Lawrence VA Loans

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 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.