Bellingham VA Loan Rates, Closing Costs & Stats

BELLINGHAM, WA

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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.

    Bellingham's 49 lenders originated 185 VA loans during 2023. The total origination value was $91,355,000, with an average VA loan value of $493,811.

    Bellingham VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Bellingham averaged 6.51% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Bellingham's average VA mortgage closing costs are $7,620.

    The average rate for the prior week (2024-07-12) was 6.35% and one month ago for the week of 2024-06-14, the average rate was 6.41%.

    The average rate one year ago was 6.79%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.84%.

    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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bellingham level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 22 6.72% $8,681
    UNITED WHOLESALE MORTGAGE, LLC 15 6.09% $12,958
    MOVEMENT MORTGAGE, LLC 13 6.81% $12,569
    CROSSCOUNTRY MORTGAGE, LLC 13 6.38% $9,652
    GUILD MORTGAGE COMPANY 12 6.69% $8,690
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 9 6.58% $14,538
    NAVY FEDERAL CREDIT UNION 7 5.73% $11,812
    PENNYMAC LOAN SERVICES, LLC 7 5.91% $8,559
    QUICKEN LOANS, LLC 7 6.12% $10,689
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.46% $6,814
    LOANDEPOT.COM, LLC 6 6.21% $17,340
    LEADERONE FINANCIAL CORPORATION 6 6.69% $15,471
    HOMEBRIDGE FINANCIAL SERVICES, INC. 5 6.30% $11,171
    CMG MORTGAGE, INC. 4 6.44% $15,014
    CANOPY MORTGAGE, LLC 3 6.50% $15,296
    USAA Federal Savings Bank 3 6.46% $10,980
    FREEDOM MORTGAGE CORPORATION 3 6.58% $40,991
    Boeing Employees Credit Union 2 6.63% $4,349
    First Federal Bank 2 6.06% $2,494
    GUARANTEED RATE, INC. 2 5.63% $4,810
    INSPIRE HOME LOANS INC. 2 6.13% $7,248
    NEW DAY FINANCIAL, LLC 2 6.74% $18,731
    U.S. Bank 2 5.88% $4,247
    Equity Prime Mortgage LLC 1 7.75% $6,522
    ENVOY MORTGAGE, LTD 1 6.50% $3,441
    Wells Fargo Bank 1 5.88% $12,971
    JPMorgan Chase Bank 1 6.99% $5,893
    LADERA LENDING, INC. 1 5.63% $10,236
    CORNERSTONE HOME LENDING, INC. 1 5.63% $18,938
    CALCON MUTUAL MORTGAGE LLC 1 6.25% $11,084
    BROKER SOLUTIONS, INC. 1 5.75% $10,749
    AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $9,654
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $19,637
    BAY EQUITY LLC 1 6.75% $3,940
    VILLAGE CAPITAL MORTGAGE 1 6.63% $28,175
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 7.25% $5,636
    Banner Bank 1 7.13% $5,531
    AmeriHome Mortgage Company, LLC 1 5.25% $11,646
    RESIDENTIAL BANCORP 1 5.25% $22,443
    Sierra Pacific Mortgage Company, Inc. 1 5.99% $12,150
    SUMMIT FUNDING, INC. 1 7.25% $11,930
    SUN WEST MORTGAGE COMPANY, INC. 1 6.13% $13,166
    T2 FINANCIAL LLC 1 5.13% $18,625
    The Federal Savings Bank 1 6.75% $29,854
    American Mortgage & Equity Consultants, Inc. 1 6.38% $5,760
    Flagstar Bank, FSB 1 6.63% $22,723
    First Federal Savings and Loan Association of Port Angeles 1 5.25% $11,646
    GUARANTEED RATE AFFINITY, LLC 1 5.75% $26,096
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.38% $16,338

    The top Bellingham VA lender as defined by loan originations is Mortgage Research Center, LLC, with 22 VA loans originated. Their average total fees are $8,681, which is $4,278 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Bellingham VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($8,681), GUILD MORTGAGE COMPANY ($8,690), CROSSCOUNTRY MORTGAGE, LLC ($9,652), MOVEMENT MORTGAGE, LLC ($12,569) and UNITED WHOLESALE MORTGAGE, LLC ($12,958).

    The lowest rate Bellingham VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.09%), CROSSCOUNTRY MORTGAGE, LLC (6.38%), GUILD MORTGAGE COMPANY (6.69%), Mortgage Research Center, LLC (6.72%) and MOVEMENT MORTGAGE, LLC (6.81%).

    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.