Redding VA Loans

REDDING, CA

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.

Redding's 102 lenders originated 998 VA loans during 2021. The total origination value was $296,630,000, with an average VA loan value of $297,224.

Redding VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Redding averaged 5.53% 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 5.2%.

The average rate one year ago was 3.4%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.39%.

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

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FREEDOM MORTGAGE CORPORATION 88 2.37% $3,435
AMERICAN PACIFIC MORTGAGE CORPORATION 70 2.84% $8,194
QUICKEN LOANS, LLC 59 2.41% $4,302
PENNYMAC LOAN SERVICES, LLC 58 2.35% $6,185
Commerce Home Mortgage, Inc. 43 2.96% $7,429
UNITED WHOLESALE MORTGAGE, LLC 35 2.42% $6,097
Mortgage Research Center, LLC 35 2.82% $5,521
LAKEVIEW LOAN SERVICING, LLC 30 2.47% $2,315
NEWREZ LLC 28 2.84% $5,649
VILLAGE CAPITAL & INVESTMENT LLC 28 2.27% $2,821
CALIBER HOME LOANS, INC. 26 2.49% $5,721
CLEARPATH LENDING 25 2.35% $5,068
CELEBRITY HOME LOANS, LLC 21 2.94% $6,471
LOANDEPOT.COM, LLC 21 2.57% $5,106
NEW DAY FINANCIAL, LLC 21 2.78% $6,149
Paramount Residential Mortgage Group, Inc. 21 2.51% $4,870
GUILD MORTGAGE COMPANY 18 2.81% $6,563
HOME POINT FINANCIAL CORPORATION 18 2.35% $8,133
Mr. Cooper ( Nationstar Mortgage ) 14 2.55% $3,123
AMERICAN FINANCIAL NETWORK, INC. 12 2.66% $6,861
Flagstar Bank, FSB 11 2.92% $7,077
NAVY FEDERAL CREDIT UNION 10 2.54% $2,605
PRIMELENDING, A PLAINSCAPITAL COMPANY 10 3.02% $7,588
SUMMIT FUNDING, INC. 9 2.85% $6,565
MEGASTAR FINANCIAL CORP. 9 2.65% $9,464
USAA Federal Savings Bank 8 2.80% $2,682
SOVEREIGN LENDING GROUP INCORPORATED 8 2.53% $6,240
Wells Fargo Bank 6 2.42% $7,037
Amerifirst Financial, Inc. 6 2.56% $7,522
PLANET HOME LENDING, LLC 6 2.29% $4,559
U.S. Bank 5 2.58% $11,282
MOVEMENT MORTGAGE, LLC 5 3.05% $5,174
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 2.65% $7,433
LENDUS, LLC 5 2.53% $5,297
NP, Inc. 5 2.25% $3,083
LOANPAL, LLC 4 2.75% $10,182
PENTAGON FEDERAL CREDIT UNION 4 2.44% $1,684
OCMBC, INC. 4 2.81% $11,335
INFINITY EQUITY GROUP, INC. 4 2.78% $5,094
ACCELERATE MORTGAGE, LLC 4 2.44% $6,233
Nations Lending Corporation 4 2.69% $11,192
SUN WEST MORTGAGE COMPANY, INC. 4 2.53% $3,278
Low VA Rates, LLC 3 2.46% $2,164
STEARNS LENDING, LLC 3 2.25% $5,184
CROSSCOUNTRY MORTGAGE, LLC 3 2.54% $13,731
The Federal Savings Bank 3 2.71% $9,254
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.67% $5,199
Umpqua Bank 3 2.83% $8,889
Magnolia Bank 3 2.92% $7,187
BROKER SOLUTIONS, INC. 3 2.70% $6,103
Wyndham Capital Mortgage, Inc. 2 2.25% $1,716
AMERICAN FINANCING CORPORATION 2 2.25% $12,672
AMERISAVE MORTGAGE CORPORATION 2 2.69% $6,245
Barrington Bank & Trust Company, N.A. 2 2.81% $9,131
GUARANTEED RATE, INC. 2 2.44% $8,664
InterContinental Capital Group, Inc 2 2.75% $7,058
LEADERONE FINANCIAL CORPORATION 2 2.44% $13,156
MEMBER FIRST MORTGAGE, LLC 2 2.94% $4,898
MID AMERICA MORTGAGE, INC. 2 3.13% $4,203
MUTUAL OF OMAHA MORTGAGE, INC. 2 2.38% $2,346
NATIONS DIRECT MORTGAGE, LLC 2 2.56% $2,452
Sierra Pacific Mortgage Company, Inc. 2 2.69% $4,607
UNION HOME MORTGAGE CORP. 2 2.31% $2,056
AMERICAN ADVISORS GROUP 1 3.25% $11,070
LADERA LENDING, INC. 1 2.75% $2,269
JMJ FINANCIAL GROUP 1 2.75% $2,882
NBKC BANK 1 2.25% $953
NETWORK CAPITAL FUNDING CORPORATION 1 2.25% $2,571
ISERVE RESIDENTIAL LENDING, LLC 1 2.25% $3,471
INTERCAP LENDING INC. 1 2.25% $3,035
North American Savings Bank, F.S.B. 1 2.25% $12,879
HOMESIDE FINANCIAL, LLC 1 2.25% $1,706
Home Mortgage Alliance Corp 1 2.75% $4,753
HARTFORD FUNDING, LTD. 1 2.75% $13,542
GUARANTEED RATE AFFINITY, LLC 1 2.25% $3,272
GSF Mortgage Corporation 1 2.75% $2,521
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.75% $15,030
PLAZA HOME MORTGAGE, INC. 1 2.25% $1,503
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.38% $6,875
Prime Choice Funding Inc. 1 2.50% $6,855
GENEVA FINANCIAL, LLC 1 3.00% $6,165
First Federal Bank of Kansas City 1 2.75% $600
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.25% $6,351
SCENIC OAKS FUNDING, INC. 1 2.63% $6,881
Willamette Valley Bank 1 2.50% $14,399
First Federal Bank 1 3.13% $17,107
FINANCE OF AMERICA MORTGAGE LLC 1 2.38% $961
Stifel Bank and Trust 1 2.50% $3,994
CMG MORTGAGE, INC. 1 2.25% $1,088
CHURCHILL MORTGAGE CORPORATION 1 2.63% $17,360
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.25% $6,927
TJC Mortgage, Inc. 1 2.25% $2,475
BNC National Bank 1 2.25% $3,084
ALAMEDA MORTGAGE CORPORATION 1 2.25% $6,113
BECKAM FUNDING CORP. 1 2.63% $2,388
AXIA FINANCIAL, LLC 1 2.50% $1,233
AmeriHome Mortgage Company, LLC 1 3.13% $853
AMERICAN FINANCIAL RESOURCES, INC. 1 2.50% $5,683
MEGA CAPITAL FUNDING, INC. 1 2.50% $1,381
LHM FINANCIAL CORPORATION 1 2.25% $5,634
MUFG Union Bank 1 2.25% $578
Watermark Capital, Inc. 1 2.25% $8,956

The top Redding VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 88 VA loans originated. Their average total fees are $3,435, which is $4,759 lower than the next largest lender, AMERICAN PACIFIC MORTGAGE CORPORATION.

The lowest fee Redding VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,315), NAVY FEDERAL CREDIT UNION ($2,605), VILLAGE CAPITAL & INVESTMENT LLC ($2,821), Mr. Cooper ( Nationstar Mortgage ) ($3,123) and FREEDOM MORTGAGE CORPORATION ($3,435).

The lowest rate Redding VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.27%), CLEARPATH LENDING (2.35%), PENNYMAC LOAN SERVICES, LLC (2.35%), HOME POINT FINANCIAL CORPORATION (2.35%) and FREEDOM MORTGAGE CORPORATION (2.37%).


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 $324,200 (8.3%) $414,792 (-0.2%) 1.19 607
2018-02-01 $329,500 (8.1%) $419,111 (-0.6%) 1.19 632
2018-03-01 $329,500 (1.1%) $426,296 (0.9%) 1.14 680
2018-04-01 $329,000 (-1.8%) $415,445 (-3.9%) 1.10 737
2018-05-01 $331,000 (3.5%) $425,178 (5.1%) 1.10 815
2018-06-01 $328,800 (3.1%) $421,916 (6.7%) 1.10 862
2018-07-01 $319,900 (0.6%) $402,262 (1.1%) 1.07 890
2018-08-01 $321,950 (2.4%) $403,845 (1.7%) 1.08 787
2018-09-01 $325,000 (1.9%) $407,154 (2.0%) 1.09 788
2018-10-01 $327,000 (1.5%) $408,964 (1.8%) 1.09 792
2018-11-01 $332,450 (3.5%) $424,820 (5.0%) 1.11 752
2018-12-01 $329,900 (3.1%) $427,217 (3.5%) 1.13 718
2019-01-01 $334,500 (3.2%) $435,373 (5.0%) 1.15 670
2019-02-01 $326,950 (-0.8%) $444,591 (6.1%) 1.10 663
2019-03-01 $326,871 (-0.8%) $447,827 (5.1%) 1.07 646
2019-04-01 $329,700 (0.2%) $454,751 (9.5%) 1.04 628
2019-05-01 $342,450 (3.5%) $447,827 (5.3%) 1.06 715
2019-06-01 $340,000 (3.4%) $437,125 (3.6%) 1.05 803
2019-07-01 $339,450 (6.1%) $434,610 (8.0%) 1.05 795
2019-08-01 $339,000 (5.3%) $435,057 (7.7%) 1.07 776
2019-09-01 $338,500 (4.2%) $437,096 (7.4%) 1.07 770
2019-10-01 $335,900 (2.7%) $436,754 (6.8%) 1.07 772
2019-11-01 $342,800 (3.1%) $447,102 (5.2%) 1.11 713
2019-12-01 $342,000 (3.7%) $457,078 (7.0%) 1.14 624
2020-01-01 $347,950 (4.0%) $465,805 (7.0%) 1.16 569
2020-02-01 $344,900 (5.5%) $464,577 (4.5%) 1.11 551
2020-03-01 $359,500 (10.0%) $466,042 (4.1%) 1.12 566
2020-04-01 $365,000 (10.7%) $464,689 (2.2%) 1.14 607
2020-05-01 $380,000 (11.0%) $472,832 (5.6%) 1.15 588
2020-06-01 $399,900 (17.6%) $488,898 (11.8%) 1.17 550
2020-07-01 $405,700 (19.5%) $512,159 (17.8%) 1.16 469
2020-08-01 $399,900 (18.0%) $543,539 (24.9%) 1.14 414
2020-09-01 $399,450 (18.0%) $573,666 (31.2%) 1.14 406
2020-10-01 $399,900 (19.1%) $566,916 (29.8%) 1.14 456
2020-11-01 $412,950 (20.5%) $571,205 (27.8%) 1.18 449
2020-12-01 $429,950 (25.7%) $599,988 (31.3%) 1.26 387
2021-01-01 $433,000 (24.4%) $621,976 (33.5%) 1.27 325
2021-02-01 $432,900 (25.5%) $626,867 (34.9%) 1.24 301
2021-03-01 $433,000 (20.5%) $620,501 (33.1%) 1.21 298
2021-04-01 $437,000 (19.7%) $650,060 (39.9%) 1.17 274
2021-05-01 $449,900 (18.4%) $713,583 (50.9%) 1.18 310
2021-06-01 $456,000 (14.0%) $686,113 (40.3%) 1.18 351
2021-07-01 $433,900 (7.0%) $621,382 (21.3%) 1.13 398
2021-08-01 $437,000 (9.3%) $615,413 (13.2%) 1.15 438
2021-09-01 $438,000 (9.7%) $616,596 (7.5%) 1.15 448
2021-10-01 $439,900 (10.0%) $586,101 (3.4%) 1.16 455
2021-11-01 $436,950 (5.8%) $581,198 (1.8%) 1.15 441
2021-12-01 $434,450 (1.1%) $586,273 (-2.3%) 1.16 386
2022-01-01 $445,000 (2.8%) $606,564 (-2.5%) 1.19 304
2022-02-01 $472,000 (9.0%) $589,831 (-5.9%) 1.20 303
2022-03-01 $494,950 (14.3%) $597,521 (-3.7%) 1.22 338
2022-04-01 $479,000 (9.6%) $620,834 (-4.5%) 1.13 389
Redding's median listing price for 2022-04-01 was $479,000, a difference of $42,000 (9.6%) versus the prior year and $-15,950 versus the prior month.

Redding's median listing price comes in at 113% of the national average.

Redding's average listing price for 2022-04-01 was $620,834, a difference of $-29,226 (-4.5%) versus the prior year and $23,313 versus the prior month.

For the 2022-04-01 period, Redding had 389 MLS listings, a difference of 51 listings (15%) versus the prior month and 115 listings (42%) 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 84 days 1,790 sqft
2018-02-01 68 days 1,786 sqft
2018-03-01 54 days 1,808 sqft
2018-04-01 54 days 1,800 sqft
2018-05-01 48 days 1,815 sqft
2018-06-01 52 days 1,800 sqft
2018-07-01 61 days 1,766 sqft
2018-08-01 64 days 1,751 sqft
2018-09-01 65 days 1,780 sqft
2018-10-01 66 days 1,817 sqft
2018-11-01 68 days 1,843 sqft
2018-12-01 74 days 1,826 sqft
2019-01-01 81 days 1,832 sqft
2019-02-01 79 days 1,826 sqft
2019-03-01 70 days 1,818 sqft
2019-04-01 50 days 1,820 sqft
2019-05-01 41 days 1,847 sqft
2019-06-01 49 days 1,805 sqft
2019-07-01 58 days 1,802 sqft
2019-08-01 67 days 1,820 sqft
2019-09-01 64 days 1,842 sqft
2019-10-01 65 days 1,843 sqft
2019-11-01 70 days 1,849 sqft
2019-12-01 83 days 1,844 sqft
2020-01-01 85 days 1,842 sqft
2020-02-01 64 days 1,823 sqft
2020-03-01 47 days 1,891 sqft
2020-04-01 51 days 1,899 sqft
2020-05-01 53 days 1,914 sqft
2020-06-01 54 days 1,967 sqft
2020-07-01 65 days 1,971 sqft
2020-08-01 60 days 1,908 sqft
2020-09-01 44 days 1,900 sqft
2020-10-01 42 days 1,904 sqft
2020-11-01 47 days 1,908 sqft
2020-12-01 62 days 1,929 sqft
2021-01-01 77 days 1,950 sqft
2021-02-01 45 days 1,900 sqft
2021-03-01 36 days 1,944 sqft
2021-04-01 29 days 1,898 sqft
2021-05-01 23 days 1,961 sqft
2021-06-01 30 days 1,991 sqft
2021-07-01 30 days 1,894 sqft
2021-08-01 38 days 1,893 sqft
2021-09-01 46 days 1,901 sqft
2021-10-01 45 days 1,904 sqft
2021-11-01 46 days 1,860 sqft
2021-12-01 51 days 1,858 sqft
2022-01-01 65 days 1,848 sqft
2022-02-01 54 days 1,838 sqft
2022-03-01 31 days 1,887 sqft
2022-04-01 29 days 1,863 sqft
Redding's median listing age (time on market) for 2022-04-01 was 29 days. This is 0% longer than the same period one year ago.

Redding's median square footage for active listings during the 2022-04-01 period was 1,863 sqft. One year prior, the average listing was 1,898 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.