Lancaster VA Loans

LANCASTER, PA

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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.

    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.