Kennewick VA Loan Rates, Closing Costs & Stats

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 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 6.95% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

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

The average rate for the prior week (2024-04-05) was 6.5% and one month ago for the week of 2024-03-08, the average rate was 6.53%.

The average rate one year ago was 6.03%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.6%.

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.