Santa Rosa VA Loan Rates, Closing Costs & Stats

SANTA ROSA-PETALUMA, 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.

Santa Rosa's 32 lenders originated 96 VA loans during 2023. The total origination value was $66,830,000, with an average VA loan value of $696,146.

Santa Rosa VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Santa Rosa averaged 0.15% for the week of 2024-06-21, compared to the national average (all VA variants) of 0% for the same period.

Santa Rosa's average VA mortgage closing costs are $8,987.

The average rate for the prior week (2024-06-14) was 6.35% and one month ago for the week of 2024-05-17, the average rate was 6.54%.

The average rate one year ago was 6.35%.

For refis of the same type during the week of 2024-06-21, the average rate was 0.03%.

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

Santa Rosa 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 Santa Rosa level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 22 6.22% $15,587
Mortgage Research Center, LLC 8 6.50% $17,469
LOANDEPOT.COM, LLC 5 4.87% $10,957
CROSSCOUNTRY MORTGAGE, LLC 5 6.40% $18,253
QUICKEN LOANS, LLC 5 6.12% $15,880
DHI MORTGAGE COMPANY, LTD. 4 5.50% $13,038
BROKER SOLUTIONS, INC. 3 6.54% $18,299
AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.08% $25,009
NAVY FEDERAL CREDIT UNION 3 5.42% $7,597
Sierra Pacific Mortgage Company, Inc. 3 6.33% $17,701
GUILD MORTGAGE COMPANY 3 6.38% $13,110
PENNYMAC LOAN SERVICES, LLC 3 5.50% $8,695
Barrington Bank & Trust Company, N.A. 2 6.25% $24,654
FREEDOM MORTGAGE CORPORATION 2 6.94% $16,638
Paramount Residential Mortgage Group, Inc. 2 6.87% $7,548
The Federal Savings Bank 2 5.63% $30,888
USAA Federal Savings Bank 2 6.00% $3,878
VILLAGE CAPITAL MORTGAGE 2 6.63% $24,501
Wells Fargo Bank 1 6.50% $16,857
American Mortgage & Equity Consultants, Inc. 1 5.63% $15,561
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $14,845
Flagstar Bank, FSB 1 5.75% $85,003
GUARANTEED RATE AFFINITY, LLC 1 6.23% $12,363
GUARANTY HOME MORTGAGE CORPORATION 1 5.88% $6,445
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.63% $23,081
KBHS HOME LOANS, LLC 1 4.25% $20,421
Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $11,293
OCMBC, INC. 1 5.13% $13,096
PLANET HOME LENDING, LLC 1 6.38% $16,174
SUMMIT FUNDING, INC. 1 5.88% $42,098
SUN WEST MORTGAGE COMPANY, INC. 1 7.25% $6,652
AMERICAN FINANCIAL NETWORK, INC. 1 6.00% $5,507

The top Santa Rosa VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 22 VA loans originated. Their average total fees are $15,587, which is $1,882 lower than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Santa Rosa VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($15,587), .

The lowest rate Santa Rosa VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.22%), .

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.