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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.