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.