Spokane VA Loans

SPOKANE-SPOKANE VALLEY, 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 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.

    Spokane's 170 lenders originated 3,704 VA loans during 2021. The total origination value was $1,163,840,000, with an average VA loan value of $314,212.

    Spokane VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Spokane averaged 5.61% 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 5.62% and one month ago for the week of 2022-04-15, the average rate was 5.19%.

    The average rate one year ago was 3.08%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.16%.

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

    Spokane 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 Spokane level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    QUICKEN LOANS, LLC 282 2.41% $6,329
    FREEDOM MORTGAGE CORPORATION 269 2.43% $2,757
    Mortgage Research Center, LLC 242 2.79% $7,406
    PENNYMAC LOAN SERVICES, LLC 145 2.41% $5,504
    UNITED WHOLESALE MORTGAGE, LLC 124 2.51% $6,868
    CALIBER HOME LOANS, INC. 124 2.52% $5,291
    GUILD MORTGAGE COMPANY 120 2.53% $6,249
    LOANDEPOT.COM, LLC 97 2.47% $4,838
    NEW DAY FINANCIAL, LLC 83 2.79% $7,869
    LAKEVIEW LOAN SERVICING, LLC 80 2.45% $2,451
    USAA Federal Savings Bank 79 2.86% $4,588
    HOMEBRIDGE FINANCIAL SERVICES, INC. 69 2.62% $8,848
    NAVY FEDERAL CREDIT UNION 56 2.43% $7,624
    The Federal Savings Bank 52 2.49% $7,601
    CELEBRITY HOME LOANS, LLC 48 3.22% $9,746
    Sunflower Bank 45 2.88% $9,720
    Mr. Cooper ( Nationstar Mortgage ) 41 2.72% $3,659
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 41 2.86% $9,499
    Flagstar Bank, FSB 40 2.70% $5,451
    LEADERONE FINANCIAL CORPORATION 40 2.76% $7,024
    Wheatland Bank 37 2.98% $8,382
    HOMESIDE FINANCIAL, LLC 34 2.86% $8,034
    Glacier Bank 34 2.65% $6,570
    HOME POINT FINANCIAL CORPORATION 32 2.29% $4,857
    AMERICAN PACIFIC MORTGAGE CORPORATION 29 2.82% $10,790
    SUMMIT FUNDING, INC. 29 3.22% $9,106
    DHI MORTGAGE COMPANY, LTD. 29 2.50% $8,193
    Umpqua Bank 28 2.67% $7,882
    MOVEMENT MORTGAGE, LLC 27 2.94% $5,968
    Willamette Valley Bank 26 2.89% $10,220
    Wells Fargo Bank 25 2.52% $4,231
    ENVOY MORTGAGE, LTD 25 2.96% $8,449
    HomeStreet Bank 24 2.72% $8,499
    Banner Bank 24 2.37% $6,419
    PREMIER MORTGAGE RESOURCES, L.L.C. 23 2.84% $9,148
    BROKER SOLUTIONS, INC. 23 2.52% $5,287
    VILLAGE CAPITAL & INVESTMENT LLC 23 2.32% $2,284
    PENRITH HOME LOANS LLC 23 2.77% $8,924
    AMERICAN FINANCIAL NETWORK, INC. 22 2.41% $8,873
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 20 2.79% $5,165
    CHURCHILL MORTGAGE CORPORATION 20 2.56% $6,783
    CHERRY CREEK MORTGAGE, LLC 19 2.61% $5,972
    SUN WEST MORTGAGE COMPANY, INC. 19 2.35% $3,763
    Washington Trust Bank 18 2.59% $5,297
    Sierra Pacific Mortgage Company, Inc. 18 2.63% $7,118
    NEWREZ LLC 18 2.76% $4,515
    NUMERICA CREDIT UNION 17 2.71% $8,309
    GLOBAL 17 2.49% $2,381
    PRIORITY HOME LENDING, LLC 17 2.81% $10,161
    NBKC BANK 17 2.54% $6,980
    PLANET HOME LENDING, LLC 16 2.45% $2,430
    GUARANTEED RATE, INC. 16 2.54% $5,081
    MANN FINANCIAL INC. 16 3.02% $7,199
    North American Savings Bank, F.S.B. 15 2.37% $6,285
    Northpointe Bank 14 2.96% $3,586
    CROSSCOUNTRY MORTGAGE, LLC 14 2.76% $6,348
    STEARNS LENDING, LLC 13 2.38% $5,909
    ACADEMY MORTGAGE CORPORATION 12 3.15% $6,006
    GENEVA FINANCIAL, LLC 12 2.93% $6,926
    AMERISAVE MORTGAGE CORPORATION 10 2.50% $8,559
    FINANCE OF AMERICA MORTGAGE LLC 10 2.71% $4,724
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 10 3.32% $9,270
    PENTAGON FEDERAL CREDIT UNION 10 2.30% $2,498
    Paramount Residential Mortgage Group, Inc. 10 2.99% $7,169
    Barrington Bank & Trust Company, N.A. 9 2.77% $3,699
    CMG MORTGAGE, INC. 9 2.69% $7,695
    SOVEREIGN LENDING GROUP INCORPORATED 9 2.56% $4,897
    MUTUAL OF OMAHA MORTGAGE, INC. 9 2.42% $3,535
    Magnolia Bank 8 2.70% $12,555
    AMERICAN FINANCING CORPORATION 7 2.41% $6,773
    Carrington Mortgage Services, LLC 7 3.05% $7,965
    NP, Inc. 7 2.25% $3,469
    LAND HOME FINANCIAL SERVICES, INC. 6 3.02% $10,347
    ACCELERATE MORTGAGE, LLC 6 2.29% $6,089
    DIRECTORS MORTGAGE, INC. 5 2.90% $17,291
    Platinum Home Mortgage Corporation 5 2.90% $5,675
    PREMIER LENDING, INC. 5 2.78% $7,198
    Armed Forces Bank 5 2.48% $3,969
    CONTOUR MORTGAGE CORPORATION 5 2.25% $3,431
    First Federal Bank 5 2.90% $14,840
    Low VA Rates, LLC 5 2.40% $10,135
    First Home Bank 4 2.50% $3,198
    Gateway First Bank 4 2.88% $6,150
    LADERA LENDING, INC. 4 2.50% $6,500
    Lakeview Community Capital, LLC 4 2.44% $4,022
    Mid-Continent Funding, Inc. 4 2.63% $6,676
    BAY EQUITY LLC 4 2.75% $10,396
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 3.06% $15,962
    S1L, Inc. 4 3.16% $11,215
    Servion, Inc. 4 3.16% $7,157
    Wallick & Volk, Inc. 4 3.19% $12,378
    First Guaranty Mortgage Corporation 4 2.59% $2,787
    LIBERTY HOME MORTGAGE CORPORATION 3 2.67% $5,510
    IDAHO CENTRAL 3 2.67% $7,424
    1st Security Bank of Washington 3 3.13% $19,167
    NETWORK CAPITAL FUNDING CORPORATION 3 2.50% $5,266
    PHH Mortgage Corporation 3 2.88% $3,178
    LENDUS, LLC 3 2.46% $3,185
    KELLER MORTGAGE, LLC 3 2.63% $4,166
    InterContinental Capital Group, Inc 3 2.50% $11,330
    TJC Mortgage, Inc. 3 2.33% $1,844
    LOANPAL, LLC 3 2.33% $6,523
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 2.63% $5,224
    Commerce Home Mortgage, Inc. 3 2.92% $4,059
    First Interstate Bank 3 2.54% $5,069
    NATIONS DIRECT MORTGAGE, LLC 3 2.71% $7,942
    Nations Lending Corporation 3 2.96% $8,402
    Columbia State Bank 3 2.54% $8,061
    JPMorgan Chase Bank 2 2.44% $10,007
    ZILLOW HOME LOANS, LLC 2 2.38% $4,284
    Alaska USA Mortgage Company LLC 2 2.81% $4,232
    INTERCAP LENDING INC. 2 2.31% $1,894
    NBH Bank 2 2.56% $6,113
    EVERETT FINANCIAL, INC. 2 2.63% $18,821
    PLAZA HOME MORTGAGE, INC. 2 2.38% $2,431
    Wyndham Capital Mortgage, Inc. 2 2.50% $1,933
    Alaska USA Federal Credit Union 2 2.81% $4,232
    Strong Home Mortgage, LLC 2 2.50% $1,487
    First Savings Bank 2 2.56% $6,111
    Amerifirst Financial, Inc. 2 2.31% $2,570
    The Central Trust Bank 2 2.31% $4,213
    Truist Bank 2 2.73% $1,671
    First Mortgage Solutions, LLC 2 2.19% $7,538
    AMERICAN FINANCIAL RESOURCES, INC. 2 2.75% $7,329
    U.S. Bank 2 2.81% $2,971
    First Federal Bank of Kansas City 2 2.38% $8,770
    Credence Funding Corporation 2 2.00% $5,652
    Neighborhood Loans, Inc. 1 2.38% $11,612
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 3.25% $22,470
    UNION HOME MORTGAGE CORP. 1 2.25% $3,641
    Meridian Bank Corporation 1 2.25% $5,424
    Watermark Capital, Inc. 1 2.25% $1,184
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.75% $6,512
    AMERICAN ADVISORS GROUP 1 2.88% $3,798
    FirstBank 1 2.25% $949
    Bank of England 1 2.88% $4,091
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 2.88% $3,962
    INTELLILOAN, INC. 1 2.63% $28,957
    SECURITYNATIONAL MORTGAGE COMPANY 1 3.75% $4,606
    First Internet Bank of Indiana 1 2.25% $3,878
    FIRST COMMUNITY MORTGAGE, INC. 1 2.63% $5,068
    Florida Capital Bank 1 2.25% $4,246
    STARBOARD FINANCIAL MANAGEMENT, LLC 1 3.25% $18,910
    First State Bank of St. Charles, Missouri 1 2.63% $3,555
    MASON MCDUFFIE MORTGAGE CORPORATION 1 2.38% $3,990
    Community First National Bank 1 2.38% $2,042
    SUMMIT MORTGAGE CORPORATION 1 2.50% $3,479
    AMCAP MORTGAGE, LTD. 1 3.25% $23,587
    CORNERSTONE HOME LENDING, INC. 1 3.25% $3,385
    KS StateBank 1 2.25% $8,204
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 2.25% $2,694
    The Huntington National Bank 1 2.50% $1,770
    The Union Bank Company 1 2.38% $11,328
    TIAA, FSB 1 2.25% $12,827
    MORTGAGE MASTER SERVICE CORPORATION 1 2.25% $10,096
    MICHIGAN MUTUAL, INC. 1 2.50% $10,026
    CALCULATED RISK ANALYTICS LLC 1 2.50% $4,326
    NexBank 1 2.38% $23,820
    Hometown Equity Mortgage, LLC 1 3.13% $3,196
    DHA FINANCIAL, LLC 1 3.13% $14,939
    EMM LOANS LLC 1 3.00% $8,310
    Boeing Employees Credit Union 1 3.13% $10,232
    OCMBC, INC. 1 2.88% $12,446
    ON Q FINANCIAL, INC. 1 2.75% $2,288
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 2.63% $10,241
    BNC National Bank 1 2.88% $12,351
    BKCO MORTGAGE, LLC 1 2.99% $2,290
    Manufacturers and Traders Trust Company 1 3.50% $9,794
    Peoples Bank 1 3.00% $11,514
    HORIZON 1 2.63% $3,984

    The top Spokane VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 282 VA loans originated. Their average total fees are $6,329, which is $3,572 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

    The lowest fee Spokane VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,284), GLOBAL ($2,381), PLANET HOME LENDING, LLC ($2,430), LAKEVIEW LOAN SERVICING, LLC ($2,451) and PENTAGON FEDERAL CREDIT UNION ($2,498).

    The lowest rate Spokane VA lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION (2.29%), PENTAGON FEDERAL CREDIT UNION (2.30%), VILLAGE CAPITAL & INVESTMENT LLC (2.32%), SUN WEST MORTGAGE COMPANY, INC. (2.35%) and North American Savings Bank, F.S.B. (2.37%).

    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.