCIAL & INVESTMENT CORPORATION 1 2.25% $15,348
Service Federal Credit Union 1 2.63% $10,688
CASTPARTS EMPLOYEES 1 2.75% $8,674
SIRVA MORTGAGE, INC. 1 2.38% $2,036
Neighborhood Loans, Inc. 1 2.88% $14,798
SOUTHWEST STAGE FUNDING, LLC 1 2.25% $3,096
1st Security Bank of Washington 1 2.75% $20,878
S&S Financial 1 2.25% $5,719
Chickasaw Community Bank 1 2.88% $3,952
MEGA CAPITAL FUNDING, INC. 1 2.38% $12,613
CITYWIDE HOME LOANS, LLC 1 2.25% $2,365
LAND HOME FINANCIAL SERVICES, INC. 1 3.25% $22,247
JPMorgan Chase Bank 1 2.75% $3,410
Sunflower Bank 1 2.25% $2,193
Armed Forces Bank 1 3.00% $14,888
SWBC MORTGAGE CORPORATION 1 2.75% $7,684
Farmers & Stockmens Bank 1 2.63% $4,038
Columbia State Bank 1 2.75% $3,203
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 3.00% $1,831
THE MORTGAGE COMPANY 1 2.88% $22,343
TIAA, FSB 1 2.75% $11,352
INSPIRE HOME LOANS INC. 1 3.38% $5,135
TOP FLITE FINANCIAL, INC. 1 2.50% $3,978
TRISTAR FINANCE, INC. 1 2.88% $1,976
INLAND BANK & TRUST 1 3.00% $3,333
HOMESTEAD FUNDING CORP. 1 2.25% $1,147
ENVOY MORTGAGE, LTD 1 2.63% $7,752
HighTechLending Inc 1 2.00% $4,276
Credence Funding Corporation 1 2.88% $3,831
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.00% $0
Florida Capital Bank 1 2.25% $3,523
First Midwest Bank 1 2.25% $1,945
Alaska USA Mortgage Company LLC 1 2.75% $3,536
First Home Bank 1 2.63% $1,492
Alaska USA Federal Credit Union 1 2.75% $3,536
WESTERN EXPRESS LENDING 1 2.25% $2,170
BECKAM FUNDING CORP. 1 3.25% $11,242
PREMIA MORTGAGE, LLC 1 2.50% $13,861
BEST CAPITAL FUNDING 1 2.38% $7,075

The top Portland VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 649 VA loans originated. Their average total fees are $3,504, which is $3,619 lower than the next largest lender, PENNYMAC LOAN SERVICES, LLC.

The lowest fee Portland VA lenders (with over 10 loans originated) are PLANET HOME LENDING, LLC ($3,326), LAKEVIEW LOAN SERVICING, LLC ($3,335), FREEDOM MORTGAGE CORPORATION ($3,504), TJC Mortgage, Inc. ($3,771) and PENTAGON FEDERAL CREDIT UNION ($3,911).

The lowest rate Portland VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.13%), ACCELERATE MORTGAGE, LLC (2.26%), KS StateBank (2.31%), PENNYMAC LOAN SERVICES, LLC (2.32%) and NP, Inc. (2.32%).

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.