Kennewick VA Loan Rates, Closing Costs & Stats

KENNEWICK-RICHLAND, WA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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 6.48% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

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

    The average rate for the prior week (2024-07-12) was 6.42% and one month ago for the week of 2024-06-14, the average rate was 6.68%.

    The average rate one year ago was 6.86%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.63%.

    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%).

    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.