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
5.83%
for the week of 2024-10-04, compared to the national average (all VA variants) of
5.596% for the same period.
Portland's average VA mortgage closing costs are $8,171.
The average rate for the prior week (2024-09-27) was
5.55% and
one month ago for the week of 2024-08-30, the
average rate was 5.78%.
The average rate one year ago was 7.01%.
For refis of the same type during the week of 2024-10-04, the average rate
was 6.08%.
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.
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. LouisDate | 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 |
2024-04-01 | $615,000 (-2.2%) | $811,500 (-2.7%) | 1.43 | 4,871 |
2024-05-01 | $625,000 (-2.3%) | $830,141 (0.0%) | 1.41 | 5,684 |
2024-06-01 | $625,000 (-2.3%) | $824,483 (0.0%) | 1.40 | 6,384 |
2024-07-01 | $617,497 (-3.5%) | $803,217 (-2.9%) | 1.41 | 6,898 |
2024-08-01 | $615,000 (-3.6%) | $794,214 (-3.9%) | 1.43 | 7,085 |
2024-09-01 | $604,890 (-3.2%) | $788,538 (-2.8%) | 0.00 | 7,233 |
Portland's median listing price comes in at 0% of the national average.
Portland's average listing price for 2024-09-01 was $788,538, a difference of $-22,620 (-2.8%) versus the prior year and $-5,676 versus the prior month.
For the 2024-09-01 period, Portland had 7,233 MLS listings, a difference of 148 listings (2%) versus the prior month and 1,577 listings (28%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 |
2024-04-01 | 39 days | 2,009 sqft |
2024-05-01 | 36 days | 2,027 sqft |
2024-06-01 | 40 days | 2,034 sqft |
2024-07-01 | 47 days | 2,019 sqft |
2024-08-01 | 51 days | 2,014 sqft |
2024-09-01 | 0 days | 2,010 sqft |
Portland's median square footage for active listings during the 2024-09-01 period was 2,010 sqft. One year prior, the average listing was 2,080 sqft.