Hagerstown VA Loan Rates, Closing Costs & Stats

HAGERSTOWN-MARTINSBURG, MD-WV

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.