Kennewick VA Loans

KENNEWICK-RICHLAND, WA

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 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 113 lenders originated 1,527 VA loans during 2021. The total origination value was $507,695,000, with an average VA loan value of $332,479.

Kennewick VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Kennewick averaged 5.74% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

The average rate for the prior week (2022-05-13) was 5.65% and one month ago for the week of 2022-04-15, the average rate was 5.31%.

The average rate one year ago was 3.4%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.28%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Kennewick level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
HOMEBRIDGE FINANCIAL SERVICES, INC. 122 2.59% $7,504
FREEDOM MORTGAGE CORPORATION 121 2.38% $3,118
QUICKEN LOANS, LLC 120 2.43% $5,924
PENNYMAC LOAN SERVICES, LLC 77 2.41% $6,280
Mortgage Research Center, LLC 68 2.79% $7,119
UNITED WHOLESALE MORTGAGE, LLC 60 2.48% $5,821
CALIBER HOME LOANS, INC. 51 2.59% $5,901
SUMMIT FUNDING, INC. 33 3.11% $8,282
PRIMELENDING, A PLAINSCAPITAL COMPANY 32 2.92% $7,050
1st Security Bank of Washington 31 2.79% $6,340
NAVY FEDERAL CREDIT UNION 31 2.42% $5,644
LAKEVIEW LOAN SERVICING, LLC 30 2.51% $3,215
Umpqua Bank 29 2.61% $7,765
NEW DAY FINANCIAL, LLC 28 2.88% $11,130
USAA Federal Savings Bank 28 2.90% $6,445
The Federal Savings Bank 26 2.61% $9,071
GUILD MORTGAGE COMPANY 24 2.51% $6,607
Mr. Cooper ( Nationstar Mortgage ) 22 2.67% $3,223
LOANDEPOT.COM, LLC 21 2.49% $2,868
ENVOY MORTGAGE, LTD 21 3.00% $10,768
FINANCE OF AMERICA MORTGAGE LLC 20 2.76% $8,266
Flagstar Bank, FSB 19 2.72% $8,055
AMERICAN PACIFIC MORTGAGE CORPORATION 18 3.03% $9,465
CHURCHILL MORTGAGE CORPORATION 18 2.85% $7,029
Wells Fargo Bank 17 2.41% $4,475
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 16 3.38% $11,953
CHERRY CREEK MORTGAGE, LLC 15 2.48% $7,912
HOME POINT FINANCIAL CORPORATION 14 2.35% $4,543
AMERICAN FINANCIAL NETWORK, INC. 10 2.73% $9,889
NP, Inc. 10 2.36% $4,314
NEWREZ LLC 10 2.65% $5,263
PLANET HOME LENDING, LLC 9 2.64% $4,850
CMG MORTGAGE, INC. 8 2.38% $8,998
ACADEMY MORTGAGE CORPORATION 8 2.88% $16,333
Carrington Mortgage Services, LLC 8 2.78% $5,117
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 3.01% $10,465
LPMC, LLC 8 3.06% $10,910
VILLAGE CAPITAL & INVESTMENT LLC 7 2.59% $4,640
AMERISAVE MORTGAGE CORPORATION 7 2.55% $7,977
First Guaranty Mortgage Corporation 7 2.50% $5,049
DIRECTORS MORTGAGE, INC. 6 3.02% $7,500
HomeStreet Bank 6 2.69% $4,306
Banner Bank 6 2.48% $4,860
NBKC BANK 5 2.30% $2,662
SUN WEST MORTGAGE COMPANY, INC. 5 2.33% $4,173
MUTUAL OF OMAHA MORTGAGE, INC. 5 2.55% $6,632
HOMESIDE FINANCIAL, LLC 5 3.20% $6,345
BROKER SOLUTIONS, INC. 5 2.78% $12,234
PENTAGON FEDERAL CREDIT UNION 5 2.28% $3,887
North American Savings Bank, F.S.B. 4 2.63% $7,131
Nations Lending Corporation 4 3.09% $11,973
Barrington Bank & Trust Company, N.A. 4 2.54% $6,377
MOVEMENT MORTGAGE, LLC 4 3.03% $8,214
CROSSCOUNTRY MORTGAGE, LLC 3 2.79% $5,215
U.S. Bank 3 2.71% $7,693
GUARANTEED RATE, INC. 3 2.58% $4,126
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 3.08% $6,995
PREMIER LENDING, INC. 3 3.08% $5,796
BNC National Bank 3 2.25% $4,821
BELEM SERVICING LLC 2 2.13% $20,694
AMERICAN FINANCING CORPORATION 2 2.56% $5,612
BAY EQUITY LLC 2 2.94% $8,298
CELEBRITY HOME LOANS, LLC 2 3.00% $3,417
Commerce Home Mortgage, Inc. 2 2.50% $4,974
Community First National Bank 2 2.50% $3,279
First Federal Bank 2 2.75% $6,477
First Mortgage Solutions, LLC 2 2.25% $3,163
GUARANTEED RATE AFFINITY, LLC 2 2.25% $2,800
LEADERONE FINANCIAL CORPORATION 2 2.50% $5,716
Low VA Rates, LLC 2 2.25% $1,764
Mid-Continent Funding, Inc. 2 2.44% $4,829
Paramount Residential Mortgage Group, Inc. 2 2.81% $6,259
SOVEREIGN LENDING GROUP INCORPORATED 2 2.81% $6,618
Strong Home Mortgage, LLC 2 2.31% $6,781
TJC Mortgage, Inc. 2 2.38% $4,609
Washington Trust Bank 2 3.00% $4,200
Magnolia Bank 1 2.25% $3,786
Neighborhood Loans, Inc. 1 2.88% $4,630
NETWORK CAPITAL FUNDING CORPORATION 1 3.38% $3,529
LOANPAL, LLC 1 2.50% $2,560
LIBERTY HOME MORTGAGE CORPORATION 1 2.25% $6,695
Lakeview Community Capital, LLC 1 2.63% $3,954
NOVA FINANCIAL & INVESTMENT CORPORATION 1 2.25% $3,173
LADERA LENDING, INC. 1 2.25% $3,436
NUMERICA CREDIT UNION 1 2.25% $3,290
Victorian Finance, LLC 1 3.13% $3,180
KS StateBank 1 3.63% $17,071
KELLER MORTGAGE, LLC 1 2.25% $10,536
JPMorgan Chase Bank 1 2.75% $10,354
GET A RATE LLC 1 2.88% $1,823
First Midwest Bank 1 2.00% $5,280
First Home Bank 1 3.25% $14,551
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $9,036
S1L, Inc. 1 2.99% $4,116
Sierra Pacific Mortgage Company, Inc. 1 2.75% $21,369
AXIA FINANCIAL, LLC 1 2.75% $9,128
STEARNS LENDING, LLC 1 2.63% $9,357
Willamette Valley Bank 1 3.00% $10,427
Credence Funding Corporation 1 2.50% $5,564
CORNERSTONE HOME LENDING, INC. 1 3.25% $4,219
CITYWIDE HOME LOANS, LLC 1 2.25% $4,575
THRIVE MORTGAGE, LLC 1 3.00% $3,684
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.50% $11,894
Truist Bank 1 2.75% $1,825
Boeing Employees Credit Union 1 2.63% $3,835
BAYSHORE MORTGAGE FUNDING, LLC 1 2.38% $5,517
Bank of the Pacific 1 2.38% $7,430
Bank of England 1 2.50% $7,929
NATIONS DIRECT MORTGAGE, LLC 1 2.75% $1,845
MORTGAGE MASTER SERVICE CORPORATION 1 2.75% $1,412
NATIONWIDE MORTGAGE BANKERS, INC. 1 2.75% $3,766
MANN FINANCIAL INC. 1 3.00% $13,491
NBH Bank 1 2.50% $1,384

The top Kennewick VA lender as defined by loan originations is HOMEBRIDGE FINANCIAL SERVICES, INC., with 122 VA loans originated. Their average total fees are $7,504, which is $4,385 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee Kennewick VA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC ($2,868), FREEDOM MORTGAGE CORPORATION ($3,118), LAKEVIEW LOAN SERVICING, LLC ($3,215), Mr. Cooper ( Nationstar Mortgage ) ($3,223) and NP, Inc. ($4,314).

The lowest rate Kennewick VA lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION (2.35%), NP, Inc. (2.36%), FREEDOM MORTGAGE CORPORATION (2.38%), PENNYMAC LOAN SERVICES, LLC (2.41%) and Wells Fargo Bank (2.41%).

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.