Lancaster VA Loans

LANCASTER, PA

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.

Lancaster's 103 lenders originated 998 VA loans during 2021. The total origination value was $248,960,000, with an average VA loan value of $249,459.

Lancaster VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Lancaster averaged 5.39% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.52% and one month ago for the week of 2022-04-08, the average rate was 5.14%.

The average rate one year ago was 3.26%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.42%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Lancaster 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 Lancaster level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 105 2.83% $6,852
QUICKEN LOANS, LLC 79 2.48% $6,050
FREEDOM MORTGAGE CORPORATION 63 2.52% $3,101
PENNYMAC LOAN SERVICES, LLC 52 2.39% $5,492
NEW DAY FINANCIAL, LLC 36 2.80% $10,747
CALIBER HOME LOANS, INC. 29 2.51% $6,487
RESIDENTIAL MORTGAGE SERVICES, INC. 24 2.73% $6,864
VILLAGE CAPITAL & INVESTMENT LLC 22 2.31% $4,294
UNITED WHOLESALE MORTGAGE, LLC 21 2.49% $6,001
USAA Federal Savings Bank 21 2.77% $5,812
Mr. Cooper ( Nationstar Mortgage ) 19 2.82% $5,247
NAVY FEDERAL CREDIT UNION 19 2.55% $6,430
Wells Fargo Bank 17 2.62% $5,105
Homesale Mortgage, LLC 14 2.87% $8,901
LOANDEPOT.COM, LLC 13 2.59% $7,070
CLEARPATH LENDING 13 2.35% $4,481
LAKEVIEW LOAN SERVICING, LLC 12 2.62% $3,339
BROKER SOLUTIONS, INC. 12 3.01% $12,302
CROSSCOUNTRY MORTGAGE, LLC 11 2.88% $9,500
Citizens Bank 11 2.56% $9,517
Sierra Pacific Mortgage Company, Inc. 10 2.86% $7,966
The Federal Savings Bank 10 2.46% $12,866
HOME POINT FINANCIAL CORPORATION 9 2.56% $5,387
AMERICAN FINANCIAL NETWORK, INC. 9 2.44% $8,527
Carrington Mortgage Services, LLC 9 2.92% $5,831
GUARANTEED RATE, INC. 7 2.70% $8,063
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 2.68% $7,121
Mortgage America, Inc. 6 2.96% $7,183
HOMEBRIDGE FINANCIAL SERVICES, INC. 6 2.75% $5,984
RELIANCE FIRST CAPITAL, LLC 5 2.68% $6,477
Barrington Bank & Trust Company, N.A. 5 2.79% $6,884
Keystone Funding, Inc. 5 2.70% $8,062
Fulton Bank 5 2.78% $8,189
The Ephrata National Bank 5 2.98% $10,390
PENTAGON FEDERAL CREDIT UNION 5 2.35% $3,948
First Guaranty Mortgage Corporation 4 2.56% $5,622
AMERISAVE MORTGAGE CORPORATION 4 3.44% $3,833
InterContinental Capital Group, Inc 4 2.25% $4,461
NEWREZ LLC 4 2.69% $6,687
PLANET HOME LENDING, LLC 4 2.41% $1,745
GUILD MORTGAGE COMPANY 4 3.41% $7,590
AMERICAN FINANCING CORPORATION 4 2.34% $5,113
Meridian Bank Corporation 4 2.44% $9,160
AmRes Corporation 4 2.78% $9,324
NP, Inc. 3 2.29% $5,938
First Federal Bank 3 2.79% $15,137
ACCELERATE MORTGAGE, LLC 3 1.92% $9,148
SOVEREIGN LENDING GROUP INCORPORATED 3 2.75% $4,634
GUARANTEED RATE AFFINITY, LLC 3 2.54% $6,421
EMM LOANS LLC 3 2.63% $5,445
Paramount Residential Mortgage Group, Inc. 3 3.13% $8,925
Low VA Rates, LLC 3 2.42% $3,282
North American Savings Bank, F.S.B. 3 2.83% $5,000
MUTUAL OF OMAHA MORTGAGE, INC. 2 2.63% $7,175
Magnolia Bank 2 2.50% $5,645
Manufacturers and Traders Trust Company 2 2.81% $6,012
HOMESTEAD FUNDING CORP. 2 3.13% $4,044
AmeriHome Mortgage Company, LLC 2 3.00% $2,797
Nations Lending Corporation 2 2.50% $12,727
CONTOUR MORTGAGE CORPORATION 2 3.00% $13,392
Wyndham Capital Mortgage, Inc. 2 2.31% $2,652
FBC MORTGAGE, LLC 2 2.50% $5,560
TIDEWATER MORTGAGE SERVICES, INC. 2 2.88% $11,418
MOVEMENT MORTGAGE, LLC 2 2.50% $10,660
FINANCE OF AMERICA MORTGAGE LLC 2 3.00% $11,286
Lakeview Community Capital, LLC 2 2.31% $3,277
Northpointe Bank 2 2.38% $4,286
SUN WEST MORTGAGE COMPANY, INC. 1 2.25% $3,008
Acre Mortgage and Financial Inc 1 2.88% $5,200
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.00% $5,212
BAY CAPITAL MORTGAGE CORPORATION 1 2.88% $4,946
Blue Ridge Bank 1 2.50% $3,332
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.25% $4,110
CHURCHILL MORTGAGE CORPORATION 1 2.50% $25,573
CMG MORTGAGE, INC. 1 3.75% $4,493
Colonial Savings, F.A. 1 2.25% $7,358
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 2.88% $5,185
EMBRACE HOME LOANS, INC. 1 2.25% $2,754
EQUITY RESOURCES, INC. 1 2.25% $4,912
Evesham Mortgage, LLC 1 3.13% $13,656
First Savings Bank 1 2.25% $2,380
Flagstar Bank, FSB 1 2.48% $3,500
HomePromise Corporation 1 3.13% $5,515
HOMESIDE FINANCIAL, LLC 1 2.25% $3,304
HOMESPIRE MORTGAGE CORPORATION 1 2.88% $3,795
LENDUS, LLC 1 3.25% $4,374
MCLEAN MORTGAGE CORPORATION 1 2.63% $3,722
MEMBERS 1ST FEDERAL CREDIT UNION 1 2.63% $3,301
Mid-Continent Funding, Inc. 1 2.38% $4,775
MORTGAGE ACCESS CORP. 1 2.25% $4,259
NBKC BANK 1 2.25% $2,766
NFM, INC. 1 2.88% $8,521
Peoples Bank 1 3.13% $34,900
PHH Mortgage Corporation 1 3.75% $3,321
PNC Bank 1 3.13% $5,073
Princeton Mortgage Corporation 1 2.75% $6,373
STEARNS LENDING, LLC 1 2.75% $3,564
SUCCESS MORTGAGE PARTNERS, INC. 1 3.13% $5,930
ACADEMY MORTGAGE CORPORATION 1 3.75% $21,819
SWBC MORTGAGE CORPORATION 1 2.88% $4,684
TJC Mortgage, Inc. 1 2.25% $5,763
Univest Bank and Trust Co. 1 2.50% $6,738
Watermark Capital, Inc. 1 2.38% $5,004

The top Lancaster VA lender as defined by loan originations is Mortgage Research Center, LLC, with 105 VA loans originated. Their average total fees are $6,852, which is $802 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Lancaster VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($3,101), LAKEVIEW LOAN SERVICING, LLC ($3,339), VILLAGE CAPITAL & INVESTMENT LLC ($4,294), CLEARPATH LENDING ($4,481) and Wells Fargo Bank ($5,105).

The lowest rate Lancaster VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.31%), CLEARPATH LENDING (2.35%), PENNYMAC LOAN SERVICES, LLC (2.39%), The Federal Savings Bank (2.46%) and QUICKEN LOANS, LLC (2.48%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Lancaster (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 $259,900 (5.2%) $296,472 (3.3%) 0.96 1,222
2018-02-01 $269,700 (10.1%) $307,268 (6.2%) 0.97 1,169
2018-03-01 $274,900 (11.3%) $315,738 (7.9%) 0.95 1,155
2018-04-01 $269,995 (8.9%) $310,733 (4.8%) 0.91 1,214
2018-05-01 $275,000 (10.0%) $316,735 (4.6%) 0.92 1,207
2018-06-01 $275,000 (10.0%) $317,224 (4.9%) 0.92 1,284
2018-07-01 $275,000 (10.6%) $320,266 (6.7%) 0.92 1,332
2018-08-01 $274,900 (11.2%) $321,069 (8.1%) 0.92 1,321
2018-09-01 $274,900 (10.0%) $321,473 (9.1%) 0.92 1,302
2018-10-01 $272,250 (8.9%) $322,768 (8.9%) 0.91 1,305
2018-11-01 $269,900 (8.0%) $320,442 (10.4%) 0.90 1,313
2018-12-01 $274,900 (8.1%) $323,370 (12.1%) 0.94 1,248
2019-01-01 $276,945 (6.6%) $325,366 (9.8%) 0.96 1,190
2019-02-01 $279,450 (3.6%) $327,927 (6.7%) 0.94 1,121
2019-03-01 $287,709 (4.7%) $335,781 (6.4%) 0.94 1,079
2019-04-01 $295,214 (9.3%) $343,095 (10.4%) 0.93 1,071
2019-05-01 $292,450 (6.4%) $341,949 (8.0%) 0.90 1,115
2019-06-01 $289,900 (5.4%) $346,400 (9.2%) 0.89 1,133
2019-07-01 $288,700 (5.0%) $347,206 (8.4%) 0.90 1,107
2019-08-01 $288,386 (4.9%) $349,334 (8.8%) 0.91 1,077
2019-09-01 $293,400 (6.7%) $353,782 (10.1%) 0.93 1,034
2019-10-01 $291,880 (7.2%) $349,641 (8.3%) 0.93 1,074
2019-11-01 $294,900 (9.3%) $347,591 (8.5%) 0.95 1,039
2019-12-01 $299,900 (9.1%) $354,777 (9.7%) 1.00 898
2020-01-01 $306,682 (10.7%) $360,352 (10.8%) 1.02 801
2020-02-01 $319,900 (14.5%) $366,627 (11.8%) 1.03 738
2020-03-01 $320,950 (11.6%) $374,090 (11.4%) 1.00 716
2020-04-01 $326,250 (10.5%) $387,280 (12.9%) 1.02 695
2020-05-01 $319,900 (9.4%) $380,892 (11.4%) 0.97 724
2020-06-01 $319,450 (10.2%) $377,611 (9.0%) 0.93 743
2020-07-01 $324,400 (12.4%) $386,333 (11.3%) 0.93 660
2020-08-01 $334,900 (16.1%) $400,827 (14.7%) 0.96 604
2020-09-01 $328,050 (11.8%) $395,341 (11.8%) 0.94 570
2020-10-01 $329,900 (13.0%) $397,666 (13.7%) 0.94 539
2020-11-01 $329,900 (11.9%) $396,479 (14.1%) 0.94 515
2020-12-01 $332,248 (10.8%) $389,292 (9.7%) 0.97 482
2021-01-01 $341,900 (11.5%) $405,680 (12.6%) 1.01 411
2021-02-01 $354,900 (10.9%) $417,694 (13.9%) 1.02 353
2021-03-01 $350,200 (9.1%) $412,191 (10.2%) 0.98 356
2021-04-01 $349,450 (7.1%) $410,653 (6.0%) 0.94 386
2021-05-01 $349,900 (9.4%) $405,014 (6.3%) 0.92 396
2021-06-01 $322,425 (0.9%) $386,291 (2.3%) 0.84 464
2021-07-01 $316,200 (-2.5%) $381,896 (-1.2%) 0.82 453
2021-08-01 $327,700 (-2.2%) $410,176 (2.3%) 0.86 478
2021-09-01 $320,775 (-2.2%) $415,484 (5.1%) 0.84 470
2021-10-01 $320,000 (-3.0%) $412,193 (3.7%) 0.84 467
2021-11-01 $333,370 (1.1%) $421,756 (6.4%) 0.88 422
2021-12-01 $349,950 (5.3%) $436,522 (12.1%) 0.93 342
2022-01-01 $369,900 (8.2%) $484,855 (19.5%) 0.99 250
2022-02-01 $354,950 (0.0%) $462,765 (10.8%) 0.90 260
2022-03-01 $368,450 (5.2%) $438,264 (6.3%) 0.91 318
2022-04-01 $374,900 (7.3%) $452,988 (10.3%) 0.88 328
Lancaster's median listing price for 2022-04-01 was $374,900, a difference of $25,450 (7.3%) versus the prior year and $6,450 versus the prior month.

Lancaster's median listing price comes in at 88% of the national average.

Lancaster's average listing price for 2022-04-01 was $452,988, a difference of $42,335 (10.3%) versus the prior year and $14,724 versus the prior month.

For the 2022-04-01 period, Lancaster had 328 MLS listings, a difference of 10 listings (3%) versus the prior month and -58 listings (-15%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Lancaster (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 94 days 1,870 sqft
2018-02-01 96 days 1,897 sqft
2018-03-01 78 days 1,918 sqft
2018-04-01 65 days 1,898 sqft
2018-05-01 65 days 1,899 sqft
2018-06-01 53 days 2,056 sqft
2018-07-01 54 days 2,046 sqft
2018-08-01 62 days 2,032 sqft
2018-09-01 68 days 2,054 sqft
2018-10-01 66 days 2,002 sqft
2018-11-01 65 days 1,993 sqft
2018-12-01 78 days 1,975 sqft
2019-01-01 80 days 1,953 sqft
2019-02-01 80 days 1,965 sqft
2019-03-01 72 days 2,018 sqft
2019-04-01 51 days 2,084 sqft
2019-05-01 46 days 2,081 sqft
2019-06-01 51 days 2,057 sqft
2019-07-01 53 days 2,035 sqft
2019-08-01 53 days 2,033 sqft
2019-09-01 52 days 2,059 sqft
2019-10-01 51 days 2,062 sqft
2019-11-01 60 days 2,042 sqft
2019-12-01 77 days 2,050 sqft
2020-01-01 85 days 2,118 sqft
2020-02-01 85 days 2,183 sqft
2020-03-01 60 days 2,140 sqft
2020-04-01 77 days 2,160 sqft
2020-05-01 78 days 2,125 sqft
2020-06-01 47 days 2,150 sqft
2020-07-01 42 days 2,172 sqft
2020-08-01 46 days 2,210 sqft
2020-09-01 49 days 2,122 sqft
2020-10-01 52 days 2,100 sqft
2020-11-01 51 days 2,100 sqft
2020-12-01 59 days 2,018 sqft
2021-01-01 67 days 2,060 sqft
2021-02-01 68 days 2,096 sqft
2021-03-01 52 days 2,100 sqft
2021-04-01 35 days 2,076 sqft
2021-05-01 35 days 2,046 sqft
2021-06-01 39 days 1,904 sqft
2021-07-01 45 days 1,930 sqft
2021-08-01 41 days 1,974 sqft
2021-09-01 45 days 1,922 sqft
2021-10-01 46 days 1,948 sqft
2021-11-01 47 days 1,908 sqft
2021-12-01 58 days 1,908 sqft
2022-01-01 61 days 1,971 sqft
2022-02-01 43 days 1,952 sqft
2022-03-01 34 days 1,912 sqft
2022-04-01 37 days 1,955 sqft
Lancaster's median listing age (time on market) for 2022-04-01 was 37 days. This is 7% longer than the same period one year ago.

Lancaster's median square footage for active listings during the 2022-04-01 period was 1,955 sqft. One year prior, the average listing was 2,076 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.