Bellingham VA Loans

BELLINGHAM, WA

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 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.

Bellingham's 82 lenders originated 796 VA loans during 2021. The total origination value was $308,050,000, with an average VA loan value of $386,997.

Bellingham VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Bellingham averaged 5.4% for the week of 2022-08-05, compared to the national average (all VA variants) of 5.013% for the same period.

The average rate for the prior week (2022-07-29) was 5.45% and one month ago for the week of 2022-07-01, the average rate was 5.58%.

The average rate one year ago was 3.16%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.03%.

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

Bellingham VA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bellingham level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
CALIBER HOME LOANS, INC. 115 2.58% $7,863
Umpqua Bank 65 2.66% $8,519
QUICKEN LOANS, LLC 54 2.43% $8,261
Mortgage Research Center, LLC 47 2.78% $8,681
FREEDOM MORTGAGE CORPORATION 44 2.38% $3,752
PENNYMAC LOAN SERVICES, LLC 31 2.31% $7,079
NAVY FEDERAL CREDIT UNION 27 2.42% $4,294
GUILD MORTGAGE COMPANY 23 2.54% $6,229
Bank of the Pacific 22 2.32% $3,631
UNITED WHOLESALE MORTGAGE, LLC 19 2.48% $6,519
HOME POINT FINANCIAL CORPORATION 16 2.40% $6,601
USAA Federal Savings Bank 15 2.75% $7,392
NEW DAY FINANCIAL, LLC 15 2.79% $12,295
HOMEBRIDGE FINANCIAL SERVICES, INC. 14 2.54% $8,067
LOANDEPOT.COM, LLC 12 2.36% $5,374
Wells Fargo Bank 12 2.67% $4,767
Banner Bank 10 2.41% $5,867
NEWREZ LLC 10 2.65% $4,359
Mr. Cooper ( Nationstar Mortgage ) 10 2.53% $5,351
BROKER SOLUTIONS, INC. 10 2.72% $5,968
LAKEVIEW LOAN SERVICING, LLC 10 2.42% $2,168
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 2.97% $11,237
Peoples Bank 8 2.45% $4,745
CROSSCOUNTRY MORTGAGE, LLC 7 2.88% $9,328
MOVEMENT MORTGAGE, LLC 6 2.98% $8,546
AMERICAN FINANCIAL NETWORK, INC. 5 2.48% $5,957
VILLAGE CAPITAL & INVESTMENT LLC 5 2.45% $2,812
PENTAGON FEDERAL CREDIT UNION 5 2.45% $4,099
CMG MORTGAGE, INC. 4 2.38% $8,346
The Federal Savings Bank 4 2.38% $13,313
NBKC BANK 4 2.47% $2,687
NATIONS DIRECT MORTGAGE, LLC 4 2.50% $3,943
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 2.78% $5,743
GUARANTEED RATE, INC. 4 2.25% $3,729
PLANET HOME LENDING, LLC 4 2.59% $7,356
Heritage Bank 3 2.67% $9,671
AMERISAVE MORTGAGE CORPORATION 3 2.54% $9,157
First Guaranty Mortgage Corporation 3 2.25% $2,857
Carrington Mortgage Services, LLC 3 2.88% $4,684
SOVEREIGN LENDING GROUP INCORPORATED 3 2.38% $9,359
CANOPY MORTGAGE, LLC 3 2.83% $7,027
AMERICAN FINANCIAL RESOURCES, INC. 3 2.58% $3,397
NP, Inc. 3 2.42% $2,972
MUTUAL OF OMAHA MORTGAGE, INC. 3 3.13% $4,617
CITYWIDE HOME LOANS, LLC 2 2.25% $2,719
AMERICAN FINANCING CORPORATION 2 2.25% $1,286
Barrington Bank & Trust Company, N.A. 2 2.69% $10,918
BAY EQUITY LLC 2 3.06% $9,117
BNC National Bank 2 2.19% $7,220
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 2.81% $8,432
FINANCE OF AMERICA MORTGAGE LLC 2 2.63% $8,985
Mid-Continent Funding, Inc. 2 2.69% $7,886
NETWORK CAPITAL FUNDING CORPORATION 2 2.69% $3,652
North American Savings Bank, F.S.B. 2 2.25% $2,405
Paramount Residential Mortgage Group, Inc. 2 2.75% $5,613
SUN WEST MORTGAGE COMPANY, INC. 2 2.50% $4,869
U.S. Bank 2 2.81% $8,978
NOVA FINANCIAL & INVESTMENT CORPORATION 1 2.63% $2,846
LENDUS, LLC 1 2.25% $4,338
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.63% $21,472
LEADERONE FINANCIAL CORPORATION 1 2.88% $23,702
Lakeview Community Capital, LLC 1 2.25% $5,070
InterContinental Capital Group, Inc 1 2.50% $6,513
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 2.63% $13,347
PREMIER MORTGAGE RESOURCES, L.L.C. 1 3.13% $2,840
ENVOY MORTGAGE, LTD 1 2.50% $3,348
CORNERSTONE HOME LENDING, INC. 1 2.75% $0
SOUTHWEST STAGE FUNDING, LLC 1 2.75% $3,459
Columbia State Bank 1 2.75% $3,568
ACADEMY MORTGAGE CORPORATION 1 2.25% $13,883
1st Security Bank of Washington 1 3.00% $7,160
TJC Mortgage, Inc. 1 2.25% $1,551
Truist Bank 1 2.75% $2,021
Capital Bank 1 2.25% $2,580
UNION HOME MORTGAGE CORP. 1 2.25% $1,910
UNITED MORTGAGE CORP. 1 2.25% $24,712
BKCO MORTGAGE, LLC 1 2.99% $5,330
Nations Lending Corporation 1 2.88% $13,300
Bank of England 1 2.25% $6,614
Manufacturers and Traders Trust Company 1 2.88% $3,159
Magnolia Bank 1 3.25% $7,413
Wyndham Capital Mortgage, Inc. 1 2.50% $1,680

The top Bellingham VA lender as defined by loan originations is CALIBER HOME LOANS, INC., with 115 VA loans originated. Their average total fees are $7,863, which is $656 lower than the next largest lender, Umpqua Bank.

The lowest fee Bellingham VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,168), Bank of the Pacific ($3,631), FREEDOM MORTGAGE CORPORATION ($3,752), NAVY FEDERAL CREDIT UNION ($4,294) and NEWREZ LLC ($4,359).

The lowest rate Bellingham VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.31%), Bank of the Pacific (2.32%), LOANDEPOT.COM, LLC (2.36%), FREEDOM MORTGAGE CORPORATION (2.38%) and HOME POINT FINANCIAL CORPORATION (2.40%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Bellingham (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 $419,944 (7.1%) $516,333 (-4.8%) 1.55 459
2018-02-01 $425,000 (9.2%) $491,602 (-9.1%) 1.53 446
2018-03-01 $425,000 (8.4%) $498,923 (-7.0%) 1.47 463
2018-04-01 $437,000 (10.6%) $509,728 (-4.9%) 1.47 488
2018-05-01 $444,950 (12.1%) $530,279 (0.7%) 1.48 535
2018-06-01 $449,000 (12.5%) $538,308 (2.5%) 1.50 596
2018-07-01 $437,000 (4.1%) $531,515 (-1.1%) 1.46 631
2018-08-01 $422,500 (1.3%) $523,910 (-2.1%) 1.41 663
2018-09-01 $429,000 (4.6%) $533,600 (0.4%) 1.43 680
2018-10-01 $425,000 (1.4%) $557,257 (6.3%) 1.42 667
2018-11-01 $419,250 (1.0%) $551,381 (7.0%) 1.41 642
2018-12-01 $414,900 (0.0%) $553,389 (8.6%) 1.42 576
2019-01-01 $415,950 (-1.0%) $559,790 (8.4%) 1.43 503
2019-02-01 $427,000 (0.5%) $565,661 (15.1%) 1.43 504
2019-03-01 $429,386 (1.0%) $564,858 (13.2%) 1.40 531
2019-04-01 $432,450 (-1.0%) $567,291 (11.3%) 1.36 573
2019-05-01 $447,500 (0.6%) $578,077 (9.0%) 1.38 620
2019-06-01 $450,000 (0.2%) $573,371 (6.5%) 1.39 680
2019-07-01 $449,475 (2.9%) $566,532 (6.6%) 1.40 716
2019-08-01 $449,429 (6.4%) $561,565 (7.2%) 1.41 745
2019-09-01 $449,929 (4.9%) $561,629 (5.3%) 1.43 764
2019-10-01 $448,000 (5.4%) $559,041 (0.3%) 1.43 863
2019-11-01 $450,000 (7.3%) $562,678 (2.1%) 1.45 776
2019-12-01 $439,000 (5.8%) $549,591 (-0.7%) 1.46 662
2020-01-01 $444,900 (7.0%) $576,568 (3.0%) 1.48 541
2020-02-01 $449,750 (5.3%) $565,573 (0.0%) 1.45 511
2020-03-01 $447,000 (4.1%) $561,702 (-0.6%) 1.40 558
2020-04-01 $441,950 (2.2%) $551,900 (-2.7%) 1.38 618
2020-05-01 $445,000 (-0.6%) $547,590 (-5.3%) 1.35 655
2020-06-01 $454,950 (1.1%) $571,943 (-0.3%) 1.33 677
2020-07-01 $471,975 (5.0%) $594,547 (5.0%) 1.35 675
2020-08-01 $465,000 (3.5%) $587,521 (4.6%) 1.33 613
2020-09-01 $459,900 (2.2%) $579,529 (3.2%) 1.31 558
2020-10-01 $467,500 (4.4%) $602,698 (7.8%) 1.34 515
2020-11-01 $447,950 (-0.5%) $596,814 (6.1%) 1.28 341
2020-12-01 $449,500 (2.4%) $585,324 (6.5%) 1.32 302
2021-01-01 $439,900 (-1.1%) $604,906 (4.9%) 1.29 243
2021-02-01 $437,450 (-2.7%) $627,126 (10.9%) 1.26 245
2021-03-01 $474,450 (6.1%) $643,675 (14.6%) 1.33 240
2021-04-01 $499,450 (13.0%) $678,259 (22.9%) 1.34 240
2021-05-01 $525,000 (18.0%) $721,166 (31.7%) 1.38 260
2021-06-01 $545,000 (19.8%) $744,865 (30.2%) 1.42 288
2021-07-01 $591,950 (25.4%) $822,420 (38.3%) 1.54 258
2021-08-01 $625,000 (34.4%) $829,653 (41.2%) 1.64 279
2021-09-01 $624,925 (35.9%) $837,515 (44.5%) 1.64 270
2021-10-01 $600,000 (28.3%) $803,688 (33.4%) 1.58 269
2021-11-01 $619,500 (38.3%) $807,039 (35.2%) 1.63 226
2021-12-01 $599,900 (33.5%) $823,382 (40.7%) 1.60 154
2022-01-01 $579,900 (31.8%) $877,449 (45.1%) 1.55 116
2022-02-01 $663,500 (51.7%) $945,176 (50.7%) 1.69 121
2022-03-01 $649,750 (37.0%) $917,217 (42.5%) 1.60 157
2022-04-01 $649,950 (30.1%) $862,110 (27.1%) 1.53 207
2022-05-01 $692,500 (31.9%) $873,853 (21.2%) 1.55 294
2022-06-01 $682,000 (25.1%) $835,490 (12.2%) 1.52 420
Bellingham's median listing price for 2022-06-01 was $682,000, a difference of $137,000 (25.1%) versus the prior year and $-10,500 versus the prior month.

Bellingham's median listing price comes in at 152% of the national average.

Bellingham's average listing price for 2022-06-01 was $835,490, a difference of $90,625 (12.2%) versus the prior year and $-38,363 versus the prior month.

For the 2022-06-01 period, Bellingham had 420 MLS listings, a difference of 126 listings (43%) versus the prior month and 132 listings (46%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Bellingham (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 89 days 1,901 sqft
2018-02-01 83 days 1,905 sqft
2018-03-01 51 days 1,870 sqft
2018-04-01 46 days 1,890 sqft
2018-05-01 41 days 1,938 sqft
2018-06-01 39 days 1,960 sqft
2018-07-01 45 days 1,942 sqft
2018-08-01 44 days 1,880 sqft
2018-09-01 51 days 1,870 sqft
2018-10-01 58 days 1,941 sqft
2018-11-01 61 days 1,889 sqft
2018-12-01 72 days 1,826 sqft
2019-01-01 76 days 1,831 sqft
2019-02-01 69 days 1,917 sqft
2019-03-01 58 days 1,880 sqft
2019-04-01 33 days 1,842 sqft
2019-05-01 42 days 1,894 sqft
2019-06-01 44 days 1,920 sqft
2019-07-01 50 days 1,936 sqft
2019-08-01 52 days 1,922 sqft
2019-09-01 56 days 1,924 sqft
2019-10-01 63 days 1,893 sqft
2019-11-01 70 days 1,910 sqft
2019-12-01 82 days 1,839 sqft
2020-01-01 98 days 1,834 sqft
2020-02-01 98 days 1,832 sqft
2020-03-01 54 days 1,836 sqft
2020-04-01 45 days 1,791 sqft
2020-05-01 56 days 1,820 sqft
2020-06-01 62 days 1,825 sqft
2020-07-01 51 days 1,874 sqft
2020-08-01 51 days 1,824 sqft
2020-09-01 50 days 1,780 sqft
2020-10-01 50 days 1,824 sqft
2020-11-01 63 days 1,717 sqft
2020-12-01 78 days 1,636 sqft
2021-01-01 97 days 1,565 sqft
2021-02-01 74 days 1,590 sqft
2021-03-01 50 days 1,635 sqft
2021-04-01 44 days 1,640 sqft
2021-05-01 35 days 1,702 sqft
2021-06-01 33 days 1,762 sqft
2021-07-01 35 days 1,850 sqft
2021-08-01 36 days 1,896 sqft
2021-09-01 36 days 1,939 sqft
2021-10-01 35 days 1,899 sqft
2021-11-01 40 days 1,895 sqft
2021-12-01 51 days 1,860 sqft
2022-01-01 46 days 1,701 sqft
2022-02-01 31 days 1,941 sqft
2022-03-01 26 days 1,868 sqft
2022-04-01 23 days 1,857 sqft
2022-05-01 23 days 1,893 sqft
2022-06-01 24 days 1,862 sqft
Bellingham's median listing age (time on market) for 2022-06-01 was 24 days. This is -29% shorter than the same period one year ago.

Bellingham's median square footage for active listings during the 2022-06-01 period was 1,862 sqft. One year prior, the average listing was 1,762 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.