Lawrence VA Loans

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 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 64 lenders originated 246 VA loans during 2021. The total origination value was $69,090,000, with an average VA loan value of $280,854.

Lawrence VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Lawrence averaged 5.7% 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 5.33% and one month ago for the week of 2022-04-08, the average rate was 5.25%.

The average rate one year ago was 2.87%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.54%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Lawrence level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 19 2.53% $7,256
NBH Bank 18 2.42% $3,430
PENNYMAC LOAN SERVICES, LLC 17 2.50% $6,072
Mortgage Research Center, LLC 17 2.95% $5,980
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 2.98% $6,487
LAKEVIEW LOAN SERVICING, LLC 11 2.50% $2,206
USAA Federal Savings Bank 11 2.88% $4,953
NAVY FEDERAL CREDIT UNION 7 2.54% $3,007
FREEDOM MORTGAGE CORPORATION 6 2.38% $4,477
Wells Fargo Bank 5 2.50% $3,280
LOANDEPOT.COM, LLC 5 2.75% $4,150
MOVEMENT MORTGAGE, LLC 4 3.22% $7,952
The Federal Savings Bank 4 2.66% $5,767
NEW DAY FINANCIAL, LLC 4 3.03% $8,578
Barrington Bank & Trust Company, N.A. 3 3.00% $8,308
CALIBER HOME LOANS, INC. 3 2.75% $4,215
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 2.67% $12,270
First Home Bank 2 3.25% $4,339
AMERISAVE MORTGAGE CORPORATION 2 2.94% $6,449
Carrington Mortgage Services, LLC 2 2.50% $1,931
COMMUNITY MORTGAGE, LLC 2 2.44% $10,393
First Federal Bank 2 4.37% $5,285
First Federal Bank of Kansas City 2 2.75% $3,887
Mid-Continent Funding, Inc. 2 2.75% $6,066
NBKC BANK 2 2.75% $6,653
Prosperity Home Mortgage, LLC 2 3.13% $1,672
Sunflower Bank 2 3.06% $5,335
Low VA Rates, LLC 1 2.63% $1,393
Magnolia Bank 1 2.38% $18,457
Members Mortgage Services, L.L.C. 1 2.63% $8,987
VILLAGE CAPITAL & INVESTMENT LLC 1 2.25% $3,458
Mortgage Investment Services Corporation 1 2.50% $2,634
GERSHMAN INVESTMENT CORP. 1 3.25% $14,384
FLAT BRANCH MORTGAGE, INC. 1 2.63% $3,188
Mr. Cooper ( Nationstar Mortgage ) 1 3.00% $3,170
Flagstar Bank, FSB 1 2.25% $2,798
ACCELERATE MORTGAGE, LLC 1 2.25% $4,285
Capitol Federal Savings Bank 1 3.00% $10,223
First Guaranty Mortgage Corporation 1 2.75% $2,610
NEWREZ LLC 1 2.99% $1,580
North American Savings Bank, F.S.B. 1 2.63% $500
NP, Inc. 1 2.25% $13,019
OPEN MORTGAGE, LLC 1 3.13% $2,054
First Bank 1 2.25% $652
PENTAGON FEDERAL CREDIT UNION 1 2.25% $1,108
Plains Commerce Bank 1 2.25% $873
PLAZA HOME MORTGAGE, INC. 1 2.38% $2,150
PNC Bank 1 2.63% $1,037
Fidelity Bank 1 2.88% $3,198
Wyndham Capital Mortgage, Inc. 1 2.25% $1,208
CROSSCOUNTRY MORTGAGE, LLC 1 2.63% $7,703
RCB Bank 1 2.38% $7,823
Regent Financial Group, Inc. 1 2.75% $2,705
ZILLOW HOME LOANS, LLC 1 2.25% $3,897
SUN WEST MORTGAGE COMPANY, INC. 1 2.25% $4,377
The Central Trust Bank 1 3.13% $10,394
Citizens Bank 1 2.50% $4,655
TJC Mortgage, Inc. 1 2.38% $450
UNITED WHOLESALE MORTGAGE, LLC 1 2.50% $6,210
Central National Bank 1 2.88% $9,675
Ixonia Bank 1 3.88% $162
HOME POINT FINANCIAL CORPORATION 1 2.75% $11,459
Landmark National Bank 1 2.63% $936
GUILD MORTGAGE COMPANY 1 3.50% $10,841

The top Lawrence VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 19 VA loans originated. Their average total fees are $7,256, which is $3,826 higher than the next largest lender, NBH Bank.

The lowest fee Lawrence VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,206), NBH Bank ($3,430), USAA Federal Savings Bank ($4,953), Mortgage Research Center, LLC ($5,980) and PENNYMAC LOAN SERVICES, LLC ($6,072).

The lowest rate Lawrence VA lenders (with over 10 loans originated) are NBH Bank (2.42%), PENNYMAC LOAN SERVICES, LLC (2.50%), LAKEVIEW LOAN SERVICING, LLC (2.50%), QUICKEN LOANS, LLC (2.53%) and USAA Federal Savings Bank (2.88%).


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 $292,400 (33.0%) $335,842 (2.5%) 0.00 290
2018-02-01 $312,000 (30.0%) $344,787 (2.4%) 0.00 267
2018-03-01 $299,900 (15.4%) $350,754 (0.9%) 0.00 286
2018-04-01 $307,475 (18.3%) $351,998 (-1.5%) 0.00 309
2018-05-01 $317,500 (8.9%) $370,219 (2.0%) 0.00 331
2018-06-01 $309,900 (10.7%) $357,676 (0.4%) 0.00 398
2018-07-01 $303,700 (5.1%) $349,806 (-3.1%) 0.00 454
2018-08-01 $296,950 (7.1%) $343,766 (0.9%) 0.00 456
2018-09-01 $298,900 (12.2%) $349,433 (7.9%) 0.00 447
2018-10-01 $289,900 (5.4%) $346,829 (7.7%) 0.00 422
2018-11-01 $287,475 (1.8%) $340,778 (4.0%) 0.00 422
2018-12-01 $300,000 (7.2%) $347,749 (7.3%) 0.00 367
2019-01-01 $322,500 (10.3%) $347,037 (3.3%) 0.00 324
2019-02-01 $327,450 (5.0%) $342,919 (-0.5%) 0.00 308
2019-03-01 $325,657 (8.6%) $342,828 (-2.3%) 0.00 339
2019-04-01 $320,707 (4.3%) $345,038 (-2.0%) 0.00 371
2019-05-01 $324,950 (2.4%) $366,730 (-0.9%) 0.00 382
2019-06-01 $324,900 (4.8%) $362,611 (1.4%) 0.00 436
2019-07-01 $307,450 (1.2%) $353,850 (1.2%) 0.00 465
2019-08-01 $295,614 (-0.5%) $342,726 (-0.3%) 0.00 458
2019-09-01 $295,614 (-1.1%) $343,254 (-1.8%) 0.00 442
2019-10-01 $299,900 (3.5%) $352,129 (1.5%) 0.00 455
2019-11-01 $299,900 (4.3%) $357,884 (5.0%) 0.00 433
2019-12-01 $304,950 (1.7%) $358,977 (3.2%) 0.00 346
2020-01-01 $312,500 (-3.1%) $365,243 (5.3%) 0.00 299
2020-02-01 $319,000 (-2.6%) $375,529 (9.5%) 0.00 304
2020-03-01 $331,450 (1.8%) $384,389 (12.1%) 0.00 325
2020-04-01 $337,450 (5.2%) $384,104 (11.3%) 0.00 324
2020-05-01 $339,900 (4.6%) $387,643 (5.7%) 0.00 302
2020-06-01 $329,900 (1.5%) $405,492 (11.8%) 0.00 260
2020-07-01 $326,450 (6.2%) $406,111 (14.8%) 0.00 233
2020-08-01 $315,000 (6.6%) $391,715 (14.3%) 0.00 222
2020-09-01 $298,000 (0.8%) $363,342 (5.9%) 0.00 221
2020-10-01 $309,000 (3.0%) $387,558 (10.1%) 0.00 202
2020-11-01 $299,950 (0.0%) $387,903 (8.4%) 0.00 172
2020-12-01 $299,450 (-1.8%) $393,506 (9.6%) 0.00 139
2021-01-01 $300,000 (-4.0%) $392,813 (7.6%) 0.00 112
2021-02-01 $314,950 (-1.3%) $396,487 (5.6%) 0.00 82
2021-03-01 $283,450 (-14.5%) $356,131 (-7.4%) 0.00 80
2021-04-01 $297,000 (-12.0%) $364,180 (-5.2%) 0.00 91
2021-05-01 $304,900 (-10.3%) $370,087 (-4.5%) 0.00 105
2021-06-01 $294,475 (-10.7%) $360,330 (-11.1%) 0.00 114
2021-07-01 $308,450 (-5.5%) $376,523 (-7.3%) 0.00 143
2021-08-01 $302,000 (-4.1%) $347,911 (-11.2%) 0.00 165
2021-09-01 $312,450 (4.9%) $353,901 (-2.6%) 0.00 155
2021-10-01 $339,950 (10.0%) $370,776 (-4.3%) 0.00 166
2021-11-01 $352,500 (17.5%) $386,535 (-0.4%) 0.00 115
2021-12-01 $368,950 (23.2%) $398,263 (1.2%) 0.00 101
2022-01-01 $385,000 (28.3%) $437,050 (11.3%) 0.00 89
2022-02-01 $390,450 (24.0%) $445,298 (12.3%) 0.00 95
2022-03-01 $389,950 (37.6%) $426,377 (19.7%) 0.00 103
2022-04-01 $369,900 (24.6%) $432,225 (18.7%) 0.00 112
Lawrence's median listing price for 2022-04-01 was $369,900, a difference of $72,900 (24.6%) versus the prior year and $-20,050 versus the prior month.

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

Lawrence's average listing price for 2022-04-01 was $432,225, a difference of $68,045 (18.7%) versus the prior year and $5,848 versus the prior month.

For the 2022-04-01 period, Lawrence had 112 MLS listings, a difference of 9 listings (9%) versus the prior month and 21 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 2,180 sqft
2018-02-01 0 days 2,295 sqft
2018-03-01 0 days 2,467 sqft
2018-04-01 0 days 2,458 sqft
2018-05-01 0 days 2,484 sqft
2018-06-01 0 days 2,518 sqft
2018-07-01 0 days 2,441 sqft
2018-08-01 0 days 2,219 sqft
2018-09-01 0 days 2,222 sqft
2018-10-01 0 days 2,222 sqft
2018-11-01 0 days 2,212 sqft
2018-12-01 0 days 2,381 sqft
2019-01-01 0 days 2,364 sqft
2019-02-01 0 days 2,301 sqft
2019-03-01 0 days 2,344 sqft
2019-04-01 0 days 2,420 sqft
2019-05-01 0 days 2,495 sqft
2019-06-01 0 days 2,490 sqft
2019-07-01 0 days 2,338 sqft
2019-08-01 0 days 2,250 sqft
2019-09-01 0 days 2,219 sqft
2019-10-01 0 days 2,341 sqft
2019-11-01 0 days 2,342 sqft
2019-12-01 0 days 2,242 sqft
2020-01-01 0 days 2,262 sqft
2020-02-01 0 days 2,278 sqft
2020-03-01 0 days 2,354 sqft
2020-04-01 0 days 2,357 sqft
2020-05-01 0 days 2,412 sqft
2020-06-01 0 days 2,430 sqft
2020-07-01 0 days 2,412 sqft
2020-08-01 0 days 2,200 sqft
2020-09-01 0 days 2,007 sqft
2020-10-01 0 days 2,137 sqft
2020-11-01 0 days 2,014 sqft
2020-12-01 0 days 2,059 sqft
2021-01-01 0 days 1,950 sqft
2021-02-01 0 days 1,954 sqft
2021-03-01 0 days 1,818 sqft
2021-04-01 0 days 1,995 sqft
2021-05-01 0 days 1,929 sqft
2021-06-01 0 days 1,900 sqft
2021-07-01 0 days 2,009 sqft
2021-08-01 0 days 1,844 sqft
2021-09-01 0 days 1,929 sqft
2021-10-01 0 days 1,975 sqft
2021-11-01 0 days 1,897 sqft
2021-12-01 0 days 2,006 sqft
2022-01-01 0 days 1,980 sqft
2022-02-01 0 days 2,105 sqft
2022-03-01 0 days 2,032 sqft
2022-04-01 0 days 2,040 sqft
Lawrence's median listing age (time on market) for 2022-04-01 was 0 days.

Lawrence's median square footage for active listings during the 2022-04-01 period was 2,040 sqft. One year prior, the average listing was 1,995 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.