Redding VA Loan Rates, Closing Costs & Stats

REDDING, CA

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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.

    Redding's 40 lenders originated 175 VA loans during 2023. The total origination value was $66,425,000, with an average VA loan value of $379,571.

    Redding VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Redding averaged 7.07% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Redding's average VA mortgage closing costs are $6,180.

    The average rate for the prior week (2024-04-12) was 7.01% and one month ago for the week of 2024-03-15, the average rate was 6.47%.

    The average rate one year ago was 6.16%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.82%.

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

    Redding 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 Redding level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 20 6.73% $10,528
    AMERICAN PACIFIC MORTGAGE CORPORATION 18 6.65% $12,715
    QUICKEN LOANS, LLC 14 6.11% $13,063
    UNITED WHOLESALE MORTGAGE, LLC 13 5.86% $9,694
    INFINITY EQUITY GROUP, INC. 8 6.67% $6,010
    DHI MORTGAGE COMPANY, LTD. 7 5.58% $10,279
    USAA Federal Savings Bank 6 6.77% $13,107
    ON Q FINANCIAL, INC. 6 6.79% $8,507
    CROSSCOUNTRY MORTGAGE, LLC 5 6.59% $6,949
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 5.75% $8,516
    MORTGAGEONE, INC. 4 7.00% $7,951
    LOANDEPOT.COM, LLC 3 5.96% $9,515
    Equity Prime Mortgage LLC 3 6.83% $13,358
    PENNYMAC LOAN SERVICES, LLC 3 5.13% $7,365
    FREEDOM MORTGAGE CORPORATION 3 6.63% $11,786
    NAVY FEDERAL CREDIT UNION 3 5.96% $5,574
    MOVEMENT MORTGAGE, LLC 3 6.38% $16,714
    ACADEMY MORTGAGE CORPORATION 2 6.75% $11,477
    AMERISAVE MORTGAGE CORPORATION 2 5.38% $19,588
    Cornerstone First Mortgage, Inc 2 6.00% $11,577
    NEWREZ LLC 2 6.94% $9,935
    Plains Commerce Bank 2 6.88% $14,999
    LOANPAL, LLC 1 5.50% $18,147
    LAND HOME FINANCIAL SERVICES, INC. 1 5.75% $13,400
    NBKC BANK 1 6.50% $2,391
    NEW DAY FINANCIAL, LLC 1 6.25% $13,966
    VILLAGE CAPITAL MORTGAGE 1 8.75% $7,377
    GUILD MORTGAGE COMPANY 1 7.13% $6,460
    EVERETT FINANCIAL, INC. 1 6.50% $7,963
    ZILLOW HOME LOANS, LLC 1 7.63% $8,713
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.25% $6,440
    Prosperity Home Mortgage, LLC 1 6.13% $10,308
    Century Mortgage Company DBA Century Lending Company 1 5.88% $16,020
    SOVEREIGN LENDING GROUP INCORPORATED 1 6.25% $23,270
    SUMMIT FUNDING, INC. 1 6.75% $8,376
    SUN WEST MORTGAGE COMPANY, INC. 1 7.13% $3,910
    BROKER SOLUTIONS, INC. 1 7.63% $17,046
    ALAMEDA MORTGAGE CORPORATION 1 7.25% $7,056
    Magnolia Bank 1 5.63% $11,067
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.00% $1,303

    The top Redding VA lender as defined by loan originations is Mortgage Research Center, LLC, with 20 VA loans originated. Their average total fees are $10,528, which is $2,187 lower than the next largest lender, AMERICAN PACIFIC MORTGAGE CORPORATION.

    The lowest fee Redding VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($9,694), Mortgage Research Center, LLC ($10,528), AMERICAN PACIFIC MORTGAGE CORPORATION ($12,715), QUICKEN LOANS, LLC ($13,063) and .

    The lowest rate Redding VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.86%), QUICKEN LOANS, LLC (6.11%), AMERICAN PACIFIC MORTGAGE CORPORATION (6.65%), Mortgage Research Center, LLC (6.73%) and .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Redding (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 $321,500 (8.6%) $403,848 (2.8%) 1.19 601
    2018-02-01 $329,225 (9.8%) $401,777 (0.8%) 1.20 625
    2018-03-01 $329,900 (3.0%) $408,033 (0.2%) 1.16 670
    2018-04-01 $329,000 (-0.3%) $402,410 (-4.4%) 1.12 724
    2018-05-01 $329,975 (3.5%) $413,520 (5.1%) 1.10 786
    2018-06-01 $327,500 (3.2%) $405,212 (4.1%) 1.09 844
    2018-07-01 $317,000 (1.2%) $382,582 (-0.2%) 1.06 871
    2018-08-01 $312,425 (1.1%) $383,511 (-0.3%) 1.05 764
    2018-09-01 $324,650 (1.8%) $395,132 (0.5%) 1.09 763
    2018-10-01 $325,125 (1.8%) $400,445 (2.8%) 1.10 775
    2018-11-01 $332,200 (4.8%) $416,371 (5.5%) 1.13 743
    2018-12-01 $329,450 (3.5%) $421,437 (5.0%) 1.14 713
    2019-01-01 $333,350 (3.7%) $430,589 (6.6%) 1.15 662
    2019-02-01 $327,000 (-0.7%) $430,424 (7.1%) 1.10 659
    2019-03-01 $324,943 (-1.5%) $431,372 (5.7%) 1.06 650
    2019-04-01 $327,450 (-0.5%) $436,114 (8.4%) 1.04 641
    2019-05-01 $339,950 (3.0%) $435,776 (5.4%) 1.06 724
    2019-06-01 $339,900 (3.8%) $434,063 (7.1%) 1.06 803
    2019-07-01 $333,575 (5.2%) $422,672 (10.5%) 1.04 793
    2019-08-01 $331,636 (6.2%) $424,062 (10.6%) 1.05 780
    2019-09-01 $330,716 (1.9%) $426,752 (8.0%) 1.06 781
    2019-10-01 $332,852 (2.4%) $428,546 (7.0%) 1.07 774
    2019-11-01 $339,000 (2.1%) $440,275 (5.7%) 1.11 708
    2019-12-01 $336,950 (2.3%) $445,673 (5.8%) 1.12 614
    2020-01-01 $347,850 (4.4%) $457,451 (6.2%) 1.16 558
    2020-02-01 $342,450 (4.7%) $458,946 (6.6%) 1.12 541
    2020-03-01 $357,225 (9.9%) $466,025 (8.0%) 1.12 558
    2020-04-01 $362,900 (10.8%) $466,691 (7.0%) 1.14 597
    2020-05-01 $379,900 (11.8%) $470,186 (7.9%) 1.15 592
    2020-06-01 $394,450 (16.1%) $486,358 (12.1%) 1.16 556
    2020-07-01 $400,575 (20.1%) $510,485 (20.8%) 1.16 467
    2020-08-01 $399,000 (20.3%) $558,104 (31.6%) 1.14 415
    2020-09-01 $398,450 (20.5%) $586,929 (37.5%) 1.14 415
    2020-10-01 $398,750 (19.8%) $565,627 (32.0%) 1.14 457
    2020-11-01 $399,000 (17.7%) $573,846 (30.3%) 1.17 451
    2020-12-01 $414,500 (23.0%) $589,681 (32.3%) 1.23 387
    2021-01-01 $427,000 (22.8%) $614,662 (34.4%) 1.27 316
    2021-02-01 $431,000 (25.9%) $630,215 (37.3%) 1.25 293
    2021-03-01 $426,500 (19.4%) $618,482 (32.7%) 1.21 301
    2021-04-01 $427,475 (17.8%) $649,269 (39.1%) 1.16 279
    2021-05-01 $449,900 (18.4%) $714,972 (52.1%) 1.20 309
    2021-06-01 $456,225 (15.7%) $700,595 (44.1%) 1.20 347
    2021-07-01 $425,000 (6.1%) $651,532 (27.6%) 1.12 394
    2021-08-01 $432,000 (8.3%) $634,507 (13.7%) 1.15 427
    2021-09-01 $439,450 (10.3%) $639,153 (8.9%) 1.17 438
    2021-10-01 $442,750 (11.0%) $604,308 (6.8%) 1.18 442
    2021-11-01 $438,500 (9.9%) $603,113 (5.1%) 1.17 431
    2021-12-01 $438,500 (5.8%) $598,196 (1.4%) 1.19 376
    2022-01-01 $459,900 (7.7%) $618,810 (0.7%) 1.24 310
    2022-02-01 $479,950 (11.4%) $643,092 (2.0%) 1.25 307
    2022-03-01 $489,000 (14.7%) $675,283 (9.2%) 1.22 338
    2022-04-01 $475,000 (11.1%) $686,254 (5.7%) 1.13 374
    2022-05-01 $472,200 (5.0%) $647,622 (-9.4%) 1.08 411
    2022-06-01 $472,000 (3.5%) $631,175 (-9.9%) 1.05 450
    2022-07-01 $430,000 (1.2%) $593,154 (-9.0%) 0.97 524
    2022-08-01 $439,000 (1.6%) $605,928 (-4.5%) 1.01 533
    2022-09-01 $439,125 (-0.1%) $611,198 (-4.4%) 1.03 539
    2022-10-01 $424,900 (-4.0%) $587,739 (-2.7%) 1.00 538
    2022-11-01 $413,200 (-5.8%) $586,823 (-2.7%) 0.99 513
    2022-12-01 $418,000 (-4.7%) $595,172 (-0.5%) 1.03 434
    2023-01-01 $409,200 (-11.0%) $592,585 (-4.2%) 1.01 395
    2023-02-01 $425,000 (-11.5%) $605,604 (-5.8%) 1.03 368
    2023-03-01 $439,825 (-10.1%) $615,764 (-8.8%) 1.04 352
    2023-04-01 $445,000 (-6.3%) $622,366 (-9.3%) 1.03 350
    2023-05-01 $446,248 (-5.5%) $602,037 (-7.0%) 1.01 401
    2023-06-01 $450,000 (-4.7%) $652,583 (3.4%) 1.01 435
    2023-07-01 $455,000 (5.8%) $622,625 (5.0%) 1.03 484
    2023-08-01 $457,150 (4.1%) $649,948 (7.3%) 1.05 511
    2023-09-01 $448,800 (2.2%) $642,268 (5.1%) 1.04 508
    2023-10-01 $431,498 (1.6%) $632,177 (7.6%) 1.02 491
    2023-11-01 $429,900 (4.0%) $634,743 (8.2%) 1.02 462
    2023-12-01 $437,738 (4.7%) $648,623 (9.0%) 1.07 414
    2024-01-01 $432,200 (5.6%) $666,679 (12.5%) 1.06 365
    2024-02-01 $439,000 (3.3%) $681,131 (12.5%) 1.06 346
    2024-03-01 $449,000 (2.1%) $694,589 (12.8%) 1.06 344
    Redding's median listing price for 2024-03-01 was $449,000, a difference of $9,175 (2.1%) versus the prior year and $10,000 versus the prior month.

    Redding's median listing price comes in at 106% of the national average.

    Redding's average listing price for 2024-03-01 was $694,589, a difference of $78,825 (12.8%) versus the prior year and $13,458 versus the prior month.

    For the 2024-03-01 period, Redding had 344 MLS listings, a difference of -2 listings (-1%) versus the prior month and -8 listings (-2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Redding (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 81 days 1,801 sqft
    2018-02-01 63 days 1,802 sqft
    2018-03-01 52 days 1,827 sqft
    2018-04-01 53 days 1,814 sqft
    2018-05-01 47 days 1,830 sqft
    2018-06-01 51 days 1,818 sqft
    2018-07-01 58 days 1,774 sqft
    2018-08-01 61 days 1,754 sqft
    2018-09-01 60 days 1,785 sqft
    2018-10-01 61 days 1,809 sqft
    2018-11-01 62 days 1,830 sqft
    2018-12-01 72 days 1,827 sqft
    2019-01-01 76 days 1,836 sqft
    2019-02-01 72 days 1,841 sqft
    2019-03-01 61 days 1,827 sqft
    2019-04-01 44 days 1,819 sqft
    2019-05-01 39 days 1,844 sqft
    2019-06-01 45 days 1,810 sqft
    2019-07-01 56 days 1,782 sqft
    2019-08-01 59 days 1,792 sqft
    2019-09-01 59 days 1,805 sqft
    2019-10-01 62 days 1,828 sqft
    2019-11-01 65 days 1,840 sqft
    2019-12-01 79 days 1,819 sqft
    2020-01-01 84 days 1,832 sqft
    2020-02-01 60 days 1,819 sqft
    2020-03-01 46 days 1,882 sqft
    2020-04-01 49 days 1,895 sqft
    2020-05-01 49 days 1,924 sqft
    2020-06-01 52 days 1,978 sqft
    2020-07-01 61 days 1,978 sqft
    2020-08-01 52 days 1,908 sqft
    2020-09-01 38 days 1,904 sqft
    2020-10-01 40 days 1,899 sqft
    2020-11-01 46 days 1,897 sqft
    2020-12-01 61 days 1,919 sqft
    2021-01-01 70 days 1,940 sqft
    2021-02-01 33 days 1,901 sqft
    2021-03-01 30 days 1,901 sqft
    2021-04-01 25 days 1,862 sqft
    2021-05-01 21 days 1,906 sqft
    2021-06-01 28 days 1,952 sqft
    2021-07-01 29 days 1,868 sqft
    2021-08-01 36 days 1,865 sqft
    2021-09-01 42 days 1,883 sqft
    2021-10-01 39 days 1,888 sqft
    2021-11-01 41 days 1,854 sqft
    2021-12-01 48 days 1,841 sqft
    2022-01-01 58 days 1,830 sqft
    2022-02-01 36 days 1,839 sqft
    2022-03-01 28 days 1,861 sqft
    2022-04-01 29 days 1,845 sqft
    2022-05-01 35 days 1,828 sqft
    2022-06-01 35 days 1,820 sqft
    2022-07-01 37 days 1,747 sqft
    2022-08-01 50 days 1,761 sqft
    2022-09-01 50 days 1,774 sqft
    2022-10-01 52 days 1,736 sqft
    2022-11-01 63 days 1,736 sqft
    2022-12-01 72 days 1,736 sqft
    2023-01-01 81 days 1,736 sqft
    2023-02-01 71 days 1,736 sqft
    2023-03-01 60 days 1,779 sqft
    2023-04-01 43 days 1,799 sqft
    2023-05-01 36 days 1,753 sqft
    2023-06-01 40 days 1,800 sqft
    2023-07-01 43 days 1,824 sqft
    2023-08-01 50 days 1,856 sqft
    2023-09-01 51 days 1,800 sqft
    2023-10-01 57 days 1,775 sqft
    2023-11-01 65 days 1,780 sqft
    2023-12-01 74 days 1,799 sqft
    2024-01-01 71 days 1,790 sqft
    2024-02-01 54 days 1,781 sqft
    2024-03-01 46 days 1,828 sqft
    Redding's median listing age (time on market) for 2024-03-01 was 46 days. This is -24% shorter than the same period one year ago.

    Redding's median square footage for active listings during the 2024-03-01 period was 1,828 sqft. One year prior, the average listing was 1,779 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.