Reno VA Loans

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 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 5.33% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

The average rate for the prior week (2022-05-13) was 5.54% and one month ago for the week of 2022-04-15, the average rate was 5.1%.

The average rate one year ago was 3.3%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.18%.

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 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. Total Fees
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
NAVY FEDERAL CREDIT UNION 46 2.43% $6,179
LAKEVIEW LOAN SERVICING, LLC 46 2.48% $3,192
The Federal Savings Bank 44 2.55% $8,377
NEW DAY FINANCIAL, LLC 43 2.75% $11,056
USAA Federal Savings Bank 42 2.84% $5,246
ALL WESTERN MORTGAGE, INC. 42 3.26% $8,479
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
North American Savings Bank, F.S.B. 24 2.30% $3,807
EAGLE HOME MORTGAGE, LLC 24 2.90% $7,903
AMERICAN FINANCIAL NETWORK, INC. 22 2.43% $7,673
CELEBRITY HOME LOANS, LLC 21 2.95% $16,423
TBI MORTGAGE COMPANY 21 2.69% $7,853
Mr. Cooper ( Nationstar Mortgage ) 21 2.62% $5,457
Northpointe Bank 20 3.02% $8,497
HOME POINT FINANCIAL CORPORATION 20 2.34% $5,815
SYNERGY HOME MORTGAGE, LLC 19 2.80% $9,190
AMERICAN PACIFIC MORTGAGE CORPORATION 18 2.78% $9,339
CALCON MUTUAL MORTGAGE LLC 18 3.03% $14,542
PLANET HOME LENDING, LLC 18 2.49% $4,066
BAY EQUITY LLC 18 2.77% $11,303
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
NEWREZ LLC 11 2.76% $3,452
Sierra Pacific Mortgage Company, Inc. 11 2.80% $7,065
Carrington Mortgage Services, LLC 11 2.82% $4,072
MANN FINANCIAL INC. 11 2.83% $8,724
BNC National Bank 11 2.32% $3,557
VILLAGE CAPITAL & INVESTMENT LLC 11 2.57% $4,711
Wolfe Financial, Inc 10 3.36% $8,037
Barrington Bank & Trust Company, N.A. 10 2.68% $2,858
SUN WEST MORTGAGE COMPANY, INC. 10 2.40% $12,435
Flagstar Bank, FSB 10 2.84% $13,207
GUARANTEED RATE, INC. 10 2.79% $7,731
PENTAGON FEDERAL CREDIT UNION 10 2.41% $4,072
MASON MCDUFFIE MORTGAGE CORPORATION 10 2.62% $11,547
AXIA FINANCIAL, LLC 9 2.88% $6,563
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 2.78% $12,271
Umpqua Bank 9 2.51% $10,514
NP, Inc. 9 2.31% $4,564
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
HOMEOWNERS FINANCIAL GROUP USA, LLC 6 2.90% $6,738
Paramount Residential Mortgage Group, Inc. 6 2.67% $9,314
Gateway First Bank 6 2.90% $7,555
SOVEREIGN LENDING GROUP INCORPORATED 6 2.69% $2,912
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 2.93% $8,907
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.08% $14,716
Capital Bank 5 2.58% $7,037
AMERICAN FINANCING CORPORATION 5 2.78% $10,360
LADERA LENDING, INC. 5 2.43% $2,859
ALAMEDA MORTGAGE CORPORATION 5 3.03% $9,387
ON Q FINANCIAL, INC. 5 2.98% $12,791
Nations Lending Corporation 5 3.10% $13,277
LOANPAL, LLC 4 2.53% $13,334
CMG MORTGAGE, INC. 4 2.50% $12,047
LENDUS, LLC 3 2.79% $13,304
First Savings Bank 3 2.38% $5,804
PREMIER MORTGAGE RESOURCES, L.L.C. 3 2.83% $9,357
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 2.46% $8,647
INTERNATIONAL CITY MORTGAGE, INC. 3 3.29% $15,445
BELEM SERVICING LLC 3 2.25% $4,904
First Federal Bank 3 2.96% $12,470
Commerce Home Mortgage, Inc. 3 2.83% $10,342
Zions Bancorporation, N.A. 2 2.25% $1,806
Bank of England 2 2.31% $3,273
DRAPER AND KRAMER MORTGAGE CORP. 2 2.50% $14,445
INFINITY EQUITY GROUP, INC. 2 2.88% $7,240
INSPIRE HOME LOANS INC. 2 2.69% $2,908
KS StateBank 2 2.38% $2,211
LAND HOME FINANCIAL SERVICES, INC. 2 2.56% $1,492
RESIDENTIAL BANCORP. 2 2.87% $14,553
Wyndham Capital Mortgage, Inc. 2 2.38% $1,735
ZILLOW HOME LOANS, LLC 2 2.75% $12,586
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $3,266
OCMBC, INC. 1 2.25% $3,412
ONE NEVADA CREDIT UNION 1 2.25% $15,335
ML Mortgage Corp. 1 2.88% $4,163
Meridian Bank Corporation 1 2.25% $4,354
Manufacturers and Traders Trust Company 1 2.75% $3,159
LEADERONE FINANCIAL CORPORATION 1 2.38% $3,921
PINNACLE LENDING GROUP, INC. 1 2.37% $3,495
IMPAC MORTGAGE CORP. 1 2.88% $0
HAMILTON HOME LOANS, INC. 1 2.99% $15,671
Goldwater Bank, N.A. 1 2.25% $1,023
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.25% $4,142
Florida Capital Bank 1 3.63% $5,662
ACADEMY MORTGAGE CORPORATION 1 3.00% $3,180
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $13,251
FIRST STATE MORTGAGE SERVICES, LLC 1 2.25% $2,812
FIRST NATIONS HOME FINANCE CORPORATION 1 2.75% $3,658
S&S Financial 1 2.25% $1,850
First National Bank 1 2.38% $5,448
Sunflower Bank 1 2.25% $3,055
First Guaranty Mortgage Corporation 1 2.25% $4,920
FIRST COLONY MORTGAGE CORPORATION 1 2.50% $17,923
FBC MORTGAGE, LLC 1 2.25% $4,872
Texana Bank 1 2.25% $1,918
Equity Prime Mortgage LLC 1 3.75% $1,895
TJC Mortgage, Inc. 1 3.00% $4,917
Truist Bank 1 2.75% $1,646
Citizens Bank 1 2.25% $6,150
CHURCHILL MORTGAGE CORPORATION 1 3.25% $11,657
UNIVERSAL MORTGAGE & FINANCE, INC. 1 3.00% $6,812
CHERRY CREEK MORTGAGE, LLC 1 2.75% $268
BOKF 1 2.50% $3,862
Amerifirst Financial, Inc. 1 2.88% $13,128
V.I.P. MORTGAGE, INC. 1 3.25% $4,937
Watermark Capital, Inc. 1 2.25% $15,928
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 2.75% $1,029
WESTERN EXPRESS LENDING 1 3.00% $1,570
AMERICAN ADVISORS GROUP 1 2.38% $6,633
NFM, INC. 1 2.88% $7,498
NBH Bank 1 2.25% $544
MOUNTAIN AMERICA 1 3.00% $17,046

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 $519,000 (19.0%) $1,059,170 (23.4%) 1.91 840
2018-02-01 $512,500 (15.8%) $1,061,501 (21.4%) 1.85 825
2018-03-01 $524,995 (19.7%) $1,067,619 (23.2%) 1.82 832
2018-04-01 $534,998 (21.7%) $1,068,666 (24.6%) 1.80 918
2018-05-01 $499,998 (11.1%) $1,004,425 (16.7%) 1.67 1,025
2018-06-01 $499,500 (8.8%) $957,762 (13.4%) 1.67 1,131
2018-07-01 $481,448 (2.0%) $903,749 (7.1%) 1.61 1,445
2018-08-01 $469,000 (-1.2%) $867,823 (-0.6%) 1.57 1,662
2018-09-01 $452,000 (-9.4%) $842,243 (-7.3%) 1.51 1,774
2018-10-01 $435,450 (-10.7%) $816,521 (-11.4%) 1.46 1,877
2018-11-01 $432,450 (-15.1%) $816,044 (-14.3%) 1.45 1,808
2018-12-01 $426,000 (-14.9%) $810,479 (-18.4%) 1.46 1,677
2019-01-01 $432,450 (-16.7%) $847,696 (-20.0%) 1.49 1,469
2019-02-01 $437,975 (-14.5%) $883,851 (-16.7%) 1.47 1,358
2019-03-01 $453,571 (-13.6%) $906,188 (-15.1%) 1.48 1,288
2019-04-01 $463,571 (-13.4%) $916,370 (-14.3%) 1.46 1,263
2019-05-01 $460,000 (-8.0%) $861,120 (-14.3%) 1.42 1,467
2019-06-01 $474,900 (-4.9%) $842,937 (-12.0%) 1.46 1,626
2019-07-01 $470,000 (-2.4%) $829,803 (-8.2%) 1.46 1,785
2019-08-01 $465,000 (-0.9%) $828,064 (-4.6%) 1.46 1,818
2019-09-01 $457,000 (1.1%) $830,926 (-1.3%) 1.45 1,785
2019-10-01 $468,250 (7.5%) $893,793 (9.5%) 1.49 1,684
2019-11-01 $465,000 (7.5%) $933,621 (14.4%) 1.50 1,487
2019-12-01 $474,000 (11.3%) $990,746 (22.2%) 1.58 1,244
2020-01-01 $487,000 (12.6%) $1,039,224 (22.6%) 1.62 1,061
2020-02-01 $529,000 (20.8%) $1,123,884 (27.2%) 1.71 899
2020-03-01 $522,000 (15.1%) $1,135,015 (25.3%) 1.63 934
2020-04-01 $489,450 (5.6%) $986,825 (7.7%) 1.52 1,170
2020-05-01 $509,950 (10.9%) $1,022,159 (18.7%) 1.55 1,182
2020-06-01 $547,450 (15.3%) $1,104,294 (31.0%) 1.60 1,056
2020-07-01 $564,500 (20.1%) $1,062,073 (28.0%) 1.62 912
2020-08-01 $555,000 (19.4%) $1,101,561 (33.0%) 1.59 813
2020-09-01 $584,500 (27.9%) $1,083,295 (30.4%) 1.67 723
2020-10-01 $599,000 (27.9%) $1,292,259 (44.6%) 1.71 645
2020-11-01 $597,000 (28.4%) $1,359,994 (45.7%) 1.71 525
2020-12-01 $584,950 (23.4%) $1,298,246 (31.0%) 1.72 421
2021-01-01 $570,000 (17.0%) $1,260,254 (21.3%) 1.68 372
2021-02-01 $519,500 (-1.8%) $1,144,079 (1.8%) 1.49 324
2021-03-01 $516,750 (-1.0%) $1,170,334 (3.1%) 1.45 361
2021-04-01 $512,500 (4.7%) $1,014,340 (2.8%) 1.38 587
2021-05-01 $549,800 (7.8%) $1,116,504 (9.2%) 1.45 445
2021-06-01 $585,000 (6.9%) $1,156,504 (4.7%) 1.52 453
2021-07-01 $600,000 (6.3%) $1,197,513 (12.8%) 1.56 565
2021-08-01 $602,000 (8.5%) $1,188,497 (7.9%) 1.58 699
2021-09-01 $599,975 (2.7%) $1,175,348 (8.5%) 1.58 786
2021-10-01 $630,000 (5.2%) $1,186,770 (-8.2%) 1.66 769
2021-11-01 $627,500 (5.1%) $1,220,951 (-10.2%) 1.65 656
2021-12-01 $637,450 (9.0%) $1,250,475 (-3.7%) 1.70 479
2022-01-01 $650,000 (14.0%) $1,379,332 (9.5%) 1.73 398
2022-02-01 $652,000 (25.5%) $1,405,160 (22.8%) 1.66 354
2022-03-01 $649,875 (25.8%) $1,406,967 (20.2%) 1.60 395
2022-04-01 $699,000 (36.4%) $1,245,980 (22.8%) 1.64 584
Reno's median listing price for 2022-04-01 was $699,000, a difference of $186,500 (36.4%) versus the prior year and $49,125 versus the prior month.

Reno's median listing price comes in at 164% of the national average.

Reno's average listing price for 2022-04-01 was $1,245,980, a difference of $231,640 (22.8%) versus the prior year and $-160,987 versus the prior month.

For the 2022-04-01 period, Reno had 584 MLS listings, a difference of 189 listings (48%) versus the prior month and -3 listings (-1%) 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 86 days 2,394 sqft
2018-02-01 64 days 2,345 sqft
2018-03-01 50 days 2,320 sqft
2018-04-01 48 days 2,356 sqft
2018-05-01 40 days 2,183 sqft
2018-06-01 40 days 2,175 sqft
2018-07-01 41 days 2,134 sqft
2018-08-01 43 days 2,105 sqft
2018-09-01 48 days 2,084 sqft
2018-10-01 54 days 2,043 sqft
2018-11-01 61 days 2,022 sqft
2018-12-01 73 days 2,016 sqft
2019-01-01 84 days 1,985 sqft
2019-02-01 76 days 2,012 sqft
2019-03-01 63 days 2,063 sqft
2019-04-01 49 days 2,108 sqft
2019-05-01 41 days 2,106 sqft
2019-06-01 43 days 2,148 sqft
2019-07-01 46 days 2,121 sqft
2019-08-01 50 days 2,092 sqft
2019-09-01 55 days 2,090 sqft
2019-10-01 63 days 2,168 sqft
2019-11-01 68 days 2,129 sqft
2019-12-01 78 days 2,186 sqft
2020-01-01 83 days 2,198 sqft
2020-02-01 70 days 2,305 sqft
2020-03-01 46 days 2,237 sqft
2020-04-01 43 days 2,144 sqft
2020-05-01 48 days 2,215 sqft
2020-06-01 51 days 2,327 sqft
2020-07-01 49 days 2,331 sqft
2020-08-01 45 days 2,252 sqft
2020-09-01 36 days 2,256 sqft
2020-10-01 38 days 2,268 sqft
2020-11-01 39 days 2,195 sqft
2020-12-01 55 days 2,177 sqft
2021-01-01 51 days 2,123 sqft
2021-02-01 37 days 1,994 sqft
2021-03-01 22 days 1,887 sqft
2021-04-01 19 days 1,846 sqft
2021-05-01 32 days 1,823 sqft
2021-06-01 34 days 1,897 sqft
2021-07-01 31 days 1,954 sqft
2021-08-01 31 days 1,975 sqft
2021-09-01 35 days 1,946 sqft
2021-10-01 40 days 2,076 sqft
2021-11-01 42 days 2,046 sqft
2021-12-01 50 days 2,020 sqft
2022-01-01 55 days 2,012 sqft
2022-02-01 39 days 1,996 sqft
2022-03-01 30 days 2,019 sqft
2022-04-01 28 days 2,105 sqft
Reno's median listing age (time on market) for 2022-04-01 was 28 days. This is 51% longer than the same period one year ago.

Reno's median square footage for active listings during the 2022-04-01 period was 2,105 sqft. One year prior, the average listing was 1,846 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.