Winchester VA Loans

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 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 108 lenders originated 947 VA loans during 2021. The total origination value was $315,995,000, with an average VA loan value of $333,680.

Winchester VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Winchester averaged 5.58% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

The average rate for the prior week (2022-05-13) was 5.39% and one month ago for the week of 2022-04-15, the average rate was 5.05%.

The average rate one year ago was 3.25%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.43%.

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

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FREEDOM MORTGAGE CORPORATION 75 2.43% $2,920
QUICKEN LOANS, LLC 75 2.43% $5,327
NAVY FEDERAL CREDIT UNION 50 2.46% $7,412
PENNYMAC LOAN SERVICES, LLC 50 2.36% $5,955
Mortgage Research Center, LLC 43 2.83% $7,128
Integrity Home Mortgage Corp 42 2.83% $7,965
FINANCE OF AMERICA MORTGAGE LLC 36 2.68% $7,671
NEW DAY FINANCIAL, LLC 29 2.63% $9,271
MCLEAN MORTGAGE CORPORATION 26 2.67% $9,628
LOANDEPOT.COM, LLC 23 2.42% $4,449
LAKEVIEW LOAN SERVICING, LLC 18 2.46% $2,537
NVR Mortgage Finance, Inc. 18 2.74% $10,702
UNITED WHOLESALE MORTGAGE, LLC 17 2.57% $8,206
USAA Federal Savings Bank 16 2.81% $7,720
Mr. Cooper ( Nationstar Mortgage ) 16 2.77% $5,847
CBM Mortgage, Inc. 16 3.03% $9,969
PENTAGON FEDERAL CREDIT UNION 16 2.31% $4,150
CLEARPATH LENDING 14 2.35% $4,830
EMBRACE HOME LOANS, INC. 10 2.56% $5,613
Alcova Mortgage LLC 10 2.70% $8,128
HOME POINT FINANCIAL CORPORATION 10 2.35% $6,436
CALIBER HOME LOANS, INC. 9 2.53% $4,273
HOMESPIRE MORTGAGE CORPORATION 9 2.89% $5,169
INTERCOASTAL MORTGAGE COMPANY 8 2.75% $9,905
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 3.08% $7,858
Wells Fargo Bank 8 2.69% $3,822
Low VA Rates, LLC 7 2.43% $4,302
The Federal Savings Bank 7 2.70% $9,972
VILLAGE CAPITAL & INVESTMENT LLC 6 2.75% $4,719
PRIMELENDING, A PLAINSCAPITAL COMPANY 6 3.25% $4,985
NEWREZ LLC 6 2.93% $7,594
HOMEAMERICAN MORTGAGE CORPORATION 6 2.65% $6,361
GUARANTEED RATE, INC. 5 2.60% $9,512
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 2.88% $9,374
Barrington Bank & Trust Company, N.A. 5 3.15% $2,753
MILLENNIUM FINANCIAL GROUP, INC. 5 3.08% $4,999
Carrington Mortgage Services, LLC 5 2.90% $6,227
GUILD MORTGAGE COMPANY 4 2.78% $9,410
NBKC BANK 4 2.25% $3,722
First Heritage Mortgage, LLC 4 2.63% $8,468
Atlantic Union Bank 4 2.59% $3,128
AMERISAVE MORTGAGE CORPORATION 4 2.63% $5,358
NETWORK CAPITAL FUNDING CORPORATION 4 2.28% $5,261
AMERICAN FINANCIAL NETWORK, INC. 3 2.58% $6,032
North American Savings Bank, F.S.B. 3 2.67% $4,507
Capital Bank 3 2.42% $2,074
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 3.04% $4,239
RESIDENTIAL MORTGAGE SERVICES, INC. 3 2.79% $3,466
GUARANTEED RATE AFFINITY, LLC 3 2.46% $6,249
MOVEMENT MORTGAGE, LLC 3 2.79% $11,051
TJC Mortgage, Inc. 3 2.17% $10,629
JAMS-01, INC. 3 2.42% $9,054
PLANET HOME LENDING, LLC 3 2.79% $2,463
Wyndham Capital Mortgage, Inc. 2 2.25% $2,388
Ameris Bank 2 2.50% $7,601
Atlantic Coast Mortgage, LLC 2 2.56% $5,735
CONTOUR MORTGAGE CORPORATION 2 2.44% $5,046
CROSSCOUNTRY MORTGAGE, LLC 2 2.62% $5,732
DRAPER AND KRAMER MORTGAGE CORP. 2 2.50% $6,056
First Home Bank 2 2.25% $2,390
Flagstar Bank, FSB 2 2.69% $5,923
George Mason Mortgage, LLC 2 2.31% $11,770
Keystone Funding, Inc. 2 3.00% $7,929
Prosperity Home Mortgage, LLC 2 2.75% $12,553
Sierra Pacific Mortgage Company, Inc. 2 2.63% $14,728
SUN WEST MORTGAGE COMPANY, INC. 2 2.38% $7,895
TIDEWATER MORTGAGE SERVICES, INC. 2 3.38% $14,120
ACADEMY MORTGAGE CORPORATION 2 2.56% $8,307
KS StateBank 1 2.25% $22,267
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.63% $3,382
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.63% $17,820
INTERCAP LENDING INC. 1 2.63% $4,285
HOMESTEAD FUNDING CORP. 1 2.25% $936
HOMESIDE FINANCIAL, LLC 1 2.75% $7,103
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 3.75% $10,603
FIRST SAVINGS MORTGAGE CORPORATION 1 3.13% $17,780
First Guaranty Mortgage Corporation 1 2.25% $1,964
NP, Inc. 1 2.25% $3,366
EagleBank 1 2.63% $3,487
Paramount Residential Mortgage Group, Inc. 1 3.25% $3,918
DAS Acquisition Company, LLC 1 4.13% $3,586
CHURCHILL MORTGAGE CORPORATION 1 2.50% $22,070
C & F Mortgage Corporation 1 3.38% $3,513
PNC Bank 1 2.75% $3,714
Presidential Bank, FSB 1 2.99% $3,989
Prime Choice Funding Inc. 1 2.25% $2,328
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.75% $20,289
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.75% $3,483
CAPITAL CENTER, L.L.C. 1 2.50% $12,725
RANLIFE, INC. 1 2.75% $3,162
BROKER SOLUTIONS, INC. 1 2.25% $15,684
U.S. Bank 1 2.75% $0
SOVEREIGN LENDING GROUP INCORPORATED 1 2.38% $7,818
Strong Home Mortgage, LLC 1 2.63% $13,268
SUCCESS MORTGAGE PARTNERS, INC. 1 3.38% $17,999
AMERICAN FINANCING CORPORATION 1 2.25% $1,655
BNC National Bank 1 2.25% $2,251
THRIVE MORTGAGE, LLC 1 2.38% $4,533
ACCELERATE MORTGAGE, LLC 1 2.25% $7,876
Blue Ridge Bank 1 2.25% $11,518
Towne Bank 1 2.25% $680
Truist Bank 1 2.50% $8,097
BAYSHORE MORTGAGE FUNDING, LLC 1 3.25% $28,903
MID-ISLAND MORTGAGE CORP. 1 2.25% $8,685
Mid-Continent Funding, Inc. 1 2.50% $2,462
MORTGAGE ACCESS CORP. 1 3.25% $11,633
Manufacturers and Traders Trust Company 1 2.75% $14,247
Magnolia Bank 1 2.75% $14,947

The top Winchester VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 75 VA loans originated. Their average total fees are $2,920, which is $2,407 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Winchester VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,537), FREEDOM MORTGAGE CORPORATION ($2,920), PENTAGON FEDERAL CREDIT UNION ($4,150), LOANDEPOT.COM, LLC ($4,449) and CLEARPATH LENDING ($4,830).

The lowest rate Winchester VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (2.31%), CLEARPATH LENDING (2.35%), HOME POINT FINANCIAL CORPORATION (2.35%), PENNYMAC LOAN SERVICES, LLC (2.36%) and LOANDEPOT.COM, LLC (2.42%).

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.