Berlin VA Loan Rates, Closing Costs & Stats

Berlin, NH

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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.

    Berlin's 25 lenders originated 67 VA loans during 2022. The total origination value was $14,695,000, with an average VA loan value of $219,328.

    Berlin VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Berlin averaged 6.53% for the week of 2023-12-08, compared to the national average (all VA variants) of 6.544% for the same period.

    Berlin's average VA mortgage closing costs are $3,999.

    The average rate for the prior week (2023-12-01) was 6.63% and one month ago for the week of 2023-11-03, the average rate was 7.16%.

    The average rate one year ago was 6.13%.

    For refis of the same type during the week of 2023-12-08, the average rate was 6.54%.

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

    Berlin 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 Berlin level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 23 5.28% $3,133
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 5.56% $3,334
    NAVY FEDERAL CREDIT UNION 4 3.75% $9,497
    QUICKEN LOANS, LLC 3 5.20% $7,650
    NEW DAY FINANCIAL, LLC 3 4.67% $4,049
    UNITED WHOLESALE MORTGAGE, LLC 3 5.34% $7,199
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 4.56% $7,187
    PENNYMAC LOAN SERVICES, LLC 2 3.00% $2,310
    USAA Federal Savings Bank 2 4.31% $4,002
    MOVEMENT MORTGAGE, LLC 1 3.75% $1,540
    Mr. Cooper ( Nationstar Mortgage ) 1 4.63% $2,364
    North American Savings Bank, F.S.B. 1 2.75% $8,660
    NORWICH COMMERCIAL GROUP, INC. 1 6.13% $9,476
    PENTAGON FEDERAL CREDIT UNION 1 2.38% $2,348
    Union Bank 1 4.63% $3,908
    American Mortgage & Equity Consultants, Inc. 1 5.75% $9,668
    Wells Fargo Bank 1 3.38% $2,908
    AMERISAVE MORTGAGE CORPORATION 1 2.75% $7,690
    Bank of New Hampshire 1 4.50% $2,625
    Barrington Bank & Trust Company, N.A. 1 3.13% $2,257
    Carrington Mortgage Services, LLC 1 5.63% $13,078
    CROSSCOUNTRY MORTGAGE, LLC 1 3.63% $516
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.13% $0
    Lakeview Community Capital, LLC 1 4.75% $3,879
    LAKEVIEW LOAN SERVICING, LLC 1 2.75% $1,873

    The top Berlin VA lender as defined by loan originations is Mortgage Research Center, LLC, with 23 VA loans originated. Their average total fees are $3,133, which is $202 lower than the next largest lender, PRIMELENDING, A PLAINSCAPITAL COMPANY.

    The lowest fee Berlin VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,133), .

    The lowest rate Berlin VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (5.28%), .

    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.