Harrisonburg VA Loan Rates, Closing Costs & Stats

HARRISONBURG, VA

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.

Harrisonburg's 44 lenders originated 117 VA loans during 2022. The total origination value was $40,795,000, with an average VA loan value of $348,675.

Harrisonburg VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Harrisonburg averaged 6.35% for the week of 2024-02-16, compared to the national average (all VA variants) of 6.462% for the same period.

Harrisonburg's average VA mortgage closing costs are $5,942.

The average rate for the prior week (2024-02-09) was 5.91% and one month ago for the week of 2024-01-12, the average rate was 5.96%.

The average rate one year ago was 5.73%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.17%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Harrisonburg 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 Harrisonburg level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 20 5.21% $9,736
NVR Mortgage Finance, Inc. 10 4.00% $7,740
QUICKEN LOANS, LLC 7 4.62% $8,857
NAVY FEDERAL CREDIT UNION 7 4.27% $5,865
LOANDEPOT.COM, LLC 5 3.80% $14,050
USAA Federal Savings Bank 5 4.63% $11,545
Integrity Home Mortgage Corp 5 4.88% $9,223
UNITED WHOLESALE MORTGAGE, LLC 5 3.75% $8,000
MOVEMENT MORTGAGE, LLC 3 5.04% $7,713
PENNYMAC LOAN SERVICES, LLC 3 3.75% $8,701
Alcova Mortgage LLC 3 6.13% $12,227
Wells Fargo Bank 2 4.56% $5,387
C & F Mortgage Corporation 2 5.56% $10,510
FREEDOM MORTGAGE CORPORATION 2 3.56% $10,229
Mid-Continent Funding, Inc. 2 2.88% $13,171
Atlantic Coast Mortgage, LLC 2 4.94% $13,276
MUTUAL OF OMAHA MORTGAGE, INC. 2 4.50% $4,581
Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $5,637
NBKC BANK 1 4.25% $8,689
NFM, INC. 1 5.50% $3,541
OVM FINANCIAL, INC. 1 4.25% $9,204
PENTAGON FEDERAL CREDIT UNION 1 5.50% $13,817
PLANET HOME LENDING, LLC 1 5.50% $7,927
Prosperity Home Mortgage, LLC 1 4.25% $16,974
The Federal Savings Bank 1 3.50% $15,004
TIDEWATER MORTGAGE SERVICES, INC. 1 7.13% $4,893
TJC Mortgage, Inc. 1 3.25% $10,278
MCLEAN MORTGAGE CORPORATION 1 2.75% $3,613
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 3.13% $9,519
CARDINAL FINANCIAL 1 4.63% $10,557
CBM Mortgage, Inc. 1 6.13% $6,179
Century Mortgage Company DBA Century Lending Company 1 3.25% $17,803
Citizens Bank 1 2.75% $1,352
CLEARPATH LENDING 1 4.75% $18,020
Equity Prime Mortgage LLC 1 6.75% $10,490
FINANCE OF AMERICA MORTGAGE LLC 1 3.75% $0
First Heritage Mortgage, LLC 1 6.88% $10,961
FIRST HOME MORTGAGE CORPORATION 1 3.75% $2,300
GSF Mortgage Corporation 1 7.13% $5,481
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 4.75% $17,204
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 4.88% $13,071
HOME POINT FINANCIAL CORPORATION 1 2.25% $2,046
HOMESIDE FINANCIAL, LLC 1 5.75% $11,471
LAKEVIEW LOAN SERVICING, LLC 1 4.50% $6,312

The top Harrisonburg VA lender as defined by loan originations is Mortgage Research Center, LLC, with 20 VA loans originated. Their average total fees are $9,736, which is $1,995 higher than the next largest lender, NVR Mortgage Finance, Inc..

The lowest fee Harrisonburg VA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. ($7,740), Mortgage Research Center, LLC ($9,736), .

The lowest rate Harrisonburg VA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. (4.00%), Mortgage Research Center, LLC (5.21%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Harrisonburg (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 $246,300 (10.8%) $367,059 (24.4%) 0.00 318
2018-02-01 $249,650 (8.1%) $379,654 (21.1%) 0.00 313
2018-03-01 $258,786 (8.0%) $374,763 (11.7%) 0.00 332
2018-04-01 $268,528 (3.3%) $373,098 (7.2%) 0.00 358
2018-05-01 $265,000 (-1.8%) $367,611 (5.1%) 0.00 377
2018-06-01 $263,000 (-4.3%) $371,162 (4.3%) 0.00 386
2018-07-01 $257,325 (-6.4%) $348,753 (-2.0%) 0.00 376
2018-08-01 $262,750 (5.1%) $349,041 (1.2%) 0.00 386
2018-09-01 $259,900 (4.0%) $340,025 (-1.7%) 0.00 369
2018-10-01 $259,800 (5.5%) $344,604 (1.0%) 0.00 363
2018-11-01 $262,400 (6.9%) $355,133 (2.7%) 0.00 352
2018-12-01 $260,000 (8.6%) $360,531 (0.8%) 0.00 324
2019-01-01 $259,575 (5.4%) $364,788 (-0.6%) 0.00 303
2019-02-01 $251,975 (0.9%) $356,539 (-6.1%) 0.00 299
2019-03-01 $265,100 (2.4%) $364,388 (-2.8%) 0.00 292
2019-04-01 $279,900 (4.2%) $367,892 (-1.4%) 0.00 287
2019-05-01 $286,000 (7.9%) $378,317 (2.9%) 0.00 291
2019-06-01 $299,825 (14.0%) $457,646 (23.3%) 0.00 306
2019-07-01 $299,900 (16.6%) $459,508 (31.8%) 0.00 308
2019-08-01 $298,427 (13.6%) $465,376 (33.3%) 0.00 308
2019-09-01 $296,218 (14.0%) $468,885 (37.9%) 0.00 308
2019-10-01 $291,750 (12.3%) $420,041 (21.9%) 0.00 301
2019-11-01 $288,250 (9.9%) $365,847 (3.0%) 0.00 270
2019-12-01 $285,225 (9.7%) $366,814 (1.7%) 0.00 222
2020-01-01 $289,675 (11.6%) $372,556 (2.1%) 0.00 197
2020-02-01 $294,500 (16.9%) $379,569 (6.5%) 0.00 196
2020-03-01 $307,423 (16.0%) $397,633 (9.1%) 0.00 202
2020-04-01 $296,893 (6.1%) $384,622 (4.6%) 0.00 229
2020-05-01 $299,900 (4.9%) $379,075 (0.2%) 0.00 232
2020-06-01 $307,400 (2.5%) $387,353 (-15.4%) 0.00 228
2020-07-01 $316,000 (5.4%) $401,696 (-12.6%) 0.00 219
2020-08-01 $317,500 (6.4%) $413,992 (-11.0%) 0.00 197
2020-09-01 $321,200 (8.4%) $430,337 (-8.2%) 0.00 160
2020-10-01 $309,450 (6.1%) $429,734 (2.3%) 0.00 173
2020-11-01 $298,500 (3.6%) $425,869 (16.4%) 0.00 171
2020-12-01 $299,495 (5.0%) $408,716 (11.4%) 0.00 149
2021-01-01 $305,000 (5.3%) $420,021 (12.7%) 0.00 127
2021-02-01 $300,498 (2.0%) $441,419 (16.3%) 0.00 115
2021-03-01 $289,250 (-5.9%) $445,483 (12.0%) 0.00 121
2021-04-01 $299,558 (0.9%) $453,737 (18.0%) 0.00 121
2021-05-01 $299,000 (-0.3%) $458,969 (21.1%) 0.00 115
2021-06-01 $310,275 (0.9%) $472,349 (21.9%) 0.00 109
2021-07-01 $310,400 (-1.8%) $467,010 (16.3%) 0.00 146
2021-08-01 $305,175 (-3.9%) $444,066 (7.3%) 0.00 141
2021-09-01 $303,173 (-5.6%) $431,942 (0.4%) 0.00 151
2021-10-01 $314,950 (1.8%) $454,599 (5.8%) 0.00 137
2021-11-01 $331,748 (11.1%) $478,252 (12.3%) 0.00 114
2021-12-01 $328,000 (9.5%) $467,558 (14.4%) 0.00 101
2022-01-01 $345,000 (13.1%) $451,078 (7.4%) 0.00 109
2022-02-01 $346,500 (15.3%) $457,987 (3.8%) 0.00 107
2022-03-01 $346,500 (19.8%) $431,325 (-3.2%) 0.00 124
2022-04-01 $349,000 (16.5%) $434,398 (-4.3%) 0.00 140
2022-05-01 $328,743 (10.0%) $410,885 (-10.5%) 0.00 139
2022-06-01 $346,248 (11.6%) $409,271 (-13.4%) 0.00 161
2022-07-01 $339,900 (9.5%) $402,076 (-13.9%) 0.00 168
2022-08-01 $343,975 (12.7%) $421,129 (-5.2%) 0.00 173
2022-09-01 $347,750 (14.7%) $443,518 (2.7%) 0.00 148
2022-10-01 $332,000 (5.4%) $445,297 (-2.1%) 0.00 151
2022-11-01 $347,750 (4.8%) $435,887 (-8.9%) 0.00 145
2022-12-01 $336,995 (2.7%) $436,177 (-6.7%) 0.00 135
2023-01-01 $347,948 (0.9%) $438,329 (-2.8%) 0.00 129
2023-02-01 $349,900 (1.0%) $433,207 (-5.4%) 0.00 116
2023-03-01 $348,950 (0.7%) $433,019 (0.4%) 0.00 119
2023-04-01 $362,495 (3.9%) $449,558 (3.5%) 0.00 125
2023-05-01 $354,950 (8.0%) $446,274 (8.6%) 0.00 132
2023-06-01 $377,445 (9.0%) $451,962 (10.4%) 0.00 142
2023-07-01 $382,495 (12.5%) $451,473 (12.3%) 0.00 151
2023-08-01 $388,498 (12.9%) $469,120 (11.4%) 0.00 186
2023-09-01 $383,495 (10.3%) $479,384 (8.1%) 0.00 203
2023-10-01 $380,995 (14.8%) $481,296 (8.1%) 0.00 215
2023-11-01 $369,968 (6.4%) $466,798 (7.1%) 0.00 235
2023-12-01 $369,990 (9.8%) $471,382 (8.1%) 0.00 217
Harrisonburg's median listing price for 2023-12-01 was $369,990, a difference of $32,995 (9.8%) versus the prior year and $22 versus the prior month.

Harrisonburg's median listing price comes in at 0% of the national average.

Harrisonburg's average listing price for 2023-12-01 was $471,382, a difference of $35,205 (8.1%) versus the prior year and $4,584 versus the prior month.

For the 2023-12-01 period, Harrisonburg had 217 MLS listings, a difference of -18 listings (-8%) versus the prior month and 82 listings (61%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Harrisonburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,921 sqft
2018-02-01 0 days 1,983 sqft
2018-03-01 0 days 2,000 sqft
2018-04-01 0 days 2,017 sqft
2018-05-01 0 days 1,997 sqft
2018-06-01 0 days 1,986 sqft
2018-07-01 0 days 1,979 sqft
2018-08-01 0 days 1,989 sqft
2018-09-01 0 days 2,009 sqft
2018-10-01 0 days 1,947 sqft
2018-11-01 0 days 2,029 sqft
2018-12-01 0 days 2,028 sqft
2019-01-01 0 days 2,018 sqft
2019-02-01 0 days 1,895 sqft
2019-03-01 0 days 1,982 sqft
2019-04-01 0 days 2,096 sqft
2019-05-01 0 days 2,147 sqft
2019-06-01 0 days 2,203 sqft
2019-07-01 0 days 2,191 sqft
2019-08-01 0 days 2,174 sqft
2019-09-01 0 days 2,146 sqft
2019-10-01 0 days 2,113 sqft
2019-11-01 0 days 2,100 sqft
2019-12-01 0 days 2,101 sqft
2020-01-01 0 days 2,070 sqft
2020-02-01 0 days 2,099 sqft
2020-03-01 0 days 2,154 sqft
2020-04-01 0 days 2,080 sqft
2020-05-01 0 days 2,099 sqft
2020-06-01 0 days 2,106 sqft
2020-07-01 0 days 2,080 sqft
2020-08-01 0 days 2,094 sqft
2020-09-01 0 days 2,090 sqft
2020-10-01 0 days 1,950 sqft
2020-11-01 0 days 1,866 sqft
2020-12-01 0 days 1,776 sqft
2021-01-01 0 days 1,800 sqft
2021-02-01 0 days 1,788 sqft
2021-03-01 0 days 1,781 sqft
2021-04-01 0 days 1,785 sqft
2021-05-01 0 days 1,839 sqft
2021-06-01 0 days 1,841 sqft
2021-07-01 0 days 1,845 sqft
2021-08-01 0 days 1,839 sqft
2021-09-01 0 days 1,822 sqft
2021-10-01 0 days 1,742 sqft
2021-11-01 0 days 1,837 sqft
2021-12-01 0 days 1,791 sqft
2022-01-01 0 days 1,841 sqft
2022-02-01 0 days 1,854 sqft
2022-03-01 0 days 1,854 sqft
2022-04-01 0 days 1,863 sqft
2022-05-01 0 days 1,680 sqft
2022-06-01 0 days 1,797 sqft
2022-07-01 0 days 1,797 sqft
2022-08-01 0 days 1,871 sqft
2022-09-01 0 days 1,893 sqft
2022-10-01 0 days 1,908 sqft
2022-11-01 0 days 1,900 sqft
2022-12-01 0 days 1,848 sqft
2023-01-01 0 days 1,869 sqft
2023-02-01 0 days 1,866 sqft
2023-03-01 0 days 1,796 sqft
2023-04-01 0 days 1,854 sqft
2023-05-01 0 days 1,813 sqft
2023-06-01 0 days 1,907 sqft
2023-07-01 0 days 1,933 sqft
2023-08-01 0 days 1,976 sqft
2023-09-01 0 days 1,947 sqft
2023-10-01 0 days 1,950 sqft
2023-11-01 0 days 1,921 sqft
2023-12-01 0 days 1,909 sqft
Harrisonburg's median listing age (time on market) for 2023-12-01 was 0 days.

Harrisonburg's median square footage for active listings during the 2023-12-01 period was 1,909 sqft. One year prior, the average listing was 1,848 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.