Kennewick VA Loan Rates, Closing Costs & Stats

KENNEWICK-RICHLAND, WA

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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.

    Kennewick's 77 lenders originated 623 VA loans during 2022. The total origination value was $260,585,000, with an average VA loan value of $418,274.

    Kennewick VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Kennewick averaged -0.47% for the week of 2023-06-02, compared to the national average (all VA variants) of 0% for the same period.

    Kennewick's average VA mortgage closing costs are $6,994.

    The average rate for the prior week (2023-05-26) was 6.16% and one month ago for the week of 2023-04-28, the average rate was 5.62%.

    The average rate one year ago was 4.57%.

    For refis of the same type during the week of 2023-06-02, the average rate was -1.12%.

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

    Kennewick 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 Kennewick level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 60 4.07% $10,119
    HOMEBRIDGE FINANCIAL SERVICES, INC. 58 4.73% $13,245
    Mortgage Research Center, LLC 57 4.76% $10,273
    QUICKEN LOANS, LLC 42 4.41% $15,337
    FREEDOM MORTGAGE CORPORATION 28 3.94% $14,985
    PENNYMAC LOAN SERVICES, LLC 24 3.36% $10,528
    NAVY FEDERAL CREDIT UNION 22 4.13% $7,449
    CHURCHILL MORTGAGE CORPORATION 19 5.36% $11,817
    CMG MORTGAGE, INC. 14 4.09% $5,429
    ENVOY MORTGAGE, LTD 13 4.77% $12,081
    PRIMELENDING, A PLAINSCAPITAL COMPANY 13 4.31% $6,745
    SUMMIT FUNDING, INC. 12 5.21% $8,482
    CALIBER HOME LOANS, INC. 12 4.07% $10,830
    HOMESIDE FINANCIAL, LLC 12 4.99% $12,984
    1st Security Bank of Washington 12 4.65% $11,496
    Umpqua Bank 11 5.23% $11,227
    AMERICAN PACIFIC MORTGAGE CORPORATION 11 5.23% $15,450
    Flagstar Bank, FSB 11 3.97% $15,062
    USAA Federal Savings Bank 11 4.19% $8,780
    LOANDEPOT.COM, LLC 9 3.69% $8,884
    The Federal Savings Bank 9 5.14% $15,191
    NEW DAY FINANCIAL, LLC 9 5.22% $17,235
    LAKEVIEW LOAN SERVICING, LLC 8 3.80% $6,699
    ACADEMY MORTGAGE CORPORATION 8 4.83% $11,939
    CARDINAL FINANCIAL 6 3.69% $14,219
    AMERISAVE MORTGAGE CORPORATION 6 4.54% $12,065
    GUILD MORTGAGE COMPANY 5 4.60% $13,136
    Wells Fargo Bank 5 3.38% $8,899
    CROSSCOUNTRY MORTGAGE, LLC 5 5.30% $10,773
    MOVEMENT MORTGAGE, LLC 5 4.83% $10,826
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 5 4.50% $17,739
    CHERRY CREEK MORTGAGE, LLC 5 4.50% $7,602
    SUN WEST MORTGAGE COMPANY, INC. 4 4.84% $11,068
    Mr. Cooper ( Nationstar Mortgage ) 4 3.75% $8,488
    HOME POINT FINANCIAL CORPORATION 3 5.12% $5,893
    PREMIER LENDING, INC. 3 4.58% $8,014
    FINANCE OF AMERICA MORTGAGE LLC 3 3.58% $12,032
    RESIDENTIAL BANCORP. 3 3.67% $10,921
    JPMorgan Chase Bank 2 4.38% $9,944
    Carrington Mortgage Services, LLC 2 4.56% $17,674
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 5.13% $9,976
    VILLAGE CAPITAL MORTGAGE 2 4.44% $16,374
    Barrington Bank & Trust Company, N.A. 2 4.94% $7,593
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 4.62% $8,013
    Credence Funding Corporation 2 2.25% $6,382
    PENTAGON FEDERAL CREDIT UNION 2 3.81% $2,424
    NEWREZ LLC 2 4.13% $25,770
    NBKC BANK 2 4.13% $2,222
    Wyndham Capital Mortgage, Inc. 1 4.88% $7,270
    Bank of England 1 3.50% $11,095
    CITYWIDE HOME LOANS, LLC 1 3.63% $13,688
    CONTOUR MORTGAGE CORPORATION 1 3.50% $8,608
    CORNERSTONE HOME LENDING, INC. 1 5.25% $3,728
    DIRECTORS MORTGAGE, INC. 1 4.25% $14,383
    GUARANTEED RATE AFFINITY, LLC 1 3.00% $2,644
    HomeStreet Bank 1 3.88% $7,413
    Hometown Lenders, Inc. 1 6.88% $15,078
    Lakeview Community Capital, LLC 1 2.38% $14,934
    LAND HOME FINANCIAL SERVICES, INC. 1 4.99% $9,457
    Low VA Rates, LLC 1 4.50% $15,862
    LPMC, LLC 1 3.75% $9,831
    Mid-Continent Funding, Inc. 1 2.75% $6,129
    MOUNTAIN AMERICA 1 7.00% $16,173
    MUTUAL OF OMAHA MORTGAGE, INC. 1 2.99% $4,932
    Nations Lending Corporation 1 2.88% $15,574
    NETWORK CAPITAL FUNDING CORPORATION 1 4.13% $8,329
    NFM, INC. 1 4.25% $3,299
    Paramount Residential Mortgage Group, Inc. 1 4.25% $6,041
    PREMIA MORTGAGE, LLC 1 6.00% $9,779
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.88% $5,239
    S1L, Inc. 1 4.75% $9,732
    Servion, Inc. 1 4.88% $5,547
    Sierra Pacific Mortgage Company, Inc. 1 3.38% $12,388
    Summit Mortgage Corporation 1 4.37% $24,029
    SWBC MORTGAGE CORPORATION 1 3.63% $3,432
    U.S. Bank 1 5.13% $12,285
    Washington Trust Bank 1 2.88% $3,309

    The top Kennewick VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 60 VA loans originated. Their average total fees are $10,119, which is $3,126 lower than the next largest lender, HOMEBRIDGE FINANCIAL SERVICES, INC..

    The lowest fee Kennewick VA lenders (with over 10 loans originated) are CMG MORTGAGE, INC. ($5,429), PRIMELENDING, A PLAINSCAPITAL COMPANY ($6,745), NAVY FEDERAL CREDIT UNION ($7,449), SUMMIT FUNDING, INC. ($8,482) and USAA Federal Savings Bank ($8,780).

    The lowest rate Kennewick VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.36%), FREEDOM MORTGAGE CORPORATION (3.94%), Flagstar Bank, FSB (3.97%), UNITED WHOLESALE MORTGAGE, LLC (4.07%) and CALIBER HOME LOANS, INC. (4.07%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Kennewick (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 $316,575 (6.6%) $339,630 (2.4%) 1.17 833
    2018-02-01 $322,450 (1.6%) $344,325 (0.4%) 1.17 825
    2018-03-01 $329,800 (1.5%) $354,695 (1.4%) 1.16 850
    2018-04-01 $324,975 (0.0%) $353,587 (1.4%) 1.10 933
    2018-05-01 $330,000 (0.3%) $356,641 (0.6%) 1.10 990
    2018-06-01 $334,000 (0.5%) $356,504 (-1.9%) 1.11 745
    2018-07-01 $330,750 (1.8%) $354,951 (0.4%) 1.10 1,075
    2018-08-01 $322,450 (1.1%) $353,370 (0.9%) 1.08 1,134
    2018-09-01 $318,230 (6.2%) $352,338 (7.1%) 1.07 1,159
    2018-10-01 $318,615 (6.2%) $355,604 (8.4%) 1.08 1,147
    2018-11-01 $316,525 (4.0%) $354,420 (7.2%) 1.07 1,066
    2018-12-01 $320,000 (3.2%) $357,779 (6.9%) 1.10 947
    2019-01-01 $320,000 (1.1%) $353,449 (4.1%) 1.11 884
    2019-02-01 $322,335 (0.0%) $353,936 (2.8%) 1.09 823
    2019-03-01 $338,923 (2.8%) $370,285 (4.4%) 1.11 665
    2019-04-01 $357,725 (10.1%) $391,783 (10.8%) 1.14 519
    2019-05-01 $349,979 (6.1%) $390,175 (9.4%) 1.09 539
    2019-06-01 $359,000 (7.5%) $397,081 (11.4%) 1.12 543
    2019-07-01 $364,225 (10.1%) $402,174 (13.3%) 1.14 583
    2019-08-01 $362,018 (12.3%) $400,973 (13.5%) 1.15 631
    2019-09-01 $352,389 (10.7%) $388,992 (10.4%) 1.13 692
    2019-10-01 $345,970 (8.6%) $381,004 (7.1%) 1.12 713
    2019-11-01 $350,000 (10.6%) $396,806 (12.0%) 1.15 682
    2019-12-01 $351,900 (10.0%) $395,749 (10.6%) 1.17 632
    2020-01-01 $359,900 (12.5%) $401,652 (13.6%) 1.20 577
    2020-02-01 $373,708 (15.9%) $404,642 (14.3%) 1.23 498
    2020-03-01 $384,972 (13.6%) $416,590 (12.5%) 1.21 499
    2020-04-01 $397,400 (11.1%) $421,967 (7.7%) 1.24 498
    2020-05-01 $409,950 (17.1%) $432,531 (10.9%) 1.25 475
    2020-06-01 $402,500 (12.1%) $435,713 (9.7%) 1.19 486
    2020-07-01 $414,288 (13.7%) $446,390 (11.0%) 1.20 502
    2020-08-01 $409,000 (13.0%) $442,641 (10.4%) 1.17 469
    2020-09-01 $399,900 (13.5%) $451,503 (16.1%) 1.15 465
    2020-10-01 $399,900 (15.6%) $452,538 (18.8%) 1.15 469
    2020-11-01 $402,725 (15.1%) $458,393 (15.5%) 1.18 416
    2020-12-01 $418,400 (18.9%) $467,591 (18.2%) 1.25 347
    2021-01-01 $418,825 (16.4%) $472,255 (17.6%) 1.25 313
    2021-02-01 $427,450 (14.4%) $487,732 (20.5%) 1.24 280
    2021-03-01 $440,925 (14.5%) $488,179 (17.2%) 1.25 234
    2021-04-01 $443,975 (11.7%) $497,243 (17.8%) 1.20 203
    2021-05-01 $460,000 (12.2%) $504,389 (16.6%) 1.22 200
    2021-06-01 $477,723 (18.7%) $514,869 (18.2%) 1.26 205
    2021-07-01 $472,500 (14.1%) $516,576 (15.7%) 1.25 243
    2021-08-01 $506,213 (23.8%) $539,037 (21.8%) 1.35 293
    2021-09-01 $499,450 (24.9%) $532,473 (17.9%) 1.33 356
    2021-10-01 $512,875 (28.3%) $552,306 (22.1%) 1.37 389
    2021-11-01 $526,938 (30.8%) $566,403 (23.6%) 1.41 416
    2021-12-01 $531,913 (27.1%) $576,270 (23.2%) 1.44 392
    2022-01-01 $551,400 (31.7%) $581,924 (23.2%) 1.49 338
    2022-02-01 $534,940 (25.2%) $572,735 (17.4%) 1.39 305
    2022-03-01 $542,188 (23.0%) $577,866 (18.4%) 1.36 309
    2022-04-01 $525,000 (18.3%) $563,840 (13.4%) 1.25 328
    2022-05-01 $530,150 (15.3%) $564,771 (12.0%) 1.21 355
    2022-06-01 $537,000 (12.4%) $573,579 (11.4%) 1.20 409
    2022-07-01 $525,000 (11.1%) $565,577 (9.5%) 1.18 541
    2022-08-01 $525,000 (3.7%) $566,953 (5.2%) 1.21 573
    2022-09-01 $539,700 (8.1%) $580,367 (9.0%) 1.26 548
    2022-10-01 $549,450 (7.1%) $583,683 (5.7%) 1.29 642
    2022-11-01 $544,975 (3.4%) $581,781 (2.7%) 1.31 675
    2022-12-01 $549,900 (3.4%) $577,170 (0.2%) 1.36 614
    2023-01-01 $551,950 (0.1%) $575,748 (-1.1%) 1.37 555
    2023-02-01 $559,450 (4.6%) $580,726 (1.4%) 1.35 526
    2023-03-01 $549,948 (1.4%) $584,283 (1.1%) 1.30 504
    2023-04-01 $544,950 (3.8%) $590,356 (4.7%) 1.27 526
    2023-05-01 $542,423 (2.3%) $600,207 (6.3%) 1.23 600
    Kennewick's median listing price for 2023-05-01 was $542,423, a difference of $12,273 (2.3%) versus the prior year and $-2,527 versus the prior month.

    Kennewick's median listing price comes in at 123% of the national average.

    Kennewick's average listing price for 2023-05-01 was $600,207, a difference of $35,436 (6.3%) versus the prior year and $9,851 versus the prior month.

    For the 2023-05-01 period, Kennewick had 600 MLS listings, a difference of 74 listings (14%) versus the prior month and 245 listings (69%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Kennewick (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 65 days 2,151 sqft
    2018-02-01 51 days 2,171 sqft
    2018-03-01 37 days 2,188 sqft
    2018-04-01 33 days 2,159 sqft
    2018-05-01 36 days 2,192 sqft
    2018-06-01 36 days 2,200 sqft
    2018-07-01 36 days 2,183 sqft
    2018-08-01 38 days 2,137 sqft
    2018-09-01 43 days 2,107 sqft
    2018-10-01 46 days 2,121 sqft
    2018-11-01 51 days 2,122 sqft
    2018-12-01 61 days 2,118 sqft
    2019-01-01 65 days 2,099 sqft
    2019-02-01 61 days 2,062 sqft
    2019-03-01 55 days 2,113 sqft
    2019-04-01 47 days 2,173 sqft
    2019-05-01 39 days 2,142 sqft
    2019-06-01 37 days 2,181 sqft
    2019-07-01 31 days 2,204 sqft
    2019-08-01 34 days 2,212 sqft
    2019-09-01 40 days 2,192 sqft
    2019-10-01 46 days 2,178 sqft
    2019-11-01 46 days 2,232 sqft
    2019-12-01 53 days 2,164 sqft
    2020-01-01 60 days 2,198 sqft
    2020-02-01 56 days 2,200 sqft
    2020-03-01 37 days 2,207 sqft
    2020-04-01 42 days 2,239 sqft
    2020-05-01 53 days 2,327 sqft
    2020-06-01 44 days 2,305 sqft
    2020-07-01 41 days 2,300 sqft
    2020-08-01 37 days 2,270 sqft
    2020-09-01 36 days 2,248 sqft
    2020-10-01 36 days 2,202 sqft
    2020-11-01 46 days 2,201 sqft
    2020-12-01 61 days 2,193 sqft
    2021-01-01 53 days 2,161 sqft
    2021-02-01 42 days 2,144 sqft
    2021-03-01 33 days 2,180 sqft
    2021-04-01 33 days 2,174 sqft
    2021-05-01 29 days 2,232 sqft
    2021-06-01 28 days 2,236 sqft
    2021-07-01 22 days 2,145 sqft
    2021-08-01 23 days 2,213 sqft
    2021-09-01 22 days 2,190 sqft
    2021-10-01 33 days 2,179 sqft
    2021-11-01 38 days 2,221 sqft
    2021-12-01 52 days 2,220 sqft
    2022-01-01 64 days 2,212 sqft
    2022-02-01 49 days 2,176 sqft
    2022-03-01 38 days 2,138 sqft
    2022-04-01 33 days 2,184 sqft
    2022-05-01 28 days 2,176 sqft
    2022-06-01 27 days 2,222 sqft
    2022-07-01 31 days 2,202 sqft
    2022-08-01 37 days 2,223 sqft
    2022-09-01 47 days 2,249 sqft
    2022-10-01 44 days 2,200 sqft
    2022-11-01 51 days 2,177 sqft
    2022-12-01 68 days 2,143 sqft
    2023-01-01 79 days 2,139 sqft
    2023-02-01 83 days 2,162 sqft
    2023-03-01 59 days 2,200 sqft
    2023-04-01 53 days 2,167 sqft
    2023-05-01 44 days 2,159 sqft
    Kennewick's median listing age (time on market) for 2023-05-01 was 44 days. This is 58% longer than the same period one year ago.

    Kennewick's median square footage for active listings during the 2023-05-01 period was 2,159 sqft. One year prior, the average listing was 2,176 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.