Portsmouth VA Loan Rates, Closing Costs & Stats

Portsmouth, OH

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 0.12% for the week of 2024-11-29, compared to the national average (all VA variants) of 0% for the same period.

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

The average rate for the prior week (2024-11-22) was 6.68% and one month ago for the week of 2024-10-25, the average rate was 6.48%.

The average rate one year ago was 7.22%.

For refis of the same type during the week of 2024-11-29, the average rate was 0.1%.

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
2024-04-01 $184,500 (42.5%) $253,998 (42.2%) 0.00 89
2024-05-01 $177,450 (19.8%) $234,921 (21.8%) 0.00 94
2024-06-01 $175,000 (12.2%) $242,421 (13.2%) 0.00 98
2024-07-01 $179,950 (5.9%) $246,964 (22.3%) 0.00 105
2024-08-01 $195,900 (19.7%) $245,347 (29.9%) 0.00 112
2024-09-01 $187,925 (21.6%) $240,610 (19.8%) 0.00 131
2024-10-01 $186,975 (10.2%) $229,726 (7.5%) 0.00 129
Portsmouth's median listing price for 2024-10-01 was $186,975, a difference of $17,275 (10.2%) versus the prior year and $-950 versus the prior month.

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

Portsmouth's average listing price for 2024-10-01 was $229,726, a difference of $16,000 (7.5%) versus the prior year and $-10,884 versus the prior month.

For the 2024-10-01 period, Portsmouth had 129 MLS listings, a difference of -2 listings (-2%) versus the prior month and 18 listings (16%) 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 1,535 sqft
2024-03-01 0 days 1,551 sqft
2024-04-01 0 days 1,559 sqft
2024-05-01 0 days 1,529 sqft
2024-06-01 0 days 1,516 sqft
2024-07-01 0 days 1,563 sqft
2024-08-01 0 days 1,583 sqft
2024-09-01 0 days 1,571 sqft
2024-10-01 0 days 1,518 sqft
Portsmouth's median listing age (time on market) for 2024-10-01 was 0 days.

Portsmouth's median square footage for active listings during the 2024-10-01 period was 1,518 sqft. One year prior, the average listing was 1,481 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.