Truckee VA Loan Rates, Closing Costs & Stats

Truckee-Grass Valley, 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.

    Truckee's 23 lenders originated 67 VA loans during 2023. The total origination value was $34,625,000, with an average VA loan value of $516,791.

    Truckee VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Truckee averaged 6.71% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Truckee's average VA mortgage closing costs are $6,973.

    The average rate for the prior week (2024-11-01) was 6.47% and one month ago for the week of 2024-10-04, the average rate was 6.1%.

    The average rate one year ago was 7.55%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.76%.

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

    Truckee 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 Truckee level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 13 6.03% $10,740
    Mortgage Research Center, LLC 11 6.67% $7,607
    QUICKEN LOANS, LLC 7 6.07% $13,534
    MOVEMENT MORTGAGE, LLC 6 6.35% $7,076
    LOANDEPOT.COM, LLC 3 5.92% $24,746
    Flagstar Bank, FSB 3 6.46% $10,848
    USAA Federal Savings Bank 2 6.50% $15,106
    CROSSCOUNTRY MORTGAGE, LLC 2 5.25% $4,988
    GUARANTEED RATE, INC. 2 6.49% $9,093
    GUILD MORTGAGE COMPANY 2 6.88% $12,809
    Mr. Cooper ( Nationstar Mortgage ) 2 6.25% $18,727
    NAVY FEDERAL CREDIT UNION 2 5.31% $1,555
    CALIBER HOME LOANS, INC. 1 6.25% $6,083
    BAY EQUITY LLC 1 6.13% $2,001
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $8,875
    NBKC BANK 1 5.63% $2,954
    NEW DAY FINANCIAL, LLC 1 7.38% $16,918
    North American Savings Bank, F.S.B. 1 4.88% $16,242
    PENNYMAC LOAN SERVICES, LLC 1 5.13% $2,955
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.63% $10,320
    BROKER SOLUTIONS, INC. 1 6.63% $5,562
    FREEDOM MORTGAGE CORPORATION 1 6.88% $8,716
    Franklin Loan Corporation 1 6.25% $4,409

    The top Truckee VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 13 VA loans originated. Their average total fees are $10,740, which is $3,132 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Truckee VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,607), UNITED WHOLESALE MORTGAGE, LLC ($10,740), .

    The lowest rate Truckee VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.03%), Mortgage Research Center, LLC (6.67%), .

    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.