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 56 lenders originated 217 VA loans during 2023. The total origination value was $66,845,000, with an average VA loan value of $308,041.

    Reading VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Reading averaged 6.88% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Reading's average VA mortgage closing costs are $6,947.

    The average rate for the prior week (2025-02-07) was 6.71% and one month ago for the week of 2025-01-10, the average rate was 6.65%.

    The average rate one year ago was 6.37%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.93%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 38 6.72% $8,128
    UNITED WHOLESALE MORTGAGE, LLC 16 6.26% $11,744
    QUICKEN LOANS, LLC 14 6.03% $12,343
    Mortgage America, Inc. 12 6.25% $10,592
    FREEDOM MORTGAGE CORPORATION 10 6.70% $16,939
    CROSSCOUNTRY MORTGAGE, LLC 10 6.79% $10,798
    GUARANTEED RATE, INC. 7 6.48% $8,367
    USAA Federal Savings Bank 6 6.06% $9,625
    The Federal Savings Bank 6 6.52% $16,372
    NAVY FEDERAL CREDIT UNION 5 6.18% $2,651
    Northpointe Bank 5 6.53% $8,661
    LOANDEPOT.COM, LLC 5 7.05% $9,414
    PENNYMAC LOAN SERVICES, LLC 4 6.09% $12,925
    Univest Bank and Trust Co. 3 6.29% $7,099
    NEW DAY FINANCIAL, LLC 3 7.49% $11,199
    MOVEMENT MORTGAGE, LLC 2 6.00% $21,542
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.00% $16,254
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.88% $10,938
    BROKER SOLUTIONS, INC. 2 6.56% $10,482
    NEWREZ LLC 2 6.44% $9,139
    NFM, INC. 2 5.88% $19,861
    Fulton Bank 2 6.19% $10,985
    Citizens Bank 2 6.75% $8,412
    Barrington Bank & Trust Company, N.A. 2 6.00% $11,335
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.69% $11,871
    CONTOUR MORTGAGE CORPORATION 2 7.13% $13,862
    VILLAGE CAPITAL MORTGAGE 2 6.51% $9,603
    Meridian Bank Corporation 2 7.44% $15,354
    Mr. Cooper ( Nationstar Mortgage ) 2 5.69% $17,554
    York Traditions Bank 1 6.75% $4,707
    AmeriHome Mortgage Company, LLC 1 6.13% $12,927
    ARC HOME LLC 1 6.63% $11,864
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $16,704
    BNC National Bank 1 5.75% $7,713
    CMG MORTGAGE, INC. 1 6.75% $8,664
    Credence Funding Corporation 1 6.00% $3,756
    DHI MORTGAGE COMPANY, LTD. 1 6.00% $11,807
    DRAPER AND KRAMER MORTGAGE CORP. 1 5.63% $11,625
    EMBRACE HOME LOANS, INC. 1 6.75% $6,062
    First National Bank of Pennsylvania 1 7.13% $3,847
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.50% $23,854
    GSF Mortgage Corporation 1 7.25% $135
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $8,564
    Magnolia Bank 1 6.25% $17,909
    NATIONS DIRECT MORTGAGE, LLC 1 7.25% $8,273
    Nations Lending Corporation 1 6.75% $12,259
    NBKC BANK 1 5.38% $1,258
    Paramount Residential Mortgage Group, Inc. 1 7.63% $8,808
    Princeton Mortgage Corporation 1 6.75% $6,990
    Renasant Bank 1 6.25% $6,308
    Residential Mortgage Solutions, Inc. 1 7.75% $10,973
    SOUTHERN TRUST MORTGAGE, LLC 1 7.13% $8,101
    SUN WEST MORTGAGE COMPANY, INC. 1 6.13% $8,885
    UNION HOME MORTGAGE CORP. 1 6.13% $4,895
    Wells Fargo Bank 1 7.25% $9,629
    American Mortgage & Equity Consultants, Inc. 1 5.88% $5,794

    The top Reading VA lender as defined by loan originations is Mortgage Research Center, LLC, with 38 VA loans originated. Their average total fees are $8,128, which is $3,617 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Reading VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($8,128), Mortgage America, Inc. ($10,592), CROSSCOUNTRY MORTGAGE, LLC ($10,798), UNITED WHOLESALE MORTGAGE, LLC ($11,744) and QUICKEN LOANS, LLC ($12,343).

    The lowest rate Reading VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.03%), Mortgage America, Inc. (6.25%), UNITED WHOLESALE MORTGAGE, LLC (6.26%), FREEDOM MORTGAGE CORPORATION (6.70%) and Mortgage Research Center, LLC (6.72%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Reading (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 $171,945 (1.2%) $224,586 (3.4%) 0.64 1,241
    2018-02-01 $174,950 (0.7%) $224,243 (0.6%) 0.64 1,159
    2018-03-01 $179,900 (2.8%) $232,726 (4.0%) 0.63 1,103
    2018-04-01 $186,875 (1.1%) $237,457 (3.7%) 0.63 1,159
    2018-05-01 $199,900 (5.3%) $247,733 (6.8%) 0.67 1,191
    2018-06-01 $209,945 (10.8%) $256,616 (9.7%) 0.70 1,253
    2018-07-01 $209,050 (10.1%) $255,063 (7.8%) 0.70 1,253
    2018-08-01 $210,500 (13.8%) $255,859 (9.0%) 0.71 1,253
    2018-09-01 $209,900 (16.7%) $253,270 (9.3%) 0.71 1,255
    2018-10-01 $209,950 (17.4%) $255,392 (10.2%) 0.71 1,246
    2018-11-01 $209,900 (20.2%) $254,543 (12.6%) 0.71 1,239
    2018-12-01 $204,990 (17.2%) $251,406 (9.4%) 0.71 1,176
    2019-01-01 $199,948 (16.3%) $251,747 (12.1%) 0.69 1,071
    2019-02-01 $199,945 (14.3%) $256,610 (14.4%) 0.68 1,009
    2019-03-01 $208,471 (15.9%) $261,668 (12.4%) 0.68 997
    2019-04-01 $222,400 (19.0%) $268,807 (13.2%) 0.71 987
    2019-05-01 $222,400 (11.3%) $269,733 (8.9%) 0.70 1,006
    2019-06-01 $220,000 (4.8%) $268,946 (4.8%) 0.69 1,030
    2019-07-01 $219,900 (5.2%) $265,874 (4.2%) 0.69 1,095
    2019-08-01 $218,991 (4.0%) $269,232 (5.2%) 0.69 1,077
    2019-09-01 $225,127 (7.3%) $273,995 (8.2%) 0.72 1,043
    2019-10-01 $232,445 (10.7%) $278,665 (9.1%) 0.75 998
    2019-11-01 $235,000 (12.0%) $280,092 (10.0%) 0.77 953
    2019-12-01 $233,725 (14.0%) $281,449 (12.0%) 0.78 841
    2020-01-01 $229,950 (15.0%) $282,298 (12.1%) 0.77 770
    2020-02-01 $247,300 (23.7%) $287,164 (11.9%) 0.81 717
    2020-03-01 $259,900 (24.7%) $297,749 (13.8%) 0.81 675
    2020-04-01 $274,674 (23.5%) $313,591 (16.7%) 0.86 593
    2020-05-01 $259,900 (16.9%) $303,032 (12.4%) 0.79 619
    2020-06-01 $249,950 (13.6%) $306,374 (13.9%) 0.74 587
    2020-07-01 $272,650 (24.0%) $326,195 (22.7%) 0.79 486
    2020-08-01 $270,000 (23.3%) $322,004 (19.6%) 0.77 479
    2020-09-01 $259,975 (15.5%) $317,546 (15.9%) 0.74 477
    2020-10-01 $264,900 (14.0%) $325,747 (16.9%) 0.76 460
    2020-11-01 $267,400 (13.8%) $315,962 (12.8%) 0.78 465
    2020-12-01 $262,400 (12.3%) $311,155 (10.6%) 0.78 432
    2021-01-01 $259,000 (12.6%) $317,005 (12.3%) 0.77 367
    2021-02-01 $284,900 (15.2%) $346,614 (20.7%) 0.83 284
    2021-03-01 $288,450 (11.0%) $354,339 (19.0%) 0.82 274
    2021-04-01 $279,075 (1.6%) $341,853 (9.0%) 0.76 285
    2021-05-01 $274,900 (5.8%) $339,395 (12.0%) 0.73 313
    2021-06-01 $237,748 (-4.9%) $314,874 (2.8%) 0.63 407
    2021-07-01 $249,245 (-8.6%) $322,735 (-1.1%) 0.66 414
    2021-08-01 $246,495 (-8.7%) $315,304 (-2.1%) 0.66 448
    2021-09-01 $242,450 (-6.7%) $312,485 (-1.6%) 0.65 438
    2021-10-01 $245,990 (-7.1%) $320,052 (-1.8%) 0.66 438
    2021-11-01 $245,220 (-8.3%) $310,791 (-1.6%) 0.66 411
    2021-12-01 $232,500 (-11.4%) $296,653 (-4.7%) 0.64 352
    2022-01-01 $239,900 (-7.4%) $308,839 (-2.6%) 0.65 273
    2022-02-01 $239,450 (-16.0%) $313,873 (-9.5%) 0.62 261
    2022-03-01 $254,725 (-11.7%) $332,217 (-6.2%) 0.64 251
    2022-04-01 $259,950 (-6.9%) $336,724 (-1.5%) 0.61 270
    2022-05-01 $249,950 (-9.1%) $331,140 (-2.4%) 0.57 280
    2022-06-01 $255,000 (7.3%) $345,783 (9.8%) 0.57 341
    2022-07-01 $254,900 (2.3%) $341,887 (5.9%) 0.57 395
    2022-08-01 $264,975 (7.5%) $338,426 (7.3%) 0.61 414
    2022-09-01 $248,700 (2.6%) $329,147 (5.3%) 0.58 425
    2022-10-01 $250,000 (1.6%) $334,888 (4.6%) 0.59 423
    2022-11-01 $272,450 (11.1%) $344,724 (10.9%) 0.65 413
    2022-12-01 $279,900 (20.4%) $337,642 (13.8%) 0.68 359
    2023-01-01 $274,925 (14.6%) $347,775 (12.6%) 0.68 306
    2023-02-01 $287,400 (20.0%) $357,876 (14.0%) 0.69 280
    2023-03-01 $298,725 (17.3%) $382,152 (15.0%) 0.73 283
    2023-04-01 $317,450 (22.1%) $386,628 (14.8%) 0.74 297
    2023-05-01 $319,950 (28.0%) $398,014 (20.2%) 0.74 308
    2023-06-01 $339,741 (33.2%) $415,642 (20.2%) 0.76 322
    2023-07-01 $337,754 (32.5%) $423,547 (23.9%) 0.77 310
    2023-08-01 $332,950 (25.7%) $404,337 (19.5%) 0.76 326
    2023-09-01 $349,900 (40.7%) $407,398 (23.8%) 0.81 342
    2023-10-01 $348,197 (39.3%) $406,877 (21.5%) 0.82 367
    2023-11-01 $336,200 (23.4%) $395,412 (14.7%) 0.80 376
    2023-12-01 $316,750 (13.2%) $371,887 (10.1%) 0.77 360
    2024-01-01 $307,450 (11.8%) $369,204 (6.2%) 0.75 305
    2024-02-01 $306,200 (6.5%) $365,293 (2.1%) 0.74 280
    2024-03-01 $298,500 (-0.1%) $378,392 (-1.0%) 0.70 262
    2024-04-01 $325,000 (2.4%) $397,227 (2.7%) 0.76 278
    2024-05-01 $349,925 (9.4%) $419,082 (5.3%) 0.81 285
    2024-06-01 $349,450 (2.9%) $428,576 (3.1%) 0.81 300
    2024-07-01 $342,450 (1.4%) $414,621 (-2.1%) 0.78 359
    2024-08-01 $339,900 (2.1%) $414,093 (2.4%) 0.79 388
    2024-09-01 $344,900 (-1.4%) $417,700 (2.5%) 0.81 396
    2024-10-01 $347,450 (-0.2%) $399,825 (-1.7%) 0.82 420
    2024-11-01 $335,000 (-0.4%) $393,399 (-0.5%) 0.80 425
    2024-12-01 $329,950 (4.2%) $388,851 (4.6%) 0.82 382
    2025-01-01 $330,000 (7.3%) $388,060 (5.1%) 0.00 364
    Reading's median listing price for 2025-01-01 was $330,000, a difference of $22,550 (7.3%) versus the prior year and $50 versus the prior month.

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

    Reading's average listing price for 2025-01-01 was $388,060, a difference of $18,856 (5.1%) versus the prior year and $-791 versus the prior month.

    For the 2025-01-01 period, Reading had 364 MLS listings, a difference of -18 listings (-5%) versus the prior month and 59 listings (19%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Reading (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 92 days 1,742 sqft
    2018-02-01 90 days 1,767 sqft
    2018-03-01 65 days 1,791 sqft
    2018-04-01 52 days 1,812 sqft
    2018-05-01 52 days 1,862 sqft
    2018-06-01 53 days 1,917 sqft
    2018-07-01 58 days 1,884 sqft
    2018-08-01 60 days 1,887 sqft
    2018-09-01 64 days 1,900 sqft
    2018-10-01 67 days 1,899 sqft
    2018-11-01 67 days 1,881 sqft
    2018-12-01 73 days 1,856 sqft
    2019-01-01 85 days 1,856 sqft
    2019-02-01 87 days 1,881 sqft
    2019-03-01 69 days 1,938 sqft
    2019-04-01 47 days 1,998 sqft
    2019-05-01 39 days 1,985 sqft
    2019-06-01 40 days 1,952 sqft
    2019-07-01 44 days 1,947 sqft
    2019-08-01 48 days 1,960 sqft
    2019-09-01 53 days 1,992 sqft
    2019-10-01 58 days 2,023 sqft
    2019-11-01 57 days 2,036 sqft
    2019-12-01 70 days 2,010 sqft
    2020-01-01 77 days 2,025 sqft
    2020-02-01 66 days 2,048 sqft
    2020-03-01 44 days 2,080 sqft
    2020-04-01 65 days 2,134 sqft
    2020-05-01 74 days 2,034 sqft
    2020-06-01 40 days 2,047 sqft
    2020-07-01 34 days 2,109 sqft
    2020-08-01 28 days 2,144 sqft
    2020-09-01 25 days 2,030 sqft
    2020-10-01 41 days 2,052 sqft
    2020-11-01 42 days 2,010 sqft
    2020-12-01 47 days 1,963 sqft
    2021-01-01 57 days 1,934 sqft
    2021-02-01 62 days 2,100 sqft
    2021-03-01 45 days 1,986 sqft
    2021-04-01 30 days 1,949 sqft
    2021-05-01 25 days 1,889 sqft
    2021-06-01 31 days 1,810 sqft
    2021-07-01 38 days 1,831 sqft
    2021-08-01 39 days 1,810 sqft
    2021-09-01 39 days 1,784 sqft
    2021-10-01 44 days 1,792 sqft
    2021-11-01 46 days 1,784 sqft
    2021-12-01 48 days 1,754 sqft
    2022-01-01 50 days 1,692 sqft
    2022-02-01 42 days 1,739 sqft
    2022-03-01 29 days 1,765 sqft
    2022-04-01 29 days 1,805 sqft
    2022-05-01 24 days 1,768 sqft
    2022-06-01 24 days 1,776 sqft
    2022-07-01 30 days 1,780 sqft
    2022-08-01 32 days 1,794 sqft
    2022-09-01 41 days 1,774 sqft
    2022-10-01 40 days 1,790 sqft
    2022-11-01 42 days 1,853 sqft
    2022-12-01 57 days 1,841 sqft
    2023-01-01 65 days 1,824 sqft
    2023-02-01 51 days 1,905 sqft
    2023-03-01 38 days 1,979 sqft
    2023-04-01 33 days 1,960 sqft
    2023-05-01 33 days 1,982 sqft
    2023-06-01 37 days 1,970 sqft
    2023-07-01 39 days 1,979 sqft
    2023-08-01 35 days 1,930 sqft
    2023-09-01 40 days 1,969 sqft
    2023-10-01 38 days 1,981 sqft
    2023-11-01 38 days 1,880 sqft
    2023-12-01 45 days 1,848 sqft
    2024-01-01 52 days 1,822 sqft
    2024-02-01 38 days 1,807 sqft
    2024-03-01 36 days 1,702 sqft
    2024-04-01 29 days 1,821 sqft
    2024-05-01 23 days 1,934 sqft
    2024-06-01 22 days 1,986 sqft
    2024-07-01 29 days 1,957 sqft
    2024-08-01 34 days 1,966 sqft
    2024-09-01 35 days 1,950 sqft
    2024-10-01 34 days 1,959 sqft
    2024-11-01 38 days 1,885 sqft
    2024-12-01 43 days 1,881 sqft
    2025-01-01 0 days 1,893 sqft
    Reading's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Reading's median square footage for active listings during the 2025-01-01 period was 1,893 sqft. One year prior, the average listing was 1,822 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.