Reno VA Loan Rates, Closing Costs & Stats

RENO, NV

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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.

    Reno's 106 lenders originated 907 VA loans during 2022. The total origination value was $429,495,000, with an average VA loan value of $473,534.

    Reno VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Reno averaged 6.29% for the week of 2023-09-22, compared to the national average (all VA variants) of 6.823% for the same period.

    Reno's average VA mortgage closing costs are $7,633.

    The average rate for the prior week (2023-09-15) was 6.27% and one month ago for the week of 2023-08-18, the average rate was 6.55%.

    The average rate one year ago was 5.62%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.25%.

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

    Reno 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 Reno level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 94 4.40% $15,478
    Mortgage Research Center, LLC 71 4.92% $12,167
    QUICKEN LOANS, LLC 67 3.89% $13,904
    FREEDOM MORTGAGE CORPORATION 44 4.14% $15,490
    PENNYMAC LOAN SERVICES, LLC 40 3.14% $12,757
    UNITED WHOLESALE MORTGAGE, LLC 39 4.05% $11,792
    NAVY FEDERAL CREDIT UNION 33 3.48% $10,754
    LOANDEPOT.COM, LLC 30 3.62% $14,746
    DHI MORTGAGE COMPANY, LTD. 26 3.98% $8,626
    CROSSCOUNTRY MORTGAGE, LLC 23 4.76% $16,449
    PRIMELENDING, A PLAINSCAPITAL COMPANY 16 4.16% $14,757
    TBI MORTGAGE COMPANY 16 4.33% $12,396
    SUMMIT FUNDING, INC. 16 5.11% $12,188
    CALIBER HOME LOANS, INC. 16 4.18% $12,469
    NEW DAY FINANCIAL, LLC 15 4.69% $20,754
    USAA Federal Savings Bank 13 4.65% $16,557
    CLEARPATH LENDING 13 3.58% $13,630
    The Federal Savings Bank 13 3.60% $20,894
    EAGLE HOME MORTGAGE, LLC 13 4.24% $13,509
    BAY EQUITY LLC 12 4.42% $15,162
    BROKER SOLUTIONS, INC. 11 4.53% $8,512
    Hometown Lenders, Inc. 10 4.33% $9,390
    AMERISAVE MORTGAGE CORPORATION 10 3.66% $13,218
    Northpointe Bank 10 4.61% $11,131
    PENTAGON FEDERAL CREDIT UNION 8 2.95% $7,375
    MOVEMENT MORTGAGE, LLC 8 4.89% $13,019
    AXIA FINANCIAL, LLC 8 5.09% $10,213
    NEWREZ LLC 8 3.73% $11,184
    HOME POINT FINANCIAL CORPORATION 8 3.50% $12,346
    MUTUAL OF OMAHA MORTGAGE, INC. 7 4.55% $19,551
    Mr. Cooper ( Nationstar Mortgage ) 6 4.33% $12,049
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 5.04% $14,492
    MANN FINANCIAL INC. 6 5.25% $12,639
    Equity Prime Mortgage LLC 6 5.52% $11,153
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 4.90% $13,784
    Low VA Rates, LLC 5 4.33% $24,198
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 5.13% $15,551
    GUARANTEED RATE, INC. 5 5.38% $7,645
    BNC National Bank 4 3.88% $6,156
    Sunflower Bank 4 3.56% $14,071
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 4.34% $13,875
    Umpqua Bank 4 4.56% $12,365
    Carrington Mortgage Services, LLC 4 5.19% $13,373
    LOANPAL, LLC 3 3.71% $18,125
    CALCON MUTUAL MORTGAGE LLC 3 4.46% $18,734
    CARDINAL FINANCIAL 3 4.71% $10,538
    Flagstar Bank, FSB 3 3.08% $7,739
    Gateway First Bank 3 5.21% $15,258
    LADERA LENDING, INC. 3 3.67% $15,418
    LAKEVIEW LOAN SERVICING, LLC 3 2.58% $3,747
    Magnolia Bank 3 5.00% $17,113
    MASON MCDUFFIE MORTGAGE CORPORATION 3 3.96% $15,747
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 5.63% $12,682
    ONE NEVADA CREDIT UNION 3 3.38% $4,863
    PREMIA MORTGAGE, LLC 3 4.00% $4,801
    Wells Fargo Bank 3 3.08% $2,762
    SOVEREIGN LENDING GROUP INCORPORATED 2 2.75% $6,132
    North American Savings Bank, F.S.B. 2 4.19% $13,232
    Barrington Bank & Trust Company, N.A. 2 4.50% $6,516
    SUN WEST MORTGAGE COMPANY, INC. 2 4.75% $12,006
    SYNERGY HOME MORTGAGE, LLC 2 4.69% $5,744
    CMG MORTGAGE, INC. 2 4.31% $15,396
    PLANET HOME LENDING, LLC 2 4.06% $7,643
    VILLAGE CAPITAL MORTGAGE 2 3.81% $14,949
    NBKC BANK 2 3.69% $14,677
    Amerifirst Financial, Inc. 2 4.44% $7,257
    JPMorgan Chase Bank 2 5.31% $11,917
    PREMIER MORTGAGE RESOURCES, L.L.C. 2 3.50% $14,392
    AMERICAN FINANCING CORPORATION 2 3.25% $2,614
    FINANCE OF AMERICA MORTGAGE LLC 2 5.63% $26,138
    ON Q FINANCIAL, INC. 2 4.31% $15,376
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 2 6.50% $14,834
    NFM, INC. 2 5.63% $14,293
    U.S. Bank 2 5.13% $4,481
    CHERRY CREEK MORTGAGE, LLC 1 4.13% $32,052
    Capital Bank 1 2.37% $4,811
    Sierra Pacific Mortgage Company, Inc. 1 2.88% $15,228
    SIRVA MORTGAGE, INC. 1 3.75% $22,906
    BELEM SERVICING LLC 1 1.75% $22,644
    Armed Forces Bank 1 4.75% $27,019
    Texana Bank 1 5.63% $23,771
    The Central Trust Bank 1 5.38% $16,992
    AmRes Corporation 1 3.13% $1,640
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 2.88% $6,592
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.38% $8,337
    INFINITY EQUITY GROUP, INC. 1 5.75% $21,502
    AMERICA FIRST 1 6.38% $13,816
    IMPAC MORTGAGE CORP. 1 3.25% $3,488
    KELLER MORTGAGE, LLC 1 3.50% $3,393
    VERITAS FUNDING, LLC 1 5.25% $20,838
    GUARANTEED RATE AFFINITY, LLC 1 4.75% $10,865
    GREATER NEVADA LLC 1 3.25% $3,625
    Franklin Loan Corporation 1 5.50% $23,636
    M&T Bank 1 2.63% $4,311
    First National Bank 1 5.63% $12,559
    Nations Lending Corporation 1 6.00% $19,957
    First Guaranty Mortgage Corporation 1 3.63% $7,825
    NBH Bank 1 3.75% $6,117
    EVERETT FINANCIAL, INC. 1 3.38% $1,494
    NP, Inc. 1 2.25% $7,051
    Watermark Capital, Inc. 1 5.63% $6,616
    PANORAMA MORTGAGE GROUP, LLC 1 6.13% $18,660
    Paramount Residential Mortgage Group, Inc. 1 4.63% $67,333
    Commerce Home Mortgage, Inc. 1 4.00% $18,881
    PLAZA HOME MORTGAGE, INC. 1 2.99% $21,990
    ZILLOW HOME LOANS, LLC 1 4.38% $21,785

    The top Reno VA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 94 VA loans originated. Their average total fees are $15,478, which is $3,311 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Reno VA lenders (with over 10 loans originated) are BROKER SOLUTIONS, INC. ($8,512), DHI MORTGAGE COMPANY, LTD. ($8,626), Hometown Lenders, Inc. ($9,390), NAVY FEDERAL CREDIT UNION ($10,754) and Northpointe Bank ($11,131).

    The lowest rate Reno VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.14%), NAVY FEDERAL CREDIT UNION (3.48%), CLEARPATH LENDING (3.58%), The Federal Savings Bank (3.60%) and LOANDEPOT.COM, LLC (3.62%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Reno (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 $487,175 (13.2%) $1,196,170 (36.7%) 1.81 804
    2018-02-01 $490,009 (12.0%) $1,196,764 (32.2%) 1.78 774
    2018-03-01 $498,248 (15.1%) $1,140,870 (29.5%) 1.75 781
    2018-04-01 $516,782 (18.8%) $1,134,098 (29.8%) 1.75 859
    2018-05-01 $487,000 (8.9%) $1,057,689 (20.9%) 1.63 974
    2018-06-01 $480,000 (6.3%) $1,024,597 (17.1%) 1.60 1,087
    2018-07-01 $469,000 (-0.2%) $967,089 (-0.9%) 1.57 1,388
    2018-08-01 $450,000 (-1.9%) $924,927 (-2.7%) 1.51 1,588
    2018-09-01 $449,000 (-6.3%) $891,702 (-9.0%) 1.51 1,715
    2018-10-01 $429,450 (-8.5%) $856,172 (-13.5%) 1.45 1,805
    2018-11-01 $426,450 (-12.5%) $858,402 (-17.1%) 1.45 1,744
    2018-12-01 $424,000 (-13.5%) $861,306 (-20.1%) 1.46 1,639
    2019-01-01 $427,450 (-12.3%) $911,122 (-23.8%) 1.48 1,429
    2019-02-01 $433,633 (-11.5%) $953,502 (-20.3%) 1.47 1,312
    2019-03-01 $450,657 (-9.6%) $970,631 (-14.9%) 1.47 1,259
    2019-04-01 $460,706 (-10.9%) $968,672 (-14.6%) 1.46 1,260
    2019-05-01 $456,175 (-6.3%) $921,588 (-12.9%) 1.43 1,460
    2019-06-01 $472,000 (-1.7%) $911,295 (-11.1%) 1.48 1,628
    2019-07-01 $472,995 (0.9%) $912,555 (-5.6%) 1.48 1,787
    2019-08-01 $467,909 (4.0%) $920,805 (-0.5%) 1.48 1,803
    2019-09-01 $466,273 (3.9%) $936,520 (5.0%) 1.49 1,741
    2019-10-01 $465,000 (8.3%) $960,844 (12.2%) 1.50 1,673
    2019-11-01 $465,000 (9.0%) $1,009,062 (17.6%) 1.52 1,482
    2019-12-01 $472,450 (11.4%) $1,078,793 (25.3%) 1.58 1,231
    2020-01-01 $482,500 (12.9%) $1,143,452 (25.5%) 1.61 1,053
    2020-02-01 $519,998 (19.9%) $1,246,107 (30.7%) 1.70 889
    2020-03-01 $511,998 (13.6%) $1,214,927 (25.2%) 1.61 921
    2020-04-01 $486,500 (5.6%) $1,066,206 (10.1%) 1.52 1,147
    2020-05-01 $499,000 (9.4%) $1,081,153 (17.3%) 1.52 1,165
    2020-06-01 $543,688 (15.2%) $1,223,830 (34.3%) 1.60 1,050
    2020-07-01 $559,391 (18.3%) $1,075,399 (17.8%) 1.62 904
    2020-08-01 $549,000 (17.3%) $1,077,319 (17.0%) 1.57 812
    2020-09-01 $567,500 (21.7%) $1,091,928 (16.6%) 1.63 728
    2020-10-01 $559,927 (20.4%) $1,206,204 (25.5%) 1.60 646
    2020-11-01 $539,596 (16.0%) $1,198,750 (18.8%) 1.58 518
    2020-12-01 $554,250 (17.3%) $1,232,422 (14.2%) 1.65 411
    2021-01-01 $564,800 (17.1%) $1,213,275 (6.1%) 1.69 362
    2021-02-01 $518,450 (-0.3%) $1,039,891 (-16.6%) 1.51 317
    2021-03-01 $501,250 (-2.1%) $1,064,944 (-12.4%) 1.42 354
    2021-04-01 $509,375 (4.7%) $907,368 (-14.9%) 1.38 569
    2021-05-01 $546,944 (9.6%) $986,884 (-8.7%) 1.45 427
    2021-06-01 $585,000 (7.6%) $1,051,873 (-14.1%) 1.54 436
    2021-07-01 $600,000 (7.3%) $1,071,346 (-0.4%) 1.58 561
    2021-08-01 $599,900 (9.3%) $1,117,461 (3.7%) 1.60 680
    2021-09-01 $599,674 (5.7%) $1,111,676 (1.8%) 1.60 767
    2021-10-01 $625,000 (11.6%) $1,124,207 (-6.8%) 1.67 759
    2021-11-01 $626,950 (16.2%) $1,176,436 (-1.9%) 1.68 648
    2021-12-01 $627,475 (13.2%) $1,213,272 (-1.6%) 1.70 471
    2022-01-01 $645,000 (14.2%) $1,322,996 (9.0%) 1.74 380
    2022-02-01 $649,850 (25.3%) $1,417,939 (36.4%) 1.69 348
    2022-03-01 $645,000 (28.7%) $1,417,150 (33.1%) 1.61 393
    2022-04-01 $689,900 (35.4%) $1,255,363 (38.4%) 1.64 561
    2022-05-01 $685,474 (25.3%) $1,207,958 (22.4%) 1.57 860
    2022-06-01 $672,750 (15.0%) $1,179,356 (12.1%) 1.50 1,282
    2022-07-01 $640,000 (6.7%) $1,116,661 (4.2%) 1.44 1,586
    2022-08-01 $632,500 (5.4%) $1,089,458 (-2.5%) 1.46 1,659
    2022-09-01 $624,973 (4.2%) $1,072,204 (-3.6%) 1.46 1,606
    2022-10-01 $599,997 (-4.0%) $1,078,809 (-4.0%) 1.41 1,601
    2022-11-01 $599,900 (-4.3%) $1,121,276 (-4.7%) 1.44 1,444
    2022-12-01 $599,999 (-4.4%) $1,156,128 (-4.7%) 1.48 1,176
    2023-01-01 $617,000 (-4.3%) $1,182,809 (-10.6%) 1.53 956
    2023-02-01 $630,000 (-3.1%) $1,252,541 (-11.7%) 1.52 789
    2023-03-01 $647,450 (0.4%) $1,235,410 (-12.8%) 1.53 719
    2023-04-01 $675,000 (-2.2%) $1,254,276 (-0.1%) 1.57 697
    2023-05-01 $683,750 (-0.3%) $1,282,310 (6.2%) 1.55 838
    2023-06-01 $689,366 (2.5%) $1,278,316 (8.4%) 1.55 959
    2023-07-01 $699,000 (9.2%) $1,334,655 (19.5%) 1.59 1,034
    2023-08-01 $699,500 (10.6%) $1,352,870 (24.2%) 1.61 1,067
    Reno's median listing price for 2023-08-01 was $699,500, a difference of $67,000 (10.6%) versus the prior year and $500 versus the prior month.

    Reno's median listing price comes in at 161% of the national average.

    Reno's average listing price for 2023-08-01 was $1,352,870, a difference of $263,412 (24.2%) versus the prior year and $18,215 versus the prior month.

    For the 2023-08-01 period, Reno had 1,067 MLS listings, a difference of 33 listings (3%) versus the prior month and -592 listings (-36%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Reno (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 73 days 2,355 sqft
    2018-02-01 50 days 2,329 sqft
    2018-03-01 43 days 2,274 sqft
    2018-04-01 43 days 2,319 sqft
    2018-05-01 36 days 2,147 sqft
    2018-06-01 37 days 2,128 sqft
    2018-07-01 37 days 2,110 sqft
    2018-08-01 40 days 2,084 sqft
    2018-09-01 45 days 2,076 sqft
    2018-10-01 52 days 2,030 sqft
    2018-11-01 59 days 2,009 sqft
    2018-12-01 71 days 2,010 sqft
    2019-01-01 78 days 1,989 sqft
    2019-02-01 71 days 2,020 sqft
    2019-03-01 58 days 2,079 sqft
    2019-04-01 44 days 2,138 sqft
    2019-05-01 38 days 2,111 sqft
    2019-06-01 41 days 2,158 sqft
    2019-07-01 44 days 2,131 sqft
    2019-08-01 48 days 2,120 sqft
    2019-09-01 54 days 2,148 sqft
    2019-10-01 59 days 2,164 sqft
    2019-11-01 65 days 2,129 sqft
    2019-12-01 72 days 2,186 sqft
    2020-01-01 75 days 2,194 sqft
    2020-02-01 58 days 2,293 sqft
    2020-03-01 37 days 2,195 sqft
    2020-04-01 40 days 2,118 sqft
    2020-05-01 43 days 2,191 sqft
    2020-06-01 44 days 2,290 sqft
    2020-07-01 43 days 2,307 sqft
    2020-08-01 41 days 2,204 sqft
    2020-09-01 32 days 2,220 sqft
    2020-10-01 43 days 2,160 sqft
    2020-11-01 48 days 2,096 sqft
    2020-12-01 55 days 2,103 sqft
    2021-01-01 50 days 2,100 sqft
    2021-02-01 34 days 1,932 sqft
    2021-03-01 18 days 1,868 sqft
    2021-04-01 17 days 1,849 sqft
    2021-05-01 25 days 1,868 sqft
    2021-06-01 29 days 1,930 sqft
    2021-07-01 28 days 2,011 sqft
    2021-08-01 30 days 2,000 sqft
    2021-09-01 32 days 1,947 sqft
    2021-10-01 37 days 2,085 sqft
    2021-11-01 41 days 2,039 sqft
    2021-12-01 50 days 2,030 sqft
    2022-01-01 52 days 2,024 sqft
    2022-02-01 32 days 2,018 sqft
    2022-03-01 26 days 2,008 sqft
    2022-04-01 25 days 2,106 sqft
    2022-05-01 25 days 2,071 sqft
    2022-06-01 29 days 2,066 sqft
    2022-07-01 36 days 2,029 sqft
    2022-08-01 49 days 2,034 sqft
    2022-09-01 58 days 2,024 sqft
    2022-10-01 61 days 2,016 sqft
    2022-11-01 68 days 2,019 sqft
    2022-12-01 81 days 2,015 sqft
    2023-01-01 92 days 2,024 sqft
    2023-02-01 85 days 2,030 sqft
    2023-03-01 59 days 2,064 sqft
    2023-04-01 44 days 2,161 sqft
    2023-05-01 37 days 2,165 sqft
    2023-06-01 38 days 2,177 sqft
    2023-07-01 42 days 2,229 sqft
    2023-08-01 44 days 2,223 sqft
    Reno's median listing age (time on market) for 2023-08-01 was 44 days. This is -10% shorter than the same period one year ago.

    Reno's median square footage for active listings during the 2023-08-01 period was 2,223 sqft. One year prior, the average listing was 2,034 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.