Cambridge VA Loan Rates, Closing Costs & Stats

Cambridge, OH

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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.

    Cambridge's 15 lenders originated 39 VA loans during 2023. The total origination value was $8,165,000, with an average VA loan value of $209,359.

    Cambridge VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Cambridge averaged 7.36% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Cambridge's average VA mortgage closing costs are $5,016.

    The average rate for the prior week (2024-04-12) was 7.09% and one month ago for the week of 2024-03-15, the average rate was 6.96%.

    The average rate one year ago was 6.25%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 11 6.56% $3,710
    QUICKEN LOANS, LLC 5 6.30% $9,873
    The Huntington National Bank 4 7.03% $3,556
    NAVY FEDERAL CREDIT UNION 2 5.63% $3,571
    UNITED WHOLESALE MORTGAGE, LLC 2 6.12% $12,361
    CARDINAL FINANCIAL 1 7.25% $24,202
    POLARIS HOME FUNDING CORP. 1 6.75% $6,497
    RAPID MORTGAGE COMPANY 1 7.38% $4,712
    The Union Bank Company 1 7.13% $3,177
    Truist 1 6.20% $2,430
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $2,107
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.63% $7,084
    JPMorgan Chase Bank 1 5.25% $3,962
    LIBERTY HOME MORTGAGE CORPORATION 1 7.13% $4,035
    NEW DAY FINANCIAL, LLC 1 7.75% $7,288

    The top Cambridge VA lender as defined by loan originations is Mortgage Research Center, LLC, with 11 VA loans originated. Their average total fees are $3,710, which is $6,163 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Cambridge VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,710), .

    The lowest rate Cambridge VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.56%), .

    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 $120,925 (15.8%) $173,800 (20.1%) 0.00 137
    2018-02-01 $109,000 (-4.3%) $168,758 (14.5%) 0.00 145
    2018-03-01 $107,500 (-3.5%) $168,398 (13.1%) 0.00 144
    2018-04-01 $109,700 (-7.4%) $177,276 (13.4%) 0.00 145
    2018-05-01 $122,475 (1.9%) $186,050 (18.3%) 0.00 150
    2018-06-01 $111,450 (-4.8%) $182,630 (15.7%) 0.00 146
    2018-07-01 $125,475 (14.2%) $181,820 (18.3%) 0.00 158
    2018-08-01 $125,425 (7.2%) $182,235 (12.6%) 0.00 164
    2018-09-01 $127,400 (6.3%) $180,973 (6.2%) 0.00 167
    2018-10-01 $137,175 (19.3%) $181,618 (5.5%) 0.00 175
    2018-11-01 $119,975 (9.2%) $176,040 (7.5%) 0.00 172
    2018-12-01 $118,000 (5.0%) $174,154 (2.7%) 0.00 154
    2019-01-01 $126,925 (5.0%) $176,438 (1.5%) 0.00 145
    2019-02-01 $137,400 (26.1%) $182,341 (8.1%) 0.00 134
    2019-03-01 $139,900 (30.1%) $192,667 (14.4%) 0.00 130
    2019-04-01 $140,550 (28.1%) $203,707 (14.9%) 0.00 128
    2019-05-01 $149,825 (22.3%) $218,105 (17.2%) 0.00 131
    2019-06-01 $145,000 (30.1%) $209,848 (14.9%) 0.00 161
    2019-07-01 $140,550 (12.0%) $207,638 (14.2%) 0.00 166
    2019-08-01 $142,900 (13.9%) $209,942 (15.2%) 0.00 172
    2019-09-01 $142,900 (12.2%) $213,880 (18.2%) 0.00 179
    2019-10-01 $141,200 (2.9%) $218,857 (20.5%) 0.00 183
    2019-11-01 $142,900 (19.1%) $232,216 (31.9%) 0.00 174
    2019-12-01 $136,325 (15.5%) $219,872 (26.3%) 0.00 158
    2020-01-01 $139,900 (10.2%) $233,264 (32.2%) 0.00 124
    2020-02-01 $139,900 (1.8%) $249,337 (36.7%) 0.00 105
    2020-03-01 $158,250 (13.1%) $251,893 (30.7%) 0.00 91
    2020-04-01 $159,900 (13.8%) $250,726 (23.1%) 0.00 94
    2020-05-01 $165,000 (10.1%) $261,343 (19.8%) 0.00 93
    2020-06-01 $142,400 (-1.8%) $233,772 (11.4%) 0.00 98
    2020-07-01 $141,950 (1.0%) $224,689 (8.2%) 0.00 97
    2020-08-01 $122,450 (-14.3%) $197,497 (-5.9%) 0.00 94
    2020-09-01 $131,225 (-8.2%) $198,236 (-7.3%) 0.00 97
    2020-10-01 $147,000 (4.1%) $196,885 (-10.0%) 0.00 99
    2020-11-01 $149,675 (4.7%) $193,791 (-16.6%) 0.00 90
    2020-12-01 $167,050 (22.5%) $198,390 (-9.8%) 0.00 78
    2021-01-01 $174,000 (24.4%) $199,377 (-14.5%) 0.00 65
    2021-02-01 $181,175 (29.5%) $204,358 (-18.0%) 0.00 60
    2021-03-01 $172,200 (8.8%) $213,830 (-15.1%) 0.00 51
    2021-04-01 $172,450 (7.9%) $227,090 (-9.4%) 0.00 45
    2021-05-01 $189,900 (15.1%) $243,761 (-6.7%) 0.00 37
    2021-06-01 $161,175 (13.2%) $235,026 (0.5%) 0.00 44
    2021-07-01 $194,900 (37.3%) $334,905 (49.1%) 0.00 42
    2021-08-01 $185,950 (51.9%) $315,741 (59.9%) 0.00 53
    2021-09-01 $176,950 (34.8%) $298,437 (50.6%) 0.00 65
    2021-10-01 $184,900 (25.8%) $294,481 (49.6%) 0.00 69
    2021-11-01 $179,975 (20.2%) $286,687 (47.9%) 0.00 77
    2021-12-01 $181,250 (8.5%) $296,874 (49.6%) 0.00 66
    2022-01-01 $179,999 (3.5%) $310,371 (55.7%) 0.00 59
    2022-02-01 $163,950 (-9.5%) $295,247 (44.5%) 0.00 58
    2022-03-01 $219,250 (27.3%) $301,478 (41.0%) 0.00 61
    2022-04-01 $204,950 (18.9%) $300,317 (32.3%) 0.00 57
    2022-05-01 $226,175 (19.1%) $315,960 (29.6%) 0.00 51
    2022-06-01 $195,175 (21.1%) $285,095 (21.3%) 0.00 60
    2022-07-01 $170,000 (-12.8%) $270,013 (-19.4%) 0.00 72
    2022-08-01 $180,900 (-2.7%) $272,123 (-13.8%) 0.00 82
    2022-09-01 $202,172 (14.3%) $284,659 (-4.6%) 0.00 99
    2022-10-01 $199,900 (8.1%) $282,095 (-4.2%) 0.00 90
    2022-11-01 $204,700 (13.7%) $237,705 (-17.1%) 0.00 83
    2022-12-01 $197,250 (8.8%) $225,983 (-23.9%) 0.00 82
    2023-01-01 $198,600 (10.3%) $223,863 (-27.9%) 0.00 80
    2023-02-01 $225,000 (37.2%) $240,416 (-18.6%) 0.00 71
    2023-03-01 $226,111 (3.1%) $249,639 (-17.2%) 0.00 71
    2023-04-01 $219,900 (7.3%) $250,026 (-16.8%) 0.00 76
    2023-05-01 $210,625 (-6.9%) $247,195 (-21.8%) 0.00 62
    2023-06-01 $208,750 (7.0%) $256,745 (-9.9%) 0.00 53
    2023-07-01 $199,700 (17.5%) $287,159 (6.4%) 0.00 48
    2023-08-01 $161,700 (-10.6%) $281,791 (3.6%) 0.00 50
    2023-09-01 $179,950 (-11.0%) $302,466 (6.3%) 0.00 54
    2023-10-01 $185,000 (-7.5%) $308,437 (9.3%) 0.00 61
    2023-11-01 $199,864 (-2.4%) $296,821 (24.9%) 0.00 65
    2023-12-01 $185,000 (-6.2%) $275,564 (21.9%) 0.00 65
    2024-01-01 $171,950 (-13.4%) $257,133 (14.9%) 0.00 64
    2024-02-01 $188,975 (-16.0%) $279,235 (16.2%) 0.00 64
    2024-03-01 $199,900 (-11.6%) $261,296 (4.7%) 0.00 69
    Cambridge's median listing price for 2024-03-01 was $199,900, a difference of $-26,211 (-11.6%) versus the prior year and $10,925 versus the prior month.

    Cambridge's median listing price comes in at 0% of the national average.

    Cambridge's average listing price for 2024-03-01 was $261,296, a difference of $11,657 (4.7%) versus the prior year and $-17,939 versus the prior month.

    For the 2024-03-01 period, Cambridge had 69 MLS listings, a difference of 5 listings (8%) versus the prior month and -2 listings (-3%) 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 0 days 1,539 sqft
    2018-02-01 0 days 1,472 sqft
    2018-03-01 0 days 1,472 sqft
    2018-04-01 0 days 1,473 sqft
    2018-05-01 0 days 1,495 sqft
    2018-06-01 0 days 1,500 sqft
    2018-07-01 0 days 1,716 sqft
    2018-08-01 0 days 1,697 sqft
    2018-09-01 0 days 1,704 sqft
    2018-10-01 0 days 1,679 sqft
    2018-11-01 0 days 1,680 sqft
    2018-12-01 0 days 1,697 sqft
    2019-01-01 0 days 1,795 sqft
    2019-02-01 0 days 1,838 sqft
    2019-03-01 0 days 1,819 sqft
    2019-04-01 0 days 1,771 sqft
    2019-05-01 0 days 1,610 sqft
    2019-06-01 0 days 1,598 sqft
    2019-07-01 0 days 1,708 sqft
    2019-08-01 0 days 1,740 sqft
    2019-09-01 0 days 1,761 sqft
    2019-10-01 0 days 1,776 sqft
    2019-11-01 0 days 1,764 sqft
    2019-12-01 0 days 1,720 sqft
    2020-01-01 0 days 1,699 sqft
    2020-02-01 0 days 1,724 sqft
    2020-03-01 0 days 1,834 sqft
    2020-04-01 0 days 1,858 sqft
    2020-05-01 0 days 1,900 sqft
    2020-06-01 0 days 1,742 sqft
    2020-07-01 0 days 1,703 sqft
    2020-08-01 0 days 1,657 sqft
    2020-09-01 0 days 1,680 sqft
    2020-10-01 0 days 1,661 sqft
    2020-11-01 0 days 1,776 sqft
    2020-12-01 0 days 1,757 sqft
    2021-01-01 0 days 1,800 sqft
    2021-02-01 0 days 1,969 sqft
    2021-03-01 0 days 1,776 sqft
    2021-04-01 0 days 1,556 sqft
    2021-05-01 0 days 1,752 sqft
    2021-06-01 0 days 1,679 sqft
    2021-07-01 0 days 2,000 sqft
    2021-08-01 0 days 1,805 sqft
    2021-09-01 0 days 1,824 sqft
    2021-10-01 0 days 1,897 sqft
    2021-11-01 0 days 1,856 sqft
    2021-12-01 0 days 1,830 sqft
    2022-01-01 0 days 1,831 sqft
    2022-02-01 0 days 1,902 sqft
    2022-03-01 0 days 2,030 sqft
    2022-04-01 0 days 2,008 sqft
    2022-05-01 0 days 2,021 sqft
    2022-06-01 0 days 1,948 sqft
    2022-07-01 0 days 1,920 sqft
    2022-08-01 0 days 1,910 sqft
    2022-09-01 0 days 1,862 sqft
    2022-10-01 0 days 1,767 sqft
    2022-11-01 0 days 1,651 sqft
    2022-12-01 0 days 1,574 sqft
    2023-01-01 0 days 1,732 sqft
    2023-02-01 0 days 1,969 sqft
    2023-03-01 0 days 1,930 sqft
    2023-04-01 0 days 1,804 sqft
    2023-05-01 0 days 1,866 sqft
    2023-06-01 0 days 1,669 sqft
    2023-07-01 0 days 1,693 sqft
    2023-08-01 0 days 1,565 sqft
    2023-09-01 0 days 1,664 sqft
    2023-10-01 0 days 1,580 sqft
    2023-11-01 0 days 1,679 sqft
    2023-12-01 0 days 1,632 sqft
    2024-01-01 0 days 1,571 sqft
    2024-02-01 0 days 1,696 sqft
    2024-03-01 0 days 1,703 sqft
    Cambridge's median listing age (time on market) for 2024-03-01 was 0 days.

    Cambridge's median square footage for active listings during the 2024-03-01 period was 1,703 sqft. One year prior, the average listing was 1,930 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.