Hutchinson VA Loan Rates, Closing Costs & Stats

Hutchinson, KS

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.

Hutchinson's 17 lenders originated 45 VA loans during 2023. The total origination value was $8,475,000, with an average VA loan value of $188,333.

Hutchinson VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Hutchinson averaged 6.7% for the week of 2024-03-22, compared to the national average (all VA variants) of 6.539% for the same period.

Hutchinson's average VA mortgage closing costs are $4,121.

The average rate for the prior week (2024-03-15) was 6.91% and one month ago for the week of 2024-02-16, the average rate was 6.84%.

The average rate one year ago was 6.47%.

For refis of the same type during the week of 2024-03-22, the average rate was 6.64%.

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

Hutchinson 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 Hutchinson level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 18 6.87% $4,011
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 6.95% $10,913
USAA Federal Savings Bank 3 6.38% $7,170
QUICKEN LOANS, LLC 2 6.37% $3,476
UNITED WHOLESALE MORTGAGE, LLC 2 7.43% $1,401
LOANPAL, LLC 1 6.38% $6,934
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $2,495
CARDINAL FINANCIAL 1 5.25% $4,113
OPEN MORTGAGE, LLC 1 6.63% $4,128
PENNYMAC LOAN SERVICES, LLC 1 5.75% $11,225
RCB Bank 1 6.25% $10,256
Sierra Pacific Mortgage Company, Inc. 1 7.63% $3,656
NAVY FEDERAL CREDIT UNION 1 5.75% $8,457
Flagstar Bank, FSB 1 5.13% $7,758
Gateway First Bank 1 6.25% $1,736
GUILD MORTGAGE COMPANY 1 6.50% $9,477
LOANDEPOT.COM, LLC 1 6.25% $4,318

The top Hutchinson VA lender as defined by loan originations is Mortgage Research Center, LLC, with 18 VA loans originated. Their average total fees are $4,011, which is $6,901 lower than the next largest lender, PRIMARY RESIDENTIAL MORTGAGE, INC..

The lowest fee Hutchinson VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,011), .

The lowest rate Hutchinson VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.87%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Hutchinson (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 $99,438 (4.7%) $144,853 (3.1%) 0.00 250
2018-02-01 $99,925 (-5.2%) $144,397 (-2.4%) 0.00 236
2018-03-01 $105,950 (-1.7%) $146,945 (0.3%) 0.00 239
2018-04-01 $106,725 (-8.8%) $147,406 (-3.3%) 0.00 247
2018-05-01 $110,550 (-4.9%) $154,421 (0.5%) 0.00 259
2018-06-01 $115,000 (-0.4%) $159,645 (2.1%) 0.00 283
2018-07-01 $119,050 (3.5%) $170,224 (8.4%) 0.00 281
2018-08-01 $115,000 (4.6%) $169,026 (13.5%) 0.00 283
2018-09-01 $115,900 (0.1%) $174,397 (16.2%) 0.00 275
2018-10-01 $115,750 (-0.8%) $172,155 (11.2%) 0.00 286
2018-11-01 $112,700 (0.2%) $166,216 (9.4%) 0.00 283
2018-12-01 $108,250 (-1.5%) $165,831 (10.9%) 0.00 266
2019-01-01 $104,300 (4.9%) $160,020 (10.5%) 0.00 249
2019-02-01 $101,550 (1.6%) $159,180 (10.2%) 0.00 224
2019-03-01 $109,714 (3.6%) $172,236 (17.2%) 0.00 216
2019-04-01 $115,000 (7.8%) $179,391 (21.7%) 0.00 217
2019-05-01 $125,000 (13.1%) $184,140 (19.3%) 0.00 218
2019-06-01 $109,900 (-4.4%) $176,680 (10.7%) 0.00 214
2019-07-01 $99,700 (-16.3%) $167,023 (-1.9%) 0.00 238
2019-08-01 $102,745 (-10.7%) $168,505 (-0.3%) 0.00 240
2019-09-01 $108,514 (-6.4%) $172,901 (-0.9%) 0.00 239
2019-10-01 $113,750 (-1.7%) $176,092 (2.3%) 0.00 239
2019-11-01 $112,000 (-0.6%) $172,310 (3.7%) 0.00 254
2019-12-01 $99,950 (-7.7%) $168,519 (1.6%) 0.00 245
2020-01-01 $99,900 (-4.2%) $164,911 (3.1%) 0.00 231
2020-02-01 $99,900 (-1.6%) $161,884 (1.7%) 0.00 228
2020-03-01 $105,750 (-3.6%) $167,924 (-2.5%) 0.00 203
2020-04-01 $107,700 (-6.4%) $169,338 (-5.6%) 0.00 176
2020-05-01 $114,900 (-8.1%) $177,732 (-3.5%) 0.00 151
2020-06-01 $102,313 (-6.9%) $192,159 (8.8%) 0.00 129
2020-07-01 $121,475 (21.8%) $201,010 (20.4%) 0.00 131
2020-08-01 $119,900 (16.7%) $204,966 (21.6%) 0.00 106
2020-09-01 $119,900 (10.5%) $195,525 (13.1%) 0.00 108
2020-10-01 $104,500 (-8.1%) $170,054 (-3.4%) 0.00 107
2020-11-01 $92,935 (-17.0%) $159,007 (-7.7%) 0.00 96
2020-12-01 $109,950 (10.0%) $175,135 (3.9%) 0.00 89
2021-01-01 $94,900 (-5.0%) $168,918 (2.4%) 0.00 65
2021-02-01 $99,900 (0.0%) $158,046 (-2.4%) 0.00 46
2021-03-01 $106,975 (1.2%) $200,450 (19.4%) 0.00 44
2021-04-01 $114,325 (6.2%) $193,806 (14.5%) 0.00 54
2021-05-01 $139,950 (21.8%) $217,868 (22.6%) 0.00 51
2021-06-01 $135,800 (32.7%) $220,486 (14.7%) 0.00 61
2021-07-01 $140,000 (15.3%) $212,251 (5.6%) 0.00 66
2021-08-01 $136,175 (13.6%) $206,624 (0.8%) 0.00 67
2021-09-01 $111,725 (-6.8%) $177,322 (-9.3%) 0.00 67
2021-10-01 $109,900 (5.2%) $163,228 (-4.0%) 0.00 74
2021-11-01 $88,900 (-4.3%) $161,753 (1.7%) 0.00 69
2021-12-01 $90,425 (-17.8%) $144,596 (-17.4%) 0.00 54
2022-01-01 $95,000 (0.1%) $169,412 (0.3%) 0.00 49
2022-02-01 $94,450 (-5.5%) $161,549 (2.2%) 0.00 45
2022-03-01 $104,950 (-1.9%) $175,757 (-12.3%) 0.00 44
2022-04-01 $115,000 (0.6%) $170,524 (-12.0%) 0.00 53
2022-05-01 $129,525 (-7.5%) $172,090 (-21.0%) 0.00 65
2022-06-01 $131,500 (-3.2%) $185,904 (-15.7%) 0.00 57
2022-07-01 $125,000 (-10.7%) $197,864 (-6.8%) 0.00 59
2022-08-01 $122,500 (-10.0%) $163,217 (-21.0%) 0.00 67
2022-09-01 $118,225 (5.8%) $158,768 (-10.5%) 0.00 79
2022-10-01 $114,900 (4.6%) $149,483 (-8.4%) 0.00 79
2022-11-01 $107,100 (20.5%) $149,681 (-7.5%) 0.00 75
2022-12-01 $122,400 (35.4%) $145,526 (0.6%) 0.00 76
2023-01-01 $136,225 (43.4%) $162,149 (-4.3%) 0.00 81
2023-02-01 $146,500 (55.1%) $167,594 (3.7%) 0.00 75
2023-03-01 $142,450 (35.7%) $163,872 (-6.8%) 0.00 69
2023-04-01 $135,000 (17.4%) $169,886 (-0.4%) 0.00 66
2023-05-01 $142,500 (10.0%) $167,752 (-2.5%) 0.00 73
2023-06-01 $140,425 (6.8%) $173,964 (-6.4%) 0.00 93
2023-07-01 $142,450 (14.0%) $173,205 (-12.5%) 0.00 102
2023-08-01 $120,000 (-2.0%) $165,635 (1.5%) 0.00 94
2023-09-01 $142,450 (20.5%) $175,126 (10.3%) 0.00 90
2023-10-01 $145,450 (26.6%) $188,396 (26.0%) 0.00 99
2023-11-01 $134,900 (26.0%) $186,966 (24.9%) 0.00 105
2023-12-01 $149,800 (22.4%) $199,466 (37.1%) 0.00 98
2024-01-01 $146,725 (7.7%) $189,885 (17.1%) 0.00 73
2024-02-01 $139,500 (-4.8%) $187,408 (11.8%) 0.00 76
Hutchinson's median listing price for 2024-02-01 was $139,500, a difference of $-7,000 (-4.8%) versus the prior year and $-7,225 versus the prior month.

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

Hutchinson's average listing price for 2024-02-01 was $187,408, a difference of $19,814 (11.8%) versus the prior year and $-2,477 versus the prior month.

For the 2024-02-01 period, Hutchinson had 76 MLS listings, a difference of 3 listings (4%) versus the prior month and 1 listings (1%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Hutchinson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,721 sqft
2018-02-01 0 days 1,673 sqft
2018-03-01 0 days 1,717 sqft
2018-04-01 0 days 1,643 sqft
2018-05-01 0 days 1,649 sqft
2018-06-01 0 days 1,720 sqft
2018-07-01 0 days 1,728 sqft
2018-08-01 0 days 1,721 sqft
2018-09-01 0 days 1,728 sqft
2018-10-01 0 days 1,787 sqft
2018-11-01 0 days 1,730 sqft
2018-12-01 0 days 1,698 sqft
2019-01-01 0 days 1,697 sqft
2019-02-01 0 days 1,707 sqft
2019-03-01 0 days 1,717 sqft
2019-04-01 0 days 1,721 sqft
2019-05-01 0 days 1,779 sqft
2019-06-01 0 days 1,770 sqft
2019-07-01 0 days 1,678 sqft
2019-08-01 0 days 1,661 sqft
2019-09-01 0 days 1,686 sqft
2019-10-01 0 days 1,725 sqft
2019-11-01 0 days 1,717 sqft
2019-12-01 0 days 1,660 sqft
2020-01-01 0 days 1,664 sqft
2020-02-01 0 days 1,644 sqft
2020-03-01 0 days 1,709 sqft
2020-04-01 0 days 1,766 sqft
2020-05-01 0 days 1,783 sqft
2020-06-01 0 days 1,752 sqft
2020-07-01 0 days 1,823 sqft
2020-08-01 0 days 1,858 sqft
2020-09-01 0 days 1,792 sqft
2020-10-01 0 days 1,654 sqft
2020-11-01 0 days 1,549 sqft
2020-12-01 0 days 1,653 sqft
2021-01-01 0 days 1,484 sqft
2021-02-01 0 days 1,523 sqft
2021-03-01 0 days 1,768 sqft
2021-04-01 0 days 1,696 sqft
2021-05-01 0 days 1,728 sqft
2021-06-01 0 days 1,720 sqft
2021-07-01 0 days 1,761 sqft
2021-08-01 0 days 1,724 sqft
2021-09-01 0 days 1,629 sqft
2021-10-01 0 days 1,536 sqft
2021-11-01 0 days 1,468 sqft
2021-12-01 0 days 1,432 sqft
2022-01-01 0 days 1,534 sqft
2022-02-01 0 days 1,458 sqft
2022-03-01 0 days 1,481 sqft
2022-04-01 0 days 1,498 sqft
2022-05-01 0 days 1,505 sqft
2022-06-01 0 days 1,554 sqft
2022-07-01 0 days 1,585 sqft
2022-08-01 0 days 1,528 sqft
2022-09-01 0 days 1,510 sqft
2022-10-01 0 days 1,454 sqft
2022-11-01 0 days 1,386 sqft
2022-12-01 0 days 1,436 sqft
2023-01-01 0 days 1,496 sqft
2023-02-01 0 days 1,579 sqft
2023-03-01 0 days 1,562 sqft
2023-04-01 0 days 1,607 sqft
2023-05-01 0 days 1,772 sqft
2023-06-01 0 days 1,656 sqft
2023-07-01 0 days 1,760 sqft
2023-08-01 0 days 1,545 sqft
2023-09-01 0 days 1,722 sqft
2023-10-01 0 days 1,752 sqft
2023-11-01 0 days 1,737 sqft
2023-12-01 0 days 1,677 sqft
2024-01-01 0 days 1,645 sqft
2024-02-01 0 days 1,714 sqft
Hutchinson's median listing age (time on market) for 2024-02-01 was 0 days.

Hutchinson's median square footage for active listings during the 2024-02-01 period was 1,714 sqft. One year prior, the average listing was 1,579 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.