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 28 lenders originated 58 VA loans during 2023. The total origination value was $17,530,000, with an average VA loan value of $302,241.

Watertown VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Watertown averaged 6.95% for the week of 2024-05-24, compared to the national average (all VA variants) of 6.567% for the same period.

Watertown's average VA mortgage closing costs are $5,346.

The average rate for the prior week (2024-05-17) was 6.77% and one month ago for the week of 2024-04-19, the average rate was 6.84%.

The average rate one year ago was 6.21%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.67%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 13 6.55% $10,182
UNITED WHOLESALE MORTGAGE, LLC 4 5.92% $8,661
FREEDOM MORTGAGE CORPORATION 4 6.63% $22,205
USAA Federal Savings Bank 3 5.83% $16,680
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.92% $3,563
Mr. Cooper ( Nationstar Mortgage ) 2 6.00% $24,277
LOANDEPOT.COM, LLC 2 5.99% $12,767
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.25% $1,893
GUARANTEED RATE, INC. 2 6.56% $6,320
NAVY FEDERAL CREDIT UNION 2 5.75% $9,806
Johnson Bank 1 6.75% $2,474
MOVEMENT MORTGAGE, LLC 1 6.75% $8,936
NEW DAY FINANCIAL, LLC 1 7.99% $8,733
NEWREZ LLC 1 6.75% $11,593
PLANET HOME LENDING, LLC 1 6.38% $9,945
QUICKEN LOANS, LLC 1 5.99% $14,550
V.I.P. MORTGAGE, INC. 1 5.13% $3,884
American Mortgage & Equity Consultants, Inc. 1 6.13% $620
Wells Fargo Bank 1 6.50% $7,815
Bank Five Nine 1 7.25% $9,900
Barrington Bank & Trust Company, N.A. 1 6.75% $9,324
CARDINAL FINANCIAL 1 6.25% $7,219
CHERRY CREEK MORTGAGE, LLC 1 6.75% $649
CMG MORTGAGE, INC. 1 6.75% $8,718
CORNERSTONE HOME LENDING, INC. 1 6.25% $8,613
CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $4,811
Equity Prime Mortgage LLC 1 7.75% $4,493
Ixonia Bank 1 6.13% $4,046

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 $10,182, which is $1,521 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Watertown VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($10,182), .

The lowest rate Watertown VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.55%), .


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%) $294,932 (5.1%) 0.00 267
2018-02-01 $260,000 (8.4%) $311,271 (13.8%) 0.00 267
2018-03-01 $264,950 (8.4%) $322,410 (17.4%) 0.00 296
2018-04-01 $260,000 (6.2%) $322,261 (16.4%) 0.00 317
2018-05-01 $272,300 (12.4%) $338,488 (22.9%) 0.00 320
2018-06-01 $269,900 (10.2%) $338,751 (20.1%) 0.00 316
2018-07-01 $265,000 (9.1%) $322,941 (15.0%) 0.00 337
2018-08-01 $265,000 (8.2%) $321,684 (12.0%) 0.00 363
2018-09-01 $264,950 (6.0%) $314,887 (8.1%) 0.00 363
2018-10-01 $265,000 (6.0%) $322,270 (7.6%) 0.00 344
2018-11-01 $265,000 (6.0%) $316,604 (6.1%) 0.00 316
2018-12-01 $265,000 (6.0%) $314,542 (6.1%) 0.00 289
2019-01-01 $265,000 (6.0%) $313,385 (6.3%) 0.00 259
2019-02-01 $265,000 (1.9%) $316,327 (1.6%) 0.00 249
2019-03-01 $270,336 (2.0%) $325,084 (0.8%) 0.00 261
2019-04-01 $279,425 (7.5%) $344,816 (7.0%) 0.00 291
2019-05-01 $280,000 (2.8%) $344,990 (1.9%) 0.00 303
2019-06-01 $279,900 (3.7%) $345,268 (1.9%) 0.00 323
2019-07-01 $269,900 (1.9%) $329,229 (2.0%) 0.00 354
2019-08-01 $269,927 (1.9%) $331,249 (3.0%) 0.00 357
2019-09-01 $269,968 (1.9%) $330,617 (5.0%) 0.00 356
2019-10-01 $270,000 (1.9%) $331,016 (2.7%) 0.00 348
2019-11-01 $259,900 (-1.9%) $315,689 (-0.3%) 0.00 314
2019-12-01 $262,500 (-0.9%) $310,831 (-1.2%) 0.00 268
2020-01-01 $265,000 (0.0%) $317,417 (1.3%) 0.00 231
2020-02-01 $269,950 (1.9%) $320,781 (1.4%) 0.00 249
2020-03-01 $279,675 (3.5%) $319,828 (-1.6%) 0.00 267
2020-04-01 $280,000 (0.2%) $316,304 (-8.3%) 0.00 239
2020-05-01 $280,000 (0.0%) $313,973 (-9.0%) 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 (6.6%) 0.00 209
2020-12-01 $278,725 (6.2%) $338,994 (9.1%) 0.00 180
2021-01-01 $289,900 (9.4%) $350,807 (10.5%) 0.00 127
2021-02-01 $289,900 (7.4%) $349,327 (8.9%) 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%) $406,755 (19.5%) 0.00 184
2022-07-01 $336,600 (12.2%) $403,466 (19.7%) 0.00 191
2022-08-01 $339,300 (17.2%) $399,150 (19.7%) 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%) $412,293 (12.4%) 0.00 109
2023-06-01 $362,450 (6.6%) $410,752 (1.0%) 0.00 128
2023-07-01 $360,000 (7.0%) $412,727 (2.3%) 0.00 132
2023-08-01 $354,950 (4.6%) $414,694 (3.9%) 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
2023-11-01 $349,950 (4.0%) $429,813 (10.2%) 0.00 145
2023-12-01 $357,450 (6.7%) $432,950 (11.8%) 0.00 122
2024-01-01 $362,475 (7.4%) $444,766 (12.8%) 0.00 99
2024-02-01 $352,450 (3.0%) $424,122 (4.1%) 0.00 94
2024-03-01 $369,450 (4.8%) $440,854 (8.4%) 0.00 105
2024-04-01 $373,450 (1.8%) $446,602 (6.6%) 0.00 111
Watertown's median listing price for 2024-04-01 was $373,450, a difference of $6,450 (1.8%) versus the prior year and $4,000 versus the prior month.

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

Watertown's average listing price for 2024-04-01 was $446,602, a difference of $27,698 (6.6%) versus the prior year and $5,748 versus the prior month.

For the 2024-04-01 period, Watertown had 111 MLS listings, a difference of 6 listings (6%) versus the prior month and 9 listings (9%) 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 1,854 sqft
2018-05-01 0 days 1,940 sqft
2018-06-01 0 days 1,944 sqft
2018-07-01 0 days 1,875 sqft
2018-08-01 0 days 1,876 sqft
2018-09-01 0 days 1,832 sqft
2018-10-01 0 days 1,890 sqft
2018-11-01 0 days 1,882 sqft
2018-12-01 0 days 1,803 sqft
2019-01-01 0 days 1,802 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 1,909 sqft
2019-06-01 0 days 1,929 sqft
2019-07-01 0 days 1,905 sqft
2019-08-01 0 days 1,936 sqft
2019-09-01 0 days 1,961 sqft
2019-10-01 0 days 1,990 sqft
2019-11-01 0 days 1,824 sqft
2019-12-01 0 days 1,806 sqft
2020-01-01 0 days 1,837 sqft
2020-02-01 0 days 1,830 sqft
2020-03-01 0 days 1,807 sqft
2020-04-01 0 days 1,903 sqft
2020-05-01 0 days 1,861 sqft
2020-06-01 0 days 1,859 sqft
2020-07-01 0 days 1,856 sqft
2020-08-01 0 days 1,806 sqft
2020-09-01 0 days 1,893 sqft
2020-10-01 0 days 1,815 sqft
2020-11-01 0 days 1,791 sqft
2020-12-01 0 days 1,755 sqft
2021-01-01 0 days 1,792 sqft
2021-02-01 0 days 1,753 sqft
2021-03-01 0 days 1,800 sqft
2021-04-01 0 days 1,804 sqft
2021-05-01 0 days 1,878 sqft
2021-06-01 0 days 1,903 sqft
2021-07-01 0 days 1,885 sqft
2021-08-01 0 days 1,805 sqft
2021-09-01 0 days 1,864 sqft
2021-10-01 0 days 1,826 sqft
2021-11-01 0 days 1,742 sqft
2021-12-01 0 days 1,841 sqft
2022-01-01 0 days 1,897 sqft
2022-02-01 0 days 1,926 sqft
2022-03-01 0 days 1,785 sqft
2022-04-01 0 days 1,800 sqft
2022-05-01 0 days 1,930 sqft
2022-06-01 0 days 1,898 sqft
2022-07-01 0 days 1,900 sqft
2022-08-01 0 days 1,891 sqft
2022-09-01 0 days 1,896 sqft
2022-10-01 0 days 1,964 sqft
2022-11-01 0 days 1,918 sqft
2022-12-01 0 days 1,880 sqft
2023-01-01 0 days 1,835 sqft
2023-02-01 0 days 1,804 sqft
2023-03-01 0 days 1,795 sqft
2023-04-01 0 days 1,806 sqft
2023-05-01 0 days 1,852 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
2023-11-01 0 days 1,930 sqft
2023-12-01 0 days 1,896 sqft
2024-01-01 0 days 1,849 sqft
2024-02-01 0 days 1,843 sqft
2024-03-01 0 days 1,874 sqft
2024-04-01 0 days 1,792 sqft
Watertown's median listing age (time on market) for 2024-04-01 was 0 days.

Watertown's median square footage for active listings during the 2024-04-01 period was 1,792 sqft. One year prior, the average listing was 1,806 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.