Barnstable Town VA Loan Rates, Closing Costs & Stats
BARNSTABLE TOWN, MA
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
6.31%
for the week of 2024-10-25, compared to the national average (all VA variants) of
6.14% for the same period.
Barnstable Town's average VA mortgage closing costs are $7,562.
The average rate for the prior week (2024-10-18) was
5.92% and
one month ago for the week of 2024-09-20, the
average rate was 5.72%.
The average rate one year ago was 7.34%.
For refis of the same type during the week of 2024-10-25, the average rate
was 6.17%.
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.
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%), .