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 64 lenders originated 361 VA loans during 2023. The total origination value was $155,115,000, with an average VA loan value of $429,681.

    Kennewick VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Kennewick averaged 7.04% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Kennewick's average VA mortgage closing costs are $7,256.

    The average rate for the prior week (2024-04-12) was 6.87% and one month ago for the week of 2024-03-15, the average rate was 6.53%.

    The average rate one year ago was 6.32%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.78%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 46 6.72% $7,987
    UNITED WHOLESALE MORTGAGE, LLC 39 6.10% $11,534
    CMG MORTGAGE, INC. 32 6.39% $15,292
    AMERICAN PACIFIC MORTGAGE CORPORATION 20 6.37% $12,499
    HOMEBRIDGE FINANCIAL SERVICES, INC. 18 5.76% $7,299
    QUICKEN LOANS, LLC 18 6.14% $14,279
    NAVY FEDERAL CREDIT UNION 18 5.76% $7,300
    PRIMELENDING, A PLAINSCAPITAL COMPANY 16 6.30% $9,349
    Flagstar Bank, FSB 9 6.25% $9,317
    1st Security Bank of Washington 7 6.34% $15,405
    PENNYMAC LOAN SERVICES, LLC 7 5.69% $8,633
    SUMMIT FUNDING, INC. 7 7.20% $7,810
    The Federal Savings Bank 6 6.69% $16,839
    CHURCHILL MORTGAGE CORPORATION 6 6.15% $16,029
    DHI MORTGAGE COMPANY, LTD. 6 5.64% $4,713
    NEW DAY FINANCIAL, LLC 5 7.67% $17,672
    MOVEMENT MORTGAGE, LLC 5 6.60% $12,913
    BROKER SOLUTIONS, INC. 5 6.50% $14,958
    USAA Federal Savings Bank 5 5.85% $9,760
    Mr. Cooper ( Nationstar Mortgage ) 4 6.16% $19,104
    LOANDEPOT.COM, LLC 4 5.78% $11,000
    Wells Fargo Bank 4 6.22% $12,224
    NEWREZ LLC 4 6.25% $12,221
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 3 6.92% $10,545
    CARDINAL FINANCIAL 3 6.88% $33,074
    Cornerstone First Mortgage, Inc 3 7.17% $12,004
    ENVOY MORTGAGE, LTD 3 6.08% $3,223
    GUILD MORTGAGE COMPANY 3 6.46% $13,527
    Sunflower Bank 3 6.88% $14,090
    PENTAGON FEDERAL CREDIT UNION 2 5.44% $5,041
    PLANET HOME LENDING, LLC 2 4.06% $16,843
    FREEDOM MORTGAGE CORPORATION 2 6.50% $18,930
    JPMorgan Chase Bank 2 6.13% $1,901
    SUN WEST MORTGAGE COMPANY, INC. 2 5.50% $8,964
    HOMESIDE FINANCIAL, LLC 2 6.50% $6,916
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.00% $12,070
    AMERISAVE MORTGAGE CORPORATION 2 5.75% $26,971
    LPMC, LLC 2 6.63% $9,604
    PREMIA MORTGAGE, LLC 1 5.13% $7,783
    Equity Prime Mortgage LLC 1 6.38% $1,467
    Prosperity Home Mortgage, LLC 1 5.75% $12,240
    CORNERSTONE HOME LENDING, INC. 1 7.13% $19,128
    S1L, Inc. 1 6.25% $13,165
    SIRVA MORTGAGE, INC. 1 7.13% $8,050
    Carrington Mortgage Services, LLC 1 5.63% $5,985
    Wheatland Bank 1 6.63% $1,179
    T2 FINANCIAL LLC 1 6.75% $9,607
    BAY-VALLEY MORTGAGE GROUP 1 6.63% $15,152
    Umpqua Bank 1 5.50% $11,847
    Barrington Bank & Trust Company, N.A. 1 5.00% $23,715
    Ameris Bank 1 5.75% $4,168
    U.S. Bank 1 6.25% $3,206
    VERITAS FUNDING, LLC 1 6.13% $15,461
    VILLAGE CAPITAL MORTGAGE 1 6.75% $14,099
    Watermark Capital, Inc. 1 5.50% $4,005
    Lakeview Community Capital, LLC 1 5.75% $9,175
    MEMBER FIRST MORTGAGE, LLC 1 6.13% $2,494
    MICHIGAN MUTUAL, INC. 1 5.63% $6,894
    GUARANTEED RATE, INC. 1 6.25% $8,906
    NATIONS DIRECT MORTGAGE, LLC 1 5.75% $28,832
    GENEVA FINANCIAL, LLC 1 6.88% $1,645
    NETWORK CAPITAL FUNDING CORPORATION 1 5.88% $10,499
    First Western Trust Bank 1 6.25% $2,742
    NUMERICA CREDIT UNION 1 6.88% $974

    The top Kennewick VA lender as defined by loan originations is Mortgage Research Center, LLC, with 46 VA loans originated. Their average total fees are $7,987, which is $3,547 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Kennewick VA lenders (with over 10 loans originated) are HOMEBRIDGE FINANCIAL SERVICES, INC. ($7,299), NAVY FEDERAL CREDIT UNION ($7,300), Mortgage Research Center, LLC ($7,987), PRIMELENDING, A PLAINSCAPITAL COMPANY ($9,349) and UNITED WHOLESALE MORTGAGE, LLC ($11,534).

    The lowest rate Kennewick VA lenders (with over 10 loans originated) are HOMEBRIDGE FINANCIAL SERVICES, INC. (5.76%), NAVY FEDERAL CREDIT UNION (5.76%), UNITED WHOLESALE MORTGAGE, LLC (6.10%), QUICKEN LOANS, LLC (6.14%) and PRIMELENDING, A PLAINSCAPITAL COMPANY (6.30%).

    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%) $401,043 (13.5%) 1.15 631
    2019-09-01 $352,389 (10.7%) $389,168 (10.5%) 1.13 692
    2019-10-01 $345,970 (8.6%) $381,250 (7.2%) 1.12 712
    2019-11-01 $350,000 (10.6%) $397,106 (12.0%) 1.15 682
    2019-12-01 $351,900 (10.0%) $395,414 (10.5%) 1.17 631
    2020-01-01 $359,675 (12.4%) $401,282 (13.5%) 1.20 576
    2020-02-01 $373,415 (15.9%) $404,209 (14.2%) 1.22 497
    2020-03-01 $384,925 (13.6%) $416,184 (12.4%) 1.21 498
    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 (16.0%) 1.15 465
    2020-10-01 $399,900 (15.6%) $452,538 (18.7%) 1.15 469
    2020-11-01 $402,725 (15.1%) $458,393 (15.4%) 1.18 416
    2020-12-01 $418,400 (18.9%) $467,591 (18.3%) 1.24 347
    2021-01-01 $418,825 (16.5%) $472,255 (17.7%) 1.25 313
    2021-02-01 $427,450 (14.5%) $487,732 (20.7%) 1.24 280
    2021-03-01 $440,925 (14.6%) $488,179 (17.3%) 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%) $565,657 (9.5%) 1.18 540
    2022-08-01 $525,000 (3.7%) $567,134 (5.2%) 1.21 571
    2022-09-01 $539,700 (8.1%) $580,669 (9.1%) 1.26 547
    2022-10-01 $549,900 (7.2%) $583,976 (5.7%) 1.29 641
    2022-11-01 $546,000 (3.6%) $582,037 (2.8%) 1.31 674
    2022-12-01 $549,900 (3.4%) $577,267 (0.2%) 1.36 613
    2023-01-01 $551,950 (0.1%) $575,846 (-1.0%) 1.37 554
    2023-02-01 $559,450 (4.6%) $580,836 (1.4%) 1.35 525
    2023-03-01 $549,948 (1.4%) $584,334 (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%) $600,010 (6.2%) 1.23 601
    2023-06-01 $542,850 (1.1%) $595,611 (3.8%) 1.22 644
    2023-07-01 $549,875 (4.7%) $608,595 (7.6%) 1.25 655
    2023-08-01 $541,263 (3.1%) $610,331 (7.6%) 1.24 707
    2023-09-01 $534,875 (-0.9%) $601,651 (3.6%) 1.25 751
    2023-10-01 $517,500 (-5.9%) $589,543 (1.0%) 1.22 775
    2023-11-01 $519,900 (-4.8%) $588,596 (1.1%) 1.24 795
    2023-12-01 $517,900 (-5.8%) $582,290 (0.9%) 1.26 751
    2024-01-01 $519,113 (-6.0%) $582,593 (1.2%) 1.27 689
    2024-02-01 $501,148 (-10.4%) $569,972 (-1.9%) 1.21 669
    2024-03-01 $515,000 (-6.4%) $584,268 (0.0%) 1.21 638
    Kennewick's median listing price for 2024-03-01 was $515,000, a difference of $-34,948 (-6.4%) versus the prior year and $13,852 versus the prior month.

    Kennewick's median listing price comes in at 121% of the national average.

    Kennewick's average listing price for 2024-03-01 was $584,268, a difference of $-66 (0.0%) versus the prior year and $14,296 versus the prior month.

    For the 2024-03-01 period, Kennewick had 638 MLS listings, a difference of -31 listings (-5%) versus the prior month and 134 listings (27%) 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 2,214 sqft
    2019-09-01 40 days 2,197 sqft
    2019-10-01 46 days 2,185 sqft
    2019-11-01 46 days 2,234 sqft
    2019-12-01 53 days 2,161 sqft
    2020-01-01 60 days 2,194 sqft
    2020-02-01 56 days 2,200 sqft
    2020-03-01 37 days 2,205 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 2,254 sqft
    2022-10-01 44 days 2,200 sqft
    2022-11-01 50 days 2,177 sqft
    2022-12-01 68 days 2,146 sqft
    2023-01-01 79 days 2,140 sqft
    2023-02-01 83 days 2,167 sqft
    2023-03-01 59 days 2,200 sqft
    2023-04-01 53 days 2,167 sqft
    2023-05-01 44 days 2,158 sqft
    2023-06-01 45 days 2,137 sqft
    2023-07-01 52 days 2,192 sqft
    2023-08-01 46 days 2,194 sqft
    2023-09-01 49 days 2,168 sqft
    2023-10-01 53 days 2,133 sqft
    2023-11-01 59 days 2,144 sqft
    2023-12-01 68 days 2,092 sqft
    2024-01-01 78 days 2,085 sqft
    2024-02-01 70 days 2,025 sqft
    2024-03-01 53 days 2,021 sqft
    Kennewick's median listing age (time on market) for 2024-03-01 was 53 days. This is -10% shorter than the same period one year ago.

    Kennewick's median square footage for active listings during the 2024-03-01 period was 2,021 sqft. One year prior, the average listing was 2,200 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.