Portsmouth VA Loan Rates, Closing Costs & Stats

Portsmouth, OH

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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.

    Portsmouth's 25 lenders originated 52 VA loans during 2023. The total origination value was $10,900,000, with an average VA loan value of $209,615.

    Portsmouth VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Portsmouth averaged 7.17% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Portsmouth's average VA mortgage closing costs are $4,540.

    The average rate for the prior week (2024-04-12) was 6.91% and one month ago for the week of 2024-03-15, the average rate was 6.97%.

    The average rate one year ago was 6.36%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Portsmouth 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 Portsmouth level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 15 6.81% $3,763
    U.S. Bank 4 6.75% $5,530
    NAVY FEDERAL CREDIT UNION 3 5.58% $4,487
    USAA Federal Savings Bank 2 6.00% $24,342
    MOVEMENT MORTGAGE, LLC 2 7.75% $6,472
    QUICKEN LOANS, LLC 2 5.99% $16,016
    DESCO 2 6.63% $7,123
    POLARIS HOME FUNDING CORP. 2 7.25% $6,677
    LOANDEPOT.COM, LLC 1 7.13% $8,140
    NEW DAY FINANCIAL, LLC 1 8.25% $8,532
    PENNYMAC LOAN SERVICES, LLC 1 4.75% $5,662
    RAPID MORTGAGE COMPANY 1 7.25% $15,967
    ROYAL UNITED MORTGAGE LLC 1 6.25% $24,703
    RUOFF MORTGAGE COMPANY, INC. 1 7.25% $6,082
    Strong Home Mortgage, LLC 1 5.25% $8,769
    UNION HOME MORTGAGE CORP. 1 6.50% $15,663
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.75% $9,682
    VILLAGE CAPITAL MORTGAGE 1 4.75% $8,594
    Barrington Bank & Trust Company, N.A. 1 5.75% $10,311
    Citizens Bank 1 6.63% $1,994
    CMG MORTGAGE, INC. 1 6.75% $7,733
    CROSSCOUNTRY MORTGAGE, LLC 1 5.75% $6,550
    DAS Acquisition Company, LLC 1 6.38% $413
    EQUITY RESOURCES, INC. 1 6.99% $5,035
    GUARANTEED RATE, INC. 1 7.25% $0

    The top Portsmouth VA lender as defined by loan originations is Mortgage Research Center, LLC, with 15 VA loans originated. Their average total fees are $3,763, which is $1,767 lower than the next largest lender, U.S. Bank.

    The lowest fee Portsmouth VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,763), .

    The lowest rate Portsmouth VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.81%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Portsmouth (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 $103,200 (-2.6%) $142,122 (8.8%) 0.00 313
    2018-02-01 $99,900 (-6.4%) $139,313 (6.7%) 0.00 324
    2018-03-01 $109,950 (1.9%) $147,310 (14.2%) 0.00 312
    2018-04-01 $113,500 (3.3%) $152,395 (18.1%) 0.00 307
    2018-05-01 $119,800 (0.5%) $153,281 (13.0%) 0.00 324
    2018-06-01 $119,250 (-0.4%) $151,519 (5.8%) 0.00 328
    2018-07-01 $119,825 (-2.6%) $150,583 (2.8%) 0.00 336
    2018-08-01 $118,625 (-2.4%) $146,762 (-0.6%) 0.00 348
    2018-09-01 $111,000 (-3.5%) $145,287 (0.5%) 0.00 334
    2018-10-01 $108,000 (-4.8%) $145,048 (0.4%) 0.00 332
    2018-11-01 $105,000 (-2.8%) $143,195 (2.8%) 0.00 332
    2018-12-01 $103,800 (3.9%) $145,044 (4.6%) 0.00 315
    2019-01-01 $102,150 (-1.0%) $143,450 (0.9%) 0.00 304
    2019-02-01 $113,100 (13.2%) $151,314 (8.6%) 0.00 300
    2019-03-01 $114,236 (3.9%) $152,636 (3.6%) 0.00 292
    2019-04-01 $118,925 (4.8%) $153,045 (0.4%) 0.00 284
    2019-05-01 $125,000 (4.3%) $152,539 (-0.5%) 0.00 284
    2019-06-01 $124,900 (4.7%) $152,694 (0.8%) 0.00 281
    2019-07-01 $121,900 (1.7%) $153,076 (1.7%) 0.00 289
    2019-08-01 $122,382 (3.2%) $156,868 (6.9%) 0.00 290
    2019-09-01 $126,105 (13.6%) $160,113 (10.2%) 0.00 279
    2019-10-01 $129,000 (19.4%) $162,057 (11.7%) 0.00 274
    2019-11-01 $119,000 (13.3%) $150,804 (5.3%) 0.00 255
    2019-12-01 $109,450 (5.4%) $145,086 (0.0%) 0.00 252
    2020-01-01 $112,475 (10.1%) $140,536 (-2.0%) 0.00 244
    2020-02-01 $110,450 (-2.3%) $139,352 (-7.9%) 0.00 255
    2020-03-01 $116,000 (1.5%) $141,873 (-7.1%) 0.00 232
    2020-04-01 $119,375 (0.4%) $152,465 (-0.4%) 0.00 225
    2020-05-01 $119,950 (-4.0%) $161,072 (5.6%) 0.00 194
    2020-06-01 $125,000 (0.1%) $165,042 (8.1%) 0.00 176
    2020-07-01 $139,450 (14.4%) $179,038 (17.0%) 0.00 166
    2020-08-01 $139,000 (13.6%) $181,715 (15.8%) 0.00 150
    2020-09-01 $142,450 (13.0%) $182,328 (13.9%) 0.00 144
    2020-10-01 $136,500 (5.8%) $184,049 (13.6%) 0.00 133
    2020-11-01 $135,000 (13.5%) $189,434 (25.6%) 0.00 119
    2020-12-01 $127,450 (16.5%) $190,995 (31.6%) 0.00 105
    2021-01-01 $129,500 (15.1%) $199,192 (41.7%) 0.00 97
    2021-02-01 $138,675 (25.6%) $211,758 (52.0%) 0.00 86
    2021-03-01 $143,700 (23.9%) $199,019 (40.3%) 0.00 82
    2021-04-01 $152,450 (27.7%) $193,119 (26.7%) 0.00 69
    2021-05-01 $147,450 (22.9%) $169,637 (5.3%) 0.00 71
    2021-06-01 $122,425 (-2.1%) $164,017 (-0.6%) 0.00 65
    2021-07-01 $147,500 (5.8%) $173,462 (-3.1%) 0.00 85
    2021-08-01 $140,475 (1.1%) $169,762 (-6.6%) 0.00 92
    2021-09-01 $144,725 (1.6%) $180,864 (-0.8%) 0.00 82
    2021-10-01 $164,900 (20.8%) $194,615 (5.7%) 0.00 76
    2021-11-01 $161,175 (19.4%) $199,613 (5.4%) 0.00 70
    2021-12-01 $159,700 (25.3%) $191,224 (0.1%) 0.00 71
    2022-01-01 $160,000 (23.6%) $198,326 (-0.4%) 0.00 59
    2022-02-01 $145,725 (5.1%) $212,863 (0.5%) 0.00 51
    2022-03-01 $140,200 (-2.4%) $216,443 (8.8%) 0.00 58
    2022-04-01 $160,000 (5.0%) $262,824 (36.1%) 0.00 59
    2022-05-01 $171,550 (16.3%) $231,026 (36.2%) 0.00 68
    2022-06-01 $159,975 (30.7%) $213,566 (30.2%) 0.00 95
    2022-07-01 $164,700 (11.7%) $210,669 (21.5%) 0.00 107
    2022-08-01 $155,350 (10.6%) $214,569 (26.4%) 0.00 101
    2022-09-01 $156,650 (8.2%) $206,708 (14.3%) 0.00 104
    2022-10-01 $151,950 (-7.9%) $202,613 (4.1%) 0.00 89
    2022-11-01 $148,600 (-7.8%) $181,952 (-8.9%) 0.00 84
    2022-12-01 $132,400 (-17.1%) $178,413 (-6.7%) 0.00 80
    2023-01-01 $129,925 (-18.8%) $182,547 (-8.0%) 0.00 87
    2023-02-01 $129,900 (-10.9%) $179,508 (-15.7%) 0.00 90
    2023-03-01 $129,900 (-7.4%) $172,178 (-20.5%) 0.00 94
    2023-04-01 $129,500 (-19.1%) $178,680 (-32.0%) 0.00 83
    2023-05-01 $148,075 (-13.7%) $192,947 (-16.5%) 0.00 71
    2023-06-01 $155,925 (-2.5%) $214,140 (0.3%) 0.00 72
    2023-07-01 $169,950 (3.2%) $201,938 (-4.1%) 0.00 80
    2023-08-01 $163,700 (5.4%) $188,814 (-12.0%) 0.00 91
    2023-09-01 $154,500 (-1.4%) $200,851 (-2.8%) 0.00 95
    2023-10-01 $169,700 (11.7%) $213,726 (5.5%) 0.00 111
    2023-11-01 $179,900 (21.1%) $239,057 (31.4%) 0.00 116
    2023-12-01 $189,000 (42.8%) $249,516 (39.9%) 0.00 109
    2024-01-01 $179,950 (38.5%) $253,178 (38.7%) 0.00 103
    2024-02-01 $177,225 (36.4%) $247,663 (38.0%) 0.00 98
    2024-03-01 $184,900 (42.3%) $251,526 (46.1%) 0.00 92
    Portsmouth's median listing price for 2024-03-01 was $184,900, a difference of $55,000 (42.3%) versus the prior year and $7,675 versus the prior month.

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

    Portsmouth's average listing price for 2024-03-01 was $251,526, a difference of $79,348 (46.1%) versus the prior year and $3,863 versus the prior month.

    For the 2024-03-01 period, Portsmouth had 92 MLS listings, a difference of -6 listings (-6%) versus the prior month and -2 listings (-2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Portsmouth (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,493 sqft
    2018-02-01 0 days 1,476 sqft
    2018-03-01 0 days 1,481 sqft
    2018-04-01 0 days 1,484 sqft
    2018-05-01 0 days 1,490 sqft
    2018-06-01 0 days 1,531 sqft
    2018-07-01 0 days 1,552 sqft
    2018-08-01 0 days 1,537 sqft
    2018-09-01 0 days 1,526 sqft
    2018-10-01 0 days 1,512 sqft
    2018-11-01 0 days 1,531 sqft
    2018-12-01 0 days 1,560 sqft
    2019-01-01 0 days 1,560 sqft
    2019-02-01 0 days 1,584 sqft
    2019-03-01 0 days 1,598 sqft
    2019-04-01 0 days 1,614 sqft
    2019-05-01 0 days 1,586 sqft
    2019-06-01 0 days 1,584 sqft
    2019-07-01 0 days 1,594 sqft
    2019-08-01 0 days 1,617 sqft
    2019-09-01 0 days 1,644 sqft
    2019-10-01 0 days 1,661 sqft
    2019-11-01 0 days 1,657 sqft
    2019-12-01 0 days 1,621 sqft
    2020-01-01 0 days 1,621 sqft
    2020-02-01 0 days 1,608 sqft
    2020-03-01 0 days 1,582 sqft
    2020-04-01 0 days 1,602 sqft
    2020-05-01 0 days 1,545 sqft
    2020-06-01 0 days 1,529 sqft
    2020-07-01 0 days 1,594 sqft
    2020-08-01 0 days 1,566 sqft
    2020-09-01 0 days 1,453 sqft
    2020-10-01 0 days 1,550 sqft
    2020-11-01 0 days 1,585 sqft
    2020-12-01 0 days 1,447 sqft
    2021-01-01 0 days 1,456 sqft
    2021-02-01 0 days 1,610 sqft
    2021-03-01 0 days 1,585 sqft
    2021-04-01 0 days 1,583 sqft
    2021-05-01 0 days 1,539 sqft
    2021-06-01 0 days 1,439 sqft
    2021-07-01 0 days 1,546 sqft
    2021-08-01 0 days 1,539 sqft
    2021-09-01 0 days 1,588 sqft
    2021-10-01 0 days 1,579 sqft
    2021-11-01 0 days 1,543 sqft
    2021-12-01 0 days 1,537 sqft
    2022-01-01 0 days 1,480 sqft
    2022-02-01 0 days 1,420 sqft
    2022-03-01 0 days 1,406 sqft
    2022-04-01 0 days 1,504 sqft
    2022-05-01 0 days 1,446 sqft
    2022-06-01 0 days 1,449 sqft
    2022-07-01 0 days 1,466 sqft
    2022-08-01 0 days 1,505 sqft
    2022-09-01 0 days 1,498 sqft
    2022-10-01 0 days 1,521 sqft
    2022-11-01 0 days 1,440 sqft
    2022-12-01 0 days 1,387 sqft
    2023-01-01 0 days 1,404 sqft
    2023-02-01 0 days 1,404 sqft
    2023-03-01 0 days 1,397 sqft
    2023-04-01 0 days 1,440 sqft
    2023-05-01 0 days 1,352 sqft
    2023-06-01 0 days 1,440 sqft
    2023-07-01 0 days 1,402 sqft
    2023-08-01 0 days 1,440 sqft
    2023-09-01 0 days 1,485 sqft
    2023-10-01 0 days 1,481 sqft
    2023-11-01 0 days 1,479 sqft
    2023-12-01 0 days 1,568 sqft
    2024-01-01 0 days 1,563 sqft
    2024-02-01 0 days 1,532 sqft
    2024-03-01 0 days 1,541 sqft
    Portsmouth's median listing age (time on market) for 2024-03-01 was 0 days.

    Portsmouth's median square footage for active listings during the 2024-03-01 period was 1,541 sqft. One year prior, the average listing was 1,397 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.