Watertown VA Loans

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 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 62 lenders originated 238 VA loans during 2021. The total origination value was $58,800,000, with an average VA loan value of $247,059.

Watertown VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Watertown averaged 5.33% for the week of 2022-08-05, compared to the national average (all VA variants) of 5.013% for the same period.

The average rate for the prior week (2022-07-29) was 5.38% and one month ago for the week of 2022-07-01, the average rate was 5.81%.

The average rate one year ago was 2.89%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.06%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Watertown level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 33 2.86% $5,783
FREEDOM MORTGAGE CORPORATION 19 2.41% $2,137
QUICKEN LOANS, LLC 11 2.34% $2,259
USAA Federal Savings Bank 8 2.70% $5,812
LAKEVIEW LOAN SERVICING, LLC 8 2.50% $1,682
PENNYMAC LOAN SERVICES, LLC 6 2.27% $6,692
VILLAGE CAPITAL & INVESTMENT LLC 6 2.27% $2,715
GUARANTEED RATE, INC. 6 2.60% $4,289
LOANDEPOT.COM, LLC 6 2.41% $5,112
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 6 3.13% $7,762
NAVY FEDERAL CREDIT UNION 5 2.48% $4,496
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 2.90% $4,014
NEW DAY FINANCIAL, LLC 5 2.70% $6,528
First Guaranty Mortgage Corporation 4 2.66% $3,646
THOMPSON KANE & COMPANY, LLC 4 2.72% $7,457
The Federal Savings Bank 4 2.66% $6,616
Magnolia Bank 4 2.75% $8,111
Mr. Cooper ( Nationstar Mortgage ) 3 2.83% $3,535
CLEARPATH LENDING 3 2.25% $3,401
Carrington Mortgage Services, LLC 3 2.58% $11,940
UNITED WHOLESALE MORTGAGE, LLC 3 2.45% $8,273
Servion, Inc. 3 2.71% $3,362
NEWREZ LLC 3 2.83% $5,460
MUTUAL OF OMAHA MORTGAGE, INC. 2 3.50% $561
Barrington Bank & Trust Company, N.A. 2 2.63% $3,387
CALIBER HOME LOANS, INC. 2 2.31% $10,870
HOME POINT FINANCIAL CORPORATION 2 2.50% $2,709
INLANTA MORTGAGE, INC. 2 2.88% $8,824
MID AMERICA MORTGAGE, INC. 2 2.50% $2,842
NBKC BANK 2 2.63% $1,805
WISCONSIN MORTGAGE CORPORATION 2 2.69% $2,831
InterContinental Capital Group, Inc 1 2.25% $2,692
FIRST STATE MORTGAGE SERVICES, LLC 1 2.25% $9,431
First Federal Bank of Kansas City 1 2.25% $1,102
FIRST CENTENNIAL MORTGAGE CORPORATION 1 2.50% $1,112
Wells Fargo Bank 1 3.38% $2,112
Equity Prime Mortgage LLC 1 3.75% $1,015
ENVOY MORTGAGE, LTD 1 2.25% $6,140
ACADEMY MORTGAGE CORPORATION 1 2.75% $3,485
Nations Lending Corporation 1 3.13% $9,519
NATIONS RELIABLE LENDING, LLC 1 2.75% $2,790
DAS Acquisition Company, LLC 1 3.25% $0
Wyndham Capital Mortgage, Inc. 1 2.25% $2,188
CROSSCOUNTRY MORTGAGE, LLC 1 2.49% $13,605
CMG MORTGAGE, INC. 1 3.13% $15,614
North American Savings Bank, F.S.B. 1 2.25% $1,502
PARKSIDE LENDING, LLC 1 2.75% $2,979
CHERRY CREEK MORTGAGE, LLC 1 3.13% $4,290
PENTAGON FEDERAL CREDIT UNION 1 2.38% $13,614
Prosperity Home Mortgage, LLC 1 2.88% $7,305
BROKER SOLUTIONS, INC. 1 2.50% $3,241
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $2,273
Bell Bank 1 2.25% $1,918
The Equitable Bank, S.S.B. 1 2.50% $6,356
BAYSHORE MORTGAGE FUNDING, LLC 1 2.38% $2,350
A + MORTGAGE SERVICES, INC. 1 2.38% $2,368
AMERISAVE MORTGAGE CORPORATION 1 2.25% $3,995
GSF Mortgage Corporation 1 2.25% $1,856
GUILD MORTGAGE COMPANY 1 2.88% $9,636
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.63% $11,317
HOMESTEAD FUNDING CORP. 1 2.25% $1,600
AMERICAN FINANCIAL NETWORK, INC. 1 2.25% $5,912

The top Watertown VA lender as defined by loan originations is Mortgage Research Center, LLC, with 33 VA loans originated. Their average total fees are $5,783, which is $3,646 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee Watertown VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,137), QUICKEN LOANS, LLC ($2,259), Mortgage Research Center, LLC ($5,783), .

The lowest rate Watertown VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.34%), FREEDOM MORTGAGE CORPORATION (2.41%), Mortgage Research Center, LLC (2.86%), .


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 $255,000 (8.5%) $317,325 (15.4%) 0.00 271
2018-02-01 $264,950 (12.8%) $331,822 (27.7%) 0.00 263
2018-03-01 $275,000 (19.6%) $350,885 (37.5%) 0.00 272
2018-04-01 $272,250 (11.1%) $343,672 (17.7%) 0.00 259
2018-05-01 $277,450 (12.1%) $370,517 (25.7%) 0.00 231
2018-06-01 $279,000 (11.6%) $362,146 (20.0%) 0.00 258
2018-07-01 $275,000 (7.8%) $349,632 (14.6%) 0.00 288
2018-08-01 $269,900 (4.8%) $342,737 (6.8%) 0.00 343
2018-09-01 $269,900 (2.9%) $332,950 (2.9%) 0.00 342
2018-10-01 $274,950 (5.8%) $339,884 (5.3%) 0.00 335
2018-11-01 $271,400 (8.6%) $331,641 (4.0%) 0.00 334
2018-12-01 $265,000 (3.9%) $319,764 (0.2%) 0.00 298
2019-01-01 $268,000 (5.1%) $329,171 (3.7%) 0.00 259
2019-02-01 $272,900 (3.0%) $341,071 (2.8%) 0.00 225
2019-03-01 $284,471 (3.4%) $354,106 (0.9%) 0.00 251
2019-04-01 $293,021 (7.6%) $364,918 (6.2%) 0.00 319
2019-05-01 $297,400 (7.2%) $376,879 (1.7%) 0.00 242
2019-06-01 $299,900 (7.5%) $391,960 (8.2%) 0.00 256
2019-07-01 $280,000 (1.8%) $376,125 (7.6%) 0.00 274
2019-08-01 $282,100 (4.5%) $375,630 (9.6%) 0.00 287
2019-09-01 $284,550 (5.4%) $373,889 (12.3%) 0.00 304
2019-10-01 $289,900 (5.4%) $376,698 (10.8%) 0.00 282
2019-11-01 $279,900 (3.1%) $359,639 (8.4%) 0.00 264
2019-12-01 $280,000 (5.7%) $357,140 (11.7%) 0.00 227
2020-01-01 $282,450 (5.4%) $364,719 (10.8%) 0.00 206
2020-02-01 $309,900 (13.6%) $373,495 (9.5%) 0.00 198
2020-03-01 $319,900 (12.5%) $386,925 (9.3%) 0.00 200
2020-04-01 $307,400 (4.9%) $369,184 (1.2%) 0.00 166
2020-05-01 $299,900 (0.8%) $357,319 (-5.2%) 0.00 159
2020-06-01 $314,450 (4.9%) $354,558 (-9.5%) 0.00 168
2020-07-01 $314,900 (12.5%) $372,220 (-1.0%) 0.00 173
2020-08-01 $310,000 (9.9%) $392,931 (4.6%) 0.00 172
2020-09-01 $282,500 (-0.7%) $384,692 (2.9%) 0.00 168
2020-10-01 $285,000 (-1.7%) $389,030 (3.3%) 0.00 152
2020-11-01 $307,400 (9.8%) $401,044 (11.5%) 0.00 144
2020-12-01 $289,900 (3.5%) $396,291 (11.0%) 0.00 119
2021-01-01 $314,900 (11.5%) $379,690 (4.1%) 0.00 82
2021-02-01 $327,400 (5.7%) $397,516 (6.4%) 0.00 66
2021-03-01 $335,000 (4.7%) $419,272 (8.4%) 0.00 68
2021-04-01 $349,900 (13.8%) $404,466 (9.6%) 0.00 76
2021-05-01 $350,000 (16.7%) $411,685 (15.2%) 0.00 86
2021-06-01 $349,950 (11.3%) $398,005 (12.3%) 0.00 99
2021-07-01 $341,900 (8.6%) $407,213 (9.4%) 0.00 120
2021-08-01 $312,200 (0.7%) $391,923 (-0.3%) 0.00 126
2021-09-01 $322,450 (14.1%) $396,087 (3.0%) 0.00 137
2021-10-01 $329,900 (15.8%) $417,479 (7.3%) 0.00 136
2021-11-01 $304,000 (-1.1%) $374,517 (-6.6%) 0.00 118
2021-12-01 $327,000 (12.8%) $391,313 (-1.3%) 0.00 98
2022-01-01 $379,500 (20.5%) $411,955 (8.5%) 0.00 86
2022-02-01 $387,400 (18.3%) $412,230 (3.7%) 0.00 71
2022-03-01 $389,900 (16.4%) $409,409 (-2.4%) 0.00 64
2022-04-01 $389,900 (11.4%) $413,230 (2.2%) 0.00 72
2022-05-01 $389,900 (11.4%) $428,711 (4.1%) 0.00 86
2022-06-01 $374,900 (7.1%) $452,955 (13.8%) 0.00 106
Watertown's median listing price for 2022-06-01 was $374,900, a difference of $24,950 (7.1%) versus the prior year and $-15,000 versus the prior month.

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

Watertown's average listing price for 2022-06-01 was $452,955, a difference of $54,950 (13.8%) versus the prior year and $24,244 versus the prior month.

For the 2022-06-01 period, Watertown had 106 MLS listings, a difference of 20 listings (23%) versus the prior month and 7 listings (7%) 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 1,804 sqft
2018-02-01 0 days 1,862 sqft
2018-03-01 0 days 1,992 sqft
2018-04-01 0 days 1,887 sqft
2018-05-01 0 days 1,992 sqft
2018-06-01 0 days 2,000 sqft
2018-07-01 0 days 1,907 sqft
2018-08-01 0 days 1,949 sqft
2018-09-01 0 days 1,832 sqft
2018-10-01 0 days 1,906 sqft
2018-11-01 0 days 1,916 sqft
2018-12-01 0 days 1,800 sqft
2019-01-01 0 days 1,802 sqft
2019-02-01 0 days 1,822 sqft
2019-03-01 0 days 1,974 sqft
2019-04-01 0 days 2,072 sqft
2019-05-01 0 days 2,052 sqft
2019-06-01 0 days 2,086 sqft
2019-07-01 0 days 2,054 sqft
2019-08-01 0 days 2,094 sqft
2019-09-01 0 days 2,149 sqft
2019-10-01 0 days 2,155 sqft
2019-11-01 0 days 2,000 sqft
2019-12-01 0 days 1,955 sqft
2020-01-01 0 days 1,957 sqft
2020-02-01 0 days 1,981 sqft
2020-03-01 0 days 1,981 sqft
2020-04-01 0 days 1,962 sqft
2020-05-01 0 days 1,943 sqft
2020-06-01 0 days 1,928 sqft
2020-07-01 0 days 1,948 sqft
2020-08-01 0 days 1,980 sqft
2020-09-01 0 days 1,945 sqft
2020-10-01 0 days 1,932 sqft
2020-11-01 0 days 2,081 sqft
2020-12-01 0 days 1,916 sqft
2021-01-01 0 days 1,900 sqft
2021-02-01 0 days 1,771 sqft
2021-03-01 0 days 1,902 sqft
2021-04-01 0 days 1,943 sqft
2021-05-01 0 days 1,996 sqft
2021-06-01 0 days 1,996 sqft
2021-07-01 0 days 1,996 sqft
2021-08-01 0 days 1,934 sqft
2021-09-01 0 days 1,978 sqft
2021-10-01 0 days 1,897 sqft
2021-11-01 0 days 1,931 sqft
2021-12-01 0 days 1,996 sqft
2022-01-01 0 days 1,996 sqft
2022-02-01 0 days 1,996 sqft
2022-03-01 0 days 1,977 sqft
2022-04-01 0 days 1,996 sqft
2022-05-01 0 days 1,982 sqft
2022-06-01 0 days 1,882 sqft
Watertown's median listing age (time on market) for 2022-06-01 was 0 days.

Watertown's median square footage for active listings during the 2022-06-01 period was 1,882 sqft. One year prior, the average listing was 1,996 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.