Watertown VA Loan Rates, Closing Costs & Stats

Watertown-Fort Atkinson, WI

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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.

    Watertown's 37 lenders originated 97 VA loans during 2024. The total origination value was $32,805,000, with an average VA loan value of $338,196.

    Watertown VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Watertown averaged 0.28% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Watertown's average VA mortgage closing costs are $5,645.

    The average rate for the prior week (2025-06-13) was 6.93% and one month ago for the week of 2025-05-16, the average rate was 6.79%.

    The average rate one year ago was 7.08%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.17%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 19 6.12% $8,153
    FREEDOM MORTGAGE CORPORATION 8 6.09% $9,727
    QUICKEN LOANS, LLC 6 6.02% $8,884
    UNITED WHOLESALE MORTGAGE, LLC 6 5.67% $9,355
    GUILD MORTGAGE COMPANY 5 6.18% $6,863
    NEWREZ LLC 4 6.09% $4,963
    NAVY FEDERAL CREDIT UNION 3 5.88% $3,927
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.75% $2,587
    USAA Federal Savings Bank 3 6.17% $14,888
    Barrington Bank & Trust Company, N.A. 3 6.75% $8,936
    THOMPSON KANE & COMPANY, LLC 2 6.81% $8,942
    LAKEVIEW LOAN SERVICING, LLC 2 5.50% $5,893
    NEW DAY FINANCIAL, LLC 2 7.87% $8,284
    U.S. Bank 2 5.99% $4,109
    Bank of England 2 6.38% $3,238
    The Federal Savings Bank 2 5.75% $14,906
    Prosperity Home Mortgage, LLC 1 5.75% $4,927
    Servion, Inc. 1 6.75% $12,896
    The Bank of New Glarus 1 6.25% $3,660
    VERITAS FUNDING, LLC 1 6.63% $29,826
    A + MORTGAGE SERVICES, INC. 1 5.75% $2,925
    WISCONSIN MORTGAGE CORPORATION 1 7.75% $11,914
    CARDINAL FINANCIAL 1 6.25% $18,437
    CLEARPATH LENDING 1 5.75% $19,635
    CMG MORTGAGE, INC. 1 7.38% $3,625
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.63% $5,274
    FIRST COLONY MORTGAGE CORPORATION 1 6.25% $13,081
    First Federal Bank 1 7.63% $11,606
    Flagstar Bank, FSB 1 7.25% $9,589
    Granite Community Bank 1 6.50% $8,155
    GUARANTEED RATE, INC. 1 6.18% $9,361
    Ixonia Bank 1 6.75% $4,820
    LEADERONE FINANCIAL CORPORATION 1 6.25% $238
    LOANDEPOT.COM, LLC 1 6.13% $18,869
    Nations Lending Corporation 1 6.25% $11,005
    PENNYMAC LOAN SERVICES, LLC 1 6.25% $3,280
    PNC Bank 1 6.75% $2,506

    The top Watertown VA lender as defined by loan originations is Mortgage Research Center, LLC, with 19 VA loans originated. Their average total fees are $8,153, which is $1,575 lower than the next largest lender, FREEDOM MORTGAGE CORPORATION.

    The lowest fee Watertown VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($8,153), .

    The lowest rate Watertown VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.12%), .

    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.