Baltimore VA Loan Rates, Closing Costs & Stats

BALTIMORE-COLUMBIA-TOWSON, MD

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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.

    Baltimore's 181 lenders originated 3,611 VA loans during 2023. The total origination value was $1,636,325,000, with an average VA loan value of $453,150.

    Baltimore VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Baltimore averaged 6.74% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Baltimore's average VA mortgage closing costs are $7,834.

    The average rate for the prior week (2024-11-01) was 6.5% and one month ago for the week of 2024-10-04, the average rate was 5.72%.

    The average rate one year ago was 7.48%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.68%.

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

    Baltimore 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 Baltimore level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 371 6.71% $9,752
    NAVY FEDERAL CREDIT UNION 235 5.83% $9,045
    UNITED WHOLESALE MORTGAGE, LLC 214 6.18% $10,842
    FIRST HOME MORTGAGE CORPORATION 152 6.29% $14,699
    QUICKEN LOANS, LLC 149 6.23% $14,176
    NVR Mortgage Finance, Inc. 136 5.72% $10,600
    NFM, INC. 115 6.49% $13,054
    FREEDOM MORTGAGE CORPORATION 84 6.63% $17,838
    Prosperity Home Mortgage, LLC 76 6.19% $11,464
    PENNYMAC LOAN SERVICES, LLC 70 5.62% $10,759
    USAA Federal Savings Bank 65 6.33% $11,029
    PRIMARY RESIDENTIAL MORTGAGE, INC. 63 6.27% $12,603
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 63 6.36% $10,090
    PENTAGON FEDERAL CREDIT UNION 62 5.54% $12,111
    The Federal Savings Bank 59 6.33% $20,600
    Towne Bank 58 6.17% $14,771
    GUARANTEED RATE AFFINITY, LLC 56 6.33% $11,820
    BAY CAPITAL MORTGAGE CORPORATION 54 6.22% $15,817
    MOVEMENT MORTGAGE, LLC 54 6.70% $11,274
    Meridian Bank Corporation 51 6.25% $12,197
    EAGLE HOME MORTGAGE, LLC 42 6.33% $8,296
    CROSSCOUNTRY MORTGAGE, LLC 42 6.54% $9,352
    LOANDEPOT.COM, LLC 41 6.19% $14,643
    NEWREZ LLC 41 6.50% $14,144
    EMBRACE HOME LOANS, INC. 38 6.11% $14,464
    GUARANTEED RATE, INC. 33 5.99% $7,541
    Truist 32 6.08% $11,344
    CMG MORTGAGE, INC. 30 6.10% $12,474
    NEW DAY FINANCIAL, LLC 29 7.27% $17,310
    Plains Commerce Bank 25 6.21% $13,281
    DHI MORTGAGE COMPANY, LTD. 24 5.68% $7,152
    Mr. Cooper ( Nationstar Mortgage ) 23 6.03% $15,574
    CALIBER HOME LOANS, INC. 23 6.08% $11,668
    VILLAGE CAPITAL MORTGAGE 21 6.17% $12,598
    Sandy Spring Bank 21 6.17% $13,840
    BAY EQUITY LLC 18 6.57% $11,519
    DIRECT MORTGAGE LOANS, LLC 18 6.83% $16,153
    George Mason Mortgage, LLC 18 6.17% $14,122
    Atlantic Coast Mortgage, LLC 17 6.11% $19,180
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 16 6.62% $15,033
    NBKC BANK 16 5.56% $13,414
    DRAPER AND KRAMER MORTGAGE CORP. 15 5.98% $9,671
    AMERISAVE MORTGAGE CORPORATION 15 5.77% $17,477
    Vellum Mortgage, Inc. 14 6.02% $15,467
    PULTE MORTGAGE LLC 14 5.92% $7,768
    PRIMELENDING, A PLAINSCAPITAL COMPANY 14 6.74% $8,935
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 14 6.64% $9,984
    GUILD MORTGAGE COMPANY 14 6.49% $14,865
    Presidential Bank, FSB 14 6.26% $15,367
    WesBanco 12 6.38% $12,913
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 12 6.35% $12,197
    Keystone Funding, Inc. 12 6.21% $11,487
    Paramount Residential Mortgage Group, Inc. 12 6.54% $18,317
    Shore United Bank 12 6.14% $13,371
    SUN WEST MORTGAGE COMPANY, INC. 12 6.05% $12,402
    MUTUAL OF OMAHA MORTGAGE, INC. 11 6.57% $18,670
    DAS Acquisition Company, LLC 11 6.78% $7,340
    ACADEMY MORTGAGE CORPORATION 11 6.02% $13,162
    ABSOLUTE HOME MORTGAGE CORPORATION 10 6.57% $8,990
    American Mortgage & Equity Consultants, Inc. 10 6.69% $10,228
    NATIONWIDE MORTGAGE BANKERS, INC. 10 6.66% $17,129
    HOMESIDE FINANCIAL, LLC 10 6.58% $10,335
    First Heritage Mortgage, LLC 10 6.10% $18,566
    SWBC MORTGAGE CORPORATION 9 6.67% $12,690
    First Federal Bank 9 6.11% $10,847
    Wells Fargo Bank 9 5.86% $10,059
    Equity Prime Mortgage LLC 9 6.85% $12,914
    AMERICAN FINANCIAL NETWORK, INC. 9 6.58% $12,907
    Flagstar Bank, FSB 9 6.17% $12,264
    PLANET HOME LENDING, LLC 9 5.62% $12,116
    Sierra Pacific Mortgage Company, Inc. 8 6.67% $8,060
    BROKER SOLUTIONS, INC. 8 6.56% $15,349
    Armed Forces Bank 8 6.22% $10,178
    EMM LOANS LLC 8 6.09% $7,052
    HOMESPIRE MORTGAGE CORPORATION 8 5.91% $9,711
    U.S. Bank 8 6.44% $12,115
    UNION HOME MORTGAGE CORP. 8 6.56% $14,154
    Mid-Continent Funding, Inc. 8 6.48% $9,102
    FIDELITY DIRECT MORTGAGE, LLC 8 6.42% $11,928
    SOUTHERN TRUST MORTGAGE, LLC 7 6.88% $11,284
    Fulton Bank 7 6.27% $9,846
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 7 6.77% $14,132
    FIRST SAVINGS MORTGAGE CORPORATION 7 6.48% $20,045
    Ameris Bank 7 6.48% $19,330
    Residential Mortgage Solutions, Inc. 7 7.18% $9,217
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 7 6.25% $15,674
    ENVOY MORTGAGE, LTD 6 6.56% $13,811
    Strong Home Mortgage, LLC 6 5.92% $10,772
    MORTGAGE EQUITY PARTNERS LLC 6 6.69% $14,421
    CARDINAL FINANCIAL 6 6.42% $11,049
    PNC Bank 5 6.50% $7,062
    BNC National Bank 5 5.38% $13,388
    EVERETT FINANCIAL, INC. 5 6.43% $11,810
    UNIVERSAL MORTGAGE & FINANCE, INC. 5 6.93% $22,350
    M&T Bank 5 6.38% $8,390
    Barrington Bank & Trust Company, N.A. 5 6.18% $7,993
    Integrity Home Mortgage Corp 4 6.81% $23,537
    JPMorgan Chase Bank 4 5.72% $9,037
    LAKEVIEW LOAN SERVICING, LLC 4 6.06% $7,334
    CHURCHILL MORTGAGE CORPORATION 4 6.03% $16,583
    MICHIGAN MUTUAL, INC. 4 5.69% $16,649
    BAYSHORE MORTGAGE FUNDING, LLC 4 6.78% $17,598
    TJC Mortgage, Inc. 4 6.16% $12,645
    Waterstone Mortgage Corporation 4 6.09% $15,471
    HOMEAMERICAN MORTGAGE CORPORATION 4 5.38% $6,869
    INTERCOASTAL MORTGAGE COMPANY 4 6.37% $14,352
    SeaTrust Mortgage Company 3 6.42% $18,701
    STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 3 6.17% $13,879
    NATIONS DIRECT MORTGAGE, LLC 3 6.92% $13,973
    Alcova Mortgage LLC 3 6.88% $14,716
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.88% $8,603
    NORWICH COMMERCIAL GROUP, INC. 3 6.42% $16,056
    Watermark Capital, Inc. 3 6.71% $12,472
    PLAZA HOME MORTGAGE, INC. 3 6.21% $12,636
    CHERRY CREEK MORTGAGE, LLC 3 6.21% $8,030
    CONTOUR MORTGAGE CORPORATION 3 6.50% $7,822
    LAND HOME FINANCIAL SERVICES, INC. 2 6.88% $7,891
    FIRST COMMUNITY MORTGAGE, INC. 2 7.00% $13,023
    GENEVA FINANCIAL, LLC 2 6.75% $34,183
    CORNERSTONE HOME LENDING, INC. 2 6.88% $12,927
    Citizens Bank 2 7.44% $6,374
    Homesale Mortgage, LLC 2 6.44% $11,744
    LOANPAL, LLC 2 6.94% $17,652
    Magnolia Bank 2 5.94% $16,943
    MDE Home Loans, LLC 2 6.25% $6,570
    MORTGAGEONE, INC. 2 7.13% $12,882
    Century Mortgage Company DBA Century Lending Company 2 6.49% $5,560
    MY MORTGAGE, INC. 2 5.75% $19,052
    Nations Lending Corporation 2 5.75% $14,741
    Carrington Mortgage Services, LLC 2 5.69% $1,453
    NexBank 2 5.75% $11,605
    OCMBC, INC. 2 6.25% $9,550
    PIKE CREEK MORTGAGE SERVICES, INC. 2 5.81% $10,430
    RADIUS FINANCIAL GROUP INC. 2 6.44% $14,505
    RESIDENTIAL HOME FUNDING CORP. 2 6.50% $15,565
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.75% $14,229
    T2 FINANCIAL LLC 2 6.56% $11,625
    THE MORTGAGE LINK, INC. 2 6.75% $14,732
    VAN DYK MORTGAGE CORPORATION 2 6.25% $108
    Lakeview Community Capital, LLC 1 6.25% $9,131
    RELIANCE FIRST CAPITAL, LLC 1 6.50% $8,895
    V.I.P. MORTGAGE, INC. 1 6.63% $14,503
    NP, Inc. 1 7.13% $5,320
    HOMESTEAD FUNDING CORP. 1 6.63% $9,360
    NORTHPOINT MORTGAGE, INC. 1 7.50% $15,429
    Service Federal Credit Union 1 5.50% $15,300
    Capital Bank 1 7.75% $13,110
    CAPITAL CENTER, L.L.C. 1 6.75% $0
    Capital City Home Loans, LLC 1 5.75% $16,902
    SOVEREIGN LENDING GROUP INCORPORATED 1 5.75% $14,722
    NETWORK CAPITAL FUNDING CORPORATION 1 5.50% $14,783
    Stifel Bank and Trust 1 6.25% $9,101
    NATION ONE MORTGAGE CORPORATION 1 6.38% $0
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.88% $5,022
    Sunflower Bank 1 4.88% $7,886
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 1 6.13% $10,803
    CBM Mortgage, Inc. 1 6.25% $11,440
    EQUITY RESOURCES, INC. 1 7.13% $250
    TD Bank 1 7.00% $989
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.63% $4,816
    EagleBank 1 5.50% $11,228
    TIDEWATER MORTGAGE SERVICES, INC. 1 6.75% $11,138
    C & F Mortgage Corporation 1 6.25% $18,131
    TOP FLITE FINANCIAL, INC. 1 6.75% $29,798
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $6,096
    TOWNE MORTGAGE COMPANY 1 7.25% $4,767
    MILEND, INC. 1 6.75% $9,034
    MCLEAN MORTGAGE CORPORATION 1 5.75% $4,226
    United Bank 1 5.75% $1,695
    MANN FINANCIAL INC. 1 6.75% $11,820
    LIBERTY HOME MORTGAGE CORPORATION 1 6.63% $14,186
    Acre Mortgage and Financial Inc 1 5.50% $27,904
    LENOX FINANCIAL MORTGAGE CORPORATION 1 5.38% $14,384
    Franklin Loan Corporation 1 5.25% $15,988
    FBC MORTGAGE, LLC 1 5.63% $6,284
    Bank of England 1 6.25% $9,234
    Aurora Financial, LLC 1 6.63% $8,507
    Atlantic Union Bank 1 6.25% $7,686
    PREMIA MORTGAGE, LLC 1 6.75% $9,034
    PHH Mortgage Corporation 1 5.63% $18,090
    AmeriHome Mortgage Company, LLC 1 6.63% $15,959

    The top Baltimore VA lender as defined by loan originations is Mortgage Research Center, LLC, with 371 VA loans originated. Their average total fees are $9,752, which is $707 higher than the next largest lender, NAVY FEDERAL CREDIT UNION.

    The lowest fee Baltimore VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($7,152), DAS Acquisition Company, LLC ($7,340), GUARANTEED RATE, INC. ($7,541), PULTE MORTGAGE LLC ($7,768) and EAGLE HOME MORTGAGE, LLC ($8,296).

    The lowest rate Baltimore VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (5.54%), NBKC BANK (5.56%), PENNYMAC LOAN SERVICES, LLC (5.62%), DHI MORTGAGE COMPANY, LTD. (5.68%) and NVR Mortgage Finance, Inc. (5.72%).

    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.