Sonora VA Loan Rates, Closing Costs & Stats

Sonora, 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.

    Sonora's 60 lenders originated 251 VA loans during 2021. The total origination value was $79,215,000, with an average VA loan value of $315,598.

    Sonora VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Sonora averaged 6.4% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

    Sonora's average VA mortgage closing costs are $5,575.

    The average rate for the prior week (2022-11-25) was 6.93% and one month ago for the week of 2022-10-28, the average rate was 7.12%.

    The average rate one year ago was 3.5%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.61%.

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

    Sonora 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 Sonora level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    QUICKEN LOANS, LLC 40 2.33% $4,631
    UNITED WHOLESALE MORTGAGE, LLC 15 2.48% $5,957
    FREEDOM MORTGAGE CORPORATION 15 2.38% $3,297
    PENNYMAC LOAN SERVICES, LLC 13 2.32% $4,380
    Mortgage Research Center, LLC 11 2.78% $6,681
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 2.64% $5,474
    LOANDEPOT.COM, LLC 9 2.30% $5,093
    CALIBER HOME LOANS, INC. 8 2.51% $3,660
    VILLAGE CAPITAL MORTGAGE 7 2.04% $4,285
    NAVY FEDERAL CREDIT UNION 6 2.58% $5,000
    HOME POINT FINANCIAL CORPORATION 6 2.35% $3,996
    NEW DAY FINANCIAL, LLC 5 2.59% $8,846
    LAKEVIEW LOAN SERVICING, LLC 4 2.31% $1,806
    USAA Federal Savings Bank 4 2.75% $2,524
    MEGASTAR FINANCIAL CORP. 4 2.88% $4,195
    The Federal Savings Bank 3 2.63% $4,036
    Barrington Bank & Trust Company, N.A. 3 2.54% $4,327
    AMERICAN FINANCIAL NETWORK, INC. 3 2.54% $8,342
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 2.79% $4,443
    Wells Fargo Bank 2 2.69% $8,413
    CLEARPATH LENDING 2 2.25% $6,214
    CROSSCOUNTRY MORTGAGE, LLC 2 3.25% $14,615
    GUARANTEED RATE, INC. 2 2.31% $2,538
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.25% $7,735
    Magnolia Bank 2 3.00% $10,152
    Mr. Cooper ( Nationstar Mortgage ) 2 2.50% $3,103
    NEWREZ LLC 2 2.50% $3,023
    PLANET HOME LENDING, LLC 2 2.25% $4,748
    SOVEREIGN LENDING GROUP INCORPORATED 2 2.56% $7,258
    SUMMIT FUNDING, INC. 2 2.50% $21,609
    Flagstar Bank, FSB 1 2.75% $12,449
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $5,919
    BNC National Bank 1 2.38% $1,935
    NATIONS DIRECT MORTGAGE, LLC 1 2.38% $4,872
    First Guaranty Mortgage Corporation 1 2.25% $2,077
    NETWORK CAPITAL FUNDING CORPORATION 1 3.25% $2,869
    First Federal Bank 1 2.88% $10,013
    U.S. Bank 1 2.50% $15,208
    North American Savings Bank, F.S.B. 1 2.63% $1,849
    Northpointe Bank 1 2.75% $3,998
    FINANCE OF AMERICA MORTGAGE LLC 1 2.50% $13,412
    PENTAGON FEDERAL CREDIT UNION 1 2.25% $2,635
    Plains Commerce Bank 1 3.25% $2,722
    VERITAS FUNDING, LLC 1 2.25% $13,247
    PLAZA HOME MORTGAGE, INC. 1 2.50% $4,389
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.00% $15,176
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.88% $12,581
    Equity Prime Mortgage LLC 1 2.88% $2,840
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $7,670
    Sierra Pacific Mortgage Company, Inc. 1 2.63% $6,964
    American Mortgage & Equity Consultants, Inc. 1 2.50% $2,179
    ACADEMY MORTGAGE CORPORATION 1 2.75% $4,639
    CMG MORTGAGE, INC. 1 3.25% $4,759
    Umpqua Bank 1 2.50% $3,712
    Low VA Rates, LLC 1 2.25% $0
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.63% $3,598
    MASON MCDUFFIE MORTGAGE CORPORATION 1 2.25% $4,306
    GUARANTEED RATE AFFINITY, LLC 1 3.00% $11,763
    Mid-Continent Funding, Inc. 1 2.25% $11,187
    MORTGAGE CAPITAL PARTNERS, INC. 1 2.75% $12,050

    The top Sonora VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 40 VA loans originated. Their average total fees are $4,631, which is $1,326 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Sonora VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($3,297), PENNYMAC LOAN SERVICES, LLC ($4,380), QUICKEN LOANS, LLC ($4,631), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,474) and UNITED WHOLESALE MORTGAGE, LLC ($5,957).

    The lowest rate Sonora VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.32%), QUICKEN LOANS, LLC (2.33%), FREEDOM MORTGAGE CORPORATION (2.38%), UNITED WHOLESALE MORTGAGE, LLC (2.48%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (2.64%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Sonora (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 $323,250 (2.6%) $388,005 (-0.6%) 0.00 313
    2018-02-01 $325,000 (3.7%) $400,258 (1.6%) 0.00 296
    2018-03-01 $325,000 (2.4%) $399,228 (-0.1%) 0.00 311
    2018-04-01 $344,250 (5.9%) $418,658 (5.3%) 0.00 326
    2018-05-01 $349,950 (7.7%) $435,575 (8.4%) 0.00 361
    2018-06-01 $350,000 (6.4%) $435,602 (10.1%) 0.00 415
    2018-07-01 $349,450 (7.5%) $423,887 (11.1%) 0.00 496
    2018-08-01 $348,500 (7.2%) $422,111 (8.9%) 0.00 521
    2018-09-01 $339,000 (6.3%) $415,157 (7.4%) 0.00 529
    2018-10-01 $337,000 (6.3%) $407,088 (3.2%) 0.00 505
    2018-11-01 $339,000 (9.7%) $405,030 (4.2%) 0.00 466
    2018-12-01 $329,000 (6.5%) $400,151 (5.1%) 0.00 425
    2019-01-01 $334,200 (3.4%) $408,435 (5.3%) 0.00 342
    2019-02-01 $329,450 (1.4%) $403,979 (0.9%) 0.00 331
    2019-03-01 $333,693 (2.7%) $410,123 (2.7%) 0.00 348
    2019-04-01 $339,475 (-1.4%) $416,794 (-0.5%) 0.00 397
    2019-05-01 $347,225 (-0.8%) $428,764 (-1.6%) 0.00 475
    2019-06-01 $354,450 (1.3%) $433,270 (-0.5%) 0.00 547
    2019-07-01 $349,700 (0.1%) $420,245 (-0.9%) 0.00 614
    2019-08-01 $346,636 (-0.5%) $416,176 (-1.4%) 0.00 630
    2019-09-01 $342,341 (1.0%) $415,656 (0.1%) 0.00 625
    2019-10-01 $342,477 (1.6%) $415,234 (2.0%) 0.00 611
    2019-11-01 $339,000 (0.0%) $415,302 (2.5%) 0.00 554
    2019-12-01 $336,000 (2.1%) $427,814 (6.9%) 0.00 474
    2020-01-01 $329,000 (-1.6%) $426,026 (4.3%) 0.00 363
    2020-02-01 $329,000 (-0.1%) $428,325 (6.0%) 0.00 349
    2020-03-01 $339,125 (1.6%) $422,910 (3.1%) 0.00 366
    2020-04-01 $335,675 (-1.1%) $420,328 (0.9%) 0.00 352
    2020-05-01 $338,000 (-2.7%) $424,292 (-1.0%) 0.00 353
    2020-06-01 $359,488 (1.4%) $435,708 (0.6%) 0.00 339
    2020-07-01 $369,713 (5.7%) $445,692 (6.1%) 0.00 320
    2020-08-01 $381,100 (9.9%) $463,551 (11.4%) 0.00 252
    2020-09-01 $378,750 (10.6%) $546,723 (31.5%) 0.00 242
    2020-10-01 $375,000 (9.5%) $545,586 (31.4%) 0.00 248
    2020-11-01 $397,000 (17.1%) $493,315 (18.8%) 0.00 219
    2020-12-01 $399,925 (19.0%) $516,460 (20.7%) 0.00 191
    2021-01-01 $432,000 (31.3%) $542,645 (27.4%) 0.00 163
    2021-02-01 $466,975 (41.9%) $587,900 (37.3%) 0.00 129
    2021-03-01 $469,750 (38.5%) $558,524 (32.1%) 0.00 130
    2021-04-01 $449,971 (34.1%) $533,892 (27.0%) 0.00 158
    2021-05-01 $448,500 (32.7%) $521,917 (23.0%) 0.00 177
    2021-06-01 $451,750 (25.7%) $532,674 (22.3%) 0.00 196
    2021-07-01 $449,900 (21.7%) $532,671 (19.5%) 0.00 203
    2021-08-01 $439,613 (15.4%) $518,613 (11.9%) 0.00 227
    2021-09-01 $432,000 (14.1%) $517,409 (-5.4%) 0.00 243
    2021-10-01 $432,500 (15.3%) $535,289 (-1.9%) 0.00 259
    2021-11-01 $450,000 (13.4%) $567,519 (15.0%) 0.00 233
    2021-12-01 $479,000 (19.8%) $595,965 (15.4%) 0.00 183
    2022-01-01 $492,725 (14.1%) $628,648 (15.9%) 0.00 127
    2022-02-01 $489,625 (4.9%) $639,264 (8.7%) 0.00 115
    2022-03-01 $494,250 (5.2%) $625,165 (11.9%) 0.00 138
    2022-04-01 $491,500 (9.2%) $597,505 (11.9%) 0.00 158
    2022-05-01 $479,750 (7.0%) $1,262,527 (141.9%) 0.00 211
    2022-06-01 $473,725 (4.9%) $579,209 (8.7%) 0.00 266
    2022-07-01 $459,000 (2.0%) $548,948 (3.1%) 0.00 315
    2022-08-01 $449,450 (2.2%) $527,474 (1.7%) 0.00 344
    2022-09-01 $447,000 (3.5%) $531,049 (2.6%) 0.00 318
    2022-10-01 $449,000 (3.8%) $533,600 (-0.3%) 0.00 313
    2022-11-01 $431,250 (-4.2%) $529,741 (-6.7%) 0.00 298
    Sonora's median listing price for 2022-11-01 was $431,250, a difference of $-18,750 (-4.2%) versus the prior year and $-17,750 versus the prior month.

    Sonora's median listing price comes in at 0% of the national average.

    Sonora's average listing price for 2022-11-01 was $529,741, a difference of $-37,778 (-6.7%) versus the prior year and $-3,859 versus the prior month.

    For the 2022-11-01 period, Sonora had 298 MLS listings, a difference of -15 listings (-5%) versus the prior month and 65 listings (28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Sonora (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,728 sqft
    2018-02-01 0 days 1,739 sqft
    2018-03-01 0 days 1,750 sqft
    2018-04-01 0 days 1,773 sqft
    2018-05-01 0 days 1,841 sqft
    2018-06-01 0 days 1,873 sqft
    2018-07-01 0 days 1,793 sqft
    2018-08-01 0 days 1,779 sqft
    2018-09-01 0 days 1,792 sqft
    2018-10-01 0 days 1,761 sqft
    2018-11-01 0 days 1,784 sqft
    2018-12-01 0 days 1,762 sqft
    2019-01-01 0 days 1,798 sqft
    2019-02-01 0 days 1,760 sqft
    2019-03-01 0 days 1,790 sqft
    2019-04-01 0 days 1,815 sqft
    2019-05-01 0 days 1,843 sqft
    2019-06-01 0 days 1,844 sqft
    2019-07-01 0 days 1,817 sqft
    2019-08-01 0 days 1,809 sqft
    2019-09-01 0 days 1,817 sqft
    2019-10-01 0 days 1,826 sqft
    2019-11-01 0 days 1,803 sqft
    2019-12-01 0 days 1,803 sqft
    2020-01-01 0 days 1,793 sqft
    2020-02-01 0 days 1,776 sqft
    2020-03-01 0 days 1,762 sqft
    2020-04-01 0 days 1,787 sqft
    2020-05-01 0 days 1,772 sqft
    2020-06-01 0 days 1,812 sqft
    2020-07-01 0 days 1,814 sqft
    2020-08-01 0 days 1,785 sqft
    2020-09-01 0 days 1,795 sqft
    2020-10-01 0 days 1,790 sqft
    2020-11-01 0 days 1,801 sqft
    2020-12-01 0 days 1,805 sqft
    2021-01-01 0 days 1,814 sqft
    2021-02-01 0 days 1,811 sqft
    2021-03-01 0 days 1,817 sqft
    2021-04-01 0 days 1,800 sqft
    2021-05-01 0 days 1,797 sqft
    2021-06-01 0 days 1,794 sqft
    2021-07-01 0 days 1,786 sqft
    2021-08-01 0 days 1,731 sqft
    2021-09-01 0 days 1,755 sqft
    2021-10-01 0 days 1,732 sqft
    2021-11-01 0 days 1,841 sqft
    2021-12-01 0 days 1,867 sqft
    2022-01-01 0 days 1,889 sqft
    2022-02-01 0 days 1,819 sqft
    2022-03-01 0 days 1,895 sqft
    2022-04-01 0 days 1,836 sqft
    2022-05-01 0 days 1,778 sqft
    2022-06-01 0 days 1,810 sqft
    2022-07-01 0 days 1,757 sqft
    2022-08-01 0 days 1,759 sqft
    2022-09-01 0 days 1,769 sqft
    2022-10-01 0 days 1,734 sqft
    2022-11-01 0 days 1,721 sqft
    Sonora's median listing age (time on market) for 2022-11-01 was 0 days.

    Sonora's median square footage for active listings during the 2022-11-01 period was 1,721 sqft. One year prior, the average listing was 1,841 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.