Lawrence VA Loan Rates, Closing Costs & Stats

LAWRENCE, KS

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.

Lawrence's 25 lenders originated 77 VA loans during 2023. The total origination value was $24,595,000, with an average VA loan value of $319,416.

Lawrence VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Lawrence averaged 0.5% for the week of 2024-11-29, compared to the national average (all VA variants) of 0% for the same period.

Lawrence's average VA mortgage closing costs are $5,618.

The average rate for the prior week (2024-11-22) was 6.87% and one month ago for the week of 2024-10-25, the average rate was 6.67%.

The average rate one year ago was 7.31%.

For refis of the same type during the week of 2024-11-29, the average rate was 0%.

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

Lawrence 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 Lawrence level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 12 6.86% $6,637
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 6.66% $6,188
QUICKEN LOANS, LLC 7 6.20% $13,419
NAVY FEDERAL CREDIT UNION 6 6.00% $4,799
NBH Bank 6 6.06% $7,238
NEW DAY FINANCIAL, LLC 4 7.00% $14,851
USAA Federal Savings Bank 4 5.56% $10,886
NBKC BANK 3 5.75% $7,368
AMERISAVE MORTGAGE CORPORATION 2 5.50% $14,900
The Central Trust Bank 2 6.38% $4,775
Central National Bank 2 6.75% $1,157
First State Bank of St. Charles, Missouri 2 6.25% $5,370
North American Savings Bank, F.S.B. 1 6.13% $7,757
Plains Commerce Bank 1 5.75% $6,831
PLANET HOME LENDING, LLC 1 5.75% $2,384
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $9,131
Prosperity Home Mortgage, LLC 1 6.25% $1,469
BROKER SOLUTIONS, INC. 1 7.25% $23,400
Servion, Inc. 1 7.63% $1,687
UNITED WHOLESALE MORTGAGE, LLC 1 5.25% $10,922
MOVEMENT MORTGAGE, LLC 1 7.13% $1,829
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $11,156
MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $9,362
Equity Prime Mortgage LLC 1 7.25% $9,596
NEWREZ LLC 1 5.75% $19,389

The top Lawrence VA lender as defined by loan originations is Mortgage Research Center, LLC, with 12 VA loans originated. Their average total fees are $6,637, which is $449 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Lawrence VA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,188), Mortgage Research Center, LLC ($6,637), .

The lowest rate Lawrence VA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.66%), Mortgage Research Center, LLC (6.86%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Lawrence (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 $289,900 (28.9%) $345,537 (5.6%) 0.00 217
2018-02-01 $304,250 (26.8%) $348,417 (4.1%) 0.00 208
2018-03-01 $299,700 (16.4%) $355,314 (1.8%) 0.00 219
2018-04-01 $306,963 (12.3%) $355,672 (-1.1%) 0.00 235
2018-05-01 $312,875 (5.2%) $364,974 (0.2%) 0.00 258
2018-06-01 $295,900 (1.3%) $350,546 (-0.6%) 0.00 300
2018-07-01 $298,000 (1.3%) $350,665 (-2.2%) 0.00 340
2018-08-01 $278,900 (-1.3%) $337,867 (-3.1%) 0.00 348
2018-09-01 $279,925 (0.2%) $340,954 (1.0%) 0.00 343
2018-10-01 $282,475 (1.2%) $338,556 (1.6%) 0.00 326
2018-11-01 $279,925 (-2.5%) $333,430 (-1.0%) 0.00 324
2018-12-01 $284,450 (0.7%) $337,646 (0.7%) 0.00 287
2019-01-01 $300,000 (3.5%) $339,354 (-1.8%) 0.00 252
2019-02-01 $318,900 (4.8%) $339,542 (-2.6%) 0.00 240
2019-03-01 $313,921 (4.8%) $338,541 (-4.7%) 0.00 268
2019-04-01 $306,946 (0.0%) $339,081 (-4.7%) 0.00 294
2019-05-01 $317,450 (1.5%) $359,018 (-1.6%) 0.00 299
2019-06-01 $314,900 (6.4%) $351,277 (0.2%) 0.00 333
2019-07-01 $299,924 (0.7%) $350,612 (0.0%) 0.00 347
2019-08-01 $299,000 (7.2%) $349,978 (3.6%) 0.00 343
2019-09-01 $299,000 (6.8%) $352,743 (3.5%) 0.00 343
2019-10-01 $299,000 (5.9%) $352,515 (4.1%) 0.00 346
2019-11-01 $299,900 (7.1%) $356,531 (6.9%) 0.00 335
2019-12-01 $307,400 (8.1%) $361,759 (7.1%) 0.00 275
2020-01-01 $312,400 (4.1%) $366,565 (8.0%) 0.00 245
2020-02-01 $317,000 (-0.6%) $375,742 (10.7%) 0.00 246
2020-03-01 $322,450 (2.7%) $377,637 (11.6%) 0.00 257
2020-04-01 $326,975 (6.5%) $374,204 (10.4%) 0.00 259
2020-05-01 $329,900 (3.9%) $378,545 (5.4%) 0.00 249
2020-06-01 $322,900 (2.5%) $392,231 (11.7%) 0.00 212
2020-07-01 $325,175 (8.4%) $401,160 (14.4%) 0.00 185
2020-08-01 $308,000 (3.0%) $382,614 (9.3%) 0.00 175
2020-09-01 $289,925 (-3.0%) $362,219 (2.7%) 0.00 176
2020-10-01 $300,000 (0.3%) $379,948 (7.8%) 0.00 164
2020-11-01 $299,950 (0.0%) $383,591 (7.6%) 0.00 139
2020-12-01 $288,700 (-6.1%) $385,931 (6.7%) 0.00 110
2021-01-01 $299,900 (-4.0%) $382,786 (4.4%) 0.00 89
2021-02-01 $324,000 (2.2%) $402,219 (7.1%) 0.00 74
2021-03-01 $287,000 (-11.0%) $366,935 (-2.8%) 0.00 71
2021-04-01 $301,950 (-7.7%) $372,630 (-0.4%) 0.00 81
2021-05-01 $299,925 (-9.1%) $371,751 (-1.8%) 0.00 85
2021-06-01 $304,975 (-5.6%) $363,954 (-7.2%) 0.00 95
2021-07-01 $306,950 (-5.6%) $366,950 (-8.5%) 0.00 123
2021-08-01 $309,963 (0.6%) $356,178 (-6.9%) 0.00 143
2021-09-01 $329,925 (13.8%) $358,238 (-1.1%) 0.00 128
2021-10-01 $342,450 (14.2%) $372,969 (-1.8%) 0.00 135
2021-11-01 $351,425 (17.2%) $378,878 (-1.2%) 0.00 98
2021-12-01 $371,950 (28.8%) $397,007 (2.9%) 0.00 85
2022-01-01 $385,000 (28.4%) $460,368 (20.3%) 0.00 71
2022-02-01 $402,725 (24.3%) $469,367 (16.7%) 0.00 83
2022-03-01 $392,500 (36.8%) $445,117 (21.3%) 0.00 89
2022-04-01 $369,000 (22.2%) $447,970 (20.2%) 0.00 96
2022-05-01 $371,150 (23.8%) $441,490 (18.8%) 0.00 103
2022-06-01 $368,225 (20.7%) $431,828 (18.7%) 0.00 123
2022-07-01 $369,950 (20.5%) $433,539 (18.2%) 0.00 168
2022-08-01 $351,200 (13.3%) $423,978 (19.0%) 0.00 166
2022-09-01 $347,250 (5.3%) $446,214 (24.6%) 0.00 145
2022-10-01 $345,000 (0.7%) $441,049 (18.3%) 0.00 161
2022-11-01 $347,500 (-1.1%) $437,367 (15.4%) 0.00 145
2022-12-01 $350,000 (-5.9%) $433,599 (9.2%) 0.00 136
2023-01-01 $384,950 (0.0%) $469,412 (2.0%) 0.00 117
2023-02-01 $434,900 (8.0%) $499,840 (6.5%) 0.00 107
2023-03-01 $442,450 (12.7%) $520,053 (16.8%) 0.00 108
2023-04-01 $429,900 (16.5%) $518,398 (15.7%) 0.00 123
2023-05-01 $406,575 (9.5%) $486,391 (10.2%) 0.00 128
2023-06-01 $399,913 (8.6%) $479,633 (11.1%) 0.00 132
2023-07-01 $407,450 (10.1%) $487,183 (12.4%) 0.00 152
2023-08-01 $399,882 (13.9%) $477,400 (12.6%) 0.00 142
2023-09-01 $405,000 (16.6%) $464,863 (4.2%) 0.00 174
2023-10-01 $399,900 (15.9%) $461,403 (4.6%) 0.00 177
2023-11-01 $384,925 (10.8%) $458,921 (4.9%) 0.00 177
2023-12-01 $374,900 (7.1%) $458,257 (5.7%) 0.00 172
2024-01-01 $372,200 (-3.3%) $455,019 (-3.1%) 0.00 141
2024-02-01 $384,450 (-11.6%) $457,580 (-8.5%) 0.00 120
2024-03-01 $359,900 (-18.7%) $457,075 (-12.1%) 0.00 139
2024-04-01 $361,375 (-15.9%) $456,096 (-12.0%) 0.00 134
2024-05-01 $384,000 (-5.6%) $476,672 (-2.0%) 0.00 146
2024-06-01 $349,900 (-12.5%) $457,659 (-4.6%) 0.00 181
2024-07-01 $356,863 (-12.4%) $454,492 (-6.7%) 0.00 204
2024-08-01 $349,900 (-12.5%) $430,329 (-9.9%) 0.00 206
2024-09-01 $350,000 (-13.6%) $454,454 (-2.2%) 0.00 207
2024-10-01 $352,500 (-11.9%) $471,436 (2.2%) 0.00 217
Lawrence's median listing price for 2024-10-01 was $352,500, a difference of $-47,400 (-11.9%) versus the prior year and $2,500 versus the prior month.

Lawrence's median listing price comes in at 0% of the national average.

Lawrence's average listing price for 2024-10-01 was $471,436, a difference of $10,033 (2.2%) versus the prior year and $16,982 versus the prior month.

For the 2024-10-01 period, Lawrence had 217 MLS listings, a difference of 10 listings (5%) versus the prior month and 40 listings (23%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Lawrence (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,170 sqft
2018-02-01 0 days 2,263 sqft
2018-03-01 0 days 2,467 sqft
2018-04-01 0 days 2,459 sqft
2018-05-01 0 days 2,459 sqft
2018-06-01 0 days 2,467 sqft
2018-07-01 0 days 2,400 sqft
2018-08-01 0 days 2,183 sqft
2018-09-01 0 days 2,165 sqft
2018-10-01 0 days 2,153 sqft
2018-11-01 0 days 2,138 sqft
2018-12-01 0 days 2,225 sqft
2019-01-01 0 days 2,301 sqft
2019-02-01 0 days 2,278 sqft
2019-03-01 0 days 2,305 sqft
2019-04-01 0 days 2,337 sqft
2019-05-01 0 days 2,470 sqft
2019-06-01 0 days 2,390 sqft
2019-07-01 0 days 2,285 sqft
2019-08-01 0 days 2,284 sqft
2019-09-01 0 days 2,309 sqft
2019-10-01 0 days 2,326 sqft
2019-11-01 0 days 2,328 sqft
2019-12-01 0 days 2,249 sqft
2020-01-01 0 days 2,251 sqft
2020-02-01 0 days 2,255 sqft
2020-03-01 0 days 2,296 sqft
2020-04-01 0 days 2,298 sqft
2020-05-01 0 days 2,350 sqft
2020-06-01 0 days 2,274 sqft
2020-07-01 0 days 2,292 sqft
2020-08-01 0 days 2,123 sqft
2020-09-01 0 days 1,975 sqft
2020-10-01 0 days 2,046 sqft
2020-11-01 0 days 1,998 sqft
2020-12-01 0 days 1,964 sqft
2021-01-01 0 days 1,864 sqft
2021-02-01 0 days 1,885 sqft
2021-03-01 0 days 1,842 sqft
2021-04-01 0 days 1,990 sqft
2021-05-01 0 days 1,965 sqft
2021-06-01 0 days 1,873 sqft
2021-07-01 0 days 1,975 sqft
2021-08-01 0 days 1,873 sqft
2021-09-01 0 days 1,905 sqft
2021-10-01 0 days 1,915 sqft
2021-11-01 0 days 1,903 sqft
2021-12-01 0 days 2,022 sqft
2022-01-01 0 days 2,016 sqft
2022-02-01 0 days 2,072 sqft
2022-03-01 0 days 1,964 sqft
2022-04-01 0 days 1,920 sqft
2022-05-01 0 days 1,939 sqft
2022-06-01 0 days 2,001 sqft
2022-07-01 0 days 2,105 sqft
2022-08-01 0 days 2,061 sqft
2022-09-01 0 days 2,033 sqft
2022-10-01 0 days 2,040 sqft
2022-11-01 0 days 2,029 sqft
2022-12-01 0 days 2,000 sqft
2023-01-01 0 days 2,202 sqft
2023-02-01 0 days 2,226 sqft
2023-03-01 0 days 2,212 sqft
2023-04-01 0 days 2,113 sqft
2023-05-01 0 days 2,268 sqft
2023-06-01 0 days 2,137 sqft
2023-07-01 0 days 2,197 sqft
2023-08-01 0 days 2,234 sqft
2023-09-01 0 days 2,197 sqft
2023-10-01 0 days 2,155 sqft
2023-11-01 0 days 2,037 sqft
2023-12-01 0 days 2,008 sqft
2024-01-01 0 days 1,788 sqft
2024-02-01 0 days 1,808 sqft
2024-03-01 0 days 1,808 sqft
2024-04-01 0 days 1,888 sqft
2024-05-01 0 days 1,948 sqft
2024-06-01 0 days 1,781 sqft
2024-07-01 0 days 1,782 sqft
2024-08-01 0 days 1,774 sqft
2024-09-01 0 days 1,788 sqft
2024-10-01 0 days 1,929 sqft
Lawrence's median listing age (time on market) for 2024-10-01 was 0 days.

Lawrence's median square footage for active listings during the 2024-10-01 period was 1,929 sqft. One year prior, the average listing was 2,155 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.