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 7.07% for the week of 2025-05-23, compared to the national average (all VA variants) of 6.52% for the same period.

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

    The average rate for the prior week (2025-05-16) was 6.86% and one month ago for the week of 2025-04-18, the average rate was 7.03%.

    The average rate one year ago was 7.25%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.78%.

    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%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - San Luis Obispo (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 $748,750 (7.9%) $1,048,991 (3.7%) 2.78 775
    2018-02-01 $744,950 (6.5%) $1,006,055 (-2.7%) 2.70 810
    2018-03-01 $737,500 (2.7%) $998,946 (-4.7%) 2.59 865
    2018-04-01 $749,900 (4.9%) $1,022,003 (-1.5%) 2.54 929
    2018-05-01 $775,000 (4.0%) $1,057,840 (0.1%) 2.59 963
    2018-06-01 $765,000 (2.1%) $1,052,570 (1.4%) 2.55 1,033
    2018-07-01 $749,500 (0.3%) $1,025,471 (1.0%) 2.50 1,078
    2018-08-01 $744,000 (2.6%) $1,006,735 (-1.3%) 2.49 1,076
    2018-09-01 $729,900 (1.4%) $999,817 (-4.2%) 2.45 1,063
    2018-10-01 $713,750 (-1.5%) $980,884 (-7.1%) 2.42 1,028
    2018-11-01 $699,475 (-3.9%) $982,683 (-8.1%) 2.37 988
    2018-12-01 $695,000 (-6.4%) $993,670 (-7.3%) 2.40 918
    2019-01-01 $699,000 (-6.6%) $1,001,876 (-4.5%) 2.41 877
    2019-02-01 $699,995 (-6.0%) $996,058 (-1.0%) 2.36 880
    2019-03-01 $699,000 (-5.2%) $1,009,799 (1.1%) 2.29 928
    2019-04-01 $709,250 (-5.4%) $1,037,896 (1.6%) 2.25 994
    2019-05-01 $727,000 (-6.2%) $979,960 (-7.4%) 2.27 1,042
    2019-06-01 $729,270 (-4.7%) $968,845 (-8.0%) 2.28 1,059
    2019-07-01 $743,500 (-0.8%) $978,936 (-4.5%) 2.33 1,086
    2019-08-01 $741,727 (-0.3%) $966,229 (-4.0%) 2.35 1,074
    2019-09-01 $732,318 (0.3%) $948,449 (-5.1%) 2.34 1,029
    2019-10-01 $725,000 (1.6%) $936,334 (-4.5%) 2.34 990
    2019-11-01 $729,900 (4.4%) $944,356 (-3.9%) 2.39 914
    2019-12-01 $729,498 (5.0%) $942,923 (-5.1%) 2.43 805
    2020-01-01 $732,610 (4.8%) $945,906 (-5.6%) 2.45 773
    2020-02-01 $749,000 (7.0%) $976,297 (-2.0%) 2.45 772
    2020-03-01 $749,000 (7.2%) $1,019,595 (1.0%) 2.35 812
    2020-04-01 $749,000 (5.6%) $1,005,757 (-3.1%) 2.35 830
    2020-05-01 $765,000 (5.2%) $1,035,600 (5.7%) 2.33 847
    2020-06-01 $777,000 (6.5%) $1,031,544 (6.5%) 2.29 795
    2020-07-01 $793,343 (6.7%) $1,063,026 (8.6%) 2.30 735
    2020-08-01 $799,990 (7.9%) $1,119,965 (15.9%) 2.29 668
    2020-09-01 $799,250 (9.1%) $1,162,562 (22.6%) 2.29 587
    2020-10-01 $819,900 (13.1%) $1,168,062 (24.8%) 2.35 526
    2020-11-01 $799,000 (9.5%) $1,165,262 (23.4%) 2.34 491
    2020-12-01 $817,500 (12.1%) $1,184,791 (25.7%) 2.43 429
    2021-01-01 $847,000 (15.6%) $1,250,624 (32.2%) 2.53 372
    2021-02-01 $825,000 (10.2%) $1,262,324 (29.3%) 2.40 311
    2021-03-01 $842,850 (12.5%) $1,279,845 (25.5%) 2.39 301
    2021-04-01 $897,000 (19.8%) $1,425,972 (41.8%) 2.43 307
    2021-05-01 $886,500 (15.9%) $1,431,031 (38.2%) 2.36 344
    2021-06-01 $892,000 (14.8%) $1,440,471 (39.6%) 2.35 348
    2021-07-01 $889,000 (12.1%) $1,362,149 (28.1%) 2.35 385
    2021-08-01 $888,000 (11.0%) $1,411,259 (26.0%) 2.37 356
    2021-09-01 $901,750 (12.8%) $1,446,565 (24.4%) 2.40 348
    2021-10-01 $950,000 (15.9%) $1,567,842 (34.2%) 2.53 300
    2021-11-01 $957,625 (19.9%) $1,573,505 (35.0%) 2.56 288
    2021-12-01 $986,250 (20.6%) $1,601,964 (35.2%) 2.67 235
    2022-01-01 $1,049,500 (23.9%) $1,941,953 (55.3%) 2.84 200
    2022-02-01 $975,000 (18.2%) $1,839,763 (45.7%) 2.54 211
    2022-03-01 $991,375 (17.6%) $1,750,484 (36.8%) 2.48 238
    2022-04-01 $999,450 (11.4%) $1,653,293 (15.9%) 2.38 254
    2022-05-01 $996,250 (12.4%) $1,595,536 (11.5%) 2.28 337
    2022-06-01 $997,249 (11.8%) $1,539,960 (6.9%) 2.22 413
    2022-07-01 $925,000 (4.1%) $1,409,572 (3.5%) 2.08 478
    2022-08-01 $914,750 (3.0%) $1,427,903 (1.2%) 2.11 481
    2022-09-01 $949,500 (5.3%) $1,463,864 (1.2%) 2.22 449
    2022-10-01 $929,000 (-2.2%) $1,425,999 (-9.1%) 2.19 456
    2022-11-01 $950,000 (-0.8%) $1,460,384 (-7.2%) 2.28 454
    2022-12-01 $954,500 (-3.2%) $1,467,141 (-8.4%) 2.36 400
    2023-01-01 $952,000 (-9.3%) $1,283,047 (-33.9%) 2.36 353
    2023-02-01 $949,000 (-2.7%) $1,329,969 (-27.7%) 2.29 341
    2023-03-01 $980,000 (-1.2%) $1,359,082 (-22.4%) 2.31 316
    2023-04-01 $995,000 (-0.5%) $1,370,944 (-17.1%) 2.31 323
    2023-05-01 $992,625 (-0.4%) $1,380,794 (-13.5%) 2.25 342
    2023-06-01 $1,015,000 (1.8%) $1,444,641 (-6.2%) 2.28 356
    2023-07-01 $1,075,000 (16.2%) $1,505,893 (6.8%) 2.44 363
    2023-08-01 $1,124,950 (23.0%) $1,541,112 (7.9%) 2.58 405
    2023-09-01 $1,100,000 (15.9%) $1,579,983 (7.9%) 2.56 429
    2023-10-01 $1,000,000 (7.6%) $1,534,693 (7.6%) 2.35 444
    2023-11-01 $999,000 (5.2%) $1,505,755 (3.1%) 2.38 455
    2023-12-01 $999,000 (4.7%) $1,555,375 (6.0%) 2.44 395
    2024-01-01 $997,000 (4.7%) $1,568,222 (22.2%) 2.43 355
    2024-02-01 $1,029,250 (8.5%) $1,618,761 (21.7%) 2.48 344
    2024-03-01 $999,000 (1.9%) $1,580,777 (16.3%) 2.35 377
    2024-04-01 $1,100,000 (10.6%) $1,611,617 (17.6%) 2.56 420
    2024-05-01 $1,174,875 (18.4%) $1,696,251 (22.9%) 2.67 441
    2024-06-01 $1,195,000 (17.7%) $1,698,612 (17.6%) 2.72 462
    2024-07-01 $1,155,500 (7.5%) $1,707,080 (13.4%) 2.64 517
    2024-08-01 $1,125,000 (0.0%) $1,673,700 (8.6%) 2.62 529
    2024-09-01 $1,110,000 (0.9%) $1,595,915 (1.0%) 2.61 588
    2024-10-01 $1,160,000 (16.0%) $1,641,701 (7.0%) 2.73 582
    2024-11-01 $1,149,000 (15.0%) $1,640,748 (9.0%) 2.76 557
    2024-12-01 $1,098,500 (10.0%) $1,603,337 (3.1%) 2.73 477
    2025-01-01 $1,099,250 (10.3%) $1,622,642 (3.5%) 2.74 458
    2025-02-01 $1,125,000 (9.3%) $1,643,054 (1.5%) 2.73 450
    2025-03-01 $1,100,000 (10.1%) $1,603,328 (1.4%) 2.59 516
    2025-04-01 $1,152,500 (4.8%) $1,626,380 (0.9%) 2.67 595
    San Luis Obispo's median listing price for 2025-04-01 was $1,152,500, a difference of $52,500 (4.8%) versus the prior year and $52,500 versus the prior month.

    San Luis Obispo's median listing price comes in at 267% of the national average.

    San Luis Obispo's average listing price for 2025-04-01 was $1,626,380, a difference of $14,763 (0.9%) versus the prior year and $23,052 versus the prior month.

    For the 2025-04-01 period, San Luis Obispo had 595 MLS listings, a difference of 79 listings (15%) versus the prior month and 175 listings (42%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - San Luis Obispo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 75 days 1,956 sqft
    2018-02-01 62 days 1,932 sqft
    2018-03-01 46 days 1,929 sqft
    2018-04-01 44 days 1,985 sqft
    2018-05-01 43 days 2,013 sqft
    2018-06-01 47 days 2,001 sqft
    2018-07-01 51 days 1,934 sqft
    2018-08-01 54 days 1,950 sqft
    2018-09-01 57 days 1,926 sqft
    2018-10-01 61 days 1,906 sqft
    2018-11-01 65 days 1,902 sqft
    2018-12-01 71 days 1,886 sqft
    2019-01-01 74 days 1,881 sqft
    2019-02-01 64 days 1,908 sqft
    2019-03-01 57 days 1,908 sqft
    2019-04-01 57 days 1,912 sqft
    2019-05-01 53 days 1,930 sqft
    2019-06-01 59 days 1,923 sqft
    2019-07-01 64 days 1,981 sqft
    2019-08-01 67 days 1,966 sqft
    2019-09-01 72 days 1,925 sqft
    2019-10-01 75 days 1,892 sqft
    2019-11-01 77 days 1,890 sqft
    2019-12-01 88 days 1,893 sqft
    2020-01-01 84 days 1,879 sqft
    2020-02-01 75 days 1,882 sqft
    2020-03-01 59 days 1,883 sqft
    2020-04-01 64 days 1,897 sqft
    2020-05-01 74 days 1,930 sqft
    2020-06-01 91 days 1,949 sqft
    2020-07-01 76 days 1,938 sqft
    2020-08-01 64 days 1,908 sqft
    2020-09-01 67 days 1,931 sqft
    2020-10-01 66 days 1,946 sqft
    2020-11-01 72 days 1,947 sqft
    2020-12-01 79 days 1,926 sqft
    2021-01-01 84 days 1,904 sqft
    2021-02-01 73 days 1,927 sqft
    2021-03-01 52 days 1,891 sqft
    2021-04-01 49 days 1,992 sqft
    2021-05-01 44 days 1,971 sqft
    2021-06-01 43 days 1,889 sqft
    2021-07-01 39 days 1,861 sqft
    2021-08-01 45 days 1,834 sqft
    2021-09-01 46 days 1,846 sqft
    2021-10-01 46 days 1,921 sqft
    2021-11-01 47 days 1,879 sqft
    2021-12-01 54 days 1,881 sqft
    2022-01-01 62 days 1,974 sqft
    2022-02-01 42 days 1,921 sqft
    2022-03-01 35 days 1,877 sqft
    2022-04-01 36 days 1,867 sqft
    2022-05-01 32 days 1,889 sqft
    2022-06-01 37 days 1,877 sqft
    2022-07-01 39 days 1,859 sqft
    2022-08-01 50 days 1,865 sqft
    2022-09-01 55 days 1,895 sqft
    2022-10-01 55 days 1,865 sqft
    2022-11-01 60 days 1,788 sqft
    2022-12-01 68 days 1,768 sqft
    2023-01-01 77 days 1,800 sqft
    2023-02-01 72 days 1,806 sqft
    2023-03-01 59 days 1,868 sqft
    2023-04-01 56 days 1,848 sqft
    2023-05-01 46 days 1,833 sqft
    2023-06-01 43 days 1,827 sqft
    2023-07-01 45 days 1,847 sqft
    2023-08-01 47 days 1,966 sqft
    2023-09-01 54 days 1,916 sqft
    2023-10-01 58 days 1,901 sqft
    2023-11-01 59 days 1,871 sqft
    2023-12-01 70 days 1,807 sqft
    2024-01-01 78 days 1,790 sqft
    2024-02-01 63 days 1,768 sqft
    2024-03-01 51 days 1,808 sqft
    2024-04-01 49 days 1,837 sqft
    2024-05-01 45 days 1,886 sqft
    2024-06-01 54 days 1,902 sqft
    2024-07-01 53 days 1,920 sqft
    2024-08-01 57 days 1,927 sqft
    2024-09-01 58 days 1,879 sqft
    2024-10-01 61 days 1,932 sqft
    2024-11-01 70 days 1,867 sqft
    2024-12-01 85 days 1,857 sqft
    2025-01-01 86 days 1,864 sqft
    2025-02-01 78 days 1,934 sqft
    2025-03-01 57 days 1,915 sqft
    2025-04-01 53 days 1,915 sqft
    San Luis Obispo's median listing age (time on market) for 2025-04-01 was 53 days. This is 9% longer than the same period one year ago.

    San Luis Obispo's median square footage for active listings during the 2025-04-01 period was 1,915 sqft. One year prior, the average listing was 1,837 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.