Shelton VA Loan Rates, Closing Costs & Stats

Shelton, WA

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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.

    Shelton's 51 lenders originated 197 VA loans during 2023. The total origination value was $78,725,000, with an average VA loan value of $399,619.

    Shelton VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Shelton averaged 6.51% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Shelton's average VA mortgage closing costs are $7,209.

    The average rate for the prior week (2024-07-12) was 6.65% and one month ago for the week of 2024-06-14, the average rate was 6.51%.

    The average rate one year ago was 6.99%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.4%.

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

    Shelton 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 Shelton level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 23 6.80% $8,322
    UNITED WHOLESALE MORTGAGE, LLC 16 6.06% $8,578
    NAVY FEDERAL CREDIT UNION 13 5.87% $10,047
    QUICKEN LOANS, LLC 10 5.97% $10,484
    ACADEMY MORTGAGE CORPORATION 10 6.48% $12,961
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.53% $6,920
    MOVEMENT MORTGAGE, LLC 8 6.78% $10,617
    FREEDOM MORTGAGE CORPORATION 8 6.63% $23,667
    EAGLE HOME MORTGAGE, LLC 7 5.63% $8,694
    CROSSCOUNTRY MORTGAGE, LLC 7 7.31% $8,773
    CALIBER HOME LOANS, INC. 6 6.31% $8,962
    LOANDEPOT.COM, LLC 6 6.52% $14,264
    NBKC BANK 5 5.80% $8,699
    GUILD MORTGAGE COMPANY 4 6.63% $13,220
    VILLAGE CAPITAL MORTGAGE 4 6.22% $6,186
    T2 FINANCIAL LLC 3 6.79% $6,149
    GUARANTEED RATE, INC. 3 6.63% $12,658
    NEW DAY FINANCIAL, LLC 3 7.66% $17,809
    NOVA FINANCIAL & INVESTMENT CORPORATION 3 6.42% $12,761
    NEWREZ LLC 3 6.13% $7,378
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 3 7.00% $12,235
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.56% $6,850
    Paramount Residential Mortgage Group, Inc. 2 6.13% $8,559
    The Federal Savings Bank 2 6.31% $10,302
    CORNERSTONE HOME LENDING, INC. 2 6.13% $4,949
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.44% $5,789
    USAA Federal Savings Bank 2 6.69% $3,153
    KITSAP Credit Union 2 5.44% $21,764
    Wells Fargo Bank 1 6.13% $0
    AMCAP MORTGAGE, LTD. 1 6.63% $18,577
    AMERICAN FINANCIAL NETWORK, INC. 1 6.13% $16,481
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $5,315
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.13% $12,717
    AmeriHome Mortgage Company, LLC 1 6.13% $9,210
    Bank of America 1 6.38% $5,772
    BROKER SOLUTIONS, INC. 1 6.75% $19,943
    Equity Prime Mortgage LLC 1 7.25% $9,122
    GENEVA FINANCIAL, LLC 1 5.63% $20,058
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.13% $8,243
    HomeStreet Bank 1 5.63% $26,604
    Ixonia Bank 1 6.38% $23,930
    LAND HOME FINANCIAL SERVICES, INC. 1 7.38% $18,714
    MLD MORTGAGE INC. 1 6.50% $32,186
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $12,953
    PENNYMAC LOAN SERVICES, LLC 1 7.25% $19,311
    PLANET HOME LENDING, LLC 1 6.38% $2,844
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.75% $20,092
    SOUTHWEST STAGE FUNDING, LLC 1 6.38% $16,499
    UNION HOME MORTGAGE CORP. 1 7.75% $4,370
    U.S. Bank 1 6.50% $14,422
    1st Security Bank of Washington 1 5.75% $10,681

    The top Shelton VA lender as defined by loan originations is Mortgage Research Center, LLC, with 23 VA loans originated. Their average total fees are $8,322, which is $256 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Shelton VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($8,322), UNITED WHOLESALE MORTGAGE, LLC ($8,578), NAVY FEDERAL CREDIT UNION ($10,047), QUICKEN LOANS, LLC ($10,484) and ACADEMY MORTGAGE CORPORATION ($12,961).

    The lowest rate Shelton VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.87%), QUICKEN LOANS, LLC (5.97%), UNITED WHOLESALE MORTGAGE, LLC (6.06%), ACADEMY MORTGAGE CORPORATION (6.48%) and Mortgage Research Center, LLC (6.80%).

    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.