Mount Vernon VA Loan Rates, Closing Costs & Stats

MOUNT VERNON-ANACORTES, 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.

    Mount Vernon's 42 lenders originated 146 VA loans during 2023. The total origination value was $78,990,000, with an average VA loan value of $541,027.

    Mount Vernon VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Mount Vernon averaged 6.73% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Mount Vernon's average VA mortgage closing costs are $8,243.

    The average rate for the prior week (2024-11-01) was 6.68% and one month ago for the week of 2024-10-04, the average rate was 5.71%.

    The average rate one year ago was 7.47%.

    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.

    Mount Vernon 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 Mount Vernon level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 15 6.48% $12,932
    NAVY FEDERAL CREDIT UNION 14 5.67% $8,396
    CMG MORTGAGE, INC. 10 6.15% $16,795
    GUILD MORTGAGE COMPANY 9 6.26% $15,525
    QUICKEN LOANS, LLC 8 5.96% $12,816
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 6 6.85% $15,986
    CROSSCOUNTRY MORTGAGE, LLC 5 6.18% $16,435
    UNITED WHOLESALE MORTGAGE, LLC 5 5.99% $13,010
    CORNERSTONE HOME LENDING, INC. 4 6.44% $9,592
    Flagstar Bank, FSB 4 6.65% $10,382
    FREEDOM MORTGAGE CORPORATION 4 6.06% $20,609
    MOVEMENT MORTGAGE, LLC 4 6.59% $17,870
    USAA Federal Savings Bank 4 6.47% $15,171
    ACADEMY MORTGAGE CORPORATION 3 6.63% $25,967
    PENNYMAC LOAN SERVICES, LLC 3 5.58% $17,168
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 5.62% $15,556
    PENTAGON FEDERAL CREDIT UNION 2 6.69% $4,935
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 5.81% $36,103
    ENVOY MORTGAGE, LTD 2 6.75% $17,401
    Mr. Cooper ( Nationstar Mortgage ) 2 6.75% $13,775
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 5.56% $5,800
    BAY EQUITY LLC 2 6.69% $8,935
    Credence Funding Corporation 2 5.38% $5,455
    Willamette Valley Bank 1 7.50% $23,861
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $27,816
    Banner Bank 1 5.88% $15,884
    BROKER SOLUTIONS, INC. 1 5.88% $17,543
    CARDINAL FINANCIAL 1 5.50% $14,031
    DIRECTORS MORTGAGE, INC. 1 7.38% $23,474
    Ixonia Bank 1 7.00% $33,666
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $11,720
    MANN FINANCIAL INC. 1 6.50% $26,616
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $0
    Paramount Residential Mortgage Group, Inc. 1 5.00% $23,121
    Plains Commerce Bank 1 6.50% $3,496
    PLANET HOME LENDING, LLC 1 5.99% $18,286
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $15,155
    SIRVA MORTGAGE, INC. 1 5.63% $11,910
    The Central Trust Bank 1 5.50% $6,963
    The Federal Savings Bank 1 5.25% $20,734
    Umpqua Bank 1 6.25% $18,231
    1st Security Bank of Washington 1 6.50% $20,329

    The top Mount Vernon VA lender as defined by loan originations is Mortgage Research Center, LLC, with 15 VA loans originated. Their average total fees are $12,932, which is $4,536 higher than the next largest lender, NAVY FEDERAL CREDIT UNION.

    The lowest fee Mount Vernon VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($8,396), Mortgage Research Center, LLC ($12,932), CMG MORTGAGE, INC. ($16,795), .

    The lowest rate Mount Vernon VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.67%), CMG MORTGAGE, INC. (6.15%), Mortgage Research Center, LLC (6.48%), .

    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.