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 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 6.79% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

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

The average rate for the prior week (2024-04-05) was 6.54% and one month ago for the week of 2024-03-08, the average rate was 6.27%.

The average rate one year ago was 5.96%.

For refis of the same type during the week of 2024-04-12, the average rate was 7.1%.

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.