Fernley VA Loan Rates, Closing Costs & Stats

Fernley, NV

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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.

    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.