Portland VA Loan Rates, Closing Costs & Stats

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 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 133 lenders originated 1,606 VA loans during 2023. The total origination value was $786,790,000, with an average VA loan value of $489,907.

Portland VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Portland averaged 6.6% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

Portland's average VA mortgage closing costs are $8,171.

The average rate for the prior week (2024-04-05) was 6.65% and one month ago for the week of 2024-03-08, the average rate was 6.58%.

The average rate one year ago was 5.78%.

For refis of the same type during the week of 2024-04-12, the average rate was 7.16%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 182 6.56% $8,219
UNITED WHOLESALE MORTGAGE, LLC 155 6.13% $9,214
QUICKEN LOANS, LLC 98 6.00% $16,330
NATIONS DIRECT MORTGAGE, LLC 73 6.25% $11,984
NAVY FEDERAL CREDIT UNION 64 5.72% $7,523
GUILD MORTGAGE COMPANY 49 6.37% $15,211
CMG MORTGAGE, INC. 48 6.25% $14,747
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 48 6.39% $9,733
USAA Federal Savings Bank 36 6.14% $11,583
MORTGAGE EXPRESS, LLC 29 6.28% $12,869
DHI MORTGAGE COMPANY, LTD. 28 5.56% $6,960
CROSSCOUNTRY MORTGAGE, LLC 27 6.56% $11,972
FREEDOM MORTGAGE CORPORATION 27 6.38% $20,448
LOANDEPOT.COM, LLC 26 5.47% $14,291
PENNYMAC LOAN SERVICES, LLC 25 5.62% $11,748
GUARANTEED RATE, INC. 24 6.24% $8,493
NEWREZ LLC 23 6.36% $11,668
EAGLE HOME MORTGAGE, LLC 22 5.86% $7,174
The Federal Savings Bank 21 6.26% $20,200
Paramount Residential Mortgage Group, Inc. 20 6.40% $11,110
BROKER SOLUTIONS, INC. 19 6.45% $12,786
SUMMIT MORTGAGE CORPORATION 17 6.07% $19,566
CALIBER HOME LOANS, INC. 16 5.93% $10,943
CARDINAL FINANCIAL 16 6.54% $22,159
ACADEMY MORTGAGE CORPORATION 16 6.52% $11,695
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 14 6.50% $15,693
VILLAGE CAPITAL MORTGAGE 14 6.54% $12,387
PENTAGON FEDERAL CREDIT UNION 14 5.53% $9,218
NEW DAY FINANCIAL, LLC 12 7.53% $21,116
AMERICAN PACIFIC MORTGAGE CORPORATION 12 6.47% $15,778
Flagstar Bank, FSB 12 6.38% $14,257
S1L, Inc. 11 6.49% $13,654
Mr. Cooper ( Nationstar Mortgage ) 11 5.89% $22,482
Wells Fargo Bank 11 5.86% $6,390
HOMEAMERICAN MORTGAGE CORPORATION 10 5.05% $6,221
HomeStreet Bank 10 6.20% $17,382
MOVEMENT MORTGAGE, LLC 10 6.50% $11,078
CORNERSTONE HOME LENDING, INC. 9 6.53% $10,038
Plains Commerce Bank 9 5.99% $12,578
AMERISAVE MORTGAGE CORPORATION 9 5.88% $15,819
PACIFIC RESIDENTIAL MORTGAGE, LLC 8 6.64% $15,507
American Mortgage & Equity Consultants, Inc. 8 6.45% $13,781
MUTUAL OF OMAHA MORTGAGE, INC. 8 6.00% $14,150
HOMEBRIDGE FINANCIAL SERVICES, INC. 8 5.89% $10,588
BAY EQUITY LLC 8 6.31% $13,313
Century Mortgage Company DBA Century Lending Company 7 5.87% $8,095
ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 6.55% $11,985
MANN FINANCIAL INC. 6 6.29% $11,676
Equity Prime Mortgage LLC 6 5.83% $15,473
Prosperity Home Mortgage, LLC 6 6.27% $15,181
NBKC BANK 6 5.77% $9,348
PRIMARY RESIDENTIAL MORTGAGE, INC. 6 6.48% $12,612
PLAZA HOME MORTGAGE, INC. 6 5.94% $14,253
JPMorgan Chase Bank 5 6.35% $6,317
U.S. Bank 5 5.70% $2,986
Sierra Pacific Mortgage Company, Inc. 5 5.90% $12,491
Magnolia Bank 5 5.88% $25,486
DIRECTORS MORTGAGE, INC. 5 6.60% $14,179
Barrington Bank & Trust Company, N.A. 5 5.75% $10,591
CANOPY MORTGAGE, LLC 5 6.42% $14,341
Willamette Valley Bank 5 5.93% $12,953
PANORAMA MORTGAGE GROUP, LLC 5 6.63% $15,864
NFM, INC. 4 6.66% $14,581
PREMIER MORTGAGE RESOURCES, L.L.C. 4 6.75% $21,535
South Pacific Financial Corporation 4 5.47% $10,001
Armed Forces Bank 4 6.16% $9,553
SOVEREIGN LENDING GROUP INCORPORATED 4 5.40% $25,118
MASON MCDUFFIE MORTGAGE CORPORATION 4 6.37% $15,514
OnPoint Community Credit Union 4 6.22% $7,439
AMERICAN FINANCIAL NETWORK, INC. 3 5.92% $3,082
Hometown Equity Mortgage, LLC 3 6.17% $18,130
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.00% $18,184
GUARANTEED RATE AFFINITY, LLC 3 6.33% $4,526
PENRITH HOME LOANS LLC 3 6.67% $23,546
PLANET HOME LENDING, LLC 3 5.50% $15,310
Neighborhood Loans, Inc. 2 6.56% $11,005
AMERICAN FINANCIAL RESOURCES, INC. 2 7.13% $15,050
Ameris Bank 2 6.69% $16,509
Bank of England 2 6.25% $3,543
BNC National Bank 2 5.25% $5,551
CHURCHILL MORTGAGE CORPORATION 2 6.50% $22,329
Citizens Bank 2 6.00% $16,803
Farmers Bank & Trust 2 5.50% $19,246
GENEVA FINANCIAL, LLC 2 6.31% $11,801
HOMESIDE FINANCIAL, LLC 2 6.19% $8,726
KeyBank 2 6.38% $6,754
LEADERONE FINANCIAL CORPORATION 2 6.81% $9,256
LPMC, LLC 2 6.19% $23,396
MLD MORTGAGE INC. 2 6.06% $7,479
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.00% $0
1st Security Bank of Washington 2 5.88% $28,200
Northpointe Bank 2 5.00% $19,211
NOVA FINANCIAL & INVESTMENT CORPORATION 2 6.94% $25,371
RESIDENTIAL MORTGAGE, LLC 2 5.87% $12,967
SAMMAMISH MORTGAGE COMPANY 2 5.19% $11,487
SIRVA MORTGAGE, INC. 2 6.69% $4,938
SUMMIT FUNDING, INC. 2 6.50% $14,772
The Central Trust Bank 2 5.25% $15,919
Umpqua Bank 2 4.44% $21,377
UNION HOME MORTGAGE CORP. 2 7.13% $9,869
INTERCAP LENDING INC. 1 5.75% $42,123
INROADS 1 7.63% $8,651
HOMEXPRESS MORTGAGE CORP. 1 7.38% $17,216
HomePromise Corporation 1 7.50% $26,874
Golden Empire Mortgage, Inc. 1 6.75% $6,419
Franklin Loan Corporation 1 5.75% $19,191
Florida Capital Bank 1 5.63% $6,753
RANLIFE, INC. 1 6.13% $12,059
RELIANCE FIRST CAPITAL, LLC 1 5.25% $37,568
RESIDENTIAL BANCORP 1 6.63% $27,252
CHERRY CREEK MORTGAGE, LLC 1 5.63% $0
First Federal Bank 1 5.75% $11,499
Carrington Mortgage Services, LLC 1 5.13% $14,688
SECURITYNATIONAL MORTGAGE COMPANY 1 6.25% $15,804
FIRST CENTENNIAL MORTGAGE CORPORATION 1 7.13% $3,194
Bell Bank 1 6.75% $11,136
First Bank 1 7.00% $5,638
ENVOY MORTGAGE, LTD 1 6.75% $17,031
Bank of America 1 5.00% $25,186
Cornerstone First Mortgage, Inc 1 6.88% $15,802
SUN WEST MORTGAGE COMPANY, INC. 1 6.12% $11,447
Waterstone Mortgage Corporation 1 5.25% $23,150
Commerce Home Mortgage, Inc. 1 7.13% $6,763
The Loan Store, Inc. 1 5.63% $12,445
AmeriHome Mortgage Company, LLC 1 6.50% $7,667
AMERICAN FINANCING CORPORATION 1 6.13% $4,167
Paramount Bank 1 6.50% $18,596
OCMBC, INC. 1 7.13% $41,077
North American Savings Bank, F.S.B. 1 5.13% $9,662
NATIONWIDE MORTGAGE BANKERS, INC. 1 7.13% $15,606
M&T Bank 1 6.75% $14,924
PHH Mortgage Corporation 1 5.63% $8,337
Ixonia Bank 1 6.75% $13,345

The top Portland VA lender as defined by loan originations is Mortgage Research Center, LLC, with 182 VA loans originated. Their average total fees are $8,219, which is $995 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Portland VA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION ($6,221), Wells Fargo Bank ($6,390), DHI MORTGAGE COMPANY, LTD. ($6,960), EAGLE HOME MORTGAGE, LLC ($7,174) and NAVY FEDERAL CREDIT UNION ($7,523).

The lowest rate Portland VA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION (5.05%), LOANDEPOT.COM, LLC (5.47%), PENTAGON FEDERAL CREDIT UNION (5.53%), DHI MORTGAGE COMPANY, LTD. (5.56%) and PENNYMAC LOAN SERVICES, LLC (5.62%).


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 $476,538 (4.2%) $624,738 (3.7%) 1.77 4,642
2018-02-01 $482,475 (2.1%) $639,191 (4.1%) 1.75 4,444
2018-03-01 $495,000 (3.0%) $639,960 (2.1%) 1.74 4,759
2018-04-01 $499,000 (2.9%) $638,700 (1.7%) 1.69 5,380
2018-05-01 $499,700 (2.0%) $639,825 (1.6%) 1.67 6,268
2018-06-01 $495,945 (1.6%) $629,965 (1.6%) 1.65 7,129
2018-07-01 $484,500 (0.9%) $616,379 (1.5%) 1.62 8,101
2018-08-01 $479,000 (0.8%) $604,146 (0.9%) 1.60 8,623
2018-09-01 $472,000 (0.6%) $593,493 (0.3%) 1.59 8,950
2018-10-01 $469,900 (0.1%) $590,304 (-0.3%) 1.59 8,693
2018-11-01 $469,900 (0.0%) $593,258 (-1.0%) 1.59 8,070
2018-12-01 $469,900 (-1.1%) $601,163 (-2.1%) 1.62 6,944
2019-01-01 $473,044 (-0.7%) $603,633 (-3.4%) 1.63 6,164
2019-02-01 $477,949 (-0.9%) $611,933 (-4.3%) 1.61 6,019
2019-03-01 $480,657 (-2.9%) $611,249 (-4.5%) 1.57 6,278
2019-04-01 $475,720 (-4.7%) $604,133 (-5.4%) 1.51 6,832
2019-05-01 $478,950 (-4.2%) $604,692 (-5.5%) 1.50 7,392
2019-06-01 $479,000 (-3.4%) $601,300 (-4.6%) 1.50 8,307
2019-07-01 $474,950 (-2.0%) $598,894 (-2.8%) 1.49 8,601
2019-08-01 $473,291 (-1.2%) $598,581 (-0.9%) 1.50 8,498
2019-09-01 $470,877 (-0.2%) $597,153 (0.6%) 1.51 8,255
2019-10-01 $465,350 (-1.0%) $590,927 (0.1%) 1.50 7,952
2019-11-01 $463,980 (-1.3%) $593,276 (0.0%) 1.52 6,942
2019-12-01 $466,500 (-0.7%) $597,951 (-0.5%) 1.56 5,651
2020-01-01 $472,170 (-0.2%) $609,994 (1.1%) 1.58 4,866
2020-02-01 $479,000 (0.2%) $616,550 (0.8%) 1.57 4,427
2020-03-01 $479,450 (-0.3%) $621,009 (1.6%) 1.50 4,816
2020-04-01 $475,725 (0.0%) $607,767 (0.6%) 1.49 5,676
2020-05-01 $488,500 (2.0%) $617,166 (2.1%) 1.48 5,748
2020-06-01 $499,000 (4.2%) $631,032 (4.9%) 1.47 5,376
2020-07-01 $499,900 (5.3%) $642,495 (7.3%) 1.45 5,134
2020-08-01 $499,960 (5.6%) $650,939 (8.8%) 1.43 5,056
2020-09-01 $499,980 (6.2%) $654,864 (9.7%) 1.43 4,745
2020-10-01 $510,000 (9.6%) $661,247 (11.9%) 1.46 4,499
2020-11-01 $512,500 (10.5%) $669,846 (12.9%) 1.50 3,848
2020-12-01 $507,500 (8.8%) $674,314 (12.8%) 1.51 2,958
2021-01-01 $499,900 (5.9%) $682,776 (11.9%) 1.49 2,486
2021-02-01 $502,880 (5.0%) $691,012 (12.1%) 1.46 2,244
2021-03-01 $511,875 (6.8%) $684,314 (10.2%) 1.45 2,403
2021-04-01 $525,000 (10.4%) $693,193 (14.1%) 1.42 2,637
2021-05-01 $549,900 (12.6%) $717,025 (16.2%) 1.46 2,848
2021-06-01 $554,950 (11.2%) $726,786 (15.2%) 1.46 3,337
2021-07-01 $555,000 (11.0%) $731,698 (13.9%) 1.46 3,758
2021-08-01 $550,000 (10.0%) $722,960 (11.1%) 1.47 3,852
2021-09-01 $550,000 (10.0%) $724,111 (10.6%) 1.47 3,995
2021-10-01 $550,000 (7.8%) $721,293 (9.1%) 1.47 3,908
2021-11-01 $550,000 (7.3%) $725,117 (8.3%) 1.47 3,127
2021-12-01 $549,250 (8.2%) $728,293 (8.0%) 1.49 2,376
2022-01-01 $550,000 (10.0%) $739,209 (8.3%) 1.49 1,835
2022-02-01 $561,950 (11.8%) $737,166 (6.7%) 1.46 1,923
2022-03-01 $573,950 (12.1%) $737,757 (7.8%) 1.44 2,142
2022-04-01 $585,000 (11.4%) $754,828 (8.9%) 1.39 2,343
2022-05-01 $597,450 (8.7%) $760,144 (6.0%) 1.37 3,414
2022-06-01 $599,995 (8.1%) $762,564 (4.9%) 1.34 4,391
2022-07-01 $599,000 (7.9%) $754,182 (3.1%) 1.35 5,649
2022-08-01 $590,500 (7.4%) $746,184 (3.2%) 1.37 5,810
2022-09-01 $589,900 (7.3%) $761,963 (5.2%) 1.38 5,839
2022-10-01 $579,900 (5.4%) $760,826 (5.5%) 1.36 5,852
2022-11-01 $582,478 (5.9%) $769,365 (6.1%) 1.40 5,511
2022-12-01 $589,900 (7.4%) $779,861 (7.1%) 1.46 4,556
2023-01-01 $597,450 (8.6%) $793,439 (7.3%) 1.48 3,810
2023-02-01 $607,050 (8.0%) $812,754 (10.3%) 1.47 3,391
2023-03-01 $614,896 (7.1%) $825,588 (11.9%) 1.45 3,384
2023-04-01 $629,000 (7.5%) $834,101 (10.5%) 1.46 3,543
2023-05-01 $639,687 (7.1%) $829,802 (9.2%) 1.45 4,148
2023-06-01 $640,000 (6.7%) $824,741 (8.2%) 1.44 4,745
2023-07-01 $639,900 (6.8%) $826,915 (9.6%) 1.45 5,311
2023-08-01 $637,725 (8.0%) $826,434 (10.8%) 1.46 5,503
2023-09-01 $625,000 (6.0%) $811,158 (6.5%) 1.46 5,656
2023-10-01 $619,995 (6.9%) $806,580 (6.0%) 1.46 5,748
2023-11-01 $603,725 (3.7%) $795,828 (3.4%) 1.44 5,587
2023-12-01 $600,000 (1.7%) $799,713 (2.6%) 1.46 4,897
2024-01-01 $603,772 (1.1%) $804,123 (1.4%) 1.47 4,261
2024-02-01 $600,000 (-1.2%) $802,232 (-1.3%) 1.44 4,106
2024-03-01 $605,000 (-1.6%) $806,258 (-2.3%) 1.42 4,288
Portland's median listing price for 2024-03-01 was $605,000, a difference of $-9,896 (-1.6%) versus the prior year and $5,000 versus the prior month.

Portland's median listing price comes in at 142% of the national average.

Portland's average listing price for 2024-03-01 was $806,258, a difference of $-19,330 (-2.3%) versus the prior year and $4,026 versus the prior month.

For the 2024-03-01 period, Portland had 4,288 MLS listings, a difference of 182 listings (4%) versus the prior month and 904 listings (27%) 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 62 days 2,269 sqft
2018-02-01 42 days 2,276 sqft
2018-03-01 34 days 2,273 sqft
2018-04-01 30 days 2,278 sqft
2018-05-01 30 days 2,279 sqft
2018-06-01 32 days 2,250 sqft
2018-07-01 37 days 2,219 sqft
2018-08-01 38 days 2,190 sqft
2018-09-01 44 days 2,159 sqft
2018-10-01 49 days 2,145 sqft
2018-11-01 56 days 2,150 sqft
2018-12-01 67 days 2,144 sqft
2019-01-01 69 days 2,139 sqft
2019-02-01 47 days 2,156 sqft
2019-03-01 39 days 2,146 sqft
2019-04-01 35 days 2,133 sqft
2019-05-01 32 days 2,141 sqft
2019-06-01 36 days 2,159 sqft
2019-07-01 39 days 2,151 sqft
2019-08-01 43 days 2,137 sqft
2019-09-01 47 days 2,131 sqft
2019-10-01 50 days 2,113 sqft
2019-11-01 61 days 2,100 sqft
2019-12-01 74 days 2,098 sqft
2020-01-01 74 days 2,113 sqft
2020-02-01 55 days 2,112 sqft
2020-03-01 42 days 2,096 sqft
2020-04-01 43 days 2,097 sqft
2020-05-01 53 days 2,107 sqft
2020-06-01 50 days 2,121 sqft
2020-07-01 43 days 2,107 sqft
2020-08-01 42 days 2,102 sqft
2020-09-01 49 days 2,080 sqft
2020-10-01 57 days 2,056 sqft
2020-11-01 62 days 2,048 sqft
2020-12-01 64 days 2,000 sqft
2021-01-01 51 days 1,942 sqft
2021-02-01 37 days 1,881 sqft
2021-03-01 32 days 1,903 sqft
2021-04-01 30 days 1,912 sqft
2021-05-01 30 days 1,947 sqft
2021-06-01 27 days 1,975 sqft
2021-07-01 33 days 1,978 sqft
2021-08-01 37 days 1,965 sqft
2021-09-01 40 days 1,961 sqft
2021-10-01 42 days 1,931 sqft
2021-11-01 51 days 1,908 sqft
2021-12-01 49 days 1,861 sqft
2022-01-01 59 days 1,852 sqft
2022-02-01 28 days 1,832 sqft
2022-03-01 28 days 1,835 sqft
2022-04-01 26 days 1,851 sqft
2022-05-01 23 days 1,929 sqft
2022-06-01 24 days 1,982 sqft
2022-07-01 30 days 2,001 sqft
2022-08-01 37 days 2,002 sqft
2022-09-01 44 days 1,996 sqft
2022-10-01 44 days 1,989 sqft
2022-11-01 51 days 1,995 sqft
2022-12-01 65 days 2,001 sqft
2023-01-01 72 days 2,021 sqft
2023-02-01 53 days 2,039 sqft
2023-03-01 44 days 2,043 sqft
2023-04-01 37 days 2,064 sqft
2023-05-01 34 days 2,088 sqft
2023-06-01 34 days 2,094 sqft
2023-07-01 38 days 2,111 sqft
2023-08-01 41 days 2,112 sqft
2023-09-01 45 days 2,080 sqft
2023-10-01 48 days 2,057 sqft
2023-11-01 54 days 2,024 sqft
2023-12-01 66 days 2,004 sqft
2024-01-01 71 days 2,006 sqft
2024-02-01 55 days 1,998 sqft
2024-03-01 45 days 1,996 sqft
Portland's median listing age (time on market) for 2024-03-01 was 45 days. This is 3% longer than the same period one year ago.

Portland's median square footage for active listings during the 2024-03-01 period was 1,996 sqft. One year prior, the average listing was 2,043 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.