Cambridge VA Loans

CAMBRIDGE-NEWTON-FRAMINGHAM, 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 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.

Cambridge's 116 lenders originated 1,493 VA loans during 2021. The total origination value was $671,585,000, with an average VA loan value of $449,823.

Cambridge VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Cambridge averaged 4.38% for the week of 2022-03-25, compared to the national average (all VA variants) of 4.399% for the same period.

The average rate for the prior week (2022-03-18) was 4.16% and one month ago for the week of 2022-02-18, the average rate was 4.08%.

The average rate one year ago was 3.25%.

For refis of the same type during the week of 2022-03-25, the average rate was 4.5%.

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

Cambridge 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 Cambridge level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 147 2.44% $5,588
Mortgage Research Center, LLC 108 2.82% $9,081
FREEDOM MORTGAGE CORPORATION 90 2.41% $3,561
PENNYMAC LOAN SERVICES, LLC 79 2.27% $7,337
GUARANTEED RATE, INC. 74 2.47% $4,741
NAVY FEDERAL CREDIT UNION 47 2.42% $9,692
CALIBER HOME LOANS, INC. 44 2.52% $3,853
The Federal Savings Bank 43 2.47% $10,256
LAKEVIEW LOAN SERVICING, LLC 39 2.46% $3,091
LOANDEPOT.COM, LLC 39 2.43% $5,610
CROSSCOUNTRY MORTGAGE, LLC 36 2.59% $8,246
USAA Federal Savings Bank 35 2.89% $8,064
UNITED WHOLESALE MORTGAGE, LLC 31 2.56% $6,070
Mr. Cooper ( Nationstar Mortgage ) 30 2.51% $4,124
Mortgage Network, Inc. 21 2.62% $6,680
NEW FED MORTGAGE, CORP. 19 2.53% $9,805
North American Savings Bank, F.S.B. 18 2.35% $4,200
NEWREZ LLC 17 2.49% $3,421
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 17 2.73% $7,456
RESIDENTIAL MORTGAGE SERVICES, INC. 17 2.42% $6,231
HANSCOM 14 3.05% $10,877
AMERICAN FINANCIAL NETWORK, INC. 12 2.59% $16,131
Leader Bank 12 2.51% $10,025
AMERISAVE MORTGAGE CORPORATION 11 2.30% $5,053
HARBORONE MORTGAGE, LLC 11 2.60% $6,251
DRAPER AND KRAMER MORTGAGE CORP. 10 2.61% $4,986
TOTAL MORTGAGE SERVICES, LLC 10 3.18% $7,454
First Federal Bank of Kansas City 10 2.41% $8,555
Barrington Bank & Trust Company, N.A. 8 2.44% $6,171
PENTAGON FEDERAL CREDIT UNION 8 2.34% $3,781
VILLAGE CAPITAL & INVESTMENT LLC 8 2.14% $10,607
NBKC BANK 8 2.48% $5,042
Wells Fargo Bank 7 2.46% $5,190
BNC National Bank 7 2.34% $8,848
MUTUAL OF OMAHA MORTGAGE, INC. 7 2.48% $8,045
Citizens Bank 6 2.71% $4,355
First Guaranty Mortgage Corporation 6 2.25% $5,390
HOME POINT FINANCIAL CORPORATION 6 2.29% $4,474
MORTGAGE EQUITY PARTNERS LLC 5 2.65% $6,955
GUARANTEED RATE AFFINITY, LLC 5 2.75% $5,991
RADIUS FINANCIAL GROUP INC. 4 2.59% $7,975
Prime Choice Funding Inc. 4 2.41% $5,163
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 2.44% $7,777
Capital Bank 4 2.25% $3,130
Paramount Bank 4 2.59% $33,984
BROKER SOLUTIONS, INC. 4 2.66% $3,433
Envision Bank 4 2.69% $9,043
Bank of England 3 2.58% $7,199
NORTHPOINT MORTGAGE, INC. 3 2.54% $7,024
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.71% $4,201
Flagstar Bank, FSB 3 2.51% $2,239
Magnolia Bank 3 2.29% $11,120
Sierra Pacific Mortgage Company, Inc. 3 2.88% $11,556
MOVEMENT MORTGAGE, LLC 3 2.54% $1,821
Ixonia Bank 3 2.58% $4,896
UNION HOME MORTGAGE CORP. 2 2.31% $2,972
HANCOCK MORTGAGE PARTNERS, LLC 2 2.69% $5,355
TJC Mortgage, Inc. 2 2.25% $2,820
GUILD MORTGAGE COMPANY 2 2.75% $17,055
ENVOY MORTGAGE, LTD 2 2.81% $7,502
KS StateBank 2 2.25% $10,277
LADERA LENDING, INC. 2 2.50% $11,894
AMERICAN PACIFIC MORTGAGE CORPORATION 2 3.00% $11,380
Santander Bank, N.A. 2 2.69% $2,907
SALEM FIVE MORTGAGE COMPANY, LLC 2 2.75% $8,759
Ross Mortgage Company, Inc. 2 2.75% $4,364
Meridian Bank Corporation 2 2.25% $5,647
Nations Lending Corporation 2 2.88% $5,661
Evolve Bank & Trust 2 3.19% $1,703
NP, Inc. 2 2.38% $6,813
NORWICH COMMERCIAL GROUP, INC. 2 3.25% $12,928
U.S. Bank 2 2.93% $12,102
ZILLOW HOME LOANS, LLC 1 2.50% $14,194
Amerifirst Financial, Inc. 1 2.75% $3,932
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 3.13% $5,835
Bangor Savings Bank 1 2.75% $3,795
CELEBRITY HOME LOANS, LLC 1 3.99% $7,857
CHURCHILL MORTGAGE CORPORATION 1 2.25% $2,849
CONTOUR MORTGAGE CORPORATION 1 2.25% $2,172
CONWAY FINANCIAL SERVICES, LLC 1 2.99% $18,163
DREW MORTGAGE ASSOCIATES, INC. 1 2.63% $4,098
EMBRACE HOME LOANS, INC. 1 2.25% $2,674
Equity Prime Mortgage LLC 1 2.88% $16,413
EQUITY RESOURCES, INC. 1 2.25% $2,360
Fall River Five Cents Savings Bank 1 2.63% $12,449
First Federal Bank 1 2.50% $4,169
First Western Trust Bank 1 2.88% $5,052
Great Plains National Bank 1 2.50% $21,134
HOMESPIRE MORTGAGE CORPORATION 1 2.75% $3,126
InterContinental Capital Group, Inc 1 2.50% $4,973
JPMorgan Chase Bank 1 3.00% $17,610
LEADERONE FINANCIAL CORPORATION 1 2.25% $9,188
LENOX FINANCIAL MORTGAGE CORPORATION 1 3.00% $18,171
Manufacturers and Traders Trust Company 1 2.25% $6,931
NBH Bank 1 2.38% $498
Network Funding, L.P. 1 3.00% $17,169
NFM, INC. 1 2.88% $9,802
NORTHERN MORTGAGE SERVICES, LLC 1 2.99% $4,895
Northpointe Bank 1 2.25% $6,272
OCEANSIDE MORTGAGE COMPANY 1 2.25% $1,895
OCMBC, INC. 1 2.38% $3,303
PLAZA HOME MORTGAGE, INC. 1 2.38% $3,366
Poli Mortgage Group, Inc. 1 2.25% $99
PREMIA MORTGAGE, LLC 1 2.25% $1,644
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.88% $3,912
Princeton Mortgage Corporation 1 2.50% $2,795
PROVINCE MORTGAGE ASSOCIATES, INC. 1 2.75% $16,599
Rockland Trust Company 1 2.13% $4,415
Service Federal Credit Union 1 2.63% $10,656
STEARNS LENDING, LLC 1 2.50% $3,190
Strong Home Mortgage, LLC 1 2.25% $625
The Washington Trust Company, of Westerly 1 2.38% $2,958
TOP FLITE FINANCIAL, INC. 1 2.88% $12,676
VAN DYK MORTGAGE CORPORATION 1 2.25% $464
Watermark Capital, Inc. 1 2.25% $1,392
ALLIED MORTGAGE GROUP, INC. 1 2.50% $4,126

The top Cambridge VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 147 VA loans originated. Their average total fees are $5,588, which is $3,493 lower than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Cambridge VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($3,091), NEWREZ LLC ($3,421), FREEDOM MORTGAGE CORPORATION ($3,561), CALIBER HOME LOANS, INC. ($3,853) and Mr. Cooper ( Nationstar Mortgage ) ($4,124).

The lowest rate Cambridge VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.27%), AMERISAVE MORTGAGE CORPORATION (2.30%), North American Savings Bank, F.S.B. (2.35%), FREEDOM MORTGAGE CORPORATION (2.41%) and First Federal Bank of Kansas City (2.41%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Cambridge (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 $529,000 (5.9%) $852,362 (3.9%) 1.95 6,241
2018-02-01 $542,673 (4.5%) $872,304 (3.0%) 1.96 6,214
2018-03-01 $569,900 (5.6%) $898,570 (4.3%) 1.97 6,803
2018-04-01 $579,000 (5.4%) $894,248 (2.8%) 1.94 7,979
2018-05-01 $579,948 (5.5%) $891,075 (3.5%) 1.93 9,070
2018-06-01 $575,000 (4.6%) $870,299 (2.3%) 1.92 10,569
2018-07-01 $556,998 (1.5%) $844,756 (1.1%) 1.86 10,475
2018-08-01 $547,958 (4.0%) $818,420 (0.5%) 1.83 10,501
2018-09-01 $549,000 (3.6%) $801,335 (-1.2%) 1.84 11,776
2018-10-01 $549,000 (1.8%) $794,856 (-3.4%) 1.84 12,025
2018-11-01 $539,450 (0.0%) $793,441 (-3.8%) 1.81 11,348
2018-12-01 $535,000 (1.1%) $794,612 (-5.6%) 1.83 8,996
2019-01-01 $534,450 (1.0%) $800,270 (-6.1%) 1.84 7,818
2019-02-01 $549,450 (1.3%) $844,504 (-3.2%) 1.84 7,592
2019-03-01 $571,214 (0.2%) $875,287 (-2.6%) 1.86 8,263
2019-04-01 $599,700 (3.6%) $905,908 (1.3%) 1.89 9,134
2019-05-01 $599,950 (3.5%) $916,397 (2.8%) 1.85 10,323
2019-06-01 $599,900 (4.3%) $914,904 (5.1%) 1.85 11,544
2019-07-01 $599,900 (7.7%) $905,719 (7.2%) 1.86 11,082
2019-08-01 $591,329 (7.9%) $885,926 (8.3%) 1.86 11,110
2019-09-01 $579,450 (5.6%) $865,717 (8.0%) 1.84 11,377
2019-10-01 $586,250 (6.8%) $880,789 (10.8%) 1.87 11,535
2019-11-01 $589,900 (9.4%) $902,980 (13.8%) 1.90 10,150
2019-12-01 $587,000 (9.7%) $911,445 (14.7%) 1.96 7,353
2020-01-01 $582,500 (9.0%) $925,593 (15.7%) 1.94 6,053
2020-02-01 $599,900 (9.2%) $968,283 (14.7%) 1.94 5,960
2020-03-01 $629,900 (10.3%) $976,960 (11.6%) 1.97 6,860
2020-04-01 $616,500 (2.8%) $939,971 (3.8%) 1.92 6,710
2020-05-01 $629,900 (5.0%) $940,920 (2.7%) 1.91 7,475
2020-06-01 $654,500 (9.1%) $996,174 (8.9%) 1.91 8,057
2020-07-01 $675,000 (12.5%) $1,029,426 (13.7%) 1.93 7,646
2020-08-01 $679,000 (14.8%) $1,040,454 (17.4%) 1.94 7,382
2020-09-01 $677,000 (16.8%) $1,033,568 (19.4%) 1.93 7,760
2020-10-01 $669,000 (14.1%) $1,030,994 (17.1%) 1.91 8,156
2020-11-01 $654,500 (11.0%) $1,032,525 (14.4%) 1.87 7,347
2020-12-01 $649,000 (10.6%) $1,014,973 (11.4%) 1.90 5,491
2021-01-01 $660,000 (13.3%) $1,070,483 (15.7%) 1.94 4,241
2021-02-01 $679,900 (13.3%) $1,121,272 (15.8%) 1.96 3,996
2021-03-01 $682,000 (8.3%) $1,135,065 (16.2%) 1.91 4,394
2021-04-01 $699,000 (13.4%) $1,192,587 (26.9%) 1.88 5,015
2021-05-01 $699,900 (11.1%) $1,192,755 (26.8%) 1.84 5,108
2021-06-01 $699,450 (6.9%) $1,152,833 (15.7%) 1.82 6,032
2021-07-01 $677,450 (0.4%) $1,126,929 (9.5%) 1.76 5,888
2021-08-01 $650,000 (-4.3%) $1,078,666 (3.7%) 1.71 5,797
2021-09-01 $674,600 (-0.4%) $1,062,031 (2.8%) 1.78 6,287
2021-10-01 $689,000 (3.0%) $1,070,318 (3.8%) 1.81 6,224
2021-11-01 $677,450 (3.5%) $1,086,661 (5.2%) 1.79 5,184
2021-12-01 $694,500 (7.0%) $1,146,193 (12.9%) 1.85 3,715
2022-01-01 $724,900 (9.8%) $1,225,745 (14.5%) 1.93 2,826
Cambridge's median listing price for 2022-01-01 was $724,900, a difference of $64,900 (9.8%) versus the prior year and $30,400 versus the prior month.

Cambridge's median listing price comes in at 193% of the national average.

Cambridge's average listing price for 2022-01-01 was $1,225,745, a difference of $155,262 (14.5%) versus the prior year and $79,552 versus the prior month.

For the 2022-01-01 period, Cambridge had 2,826 MLS listings, a difference of -889 listings (-24%) versus the prior month and -1,415 listings (-33%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Cambridge (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 78 days 2,015 sqft
2018-02-01 68 days 2,035 sqft
2018-03-01 38 days 2,063 sqft
2018-04-01 31 days 2,044 sqft
2018-05-01 30 days 2,064 sqft
2018-06-01 33 days 2,056 sqft
2018-07-01 44 days 2,043 sqft
2018-08-01 47 days 2,021 sqft
2018-09-01 45 days 2,000 sqft
2018-10-01 45 days 1,977 sqft
2018-11-01 52 days 1,959 sqft
2018-12-01 66 days 1,952 sqft
2019-01-01 73 days 1,926 sqft
2019-02-01 62 days 1,950 sqft
2019-03-01 43 days 1,995 sqft
2019-04-01 34 days 2,038 sqft
2019-05-01 34 days 2,053 sqft
2019-06-01 37 days 2,060 sqft
2019-07-01 49 days 2,035 sqft
2019-08-01 57 days 2,012 sqft
2019-09-01 51 days 1,984 sqft
2019-10-01 48 days 1,984 sqft
2019-11-01 57 days 1,984 sqft
2019-12-01 74 days 1,949 sqft
2020-01-01 80 days 1,930 sqft
2020-02-01 50 days 1,983 sqft
2020-03-01 32 days 2,014 sqft
2020-04-01 45 days 2,001 sqft
2020-05-01 53 days 2,016 sqft
2020-06-01 34 days 1,991 sqft
2020-07-01 37 days 1,912 sqft
2020-08-01 37 days 1,864 sqft
2020-09-01 33 days 1,746 sqft
2020-10-01 32 days 1,707 sqft
2020-11-01 46 days 1,701 sqft
2020-12-01 60 days 1,695 sqft
2021-01-01 64 days 1,667 sqft
2021-02-01 37 days 1,674 sqft
2021-03-01 25 days 1,682 sqft
2021-04-01 22 days 1,668 sqft
2021-05-01 22 days 1,692 sqft
2021-06-01 22 days 1,702 sqft
2021-07-01 30 days 1,707 sqft
2021-08-01 31 days 1,712 sqft
2021-09-01 29 days 1,691 sqft
2021-10-01 30 days 1,661 sqft
2021-11-01 40 days 1,631 sqft
2021-12-01 52 days 1,650 sqft
2022-01-01 58 days 1,658 sqft
Cambridge's median listing age (time on market) for 2022-01-01 was 58 days. This is -9% shorter than the same period one year ago.

Cambridge's median square footage for active listings during the 2022-01-01 period was 1,658 sqft. One year prior, the average listing was 1,667 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.