Watertown VA Loan Rates, Closing Costs & Stats

WATERTOWN-FORT DRUM, NY

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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 39 lenders originated 457 VA loans during 2023. The total origination value was $108,505,000, with an average VA loan value of $237,429.

    Watertown VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Watertown averaged 5.89% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Watertown's average VA mortgage closing costs are $5,851.

    The average rate for the prior week (2024-12-06) was 6.33% and one month ago for the week of 2024-11-08, the average rate was 6.52%.

    The average rate one year ago was 6.67%.

    For refis of the same type during the week of 2024-12-13, the average rate was 5.98%.

    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
    MOVEMENT MORTGAGE, LLC 113 6.63% $9,305
    Mortgage Research Center, LLC 86 6.76% $6,506
    HOMESTEAD FUNDING CORP. 43 6.07% $7,028
    NAVY FEDERAL CREDIT UNION 37 5.84% $6,777
    PLAZA HOME MORTGAGE, INC. 34 6.22% $9,843
    QUICKEN LOANS, LLC 21 6.48% $9,656
    CROSSCOUNTRY MORTGAGE, LLC 20 6.72% $6,498
    USAA Federal Savings Bank 10 6.50% $12,323
    Genesee Regional Bank 8 6.77% $13,271
    UNITED WHOLESALE MORTGAGE, LLC 7 5.72% $8,718
    GUARANTEED RATE, INC. 6 6.50% $2,810
    NEWREZ LLC 5 6.65% $8,626
    LOANDEPOT.COM, LLC 4 6.43% $12,698
    AMERICU Credit Union 4 5.84% $8,653
    PENTAGON FEDERAL CREDIT UNION 4 6.38% $9,563
    The Federal Savings Bank 3 6.92% $8,970
    CARDINAL FINANCIAL 3 6.58% $9,082
    NBKC BANK 3 6.29% $12,997
    FREEDOM MORTGAGE CORPORATION 3 6.58% $13,682
    Wells Fargo Bank 2 6.94% $8,283
    Barrington Bank & Trust Company, N.A. 2 6.00% $3,213
    Flagstar Bank, FSB 2 6.41% $6,992
    Mr. Cooper ( Nationstar Mortgage ) 2 6.88% $7,923
    NORTHERN CREDIT UNION 2 6.62% $10,199
    PENNYMAC LOAN SERVICES, LLC 2 5.81% $15,958
    North American Savings Bank, F.S.B. 1 5.13% $6,456
    U.S. Bank 1 7.25% $6,118
    1ST PRIORITY MORTGAGE, INC. 1 6.00% $7,106
    HUNT MORTGAGE CORPORATION 1 6.25% $5,248
    PHH Mortgage Corporation 1 7.13% $3,516
    CONTOUR MORTGAGE CORPORATION 1 7.25% $17,813
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $16,262
    Community First National Bank 1 7.25% $6,265
    RELIANCE FIRST CAPITAL, LLC 1 5.50% $10,588
    Community Bank 1 6.50% $6,648
    CMG MORTGAGE, INC. 1 6.63% $16,332
    ALLIED MORTGAGE GROUP, INC. 1 5.25% $21,140
    KeyBank 1 7.13% $2,343
    INB 1 6.75% $8,602

    The top Watertown VA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 113 VA loans originated. Their average total fees are $9,305, which is $2,799 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Watertown VA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC ($6,498), Mortgage Research Center, LLC ($6,506), NAVY FEDERAL CREDIT UNION ($6,777), HOMESTEAD FUNDING CORP. ($7,028) and MOVEMENT MORTGAGE, LLC ($9,305).

    The lowest rate Watertown VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.84%), HOMESTEAD FUNDING CORP. (6.07%), PLAZA HOME MORTGAGE, INC. (6.22%), QUICKEN LOANS, LLC (6.48%) and USAA Federal Savings Bank (6.50%).

    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 $146,500 (1.1%) $217,726 (4.5%) 0.00 710
    2018-02-01 $147,850 (2.0%) $213,542 (2.5%) 0.00 693
    2018-03-01 $149,900 (2.7%) $219,895 (3.9%) 0.00 701
    2018-04-01 $152,400 (1.7%) $222,225 (0.5%) 0.00 718
    2018-05-01 $163,825 (3.0%) $225,516 (0.7%) 0.00 799
    2018-06-01 $168,235 (5.0%) $223,015 (-0.4%) 0.00 927
    2018-07-01 $169,800 (6.2%) $233,747 (2.7%) 0.00 987
    2018-08-01 $168,900 (8.3%) $235,883 (4.4%) 0.00 995
    2018-09-01 $169,900 (9.6%) $241,448 (6.0%) 0.00 985
    2018-10-01 $168,350 (8.7%) $242,016 (5.2%) 0.00 964
    2018-11-01 $165,000 (6.5%) $237,195 (-20.0%) 0.00 882
    2018-12-01 $164,640 (8.7%) $230,495 (2.4%) 0.00 787
    2019-01-01 $163,500 (11.6%) $228,073 (4.8%) 0.00 718
    2019-02-01 $162,900 (10.2%) $230,658 (8.0%) 0.00 689
    2019-03-01 $168,529 (12.4%) $247,723 (12.7%) 0.00 677
    2019-04-01 $179,950 (18.1%) $273,574 (23.1%) 0.00 676
    2019-05-01 $181,250 (10.6%) $267,567 (18.7%) 0.00 737
    2019-06-01 $183,000 (8.8%) $255,261 (14.5%) 0.00 813
    2019-07-01 $184,900 (8.9%) $259,331 (11.0%) 0.00 846
    2019-08-01 $180,336 (6.8%) $254,500 (7.9%) 0.00 825
    2019-09-01 $175,591 (3.4%) $249,794 (3.5%) 0.00 802
    2019-10-01 $172,427 (2.4%) $247,017 (2.1%) 0.00 775
    2019-11-01 $169,000 (2.4%) $239,711 (1.1%) 0.00 716
    2019-12-01 $162,875 (-1.1%) $225,119 (-2.3%) 0.00 662
    2020-01-01 $159,900 (-2.2%) $215,208 (-5.6%) 0.00 587
    2020-02-01 $164,000 (0.7%) $221,996 (-3.8%) 0.00 559
    2020-03-01 $167,450 (-0.6%) $226,513 (-8.6%) 0.00 547
    2020-04-01 $175,700 (-2.4%) $250,879 (-8.3%) 0.00 546
    2020-05-01 $179,000 (-1.2%) $263,821 (-1.4%) 0.00 540
    2020-06-01 $186,950 (2.2%) $271,657 (6.4%) 0.00 539
    2020-07-01 $192,450 (4.1%) $274,801 (6.0%) 0.00 559
    2020-08-01 $189,000 (4.8%) $277,807 (9.2%) 0.00 535
    2020-09-01 $173,500 (-1.2%) $277,271 (11.0%) 0.00 501
    2020-10-01 $169,900 (-1.5%) $278,761 (12.9%) 0.00 468
    2020-11-01 $169,900 (0.5%) $272,295 (13.6%) 0.00 413
    2020-12-01 $168,500 (3.5%) $268,140 (19.1%) 0.00 367
    2021-01-01 $160,000 (0.1%) $233,408 (8.5%) 0.00 297
    2021-02-01 $167,950 (2.4%) $234,778 (5.8%) 0.00 248
    2021-03-01 $172,000 (2.7%) $250,539 (10.6%) 0.00 212
    2021-04-01 $182,925 (4.1%) $268,210 (6.9%) 0.00 205
    2021-05-01 $199,000 (11.2%) $283,846 (7.6%) 0.00 233
    2021-06-01 $192,425 (2.9%) $274,267 (1.0%) 0.00 294
    2021-07-01 $189,900 (-1.3%) $264,882 (-3.6%) 0.00 347
    2021-08-01 $186,000 (-1.6%) $273,483 (-1.6%) 0.00 350
    2021-09-01 $188,975 (8.9%) $277,452 (0.1%) 0.00 344
    2021-10-01 $174,450 (2.7%) $256,188 (-8.1%) 0.00 304
    2021-11-01 $162,400 (-4.4%) $254,084 (-6.7%) 0.00 254
    2021-12-01 $166,875 (-1.0%) $255,280 (-4.8%) 0.00 222
    2022-01-01 $159,950 (0.0%) $241,237 (3.4%) 0.00 181
    2022-02-01 $165,925 (-1.2%) $232,632 (-0.9%) 0.00 149
    2022-03-01 $170,650 (-0.8%) $241,073 (-3.8%) 0.00 141
    2022-04-01 $171,000 (-6.5%) $265,943 (-0.9%) 0.00 131
    2022-05-01 $203,274 (2.2%) $275,835 (-2.8%) 0.00 177
    2022-06-01 $210,000 (9.1%) $308,300 (12.4%) 0.00 232
    2022-07-01 $199,000 (4.8%) $300,400 (13.4%) 0.00 271
    2022-08-01 $199,000 (7.0%) $306,442 (12.1%) 0.00 286
    2022-09-01 $193,625 (2.5%) $301,151 (8.5%) 0.00 310
    2022-10-01 $198,900 (14.0%) $303,450 (18.5%) 0.00 292
    2022-11-01 $194,830 (20.0%) $302,090 (18.9%) 0.00 274
    2022-12-01 $185,000 (10.9%) $291,566 (14.2%) 0.00 234
    2023-01-01 $177,000 (10.7%) $242,423 (0.5%) 0.00 184
    2023-02-01 $173,700 (4.7%) $249,481 (7.2%) 0.00 155
    2023-03-01 $179,800 (5.4%) $247,515 (2.7%) 0.00 139
    2023-04-01 $197,000 (15.2%) $314,598 (18.3%) 0.00 153
    2023-05-01 $217,450 (7.0%) $333,852 (21.0%) 0.00 167
    2023-06-01 $252,475 (20.2%) $362,904 (17.7%) 0.00 184
    2023-07-01 $249,450 (25.4%) $382,300 (27.3%) 0.00 187
    2023-08-01 $247,300 (24.3%) $385,042 (25.7%) 0.00 210
    2023-09-01 $245,000 (26.5%) $354,466 (17.7%) 0.00 231
    2023-10-01 $241,500 (21.4%) $351,910 (16.0%) 0.00 245
    2023-11-01 $224,475 (15.2%) $336,547 (11.4%) 0.00 243
    2023-12-01 $220,000 (18.9%) $331,943 (13.9%) 0.00 206
    2024-01-01 $229,500 (29.7%) $341,400 (40.8%) 0.00 188
    2024-02-01 $225,450 (29.8%) $343,015 (37.5%) 0.00 183
    2024-03-01 $235,000 (30.7%) $356,652 (44.1%) 0.00 190
    2024-04-01 $249,175 (26.5%) $367,536 (16.8%) 0.00 215
    2024-05-01 $265,625 (22.2%) $378,075 (13.3%) 0.00 244
    2024-06-01 $269,900 (6.9%) $373,792 (3.0%) 0.00 250
    2024-07-01 $266,950 (7.0%) $378,788 (-0.9%) 0.00 290
    2024-08-01 $260,000 (5.1%) $363,170 (-5.7%) 0.00 332
    2024-09-01 $259,900 (6.1%) $357,044 (0.7%) 0.00 357
    2024-10-01 $259,475 (7.4%) $355,937 (1.1%) 0.00 358
    2024-11-01 $259,000 (15.4%) $348,270 (3.5%) 0.00 361
    Watertown's median listing price for 2024-11-01 was $259,000, a difference of $34,525 (15.4%) versus the prior year and $-475 versus the prior month.

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

    Watertown's average listing price for 2024-11-01 was $348,270, a difference of $11,723 (3.5%) versus the prior year and $-7,667 versus the prior month.

    For the 2024-11-01 period, Watertown had 361 MLS listings, a difference of 3 listings (1%) versus the prior month and 118 listings (49%) 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 1,680 sqft
    2018-02-01 0 days 1,680 sqft
    2018-03-01 0 days 1,680 sqft
    2018-04-01 0 days 1,661 sqft
    2018-05-01 0 days 1,660 sqft
    2018-06-01 0 days 1,629 sqft
    2018-07-01 0 days 1,626 sqft
    2018-08-01 0 days 1,633 sqft
    2018-09-01 0 days 1,636 sqft
    2018-10-01 0 days 1,603 sqft
    2018-11-01 0 days 1,598 sqft
    2018-12-01 0 days 1,607 sqft
    2019-01-01 0 days 1,620 sqft
    2019-02-01 0 days 1,634 sqft
    2019-03-01 0 days 1,684 sqft
    2019-04-01 0 days 1,724 sqft
    2019-05-01 0 days 1,687 sqft
    2019-06-01 0 days 1,680 sqft
    2019-07-01 0 days 1,701 sqft
    2019-08-01 0 days 1,689 sqft
    2019-09-01 0 days 1,674 sqft
    2019-10-01 0 days 1,665 sqft
    2019-11-01 0 days 1,663 sqft
    2019-12-01 0 days 1,649 sqft
    2020-01-01 0 days 1,646 sqft
    2020-02-01 0 days 1,653 sqft
    2020-03-01 0 days 1,656 sqft
    2020-04-01 0 days 1,684 sqft
    2020-05-01 0 days 1,689 sqft
    2020-06-01 0 days 1,673 sqft
    2020-07-01 0 days 1,698 sqft
    2020-08-01 0 days 1,700 sqft
    2020-09-01 0 days 1,695 sqft
    2020-10-01 0 days 1,666 sqft
    2020-11-01 0 days 1,695 sqft
    2020-12-01 0 days 1,687 sqft
    2021-01-01 0 days 1,678 sqft
    2021-02-01 0 days 1,744 sqft
    2021-03-01 0 days 1,699 sqft
    2021-04-01 0 days 1,674 sqft
    2021-05-01 0 days 1,676 sqft
    2021-06-01 0 days 1,658 sqft
    2021-07-01 0 days 1,684 sqft
    2021-08-01 0 days 1,683 sqft
    2021-09-01 0 days 1,686 sqft
    2021-10-01 0 days 1,672 sqft
    2021-11-01 0 days 1,648 sqft
    2021-12-01 0 days 1,648 sqft
    2022-01-01 0 days 1,669 sqft
    2022-02-01 0 days 1,671 sqft
    2022-03-01 0 days 1,687 sqft
    2022-04-01 0 days 1,680 sqft
    2022-05-01 0 days 1,668 sqft
    2022-06-01 0 days 1,680 sqft
    2022-07-01 0 days 1,680 sqft
    2022-08-01 0 days 1,730 sqft
    2022-09-01 0 days 1,717 sqft
    2022-10-01 0 days 1,734 sqft
    2022-11-01 0 days 1,681 sqft
    2022-12-01 0 days 1,652 sqft
    2023-01-01 0 days 1,666 sqft
    2023-02-01 0 days 1,739 sqft
    2023-03-01 0 days 1,675 sqft
    2023-04-01 0 days 1,759 sqft
    2023-05-01 0 days 1,685 sqft
    2023-06-01 0 days 1,795 sqft
    2023-07-01 0 days 1,766 sqft
    2023-08-01 0 days 1,744 sqft
    2023-09-01 0 days 1,702 sqft
    2023-10-01 0 days 1,780 sqft
    2023-11-01 0 days 1,708 sqft
    2023-12-01 0 days 1,694 sqft
    2024-01-01 0 days 1,772 sqft
    2024-02-01 0 days 1,699 sqft
    2024-03-01 0 days 1,700 sqft
    2024-04-01 0 days 1,736 sqft
    2024-05-01 0 days 1,721 sqft
    2024-06-01 0 days 1,737 sqft
    2024-07-01 0 days 1,753 sqft
    2024-08-01 0 days 1,740 sqft
    2024-09-01 0 days 1,715 sqft
    2024-10-01 0 days 1,718 sqft
    2024-11-01 0 days 1,720 sqft
    Watertown's median listing age (time on market) for 2024-11-01 was 0 days.

    Watertown's median square footage for active listings during the 2024-11-01 period was 1,720 sqft. One year prior, the average listing was 1,708 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.