Hagerstown VA Loan Rates, Closing Costs & Stats

HAGERSTOWN-MARTINSBURG, MD-WV

  • 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.

    Hagerstown's 98 lenders originated 689 VA loans during 2023. The total origination value was $227,225,000, with an average VA loan value of $329,790.

    Hagerstown VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Hagerstown averaged 6.42% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Hagerstown's average VA mortgage closing costs are $6,349.

    The average rate for the prior week (2024-07-12) was 6.26% and one month ago for the week of 2024-06-14, the average rate was 6.72%.

    The average rate one year ago was 6.9%.

    For refis of the same type during the week of 2024-07-19, the average rate was 7.13%.

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

    Hagerstown 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 Hagerstown level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 99 6.69% $6,772
    QUICKEN LOANS, LLC 52 6.14% $13,504
    NVR Mortgage Finance, Inc. 52 5.75% $6,658
    NAVY FEDERAL CREDIT UNION 36 5.75% $5,340
    Integrity Home Mortgage Corp 34 6.64% $10,698
    UNITED WHOLESALE MORTGAGE, LLC 26 6.25% $6,255
    LOANDEPOT.COM, LLC 23 5.97% $11,470
    USAA Federal Savings Bank 19 6.34% $7,065
    PENNYMAC LOAN SERVICES, LLC 17 5.60% $9,515
    PRIMELENDING, A PLAINSCAPITAL COMPANY 15 6.65% $7,861
    FREEDOM MORTGAGE CORPORATION 13 6.53% $18,334
    HOMESPIRE MORTGAGE CORPORATION 12 6.34% $6,925
    FIRST HOME MORTGAGE CORPORATION 11 6.23% $9,834
    Sierra Pacific Mortgage Company, Inc. 11 6.50% $11,210
    The Federal Savings Bank 11 6.30% $17,724
    MOVEMENT MORTGAGE, LLC 9 6.57% $13,756
    VILLAGE CAPITAL MORTGAGE 9 6.72% $9,034
    Mr. Cooper ( Nationstar Mortgage ) 9 5.97% $12,772
    CBM Mortgage, Inc. 8 6.67% $8,712
    DHI MORTGAGE COMPANY, LTD. 8 5.59% $8,429
    CROSSCOUNTRY MORTGAGE, LLC 8 6.88% $9,481
    MICHIGAN MUTUAL, INC. 7 6.11% $8,626
    Prosperity Home Mortgage, LLC 6 5.56% $7,090
    T2 FINANCIAL LLC 6 6.30% $6,670
    UNION HOME MORTGAGE CORP. 6 6.81% $10,952
    GSF Mortgage Corporation 5 5.80% $8,999
    Paramount Residential Mortgage Group, Inc. 5 6.50% $11,397
    BROKER SOLUTIONS, INC. 5 6.78% $11,397
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.23% $7,842
    NEWREZ LLC 5 6.39% $11,211
    EMBRACE HOME LOANS, INC. 4 6.00% $12,493
    Atlantic Coast Mortgage, LLC 4 6.53% $6,866
    HOMEAMERICAN MORTGAGE CORPORATION 4 5.91% $5,123
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 4 6.31% $7,295
    NEW DAY FINANCIAL, LLC 4 7.50% $11,515
    NFM, INC. 4 5.78% $7,736
    PENTAGON FEDERAL CREDIT UNION 4 6.03% $7,819
    Presidential Bank, FSB 4 6.44% $6,572
    Waterstone Mortgage Corporation 4 6.47% $11,689
    LAND HOME FINANCIAL SERVICES, INC. 3 6.29% $9,854
    Shore United Bank 3 6.71% $11,025
    CNB Bank Inc. 3 6.17% $13,133
    Truist 3 6.37% $8,909
    Equity Prime Mortgage LLC 3 6.71% $12,082
    First Heritage Mortgage, LLC 3 6.08% $11,466
    U.S. Bank 3 5.83% $10,969
    SUN WEST MORTGAGE COMPANY, INC. 3 6.83% $6,405
    CARDINAL FINANCIAL 3 6.71% $9,490
    LAKEVIEW LOAN SERVICING, LLC 3 6.08% $14,879
    Farmers and Merchants Trust Company of Chambersburg 3 6.63% $5,234
    Barrington Bank & Trust Company, N.A. 3 6.71% $7,345
    Wells Fargo Bank 2 6.06% $4,723
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.94% $10,903
    DAS Acquisition Company, LLC 2 6.68% $11,746
    NORWICH COMMERCIAL GROUP, INC. 2 6.50% $14,963
    The Central Trust Bank 2 5.94% $9,276
    TIDEWATER MORTGAGE SERVICES, INC. 2 6.13% $11,263
    CALIBER HOME LOANS, INC. 2 6.19% $8,665
    FIDELITY DIRECT MORTGAGE, LLC 2 7.19% $5,921
    Plains Commerce Bank 2 5.88% $5,811
    PLANET HOME LENDING, LLC 2 6.81% $10,909
    George Mason Mortgage, LLC 2 5.75% $13,248
    DRAPER AND KRAMER MORTGAGE CORP. 2 6.69% $10,355
    SeaTrust Mortgage Company 1 6.13% $29,305
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $5,836
    Strong Home Mortgage, LLC 1 5.75% $625
    SWBC MORTGAGE CORPORATION 1 5.75% $0
    Ameris Bank 1 6.25% $13,591
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $11,997
    Towne Bank 1 6.88% $13,531
    American Mortgage & Equity Consultants, Inc. 1 7.13% $2,375
    Fulton Bank 1 6.25% $16,406
    Gateway First Bank 1 7.75% $0
    GUILD MORTGAGE COMPANY 1 7.13% $11,611
    GUARANTEED RATE AFFINITY, LLC 1 6.75% $14,583
    AMERICAN FINANCING CORPORATION 1 7.13% $3,645
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.88% $6,512
    HOMESIDE FINANCIAL, LLC 1 7.25% $7,476
    EVERETT FINANCIAL, INC. 1 5.88% $7,328
    JPMorgan Chase Bank 1 7.63% $15,531
    AMERICAN FINANCIAL NETWORK, INC. 1 6.00% $3,722
    ENVOY MORTGAGE, LTD 1 5.75% $1,630
    ABSOLUTE HOME MORTGAGE CORPORATION 1 7.75% $2,537
    Mid-Continent Funding, Inc. 1 5.75% $9,786
    MORTGAGE ACCESS CORP. 1 5.63% $2,325
    M&T Bank 1 6.13% $6,403
    Nations Lending Corporation 1 5.75% $15,603
    NATIONWIDE MORTGAGE BANKERS, INC. 1 7.00% $17,006
    CMG MORTGAGE, INC. 1 5.75% $4,087
    NBKC BANK 1 4.88% $7,827
    Citizens Bank 1 6.75% $9,037
    Vellum Mortgage, Inc. 1 6.50% $14,485
    Capital Bank 1 6.50% $9,735
    PATRIOT 1 5.88% $10,701
    Alcova Mortgage LLC 1 7.75% $5,231
    Blue Ridge Bank 1 6.63% $7,407
    BAY EQUITY LLC 1 6.13% $8,758
    ROYAL UNITED MORTGAGE LLC 1 7.25% $14,921

    The top Hagerstown VA lender as defined by loan originations is Mortgage Research Center, LLC, with 99 VA loans originated. Their average total fees are $6,772, which is $6,732 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Hagerstown VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($5,340), UNITED WHOLESALE MORTGAGE, LLC ($6,255), NVR Mortgage Finance, Inc. ($6,658), Mortgage Research Center, LLC ($6,772) and HOMESPIRE MORTGAGE CORPORATION ($6,925).

    The lowest rate Hagerstown VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.60%), NAVY FEDERAL CREDIT UNION (5.75%), NVR Mortgage Finance, Inc. (5.75%), LOANDEPOT.COM, LLC (5.97%) and QUICKEN LOANS, LLC (6.14%).

    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.