Reading VA Loan Rates, Closing Costs & Stats

READING, PA

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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.

    Reading's 76 lenders originated 327 VA loans during 2024. The total origination value was $112,095,000, with an average VA loan value of $342,798.

    Reading VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Reading averaged 0.37% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Reading's average VA mortgage closing costs are $7,254.

    The average rate for the prior week (2025-06-13) was 6.71% and one month ago for the week of 2025-05-16, the average rate was 6.87%.

    The average rate one year ago was 6.97%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.35%.

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

    Reading 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 Reading level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 49 6.37% $8,110
    UNITED WHOLESALE MORTGAGE, LLC 35 5.79% $8,037
    FREEDOM MORTGAGE CORPORATION 25 6.17% $8,523
    QUICKEN LOANS, LLC 15 6.08% $11,838
    PENNYMAC LOAN SERVICES, LLC 15 5.80% $8,114
    NEW DAY FINANCIAL, LLC 14 7.59% $15,282
    NEWREZ LLC 10 6.36% $10,738
    NAVY FEDERAL CREDIT UNION 10 5.64% $7,312
    USAA Federal Savings Bank 7 6.09% $8,558
    Mortgage America, Inc. 7 5.93% $12,394
    CMG MORTGAGE, INC. 7 6.28% $13,826
    BROKER SOLUTIONS, INC. 6 6.60% $15,515
    CROSSCOUNTRY MORTGAGE, LLC 6 6.40% $9,130
    Univest Bank and Trust Co. 5 5.85% $6,992
    LOANDEPOT.COM, LLC 5 6.37% $10,481
    MOVEMENT MORTGAGE, LLC 4 6.34% $15,855
    GUARANTEED RATE, INC. 3 6.03% $12,240
    Magnolia Bank 3 6.13% $15,934
    PLAZA HOME MORTGAGE, INC. 3 6.46% $22,031
    VILLAGE CAPITAL MORTGAGE 2 5.50% $4,787
    PLANET HOME LENDING, LLC 2 5.99% $5,605
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.63% $18,869
    GUILD MORTGAGE COMPANY 2 6.44% $10,796
    EMM LOANS LLC 2 6.75% $13,022
    Homesale Mortgage, LLC 2 6.88% $7,180
    Paramount Residential Mortgage Group, Inc. 2 6.69% $16,189
    Credence Funding Corporation 2 6.06% $4,320
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.25% $14,793
    Keystone Funding, Inc. 2 6.00% $8,678
    The Federal Savings Bank 2 5.94% $21,533
    Truist 2 6.48% $5,042
    UNION HOME MORTGAGE CORP. 2 6.63% $8,977
    NFM, INC. 2 6.81% $24,766
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.38% $13,210
    Flagstar Bank, FSB 2 6.50% $10,098
    FIRST COLONY MORTGAGE CORPORATION 2 6.19% $9,621
    PENTAGON FEDERAL CREDIT UNION 2 6.31% $8,552
    DHI MORTGAGE COMPANY, LTD. 2 5.68% $13,123
    ZILLOW HOME LOANS, LLC 1 5.63% $19,247
    Alcova Mortgage LLC 1 6.88% $7,948
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.25% $17,074
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.25% $6,844
    AmeriHome Mortgage Company, LLC 1 6.13% $4,165
    Ameris Bank 1 5.63% $4,080
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $3,154
    Armed Forces Bank 1 5.50% $6,036
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.13% $14,516
    CALCON MUTUAL MORTGAGE LLC 1 5.50% $5,154
    CARDINAL FINANCIAL 1 6.75% $13,186
    Carrington Mortgage Services, LLC 1 6.00% $3,602
    CLEARPATH LENDING 1 5.75% $15,256
    CONTOUR MORTGAGE CORPORATION 1 6.13% $6,315
    Equity Prime Mortgage LLC 1 5.50% $12,052
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.75% $6,771
    First Citizens Community Bank 1 6.63% $9,297
    Fulton Bank 1 7.63% $7,783
    GoPrime Mortgage, Inc. 1 6.63% $6,101
    GUARANTEED RATE AFFINITY, LLC 1 6.13% $5,463
    HomePromise Corporation 1 7.75% $9,151
    KeyBank 1 6.25% $3,683
    LAKEVIEW LOAN SERVICING, LLC 1 5.13% $7,518
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.25% $36,357
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $3,628
    M&T Bank 1 7.00% $9,114
    NATIONS DIRECT MORTGAGE, LLC 1 6.75% $4,117
    OceanFirst Bank 1 5.63% $8,255
    Orrstown Bank 1 6.25% $5,966
    PHH Mortgage Corporation 1 6.63% $18,017
    Plains Commerce Bank 1 6.25% $11,829
    PNC Bank 1 6.63% $4,826
    Princeton Mortgage Corporation 1 5.25% $7,122
    Prosperity Home Mortgage, LLC 1 6.63% $7,185
    RELIANCE FIRST CAPITAL, LLC 1 6.13% $17,997
    SUN WEST MORTGAGE COMPANY, INC. 1 6.38% $9,183
    UNITED MORTGAGE CORP 1 7.25% $7,874
    Acre Mortgage and Financial Inc 1 6.63% $10,287

    The top Reading VA lender as defined by loan originations is Mortgage Research Center, LLC, with 49 VA loans originated. Their average total fees are $8,110, which is $74 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Reading VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($7,312), UNITED WHOLESALE MORTGAGE, LLC ($8,037), Mortgage Research Center, LLC ($8,110), PENNYMAC LOAN SERVICES, LLC ($8,114) and FREEDOM MORTGAGE CORPORATION ($8,523).

    The lowest rate Reading VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.64%), UNITED WHOLESALE MORTGAGE, LLC (5.79%), PENNYMAC LOAN SERVICES, LLC (5.80%), QUICKEN LOANS, LLC (6.08%) and FREEDOM MORTGAGE CORPORATION (6.17%).

    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.