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 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 6.58% for the week of 2024-05-24, compared to the national average (all VA variants) of 6.567% for the same period.

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

The average rate for the prior week (2024-05-17) was 6.51% and one month ago for the week of 2024-04-19, the average rate was 6.98%.

The average rate one year ago was 6.35%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.83%.

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
2024-04-01 $441,000 (-0.9%) $666,956 (7.2%) 1.03 383
Redding's median listing price for 2024-04-01 was $441,000, a difference of $-4,000 (-0.9%) versus the prior year and $-8,000 versus the prior month.

Redding's median listing price comes in at 103% of the national average.

Redding's average listing price for 2024-04-01 was $666,956, a difference of $44,590 (7.2%) versus the prior year and $-27,633 versus the prior month.

For the 2024-04-01 period, Redding had 383 MLS listings, a difference of 39 listings (11%) versus the prior month and 33 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 1,801 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
2024-04-01 32 days 1,802 sqft
Redding's median listing age (time on market) for 2024-04-01 was 32 days. This is -26% shorter than the same period one year ago.

Redding's median square footage for active listings during the 2024-04-01 period was 1,802 sqft. One year prior, the average listing was 1,799 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.