Barnstable Town VA Loan Rates, Closing Costs & Stats

BARNSTABLE TOWN, MA

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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.

    Barnstable Town's 36 lenders originated 91 VA loans during 2023. The total origination value was $48,215,000, with an average VA loan value of $529,835.

    Barnstable Town VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Barnstable Town averaged 6.57% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Barnstable Town's average VA mortgage closing costs are $7,562.

    The average rate for the prior week (2024-07-12) was 6.41% and one month ago for the week of 2024-06-14, the average rate was 6.37%.

    The average rate one year ago was 6.55%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.33%.

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

    Barnstable Town 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 Barnstable Town level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 12 5.95% $20,641
    LOANDEPOT.COM, LLC 11 6.06% $18,934
    Mortgage Research Center, LLC 10 6.73% $12,289
    The Federal Savings Bank 5 5.98% $26,604
    UNITED WHOLESALE MORTGAGE, LLC 4 6.25% $15,443
    NAVY FEDERAL CREDIT UNION 3 6.25% $9,479
    USAA Federal Savings Bank 3 5.63% $9,431
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.63% $17,738
    Flagstar Bank, FSB 2 6.22% $8,558
    GUARANTEED RATE AFFINITY, LLC 2 6.56% $11,353
    GUARANTEED RATE, INC. 2 6.44% $30,765
    RADIUS FINANCIAL GROUP INC. 2 6.13% $30,375
    RELIANCE FIRST CAPITAL, LLC 2 6.19% $13,188
    Shamrock Home Loans, Inc. 2 6.50% $10,198
    MOVEMENT MORTGAGE, LLC 2 6.25% $14,466
    CARDINAL FINANCIAL 2 6.75% $14,944
    Service Federal Credit Union 1 7.13% $2,956
    Sierra Pacific Mortgage Company, Inc. 1 6.99% $19,658
    Strong Home Mortgage, LLC 1 5.25% $5,615
    Academy Bank 1 6.13% $11,081
    VILLAGE CAPITAL MORTGAGE 1 5.25% $16,949
    CROSSCOUNTRY MORTGAGE, LLC 1 6.63% $18,567
    DRAPER AND KRAMER MORTGAGE CORP. 1 5.50% $14,697
    EQUITY RESOURCES, INC. 1 7.49% $3,173
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $6,273
    FIRST COMMUNITY MORTGAGE, INC. 1 7.50% $13,744
    FREEDOM MORTGAGE CORPORATION 1 6.75% $31,161
    GUILD MORTGAGE COMPANY 1 6.13% $14,038
    Keystone Funding, Inc. 1 6.99% $15,316
    Magnolia Bank 1 6.50% $26,583
    Mid-Continent Funding, Inc. 1 6.75% $7,448
    NBKC BANK 1 5.75% $25,780
    NEWREZ LLC 1 7.13% $14,773
    Paramount Residential Mortgage Group, Inc. 1 5.75% $8,775
    PENNYMAC LOAN SERVICES, LLC 1 7.13% $6,220
    Presidential Bank, FSB 1 6.13% $21,918

    The top Barnstable Town VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 12 VA loans originated. Their average total fees are $20,641, which is $1,706 higher than the next largest lender, LOANDEPOT.COM, LLC.

    The lowest fee Barnstable Town VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($12,289), LOANDEPOT.COM, LLC ($18,934), QUICKEN LOANS, LLC ($20,641), .

    The lowest rate Barnstable Town VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.95%), LOANDEPOT.COM, LLC (6.06%), Mortgage Research Center, LLC (6.73%), .

    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.