San Luis Obispo VA Loan Rates, Closing Costs & Stats

SAN LUIS OBISPO-PASO ROBLES, 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.

    San Luis Obispo's 36 lenders originated 171 VA loans during 2024. The total origination value was $128,145,000, with an average VA loan value of $749,386.

    San Luis Obispo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in San Luis Obispo averaged 0.35% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    San Luis Obispo's average VA mortgage closing costs are $8,677.

    The average rate for the prior week (2025-06-13) was 7.1% and one month ago for the week of 2025-05-16, the average rate was 6.96%.

    The average rate one year ago was 7.16%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.06%.

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

    San Luis Obispo 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 San Luis Obispo level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 29 5.85% $12,526
    GUARANTEED RATE, INC. 26 6.11% $7,647
    QUICKEN LOANS, LLC 11 5.85% $15,113
    Mortgage Research Center, LLC 11 6.13% $7,155
    KD CAPITAL MORTGAGE CORPORATION 10 5.94% $14,170
    PENNYMAC LOAN SERVICES, LLC 8 5.73% $9,607
    COASTAL FUNDING SLC, INC. 8 6.33% $13,883
    NAVY FEDERAL CREDIT UNION 6 5.81% $4,399
    FREEDOM MORTGAGE CORPORATION 6 5.79% $6,034
    Century Mortgage Company DBA Century Lending Company 4 6.44% $7,145
    CROSSCOUNTRY MORTGAGE, LLC 4 6.03% $6,817
    NORWICH COMMERCIAL GROUP, INC. 3 5.96% $13,080
    LOANDEPOT.COM, LLC 3 5.29% $17,142
    MOVEMENT MORTGAGE, LLC 2 6.00% $52,871
    NBKC BANK 2 5.94% $6,710
    DIGNIFIED HOME LOANS, LLC 2 6.31% $10,074
    Equity Prime Mortgage LLC 2 6.19% $13,255
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.00% $15,219
    The Loan Store, Inc. 2 6.19% $3,835
    CENTRAL COAST LENDING, INC. 2 6.50% $6,451
    Golden Empire Mortgage, Inc. 2 6.25% $13,609
    CARDINAL FINANCIAL 2 6.37% $7,501
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.50% $3,835
    LADERA LENDING, INC. 1 7.13% $5,117
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.63% $24,330
    AUGUSTA FINANCIAL, INC. 1 6.25% $26,180
    CLEARPATH LENDING 1 5.75% $26,672
    First Federal Bank, A FSB 1 5.63% $6,695
    Flagstar Bank, FSB 1 7.75% $0
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.75% $27,000
    NATIONS DIRECT MORTGAGE, LLC 1 6.99% $11,737
    NEW DAY FINANCIAL, LLC 1 7.38% $35,627
    Paramount Residential Mortgage Group, Inc. 1 5.63% $2,690
    PHH Mortgage Corporation 1 5.88% $2,660
    Sierra Pacific Mortgage Company, Inc. 1 5.63% $17,136
    TOP FLITE FINANCIAL, INC. 1 6.25% $14,946

    The top San Luis Obispo VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 29 VA loans originated. Their average total fees are $12,526, which is $4,879 higher than the next largest lender, GUARANTEED RATE, INC..

    The lowest fee San Luis Obispo VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,155), GUARANTEED RATE, INC. ($7,647), UNITED WHOLESALE MORTGAGE, LLC ($12,526), KD CAPITAL MORTGAGE CORPORATION ($14,170) and QUICKEN LOANS, LLC ($15,113).

    The lowest rate San Luis Obispo VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.85%), UNITED WHOLESALE MORTGAGE, LLC (5.85%), KD CAPITAL MORTGAGE CORPORATION (5.94%), GUARANTEED RATE, INC. (6.11%) and Mortgage Research Center, LLC (6.13%).

    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.