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 116 lenders originated 1,037 VA loans during 2022. The total origination value was $333,885,000, with an average VA loan value of $321,972.

    Hagerstown VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Hagerstown averaged -0.3% for the week of 2023-11-24, compared to the national average (all VA variants) of 0% for the same period.

    Hagerstown's average VA mortgage closing costs are $6,055.

    The average rate for the prior week (2023-11-17) was 6.75% and one month ago for the week of 2023-10-20, the average rate was 6.98%.

    The average rate one year ago was 6.29%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.23%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 140 4.85% $8,368
    QUICKEN LOANS, LLC 75 4.09% $12,152
    NAVY FEDERAL CREDIT UNION 54 3.78% $8,623
    NVR Mortgage Finance, Inc. 54 4.33% $7,790
    LOANDEPOT.COM, LLC 45 4.18% $10,862
    Integrity Home Mortgage Corp 44 5.14% $11,006
    FREEDOM MORTGAGE CORPORATION 40 4.60% $12,148
    PENNYMAC LOAN SERVICES, LLC 38 3.36% $9,284
    UNITED WHOLESALE MORTGAGE, LLC 31 4.63% $9,582
    PRIMELENDING, A PLAINSCAPITAL COMPANY 29 4.86% $8,386
    The Federal Savings Bank 25 4.42% $13,606
    Sierra Pacific Mortgage Company, Inc. 21 4.73% $9,619
    USAA Federal Savings Bank 20 4.49% $7,745
    HOMESPIRE MORTGAGE CORPORATION 20 4.74% $9,179
    EMBRACE HOME LOANS, INC. 15 4.56% $11,897
    FIRST HOME MORTGAGE CORPORATION 14 4.99% $12,710
    CALIBER HOME LOANS, INC. 14 4.17% $9,186
    VILLAGE CAPITAL MORTGAGE 12 3.52% $11,501
    HOMEAMERICAN MORTGAGE CORPORATION 11 4.08% $12,322
    MCLEAN MORTGAGE CORPORATION 11 4.14% $3,433
    Mr. Cooper ( Nationstar Mortgage ) 11 3.69% $6,896
    Atlantic Coast Mortgage, LLC 10 5.19% $11,424
    CBM Mortgage, Inc. 10 5.33% $11,682
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 4.75% $7,308
    UNION HOME MORTGAGE CORP. 9 3.81% $9,244
    George Mason Mortgage, LLC 8 5.14% $7,433
    CONTOUR MORTGAGE CORPORATION 8 5.28% $13,652
    PENTAGON FEDERAL CREDIT UNION 7 3.39% $5,224
    NEW DAY FINANCIAL, LLC 7 5.10% $10,911
    FINANCE OF AMERICA MORTGAGE LLC 6 4.06% $16,353
    Magnolia Bank 6 4.38% $11,996
    AMERISAVE MORTGAGE CORPORATION 6 3.81% $11,833
    NFM, INC. 6 4.71% $9,686
    BROKER SOLUTIONS, INC. 6 5.08% $11,015
    NEWREZ LLC 5 4.00% $15,343
    CROSSCOUNTRY MORTGAGE, LLC 5 4.30% $7,750
    DHI MORTGAGE COMPANY, LTD. 5 3.62% $6,803
    Barrington Bank & Trust Company, N.A. 5 4.75% $8,077
    MOVEMENT MORTGAGE, LLC 5 4.95% $8,710
    INTERCOASTAL MORTGAGE COMPANY 5 4.15% $6,222
    Wells Fargo Bank 5 4.65% $5,356
    LAKEVIEW LOAN SERVICING, LLC 5 3.13% $1,942
    Prosperity Home Mortgage, LLC 5 4.55% $12,932
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 5 5.08% $9,313
    Carrington Mortgage Services, LLC 4 5.28% $6,895
    GUILD MORTGAGE COMPANY 4 3.97% $7,885
    BAY CAPITAL MORTGAGE CORPORATION 4 3.66% $9,134
    Meridian Bank Corporation 4 4.97% $5,116
    First Heritage Mortgage, LLC 4 4.72% $6,915
    DAS Acquisition Company, LLC 3 5.29% $15,122
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 5.33% $12,900
    CMG MORTGAGE, INC. 3 5.42% $11,372
    Flagstar Bank, FSB 3 4.93% $11,563
    NBKC BANK 3 3.71% $6,266
    North American Savings Bank, F.S.B. 3 4.67% $13,536
    PATRIOT 3 3.71% $10,328
    PLANET HOME LENDING, LLC 3 4.58% $18,357
    SECURITYNATIONAL MORTGAGE COMPANY 3 5.00% $19,468
    Shore United Bank 3 4.33% $9,875
    TJC Mortgage, Inc. 3 3.67% $20,542
    Towne Bank 3 5.17% $15,206
    Mid-Continent Funding, Inc. 2 5.94% $11,043
    MILLENNIUM FINANCIAL GROUP, INC. 2 5.75% $23,558
    Equity Prime Mortgage LLC 2 6.06% $17,681
    Nations Lending Corporation 2 4.31% $9,151
    CNB Bank Inc. 2 4.31% $18,394
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 5.94% $15,820
    CARDINAL FINANCIAL 2 5.25% $12,078
    Texana Bank 2 4.00% $8,766
    THE MORTGAGE LINK, INC. 2 4.63% $9,553
    TIDEWATER MORTGAGE SERVICES, INC. 2 3.25% $9,527
    ACADEMY MORTGAGE CORPORATION 2 5.19% $6,794
    LIBERTY HOME MORTGAGE CORPORATION 2 4.44% $11,259
    GUARANTEED RATE, INC. 2 5.31% $5,357
    GSF Mortgage Corporation 2 6.88% $9,680
    AMERICAN FINANCING CORPORATION 1 3.25% $10,562
    Northpointe Bank 1 5.25% $2,863
    Northwest Federal Credit Union 1 4.00% $2,955
    Citizens Bank 1 5.25% $10,554
    Paramount Residential Mortgage Group, Inc. 1 4.25% $5,853
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.63% $3,861
    CIS Financial Services, Inc. 1 5.88% $5,786
    CHURCHILL MORTGAGE CORPORATION 1 4.88% $16,340
    Plains Commerce Bank 1 5.00% $2,752
    Vellum Mortgage, Inc. 1 6.00% $20,658
    PNC Bank 1 3.75% $2,557
    Presidential Bank, FSB 1 5.25% $20,385
    Truist 1 3.25% $9,260
    Century Mortgage Company DBA Century Lending Company 1 2.75% $6,068
    CASTLE & COOKE MORTGAGE, LLC 1 5.75% $17,979
    LAND HOME FINANCIAL SERVICES, INC. 1 6.50% $3,375
    RELIANCE FIRST CAPITAL, LLC 1 6.00% $6,546
    Sandy Spring Bank 1 7.13% $9,560
    ALLIED MORTGAGE GROUP, INC. 1 4.88% $5,790
    Waterstone Mortgage Corporation 1 6.63% $15,107
    Blue Ridge Bank 1 2.63% $10,020
    SOVEREIGN LENDING GROUP INCORPORATED 1 4.75% $7,721
    Strong Home Mortgage, LLC 1 3.38% $13,967
    SUN WEST MORTGAGE COMPANY, INC. 1 5.38% $18,076
    SWBC MORTGAGE CORPORATION 1 4.75% $20,402
    GUARANTEED RATE AFFINITY, LLC 1 4.75% $14,918
    The Central Trust Bank 1 5.25% $5,238
    BELEM SERVICING LLC 1 1.75% $6,848
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.38% $1,476
    MORTGAGE ACCESS CORP. 1 4.88% $2,830
    First Home Bank 1 3.13% $3,249
    First Federal Bank 1 5.49% $11,445
    LOANPAL, LLC 1 4.38% $9,164
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $9,885
    NATIONS DIRECT MORTGAGE, LLC 1 2.75% $7,155
    MICHIGAN MUTUAL, INC. 1 5.63% $8,811
    EMM LOANS LLC 1 3.38% $11,440
    Armed Forces Bank 1 4.25% $11,410
    1ST FINANCIAL, INC. 1 5.50% $13,688
    West Town Bank & Trust 1 4.38% $14,358
    CLEARPATH LENDING 1 5.63% $2,253

    The top Hagerstown VA lender as defined by loan originations is Mortgage Research Center, LLC, with 140 VA loans originated. Their average total fees are $8,368, which is $3,784 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Hagerstown VA lenders (with over 10 loans originated) are MCLEAN MORTGAGE CORPORATION ($3,433), Mr. Cooper ( Nationstar Mortgage ) ($6,896), USAA Federal Savings Bank ($7,745), NVR Mortgage Finance, Inc. ($7,790) and Mortgage Research Center, LLC ($8,368).

    The lowest rate Hagerstown VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.36%), VILLAGE CAPITAL MORTGAGE (3.52%), Mr. Cooper ( Nationstar Mortgage ) (3.69%), NAVY FEDERAL CREDIT UNION (3.78%) and HOMEAMERICAN MORTGAGE CORPORATION (4.08%).

    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%) $226,923 (4.0%) 0.76 1,192
    2018-02-01 $209,990 (9.1%) $231,965 (5.9%) 0.76 1,192
    2018-03-01 $219,000 (10.5%) $239,395 (6.7%) 0.77 1,203
    2018-04-01 $219,900 (10.0%) $239,614 (5.8%) 0.75 1,299
    2018-05-01 $224,900 (8.4%) $246,154 (6.4%) 0.75 1,404
    2018-06-01 $225,000 (7.2%) $249,192 (6.2%) 0.75 1,492
    2018-07-01 $229,900 (10.6%) $250,755 (6.0%) 0.77 1,497
    2018-08-01 $229,450 (10.6%) $250,648 (5.7%) 0.77 1,528
    2018-09-01 $229,000 (9.1%) $251,588 (6.6%) 0.77 1,473
    2018-10-01 $229,900 (9.5%) $249,816 (7.2%) 0.78 1,465
    2018-11-01 $229,900 (11.0%) $251,958 (8.9%) 0.78 1,470
    2018-12-01 $229,900 (15.0%) $250,332 (11.6%) 0.79 1,359
    2019-01-01 $229,900 (12.2%) $251,455 (10.8%) 0.79 1,265
    2019-02-01 $229,998 (9.5%) $256,171 (10.4%) 0.78 1,258
    2019-03-01 $234,190 (6.9%) $259,209 (8.3%) 0.77 1,273
    2019-04-01 $234,675 (6.7%) $261,254 (9.0%) 0.75 1,337
    2019-05-01 $235,000 (4.5%) $262,371 (6.6%) 0.73 1,404
    2019-06-01 $237,945 (5.8%) $265,083 (6.4%) 0.74 1,448
    2019-07-01 $229,950 (0.0%) $262,779 (4.8%) 0.72 1,490
    2019-08-01 $232,627 (1.4%) $264,338 (5.5%) 0.74 1,477
    2019-09-01 $236,718 (3.4%) $266,950 (6.1%) 0.76 1,454
    2019-10-01 $239,445 (4.2%) $268,405 (7.4%) 0.77 1,428
    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 (4.6%) $279,653 (7.9%) 0.77 959
    2020-04-01 $246,445 (5.0%) $280,145 (7.2%) 0.77 937
    2020-05-01 $249,000 (6.0%) $285,929 (9.0%) 0.76 849
    2020-06-01 $246,075 (3.4%) $284,390 (7.3%) 0.72 745
    2020-07-01 $249,990 (8.7%) $286,115 (8.9%) 0.72 658
    2020-08-01 $256,445 (10.2%) $291,379 (10.2%) 0.73 587
    2020-09-01 $259,445 (9.6%) $293,291 (9.9%) 0.74 563
    2020-10-01 $252,990 (5.7%) $287,603 (7.2%) 0.72 541
    2020-11-01 $254,470 (6.1%) $288,427 (7.4%) 0.74 498
    2020-12-01 $258,950 (7.9%) $286,298 (5.1%) 0.77 461
    2021-01-01 $267,045 (13.1%) $290,372 (7.5%) 0.80 411
    2021-02-01 $261,675 (7.3%) $292,739 (5.8%) 0.76 304
    2021-03-01 $263,000 (7.4%) $294,755 (5.4%) 0.75 304
    2021-04-01 $274,225 (11.3%) $309,376 (10.4%) 0.74 287
    2021-05-01 $274,995 (10.4%) $325,226 (13.7%) 0.73 299
    2021-06-01 $268,650 (9.2%) $326,492 (14.8%) 0.71 373
    2021-07-01 $279,450 (11.8%) $328,033 (14.7%) 0.74 449
    2021-08-01 $282,500 (10.2%) $343,322 (17.8%) 0.75 479
    2021-09-01 $282,950 (9.1%) $338,296 (15.3%) 0.75 455
    2021-10-01 $280,000 (10.7%) $332,988 (15.8%) 0.75 454
    2021-11-01 $294,675 (15.8%) $339,010 (17.5%) 0.79 476
    2021-12-01 $293,748 (13.4%) $327,511 (14.4%) 0.80 434
    2022-01-01 $305,045 (14.2%) $338,221 (16.5%) 0.82 364
    2022-02-01 $310,245 (18.6%) $343,373 (17.3%) 0.81 314
    2022-03-01 $321,123 (22.1%) $351,630 (19.3%) 0.80 316
    2022-04-01 $323,490 (18.0%) $360,981 (16.7%) 0.77 354
    2022-05-01 $323,445 (17.6%) $361,648 (11.2%) 0.74 455
    2022-06-01 $323,745 (20.5%) $368,743 (12.9%) 0.72 532
    2022-07-01 $315,490 (12.9%) $361,720 (10.3%) 0.71 632
    2022-08-01 $320,945 (13.6%) $358,125 (4.3%) 0.74 654
    2022-09-01 $322,225 (13.9%) $363,914 (7.6%) 0.75 665
    2022-10-01 $317,995 (13.6%) $360,813 (8.4%) 0.75 728
    2022-11-01 $315,000 (6.9%) $353,294 (4.2%) 0.76 708
    2022-12-01 $314,445 (7.1%) $354,149 (8.1%) 0.78 679
    2023-01-01 $324,950 (6.5%) $363,985 (7.6%) 0.81 574
    2023-02-01 $327,450 (5.6%) $376,823 (9.7%) 0.79 529
    2023-03-01 $324,973 (1.2%) $381,019 (8.4%) 0.77 533
    2023-04-01 $329,900 (2.0%) $389,018 (7.8%) 0.77 523
    2023-05-01 $336,328 (4.0%) $397,961 (10.0%) 0.76 561
    2023-06-01 $341,493 (5.5%) $401,702 (8.9%) 0.77 562
    2023-07-01 $332,490 (5.4%) $395,737 (9.4%) 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 (12.3%) 0.79 563
    2023-10-01 $338,990 (6.6%) $409,980 (13.6%) 0.80 629
    Hagerstown's median listing price for 2023-10-01 was $338,990, a difference of $20,995 (6.6%) versus the prior year and $1,025 versus the prior month.

    Hagerstown's median listing price comes in at 80% of the national average.

    Hagerstown's average listing price for 2023-10-01 was $409,980, a difference of $49,167 (13.6%) versus the prior year and $1,143 versus the prior month.

    For the 2023-10-01 period, Hagerstown had 629 MLS listings, a difference of 66 listings (12%) versus the prior month and -99 listings (-14%) 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 1,731 sqft
    2018-02-01 83 days 1,778 sqft
    2018-03-01 63 days 1,791 sqft
    2018-04-01 57 days 1,784 sqft
    2018-05-01 50 days 1,787 sqft
    2018-06-01 53 days 1,890 sqft
    2018-07-01 65 days 1,915 sqft
    2018-08-01 70 days 1,886 sqft
    2018-09-01 71 days 1,900 sqft
    2018-10-01 75 days 1,922 sqft
    2018-11-01 73 days 1,926 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 1,925 sqft
    2019-04-01 53 days 1,924 sqft
    2019-05-01 53 days 1,918 sqft
    2019-06-01 59 days 1,922 sqft
    2019-07-01 56 days 1,908 sqft
    2019-08-01 57 days 1,902 sqft
    2019-09-01 62 days 1,904 sqft
    2019-10-01 67 days 1,903 sqft
    2019-11-01 73 days 1,907 sqft
    2019-12-01 93 days 1,923 sqft
    2020-01-01 89 days 1,896 sqft
    2020-02-01 64 days 1,898 sqft
    2020-03-01 50 days 1,906 sqft
    2020-04-01 59 days 1,915 sqft
    2020-05-01 68 days 1,944 sqft
    2020-06-01 66 days 1,951 sqft
    2020-07-01 55 days 1,934 sqft
    2020-08-01 52 days 2,002 sqft
    2020-09-01 52 days 1,992 sqft
    2020-10-01 55 days 1,920 sqft
    2020-11-01 53 days 1,886 sqft
    2020-12-01 59 days 1,837 sqft
    2021-01-01 50 days 1,820 sqft
    2021-02-01 44 days 1,848 sqft
    2021-03-01 46 days 1,799 sqft
    2021-04-01 33 days 1,823 sqft
    2021-05-01 33 days 1,881 sqft
    2021-06-01 33 days 1,810 sqft
    2021-07-01 33 days 1,844 sqft
    2021-08-01 34 days 1,826 sqft
    2021-09-01 40 days 1,831 sqft
    2021-10-01 45 days 1,822 sqft
    2021-11-01 40 days 1,857 sqft
    2021-12-01 46 days 1,836 sqft
    2022-01-01 50 days 1,863 sqft
    2022-02-01 41 days 1,809 sqft
    2022-03-01 35 days 1,851 sqft
    2022-04-01 28 days 1,899 sqft
    2022-05-01 29 days 1,899 sqft
    2022-06-01 30 days 1,915 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 1,890 sqft
    2022-11-01 51 days 1,871 sqft
    2022-12-01 58 days 1,859 sqft
    2023-01-01 59 days 1,865 sqft
    2023-02-01 47 days 1,863 sqft
    2023-03-01 39 days 1,842 sqft
    2023-04-01 38 days 1,874 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
    Hagerstown's median listing age (time on market) for 2023-10-01 was 36 days. This is -27% shorter than the same period one year ago.

    Hagerstown's median square footage for active listings during the 2023-10-01 period was 1,903 sqft. One year prior, the average listing was 1,890 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.