Moses Lake VA Loan Rates, Closing Costs & Stats

Moses Lake, WA

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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.

    Moses Lake's 30 lenders originated 91 VA loans during 2023. The total origination value was $30,745,000, with an average VA loan value of $337,857.

    Moses Lake VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Moses Lake averaged 6.75% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Moses Lake's average VA mortgage closing costs are $6,535.

    The average rate for the prior week (2024-11-01) was 6.41% and one month ago for the week of 2024-10-04, the average rate was 5.83%.

    The average rate one year ago was 7.49%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.34%.

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

    Moses Lake 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 Moses Lake level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 16 6.56% $4,883
    GUILD MORTGAGE COMPANY 13 6.61% $16,837
    NAVY FEDERAL CREDIT UNION 7 5.52% $5,443
    QUICKEN LOANS, LLC 6 6.08% $16,704
    MOVEMENT MORTGAGE, LLC 5 6.68% $5,508
    CMG MORTGAGE, INC. 4 6.44% $16,910
    NEWREZ LLC 3 5.88% $10,212
    PENNYMAC LOAN SERVICES, LLC 3 5.33% $4,072
    FREEDOM MORTGAGE CORPORATION 3 6.42% $28,549
    The Federal Savings Bank 3 6.75% $14,029
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.44% $10,040
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.37% $6,647
    Mr. Cooper ( Nationstar Mortgage ) 2 6.38% $11,754
    UNITED WHOLESALE MORTGAGE, LLC 2 6.88% $10,188
    Wheatland Bank 2 5.81% $14,343
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $11,241
    Flagstar Bank, FSB 1 6.25% $6,107
    USAA Federal Savings Bank 1 6.50% $6,416
    Equity Prime Mortgage LLC 1 6.50% $4,098
    CONTOUR MORTGAGE CORPORATION 1 5.63% $12,324
    CARDINAL FINANCIAL 1 6.63% $29,211
    PENTAGON FEDERAL CREDIT UNION 1 5.63% $3,968
    CALIBER HOME LOANS, INC. 1 5.25% $2,275
    RESIDENTIAL BANCORP 1 5.75% $12,252
    T2 FINANCIAL LLC 1 6.63% $18,854
    Banner Bank 1 7.13% $7,777
    Wells Fargo Bank 1 6.00% $19,169
    HORIZON 1 6.25% $6,475
    MANN FINANCIAL INC. 1 7.13% $12,210
    GUARANTEED RATE, INC. 1 6.25% $2,456

    The top Moses Lake VA lender as defined by loan originations is Mortgage Research Center, LLC, with 16 VA loans originated. Their average total fees are $4,883, which is $11,954 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Moses Lake VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,883), GUILD MORTGAGE COMPANY ($16,837), .

    The lowest rate Moses Lake VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.56%), GUILD MORTGAGE COMPANY (6.61%), .

    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.