Hilo VA Loan Rates, Closing Costs & Stats

Hilo, HI

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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.

    Hilo's 41 lenders originated 215 VA loans during 2023. The total origination value was $109,805,000, with an average VA loan value of $510,721.

    Hilo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Hilo averaged 0.45% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Hilo's average VA mortgage closing costs are $8,466.

    The average rate for the prior week (2024-11-08) was 6.55% and one month ago for the week of 2024-10-11, the average rate was 6.02%.

    The average rate one year ago was 7.41%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.53%.

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

    Hilo 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 Hilo level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 36 6.46% $7,558
    AMERICAN PACIFIC MORTGAGE CORPORATION 21 6.08% $14,461
    UNITED WHOLESALE MORTGAGE, LLC 20 6.17% $16,485
    QUICKEN LOANS, LLC 14 5.90% $18,062
    FREEDOM MORTGAGE CORPORATION 13 6.27% $19,172
    V.I.P. MORTGAGE, INC. 12 6.35% $18,688
    NAVY FEDERAL CREDIT UNION 9 5.86% $12,555
    Nations Lending Corporation 7 6.18% $10,026
    GUARANTEED RATE, INC. 7 6.13% $6,661
    LAND HOME FINANCIAL SERVICES, INC. 6 5.71% $11,023
    LOANDEPOT.COM, LLC 6 5.89% $15,607
    DAS Acquisition Company, LLC 6 7.04% $8,135
    The Federal Savings Bank 5 6.53% $25,339
    PENNYMAC LOAN SERVICES, LLC 4 5.34% $22,202
    CMG MORTGAGE, INC. 4 6.19% $16,322
    Century Mortgage Company DBA Century Lending Company 3 6.13% $15,922
    Barrington Bank & Trust Company, N.A. 3 5.58% $7,364
    USAA Federal Savings Bank 3 6.00% $18,055
    MASON MCDUFFIE MORTGAGE CORPORATION 3 6.42% $16,450
    NEWREZ LLC 3 6.54% $14,033
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.44% $10,480
    CROSSCOUNTRY MORTGAGE, LLC 2 7.00% $18,096
    Bank of Hawaii 2 6.75% $13,122
    SOVEREIGN LENDING GROUP INCORPORATED 2 6.75% $9,010
    Plains Commerce Bank 2 5.50% $13,675
    NEW DAY FINANCIAL, LLC 2 8.25% $12,026
    Paramount Residential Mortgage Group, Inc. 2 7.06% $20,394
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.63% $14,152
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $15,949
    American Mortgage & Equity Consultants, Inc. 1 7.25% $7,382
    American Savings Bank, FSB 1 5.50% $20,616
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.75% $4,231
    GUILD MORTGAGE COMPANY 1 6.63% $11,261
    HighTechLending Inc 1 5.25% $15,215
    LOANPAL, LLC 1 5.00% $20,934
    Magnolia Bank 1 5.75% $36,355
    MANN FINANCIAL INC. 1 5.50% $5,841
    MID AMERICA MORTGAGE, INC. 1 8.25% $10,094
    Mr. Cooper ( Nationstar Mortgage ) 1 5.25% $14,734
    NFM, INC. 1 5.63% $17,150
    ACADEMY MORTGAGE CORPORATION 1 5.38% $21,097

    The top Hilo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 36 VA loans originated. Their average total fees are $7,558, which is $6,903 lower than the next largest lender, AMERICAN PACIFIC MORTGAGE CORPORATION.

    The lowest fee Hilo VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,558), AMERICAN PACIFIC MORTGAGE CORPORATION ($14,461), UNITED WHOLESALE MORTGAGE, LLC ($16,485), QUICKEN LOANS, LLC ($18,062) and V.I.P. MORTGAGE, INC. ($18,688).

    The lowest rate Hilo VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.90%), AMERICAN PACIFIC MORTGAGE CORPORATION (6.08%), UNITED WHOLESALE MORTGAGE, LLC (6.17%), FREEDOM MORTGAGE CORPORATION (6.27%) and V.I.P. MORTGAGE, INC. (6.35%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Hilo (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 $499,500 (0.1%) $1,027,693 (3.5%) 1.85 1,446
    2018-02-01 $499,000 (0.2%) $1,021,937 (4.8%) 1.81 1,477
    2018-03-01 $499,000 (1.7%) $1,027,015 (7.6%) 1.75 1,398
    2018-04-01 $499,000 (1.4%) $999,257 (1.5%) 1.69 1,357
    2018-05-01 $499,000 (5.2%) $1,015,049 (1.9%) 1.67 1,317
    2018-06-01 $499,000 (5.8%) $1,017,797 (3.3%) 1.66 1,352
    2018-07-01 $499,350 (4.1%) $1,016,596 (3.0%) 1.67 1,361
    2018-08-01 $499,000 (2.0%) $1,011,483 (-1.6%) 1.67 1,374
    2018-09-01 $479,000 (-1.2%) $986,136 (-3.2%) 1.61 1,366
    2018-10-01 $459,375 (-3.6%) $940,464 (-4.3%) 1.56 1,385
    2018-11-01 $452,500 (-4.1%) $914,093 (-4.8%) 1.53 1,458
    2018-12-01 $469,900 (-3.9%) $971,167 (-0.2%) 1.62 1,502
    2019-01-01 $484,000 (-3.1%) $982,233 (-4.4%) 1.67 1,587
    2019-02-01 $484,500 (-2.9%) $1,010,645 (-1.1%) 1.64 1,616
    2019-03-01 $480,857 (-3.6%) $1,013,424 (-1.3%) 1.57 1,588
    2019-04-01 $469,750 (-5.9%) $1,012,014 (1.3%) 1.49 1,573
    2019-05-01 $467,375 (-6.3%) $1,018,600 (0.4%) 1.46 1,537
    2019-06-01 $449,900 (-9.8%) $1,007,027 (-1.1%) 1.41 1,514
    2019-07-01 $449,450 (-10.0%) $993,279 (-2.3%) 1.41 1,481
    2019-08-01 $443,545 (-11.1%) $1,017,687 (0.6%) 1.40 1,465
    2019-09-01 $435,364 (-9.1%) $1,015,669 (3.0%) 1.39 1,438
    2019-10-01 $432,409 (-5.9%) $1,022,247 (8.7%) 1.40 1,418
    2019-11-01 $439,250 (-2.9%) $1,043,382 (14.1%) 1.44 1,444
    2019-12-01 $429,000 (-8.7%) $1,035,821 (6.7%) 1.43 1,443
    2020-01-01 $444,450 (-8.2%) $1,065,904 (8.5%) 1.49 1,397
    2020-02-01 $447,000 (-7.7%) $1,086,716 (7.5%) 1.46 1,368
    2020-03-01 $430,950 (-10.4%) $1,065,382 (5.1%) 1.35 1,380
    2020-04-01 $419,675 (-10.7%) $994,660 (-1.7%) 1.31 1,318
    2020-05-01 $449,000 (-3.9%) $1,021,978 (0.3%) 1.36 1,297
    2020-06-01 $461,500 (2.6%) $1,044,978 (3.8%) 1.36 1,271
    2020-07-01 $458,500 (2.0%) $1,095,762 (10.3%) 1.33 1,171
    2020-08-01 $449,900 (1.4%) $1,120,367 (10.1%) 1.29 1,122
    2020-09-01 $491,125 (12.8%) $1,215,921 (19.7%) 1.41 1,028
    2020-10-01 $499,000 (15.4%) $1,294,728 (26.7%) 1.43 1,002
    2020-11-01 $499,000 (13.6%) $1,283,744 (23.0%) 1.46 956
    2020-12-01 $499,000 (16.3%) $1,330,888 (28.5%) 1.48 910
    2021-01-01 $499,000 (12.3%) $1,325,019 (24.3%) 1.49 832
    2021-02-01 $488,750 (9.3%) $1,356,891 (24.9%) 1.42 662
    2021-03-01 $490,000 (13.7%) $1,453,456 (36.4%) 1.39 557
    2021-04-01 $476,000 (13.4%) $1,344,306 (35.2%) 1.29 525
    2021-05-01 $540,000 (20.3%) $1,232,227 (20.6%) 1.43 464
    2021-06-01 $563,875 (22.2%) $1,305,742 (25.0%) 1.48 444
    2021-07-01 $549,500 (19.9%) $1,297,349 (18.4%) 1.45 411
    2021-08-01 $550,000 (22.3%) $1,227,367 (9.6%) 1.47 436
    2021-09-01 $577,500 (17.6%) $1,163,722 (-4.3%) 1.54 494
    2021-10-01 $549,000 (10.0%) $1,226,055 (-5.3%) 1.46 492
    2021-11-01 $525,000 (5.2%) $1,368,781 (6.6%) 1.40 487
    2021-12-01 $538,000 (7.8%) $1,335,776 (0.4%) 1.46 468
    2022-01-01 $527,000 (5.6%) $1,485,071 (12.1%) 1.42 453
    2022-02-01 $517,500 (5.9%) $1,444,549 (6.5%) 1.35 453
    2022-03-01 $512,875 (4.7%) $1,418,551 (-2.4%) 1.28 455
    2022-04-01 $515,000 (8.2%) $1,370,457 (2.0%) 1.23 444
    2022-05-01 $564,500 (4.5%) $1,336,610 (8.5%) 1.29 497
    2022-06-01 $627,000 (11.2%) $1,277,921 (-2.1%) 1.40 571
    2022-07-01 $649,000 (18.1%) $1,225,441 (-5.5%) 1.46 684
    2022-08-01 $640,750 (16.5%) $1,217,395 (-0.8%) 1.48 702
    2022-09-01 $625,000 (8.2%) $1,189,718 (2.2%) 1.46 680
    2022-10-01 $599,950 (9.3%) $1,177,805 (-3.9%) 1.41 727
    2022-11-01 $605,500 (15.3%) $1,160,231 (-15.2%) 1.46 758
    2022-12-01 $599,000 (11.3%) $1,162,843 (-13.0%) 1.48 778
    2023-01-01 $630,000 (19.5%) $1,329,581 (-10.5%) 1.56 750
    2023-02-01 $599,250 (15.8%) $1,305,048 (-9.7%) 1.45 747
    2023-03-01 $628,000 (22.5%) $1,388,714 (-2.1%) 1.48 707
    2023-04-01 $645,000 (25.2%) $1,409,083 (2.8%) 1.50 661
    2023-05-01 $616,972 (9.3%) $1,377,894 (3.1%) 1.40 638
    2023-06-01 $610,625 (-2.6%) $1,424,037 (11.4%) 1.37 658
    2023-07-01 $598,000 (-7.9%) $1,355,545 (10.6%) 1.36 690
    2023-08-01 $583,250 (-9.0%) $1,363,697 (12.0%) 1.34 677
    2023-09-01 $595,000 (-4.8%) $1,369,956 (15.2%) 1.39 693
    2023-10-01 $620,000 (3.3%) $1,390,206 (18.0%) 1.46 717
    2023-11-01 $646,925 (6.8%) $1,400,273 (20.7%) 1.54 780
    2023-12-01 $645,000 (7.7%) $1,410,416 (21.3%) 1.57 818
    2024-01-01 $645,250 (2.4%) $1,329,859 (0.0%) 1.58 846
    2024-02-01 $633,250 (5.7%) $1,297,565 (-0.6%) 1.52 880
    2024-03-01 $645,000 (2.7%) $1,346,637 (-3.0%) 1.52 868
    2024-04-01 $647,750 (0.4%) $1,444,540 (2.5%) 1.51 886
    2024-05-01 $651,750 (5.6%) $1,418,292 (2.9%) 1.47 884
    2024-06-01 $641,000 (5.0%) $1,432,869 (0.6%) 1.44 942
    2024-07-01 $633,500 (5.9%) $1,405,452 (3.7%) 1.45 1,015
    2024-08-01 $650,000 (11.4%) $1,399,803 (2.7%) 1.51 1,044
    2024-09-01 $654,750 (10.0%) $1,315,641 (-4.0%) 1.54 1,031
    2024-10-01 $646,821 (4.3%) $1,326,353 (-4.6%) 1.52 1,029
    Hilo's median listing price for 2024-10-01 was $646,821, a difference of $26,821 (4.3%) versus the prior year and $-7,929 versus the prior month.

    Hilo's median listing price comes in at 152% of the national average.

    Hilo's average listing price for 2024-10-01 was $1,326,353, a difference of $-63,853 (-4.6%) versus the prior year and $10,712 versus the prior month.

    For the 2024-10-01 period, Hilo had 1,029 MLS listings, a difference of -2 listings (0%) versus the prior month and 312 listings (44%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Hilo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 91 days 1,565 sqft
    2018-02-01 88 days 1,551 sqft
    2018-03-01 88 days 1,543 sqft
    2018-04-01 87 days 1,556 sqft
    2018-05-01 90 days 1,549 sqft
    2018-06-01 91 days 1,568 sqft
    2018-07-01 94 days 1,578 sqft
    2018-08-01 94 days 1,566 sqft
    2018-09-01 92 days 1,564 sqft
    2018-10-01 93 days 1,546 sqft
    2018-11-01 86 days 1,551 sqft
    2018-12-01 85 days 1,568 sqft
    2019-01-01 83 days 1,573 sqft
    2019-02-01 82 days 1,586 sqft
    2019-03-01 84 days 1,587 sqft
    2019-04-01 86 days 1,585 sqft
    2019-05-01 92 days 1,584 sqft
    2019-06-01 94 days 1,564 sqft
    2019-07-01 96 days 1,559 sqft
    2019-08-01 101 days 1,556 sqft
    2019-09-01 101 days 1,545 sqft
    2019-10-01 101 days 1,543 sqft
    2019-11-01 96 days 1,540 sqft
    2019-12-01 96 days 1,520 sqft
    2020-01-01 96 days 1,515 sqft
    2020-02-01 93 days 1,540 sqft
    2020-03-01 88 days 1,505 sqft
    2020-04-01 90 days 1,462 sqft
    2020-05-01 98 days 1,488 sqft
    2020-06-01 105 days 1,501 sqft
    2020-07-01 105 days 1,530 sqft
    2020-08-01 84 days 1,516 sqft
    2020-09-01 78 days 1,507 sqft
    2020-10-01 78 days 1,509 sqft
    2020-11-01 76 days 1,471 sqft
    2020-12-01 75 days 1,469 sqft
    2021-01-01 81 days 1,486 sqft
    2021-02-01 82 days 1,488 sqft
    2021-03-01 61 days 1,515 sqft
    2021-04-01 52 days 1,476 sqft
    2021-05-01 50 days 1,524 sqft
    2021-06-01 48 days 1,525 sqft
    2021-07-01 52 days 1,496 sqft
    2021-08-01 46 days 1,441 sqft
    2021-09-01 43 days 1,500 sqft
    2021-10-01 47 days 1,440 sqft
    2021-11-01 56 days 1,450 sqft
    2021-12-01 56 days 1,439 sqft
    2022-01-01 53 days 1,451 sqft
    2022-02-01 52 days 1,407 sqft
    2022-03-01 45 days 1,390 sqft
    2022-04-01 46 days 1,418 sqft
    2022-05-01 44 days 1,417 sqft
    2022-06-01 47 days 1,427 sqft
    2022-07-01 48 days 1,461 sqft
    2022-08-01 58 days 1,486 sqft
    2022-09-01 68 days 1,459 sqft
    2022-10-01 71 days 1,457 sqft
    2022-11-01 72 days 1,462 sqft
    2022-12-01 76 days 1,430 sqft
    2023-01-01 82 days 1,457 sqft
    2023-02-01 80 days 1,443 sqft
    2023-03-01 83 days 1,452 sqft
    2023-04-01 78 days 1,476 sqft
    2023-05-01 69 days 1,452 sqft
    2023-06-01 70 days 1,495 sqft
    2023-07-01 67 days 1,440 sqft
    2023-08-01 76 days 1,424 sqft
    2023-09-01 78 days 1,439 sqft
    2023-10-01 71 days 1,510 sqft
    2023-11-01 74 days 1,508 sqft
    2023-12-01 75 days 1,520 sqft
    2024-01-01 77 days 1,500 sqft
    2024-02-01 74 days 1,456 sqft
    2024-03-01 79 days 1,448 sqft
    2024-04-01 78 days 1,463 sqft
    2024-05-01 77 days 1,500 sqft
    2024-06-01 75 days 1,447 sqft
    2024-07-01 79 days 1,443 sqft
    2024-08-01 83 days 1,431 sqft
    2024-09-01 86 days 1,419 sqft
    2024-10-01 86 days 1,388 sqft
    Hilo's median listing age (time on market) for 2024-10-01 was 86 days. This is 20% longer than the same period one year ago.

    Hilo's median square footage for active listings during the 2024-10-01 period was 1,388 sqft. One year prior, the average listing was 1,510 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.