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 80 lenders originated 455 VA loans during 2023. The total origination value was $230,225,000, with an average VA loan value of $505,989.

    Reno VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Reno averaged 6.57% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Reno's average VA mortgage closing costs are $7,886.

    The average rate for the prior week (2024-04-12) was 6.5% and one month ago for the week of 2024-03-15, the average rate was 6.36%.

    The average rate one year ago was 5.85%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.15%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 50 6.63% $7,886
    GUILD MORTGAGE COMPANY 42 6.44% $19,413
    UNITED WHOLESALE MORTGAGE, LLC 40 6.14% $9,364
    QUICKEN LOANS, LLC 24 5.94% $21,078
    EAGLE HOME MORTGAGE, LLC 19 5.39% $8,101
    CROSSCOUNTRY MORTGAGE, LLC 18 6.09% $9,081
    DHI MORTGAGE COMPANY, LTD. 17 5.47% $7,666
    AXIA FINANCIAL, LLC 14 6.08% $17,413
    NAVY FEDERAL CREDIT UNION 13 5.69% $8,362
    FREEDOM MORTGAGE CORPORATION 13 6.30% $23,843
    USAA Federal Savings Bank 12 6.09% $13,904
    PRIMELENDING, A PLAINSCAPITAL COMPANY 10 6.03% $13,416
    BROKER SOLUTIONS, INC. 8 6.50% $9,742
    PENNYMAC LOAN SERVICES, LLC 8 5.41% $14,491
    SUMMIT FUNDING, INC. 8 6.26% $11,689
    The Federal Savings Bank 7 6.14% $29,590
    NEW DAY FINANCIAL, LLC 6 7.22% $21,842
    TJC Mortgage, Inc. 6 6.73% $14,436
    INFINITY EQUITY GROUP, INC. 5 6.88% $12,311
    AMERICAN FINANCIAL NETWORK, INC. 5 5.88% $15,905
    MOVEMENT MORTGAGE, LLC 4 6.38% $17,319
    Plains Commerce Bank 4 5.38% $17,657
    Gateway First Bank 4 6.38% $11,783
    U.S. Bank 4 5.47% $8,031
    LOANDEPOT.COM, LLC 4 5.46% $13,222
    Barrington Bank & Trust Company, N.A. 3 6.42% $18,193
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.13% $15,440
    ISERVE RESIDENTIAL LENDING, LLC 3 6.54% $21,136
    MASON MCDUFFIE MORTGAGE CORPORATION 3 6.79% $21,150
    LOANPAL, LLC 3 5.66% $16,423
    CARDINAL FINANCIAL 3 6.00% $17,722
    CMG MORTGAGE, INC. 3 6.58% $12,412
    TBI MORTGAGE COMPANY 3 6.04% $8,450
    Wells Fargo Bank 3 4.46% $12,979
    VILLAGE CAPITAL MORTGAGE 3 6.42% $12,668
    Paramount Residential Mortgage Group, Inc. 3 6.33% $16,369
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 5.75% $26,705
    CALCON MUTUAL MORTGAGE LLC 2 6.06% $5,161
    ALAMEDA MORTGAGE CORPORATION 2 5.50% $8,218
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 2 5.88% $26,016
    Flagstar Bank, FSB 2 6.75% $5,288
    Magnolia Bank 2 6.38% $26,532
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.25% $15,729
    NEWREZ LLC 2 6.13% $10,713
    PENTAGON FEDERAL CREDIT UNION 2 5.25% $20,486
    AMERISAVE MORTGAGE CORPORATION 2 5.75% $11,084
    The Central Trust Bank 2 6.75% $5,387
    American Mortgage & Equity Consultants, Inc. 2 6.50% $15,050
    INTERCAP LENDING INC. 1 5.63% $9,749
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.50% $7,621
    NBKC BANK 1 6.50% $3,112
    Network Funding, L.P. 1 7.13% $8,552
    GUARANTY HOME MORTGAGE CORPORATION 1 5.25% $11,879
    Century Mortgage Company DBA Century Lending Company 1 6.75% $12,000
    NFM, INC. 1 7.25% $20,951
    OCMBC, INC. 1 7.13% $11,354
    ONE NEVADA CREDIT UNION 1 6.50% $1,910
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 7.00% $5,671
    GUARANTEED RATE, INC. 1 5.25% $4,227
    GREATER NEVADA LLC 1 6.63% $7,633
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.38% $5,814
    BAY EQUITY LLC 1 4.75% $3,916
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.25% $24,030
    CALIBER HOME LOANS, INC. 1 6.25% $5,992
    Prosperity Home Mortgage, LLC 1 5.75% $7,778
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.00% $15,920
    Sierra Pacific Mortgage Company, Inc. 1 7.13% $5,898
    SNAPFI, INC. 1 6.63% $12,622
    Stifel Bank and Trust 1 5.63% $18,693
    First Savings Bank 1 6.25% $8,873
    SYNERGY HOME MORTGAGE, LLC 1 5.75% $10,696
    First Federal Bank 1 6.25% $6,614
    Cornerstone First Mortgage, Inc 1 5.50% $26,218
    FIRST COMMUNITY MORTGAGE, INC. 1 5.63% $33,585
    MANN FINANCIAL INC. 1 7.50% $6,866
    Ixonia Bank 1 5.75% $13,536
    Armed Forces Bank 1 7.00% $29,738
    Equity Prime Mortgage LLC 1 6.38% $5,056
    INTERNATIONAL CITY MORTGAGE, INC. 1 7.25% $9,710
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $15,607

    The top Reno VA lender as defined by loan originations is Mortgage Research Center, LLC, with 50 VA loans originated. Their average total fees are $7,886, which is $11,528 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Reno VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($7,666), Mortgage Research Center, LLC ($7,886), EAGLE HOME MORTGAGE, LLC ($8,101), NAVY FEDERAL CREDIT UNION ($8,362) and CROSSCOUNTRY MORTGAGE, LLC ($9,081).

    The lowest rate Reno VA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.39%), DHI MORTGAGE COMPANY, LTD. (5.47%), NAVY FEDERAL CREDIT UNION (5.69%), QUICKEN LOANS, LLC (5.94%) and PRIMELENDING, A PLAINSCAPITAL COMPANY (6.03%).

    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 (6.5%) $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%) $971,170 (-14.9%) 1.47 1,259
    2019-04-01 $460,706 (-10.9%) $969,211 (-14.5%) 1.46 1,259
    2019-05-01 $456,325 (-6.3%) $921,862 (-12.8%) 1.43 1,459
    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 (25.1%) 1.61 921
    2020-04-01 $486,500 (5.6%) $1,066,206 (10.0%) 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%) $1,051,995 (-14.0%) 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%) $1,105,913 (2.7%) 1.60 679
    2021-09-01 $599,225 (5.6%) $1,101,441 (0.9%) 1.60 766
    2021-10-01 $625,000 (11.6%) $1,113,978 (-7.7%) 1.67 758
    2021-11-01 $626,575 (16.1%) $1,164,608 (-2.9%) 1.67 647
    2021-12-01 $625,000 (12.8%) $1,198,097 (-2.8%) 1.69 470
    2022-01-01 $645,000 (14.2%) $1,318,919 (8.7%) 1.74 379
    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 (-1.5%) 1.46 1,659
    2022-09-01 $624,973 (4.3%) $1,072,204 (-2.7%) 1.46 1,606
    2022-10-01 $599,997 (-4.0%) $1,078,809 (-3.2%) 1.41 1,601
    2022-11-01 $599,900 (-4.3%) $1,121,276 (-3.7%) 1.44 1,444
    2022-12-01 $599,999 (-4.0%) $1,156,128 (-3.5%) 1.48 1,176
    2023-01-01 $617,000 (-4.3%) $1,182,809 (-10.3%) 1.53 956
    2023-02-01 $630,000 (-3.1%) $1,247,014 (-12.1%) 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
    2023-09-01 $699,000 (11.8%) $1,328,056 (23.9%) 1.63 1,111
    2023-10-01 $676,975 (12.8%) $1,335,372 (23.8%) 1.59 1,123
    2023-11-01 $651,249 (8.6%) $1,320,650 (17.8%) 1.55 1,044
    2023-12-01 $647,500 (7.9%) $1,304,951 (12.9%) 1.58 935
    2024-01-01 $646,250 (4.7%) $1,324,552 (12.0%) 1.58 839
    2024-02-01 $652,000 (3.5%) $1,349,196 (8.2%) 1.57 752
    2024-03-01 $659,498 (1.9%) $1,351,740 (9.4%) 1.55 754
    Reno's median listing price for 2024-03-01 was $659,498, a difference of $12,048 (1.9%) versus the prior year and $7,498 versus the prior month.

    Reno's median listing price comes in at 155% of the national average.

    Reno's average listing price for 2024-03-01 was $1,351,740, a difference of $116,330 (9.4%) versus the prior year and $2,544 versus the prior month.

    For the 2024-03-01 period, Reno had 754 MLS listings, a difference of 2 listings (0%) versus the prior month and 35 listings (5%) 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 2,080 sqft
    2019-04-01 44 days 2,139 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 55 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 26 days 1,868 sqft
    2021-06-01 29 days 1,930 sqft
    2021-07-01 28 days 2,006 sqft
    2021-08-01 30 days 1,995 sqft
    2021-09-01 32 days 1,944 sqft
    2021-10-01 37 days 2,084 sqft
    2021-11-01 41 days 2,037 sqft
    2021-12-01 50 days 2,030 sqft
    2022-01-01 52 days 2,023 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
    2023-09-01 50 days 2,189 sqft
    2023-10-01 55 days 2,154 sqft
    2023-11-01 60 days 2,135 sqft
    2023-12-01 69 days 2,081 sqft
    2024-01-01 78 days 2,082 sqft
    2024-02-01 70 days 2,044 sqft
    2024-03-01 51 days 2,053 sqft
    Reno's median listing age (time on market) for 2024-03-01 was 51 days. This is -14% shorter than the same period one year ago.

    Reno's median square footage for active listings during the 2024-03-01 period was 2,053 sqft. One year prior, the average listing was 2,064 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.