Watertown VA Loans

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 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.