Lawrence VA Loan Rates, Closing Costs & Stats

LAWRENCE, KS

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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 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 7.16% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 7.09% and one month ago for the week of 2024-03-15, the average rate was 6.76%.

    The average rate one year ago was 6.35%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

    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
    Lawrence's median listing price for 2024-03-01 was $359,900, a difference of $-82,550 (-18.7%) versus the prior year and $-24,550 versus the prior month.

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

    Lawrence's average listing price for 2024-03-01 was $457,075, a difference of $-62,978 (-12.1%) versus the prior year and $-505 versus the prior month.

    For the 2024-03-01 period, Lawrence had 139 MLS listings, a difference of 19 listings (16%) versus the prior month and 31 listings (29%) 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
    Lawrence's median listing age (time on market) for 2024-03-01 was 0 days.

    Lawrence's median square footage for active listings during the 2024-03-01 period was 1,808 sqft. One year prior, the average listing was 2,212 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.