Chambersburg VA Loan Rates, Closing Costs & Stats

CHAMBERSBURG-WAYNESBORO, PA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Chambersburg's 64 lenders originated 187 VA loans during 2023. The total origination value was $55,785,000, with an average VA loan value of $298,316.

    Chambersburg VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Chambersburg averaged 6.48% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Chambersburg's average VA mortgage closing costs are $6,649.

    The average rate for the prior week (2024-11-01) was 6.44% and one month ago for the week of 2024-10-04, the average rate was 5.86%.

    The average rate one year ago was 7.52%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.92%.

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

    Chambersburg 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 Chambersburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 40 6.57% $6,465
    Integrity Home Mortgage Corp 14 6.80% $7,542
    CROSSCOUNTRY MORTGAGE, LLC 9 6.28% $10,305
    UNITED WHOLESALE MORTGAGE, LLC 8 5.98% $8,774
    QUICKEN LOANS, LLC 7 5.96% $15,109
    GUILD MORTGAGE COMPANY 6 6.33% $14,492
    PENNYMAC LOAN SERVICES, LLC 6 5.73% $7,699
    Northpointe Bank 5 6.63% $8,538
    NAVY FEDERAL CREDIT UNION 5 5.90% $6,741
    NVR Mortgage Finance, Inc. 5 5.52% $7,593
    NEW DAY FINANCIAL, LLC 4 7.52% $16,624
    FREEDOM MORTGAGE CORPORATION 4 6.53% $16,283
    UNION HOME MORTGAGE CORP. 4 6.75% $9,174
    George Mason Mortgage, LLC 3 6.92% $7,383
    USAA Federal Savings Bank 3 5.83% $9,029
    VILLAGE CAPITAL MORTGAGE 2 7.26% $16,438
    PATRIOT 2 5.69% $4,231
    PENTAGON FEDERAL CREDIT UNION 2 5.19% $14,398
    HOMEAMERICAN MORTGAGE CORPORATION 2 5.94% $3,548
    First Federal Bank 2 6.44% $6,315
    Mr. Cooper ( Nationstar Mortgage ) 2 6.63% $11,187
    NBKC BANK 2 6.13% $11,641
    HOMESPIRE MORTGAGE CORPORATION 2 7.25% $13,771
    Mid-Continent Funding, Inc. 1 7.13% $10,312
    MOVEMENT MORTGAGE, LLC 1 6.75% $14,409
    NEWREZ LLC 1 6.13% $18,904
    Old National Bank 1 6.38% $9,037
    PLANET HOME LENDING, LLC 1 5.88% $26,028
    PLAZA HOME MORTGAGE, INC. 1 6.63% $18,990
    PNC Bank 1 6.50% $16,542
    POLARIS HOME FUNDING CORP. 1 6.63% $14,796
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.63% $11,382
    RELIANCE FIRST CAPITAL, LLC 1 5.75% $18,786
    ROYAL UNITED MORTGAGE LLC 1 6.50% $24,294
    Sierra Pacific Mortgage Company, Inc. 1 7.13% $17,798
    The Federal Savings Bank 1 6.75% $11,725
    ABSOLUTE HOME MORTGAGE CORPORATION 1 8.13% $10,853
    Towne Bank 1 5.50% $11,839
    Truist 1 6.10% $13,652
    Univest Bank and Trust Co. 1 6.38% $5,041
    VAN DYK MORTGAGE CORPORATION 1 6.13% $4,348
    TIDEWATER MORTGAGE SERVICES, INC. 1 6.88% $6,299
    ACADEMY MORTGAGE CORPORATION 1 6.25% $4,642
    Alcova Mortgage LLC 1 6.50% $7,843
    AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $24,172
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.50% $5,530
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.50% $6,250
    Barrington Bank & Trust Company, N.A. 1 5.25% $3,721
    CALIBER HOME LOANS, INC. 1 5.75% $11,496
    Citizens Bank 1 5.75% $20,186
    CNB Bank Inc. 1 5.63% $6,501
    DIRECT MORTGAGE LOANS, LLC 1 6.88% $13,118
    ENVOY MORTGAGE, LTD 1 6.75% $10,110
    First Heritage Mortgage, LLC 1 5.75% $14,062
    FIRST HOME MORTGAGE CORPORATION 1 6.63% $7,923
    Foote Capital Mortgage Company 1 6.13% $13,327
    Fulton Bank 1 6.25% $5,770
    GUARANTEED RATE AFFINITY, LLC 1 7.75% $150
    HomePromise Corporation 1 6.50% $16,029
    Homesale Mortgage, LLC 1 7.75% $11,812
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $10,187
    LOANDEPOT.COM, LLC 1 5.99% $9,261
    Magnolia Bank 1 5.75% $13,103
    MEMBERS 1ST FEDERAL CREDIT UNION 1 7.13% $13,270

    The top Chambersburg VA lender as defined by loan originations is Mortgage Research Center, LLC, with 40 VA loans originated. Their average total fees are $6,465, which is $1,077 lower than the next largest lender, Integrity Home Mortgage Corp.

    The lowest fee Chambersburg VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,465), Integrity Home Mortgage Corp ($7,542), .

    The lowest rate Chambersburg VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.57%), Integrity Home Mortgage Corp (6.80%), .

    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.