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 71 lenders originated 369 VA loans during 2022. The total origination value was $129,215,000, with an average VA loan value of $350,176.

    Redding VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Redding averaged -0.25% for the week of 2023-11-24, compared to the national average (all VA variants) of 0% for the same period.

    Redding's average VA mortgage closing costs are $5,982.

    The average rate for the prior week (2023-11-17) was 6.69% and one month ago for the week of 2023-10-20, the average rate was 7.02%.

    The average rate one year ago was 6.04%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.19%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 36 4.87% $6,356
    AMERICAN PACIFIC MORTGAGE CORPORATION 32 4.59% $11,568
    Commerce Home Mortgage, Inc. 24 4.08% $12,595
    UNITED WHOLESALE MORTGAGE, LLC 20 4.13% $9,067
    FREEDOM MORTGAGE CORPORATION 17 3.44% $9,487
    QUICKEN LOANS, LLC 17 3.96% $8,600
    PENNYMAC LOAN SERVICES, LLC 11 3.27% $8,903
    SUMMIT FUNDING, INC. 10 4.70% $7,195
    NEW DAY FINANCIAL, LLC 10 4.49% $14,669
    USAA Federal Savings Bank 10 4.60% $6,591
    INFINITY EQUITY GROUP, INC. 10 5.22% $13,181
    HOME POINT FINANCIAL CORPORATION 9 4.07% $11,347
    The Federal Savings Bank 8 4.75% $13,921
    NAVY FEDERAL CREDIT UNION 7 3.68% $5,610
    Flagstar Bank, FSB 6 4.06% $8,101
    NEWREZ LLC 6 3.58% $5,829
    BROKER SOLUTIONS, INC. 5 4.65% $10,943
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 5.35% $12,865
    Amerifirst Financial, Inc. 5 4.48% $10,769
    LOANDEPOT.COM, LLC 5 3.82% $15,012
    CLEARPATH LENDING 4 3.22% $12,966
    GUILD MORTGAGE COMPANY 4 4.97% $16,078
    Mr. Cooper ( Nationstar Mortgage ) 4 3.63% $12,464
    MEGASTAR FINANCIAL CORP. 4 4.09% $12,026
    CALIBER HOME LOANS, INC. 4 4.41% $7,223
    Barrington Bank & Trust Company, N.A. 4 4.01% $5,897
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 4.33% $18,693
    Paramount Residential Mortgage Group, Inc. 3 3.91% $6,867
    LAKEVIEW LOAN SERVICING, LLC 2 3.00% $1,831
    NETWORK CAPITAL FUNDING CORPORATION 2 3.44% $5,824
    LOANPAL, LLC 2 4.25% $22,486
    CROSSCOUNTRY MORTGAGE, LLC 2 4.44% $4,679
    Magnolia Bank 2 4.50% $12,521
    AMERISAVE MORTGAGE CORPORATION 2 3.13% $12,163
    CARDINAL FINANCIAL 2 6.00% $12,198
    Carrington Mortgage Services, LLC 2 4.75% $9,128
    MOVEMENT MORTGAGE, LLC 2 5.88% $8,181
    VILLAGE CAPITAL MORTGAGE 2 4.63% $9,781
    MUTUAL OF OMAHA MORTGAGE, INC. 2 3.75% $4,484
    Wells Fargo Bank 2 4.19% $5,415
    Century Mortgage Company DBA Century Lending Company 2 3.63% $7,459
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 4.69% $8,750
    S1L, Inc. 2 3.63% $8,623
    AXIA FINANCIAL, LLC 2 5.63% $13,523
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.25% $12,782
    BELEM SERVICING LLC 1 3.50% $9,706
    Cornerstone First Mortgage, Inc 1 5.25% $14,163
    DATA MORTGAGE, INC. 1 3.25% $6,101
    DHI MORTGAGE COMPANY, LTD. 1 4.50% $6,485
    DIGNIFIED HOME LOANS, LLC 1 5.25% $9,073
    EMM LOANS LLC 1 3.50% $12,926
    Equity Prime Mortgage LLC 1 5.38% $9,432
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 5.50% $4,301
    FBC MORTGAGE, LLC 1 3.99% $24,367
    FINANCE OF AMERICA MORTGAGE LLC 1 4.99% $13,016
    FRONTWAVE 1 3.50% $1,699
    Golden Empire Mortgage, Inc. 1 6.25% $8,791
    LADERA LENDING, INC. 1 3.75% $3,821
    Lakeview Community Capital, LLC 1 2.88% $2,803
    Low VA Rates, LLC 1 5.50% $2,087
    MASON MCDUFFIE MORTGAGE CORPORATION 1 5.13% $4,714
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.13% $5,553
    MUFG Union Bank 1 5.63% $11,879
    NBKC BANK 1 2.75% $10,447
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.13% $900
    Sierra Pacific Mortgage Company, Inc. 1 4.50% $8,309
    SOVEREIGN LENDING GROUP INCORPORATED 1 3.75% $3,665
    Texana Bank 1 2.75% $14,708
    TJC Mortgage, Inc. 1 3.75% $11,730
    Umpqua Bank 1 4.63% $6,253
    Watermark Capital, Inc. 1 3.25% $8,058

    The top Redding VA lender as defined by loan originations is Mortgage Research Center, LLC, with 36 VA loans originated. Their average total fees are $6,356, which is $5,212 lower than the next largest lender, AMERICAN PACIFIC MORTGAGE CORPORATION.

    The lowest fee Redding VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,356), USAA Federal Savings Bank ($6,591), SUMMIT FUNDING, INC. ($7,195), QUICKEN LOANS, LLC ($8,600) and PENNYMAC LOAN SERVICES, LLC ($8,903).

    The lowest rate Redding VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.27%), FREEDOM MORTGAGE CORPORATION (3.44%), QUICKEN LOANS, LLC (3.96%), Commerce Home Mortgage, Inc. (4.08%) and UNITED WHOLESALE MORTGAGE, LLC (4.13%).

    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 $323,038 (8.2%) $405,505 (3.1%) 1.20 604
    2018-02-01 $329,800 (9.5%) $403,334 (0.9%) 1.20 628
    2018-03-01 $329,950 (2.6%) $408,723 (0.1%) 1.16 674
    2018-04-01 $329,250 (-1.7%) $403,089 (-4.5%) 1.12 727
    2018-05-01 $333,250 (4.2%) $414,391 (5.0%) 1.11 791
    2018-06-01 $328,400 (3.0%) $406,113 (4.1%) 1.10 846
    2018-07-01 $318,900 (1.4%) $383,518 (-0.3%) 1.07 873
    2018-08-01 $312,450 (0.2%) $384,275 (-0.4%) 1.05 766
    2018-09-01 $324,900 (1.9%) $395,820 (0.4%) 1.09 766
    2018-10-01 $327,000 (2.3%) $401,544 (2.7%) 1.11 777
    2018-11-01 $332,450 (4.6%) $416,840 (5.4%) 1.13 742
    2018-12-01 $329,900 (3.4%) $421,940 (4.9%) 1.14 713
    2019-01-01 $334,825 (3.7%) $431,118 (6.3%) 1.16 662
    2019-02-01 $327,000 (-0.9%) $430,949 (6.9%) 1.10 659
    2019-03-01 $324,943 (-1.5%) $431,558 (5.6%) 1.06 651
    2019-04-01 $327,450 (-0.6%) $435,904 (8.1%) 1.04 643
    2019-05-01 $339,950 (2.0%) $435,538 (5.1%) 1.06 727
    2019-06-01 $339,900 (3.5%) $433,847 (6.8%) 1.06 804
    2019-07-01 $333,575 (4.6%) $422,474 (10.2%) 1.04 794
    2019-08-01 $331,636 (6.1%) $423,916 (10.3%) 1.05 781
    2019-09-01 $330,716 (1.8%) $426,688 (7.8%) 1.06 781
    2019-10-01 $332,852 (1.8%) $428,537 (6.7%) 1.07 774
    2019-11-01 $339,000 (2.0%) $440,015 (5.6%) 1.11 709
    2019-12-01 $336,950 (2.1%) $445,357 (5.6%) 1.12 615
    2020-01-01 $347,125 (3.7%) $457,085 (6.0%) 1.16 559
    2020-02-01 $340,000 (4.0%) $458,574 (6.4%) 1.11 542
    2020-03-01 $357,000 (9.9%) $465,845 (7.9%) 1.12 558
    2020-04-01 $362,900 (10.8%) $466,691 (7.1%) 1.14 597
    2020-05-01 $379,900 (11.8%) $470,186 (8.0%) 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 (31.7%) 1.14 415
    2020-09-01 $398,450 (20.5%) $586,929 (37.6%) 1.14 416
    2020-10-01 $399,000 (19.9%) $565,312 (31.9%) 1.14 458
    2020-11-01 $399,000 (17.7%) $578,218 (31.4%) 1.17 453
    2020-12-01 $414,500 (23.0%) $594,374 (33.5%) 1.23 389
    2021-01-01 $429,000 (23.6%) $620,342 (35.7%) 1.28 318
    2021-02-01 $431,250 (26.8%) $637,526 (39.0%) 1.26 295
    2021-03-01 $429,000 (20.2%) $625,876 (34.4%) 1.22 303
    2021-04-01 $428,400 (18.1%) $656,852 (40.8%) 1.16 280
    2021-05-01 $449,900 (18.4%) $715,410 (52.2%) 1.20 310
    2021-06-01 $456,700 (15.8%) $701,033 (44.1%) 1.20 347
    2021-07-01 $425,000 (6.1%) $652,031 (27.7%) 1.12 395
    2021-08-01 $432,000 (8.3%) $634,507 (13.7%) 1.15 427
    2021-09-01 $439,575 (10.3%) $639,721 (9.0%) 1.17 438
    2021-10-01 $443,000 (11.0%) $606,560 (7.3%) 1.18 443
    2021-11-01 $437,500 (9.7%) $603,104 (4.3%) 1.17 434
    2021-12-01 $437,000 (5.4%) $598,220 (0.7%) 1.18 379
    2022-01-01 $459,900 (7.2%) $618,667 (-0.3%) 1.24 313
    2022-02-01 $477,450 (10.7%) $642,316 (0.8%) 1.24 310
    2022-03-01 $488,500 (13.9%) $673,853 (7.7%) 1.22 342
    2022-04-01 $474,900 (10.9%) $683,993 (4.1%) 1.13 379
    2022-05-01 $470,500 (4.6%) $645,880 (-9.7%) 1.08 416
    2022-06-01 $472,000 (3.4%) $629,115 (-10.3%) 1.05 454
    2022-07-01 $430,000 (1.2%) $592,809 (-9.1%) 0.97 527
    2022-08-01 $439,000 (1.6%) $605,493 (-4.6%) 1.01 536
    2022-09-01 $439,125 (-0.1%) $610,794 (-4.5%) 1.03 542
    2022-10-01 $424,950 (-4.1%) $587,381 (-3.2%) 1.00 541
    2022-11-01 $415,475 (-5.0%) $586,631 (-2.7%) 1.00 515
    2022-12-01 $419,000 (-4.1%) $595,098 (-0.5%) 1.03 436
    2023-01-01 $409,450 (-11.0%) $592,543 (-4.2%) 1.02 396
    2023-02-01 $425,000 (-11.0%) $605,530 (-5.7%) 1.03 369
    2023-03-01 $439,950 (-9.9%) $615,715 (-8.6%) 1.04 352
    2023-04-01 $445,000 (-6.3%) $622,366 (-9.0%) 1.03 350
    2023-05-01 $446,745 (-5.1%) $601,726 (-6.8%) 1.01 402
    2023-06-01 $452,500 (-4.1%) $653,495 (3.9%) 1.02 437
    2023-07-01 $455,000 (5.8%) $623,558 (5.2%) 1.03 486
    2023-08-01 $459,400 (4.7%) $650,750 (7.5%) 1.06 513
    2023-09-01 $447,395 (1.9%) $643,092 (5.3%) 1.04 511
    2023-10-01 $432,500 (1.8%) $632,589 (7.7%) 1.02 494
    Redding's median listing price for 2023-10-01 was $432,500, a difference of $7,550 (1.8%) versus the prior year and $-14,895 versus the prior month.

    Redding's median listing price comes in at 102% of the national average.

    Redding's average listing price for 2023-10-01 was $632,589, a difference of $45,208 (7.7%) versus the prior year and $-10,503 versus the prior month.

    For the 2023-10-01 period, Redding had 494 MLS listings, a difference of -17 listings (-3%) versus the prior month and -47 listings (-9%) 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 1,802 sqft
    2018-02-01 63 days 1,803 sqft
    2018-03-01 52 days 1,828 sqft
    2018-04-01 53 days 1,814 sqft
    2018-05-01 47 days 1,834 sqft
    2018-06-01 51 days 1,822 sqft
    2018-07-01 58 days 1,777 sqft
    2018-08-01 61 days 1,756 sqft
    2018-09-01 59 days 1,792 sqft
    2018-10-01 61 days 1,811 sqft
    2018-11-01 62 days 1,831 sqft
    2018-12-01 72 days 1,828 sqft
    2019-01-01 76 days 1,838 sqft
    2019-02-01 72 days 1,843 sqft
    2019-03-01 61 days 1,828 sqft
    2019-04-01 44 days 1,819 sqft
    2019-05-01 39 days 1,844 sqft
    2019-06-01 45 days 1,811 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 80 days 1,815 sqft
    2020-01-01 84 days 1,831 sqft
    2020-02-01 61 days 1,819 sqft
    2020-03-01 46 days 1,881 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 1,903 sqft
    2020-10-01 40 days 1,898 sqft
    2020-11-01 46 days 1,892 sqft
    2020-12-01 61 days 1,908 sqft
    2021-01-01 71 days 1,919 sqft
    2021-02-01 33 days 1,899 sqft
    2021-03-01 30 days 1,899 sqft
    2021-04-01 25 days 1,852 sqft
    2021-05-01 21 days 1,903 sqft
    2021-06-01 29 days 1,943 sqft
    2021-07-01 29 days 1,865 sqft
    2021-08-01 36 days 1,864 sqft
    2021-09-01 42 days 1,878 sqft
    2021-10-01 39 days 1,879 sqft
    2021-11-01 41 days 1,850 sqft
    2021-12-01 49 days 1,837 sqft
    2022-01-01 59 days 1,830 sqft
    2022-02-01 37 days 1,834 sqft
    2022-03-01 29 days 1,848 sqft
    2022-04-01 29 days 1,836 sqft
    2022-05-01 36 days 1,816 sqft
    2022-06-01 35 days 1,815 sqft
    2022-07-01 37 days 1,745 sqft
    2022-08-01 50 days 1,761 sqft
    2022-09-01 50 days 1,770 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 1,750 sqft
    2023-06-01 40 days 1,800 sqft
    2023-07-01 43 days 1,814 sqft
    2023-08-01 51 days 1,851 sqft
    2023-09-01 52 days 1,800 sqft
    2023-10-01 57 days 1,772 sqft
    Redding's median listing age (time on market) for 2023-10-01 was 57 days. This is 10% longer than the same period one year ago.

    Redding's median square footage for active listings during the 2023-10-01 period was 1,772 sqft. One year prior, the average listing was 1,736 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.