Winchester VA Loan Rates, Closing Costs & Stats

WINCHESTER, VA-WV

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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 60 lenders originated 254 VA loans during 2023. The total origination value was $109,160,000, with an average VA loan value of $429,764.

    Winchester VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Winchester averaged 6.22% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Winchester's average VA mortgage closing costs are $7,254.

    The average rate for the prior week (2024-07-12) was 6.26% and one month ago for the week of 2024-06-14, the average rate was 6.52%.

    The average rate one year ago was 6.81%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.67%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 19 6.53% $10,041
    NAVY FEDERAL CREDIT UNION 18 5.78% $4,456
    QUICKEN LOANS, LLC 16 6.08% $14,635
    EAGLE HOME MORTGAGE, LLC 15 5.80% $4,908
    LOANDEPOT.COM, LLC 14 5.98% $13,643
    UNITED WHOLESALE MORTGAGE, LLC 11 6.34% $12,823
    Atlantic Coast Mortgage, LLC 11 6.28% $14,042
    Integrity Home Mortgage Corp 10 6.51% $12,225
    MOVEMENT MORTGAGE, LLC 9 6.33% $11,156
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.54% $11,317
    NVR Mortgage Finance, Inc. 8 5.45% $5,863
    INTERCOASTAL MORTGAGE COMPANY 7 6.02% $12,071
    USAA Federal Savings Bank 6 5.98% $18,846
    HOMEAMERICAN MORTGAGE CORPORATION 6 5.10% $6,539
    CMG MORTGAGE, INC. 6 6.29% $12,666
    DHI MORTGAGE COMPANY, LTD. 5 5.57% $17,920
    Mr. Cooper ( Nationstar Mortgage ) 5 5.90% $15,119
    GSF Mortgage Corporation 5 6.02% $14,167
    TIDEWATER MORTGAGE SERVICES, INC. 5 6.53% $13,869
    PENTAGON FEDERAL CREDIT UNION 4 5.53% $8,572
    Shea Mortgage Inc. 4 6.31% $5,308
    FREEDOM MORTGAGE CORPORATION 4 6.88% $18,511
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.75% $7,261
    EMBRACE HOME LOANS, INC. 2 6.50% $6,493
    CBM Mortgage, Inc. 2 6.50% $45,682
    AMERICAN FINANCIAL NETWORK, INC. 2 6.88% $11,461
    Alcova Mortgage LLC 2 6.88% $309
    Prosperity Home Mortgage, LLC 2 5.44% $16,121
    Ameris Bank 2 5.44% $16,006
    The Federal Savings Bank 2 6.69% $16,353
    Vellum Mortgage, Inc. 2 6.56% $16,552
    GUILD MORTGAGE COMPANY 2 6.63% $18,570
    VILLAGE CAPITAL MORTGAGE 1 5.75% $6,914
    Advance Financial Group, LLC 1 6.00% $8,751
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 7.25% $3,999
    Barrington Bank & Trust Company, N.A. 1 6.25% $13,549
    BAY EQUITY LLC 1 5.75% $25,462
    Capital Bank 1 6.50% $11,557
    CARDINAL FINANCIAL 1 5.75% $48,995
    CHURCHILL MORTGAGE CORPORATION 1 7.50% $14,209
    CROSSCOUNTRY MORTGAGE, LLC 1 7.13% $6,988
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.13% $2,545
    Equity Prime Mortgage LLC 1 7.25% $1,466
    First Federal Bank 1 8.00% $17,742
    First Heritage Mortgage, LLC 1 5.88% $14,215
    Flagstar Bank, FSB 1 6.63% $14,943
    George Mason Mortgage, LLC 1 6.13% $12,984
    HOMESPIRE MORTGAGE CORPORATION 1 6.75% $6,257
    JAMS-01, INC. 1 6.50% $19,611
    MORTGAGE ACCESS CORP. 1 6.25% $14,460
    NEW DAY FINANCIAL, LLC 1 6.99% $24,046
    Northwest Federal Credit Union 1 7.75% $2,871
    Paramount Bank 1 7.00% $2,907
    PENNYMAC LOAN SERVICES, LLC 1 6.13% $21,166
    Plains Commerce Bank 1 6.13% $31,959
    POLARIS HOME FUNDING CORP. 1 7.63% $16,968
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.75% $12,348
    SUN WEST MORTGAGE COMPANY, INC. 1 6.88% $14,846
    Towne Bank 1 5.75% $4,503
    ACADEMY MORTGAGE CORPORATION 1 7.25% $3,557

    The top Winchester VA lender as defined by loan originations is Mortgage Research Center, LLC, with 19 VA loans originated. Their average total fees are $10,041, which is $5,585 higher than the next largest lender, NAVY FEDERAL CREDIT UNION.

    The lowest fee Winchester VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($4,456), EAGLE HOME MORTGAGE, LLC ($4,908), Mortgage Research Center, LLC ($10,041), Integrity Home Mortgage Corp ($12,225) and UNITED WHOLESALE MORTGAGE, LLC ($12,823).

    The lowest rate Winchester VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.78%), EAGLE HOME MORTGAGE, LLC (5.80%), LOANDEPOT.COM, LLC (5.98%), QUICKEN LOANS, LLC (6.08%) and Atlantic Coast Mortgage, LLC (6.28%).

    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.