Lewiston VA Loans

LEWISTON, ID-WA

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.

Lewiston's 69 lenders originated 397 VA loans during 2021. The total origination value was $106,765,000, with an average VA loan value of $268,929.

Lewiston VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Lewiston averaged 5.71% 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 5.74% and one month ago for the week of 2022-04-08, the average rate was 5.16%.

The average rate one year ago was 3.18%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.49%.

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

Lewiston 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 Lewiston level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 38 2.48% $6,367
FREEDOM MORTGAGE CORPORATION 31 2.49% $4,589
Mortgage Research Center, LLC 24 2.81% $5,183
AMERICAN PACIFIC MORTGAGE CORPORATION 21 2.92% $10,054
NEW DAY FINANCIAL, LLC 18 2.84% $9,452
BAY EQUITY LLC 17 3.00% $5,633
HOMEBRIDGE FINANCIAL SERVICES, INC. 17 2.79% $6,451
SUMMIT FUNDING, INC. 15 3.21% $10,331
Wells Fargo Bank 15 2.52% $4,526
MANN FINANCIAL INC. 13 3.29% $5,453
PENNYMAC LOAN SERVICES, LLC 12 2.42% $4,828
CALIBER HOME LOANS, INC. 11 2.60% $7,002
UNITED WHOLESALE MORTGAGE, LLC 7 2.38% $3,509
LOANDEPOT.COM, LLC 6 2.64% $5,998
NAVY FEDERAL CREDIT UNION 6 2.33% $5,953
Mr. Cooper ( Nationstar Mortgage ) 6 2.81% $4,014
VILLAGE CAPITAL & INVESTMENT LLC 6 2.29% $3,531
Umpqua Bank 5 2.83% $5,257
USAA Federal Savings Bank 5 2.78% $1,599
The Federal Savings Bank 4 3.00% $8,918
CLEARPATH LENDING 4 2.41% $5,239
Mid-Continent Funding, Inc. 4 2.88% $6,698
Zions Bancorporation, N.A. 3 2.83% $2,298
BROKER SOLUTIONS, INC. 3 2.83% $9,609
HomeStreet Bank 3 2.75% $9,270
LAKEVIEW LOAN SERVICING, LLC 3 2.58% $2,855
ON Q FINANCIAL, INC. 2 2.63% $9,685
Low VA Rates, LLC 2 2.38% $4,672
Wyndham Capital Mortgage, Inc. 2 2.31% $3,031
Nations Lending Corporation 2 3.63% $8,838
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.13% $8,749
FINANCE OF AMERICA MORTGAGE LLC 2 3.06% $14,342
Columbia State Bank 2 2.56% $11,063
U.S. Bank 2 2.75% $13,943
S1L, Inc. 2 2.93% $5,691
AMERICAN FINANCING CORPORATION 2 2.31% $5,807
Washington Trust Bank 2 2.81% $16,966
ACCELERATE MORTGAGE, LLC 2 2.12% $5,909
NEWREZ LLC 2 2.94% $6,340
GUILD MORTGAGE COMPANY 2 2.50% $4,843
GUARANTEED RATE, INC. 2 2.81% $2,214
PLANET HOME LENDING, LLC 1 2.75% $2,102
PREMIER MORTGAGE RESOURCES, L.L.C. 1 2.25% $5,947
CMG MORTGAGE, INC. 1 3.13% $14,297
SOUTHWEST STAGE FUNDING, LLC 1 3.88% $3,959
SOVEREIGN LENDING GROUP INCORPORATED 1 2.99% $850
STEARNS LENDING, LLC 1 2.88% $7,415
CHURCHILL MORTGAGE CORPORATION 1 2.38% $4,424
CELEBRITY HOME LOANS, LLC 1 3.13% $16,541
Barrington Bank & Trust Company, N.A. 1 2.66% $1,648
Banner Bank 1 3.00% $2,951
AXIA FINANCIAL, LLC 1 2.88% $5,815
US MORTGAGE CORPORATION 1 2.25% $1,633
Willamette Valley Bank 1 2.88% $13,728
PENTAGON FEDERAL CREDIT UNION 1 2.25% $3,274
1st Security Bank of Washington 1 2.75% $5,502
LENDUS, LLC 1 2.25% $4,580
FIRST COLONY MORTGAGE CORPORATION 1 2.63% $11,167
Magnolia Bank 1 2.38% $24,016
Meridian Bank Corporation 1 2.25% $3,566
EVERETT FINANCIAL, INC. 1 3.00% $2,412
MOVEMENT MORTGAGE, LLC 1 3.25% $4,315
ENVOY MORTGAGE, LTD 1 2.75% $18,836
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.75% $1,189
NATIONS DIRECT MORTGAGE, LLC 1 2.50% $2,314
CONTOUR MORTGAGE CORPORATION 1 2.25% $11,776
NBKC BANK 1 2.75% $2,074
Colonial Savings, F.A. 1 2.50% $5,368
PHH Mortgage Corporation 1 3.88% $2,775

The top Lewiston VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 38 VA loans originated. Their average total fees are $6,367, which is $1,778 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee Lewiston VA lenders (with over 10 loans originated) are Wells Fargo Bank ($4,526), FREEDOM MORTGAGE CORPORATION ($4,589), PENNYMAC LOAN SERVICES, LLC ($4,828), Mortgage Research Center, LLC ($5,183) and MANN FINANCIAL INC. ($5,453).

The lowest rate Lewiston VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.42%), QUICKEN LOANS, LLC (2.48%), FREEDOM MORTGAGE CORPORATION (2.49%), Wells Fargo Bank (2.52%) and CALIBER HOME LOANS, INC. (2.60%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Lewiston (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 $229,500 (5.8%) $289,668 (-3.5%) 0.00 223
2018-02-01 $237,900 (10.7%) $288,260 (-4.1%) 0.00 208
2018-03-01 $240,000 (4.4%) $288,335 (8.9%) 0.00 244
2018-04-01 $249,900 (4.6%) $294,245 (8.7%) 0.00 270
2018-05-01 $249,950 (4.2%) $304,655 (13.0%) 0.00 298
2018-06-01 $249,900 (4.2%) $301,453 (14.6%) 0.00 295
2018-07-01 $253,500 (6.1%) $318,246 (22.2%) 0.00 299
2018-08-01 $252,500 (5.7%) $320,118 (20.4%) 0.00 295
2018-09-01 $254,000 (6.3%) $334,303 (24.1%) 0.00 278
2018-10-01 $247,250 (6.8%) $327,402 (22.1%) 0.00 265
2018-11-01 $239,900 (0.4%) $324,271 (15.2%) 0.00 254
2018-12-01 $240,000 (3.1%) $343,458 (20.7%) 0.00 195
2019-01-01 $244,750 (6.6%) $345,728 (19.4%) 0.00 179
2019-02-01 $249,450 (4.9%) $340,556 (18.1%) 0.00 185
2019-03-01 $249,386 (3.9%) $335,174 (16.2%) 0.00 248
2019-04-01 $249,950 (0.0%) $332,065 (12.9%) 0.00 326
2019-05-01 $292,375 (17.0%) $368,774 (21.1%) 0.00 144
2019-06-01 $287,500 (15.1%) $391,008 (29.7%) 0.00 144
2019-07-01 $288,500 (13.8%) $382,544 (20.2%) 0.00 146
2019-08-01 $283,286 (12.2%) $376,343 (17.6%) 0.00 146
2019-09-01 $278,036 (9.5%) $362,175 (8.3%) 0.00 163
2019-10-01 $272,000 (10.0%) $350,500 (7.1%) 0.00 160
2019-11-01 $259,900 (8.3%) $335,274 (3.4%) 0.00 157
2019-12-01 $263,700 (9.9%) $350,689 (2.1%) 0.00 130
2020-01-01 $268,700 (9.8%) $331,676 (-4.1%) 0.00 105
2020-02-01 $275,000 (10.2%) $333,516 (-2.1%) 0.00 100
2020-03-01 $272,400 (9.2%) $331,996 (-1.0%) 0.00 100
2020-04-01 $274,250 (9.7%) $343,869 (3.6%) 0.00 109
2020-05-01 $325,000 (11.2%) $416,257 (12.9%) 0.00 100
2020-06-01 $298,450 (3.8%) $420,210 (7.5%) 0.00 82
2020-07-01 $322,500 (11.8%) $436,845 (14.2%) 0.00 73
2020-08-01 $297,000 (4.8%) $423,919 (12.6%) 0.00 82
2020-09-01 $322,450 (16.0%) $420,533 (16.1%) 0.00 81
2020-10-01 $308,900 (13.6%) $448,801 (28.1%) 0.00 77
2020-11-01 $317,450 (22.1%) $468,327 (39.7%) 0.00 68
2020-12-01 $299,950 (13.8%) $468,807 (33.7%) 0.00 48
2021-01-01 $299,900 (11.6%) $473,361 (42.7%) 0.00 40
2021-02-01 $352,250 (28.1%) $550,318 (65.0%) 0.00 30
2021-03-01 $366,950 (34.7%) $551,788 (66.2%) 0.00 35
2021-04-01 $363,500 (32.5%) $589,285 (71.4%) 0.00 35
2021-05-01 $369,000 (13.5%) $553,258 (32.9%) 0.00 46
2021-06-01 $354,450 (18.8%) $553,265 (31.7%) 0.00 52
2021-07-01 $331,000 (2.6%) $508,387 (16.4%) 0.00 62
2021-08-01 $359,400 (21.0%) $554,148 (30.7%) 0.00 93
2021-09-01 $354,500 (9.9%) $575,575 (36.9%) 0.00 95
2021-10-01 $374,900 (21.4%) $572,496 (27.6%) 0.00 98
2021-11-01 $390,000 (22.9%) $590,751 (26.1%) 0.00 89
2021-12-01 $384,500 (28.2%) $607,516 (29.6%) 0.00 71
2022-01-01 $418,000 (39.4%) $640,192 (35.2%) 0.00 57
2022-02-01 $431,250 (22.4%) $714,083 (29.8%) 0.00 45
2022-03-01 $415,000 (13.1%) $667,034 (20.9%) 0.00 44
2022-04-01 $435,000 (19.7%) $622,802 (5.7%) 0.00 62
Lewiston's median listing price for 2022-04-01 was $435,000, a difference of $71,500 (19.7%) versus the prior year and $20,000 versus the prior month.

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

Lewiston's average listing price for 2022-04-01 was $622,802, a difference of $33,517 (5.7%) versus the prior year and $-44,232 versus the prior month.

For the 2022-04-01 period, Lewiston had 62 MLS listings, a difference of 18 listings (41%) versus the prior month and 27 listings (77%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Lewiston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,119 sqft
2018-02-01 0 days 2,153 sqft
2018-03-01 0 days 2,175 sqft
2018-04-01 0 days 2,216 sqft
2018-05-01 0 days 2,216 sqft
2018-06-01 0 days 2,240 sqft
2018-07-01 0 days 2,256 sqft
2018-08-01 0 days 2,262 sqft
2018-09-01 0 days 2,260 sqft
2018-10-01 0 days 2,198 sqft
2018-11-01 0 days 2,114 sqft
2018-12-01 0 days 2,166 sqft
2019-01-01 0 days 2,149 sqft
2019-02-01 0 days 2,109 sqft
2019-03-01 0 days 2,134 sqft
2019-04-01 0 days 2,128 sqft
2019-05-01 0 days 2,203 sqft
2019-06-01 0 days 2,184 sqft
2019-07-01 0 days 2,237 sqft
2019-08-01 0 days 2,335 sqft
2019-09-01 0 days 2,368 sqft
2019-10-01 0 days 2,348 sqft
2019-11-01 0 days 2,264 sqft
2019-12-01 0 days 2,301 sqft
2020-01-01 0 days 2,342 sqft
2020-02-01 0 days 2,288 sqft
2020-03-01 0 days 2,110 sqft
2020-04-01 0 days 2,058 sqft
2020-05-01 0 days 2,339 sqft
2020-06-01 0 days 2,190 sqft
2020-07-01 0 days 2,204 sqft
2020-08-01 0 days 2,413 sqft
2020-09-01 0 days 2,298 sqft
2020-10-01 0 days 2,200 sqft
2020-11-01 0 days 2,204 sqft
2020-12-01 0 days 2,150 sqft
2021-01-01 0 days 2,024 sqft
2021-02-01 0 days 2,074 sqft
2021-03-01 0 days 2,166 sqft
2021-04-01 0 days 2,005 sqft
2021-05-01 0 days 2,178 sqft
2021-06-01 0 days 2,184 sqft
2021-07-01 0 days 2,089 sqft
2021-08-01 0 days 2,110 sqft
2021-09-01 0 days 1,960 sqft
2021-10-01 0 days 2,056 sqft
2021-11-01 0 days 2,224 sqft
2021-12-01 0 days 2,040 sqft
2022-01-01 0 days 2,036 sqft
2022-02-01 0 days 2,036 sqft
2022-03-01 0 days 2,071 sqft
2022-04-01 0 days 2,036 sqft
Lewiston's median listing age (time on market) for 2022-04-01 was 0 days.

Lewiston's median square footage for active listings during the 2022-04-01 period was 2,036 sqft. One year prior, the average listing was 2,005 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.