Oak Harbor VA Loan Rates, Closing Costs & Stats

Oak Harbor, WA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Oak Harbor's 58 lenders originated 375 VA loans during 2023. The total origination value was $169,815,000, with an average VA loan value of $452,840.

    Oak Harbor VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Oak Harbor averaged 6.49% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Oak Harbor's average VA mortgage closing costs are $7,943.

    The average rate for the prior week (2024-11-01) was 6.25% and one month ago for the week of 2024-10-04, the average rate was 5.58%.

    The average rate one year ago was 7.13%.

    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.

    Oak Harbor 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 Oak Harbor level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 57 5.70% $15,307
    ENVOY MORTGAGE, LTD 39 6.27% $13,035
    Mortgage Research Center, LLC 31 6.67% $8,726
    UNITED WHOLESALE MORTGAGE, LLC 28 6.10% $11,713
    CMG MORTGAGE, INC. 25 6.23% $15,707
    NAVY FEDERAL CREDIT UNION 25 5.76% $11,478
    Alaska USA Federal Credit Union 18 6.19% $11,396
    QUICKEN LOANS, LLC 13 6.32% $16,853
    CROSSCOUNTRY MORTGAGE, LLC 8 6.34% $10,333
    HOMEBRIDGE FINANCIAL SERVICES, INC. 7 5.91% $14,477
    AMERICAN PACIFIC MORTGAGE CORPORATION 7 6.59% $15,365
    LOANDEPOT.COM, LLC 6 6.23% $11,233
    CORNERSTONE HOME LENDING, INC. 5 6.08% $15,016
    GUARANTEED RATE, INC. 4 6.12% $6,200
    The Federal Savings Bank 4 5.88% $22,649
    ACADEMY MORTGAGE CORPORATION 3 6.75% $14,649
    BROKER SOLUTIONS, INC. 3 5.79% $15,385
    DIRECTORS MORTGAGE, INC. 3 6.67% $14,668
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 3 7.25% $10,509
    MASON MCDUFFIE MORTGAGE CORPORATION 3 6.83% $13,179
    MOVEMENT MORTGAGE, LLC 3 6.29% $8,028
    NBKC BANK 3 5.79% $14,544
    Paramount Residential Mortgage Group, Inc. 3 6.29% $17,411
    PENNYMAC LOAN SERVICES, LLC 3 4.88% $10,519
    USAA Federal Savings Bank 3 6.04% $23,385
    U.S. Bank 2 5.94% $16,156
    PREMIER MORTGAGE RESOURCES, L.L.C. 2 6.81% $17,545
    Banner Bank 2 5.63% $16,520
    FREEDOM MORTGAGE CORPORATION 2 6.00% $15,624
    AMERISAVE MORTGAGE CORPORATION 2 5.69% $32,000
    AMERICAN FINANCIAL NETWORK, INC. 2 6.88% $8,081
    T2 FINANCIAL LLC 1 6.00% $13,355
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.00% $26,796
    MOUNTAIN WEST FINANCIAL, INC. 1 5.50% $14,625
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.75% $5,912
    Mr. Cooper ( Nationstar Mortgage ) 1 6.50% $16,680
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $37,232
    NEW DAY FINANCIAL, LLC 1 7.75% $20,105
    NFM, INC. 1 7.13% $3,932
    Wells Fargo Bank 1 4.88% $23,620
    PENTAGON FEDERAL CREDIT UNION 1 6.50% $3,004
    Plains Commerce Bank 1 7.13% $8,547
    PLANET HOME LENDING, LLC 1 2.25% $4,107
    PREMIA MORTGAGE, LLC 1 6.00% $6,649
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.75% $29,059
    AmeriHome Mortgage Company, LLC 1 6.63% $24,668
    DAS Acquisition Company, LLC 1 7.88% $2,582
    SUMMIT FUNDING, INC. 1 6.13% $23,175
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $11,679
    Flagstar Bank, FSB 1 6.25% $28,958
    Century Mortgage Company DBA Century Lending Company 1 5.99% $18,964
    Heritage Bank 1 5.50% $15,094
    CARDINAL FINANCIAL 1 5.75% $20,034
    CALIBER HOME LOANS, INC. 1 5.75% $15,750
    JPMorgan Chase Bank 1 6.88% $7,696
    LEADERONE FINANCIAL CORPORATION 1 7.00% $12,656
    Barrington Bank & Trust Company, N.A. 1 7.75% $7,144
    Magnolia Bank 1 6.99% $16,096

    The top Oak Harbor VA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 57 VA loans originated. Their average total fees are $15,307, which is $2,271 higher than the next largest lender, ENVOY MORTGAGE, LTD.

    The lowest fee Oak Harbor VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($8,726), Alaska USA Federal Credit Union ($11,396), NAVY FEDERAL CREDIT UNION ($11,478), UNITED WHOLESALE MORTGAGE, LLC ($11,713) and ENVOY MORTGAGE, LTD ($13,035).

    The lowest rate Oak Harbor VA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (5.70%), NAVY FEDERAL CREDIT UNION (5.76%), UNITED WHOLESALE MORTGAGE, LLC (6.10%), Alaska USA Federal Credit Union (6.19%) and CMG MORTGAGE, INC. (6.23%).

    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.