Kennewick VA Loans

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 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.