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 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 6.68% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

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

The average rate for the prior week (2024-04-05) was 6.23% and one month ago for the week of 2024-03-08, the average rate was 6.46%.

The average rate one year ago was 5.76%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.67%.

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.