East Stroudsburg VA Loan Rates, Closing Costs & Stats

EAST STROUDSBURG, PA

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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.

    East Stroudsburg's 51 lenders originated 186 VA loans during 2023. The total origination value was $55,470,000, with an average VA loan value of $298,226.

    East Stroudsburg VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in East Stroudsburg averaged 6.99% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    East Stroudsburg's average VA mortgage closing costs are $6,865.

    The average rate for the prior week (2024-07-12) was 6.63% and one month ago for the week of 2024-06-14, the average rate was 6.89%.

    The average rate one year ago was 7.27%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.33%.

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

    East Stroudsburg 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 East Stroudsburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 42 6.69% $8,446
    QUICKEN LOANS, LLC 15 5.93% $14,152
    UNITED WHOLESALE MORTGAGE, LLC 10 6.48% $12,969
    NAVY FEDERAL CREDIT UNION 9 6.06% $6,371
    USAA Federal Savings Bank 8 6.27% $10,168
    NEW DAY FINANCIAL, LLC 8 7.62% $16,183
    FREEDOM MORTGAGE CORPORATION 7 6.68% $14,572
    PENNYMAC LOAN SERVICES, LLC 6 5.27% $12,943
    Barrington Bank & Trust Company, N.A. 5 5.95% $11,424
    Mr. Cooper ( Nationstar Mortgage ) 5 5.70% $13,471
    The Federal Savings Bank 5 5.90% $12,975
    LOANDEPOT.COM, LLC 4 6.28% $10,497
    VILLAGE CAPITAL MORTGAGE 3 5.58% $18,730
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.58% $428
    CROSSCOUNTRY MORTGAGE, LLC 3 6.71% $7,125
    PLANET HOME LENDING, LLC 2 6.50% $10,203
    CHURCHILL MORTGAGE CORPORATION 2 6.62% $12,861
    Century Mortgage Company DBA Century Lending Company 2 6.06% $14,945
    CONTOUR MORTGAGE CORPORATION 2 6.19% $19,081
    GUILD MORTGAGE COMPANY 2 6.63% $10,895
    UNION HOME MORTGAGE CORP. 2 6.94% $16,056
    NEWREZ LLC 2 6.69% $19,800
    MOVEMENT MORTGAGE, LLC 2 6.63% $6,055
    Prosperity Home Mortgage, LLC 2 6.12% $11,348
    RESIDENTIAL HOME MORTGAGE CORPORATION 1 7.25% $7,038
    Summit Mortgage Corporation 1 6.25% $5,103
    SUN WEST MORTGAGE COMPANY, INC. 1 6.38% $6,123
    JPMorgan Chase Bank 1 5.75% $24,018
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $28,455
    Bank of England 1 5.25% $11,822
    BROKER SOLUTIONS, INC. 1 6.75% $9,594
    CARDINAL FINANCIAL 1 6.75% $16,027
    Citizens Bank 1 6.50% $18,108
    DHI MORTGAGE COMPANY, LTD. 1 6.25% $3,812
    Equity Prime Mortgage LLC 1 6.88% $11,608
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 7.13% $8,665
    FIRST COMMUNITY MORTGAGE, INC. 1 7.25% $11,238
    First Savings Bank 1 7.25% $11,238
    Flagstar Bank, FSB 1 6.25% $11,560
    GSF Mortgage Corporation 1 7.13% $8,029
    GUARANTEED RATE AFFINITY, LLC 1 6.50% $8,211
    GUARANTEED RATE, INC. 1 6.75% $3,331
    HomePromise Corporation 1 7.50% $16,646
    Ixonia Bank 1 7.63% $14,970
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.75% $13,355
    Magnolia Bank 1 6.13% $16,826
    Mid-Continent Funding, Inc. 1 6.50% $15,348
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $13,231
    Nations Lending Corporation 1 6.13% $12,480
    Paramount Residential Mortgage Group, Inc. 1 6.75% $9,324
    PENTAGON FEDERAL CREDIT UNION 1 6.63% $4,712

    The top East Stroudsburg VA lender as defined by loan originations is Mortgage Research Center, LLC, with 42 VA loans originated. Their average total fees are $8,446, which is $5,705 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee East Stroudsburg VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($8,446), UNITED WHOLESALE MORTGAGE, LLC ($12,969), QUICKEN LOANS, LLC ($14,152), .

    The lowest rate East Stroudsburg VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.93%), UNITED WHOLESALE MORTGAGE, LLC (6.48%), Mortgage Research Center, LLC (6.69%), .

    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.