Winchester VA Loan Rates, Closing Costs & Stats

WINCHESTER, VA-WV

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.

Winchester's 78 lenders originated 377 VA loans during 2022. The total origination value was $152,985,000, with an average VA loan value of $405,796.

Winchester VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Winchester averaged 6.11% for the week of 2023-12-08, compared to the national average (all VA variants) of 6.544% for the same period.

Winchester's average VA mortgage closing costs are $6,893.

The average rate for the prior week (2023-12-01) was 6.41% and one month ago for the week of 2023-11-03, the average rate was 7.25%.

The average rate one year ago was 5.81%.

For refis of the same type during the week of 2023-12-08, the average rate was 5.23%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Winchester 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 Winchester level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 34 5.02% $8,184
NAVY FEDERAL CREDIT UNION 31 3.94% $8,516
QUICKEN LOANS, LLC 23 4.08% $16,483
LOANDEPOT.COM, LLC 17 4.01% $17,859
MCLEAN MORTGAGE CORPORATION 15 4.25% $9,573
NVR Mortgage Finance, Inc. 14 4.08% $12,960
FINANCE OF AMERICA MORTGAGE LLC 13 3.76% $11,786
UNITED WHOLESALE MORTGAGE, LLC 12 4.68% $12,771
HOMEAMERICAN MORTGAGE CORPORATION 11 4.20% $5,755
FREEDOM MORTGAGE CORPORATION 11 4.30% $9,532
NEW DAY FINANCIAL, LLC 10 4.20% $17,568
PENNYMAC LOAN SERVICES, LLC 9 3.49% $8,670
PENTAGON FEDERAL CREDIT UNION 7 3.25% $9,647
USAA Federal Savings Bank 7 4.02% $11,054
Integrity Home Mortgage Corp 7 4.91% $9,980
HOMESPIRE MORTGAGE CORPORATION 6 5.75% $10,318
Atlantic Coast Mortgage, LLC 6 3.88% $13,564
CBM Mortgage, Inc. 6 4.13% $28,457
Mr. Cooper ( Nationstar Mortgage ) 6 4.83% $13,598
MOVEMENT MORTGAGE, LLC 6 4.13% $6,069
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 4.02% $15,862
JAMS-01, INC. 5 4.50% $14,774
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 5.56% $13,741
CALIBER HOME LOANS, INC. 4 4.09% $15,189
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 4.66% $8,387
The Federal Savings Bank 4 4.50% $21,748
George Mason Mortgage, LLC 4 4.72% $12,250
HOME POINT FINANCIAL CORPORATION 4 3.90% $7,313
LAKEVIEW LOAN SERVICING, LLC 4 3.44% $3,159
INTERCOASTAL MORTGAGE COMPANY 3 5.46% $13,269
The Freedom Bank of Virginia 3 3.92% $10,743
Flagstar Bank, FSB 3 4.25% $11,711
Prosperity Home Mortgage, LLC 3 4.88% $17,596
First Heritage Mortgage, LLC 3 3.38% $11,724
NEWREZ LLC 3 4.54% $9,603
GUILD MORTGAGE COMPANY 2 5.31% $10,192
CAPITAL CENTER, L.L.C. 2 4.31% $11,953
CARDINAL FINANCIAL 2 3.81% $12,538
Carrington Mortgage Services, LLC 2 5.31% $13,756
CMG MORTGAGE, INC. 2 4.50% $7,250
EMBRACE HOME LOANS, INC. 2 4.13% $7,921
NBKC BANK 2 4.56% $2,780
Northwest Federal Credit Union 2 6.50% $7,278
PLANET HOME LENDING, LLC 2 5.13% $8,946
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 4.88% $9,751
TIDEWATER MORTGAGE SERVICES, INC. 2 6.25% $14,141
UNION HOME MORTGAGE CORP. 2 5.38% $17,244
Wells Fargo Bank 2 2.75% $4,537
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.63% $19,043
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.00% $5,685
CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $14,529
TOWNE MORTGAGE COMPANY 1 2.88% $19,776
CLEARPATH LENDING 1 5.50% $42,768
CityWorth Mortgage LLC 1 3.13% $13,717
NFM, INC. 1 4.88% $26,090
North American Savings Bank, F.S.B. 1 4.50% $9,282
VILLAGE CAPITAL MORTGAGE 1 2.25% $2,258
C & F Mortgage Corporation 1 5.13% $6,047
BROKER SOLUTIONS, INC. 1 5.75% $14,130
BAY EQUITY LLC 1 4.63% $10,260
APEX HOME LOANS, INC. 1 5.25% $4,969
Presidential Bank, FSB 1 6.25% $316
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.88% $15,270
AMERISAVE MORTGAGE CORPORATION 1 2.25% $34,546
Barrington Bank & Trust Company, N.A. 1 6.25% $13,159
Atlantic Union Bank 1 5.13% $2,313
Shea Mortgage Inc. 1 3.50% $119
Armed Forces Bank 1 4.75% $3,174
ARC HOME LLC 1 2.63% $15,250
Vellum Mortgage, Inc. 1 5.25% $17,872
Towne Bank 1 4.50% $26,313
KELLER MORTGAGE, LLC 1 4.63% $23,878
Low VA Rates, LLC 1 5.88% $7,960
Hometown Lenders, Inc. 1 3.75% $21,923
Mid-Continent Funding, Inc. 1 4.25% $4,048
MID-ISLAND MORTGAGE CORP. 1 4.50% $11,960
Alcova Mortgage LLC 1 7.25% $7,113
GUARANTEED RATE, INC. 1 5.23% $2,435

The top Winchester VA lender as defined by loan originations is Mortgage Research Center, LLC, with 34 VA loans originated. Their average total fees are $8,184, which is $332 lower than the next largest lender, NAVY FEDERAL CREDIT UNION.

The lowest fee Winchester VA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION ($5,755), Mortgage Research Center, LLC ($8,184), NAVY FEDERAL CREDIT UNION ($8,516), FREEDOM MORTGAGE CORPORATION ($9,532) and MCLEAN MORTGAGE CORPORATION ($9,573).

The lowest rate Winchester VA lenders (with over 10 loans originated) are FINANCE OF AMERICA MORTGAGE LLC (3.76%), NAVY FEDERAL CREDIT UNION (3.94%), LOANDEPOT.COM, LLC (4.01%), NVR Mortgage Finance, Inc. (4.08%) and QUICKEN LOANS, LLC (4.08%).

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.