Fallon VA Loan Rates, Closing Costs & Stats

Fallon, NV

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.

Fallon's 67 lenders originated 389 VA loans during 2021. The total origination value was $109,695,000, with an average VA loan value of $281,992.

Fallon VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Fallon averaged 6.51% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

Fallon's average VA mortgage closing costs are $5,979.

The average rate for the prior week (2022-11-25) was 7.05% and one month ago for the week of 2022-10-28, the average rate was 7.23%.

The average rate one year ago was 3.31%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.08%.

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

Fallon 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 Fallon level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Mortgage Research Center, LLC 50 2.80% $7,464
QUICKEN LOANS, LLC 32 2.45% $5,181
FREEDOM MORTGAGE CORPORATION 27 2.48% $4,550
NAVY FEDERAL CREDIT UNION 25 2.43% $5,055
PENNYMAC LOAN SERVICES, LLC 22 2.48% $6,347
GUILD MORTGAGE COMPANY 15 2.88% $8,755
CLEARPATH LENDING 14 2.34% $7,004
PRIMELENDING, A PLAINSCAPITAL COMPANY 12 3.26% $10,522
USAA Federal Savings Bank 11 2.84% $4,859
BROKER SOLUTIONS, INC. 11 3.23% $8,723
LOANDEPOT.COM, LLC 10 2.57% $4,844
SUMMIT FUNDING, INC. 9 3.27% $10,031
VAN DYK MORTGAGE CORPORATION 9 2.31% $5,238
CALIBER HOME LOANS, INC. 7 2.53% $5,443
Mr. Cooper ( Nationstar Mortgage ) 5 2.73% $3,633
FINANCE OF AMERICA MORTGAGE LLC 5 2.95% $8,257
VILLAGE CAPITAL MORTGAGE 4 2.44% $2,641
The Federal Savings Bank 4 2.66% $5,487
AMERICAN PACIFIC MORTGAGE CORPORATION 4 3.13% $10,539
NEW DAY FINANCIAL, LLC 3 3.00% $6,287
ALL WESTERN MORTGAGE, INC. 3 3.25% $10,823
NBKC BANK 3 2.63% $6,009
GREATER NEVADA LLC 3 3.04% $8,393
ISERVE RESIDENTIAL LENDING, LLC 3 3.79% $9,866
PENTAGON FEDERAL CREDIT UNION 2 2.25% $526
AMERICAN FINANCIAL NETWORK, INC. 2 2.38% $6,417
Carrington Mortgage Services, LLC 2 3.00% $6,422
CROSSCOUNTRY MORTGAGE, LLC 2 3.00% $9,529
DAS Acquisition Company, LLC 2 3.06% $8,792
GUARANTEED RATE, INC. 2 2.63% $3,577
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.63% $2,728
Hometown Lenders, Inc. 2 2.81% $6,276
KS StateBank 2 2.88% $1,925
NEWREZ LLC 2 2.93% $2,558
Northpointe Bank 2 2.81% $8,402
PLANET HOME LENDING, LLC 2 2.50% $11,175
SYNERGY HOME MORTGAGE, LLC 2 3.25% $7,383
UNITED WHOLESALE MORTGAGE, LLC 2 2.56% $7,116
Wells Fargo Bank 2 2.75% $3,033
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.13% $1,406
Nations Lending Corporation 1 3.75% $11,217
InterContinental Capital Group, Inc 1 2.50% $7,608
Goldwater Bank, N.A. 1 2.25% $6,259
First Federal Bank 1 2.75% $2,159
BNC National Bank 1 2.25% $2,710
North American Savings Bank, F.S.B. 1 2.50% $3,082
Barrington Bank & Trust Company, N.A. 1 2.48% $3,513
NP, Inc. 1 2.25% $4,244
ON Q FINANCIAL, INC. 1 4.00% $10,113
FirstBank 1 2.25% $2,075
ACADEMY MORTGAGE CORPORATION 1 2.88% $13,188
PINNACLE LENDING GROUP, INC. 1 2.50% $6,106
AMERISAVE MORTGAGE CORPORATION 1 2.25% $6,221
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.75% $12,274
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 3.50% $4,449
CELEBRITY HOME LOANS, LLC 1 3.00% $5,186
SUN WEST MORTGAGE COMPANY, INC. 1 2.38% $5,397
Wolfe Financial, Inc 1 3.25% $3,361
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.50% $2,846
TOP FLITE FINANCIAL, INC. 1 3.25% $14,616
Willamette Valley Bank 1 3.13% $7,200
Low VA Rates, LLC 1 2.75% $10,955
MANN FINANCIAL INC. 1 3.25% $6,631
Meridian Bank Corporation 1 2.25% $4,427
LENDUS, LLC 1 2.50% $14,011
LAKEVIEW LOAN SERVICING, LLC 1 2.38% $1,302
M&T Bank 1 2.25% $2,079

The top Fallon VA lender as defined by loan originations is Mortgage Research Center, LLC, with 50 VA loans originated. Their average total fees are $7,464, which is $2,283 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Fallon VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($4,550), LOANDEPOT.COM, LLC ($4,844), USAA Federal Savings Bank ($4,859), NAVY FEDERAL CREDIT UNION ($5,055) and QUICKEN LOANS, LLC ($5,181).

The lowest rate Fallon VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.34%), NAVY FEDERAL CREDIT UNION (2.43%), QUICKEN LOANS, LLC (2.45%), PENNYMAC LOAN SERVICES, LLC (2.48%) and FREEDOM MORTGAGE CORPORATION (2.48%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Fallon (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 $243,000 (5.5%) $249,385 (-1.6%) 0.00 39
2018-02-01 $250,000 (8.0%) $271,856 (8.8%) 0.00 29
2018-03-01 $285,000 (22.1%) $299,090 (21.7%) 0.00 22
2018-04-01 $281,700 (25.2%) $293,706 (22.2%) 0.00 30
2018-05-01 $263,750 (13.6%) $282,687 (12.9%) 0.00 41
2018-06-01 $271,450 (23.8%) $293,795 (22.3%) 0.00 44
2018-07-01 $265,000 (15.2%) $287,363 (20.4%) 0.00 50
2018-08-01 $269,900 (8.2%) $287,046 (9.6%) 0.00 59
2018-09-01 $262,000 (12.7%) $280,677 (8.4%) 0.00 71
2018-10-01 $269,900 (9.3%) $279,849 (8.2%) 0.00 81
2018-11-01 $269,900 (5.2%) $276,845 (3.4%) 0.00 80
2018-12-01 $270,000 (6.3%) $277,610 (7.7%) 0.00 76
2019-01-01 $271,250 (11.6%) $280,612 (12.5%) 0.00 75
2019-02-01 $269,925 (8.0%) $276,320 (1.6%) 0.00 77
2019-03-01 $268,964 (-5.6%) $278,071 (-7.0%) 0.00 72
2019-04-01 $271,375 (-3.7%) $280,650 (-4.5%) 0.00 66
2019-05-01 $276,350 (4.8%) $294,410 (4.2%) 0.00 61
2019-06-01 $279,875 (3.1%) $307,630 (4.7%) 0.00 71
2019-07-01 $283,650 (7.0%) $306,904 (6.8%) 0.00 74
2019-08-01 $285,527 (5.8%) $315,940 (10.1%) 0.00 77
2019-09-01 $286,468 (9.3%) $326,439 (16.3%) 0.00 77
2019-10-01 $288,350 (6.8%) $331,780 (18.6%) 0.00 76
2019-11-01 $280,000 (3.7%) $321,080 (16.0%) 0.00 67
2019-12-01 $289,800 (7.3%) $326,739 (17.7%) 0.00 59
2020-01-01 $294,700 (8.7%) $328,905 (17.2%) 0.00 58
2020-02-01 $294,900 (9.3%) $329,217 (19.1%) 0.00 53
2020-03-01 $296,500 (10.2%) $326,328 (17.4%) 0.00 69
2020-04-01 $298,975 (10.2%) $327,707 (16.8%) 0.00 66
2020-05-01 $294,900 (6.7%) $381,107 (29.5%) 0.00 60
2020-06-01 $299,500 (7.0%) $444,966 (44.6%) 0.00 38
2020-07-01 $306,125 (7.9%) $452,529 (47.5%) 0.00 34
2020-08-01 $349,900 (22.6%) $509,848 (61.4%) 0.00 26
2020-09-01 $338,000 (18.0%) $516,433 (58.2%) 0.00 22
2020-10-01 $301,900 (4.7%) $479,083 (44.4%) 0.00 17
2020-11-01 $295,425 (5.5%) $477,399 (48.7%) 0.00 17
2020-12-01 $332,500 (14.7%) $504,906 (54.5%) 0.00 23
2021-01-01 $298,250 (1.2%) $496,807 (51.1%) 0.00 23
2021-02-01 $322,500 (9.4%) $492,107 (49.5%) 0.00 18
2021-03-01 $297,436 (0.3%) $497,987 (52.6%) 0.00 19
2021-04-01 $289,950 (-3.0%) $479,312 (46.3%) 0.00 29
2021-05-01 $330,000 (11.9%) $440,075 (15.5%) 0.00 23
2021-06-01 $336,000 (12.2%) $415,635 (-6.6%) 0.00 21
2021-07-01 $362,500 (18.4%) $438,891 (-3.0%) 0.00 27
2021-08-01 $390,000 (11.5%) $432,263 (-15.2%) 0.00 36
2021-09-01 $384,500 (13.8%) $455,837 (-11.7%) 0.00 31
2021-10-01 $395,000 (30.8%) $457,782 (-4.5%) 0.00 29
2021-11-01 $352,500 (19.3%) $441,359 (-7.6%) 0.00 31
2021-12-01 $359,750 (8.2%) $423,048 (-16.2%) 0.00 28
2022-01-01 $367,250 (23.1%) $389,303 (-21.6%) 0.00 24
2022-02-01 $377,300 (17.0%) $396,331 (-19.5%) 0.00 25
2022-03-01 $395,000 (32.8%) $415,830 (-16.5%) 0.00 22
2022-04-01 $379,950 (31.0%) $416,157 (-13.2%) 0.00 36
2022-05-01 $394,500 (19.6%) $428,056 (-2.7%) 0.00 47
2022-06-01 $399,450 (18.9%) $466,254 (12.2%) 0.00 60
2022-07-01 $395,000 (9.0%) $461,460 (5.1%) 0.00 77
2022-08-01 $387,350 (-0.7%) $452,190 (4.6%) 0.00 77
2022-09-01 $388,337 (1.0%) $446,728 (-2.0%) 0.00 74
2022-10-01 $369,990 (-6.3%) $421,822 (-7.9%) 0.00 84
2022-11-01 $355,498 (0.9%) $404,733 (-8.3%) 0.00 93
Fallon's median listing price for 2022-11-01 was $355,498, a difference of $2,998 (0.9%) versus the prior year and $-14,492 versus the prior month.

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

Fallon's average listing price for 2022-11-01 was $404,733, a difference of $-36,626 (-8.3%) versus the prior year and $-17,089 versus the prior month.

For the 2022-11-01 period, Fallon had 93 MLS listings, a difference of 9 listings (11%) versus the prior month and 62 listings (200%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Fallon (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,782 sqft
2018-02-01 0 days 1,884 sqft
2018-03-01 0 days 1,987 sqft
2018-04-01 0 days 1,863 sqft
2018-05-01 0 days 1,851 sqft
2018-06-01 0 days 1,767 sqft
2018-07-01 0 days 1,692 sqft
2018-08-01 0 days 1,773 sqft
2018-09-01 0 days 1,653 sqft
2018-10-01 0 days 1,652 sqft
2018-11-01 0 days 1,704 sqft
2018-12-01 0 days 1,732 sqft
2019-01-01 0 days 1,694 sqft
2019-02-01 0 days 1,680 sqft
2019-03-01 0 days 1,715 sqft
2019-04-01 0 days 1,730 sqft
2019-05-01 0 days 1,811 sqft
2019-06-01 0 days 1,853 sqft
2019-07-01 0 days 1,837 sqft
2019-08-01 0 days 1,866 sqft
2019-09-01 0 days 1,879 sqft
2019-10-01 0 days 1,889 sqft
2019-11-01 0 days 1,831 sqft
2019-12-01 0 days 1,852 sqft
2020-01-01 0 days 1,830 sqft
2020-02-01 0 days 1,818 sqft
2020-03-01 0 days 1,865 sqft
2020-04-01 0 days 1,877 sqft
2020-05-01 0 days 1,822 sqft
2020-06-01 0 days 1,820 sqft
2020-07-01 0 days 1,839 sqft
2020-08-01 0 days 1,895 sqft
2020-09-01 0 days 1,772 sqft
2020-10-01 0 days 1,624 sqft
2020-11-01 0 days 1,574 sqft
2020-12-01 0 days 1,654 sqft
2021-01-01 0 days 1,624 sqft
2021-02-01 0 days 1,773 sqft
2021-03-01 0 days 1,589 sqft
2021-04-01 0 days 1,559 sqft
2021-05-01 0 days 1,693 sqft
2021-06-01 0 days 1,602 sqft
2021-07-01 0 days 1,536 sqft
2021-08-01 0 days 1,600 sqft
2021-09-01 0 days 1,643 sqft
2021-10-01 0 days 1,744 sqft
2021-11-01 0 days 1,604 sqft
2021-12-01 0 days 1,568 sqft
2022-01-01 0 days 1,541 sqft
2022-02-01 0 days 1,610 sqft
2022-03-01 0 days 1,640 sqft
2022-04-01 0 days 1,631 sqft
2022-05-01 0 days 1,633 sqft
2022-06-01 0 days 1,713 sqft
2022-07-01 0 days 1,706 sqft
2022-08-01 0 days 1,690 sqft
2022-09-01 0 days 1,710 sqft
2022-10-01 0 days 1,668 sqft
2022-11-01 0 days 1,639 sqft
Fallon's median listing age (time on market) for 2022-11-01 was 0 days.

Fallon's median square footage for active listings during the 2022-11-01 period was 1,639 sqft. One year prior, the average listing was 1,604 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.