Watertown VA Loan Rates, Closing Costs & Stats

Watertown-Fort Atkinson, WI

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.

Watertown's 43 lenders originated 88 VA loans during 2022. The total origination value was $24,690,000, with an average VA loan value of $280,568.

Watertown VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Watertown averaged -0.29% for the week of 2023-11-24, compared to the national average (all VA variants) of 0% for the same period.

Watertown's average VA mortgage closing costs are $5,026.

The average rate for the prior week (2023-11-17) was 6.86% and one month ago for the week of 2023-10-20, the average rate was 7.29%.

The average rate one year ago was 6.4%.

For refis of the same type during the week of 2023-11-24, the average rate was -1.02%.

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

Watertown 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 Watertown level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 13 5.51% $7,859
QUICKEN LOANS, LLC 8 4.22% $9,475
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 5.05% $6,650
FREEDOM MORTGAGE CORPORATION 4 4.25% $8,375
Mr. Cooper ( Nationstar Mortgage ) 3 4.04% $5,889
UNITED WHOLESALE MORTGAGE, LLC 3 5.69% $5,620
USAA Federal Savings Bank 3 5.50% $4,100
HOME POINT FINANCIAL CORPORATION 3 5.12% $7,216
GUARANTEED RATE, INC. 2 3.81% $7,012
FINANCE OF AMERICA MORTGAGE LLC 2 4.25% $5,541
CARDINAL FINANCIAL 2 4.44% $14,457
Mid-Continent Funding, Inc. 2 4.31% $8,176
LOANDEPOT.COM, LLC 2 5.38% $5,602
Bank of England 2 7.00% $8,241
BROKER SOLUTIONS, INC. 2 4.69% $9,253
Paramount Residential Mortgage Group, Inc. 2 5.06% $3,429
PENNYMAC LOAN SERVICES, LLC 2 4.19% $10,255
CROSSCOUNTRY MORTGAGE, LLC 2 5.59% $13,176
PLANET HOME LENDING, LLC 1 3.25% $10,199
Summit Mortgage Corporation 1 6.75% $5,282
The Federal Savings Bank 1 2.75% $1,292
THOMPSON KANE & COMPANY, LLC 1 5.75% $17,401
VILLAGE CAPITAL MORTGAGE 1 2.75% $4,968
Waukesha State Bank 1 4.75% $2,963
AMERICAN FINANCIAL RESOURCES, INC. 1 5.63% $9,147
ZILLOW HOME LOANS, LLC 1 4.88% $10,352
A + MORTGAGE SERVICES, INC. 1 4.99% $18,895
Associated Bank 1 3.75% $8,593
Barrington Bank & Trust Company, N.A. 1 4.75% $15,191
Century Mortgage Company DBA Century Lending Company 1 5.13% $3,840
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 3.63% $2,273
FIRST CENTENNIAL MORTGAGE CORPORATION 1 3.75% $1,255
GUILD MORTGAGE COMPANY 1 5.13% $12,631
INLANTA MORTGAGE, INC. 1 5.63% $2,605
LAKEVIEW LOAN SERVICING, LLC 1 3.25% $2,963
LOANPAL, LLC 1 4.88% $9,028
Low VA Rates, LLC 1 5.75% $13,895
Magnolia Bank 1 4.75% $21,953
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.25% $14,558
Nations Lending Corporation 1 4.00% $4,758
NAVY FEDERAL CREDIT UNION 1 4.50% $14,884
NEW DAY FINANCIAL, LLC 1 3.99% $11,880
NEWREZ LLC 1 6.38% $10,080

The top Watertown VA lender as defined by loan originations is Mortgage Research Center, LLC, with 13 VA loans originated. Their average total fees are $7,859, which is $1,616 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Watertown VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,859), .

The lowest rate Watertown VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (5.51%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Watertown (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 $249,900 (4.6%) $295,538 (5.3%) 0.00 268
2018-02-01 $260,000 (8.4%) $311,827 (14.0%) 0.00 268
2018-03-01 $265,000 (8.4%) $322,869 (17.6%) 0.00 297
2018-04-01 $260,000 (6.2%) $322,708 (16.6%) 0.00 318
2018-05-01 $272,300 (12.4%) $338,598 (23.0%) 0.00 321
2018-06-01 $269,900 (10.2%) $338,552 (20.1%) 0.00 317
2018-07-01 $265,000 (8.6%) $322,442 (14.8%) 0.00 338
2018-08-01 $265,000 (8.2%) $321,228 (11.7%) 0.00 364
2018-09-01 $264,900 (6.0%) $314,462 (7.8%) 0.00 364
2018-10-01 $265,000 (6.0%) $321,649 (7.2%) 0.00 346
2018-11-01 $265,000 (6.0%) $315,820 (5.7%) 0.00 318
2018-12-01 $265,000 (6.0%) $313,684 (5.6%) 0.00 291
2019-01-01 $265,000 (6.0%) $312,420 (5.7%) 0.00 261
2019-02-01 $265,000 (1.9%) $316,327 (1.4%) 0.00 249
2019-03-01 $270,336 (2.0%) $325,084 (0.7%) 0.00 261
2019-04-01 $278,725 (7.2%) $344,634 (6.8%) 0.00 291
2019-05-01 $280,000 (2.8%) $344,719 (1.8%) 0.00 303
2019-06-01 $279,900 (3.7%) $345,268 (2.0%) 0.00 323
2019-07-01 $269,900 (1.9%) $329,229 (2.1%) 0.00 354
2019-08-01 $269,927 (1.9%) $331,237 (3.1%) 0.00 357
2019-09-01 $269,968 (1.9%) $330,587 (5.1%) 0.00 358
2019-10-01 $270,000 (1.9%) $330,969 (2.9%) 0.00 350
2019-11-01 $259,900 (-1.9%) $316,034 (0.1%) 0.00 315
2019-12-01 $262,500 (-0.9%) $311,192 (-0.8%) 0.00 269
2020-01-01 $265,000 (0.0%) $317,768 (1.7%) 0.00 232
2020-02-01 $270,000 (1.9%) $321,106 (1.5%) 0.00 250
2020-03-01 $279,675 (3.5%) $319,828 (-1.6%) 0.00 267
2020-04-01 $280,000 (0.5%) $316,304 (-8.2%) 0.00 239
2020-05-01 $280,000 (0.0%) $313,973 (-8.9%) 0.00 237
2020-06-01 $280,000 (0.0%) $306,961 (-11.1%) 0.00 260
2020-07-01 $280,000 (3.7%) $327,187 (-0.6%) 0.00 262
2020-08-01 $279,000 (3.4%) $331,048 (-0.1%) 0.00 258
2020-09-01 $270,000 (0.0%) $337,667 (2.1%) 0.00 240
2020-10-01 $270,000 (0.0%) $339,175 (2.5%) 0.00 228
2020-11-01 $269,975 (3.9%) $336,388 (6.4%) 0.00 209
2020-12-01 $278,725 (6.2%) $338,994 (8.9%) 0.00 180
2021-01-01 $289,900 (9.4%) $350,807 (10.4%) 0.00 127
2021-02-01 $289,900 (7.4%) $349,327 (8.8%) 0.00 119
2021-03-01 $298,850 (6.9%) $348,832 (9.1%) 0.00 131
2021-04-01 $293,575 (4.9%) $334,509 (5.8%) 0.00 172
2021-05-01 $325,000 (16.1%) $349,587 (11.3%) 0.00 167
2021-06-01 $309,475 (10.5%) $340,361 (10.9%) 0.00 181
2021-07-01 $299,900 (7.1%) $337,149 (3.0%) 0.00 201
2021-08-01 $289,450 (3.8%) $333,535 (0.8%) 0.00 205
2021-09-01 $295,800 (9.6%) $338,682 (0.3%) 0.00 215
2021-10-01 $299,900 (11.1%) $355,189 (4.7%) 0.00 212
2021-11-01 $281,950 (4.4%) $334,277 (-0.6%) 0.00 180
2021-12-01 $278,725 (0.0%) $339,312 (0.1%) 0.00 148
2022-01-01 $299,450 (3.3%) $351,720 (0.3%) 0.00 119
2022-02-01 $335,000 (15.6%) $369,940 (5.9%) 0.00 115
2022-03-01 $335,000 (12.1%) $363,197 (4.1%) 0.00 111
2022-04-01 $332,450 (13.2%) $352,429 (5.4%) 0.00 132
2022-05-01 $335,000 (3.1%) $366,892 (5.0%) 0.00 163
2022-06-01 $339,900 (9.8%) $406,854 (19.5%) 0.00 185
2022-07-01 $336,600 (12.2%) $403,672 (19.7%) 0.00 191
2022-08-01 $338,075 (16.8%) $398,897 (19.6%) 0.00 205
2022-09-01 $340,000 (14.9%) $394,525 (16.5%) 0.00 179
2022-10-01 $345,950 (15.4%) $401,323 (13.0%) 0.00 160
2022-11-01 $336,375 (19.3%) $390,125 (16.7%) 0.00 140
2022-12-01 $335,000 (20.2%) $387,391 (14.2%) 0.00 105
2023-01-01 $337,450 (12.7%) $394,230 (12.1%) 0.00 107
2023-02-01 $342,100 (2.1%) $407,518 (10.2%) 0.00 92
2023-03-01 $352,475 (5.2%) $406,758 (12.0%) 0.00 99
2023-04-01 $367,000 (10.4%) $418,904 (18.9%) 0.00 102
2023-05-01 $365,000 (9.0%) $411,911 (12.3%) 0.00 110
2023-06-01 $362,450 (6.6%) $410,752 (1.0%) 0.00 128
2023-07-01 $360,000 (7.0%) $412,727 (2.2%) 0.00 132
2023-08-01 $354,950 (5.0%) $414,694 (4.0%) 0.00 140
2023-09-01 $360,000 (5.9%) $426,256 (8.0%) 0.00 148
2023-10-01 $349,900 (1.1%) $416,697 (3.8%) 0.00 148
Watertown's median listing price for 2023-10-01 was $349,900, a difference of $3,950 (1.1%) versus the prior year and $-10,100 versus the prior month.

Watertown's median listing price comes in at 0% of the national average.

Watertown's average listing price for 2023-10-01 was $416,697, a difference of $15,374 (3.8%) versus the prior year and $-9,559 versus the prior month.

For the 2023-10-01 period, Watertown had 148 MLS listings, a difference of 0 listings (0%) versus the prior month and -12 listings (-8%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Watertown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,720 sqft
2018-02-01 0 days 1,814 sqft
2018-03-01 0 days 1,849 sqft
2018-04-01 0 days 1,855 sqft
2018-05-01 0 days 1,947 sqft
2018-06-01 0 days 1,938 sqft
2018-07-01 0 days 1,873 sqft
2018-08-01 0 days 1,875 sqft
2018-09-01 0 days 1,820 sqft
2018-10-01 0 days 1,881 sqft
2018-11-01 0 days 1,853 sqft
2018-12-01 0 days 1,800 sqft
2019-01-01 0 days 1,800 sqft
2019-02-01 0 days 1,800 sqft
2019-03-01 0 days 1,874 sqft
2019-04-01 0 days 1,948 sqft
2019-05-01 0 days 1,908 sqft
2019-06-01 0 days 1,913 sqft
2019-07-01 0 days 1,905 sqft
2019-08-01 0 days 1,938 sqft
2019-09-01 0 days 1,965 sqft
2019-10-01 0 days 1,993 sqft
2019-11-01 0 days 1,824 sqft
2019-12-01 0 days 1,815 sqft
2020-01-01 0 days 1,841 sqft
2020-02-01 0 days 1,835 sqft
2020-03-01 0 days 1,812 sqft
2020-04-01 0 days 1,904 sqft
2020-05-01 0 days 1,855 sqft
2020-06-01 0 days 1,861 sqft
2020-07-01 0 days 1,858 sqft
2020-08-01 0 days 1,806 sqft
2020-09-01 0 days 1,884 sqft
2020-10-01 0 days 1,815 sqft
2020-11-01 0 days 1,787 sqft
2020-12-01 0 days 1,754 sqft
2021-01-01 0 days 1,784 sqft
2021-02-01 0 days 1,753 sqft
2021-03-01 0 days 1,801 sqft
2021-04-01 0 days 1,804 sqft
2021-05-01 0 days 1,874 sqft
2021-06-01 0 days 1,902 sqft
2021-07-01 0 days 1,867 sqft
2021-08-01 0 days 1,811 sqft
2021-09-01 0 days 1,867 sqft
2021-10-01 0 days 1,817 sqft
2021-11-01 0 days 1,748 sqft
2021-12-01 0 days 1,839 sqft
2022-01-01 0 days 1,890 sqft
2022-02-01 0 days 1,915 sqft
2022-03-01 0 days 1,783 sqft
2022-04-01 0 days 1,800 sqft
2022-05-01 0 days 1,930 sqft
2022-06-01 0 days 1,895 sqft
2022-07-01 0 days 1,900 sqft
2022-08-01 0 days 1,891 sqft
2022-09-01 0 days 1,880 sqft
2022-10-01 0 days 1,970 sqft
2022-11-01 0 days 1,917 sqft
2022-12-01 0 days 1,880 sqft
2023-01-01 0 days 1,844 sqft
2023-02-01 0 days 1,802 sqft
2023-03-01 0 days 1,795 sqft
2023-04-01 0 days 1,806 sqft
2023-05-01 0 days 1,854 sqft
2023-06-01 0 days 1,899 sqft
2023-07-01 0 days 1,900 sqft
2023-08-01 0 days 1,951 sqft
2023-09-01 0 days 1,926 sqft
2023-10-01 0 days 1,936 sqft
Watertown's median listing age (time on market) for 2023-10-01 was 0 days.

Watertown's median square footage for active listings during the 2023-10-01 period was 1,936 sqft. One year prior, the average listing was 1,970 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.