Fernley VA Loan Rates, Closing Costs & Stats

Fernley, 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.

Fernley's 90 lenders originated 857 VA loans during 2021. The total origination value was $259,415,000, with an average VA loan value of $302,701.

Fernley VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Fernley averaged 6.89% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

Fernley's average VA mortgage closing costs are $6,267.

The average rate for the prior week (2022-11-25) was 6.92% and one month ago for the week of 2022-10-28, the average rate was 7.11%.

The average rate one year ago was 3.79%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.41%.

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

Fernley 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 Fernley level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
GUILD MORTGAGE COMPANY 113 2.87% $7,944
FREEDOM MORTGAGE CORPORATION 72 2.40% $3,732
QUICKEN LOANS, LLC 65 2.41% $5,610
Mortgage Research Center, LLC 60 2.78% $8,328
PENNYMAC LOAN SERVICES, LLC 35 2.47% $7,295
CLEARPATH LENDING 28 2.29% $4,284
BROKER SOLUTIONS, INC. 27 2.93% $8,882
LOANDEPOT.COM, LLC 24 2.48% $6,112
SUMMIT FUNDING, INC. 22 3.14% $9,264
NEW DAY FINANCIAL, LLC 20 2.70% $9,020
The Federal Savings Bank 19 2.57% $8,120
NAVY FEDERAL CREDIT UNION 19 2.41% $10,697
ISERVE RESIDENTIAL LENDING, LLC 16 2.97% $6,848
FINANCE OF AMERICA MORTGAGE LLC 14 2.85% $7,285
UNITED WHOLESALE MORTGAGE, LLC 14 2.52% $6,636
USAA Federal Savings Bank 13 2.77% $6,300
Low VA Rates, LLC 13 2.53% $5,574
EAGLE HOME MORTGAGE, LLC 11 2.86% $4,475
LAKEVIEW LOAN SERVICING, LLC 10 2.51% $3,200
CALIBER HOME LOANS, INC. 10 2.49% $3,991
MOVEMENT MORTGAGE, LLC 10 2.83% $6,867
Wells Fargo Bank 10 2.55% $4,373
PRIMELENDING, A PLAINSCAPITAL COMPANY 9 3.08% $9,219
Mr. Cooper ( Nationstar Mortgage ) 8 2.77% $3,339
VILLAGE CAPITAL MORTGAGE 8 2.63% $3,076
MUTUAL OF OMAHA MORTGAGE, INC. 6 2.65% $7,299
Sierra Pacific Mortgage Company, Inc. 6 3.02% $10,837
HOME POINT FINANCIAL CORPORATION 6 2.73% $6,463
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 6 2.73% $8,879
CELEBRITY HOME LOANS, LLC 6 3.65% $8,312
Carrington Mortgage Services, LLC 5 3.08% $4,194
Wolfe Financial, Inc 5 2.95% $8,197
CROSSCOUNTRY MORTGAGE, LLC 5 2.70% $10,690
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 2.80% $4,165
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 3.13% $9,131
Northpointe Bank 5 2.83% $6,555
AMERICAN FINANCIAL NETWORK, INC. 5 2.30% $6,226
SUN WEST MORTGAGE COMPANY, INC. 5 2.20% $9,299
BAY EQUITY LLC 4 2.81% $12,686
Barrington Bank & Trust Company, N.A. 4 2.72% $3,344
GREATER NEVADA LLC 4 3.16% $10,209
AMERICAN PACIFIC MORTGAGE CORPORATION 4 2.97% $3,686
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 3 3.41% $7,030
ALL WESTERN MORTGAGE, INC. 3 3.29% $7,533
GUARANTEED RATE, INC. 3 3.08% $8,675
SOVEREIGN LENDING GROUP INCORPORATED 3 2.58% $7,486
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 2.71% $5,435
CMG MORTGAGE, INC. 3 3.16% $7,735
Zions Bancorporation, N.A. 2 2.88% $5,866
MASON MCDUFFIE MORTGAGE CORPORATION 2 2.44% $2,937
AMERISAVE MORTGAGE CORPORATION 2 2.63% $5,925
Wyndham Capital Mortgage, Inc. 2 2.31% $10,172
ON Q FINANCIAL, INC. 2 3.00% $3,009
NEWREZ LLC 2 2.63% $2,892
InterContinental Capital Group, Inc 2 2.25% $7,420
CALCON MUTUAL MORTGAGE LLC 2 2.81% $14,583
Umpqua Bank 2 3.25% $2,299
Paramount Residential Mortgage Group, Inc. 2 3.00% $1,825
SYNERGY HOME MORTGAGE, LLC 1 2.99% $13,887
AMERICAN FINANCIAL RESOURCES, INC. 1 4.25% $21,457
ANGEL OAK HOME LOANS LLC 1 2.50% $7,000
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 3.63% $12,884
Armed Forces Bank 1 2.63% $3,378
AXIA FINANCIAL, LLC 1 2.75% $10,345
BELEM SERVICING LLC 1 2.63% $12,931
Commerce Home Mortgage, Inc. 1 3.00% $3,177
DIGNIFIED HOME LOANS, LLC 1 3.63% $12,046
FirstBank 1 2.37% $878
First Federal Bank 1 2.75% $7,529
First Guaranty Mortgage Corporation 1 2.25% $2,015
Flagstar Bank, FSB 1 2.88% $5,158
Franklin Loan Corporation 1 3.50% $607
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.00% $20,584
INTERNATIONAL CITY MORTGAGE, INC. 1 2.75% $3,332
LADERA LENDING, INC. 1 3.00% $22,512
LENDUS, LLC 1 2.99% $12,005
Magnolia Bank 1 2.38% $4,368
MANN FINANCIAL INC. 1 3.13% $7,236
Meridian Bank Corporation 1 2.25% $4,388
MORIA DEVELOPMENT, INC. 1 2.38% $3,436
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $2,594
MOUNTAIN AMERICA 1 2.00% $13,054
NBKC BANK 1 2.25% $3,515
North American Savings Bank, F.S.B. 1 2.38% $2,924
PENTAGON FEDERAL CREDIT UNION 1 2.25% $0
PNC Bank 1 3.13% $2,352
PREMIER MORTGAGE RESOURCES, L.L.C. 1 3.13% $3,272
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $10,666
TOP FLITE FINANCIAL, INC. 1 2.38% $5,900
VAN DYK MORTGAGE CORPORATION 1 2.50% $11,874

The top Fernley VA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 113 VA loans originated. Their average total fees are $7,944, which is $4,212 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee Fernley VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($3,200), FREEDOM MORTGAGE CORPORATION ($3,732), CALIBER HOME LOANS, INC. ($3,991), CLEARPATH LENDING ($4,284) and Wells Fargo Bank ($4,373).

The lowest rate Fernley VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.29%), FREEDOM MORTGAGE CORPORATION (2.40%), QUICKEN LOANS, LLC (2.41%), NAVY FEDERAL CREDIT UNION (2.41%) and PENNYMAC LOAN SERVICES, LLC (2.47%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Fernley (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 $303,578 (13.4%) $378,413 (17.9%) 0.00 195
2018-02-01 $310,950 (15.4%) $394,669 (18.9%) 0.00 163
2018-03-01 $307,900 (10.7%) $389,243 (16.4%) 0.00 170
2018-04-01 $312,104 (11.5%) $399,396 (12.9%) 0.00 164
2018-05-01 $309,890 (3.9%) $398,655 (6.2%) 0.00 170
2018-06-01 $302,450 (1.3%) $393,861 (5.8%) 0.00 189
2018-07-01 $299,900 (-4.8%) $390,705 (2.6%) 0.00 215
2018-08-01 $297,000 (-2.0%) $385,199 (3.0%) 0.00 220
2018-09-01 $299,250 (0.1%) $373,931 (0.9%) 0.00 245
2018-10-01 $298,500 (-0.4%) $356,183 (-3.4%) 0.00 248
2018-11-01 $299,625 (1.6%) $354,725 (0.6%) 0.00 221
2018-12-01 $300,000 (3.5%) $371,852 (3.7%) 0.00 208
2019-01-01 $304,950 (0.5%) $370,293 (-2.2%) 0.00 197
2019-02-01 $322,425 (3.7%) $378,693 (-4.1%) 0.00 191
2019-03-01 $330,943 (7.5%) $387,902 (-0.3%) 0.00 201
2019-04-01 $339,000 (8.6%) $397,537 (-0.5%) 0.00 213
2019-05-01 $338,940 (9.4%) $388,898 (-2.5%) 0.00 236
2019-06-01 $339,900 (12.4%) $388,125 (-1.5%) 0.00 242
2019-07-01 $340,250 (13.5%) $384,519 (-1.6%) 0.00 270
2019-08-01 $338,291 (13.9%) $380,829 (-1.1%) 0.00 272
2019-09-01 $334,977 (11.9%) $377,474 (1.0%) 0.00 269
2019-10-01 $333,254 (11.6%) $376,244 (5.6%) 0.00 265
2019-11-01 $339,450 (13.3%) $384,549 (8.4%) 0.00 243
2019-12-01 $334,250 (11.4%) $380,603 (2.4%) 0.00 219
2020-01-01 $334,900 (9.8%) $383,422 (3.6%) 0.00 190
2020-02-01 $340,000 (5.5%) $386,605 (2.1%) 0.00 185
2020-03-01 $340,825 (3.0%) $389,246 (0.4%) 0.00 189
2020-04-01 $331,200 (-2.3%) $382,448 (-3.8%) 0.00 206
2020-05-01 $338,799 (0.0%) $399,109 (2.6%) 0.00 176
2020-06-01 $349,999 (3.0%) $428,806 (10.5%) 0.00 163
2020-07-01 $360,500 (6.0%) $429,279 (11.6%) 0.00 157
2020-08-01 $362,700 (7.2%) $428,269 (12.5%) 0.00 136
2020-09-01 $380,269 (13.5%) $450,363 (19.3%) 0.00 127
2020-10-01 $359,900 (8.0%) $423,815 (12.6%) 0.00 122
2020-11-01 $354,975 (4.6%) $430,736 (12.0%) 0.00 92
2020-12-01 $347,537 (4.0%) $424,804 (11.6%) 0.00 76
2021-01-01 $334,900 (0.0%) $425,631 (11.0%) 0.00 65
2021-02-01 $352,488 (3.7%) $426,161 (10.2%) 0.00 48
2021-03-01 $332,000 (-2.6%) $429,621 (10.4%) 0.00 47
2021-04-01 $360,000 (8.7%) $421,168 (10.1%) 0.00 79
2021-05-01 $386,950 (14.2%) $509,239 (27.6%) 0.00 74
2021-06-01 $414,913 (18.6%) $537,807 (25.4%) 0.00 71
2021-07-01 $418,500 (16.1%) $526,507 (22.7%) 0.00 76
2021-08-01 $423,725 (16.8%) $491,336 (14.7%) 0.00 114
2021-09-01 $427,500 (12.4%) $499,153 (10.8%) 0.00 120
2021-10-01 $419,000 (16.4%) $482,406 (13.8%) 0.00 152
2021-11-01 $418,750 (18.0%) $476,687 (10.7%) 0.00 157
2021-12-01 $419,000 (20.6%) $496,579 (16.9%) 0.00 127
2022-01-01 $419,900 (25.4%) $527,515 (23.9%) 0.00 109
2022-02-01 $429,000 (21.7%) $533,423 (25.2%) 0.00 92
2022-03-01 $434,975 (31.0%) $536,164 (24.8%) 0.00 90
2022-04-01 $446,000 (23.9%) $545,911 (29.6%) 0.00 117
2022-05-01 $453,225 (17.1%) $546,303 (7.3%) 0.00 154
2022-06-01 $439,950 (6.0%) $518,471 (-3.6%) 0.00 195
2022-07-01 $442,500 (5.7%) $514,052 (-2.4%) 0.00 256
2022-08-01 $443,725 (4.7%) $503,580 (2.5%) 0.00 289
2022-09-01 $430,241 (0.6%) $487,695 (-2.3%) 0.00 318
2022-10-01 $425,000 (1.4%) $489,884 (1.6%) 0.00 306
2022-11-01 $426,000 (1.7%) $490,338 (2.9%) 0.00 281
Fernley's median listing price for 2022-11-01 was $426,000, a difference of $7,250 (1.7%) versus the prior year and $1,000 versus the prior month.

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

Fernley's average listing price for 2022-11-01 was $490,338, a difference of $13,651 (2.9%) versus the prior year and $454 versus the prior month.

For the 2022-11-01 period, Fernley had 281 MLS listings, a difference of -25 listings (-8%) versus the prior month and 124 listings (79%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Fernley (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,930 sqft
2018-02-01 0 days 1,997 sqft
2018-03-01 0 days 1,930 sqft
2018-04-01 0 days 1,930 sqft
2018-05-01 0 days 1,912 sqft
2018-06-01 0 days 1,850 sqft
2018-07-01 0 days 1,826 sqft
2018-08-01 0 days 1,822 sqft
2018-09-01 0 days 1,815 sqft
2018-10-01 0 days 1,825 sqft
2018-11-01 0 days 1,830 sqft
2018-12-01 0 days 1,844 sqft
2019-01-01 0 days 1,832 sqft
2019-02-01 0 days 1,882 sqft
2019-03-01 0 days 1,909 sqft
2019-04-01 0 days 1,921 sqft
2019-05-01 0 days 1,901 sqft
2019-06-01 0 days 1,913 sqft
2019-07-01 0 days 1,908 sqft
2019-08-01 0 days 1,882 sqft
2019-09-01 0 days 1,841 sqft
2019-10-01 0 days 1,818 sqft
2019-11-01 0 days 1,877 sqft
2019-12-01 0 days 1,870 sqft
2020-01-01 0 days 1,837 sqft
2020-02-01 0 days 1,835 sqft
2020-03-01 0 days 1,870 sqft
2020-04-01 0 days 1,797 sqft
2020-05-01 0 days 1,814 sqft
2020-06-01 0 days 1,913 sqft
2020-07-01 0 days 1,939 sqft
2020-08-01 0 days 1,864 sqft
2020-09-01 0 days 1,968 sqft
2020-10-01 0 days 1,860 sqft
2020-11-01 0 days 1,799 sqft
2020-12-01 0 days 1,752 sqft
2021-01-01 0 days 1,663 sqft
2021-02-01 0 days 1,664 sqft
2021-03-01 0 days 1,595 sqft
2021-04-01 0 days 1,675 sqft
2021-05-01 0 days 1,722 sqft
2021-06-01 0 days 1,841 sqft
2021-07-01 0 days 1,850 sqft
2021-08-01 0 days 1,838 sqft
2021-09-01 0 days 1,903 sqft
2021-10-01 0 days 1,786 sqft
2021-11-01 0 days 1,749 sqft
2021-12-01 0 days 1,747 sqft
2022-01-01 0 days 1,750 sqft
2022-02-01 0 days 1,718 sqft
2022-03-01 0 days 1,721 sqft
2022-04-01 0 days 1,768 sqft
2022-05-01 0 days 1,851 sqft
2022-06-01 0 days 1,821 sqft
2022-07-01 0 days 1,846 sqft
2022-08-01 0 days 1,814 sqft
2022-09-01 0 days 1,749 sqft
2022-10-01 0 days 1,749 sqft
2022-11-01 0 days 1,786 sqft
Fernley's median listing age (time on market) for 2022-11-01 was 0 days.

Fernley's median square footage for active listings during the 2022-11-01 period was 1,786 sqft. One year prior, the average listing was 1,749 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.