Reno VA Loan Rates, Closing Costs & Stats

RENO, NV

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 138 lenders originated 2,732 VA loans during 2021. The total origination value was $1,046,940,000, with an average VA loan value of $383,214.

Reno VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Reno averaged 6.58% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

Reno's average VA mortgage closing costs are $7,059.

The average rate for the prior week (2022-11-25) was 6.92% and one month ago for the week of 2022-10-28, the average rate was 7.31%.

The average rate one year ago was 3.39%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.63%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
FREEDOM MORTGAGE CORPORATION 252 2.38% $4,351
QUICKEN LOANS, LLC 223 2.42% $6,475
GUILD MORTGAGE COMPANY 209 2.70% $8,928
PENNYMAC LOAN SERVICES, LLC 154 2.31% $7,055
Mortgage Research Center, LLC 104 2.81% $6,926
LOANDEPOT.COM, LLC 90 2.40% $5,153
BROKER SOLUTIONS, INC. 76 2.82% $8,340
CLEARPATH LENDING 76 2.25% $5,156
CALIBER HOME LOANS, INC. 57 2.53% $6,313
UNITED WHOLESALE MORTGAGE, LLC 57 2.51% $5,830
LAKEVIEW LOAN SERVICING, LLC 46 2.48% $3,192
NAVY FEDERAL CREDIT UNION 46 2.43% $6,179
The Federal Savings Bank 44 2.55% $8,377
NEW DAY FINANCIAL, LLC 43 2.75% $11,056
ALL WESTERN MORTGAGE, INC. 42 3.26% $8,479
USAA Federal Savings Bank 42 2.84% $5,246
SUMMIT FUNDING, INC. 33 2.74% $11,642
PRIMELENDING, A PLAINSCAPITAL COMPANY 33 2.96% $10,138
DHI MORTGAGE COMPANY, LTD. 31 2.58% $8,135
MUTUAL OF OMAHA MORTGAGE, INC. 29 2.47% $7,565
Wells Fargo Bank 29 2.59% $4,066
EAGLE HOME MORTGAGE, LLC 24 2.90% $7,903
North American Savings Bank, F.S.B. 24 2.30% $3,807
AMERICAN FINANCIAL NETWORK, INC. 22 2.43% $7,673
TBI MORTGAGE COMPANY 21 2.69% $7,853
CELEBRITY HOME LOANS, LLC 21 2.95% $16,423
Mr. Cooper ( Nationstar Mortgage ) 21 2.62% $5,457
HOME POINT FINANCIAL CORPORATION 20 2.34% $5,815
Northpointe Bank 20 3.02% $8,497
SYNERGY HOME MORTGAGE, LLC 19 2.80% $9,190
CALCON MUTUAL MORTGAGE LLC 18 3.03% $14,542
BAY EQUITY LLC 18 2.77% $11,303
PLANET HOME LENDING, LLC 18 2.49% $4,066
AMERICAN PACIFIC MORTGAGE CORPORATION 18 2.78% $9,339
FINANCE OF AMERICA MORTGAGE LLC 17 2.82% $8,792
ISERVE RESIDENTIAL LENDING, LLC 17 3.15% $10,789
Low VA Rates, LLC 17 2.37% $5,551
MOVEMENT MORTGAGE, LLC 16 2.73% $7,352
InterContinental Capital Group, Inc 15 2.28% $4,825
NBKC BANK 15 2.52% $5,656
CROSSCOUNTRY MORTGAGE, LLC 14 2.74% $13,417
Hometown Lenders, Inc. 13 2.95% $11,962
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 13 2.73% $10,421
Magnolia Bank 12 2.56% $8,845
AMERISAVE MORTGAGE CORPORATION 12 2.57% $4,623
MANN FINANCIAL INC. 11 2.83% $8,724
NEWREZ LLC 11 2.76% $3,452
BNC National Bank 11 2.32% $3,557
VILLAGE CAPITAL MORTGAGE 11 2.57% $4,711
Carrington Mortgage Services, LLC 11 2.82% $4,072
Sierra Pacific Mortgage Company, Inc. 11 2.80% $7,065
PENTAGON FEDERAL CREDIT UNION 10 2.41% $4,072
GUARANTEED RATE, INC. 10 2.79% $7,731
Flagstar Bank, FSB 10 2.84% $13,207
SUN WEST MORTGAGE COMPANY, INC. 10 2.40% $12,435
Wolfe Financial, Inc 10 3.36% $8,037
Barrington Bank & Trust Company, N.A. 10 2.68% $2,858
MASON MCDUFFIE MORTGAGE CORPORATION 10 2.62% $11,547
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 2.78% $12,271
AXIA FINANCIAL, LLC 9 2.88% $6,563
NP, Inc. 9 2.31% $4,564
Umpqua Bank 9 2.51% $10,514
GREATER NEVADA LLC 8 2.86% $7,614
U.S. Bank 8 2.77% $13,011
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 7 3.39% $9,908
Gateway First Bank 6 2.90% $7,555
HOMEOWNERS FINANCIAL GROUP USA, LLC 6 2.90% $6,738
SOVEREIGN LENDING GROUP INCORPORATED 6 2.69% $2,912
Paramount Residential Mortgage Group, Inc. 6 2.67% $9,314
ALAMEDA MORTGAGE CORPORATION 5 3.03% $9,387
AMERICAN FINANCING CORPORATION 5 2.78% $10,360
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 2.93% $8,907
Capital Bank 5 2.58% $7,037
ON Q FINANCIAL, INC. 5 2.98% $12,791
Nations Lending Corporation 5 3.10% $13,277
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.08% $14,716
LADERA LENDING, INC. 5 2.43% $2,859
CMG MORTGAGE, INC. 4 2.50% $12,047
LOANPAL, LLC 4 2.53% $13,334
PREMIER MORTGAGE RESOURCES, L.L.C. 3 2.83% $9,357
Commerce Home Mortgage, Inc. 3 2.83% $10,342
First Savings Bank 3 2.38% $5,804
INTERNATIONAL CITY MORTGAGE, INC. 3 3.29% $15,445
First Federal Bank 3 2.96% $12,470
LENDUS, LLC 3 2.79% $13,304
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 2.46% $8,647
BELEM SERVICING LLC 3 2.25% $4,904
ZILLOW HOME LOANS, LLC 2 2.75% $12,586
DRAPER AND KRAMER MORTGAGE CORP. 2 2.50% $14,445
Wyndham Capital Mortgage, Inc. 2 2.38% $1,735
LAND HOME FINANCIAL SERVICES, INC. 2 2.56% $1,492
KS StateBank 2 2.38% $2,211
INSPIRE HOME LOANS INC. 2 2.69% $2,908
RESIDENTIAL BANCORP. 2 2.87% $14,553
INFINITY EQUITY GROUP, INC. 2 2.88% $7,240
Bank of England 2 2.31% $3,273
Zions Bancorporation, N.A. 2 2.25% $1,806
M&T Bank 1 2.75% $3,159
AMERICAN ADVISORS GROUP 1 2.38% $6,633
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 2.75% $1,029
Amerifirst Financial, Inc. 1 2.88% $13,128
BOKF 1 2.50% $3,862
CHERRY CREEK MORTGAGE, LLC 1 2.75% $268
CHURCHILL MORTGAGE CORPORATION 1 3.25% $11,657
Citizens Bank 1 2.25% $6,150
Equity Prime Mortgage LLC 1 3.75% $1,895
FBC MORTGAGE, LLC 1 2.25% $4,872
FIRST COLONY MORTGAGE CORPORATION 1 2.50% $17,923
First Guaranty Mortgage Corporation 1 2.25% $4,920
First National Bank 1 2.38% $5,448
FIRST NATIONS HOME FINANCE CORPORATION 1 2.75% $3,658
FIRST STATE MORTGAGE SERVICES, LLC 1 2.25% $2,812
Florida Capital Bank 1 3.63% $5,662
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.25% $4,142
Goldwater Bank, N.A. 1 2.25% $1,023
HAMILTON HOME LOANS, INC. 1 2.99% $15,671
IMPAC MORTGAGE CORP. 1 2.88% $0
LEADERONE FINANCIAL CORPORATION 1 2.38% $3,921
Meridian Bank Corporation 1 2.25% $4,354
ML Mortgage Corp. 1 2.88% $4,163
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $3,266
MOUNTAIN AMERICA 1 3.00% $17,046
ACADEMY MORTGAGE CORPORATION 1 3.00% $3,180
NBH Bank 1 2.25% $544
NFM, INC. 1 2.88% $7,498
OCMBC, INC. 1 2.25% $3,412
ONE NEVADA CREDIT UNION 1 2.25% $15,335
PINNACLE LENDING GROUP, INC. 1 2.37% $3,495
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $13,251
S&S Financial 1 2.25% $1,850
Sunflower Bank 1 2.25% $3,055
Texana Bank 1 2.25% $1,918
TJC Mortgage, Inc. 1 3.00% $4,917
Truist 1 2.75% $1,646
UNIVERSAL MORTGAGE & FINANCE, INC. 1 3.00% $6,812
V.I.P. MORTGAGE, INC. 1 3.25% $4,937
Watermark Capital, Inc. 1 2.25% $15,928
WESTERN EXPRESS LENDING 1 3.00% $1,570

The top Reno VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 252 VA loans originated. Their average total fees are $4,351, which is $2,124 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Reno VA lenders (with over 10 loans originated) are Barrington Bank & Trust Company, N.A. ($2,858), LAKEVIEW LOAN SERVICING, LLC ($3,192), NEWREZ LLC ($3,452), BNC National Bank ($3,557) and North American Savings Bank, F.S.B. ($3,807).

The lowest rate Reno VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.25%), InterContinental Capital Group, Inc (2.28%), North American Savings Bank, F.S.B. (2.30%), PENNYMAC LOAN SERVICES, LLC (2.31%) and BNC National Bank (2.32%).


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 (29.9%) 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%) 1.56 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%) 1.46 1,312
2019-03-01 $450,657 (-9.6%) $970,826 (-14.9%) 1.47 1,259
2019-04-01 $460,706 (-10.9%) $969,572 (-14.5%) 1.46 1,261
2019-05-01 $455,675 (-6.4%) $921,217 (-12.9%) 1.42 1,462
2019-06-01 $470,000 (-2.1%) $910,868 (-11.1%) 1.47 1,633
2019-07-01 $472,223 (0.7%) $911,557 (-5.7%) 1.48 1,794
2019-08-01 $467,909 (4.0%) $919,331 (-0.6%) 1.48 1,810
2019-09-01 $466,273 (3.9%) $934,535 (4.8%) 1.49 1,748
2019-10-01 $465,000 (8.3%) $958,379 (11.9%) 1.50 1,680
2019-11-01 $465,000 (9.0%) $1,006,078 (17.2%) 1.52 1,489
2019-12-01 $472,200 (11.4%) $1,074,799 (24.8%) 1.57 1,238
2020-01-01 $479,950 (12.3%) $1,138,427 (25.0%) 1.60 1,060
2020-02-01 $519,900 (19.9%) $1,239,134 (30.0%) 1.70 896
2020-03-01 $505,688 (12.2%) $1,208,551 (24.5%) 1.58 928
2020-04-01 $484,450 (5.2%) $1,061,953 (9.5%) 1.52 1,154
2020-05-01 $498,250 (9.3%) $1,076,924 (16.9%) 1.51 1,172
2020-06-01 $539,398 (14.8%) $1,218,191 (33.7%) 1.59 1,057
2020-07-01 $552,500 (17.0%) $1,070,394 (17.4%) 1.60 911
2020-08-01 $544,000 (16.3%) $1,071,989 (16.6%) 1.56 819
2020-09-01 $564,863 (21.1%) $1,085,744 (16.2%) 1.62 735
2020-10-01 $555,000 (19.4%) $1,198,513 (25.1%) 1.59 653
2020-11-01 $535,000 (15.1%) $1,190,683 (18.4%) 1.56 525
2020-12-01 $549,716 (16.4%) $1,221,882 (13.7%) 1.63 418
2021-01-01 $550,000 (14.6%) $1,201,484 (5.5%) 1.64 369
2021-02-01 $508,000 (-2.3%) $1,030,142 (-16.9%) 1.48 324
2021-03-01 $499,000 (-1.3%) $1,054,960 (-12.7%) 1.42 361
2021-04-01 $507,450 (4.8%) $901,724 (-15.1%) 1.37 576
2021-05-01 $539,900 (8.4%) $979,688 (-9.0%) 1.43 434
2021-06-01 $582,500 (8.0%) $1,044,201 (-14.3%) 1.53 443
2021-07-01 $599,900 (8.6%) $1,064,240 (-0.6%) 1.58 567
2021-08-01 $599,432 (10.2%) $1,111,427 (3.7%) 1.60 686
2021-09-01 $599,000 (6.0%) $1,107,229 (2.0%) 1.60 772
2021-10-01 $624,900 (12.6%) $1,118,515 (-6.7%) 1.67 766
2021-11-01 $622,500 (16.4%) $1,169,574 (-1.8%) 1.66 655
2021-12-01 $620,000 (12.8%) $1,203,806 (-1.5%) 1.68 478
2022-01-01 $642,000 (16.7%) $1,308,873 (8.9%) 1.74 387
2022-02-01 $639,950 (26.0%) $1,402,300 (36.1%) 1.66 355
2022-03-01 $639,963 (28.3%) $1,403,189 (33.0%) 1.60 400
2022-04-01 $684,950 (35.0%) $1,247,320 (38.3%) 1.63 568
2022-05-01 $681,998 (26.3%) $1,202,051 (22.7%) 1.56 867
2022-06-01 $672,000 (15.4%) $1,175,548 (12.6%) 1.50 1,289
2022-07-01 $639,448 (6.6%) $1,113,598 (4.6%) 1.45 1,593
2022-08-01 $632,500 (5.5%) $1,087,053 (-2.2%) 1.46 1,666
2022-09-01 $622,225 (3.9%) $1,069,620 (-3.4%) 1.46 1,613
2022-10-01 $599,950 (-4.0%) $1,076,908 (-3.7%) 1.41 1,607
2022-11-01 $599,700 (-3.7%) $1,118,649 (-4.4%) 1.44 1,450
Reno's median listing price for 2022-11-01 was $599,700, a difference of $-22,800 (-3.7%) versus the prior year and $-250 versus the prior month.

Reno's median listing price comes in at 144% of the national average.

Reno's average listing price for 2022-11-01 was $1,118,649, a difference of $-50,925 (-4.4%) versus the prior year and $41,741 versus the prior month.

For the 2022-11-01 period, Reno had 1,450 MLS listings, a difference of -157 listings (-10%) versus the prior month and 795 listings (121%) 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 83 days 2,355 sqft
2018-02-01 60 days 2,329 sqft
2018-03-01 47 days 2,274 sqft
2018-04-01 46 days 2,319 sqft
2018-05-01 39 days 2,147 sqft
2018-06-01 39 days 2,128 sqft
2018-07-01 40 days 2,110 sqft
2018-08-01 43 days 2,084 sqft
2018-09-01 47 days 2,076 sqft
2018-10-01 53 days 2,030 sqft
2018-11-01 61 days 2,009 sqft
2018-12-01 73 days 2,010 sqft
2019-01-01 81 days 1,989 sqft
2019-02-01 75 days 2,020 sqft
2019-03-01 61 days 2,079 sqft
2019-04-01 45 days 2,138 sqft
2019-05-01 39 days 2,109 sqft
2019-06-01 42 days 2,157 sqft
2019-07-01 45 days 2,128 sqft
2019-08-01 50 days 2,116 sqft
2019-09-01 57 days 2,144 sqft
2019-10-01 63 days 2,160 sqft
2019-11-01 68 days 2,128 sqft
2019-12-01 78 days 2,184 sqft
2020-01-01 79 days 2,192 sqft
2020-02-01 65 days 2,279 sqft
2020-03-01 42 days 2,193 sqft
2020-04-01 42 days 2,117 sqft
2020-05-01 46 days 2,186 sqft
2020-06-01 50 days 2,279 sqft
2020-07-01 48 days 2,303 sqft
2020-08-01 44 days 2,199 sqft
2020-09-01 35 days 2,216 sqft
2020-10-01 46 days 2,143 sqft
2020-11-01 53 days 2,091 sqft
2020-12-01 58 days 2,098 sqft
2021-01-01 54 days 2,091 sqft
2021-02-01 37 days 1,910 sqft
2021-03-01 19 days 1,865 sqft
2021-04-01 18 days 1,845 sqft
2021-05-01 28 days 1,855 sqft
2021-06-01 30 days 1,924 sqft
2021-07-01 29 days 2,002 sqft
2021-08-01 30 days 1,988 sqft
2021-09-01 33 days 1,942 sqft
2021-10-01 38 days 2,081 sqft
2021-11-01 42 days 2,036 sqft
2021-12-01 51 days 2,028 sqft
2022-01-01 53 days 2,022 sqft
2022-02-01 34 days 2,012 sqft
2022-03-01 28 days 2,005 sqft
2022-04-01 26 days 2,105 sqft
2022-05-01 25 days 2,063 sqft
2022-06-01 30 days 2,059 sqft
2022-07-01 37 days 2,025 sqft
2022-08-01 49 days 2,033 sqft
2022-09-01 58 days 2,024 sqft
2022-10-01 63 days 2,015 sqft
2022-11-01 70 days 2,017 sqft
Reno's median listing age (time on market) for 2022-11-01 was 70 days. This is 67% longer than the same period one year ago.

Reno's median square footage for active listings during the 2022-11-01 period was 2,017 sqft. One year prior, the average listing was 2,036 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.