Allentown VA Loan Rates, Closing Costs & Stats

ALLENTOWN-BETHLEHEM-EASTON, PA-NJ

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.

Allentown's 87 lenders originated 425 VA loans during 2023. The total origination value was $141,105,000, with an average VA loan value of $332,012.

Allentown VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Allentown averaged 6.67% for the week of 2024-05-24, compared to the national average (all VA variants) of 6.567% for the same period.

Allentown's average VA mortgage closing costs are $7,192.

The average rate for the prior week (2024-05-17) was 6.8% and one month ago for the week of 2024-04-19, the average rate was 6.96%.

The average rate one year ago was 6.64%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.95%.

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

Allentown 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 Allentown level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 67 6.76% $9,410
QUICKEN LOANS, LLC 31 6.01% $14,337
UNITED WHOLESALE MORTGAGE, LLC 25 6.11% $10,777
NAVY FEDERAL CREDIT UNION 18 5.93% $7,393
USAA Federal Savings Bank 15 6.26% $10,105
Prosperity Home Mortgage, LLC 12 6.32% $7,492
Mortgage America, Inc. 12 6.47% $8,852
CROSSCOUNTRY MORTGAGE, LLC 11 6.80% $10,122
NEWREZ LLC 11 6.46% $14,268
NEW DAY FINANCIAL, LLC 10 7.70% $11,304
LOANDEPOT.COM, LLC 10 6.32% $15,428
NVR Mortgage Finance, Inc. 9 5.24% $15,567
Mr. Cooper ( Nationstar Mortgage ) 7 5.64% $15,740
GUILD MORTGAGE COMPANY 7 6.45% $11,053
UNION HOME MORTGAGE CORP. 7 6.54% $8,779
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 6.40% $9,811
CARDINAL FINANCIAL 6 6.06% $10,560
FREEDOM MORTGAGE CORPORATION 6 6.67% $17,881
GUARANTEED RATE, INC. 5 6.04% $4,743
Wells Fargo Bank 5 6.80% $7,800
VILLAGE CAPITAL MORTGAGE 5 5.65% $19,934
Barrington Bank & Trust Company, N.A. 5 6.35% $9,597
MOVEMENT MORTGAGE, LLC 4 6.13% $13,903
CALIBER HOME LOANS, INC. 4 6.00% $10,959
CMG MORTGAGE, INC. 4 6.13% $17,279
Equity Prime Mortgage LLC 4 6.75% $10,091
PENNYMAC LOAN SERVICES, LLC 4 5.78% $9,921
First Federal Bank 3 6.08% $13,197
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.50% $8,302
PLANET HOME LENDING, LLC 3 6.42% $8,180
Quaint Oak Mortgage, LLC 3 6.71% $10,029
CHURCHILL MORTGAGE CORPORATION 3 6.25% $6,778
AMERICAN FINANCIAL RESOURCES, INC. 2 6.94% $15,798
BROKER SOLUTIONS, INC. 2 6.56% $9,918
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.75% $15,670
Century Mortgage Company DBA Century Lending Company 2 5.75% $8,427
PENTAGON FEDERAL CREDIT UNION 2 5.81% $9,057
Plains Commerce Bank 2 6.50% $10,372
PLAZA HOME MORTGAGE, INC. 2 6.63% $7,634
Ixonia Bank 2 7.44% $12,611
Citizens Bank 2 6.25% $5,898
Magnolia Bank 2 5.94% $15,232
The Loan Store, Inc. 2 6.37% $9,946
EAGLE HOME MORTGAGE, LLC 2 5.25% $10,317
MORTGAGE ACCESS CORP. 2 6.00% $14,724
MID AMERICA MORTGAGE, INC. 1 5.63% $3,729
American Mortgage & Equity Consultants, Inc. 1 7.75% $16,127
Bank of America 1 5.13% $21,444
Bank of England 1 6.00% $11,674
BAY EQUITY LLC 1 6.49% $6,060
BOND STREET MORTGAGE, LLC 1 7.25% $6,904
Carrington Mortgage Services, LLC 1 5.00% $22,140
DHI MORTGAGE COMPANY, LTD. 1 5.00% $12,426
DRAPER AND KRAMER MORTGAGE CORP. 1 6.63% $3,926
EMM LOANS LLC 1 6.13% $15,405
EVERETT FINANCIAL, INC. 1 8.13% $4,719
FIRST COLONY MORTGAGE CORPORATION 1 6.75% $4,900
Flagstar Bank, FSB 1 7.25% $14,967
GoPrime Mortgage, Inc. 1 7.38% $14,421
GUARANTEED RATE AFFINITY, LLC 1 6.63% $7,910
GUARANTY HOME MORTGAGE CORPORATION 1 6.75% $4,574
JPMorgan Chase Bank 1 6.50% $13,186
Keystone Funding, Inc. 1 6.25% $4,636
LAKEVIEW LOAN SERVICING, LLC 1 5.75% $5,894
Meridian Bank Corporation 1 6.63% $18,272
MICHIGAN MUTUAL, INC. 1 5.50% $11,008
ABSOLUTE HOME MORTGAGE CORPORATION 1 5.75% $10,784
MLB RESIDENTIAL LENDING, LLC 1 7.00% $8,184
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.50% $775
MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $14,390
Nations Lending Corporation 1 7.75% $1,468
Neighborhood Loans, Inc. 1 6.13% $11,259
NETWORK CAPITAL FUNDING CORPORATION 1 6.00% $13,492
NJ LENDERS CORP. 1 5.75% $6,501
Northeast Equitable Mortgage, LLC 1 5.50% $29,765
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.25% $6,030
PANORAMA MORTGAGE GROUP, LLC 1 6.38% $18,345
PARAGON HOME LOANS INC. 1 7.25% $7,455
Paramount Bank 1 6.13% $16,150
Paramount Residential Mortgage Group, Inc. 1 6.75% $8,937
PNC Bank 1 6.75% $15,177
Presidential Bank, FSB 1 7.25% $9,429
ROYAL UNITED MORTGAGE LLC 1 5.13% $12,092
SOVEREIGN LENDING GROUP INCORPORATED 1 5.75% $16,150
Strong Home Mortgage, LLC 1 5.99% $6,527
T2 FINANCIAL LLC 1 6.75% $9,655
The Huntington National Bank 1 6.75% $9,093

The top Allentown VA lender as defined by loan originations is Mortgage Research Center, LLC, with 67 VA loans originated. Their average total fees are $9,410, which is $4,928 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Allentown VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($7,393), Prosperity Home Mortgage, LLC ($7,492), Mortgage America, Inc. ($8,852), Mortgage Research Center, LLC ($9,410) and USAA Federal Savings Bank ($10,105).

The lowest rate Allentown VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.93%), QUICKEN LOANS, LLC (6.01%), UNITED WHOLESALE MORTGAGE, LLC (6.11%), USAA Federal Savings Bank (6.26%) and Prosperity Home Mortgage, LLC (6.32%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Allentown (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 $209,950 (10.5%) $277,520 (9.6%) 0.78 2,748
2018-02-01 $214,350 (8.8%) $281,165 (10.1%) 0.78 2,659
2018-03-01 $225,000 (10.6%) $286,425 (8.8%) 0.79 2,646
2018-04-01 $229,900 (6.9%) $288,560 (7.1%) 0.78 2,735
2018-05-01 $234,900 (7.0%) $292,661 (5.9%) 0.78 2,956
2018-06-01 $234,900 (6.6%) $295,401 (4.9%) 0.78 3,112
2018-07-01 $234,125 (6.4%) $292,661 (4.0%) 0.78 3,272
2018-08-01 $229,900 (4.6%) $287,985 (2.6%) 0.77 3,404
2018-09-01 $225,000 (1.4%) $284,677 (0.5%) 0.76 3,551
2018-10-01 $224,900 (1.2%) $284,409 (-0.6%) 0.76 3,530
2018-11-01 $219,900 (0.0%) $283,831 (0.0%) 0.75 3,362
2018-12-01 $219,000 (-0.4%) $282,013 (0.3%) 0.76 3,061
2019-01-01 $214,900 (2.4%) $277,063 (-0.2%) 0.74 2,837
2019-02-01 $219,900 (2.6%) $282,059 (0.3%) 0.74 2,759
2019-03-01 $215,614 (-4.2%) $275,046 (-4.0%) 0.71 2,955
2019-04-01 $210,664 (-8.4%) $269,347 (-6.7%) 0.67 3,274
2019-05-01 $215,950 (-8.1%) $272,027 (-7.1%) 0.67 3,385
2019-06-01 $219,900 (-6.4%) $273,723 (-7.3%) 0.69 3,491
2019-07-01 $224,200 (-4.2%) $271,413 (-7.3%) 0.70 3,519
2019-08-01 $218,564 (-4.9%) $269,623 (-6.4%) 0.69 3,510
2019-09-01 $216,559 (-3.8%) $271,663 (-4.6%) 0.69 3,465
2019-10-01 $215,223 (-4.3%) $274,145 (-3.6%) 0.69 3,401
2019-11-01 $235,000 (6.9%) $295,575 (4.1%) 0.77 2,624
2019-12-01 $232,225 (6.0%) $299,037 (6.0%) 0.77 2,357
2020-01-01 $234,125 (9.0%) $299,708 (8.2%) 0.78 2,088
2020-02-01 $243,900 (10.9%) $305,950 (8.5%) 0.80 1,915
2020-03-01 $254,950 (18.2%) $310,425 (12.9%) 0.80 1,917
2020-04-01 $259,175 (23.0%) $317,034 (17.7%) 0.81 1,709
2020-05-01 $259,900 (20.4%) $317,078 (16.6%) 0.79 1,673
2020-06-01 $259,950 (18.2%) $320,906 (17.2%) 0.77 1,689
2020-07-01 $269,700 (20.3%) $331,141 (22.0%) 0.78 1,522
2020-08-01 $272,700 (24.8%) $340,683 (26.4%) 0.78 1,486
2020-09-01 $277,450 (28.1%) $353,416 (30.1%) 0.80 1,449
2020-10-01 $269,900 (25.4%) $352,771 (28.7%) 0.77 1,497
2020-11-01 $270,200 (15.0%) $362,036 (22.5%) 0.79 1,357
2020-12-01 $274,950 (18.4%) $367,300 (22.8%) 0.82 1,206
2021-01-01 $279,000 (19.2%) $382,820 (27.7%) 0.83 998
2021-02-01 $294,925 (20.9%) $395,810 (29.4%) 0.86 874
2021-03-01 $289,675 (13.6%) $392,589 (26.5%) 0.82 909
2021-04-01 $290,175 (12.0%) $389,462 (22.9%) 0.79 1,013
2021-05-01 $299,500 (15.2%) $397,786 (25.5%) 0.80 1,079
2021-06-01 $299,900 (15.4%) $402,094 (25.3%) 0.79 1,215
2021-07-01 $299,000 (10.9%) $397,502 (20.0%) 0.79 1,375
2021-08-01 $299,175 (9.7%) $394,370 (15.8%) 0.80 1,381
2021-09-01 $299,600 (8.0%) $392,757 (11.1%) 0.80 1,364
2021-10-01 $299,000 (10.8%) $388,364 (10.1%) 0.80 1,320
2021-11-01 $299,900 (11.0%) $392,612 (8.5%) 0.80 1,150
2021-12-01 $299,900 (9.1%) $399,077 (8.7%) 0.81 934
2022-01-01 $303,450 (8.8%) $408,336 (6.7%) 0.82 765
2022-02-01 $297,450 (0.9%) $404,566 (2.2%) 0.77 718
2022-03-01 $306,000 (5.6%) $411,959 (4.9%) 0.77 713
2022-04-01 $325,000 (12.0%) $436,835 (12.2%) 0.77 766
2022-05-01 $349,900 (16.8%) $439,250 (10.4%) 0.80 991
2022-06-01 $353,225 (17.8%) $446,289 (11.0%) 0.79 1,155
2022-07-01 $350,000 (17.1%) $433,679 (9.1%) 0.79 1,343
2022-08-01 $354,533 (18.5%) $439,956 (11.6%) 0.82 1,321
2022-09-01 $355,820 (18.8%) $437,065 (11.3%) 0.83 1,271
2022-10-01 $350,000 (17.1%) $441,035 (13.6%) 0.82 1,320
2022-11-01 $351,033 (17.1%) $444,365 (13.2%) 0.84 1,298
2022-12-01 $365,000 (21.7%) $471,309 (18.1%) 0.90 1,104
2023-01-01 $357,450 (17.8%) $468,259 (14.7%) 0.89 971
2023-02-01 $361,950 (21.7%) $467,010 (15.4%) 0.87 864
2023-03-01 $375,000 (22.6%) $470,556 (14.2%) 0.88 797
2023-04-01 $379,900 (16.9%) $490,464 (12.3%) 0.88 822
2023-05-01 $385,000 (10.0%) $497,539 (13.3%) 0.87 879
2023-06-01 $377,450 (6.9%) $487,932 (9.3%) 0.85 959
2023-07-01 $375,000 (7.1%) $491,214 (13.3%) 0.85 959
2023-08-01 $379,900 (7.2%) $483,217 (9.8%) 0.87 1,005
2023-09-01 $379,250 (6.6%) $481,338 (10.1%) 0.88 1,005
2023-10-01 $370,450 (5.8%) $477,050 (8.2%) 0.87 1,051
2023-11-01 $365,000 (4.0%) $483,381 (8.8%) 0.87 1,050
2023-12-01 $369,450 (1.2%) $491,303 (4.2%) 0.90 998
2024-01-01 $369,575 (3.4%) $490,959 (4.9%) 0.90 871
2024-02-01 $369,800 (2.2%) $483,392 (3.5%) 0.89 893
2024-03-01 $389,000 (3.7%) $499,709 (6.2%) 0.92 888
2024-04-01 $387,295 (2.0%) $495,211 (1.0%) 0.90 950
Allentown's median listing price for 2024-04-01 was $387,295, a difference of $7,395 (2.0%) versus the prior year and $-1,705 versus the prior month.

Allentown's median listing price comes in at 90% of the national average.

Allentown's average listing price for 2024-04-01 was $495,211, a difference of $4,747 (1.0%) versus the prior year and $-4,498 versus the prior month.

For the 2024-04-01 period, Allentown had 950 MLS listings, a difference of 62 listings (7%) versus the prior month and 128 listings (16%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Allentown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 84 days 1,824 sqft
2018-02-01 80 days 1,839 sqft
2018-03-01 60 days 1,888 sqft
2018-04-01 54 days 1,899 sqft
2018-05-01 44 days 1,895 sqft
2018-06-01 47 days 1,905 sqft
2018-07-01 52 days 1,898 sqft
2018-08-01 54 days 1,869 sqft
2018-09-01 60 days 1,843 sqft
2018-10-01 65 days 1,833 sqft
2018-11-01 70 days 1,831 sqft
2018-12-01 75 days 1,824 sqft
2019-01-01 82 days 1,810 sqft
2019-02-01 78 days 1,814 sqft
2019-03-01 65 days 1,838 sqft
2019-04-01 53 days 1,886 sqft
2019-05-01 50 days 1,957 sqft
2019-06-01 54 days 1,983 sqft
2019-07-01 59 days 1,987 sqft
2019-08-01 59 days 1,945 sqft
2019-09-01 61 days 1,929 sqft
2019-10-01 63 days 1,932 sqft
2019-11-01 61 days 1,929 sqft
2019-12-01 74 days 1,910 sqft
2020-01-01 81 days 1,902 sqft
2020-02-01 71 days 1,883 sqft
2020-03-01 47 days 1,923 sqft
2020-04-01 62 days 1,937 sqft
2020-05-01 73 days 1,921 sqft
2020-06-01 35 days 1,904 sqft
2020-07-01 31 days 1,884 sqft
2020-08-01 30 days 1,866 sqft
2020-09-01 32 days 1,893 sqft
2020-10-01 31 days 1,842 sqft
2020-11-01 38 days 1,813 sqft
2020-12-01 47 days 1,814 sqft
2021-01-01 57 days 1,820 sqft
2021-02-01 47 days 1,916 sqft
2021-03-01 25 days 1,926 sqft
2021-04-01 22 days 1,936 sqft
2021-05-01 20 days 1,983 sqft
2021-06-01 20 days 1,988 sqft
2021-07-01 24 days 1,927 sqft
2021-08-01 30 days 1,921 sqft
2021-09-01 36 days 1,924 sqft
2021-10-01 37 days 1,896 sqft
2021-11-01 38 days 1,880 sqft
2021-12-01 49 days 1,880 sqft
2022-01-01 47 days 1,920 sqft
2022-02-01 27 days 1,868 sqft
2022-03-01 18 days 1,926 sqft
2022-04-01 16 days 1,978 sqft
2022-05-01 16 days 2,033 sqft
2022-06-01 20 days 2,062 sqft
2022-07-01 26 days 2,016 sqft
2022-08-01 35 days 2,006 sqft
2022-09-01 42 days 2,014 sqft
2022-10-01 39 days 1,986 sqft
2022-11-01 45 days 1,980 sqft
2022-12-01 59 days 2,012 sqft
2023-01-01 60 days 1,981 sqft
2023-02-01 43 days 1,968 sqft
2023-03-01 37 days 1,973 sqft
2023-04-01 31 days 2,000 sqft
2023-05-01 25 days 2,000 sqft
2023-06-01 29 days 1,975 sqft
2023-07-01 30 days 2,005 sqft
2023-08-01 32 days 2,011 sqft
2023-09-01 34 days 1,966 sqft
2023-10-01 36 days 1,944 sqft
2023-11-01 39 days 1,933 sqft
2023-12-01 50 days 1,945 sqft
2024-01-01 52 days 1,947 sqft
2024-02-01 38 days 1,971 sqft
2024-03-01 37 days 1,975 sqft
2024-04-01 30 days 2,001 sqft
Allentown's median listing age (time on market) for 2024-04-01 was 30 days. This is -3% shorter than the same period one year ago.

Allentown's median square footage for active listings during the 2024-04-01 period was 2,001 sqft. One year prior, the average listing was 2,000 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.