Redding VA Loan Rates, Closing Costs & Stats

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 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 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 6.58% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

Redding's average VA mortgage closing costs are $5,553.

The average rate for the prior week (2022-11-25) was 6.62% and one month ago for the week of 2022-10-28, the average rate was 7.21%.

The average rate one year ago was 3.48%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.34%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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 MORTGAGE 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 MORTGAGE ($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 MORTGAGE (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 $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%) 1.06 873
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%) 1.10 777
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%) $431,552 (5.6%) 1.06 651
2019-04-01 $327,350 (-0.6%) $435,892 (8.1%) 1.04 643
2019-05-01 $339,950 (2.0%) $435,488 (5.1%) 1.06 728
2019-06-01 $339,950 (3.5%) $433,803 (6.8%) 1.06 805
2019-07-01 $333,700 (4.6%) $422,443 (10.2%) 1.04 795
2019-08-01 $331,818 (6.2%) $423,882 (10.3%) 1.05 782
2019-09-01 $330,795 (1.8%) $426,651 (7.8%) 1.06 782
2019-10-01 $333,064 (1.9%) $428,497 (6.7%) 1.07 775
2019-11-01 $339,000 (2.0%) $439,958 (5.6%) 1.11 710
2019-12-01 $336,950 (2.1%) $445,282 (5.5%) 1.12 616
2020-01-01 $347,850 (3.9%) $456,983 (6.0%) 1.16 560
2020-02-01 $342,450 (4.7%) $458,468 (6.4%) 1.12 543
2020-03-01 $357,950 (10.2%) $465,690 (7.9%) 1.12 560
2020-04-01 $365,375 (11.6%) $466,540 (7.0%) 1.14 599
2020-05-01 $385,000 (13.3%) $470,029 (7.9%) 1.17 594
2020-06-01 $397,000 (16.8%) $486,139 (12.1%) 1.17 558
2020-07-01 $399,950 (19.9%) $510,143 (20.8%) 1.16 469
2020-08-01 $399,000 (20.3%) $557,782 (31.6%) 1.14 416
2020-09-01 $398,000 (20.3%) $586,528 (37.5%) 1.14 417
2020-10-01 $398,750 (19.7%) $564,992 (31.9%) 1.14 459
2020-11-01 $399,000 (17.7%) $577,863 (31.3%) 1.17 454
2020-12-01 $414,225 (22.9%) $593,938 (33.4%) 1.23 390
2021-01-01 $429,000 (23.3%) $619,754 (35.6%) 1.28 319
2021-02-01 $431,000 (25.9%) $636,852 (38.9%) 1.25 296
2021-03-01 $427,750 (19.5%) $625,232 (34.3%) 1.21 304
2021-04-01 $427,700 (17.1%) $656,085 (40.6%) 1.16 281
2021-05-01 $449,900 (16.9%) $714,561 (52.0%) 1.19 311
2021-06-01 $456,225 (14.9%) $700,284 (44.1%) 1.20 348
2021-07-01 $425,000 (6.3%) $651,471 (27.7%) 1.12 396
2021-08-01 $430,650 (7.9%) $634,018 (13.7%) 1.15 428
2021-09-01 $439,450 (10.4%) $639,235 (9.0%) 1.17 439
2021-10-01 $442,750 (11.0%) $606,159 (7.3%) 1.18 444
2021-11-01 $437,500 (9.7%) $602,691 (4.3%) 1.17 435
2021-12-01 $436,500 (5.4%) $597,761 (0.6%) 1.18 380
2022-01-01 $459,900 (7.2%) $618,046 (-0.3%) 1.24 314
2022-02-01 $475,725 (10.4%) $641,660 (0.8%) 1.24 311
2022-03-01 $487,500 (14.0%) $673,156 (7.7%) 1.22 343
2022-04-01 $474,700 (11.0%) $683,362 (4.2%) 1.13 380
2022-05-01 $469,125 (4.3%) $645,348 (-9.7%) 1.07 417
2022-06-01 $471,750 (3.4%) $628,655 (-10.2%) 1.05 455
2022-07-01 $430,000 (1.2%) $592,476 (-9.1%) 0.97 528
2022-08-01 $439,000 (1.9%) $605,141 (-4.6%) 1.01 537
2022-09-01 $438,225 (-0.3%) $610,443 (-4.5%) 1.03 543
2022-10-01 $424,900 (-4.0%) $587,545 (-3.1%) 1.00 542
2022-11-01 $413,200 (-5.6%) $585,495 (-2.9%) 0.99 516
Redding's median listing price for 2022-11-01 was $413,200, a difference of $-24,300 (-5.6%) versus the prior year and $-11,700 versus the prior month.

Redding's median listing price comes in at 99% of the national average.

Redding's average listing price for 2022-11-01 was $585,495, a difference of $-17,196 (-2.9%) versus the prior year and $-2,050 versus the prior month.

For the 2022-11-01 period, Redding had 516 MLS listings, a difference of -26 listings (-5%) versus the prior month and 81 listings (19%) 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 85 days 1,802 sqft
2018-02-01 68 days 1,803 sqft
2018-03-01 55 days 1,828 sqft
2018-04-01 56 days 1,814 sqft
2018-05-01 49 days 1,834 sqft
2018-06-01 52 days 1,822 sqft
2018-07-01 61 days 1,777 sqft
2018-08-01 65 days 1,756 sqft
2018-09-01 64 days 1,792 sqft
2018-10-01 65 days 1,811 sqft
2018-11-01 66 days 1,831 sqft
2018-12-01 74 days 1,828 sqft
2019-01-01 81 days 1,838 sqft
2019-02-01 77 days 1,843 sqft
2019-03-01 67 days 1,828 sqft
2019-04-01 48 days 1,820 sqft
2019-05-01 42 days 1,848 sqft
2019-06-01 47 days 1,812 sqft
2019-07-01 58 days 1,783 sqft
2019-08-01 62 days 1,794 sqft
2019-09-01 62 days 1,808 sqft
2019-10-01 65 days 1,830 sqft
2019-11-01 69 days 1,840 sqft
2019-12-01 84 days 1,819 sqft
2020-01-01 87 days 1,832 sqft
2020-02-01 64 days 1,822 sqft
2020-03-01 48 days 1,883 sqft
2020-04-01 51 days 1,898 sqft
2020-05-01 52 days 1,931 sqft
2020-06-01 53 days 1,980 sqft
2020-07-01 64 days 1,978 sqft
2020-08-01 57 days 1,908 sqft
2020-09-01 40 days 1,904 sqft
2020-10-01 42 days 1,898 sqft
2020-11-01 47 days 1,894 sqft
2020-12-01 63 days 1,908 sqft
2021-01-01 73 days 1,927 sqft
2021-02-01 42 days 1,901 sqft
2021-03-01 32 days 1,901 sqft
2021-04-01 29 days 1,862 sqft
2021-05-01 22 days 1,919 sqft
2021-06-01 30 days 1,956 sqft
2021-07-01 29 days 1,868 sqft
2021-08-01 38 days 1,865 sqft
2021-09-01 43 days 1,882 sqft
2021-10-01 43 days 1,881 sqft
2021-11-01 42 days 1,851 sqft
2021-12-01 50 days 1,840 sqft
2022-01-01 62 days 1,830 sqft
2022-02-01 42 days 1,838 sqft
2022-03-01 30 days 1,852 sqft
2022-04-01 30 days 1,837 sqft
2022-05-01 36 days 1,817 sqft
2022-06-01 36 days 1,818 sqft
2022-07-01 39 days 1,749 sqft
2022-08-01 51 days 1,762 sqft
2022-09-01 51 days 1,774 sqft
2022-10-01 53 days 1,736 sqft
2022-11-01 63 days 1,736 sqft
Redding's median listing age (time on market) for 2022-11-01 was 63 days. This is 51% longer than the same period one year ago.

Redding's median square footage for active listings during the 2022-11-01 period was 1,736 sqft. One year prior, the average listing was 1,851 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.