Modesto VA Loan Rates, Closing Costs & Stats

MODESTO, 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.

    Modesto's 67 lenders originated 374 VA loans during 2024. The total origination value was $177,250,000, with an average VA loan value of $473,930.

    Modesto VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Modesto averaged 6.77% for the week of 2025-07-18, compared to the national average (all VA variants) of 6.385% for the same period.

    Modesto's average VA mortgage closing costs are $7,533.

    The average rate for the prior week (2025-07-11) was 6.86% and one month ago for the week of 2025-06-13, the average rate was 6.74%.

    The average rate one year ago was 6.73%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.65%.

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

    Modesto 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 Modesto level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 61 5.87% $9,924
    Mortgage Research Center, LLC 57 6.15% $8,753
    QUICKEN LOANS, LLC 27 5.94% $9,860
    AMERICAN PACIFIC MORTGAGE CORPORATION 20 6.34% $13,439
    LOANDEPOT.COM, LLC 13 5.92% $6,659
    FREEDOM MORTGAGE CORPORATION 13 5.88% $9,888
    Century Mortgage Company DBA Century Lending Company 12 6.09% $12,680
    CROSSCOUNTRY MORTGAGE, LLC 10 6.21% $7,070
    GUARANTEED RATE, INC. 9 5.86% $7,567
    SCENIC OAKS FUNDING, INC. 8 6.19% $16,475
    KBHS HOME LOANS, LLC 8 5.48% $9,044
    PENNYMAC LOAN SERVICES, LLC 8 5.73% $12,193
    DHI MORTGAGE COMPANY, LTD. 8 5.42% $10,991
    VILLAGE CAPITAL MORTGAGE 7 5.82% $9,246
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 6 4.60% $8,472
    The Federal Savings Bank 5 6.75% $24,379
    NAVY FEDERAL CREDIT UNION 5 5.93% $5,681
    EAGLE HOME MORTGAGE, LLC 5 4.64% $4,128
    NEWREZ LLC 5 6.35% $6,246
    GUILD MORTGAGE COMPANY 4 6.19% $14,177
    Cornerstone First Mortgage, Inc 3 6.29% $9,200
    Equity Prime Mortgage LLC 3 6.83% $13,356
    NFM, INC. 3 5.58% $9,230
    Paramount Residential Mortgage Group, Inc. 3 6.00% $11,526
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.67% $9,650
    Carrington Mortgage Services, LLC 3 6.71% $19,042
    CARDINAL FINANCIAL 3 6.58% $8,654
    ALAMEDA MORTGAGE CORPORATION 2 6.94% $7,913
    Barrington Bank & Trust Company, N.A. 2 6.50% $7,012
    DIRECTIONS EQUITY, LLC 2 5.75% $14,974
    Franklin Loan Corporation 2 6.38% $8,437
    LAKEVIEW LOAN SERVICING, LLC 2 5.63% $3,597
    NATIONS DIRECT MORTGAGE, LLC 2 5.38% $14,309
    NEW DAY FINANCIAL, LLC 2 7.25% $13,318
    SUN WEST MORTGAGE COMPANY, INC. 2 6.13% $32,260
    U.S. Bank 2 6.13% $19,857
    Wells Fargo Bank 2 6.56% $10,133
    Magnolia Bank 1 5.00% $14,815
    MASON MCDUFFIE MORTGAGE CORPORATION 1 5.75% $9,519
    FIRST COLONY MORTGAGE CORPORATION 1 6.25% $6,827
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.25% $5,680
    MOVEMENT MORTGAGE, LLC 1 6.75% $16,825
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $12,879
    AMERICAN FINANCING CORPORATION 1 5.75% $14,183
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $4,908
    AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $10,497
    DAS Acquisition Company, LLC 1 5.63% $10,611
    Commerce Home Mortgage, Inc. 1 6.63% $5,231
    COASTAL FUNDING SLC, INC. 1 5.63% $7,771
    CLEARPATH LENDING 1 5.50% $2,252
    Performance Financial, Inc. 1 7.25% $16,105
    PLANET HOME LENDING, LLC 1 5.49% $6,473
    PLAZA HOME MORTGAGE, INC. 1 5.88% $9,709
    BROKER SOLUTIONS, INC. 1 6.13% $17,260
    Prosperity Home Mortgage, LLC 1 5.75% $2,966
    BAY EQUITY LLC 1 6.63% $963
    Armed Forces Bank 1 5.75% $4,258
    Sierra Pacific Mortgage Company, Inc. 1 5.99% $19,282
    Vellum Mortgage, Inc. 1 6.00% $7,932
    AMERISAVE MORTGAGE CORPORATION 1 5.63% $19,372
    TOWNE MORTGAGE COMPANY 1 6.00% $10,190
    JPMorgan Chase Bank 1 5.63% $0
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.63% $24,283
    Lakeview Community Capital, LLC 1 6.25% $4,974
    UNION HOME MORTGAGE CORP. 1 5.63% $4,611
    LEADERONE FINANCIAL CORPORATION 1 5.75% $9,826
    Flagstar Bank, FSB 1 7.75% $8,559

    The top Modesto VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 61 VA loans originated. Their average total fees are $9,924, which is $1,171 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Modesto VA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC ($6,659), CROSSCOUNTRY MORTGAGE, LLC ($7,070), Mortgage Research Center, LLC ($8,753), QUICKEN LOANS, LLC ($9,860) and FREEDOM MORTGAGE CORPORATION ($9,888).

    The lowest rate Modesto VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.87%), FREEDOM MORTGAGE CORPORATION (5.88%), LOANDEPOT.COM, LLC (5.92%), QUICKEN LOANS, LLC (5.94%) and Century Mortgage Company DBA Century Lending Company (6.09%).

    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.