Winchester VA Loans

WINCHESTER, VA-WV

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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.

    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.