Hagerstown VA Loan Rates, Closing Costs & Stats

HAGERSTOWN-MARTINSBURG, MD-WV

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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.

    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 7.07% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.6% and one month ago for the week of 2024-03-15, the average rate was 6.37%.

    The average rate one year ago was 6.26%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.38%.

    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%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Hagerstown (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 $204,945 (7.8%) $227,128 (3.8%) 0.76 1,192
    2018-02-01 $209,990 (8.7%) $232,176 (5.7%) 0.76 1,192
    2018-03-01 $219,000 (10.2%) $239,601 (6.5%) 0.77 1,204
    2018-04-01 $219,900 (10.0%) $239,806 (5.7%) 0.75 1,300
    2018-05-01 $224,900 (8.4%) $246,327 (6.3%) 0.75 1,405
    2018-06-01 $225,000 (7.2%) $249,353 (6.2%) 0.75 1,493
    2018-07-01 $229,900 (10.3%) $250,913 (5.9%) 0.77 1,498
    2018-08-01 $229,450 (10.5%) $250,648 (5.5%) 0.77 1,528
    2018-09-01 $229,000 (9.1%) $251,588 (6.4%) 0.77 1,473
    2018-10-01 $229,900 (9.5%) $249,816 (7.0%) 0.78 1,465
    2018-11-01 $229,900 (10.7%) $251,958 (8.8%) 0.78 1,470
    2018-12-01 $229,900 (15.0%) $250,332 (11.5%) 0.79 1,359
    2019-01-01 $229,900 (12.2%) $251,455 (10.7%) 0.79 1,265
    2019-02-01 $229,998 (9.5%) $256,171 (10.3%) 0.78 1,258
    2019-03-01 $233,997 (6.9%) $259,196 (8.2%) 0.77 1,273
    2019-04-01 $234,450 (6.6%) $261,239 (8.9%) 0.74 1,338
    2019-05-01 $235,000 (4.5%) $262,371 (6.5%) 0.73 1,404
    2019-06-01 $237,945 (5.8%) $265,083 (6.3%) 0.74 1,448
    2019-07-01 $229,973 (0.0%) $262,903 (4.8%) 0.72 1,489
    2019-08-01 $232,660 (1.4%) $264,465 (5.5%) 0.74 1,476
    2019-09-01 $236,733 (3.4%) $267,082 (6.2%) 0.76 1,453
    2019-10-01 $239,448 (4.2%) $268,540 (7.5%) 0.77 1,427
    2019-11-01 $239,900 (4.4%) $268,499 (6.6%) 0.79 1,318
    2019-12-01 $239,900 (4.4%) $272,387 (8.8%) 0.80 1,130
    2020-01-01 $236,223 (2.8%) $270,114 (7.4%) 0.79 1,008
    2020-02-01 $243,900 (6.0%) $276,644 (8.0%) 0.80 963
    2020-03-01 $244,900 (4.7%) $279,653 (7.9%) 0.77 959
    2020-04-01 $246,445 (5.1%) $280,145 (7.2%) 0.77 937
    2020-05-01 $249,000 (6.0%) $285,978 (9.0%) 0.76 848
    2020-06-01 $247,150 (3.9%) $284,979 (7.5%) 0.73 741
    2020-07-01 $249,998 (8.7%) $286,985 (9.2%) 0.72 656
    2020-08-01 $257,990 (10.9%) $292,353 (10.6%) 0.74 586
    2020-09-01 $259,673 (9.7%) $293,716 (10.0%) 0.74 561
    2020-10-01 $253,990 (6.1%) $288,360 (7.4%) 0.73 539
    2020-11-01 $254,723 (6.2%) $289,351 (7.8%) 0.74 496
    2020-12-01 $259,445 (8.2%) $287,144 (5.4%) 0.77 459
    2021-01-01 $268,900 (13.8%) $291,571 (7.9%) 0.80 409
    2021-02-01 $261,968 (7.4%) $293,912 (6.2%) 0.76 302
    2021-03-01 $263,498 (7.6%) $295,773 (5.8%) 0.75 302
    2021-04-01 $274,450 (11.4%) $310,635 (10.9%) 0.74 284
    2021-05-01 $275,000 (10.4%) $325,988 (14.0%) 0.73 296
    2021-06-01 $269,900 (9.2%) $324,076 (13.7%) 0.71 370
    2021-07-01 $279,450 (11.8%) $325,440 (13.4%) 0.74 447
    2021-08-01 $282,500 (9.5%) $340,702 (16.5%) 0.75 477
    2021-09-01 $282,950 (9.0%) $335,913 (14.4%) 0.75 453
    2021-10-01 $280,000 (10.2%) $329,607 (14.3%) 0.75 451
    2021-11-01 $294,450 (15.6%) $335,318 (15.9%) 0.79 473
    2021-12-01 $291,995 (12.6%) $323,174 (12.6%) 0.79 431
    2022-01-01 $303,990 (13.1%) $333,484 (14.4%) 0.82 362
    2022-02-01 $310,000 (18.3%) $338,389 (15.1%) 0.81 312
    2022-03-01 $320,245 (21.5%) $350,561 (18.5%) 0.80 315
    2022-04-01 $323,990 (18.1%) $361,117 (16.3%) 0.77 354
    2022-05-01 $323,445 (17.6%) $361,798 (11.0%) 0.74 454
    2022-06-01 $323,745 (20.0%) $368,899 (13.8%) 0.72 531
    2022-07-01 $315,591 (12.9%) $361,833 (11.2%) 0.71 631
    2022-08-01 $320,945 (13.6%) $358,260 (5.2%) 0.74 653
    2022-09-01 $322,225 (13.9%) $363,540 (8.2%) 0.75 664
    2022-10-01 $316,240 (12.9%) $360,426 (9.4%) 0.74 727
    2022-11-01 $315,000 (7.0%) $352,903 (5.2%) 0.76 707
    2022-12-01 $313,990 (7.5%) $353,686 (9.4%) 0.78 678
    2023-01-01 $324,950 (6.9%) $363,500 (9.0%) 0.80 573
    2023-02-01 $326,974 (5.5%) $376,344 (11.2%) 0.79 528
    2023-03-01 $324,973 (1.5%) $380,845 (8.6%) 0.77 532
    2023-04-01 $329,900 (1.8%) $388,533 (7.6%) 0.77 522
    2023-05-01 $336,328 (4.0%) $398,237 (10.1%) 0.76 561
    2023-06-01 $341,495 (5.5%) $401,953 (9.0%) 0.77 562
    2023-07-01 $332,490 (5.4%) $396,278 (9.5%) 0.76 549
    2023-08-01 $330,775 (3.1%) $391,416 (9.3%) 0.76 550
    2023-09-01 $337,965 (4.9%) $408,837 (12.5%) 0.79 563
    2023-10-01 $338,990 (7.2%) $409,980 (13.8%) 0.80 629
    2023-11-01 $335,990 (6.7%) $412,867 (17.0%) 0.80 625
    2023-12-01 $345,000 (9.9%) $412,476 (16.6%) 0.84 581
    2024-01-01 $338,468 (4.2%) $417,600 (14.9%) 0.83 524
    2024-02-01 $343,740 (5.1%) $422,780 (12.3%) 0.83 473
    2024-03-01 $344,945 (6.2%) $420,193 (10.3%) 0.81 468
    Hagerstown's median listing price for 2024-03-01 was $344,945, a difference of $19,972 (6.2%) versus the prior year and $1,205 versus the prior month.

    Hagerstown's median listing price comes in at 81% of the national average.

    Hagerstown's average listing price for 2024-03-01 was $420,193, a difference of $39,348 (10.3%) versus the prior year and $-2,587 versus the prior month.

    For the 2024-03-01 period, Hagerstown had 468 MLS listings, a difference of -5 listings (-1%) versus the prior month and -64 listings (-12%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Hagerstown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 90 days 1,740 sqft
    2018-02-01 83 days 1,786 sqft
    2018-03-01 63 days 1,795 sqft
    2018-04-01 57 days 1,789 sqft
    2018-05-01 50 days 1,793 sqft
    2018-06-01 53 days 1,891 sqft
    2018-07-01 65 days 1,916 sqft
    2018-08-01 70 days 1,886 sqft
    2018-09-01 71 days 1,900 sqft
    2018-10-01 75 days 1,923 sqft
    2018-11-01 73 days 1,922 sqft
    2018-12-01 82 days 1,901 sqft
    2019-01-01 87 days 1,899 sqft
    2019-02-01 88 days 1,910 sqft
    2019-03-01 72 days 1,926 sqft
    2019-04-01 53 days 1,925 sqft
    2019-05-01 53 days 1,918 sqft
    2019-06-01 59 days 1,926 sqft
    2019-07-01 56 days 1,909 sqft
    2019-08-01 58 days 1,902 sqft
    2019-09-01 63 days 1,905 sqft
    2019-10-01 67 days 1,904 sqft
    2019-11-01 73 days 1,907 sqft
    2019-12-01 93 days 1,923 sqft
    2020-01-01 89 days 1,897 sqft
    2020-02-01 64 days 1,898 sqft
    2020-03-01 50 days 1,907 sqft
    2020-04-01 59 days 1,916 sqft
    2020-05-01 68 days 1,953 sqft
    2020-06-01 66 days 1,956 sqft
    2020-07-01 55 days 1,942 sqft
    2020-08-01 51 days 2,011 sqft
    2020-09-01 52 days 1,995 sqft
    2020-10-01 56 days 1,920 sqft
    2020-11-01 52 days 1,888 sqft
    2020-12-01 58 days 1,848 sqft
    2021-01-01 50 days 1,827 sqft
    2021-02-01 44 days 1,854 sqft
    2021-03-01 46 days 1,802 sqft
    2021-04-01 33 days 1,833 sqft
    2021-05-01 34 days 1,893 sqft
    2021-06-01 32 days 1,810 sqft
    2021-07-01 33 days 1,844 sqft
    2021-08-01 34 days 1,819 sqft
    2021-09-01 40 days 1,831 sqft
    2021-10-01 45 days 1,821 sqft
    2021-11-01 39 days 1,857 sqft
    2021-12-01 46 days 1,830 sqft
    2022-01-01 50 days 1,860 sqft
    2022-02-01 41 days 1,802 sqft
    2022-03-01 35 days 1,850 sqft
    2022-04-01 29 days 1,897 sqft
    2022-05-01 29 days 1,898 sqft
    2022-06-01 30 days 1,914 sqft
    2022-07-01 37 days 1,924 sqft
    2022-08-01 41 days 1,920 sqft
    2022-09-01 45 days 1,906 sqft
    2022-10-01 49 days 1,889 sqft
    2022-11-01 51 days 1,870 sqft
    2022-12-01 57 days 1,859 sqft
    2023-01-01 58 days 1,861 sqft
    2023-02-01 46 days 1,862 sqft
    2023-03-01 39 days 1,835 sqft
    2023-04-01 38 days 1,872 sqft
    2023-05-01 30 days 1,824 sqft
    2023-06-01 36 days 1,860 sqft
    2023-07-01 38 days 1,840 sqft
    2023-08-01 38 days 1,813 sqft
    2023-09-01 38 days 1,876 sqft
    2023-10-01 36 days 1,903 sqft
    2023-11-01 42 days 1,831 sqft
    2023-12-01 52 days 1,853 sqft
    2024-01-01 52 days 1,817 sqft
    2024-02-01 39 days 1,776 sqft
    2024-03-01 40 days 1,792 sqft
    Hagerstown's median listing age (time on market) for 2024-03-01 was 40 days. This is 4% longer than the same period one year ago.

    Hagerstown's median square footage for active listings during the 2024-03-01 period was 1,792 sqft. One year prior, the average listing was 1,835 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.