District Of Columbia VA Loan Rates, Closing Costs & Stats

District of Columbia

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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 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.

    District Of Columbia VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in District Of Columbia averaged -0.26% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    District Of Columbia's average VA mortgage closing costs are $11,642.

    The average rate for the prior week (2024-11-08) was 6.25% and one month ago for the week of 2024-10-11, the average rate was 5.72%.

    The average rate one year ago was 7.11%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.18%.

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

    District Of Columbia 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 District Of Columbia level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    NAVY FEDERAL CREDIT UNION 30 5.63% $12,939
    Mortgage Research Center, LLC 30 6.37% $9,599
    FIRST HOME MORTGAGE CORPORATION 23 6.24% $17,213
    FIRST SAVINGS MORTGAGE CORPORATION 21 6.43% $13,208
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 17 6.20% $16,113
    Vellum Mortgage, Inc. 14 5.97% $19,287
    MOVEMENT MORTGAGE, LLC 13 5.92% $24,189
    Atlantic Coast Mortgage, LLC 12 6.15% $18,433
    QUICKEN LOANS, LLC 12 6.03% $19,444
    Prosperity Home Mortgage, LLC 11 5.83% $22,672
    UNITED WHOLESALE MORTGAGE, LLC 11 5.76% $17,772
    CMG MORTGAGE, INC. 10 6.08% $17,659
    GUARANTEED RATE, INC. 10 6.02% $16,375
    CROSSCOUNTRY MORTGAGE, LLC 9 6.40% $12,011
    PENTAGON FEDERAL CREDIT UNION 8 5.80% $12,263
    CALIBER HOME LOANS, INC. 7 6.23% $21,396
    LOANDEPOT.COM, LLC 7 5.69% $17,456
    BAY EQUITY LLC 6 6.17% $13,819
    DRAPER AND KRAMER MORTGAGE CORP. 6 6.15% $16,795
    USAA Federal Savings Bank 6 5.77% $24,055
    PENNYMAC LOAN SERVICES, LLC 6 5.48% $14,762
    INTERCOASTAL MORTGAGE COMPANY 5 6.45% $16,669
    First Heritage Mortgage, LLC 5 5.95% $14,352
    George Mason Mortgage, LLC 5 6.15% $21,083
    NFM, INC. 5 5.95% $19,665
    EMBRACE HOME LOANS, INC. 4 6.59% $25,416
    FREEDOM MORTGAGE CORPORATION 4 6.47% $11,933
    American Mortgage & Equity Consultants, Inc. 4 6.38% $20,790
    The Federal Savings Bank 4 6.19% $19,201
    HOMESPIRE MORTGAGE CORPORATION 4 6.22% $8,146
    Wells Fargo Bank 3 5.21% $20,380
    NEWREZ LLC 3 6.75% $22,687
    GUARANTEED RATE AFFINITY, LLC 2 6.01% $13,201
    UNION HOME MORTGAGE CORP. 2 6.63% $24,724
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.38% $32,192
    Armed Forces Bank 2 5.88% $7,108
    EVERETT FINANCIAL, INC. 2 6.81% $15,597
    CARDINAL FINANCIAL 2 5.94% $16,520
    CONTOUR MORTGAGE CORPORATION 2 5.75% $32,008
    AMERICAN FINANCIAL NETWORK, INC. 2 6.13% $16,509
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.25% $23,728
    BNC National Bank 2 5.69% $7,180
    AMERISAVE MORTGAGE CORPORATION 2 5.75% $17,235
    Sandy Spring Bank 2 6.06% $21,765
    JAMS-01, INC. 2 5.81% $34,031
    The Freedom Bank of Virginia 2 5.44% $19,012
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $24,792
    Ameris Bank 1 5.25% $29,688
    SOUTHERN TRUST MORTGAGE, LLC 1 5.63% $19,329
    Sunflower Bank 1 5.63% $26,245
    THE MORTGAGE LINK, INC. 1 5.75% $29,265
    THRIVE MORTGAGE, LLC 1 6.38% $19,192
    Towne Bank 1 5.25% $17,550
    Truist 1 7.20% $9,095
    U.S. Bank 1 5.63% $5,870
    First Federal Bank 1 5.88% $11,898
    PLANET HOME LENDING, LLC 1 5.75% $1,060
    First Western Trust Bank 1 5.75% $5,341
    Flagstar Bank, FSB 1 5.75% $17,227
    Watermark Capital, Inc. 1 7.13% $41,191
    GUILD MORTGAGE COMPANY 1 5.63% $31,647
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.50% $22,334
    HOMESIDE FINANCIAL, LLC 1 6.25% $6,498
    Integrity Home Mortgage Corp 1 6.13% $2,100
    Alcova Mortgage LLC 1 6.75% $42,519
    JPMorgan Chase Bank 1 5.75% $19,544
    Keystone Funding, Inc. 1 7.13% $11,671
    LAKEVIEW LOAN SERVICING, LLC 1 5.63% $29,931
    MCLEAN MORTGAGE CORPORATION 1 5.63% $35,530
    BROKER SOLUTIONS, INC. 1 6.00% $13,492
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $17,310
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.25% $0
    NBKC BANK 1 5.38% $8,693
    NVR Mortgage Finance, Inc. 1 6.63% $36,751
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $16,117
    Plains Commerce Bank 1 6.25% $16,225
    Equity Prime Mortgage LLC 1 7.50% $6,461

    The top District Of Columbia VA lender as defined by loan originations is NAVY FEDERAL CREDIT UNION, with 30 VA loans originated. Their average total fees are $12,939, which is $3,340 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee District Of Columbia VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($9,599), NAVY FEDERAL CREDIT UNION ($12,939), FIRST SAVINGS MORTGAGE CORPORATION ($13,208), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($16,113) and GUARANTEED RATE, INC. ($16,375).

    The lowest rate District Of Columbia VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.63%), UNITED WHOLESALE MORTGAGE, LLC (5.76%), Prosperity Home Mortgage, LLC (5.83%), MOVEMENT MORTGAGE, LLC (5.92%) and Vellum Mortgage, Inc. (5.97%).

    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.