Maryland VA Loan Rates, Closing Costs & Stats

Maryland

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.

Maryland VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Maryland averaged -0.15% for the week of 2024-02-23, compared to the national average (all VA variants) of 0% for the same period.

Maryland's average VA mortgage closing costs are $7,627.

The average rate for the prior week (2024-02-16) was 6.03% and one month ago for the week of 2024-01-19, the average rate was 6.08%.

The average rate one year ago was 5.8%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.47%.

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

Maryland 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 Maryland level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 1,223 5.09% $10,213
NAVY FEDERAL CREDIT UNION 859 3.85% $9,220
QUICKEN LOANS, LLC 837 4.07% $13,136
UNITED WHOLESALE MORTGAGE, LLC 641 4.29% $12,722
FIRST HOME MORTGAGE CORPORATION 631 4.62% $15,089
FREEDOM MORTGAGE CORPORATION 587 4.17% $13,124
PENNYMAC LOAN SERVICES, LLC 419 3.22% $11,352
NVR Mortgage Finance, Inc. 373 4.15% $13,057
LOANDEPOT.COM, LLC 309 3.71% $11,484
CALIBER HOME LOANS, INC. 266 4.32% $14,187
Towne Bank 264 4.30% $12,417
USAA Federal Savings Bank 255 4.45% $10,970
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 244 4.71% $11,296
NEW DAY FINANCIAL, LLC 211 4.88% $13,313
Prosperity Home Mortgage, LLC 202 4.50% $14,612
PENTAGON FEDERAL CREDIT UNION 180 3.61% $7,334
NFM, INC. 174 4.80% $12,610
PRIMARY RESIDENTIAL MORTGAGE, INC. 165 4.82% $14,714
GUARANTEED RATE, INC. 158 4.32% $11,565
The Federal Savings Bank 157 4.78% $17,428
EAGLE HOME MORTGAGE, LLC 149 4.77% $9,273
BAY CAPITAL MORTGAGE CORPORATION 140 4.42% $12,855
Mr. Cooper ( Nationstar Mortgage ) 140 4.42% $11,549
MCLEAN MORTGAGE CORPORATION 133 4.25% $20,991
GUARANTEED RATE AFFINITY, LLC 127 4.57% $9,333
MOVEMENT MORTGAGE, LLC 125 4.72% $10,268
EMBRACE HOME LOANS, INC. 125 4.39% $14,201
First Heritage Mortgage, LLC 120 4.83% $16,553
HOME POINT FINANCIAL CORPORATION 118 4.11% $12,555
Meridian Bank Corporation 97 4.44% $10,195
CROSSCOUNTRY MORTGAGE, LLC 91 4.89% $15,267
Wells Fargo Bank 89 4.04% $7,726
NEWREZ LLC 87 4.14% $11,015
Truist 80 3.96% $10,437
AMERISAVE MORTGAGE CORPORATION 80 4.12% $14,271
CMG MORTGAGE, INC. 80 4.82% $15,814
George Mason Mortgage, LLC 77 4.18% $13,234
DHI MORTGAGE COMPANY, LTD. 77 3.91% $9,879
HOMESPIRE MORTGAGE CORPORATION 68 4.28% $13,566
DRAPER AND KRAMER MORTGAGE CORP. 67 4.16% $13,500
Plains Commerce Bank 64 4.50% $12,421
CLEARPATH LENDING 63 3.75% $12,733
PRIMELENDING, A PLAINSCAPITAL COMPANY 62 4.81% $10,050
Carrington Mortgage Services, LLC 58 4.39% $11,006
VILLAGE CAPITAL MORTGAGE 57 3.68% $11,940
SOUTHERN TRUST MORTGAGE, LLC 54 4.37% $12,170
BROKER SOLUTIONS, INC. 53 4.85% $13,107
LAKEVIEW LOAN SERVICING, LLC 52 3.30% $5,958
Presidential Bank, FSB 52 4.82% $16,732
CARDINAL FINANCIAL 49 4.73% $14,645
HOMEAMERICAN MORTGAGE CORPORATION 48 3.94% $10,017
Mid-Continent Funding, Inc. 46 4.37% $9,482
Vellum Mortgage, Inc. 46 4.71% $14,411
Atlantic Coast Mortgage, LLC 46 4.60% $14,212
HOMEBRIDGE FINANCIAL SERVICES, INC. 45 4.35% $11,975
HOMESIDE FINANCIAL, LLC 42 4.70% $13,196
NBKC BANK 42 4.26% $10,325
North American Savings Bank, F.S.B. 41 4.16% $11,201
Waterstone Mortgage Corporation 41 4.62% $18,021
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 41 4.98% $17,596
DIRECT MORTGAGE LOANS, LLC 41 5.10% $13,348
Paramount Residential Mortgage Group, Inc. 40 4.59% $13,450
GUILD MORTGAGE COMPANY 40 4.34% $11,694
FIRST SAVINGS MORTGAGE CORPORATION 38 4.43% $13,715
ACADEMY MORTGAGE CORPORATION 38 4.57% $14,833
INTERLINC MORTGAGE SERVICES, LLC 38 4.71% $11,520
Sierra Pacific Mortgage Company, Inc. 37 4.21% $11,502
Flagstar Bank, FSB 36 4.44% $14,513
INTERCOASTAL MORTGAGE COMPANY 36 4.39% $14,340
PULTE MORTGAGE LLC 34 4.50% $7,621
Magnolia Bank 32 3.89% $14,184
BNC National Bank 31 4.02% $11,745
SWBC MORTGAGE CORPORATION 31 5.06% $8,942
Sandy Spring Bank 29 5.26% $12,863
Lakeview Community Capital, LLC 28 3.60% $7,755
SUN WEST MORTGAGE COMPANY, INC. 28 4.33% $11,125
BAY EQUITY LLC 28 5.32% $9,854
Barrington Bank & Trust Company, N.A. 28 4.82% $10,337
M&T Bank 27 3.93% $8,836
1ST FINANCIAL, INC. 27 4.64% $13,780
Armed Forces Bank 26 4.36% $10,735
UNION HOME MORTGAGE CORP. 26 3.90% $11,823
MUTUAL OF OMAHA MORTGAGE, INC. 26 4.52% $12,518
EMM LOANS LLC 25 4.74% $10,019
Shore United Bank 25 4.09% $20,275
THE MORTGAGE LINK, INC. 25 4.36% $11,737
Nations Lending Corporation 24 5.02% $13,596
PLANET HOME LENDING, LLC 24 3.90% $8,629
First Home Bank 23 4.70% $17,975
APEX HOME LOANS, INC. 22 4.23% $15,861
Ameris Bank 21 4.22% $12,944
ENVOY MORTGAGE, LTD 21 5.07% $10,223
FIDELITY DIRECT MORTGAGE, LLC 20 4.50% $16,855
Strong Home Mortgage, LLC 19 4.02% $12,446
CHURCHILL MORTGAGE CORPORATION 19 5.29% $16,490
RELIANCE FIRST CAPITAL, LLC 18 4.68% $12,021
ABSOLUTE HOME MORTGAGE CORPORATION 18 5.33% $11,091
Hometown Lenders, Inc. 18 5.26% $15,510
CHERRY CREEK MORTGAGE, LLC 18 4.74% $7,262
ARK-LA-TEX FINANCIAL SERVICES, LLC. 16 4.95% $9,068
SOVEREIGN LENDING GROUP INCORPORATED 16 3.84% $12,856
1ST PREFERENCE MORTGAGE CORP. 15 4.01% $14,565
TJC Mortgage, Inc. 15 4.13% $13,209
EQUITY RESOURCES, INC. 15 5.01% $10,024
U.S. Bank 15 4.60% $11,951
Alcova Mortgage LLC 15 4.78% $9,559
BAYSHORE MORTGAGE FUNDING, LLC 15 5.33% $12,623
NATIONWIDE MORTGAGE BANKERS, INC. 14 5.49% $15,022
Equity Prime Mortgage LLC 14 5.22% $12,900
ROUNDPOINT MORTGAGE SERVICING CORPORATION 14 4.10% $11,854
WesBanco 14 4.30% $11,464
Low VA Rates, LLC 13 4.67% $21,765
NATIONS DIRECT MORTGAGE, LLC 13 4.78% $10,033
Wyndham Capital Mortgage, Inc. 13 3.45% $14,434
CONTOUR MORTGAGE CORPORATION 13 4.45% $14,361
PNC Bank 12 3.77% $8,225
JAMS-01, INC. 12 4.84% $18,562
MORTGAGE SOLUTIONS OF COLORADO, LLC 12 5.13% $12,345
FINANCE OF AMERICA MORTGAGE LLC 12 4.51% $15,303
MY MORTGAGE, INC. 11 4.59% $13,851
Capital Bank 11 4.02% $11,987
NETWORK CAPITAL FUNDING CORPORATION 11 3.47% $11,132
West Town Bank & Trust 11 4.85% $13,763
TOWER 10 4.21% $9,825
NP, Inc. 10 3.44% $8,227
Fulton Bank 10 4.40% $13,125
First Federal Bank 10 4.25% $11,539
ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 10 4.20% $7,574
T2 FINANCIAL LLC 10 5.34% $9,005
SECURITYNATIONAL MORTGAGE COMPANY 10 4.34% $12,403
Integrity Home Mortgage Corp 10 5.31% $7,747
EagleBank 10 4.10% $18,374
EVERETT FINANCIAL, INC. 9 4.56% $7,216
Northpointe Bank 9 5.24% $9,387
LOANPAL, LLC 9 3.90% $12,747
MILLENNIUM FINANCIAL GROUP, INC. 9 4.60% $15,353
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 8 4.63% $12,858
AMERICAN FINANCING CORPORATION 8 4.05% $12,042
Mortgage Network, Inc. 8 5.06% $12,289
MDE Home Loans, LLC 8 4.58% $21,171
Sunflower Bank 8 3.73% $13,396
UNIVERSAL MORTGAGE & FINANCE, INC. 8 5.97% $16,261
SUCCESS MORTGAGE PARTNERS, INC. 7 4.67% $9,786
Encompass Lending Group, LP 7 3.84% $15,823
CORNERSTONE HOME LENDING, INC. 7 4.34% $15,985
Homesale Mortgage, LLC 7 4.66% $13,194
Community First National Bank 7 4.98% $11,629
First Guaranty Mortgage Corporation 7 3.52% $11,576
DAS Acquisition Company, LLC 6 4.98% $11,506
ARC HOME LLC 6 4.79% $14,267
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 6 5.21% $12,906
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 6 5.58% $17,178
Texana Bank 6 4.42% $11,967
STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 6 4.75% $6,621
Florida Capital Bank 6 4.38% $10,391
CAPITAL CENTER, L.L.C. 6 4.19% $5,455
PLAZA HOME MORTGAGE, INC. 6 3.63% $11,960
MORTGAGE ACCESS CORP. 6 4.79% $14,639
OCMBC, INC. 6 4.79% $15,602
Credence Funding Corporation 6 3.13% $5,457
AMERICAN PACIFIC MORTGAGE CORPORATION 6 5.02% $13,404
RESIDENTIAL BANCORP 5 4.07% $12,227
Residential Mortgage Solutions, Inc. 5 4.98% $14,262
TIDEWATER MORTGAGE SERVICES, INC. 5 4.18% $16,015
First Mortgage Solutions, LLC 5 3.30% $14,288
LADERA LENDING, INC. 5 4.38% $10,318
MANN FINANCIAL INC. 5 4.30% $10,328
GENEVA FINANCIAL, LLC 5 4.63% $10,698
PIKE CREEK MORTGAGE SERVICES, INC. 5 5.68% $12,459
Princeton Mortgage Corporation 5 3.85% $14,042
NORWICH COMMERCIAL GROUP, INC. 5 5.43% $13,401
C & F Mortgage Corporation 5 5.50% $16,511
HomePromise Corporation 4 5.72% $10,988
KELLER MORTGAGE, LLC 4 4.44% $11,288
LOANFLIGHT LENDING, LLC 4 3.03% $2,829
MORTGAGEONE, INC. 4 4.69% $6,157
FIRST EQUITY MORTGAGE INCORPORATED 4 4.16% $9,150
PHH Mortgage Corporation 4 4.38% $14,024
PREMIA MORTGAGE, LLC 4 4.13% $15,749
CityWorth Mortgage LLC 4 4.09% $20,385
Citizens Bank 4 4.19% $10,516
CERTAINTY HOME LOANS, LLC 4 5.69% $18,389
Blue Ridge Bank 4 5.41% $18,890
Bank of America 4 4.34% $13,315
ALLIED MORTGAGE GROUP, INC. 4 5.06% $11,598
CALCON MUTUAL MORTGAGE LLC 3 6.08% $19,906
CBM Mortgage, Inc. 3 5.88% $8,574
AmRes Corporation 3 5.17% $7,736
Century Mortgage Company DBA Century Lending Company 3 4.46% $7,505
MILEND, INC. 3 4.13% $17,217
THRIVE MORTGAGE, LLC 3 3.54% $6,787
CREDIT UNION MORTGAGE ASSOCIATION, INC. 3 4.96% $5,407
POLARIS HOME FUNDING CORP. 3 4.96% $20,377
Watermark Capital, Inc. 3 5.38% $8,503
NEW FED MORTGAGE, CORP. 3 2.63% $2,151
The Freedom Bank of Virginia 3 4.75% $18,166
AMERICAN HOME LENDING USA, LLC 3 4.13% $9,383
LIBERTY HOME MORTGAGE CORPORATION 3 4.63% $12,502
US MORTGAGE CORPORATION 2 4.75% $14,463
First Internet Bank of Indiana 2 2.81% $8,534
First National Bank of Pennsylvania 2 4.75% $19,952
Paramount Bank 2 3.81% $10,455
MORTGAGE EQUITY PARTNERS LLC 2 5.31% $10,728
Cornerstone First Mortgage, Inc 2 6.38% $11,512
MLD MORTGAGE INC. 2 3.63% $11,267
MISSION MORTGAGE LLC 2 4.12% $8,470
CNB Bank Inc. 2 4.31% $18,394
Prime Choice Funding Inc. 2 3.00% $9,486
RESIDENTIAL HOME FUNDING CORP. 2 3.81% $8,785
Cedar Point Federal Credit Union 2 3.94% $36,447
S1L, Inc. 2 5.00% $6,578
STOCKTON MORTGAGE CORPORATION 2 3.81% $21,576
BELEM SERVICING LLC 2 2.50% $8,424
Bank of England 2 4.94% $14,497
TD Bank 2 4.44% $1,434
The Huntington National Bank 2 4.06% $5,592
Atlantic Union Bank 2 4.50% $13,166
Goldwater Bank, N.A. 2 3.56% $10,929
JPMorgan Chase Bank 2 4.19% $18,552
GSF Mortgage Corporation 2 4.63% $9,042
GUARANTY HOME MORTGAGE CORPORATION 2 5.06% $6,255
VAN DYK MORTGAGE CORPORATION 2 4.69% $14,783
INTERCAP LENDING INC. 2 3.38% $7,183
Financial Freedom Mortgage, LLC 2 5.69% $4,438
NASA Federal Credit Union 2 2.81% $4,915
Semper Home Loans, Inc. 1 2.88% $2,749
Service Federal Credit Union 1 4.25% $4,176
CASTLE & COOKE MORTGAGE, LLC 1 5.75% $17,979
MEMBERS 1ST FEDERAL CREDIT UNION 1 5.25% $4,266
Peoples Bank 1 4.25% $5,472
SOUTHPOINT FINANCIAL SERVICES, INC. 1 5.63% $16,928
ZILLOW HOME LOANS, LLC 1 4.50% $1,318
Gateway First Bank 1 7.63% $24,025
Stifel Bank and Trust 1 3.88% $3,196
NATIONS RELIABLE LENDING, LLC 1 3.75% $4,908
First Horizon Bank 1 2.63% $17,926
LOANLEADERS OF AMERICA, INC. 1 3.99% $4,783
MORIA DEVELOPMENT, INC. 1 4.75% $27,418
OPEN MORTGAGE, LLC 1 3.63% $14,465
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 5.13% $14,621
LENOX FINANCIAL MORTGAGE CORPORATION 1 3.75% $5,093
TBI MORTGAGE COMPANY 1 3.75% $10,965
First Federal Bank of Kansas City 1 4.88% $625
LEADERONE FINANCIAL CORPORATION 1 4.38% $11,434
AXIA FINANCIAL, LLC 1 4.63% $4,643
PATRIOT 1 4.38% $8,230
FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.50% $13,728
NexBank 1 4.38% $5,814
The Union Bank Company 1 3.13% $20,231
PANORAMA MORTGAGE GROUP, LLC 1 5.63% $9,807
Leader Bank 1 3.75% $5,265
FBC MORTGAGE, LLC 1 4.88% $9,460
Mutual Federal Bank 1 5.25% $3,184
GoPrime Mortgage, Inc. 1 6.13% $10,581
HOMESTEAD FUNDING CORP. 1 3.50% $5,136
Acre Mortgage and Financial Inc 1 6.00% $17,579
ANGEL OAK HOME LOANS LLC 1 3.25% $18,406
Citibank 1 4.13% $4,667
Colonial Savings, F.A. 1 4.25% $10,399
CIS Financial Services, Inc. 1 5.88% $5,786
First Option Mortgage, LLC 1 4.63% $9,885
Academy Bank 1 3.13% $6,160
Quik Fund, Inc 1 6.63% $5,449
Colten Mortgage, LLC 1 5.63% $12,473
MID AMERICA MORTGAGE, INC. 1 2.50% $2,202
OVM FINANCIAL, INC. 1 3.13% $20,915
MICHIGAN MUTUAL, INC. 1 6.13% $2,123
UNITED MORTGAGE CORP 1 3.63% $16,978
American Security Mortgage Corp. 1 4.13% $16,997
AMERICAN FINANCIAL RESOURCES, INC. 1 5.25% $6,974
SeaTrust Mortgage Company 1 4.75% $11,337
First United Bank and Trust Company 1 4.88% $5,140

The top Maryland VA lender as defined by loan originations is Mortgage Research Center, LLC, with 1,223 VA loans originated. Their average total fees are $10,213, which is $993 higher than the next largest lender, NAVY FEDERAL CREDIT UNION.

The lowest fee Maryland VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($5,958), CHERRY CREEK MORTGAGE, LLC ($7,262), PENTAGON FEDERAL CREDIT UNION ($7,334), ABERDEEN PROVING GROUND FEDERAL CREDIT UNION ($7,574) and PULTE MORTGAGE LLC ($7,621).

The lowest rate Maryland VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.22%), LAKEVIEW LOAN SERVICING, LLC (3.30%), NP, Inc. (3.44%), Wyndham Capital Mortgage, Inc. (3.45%) and NETWORK CAPITAL FUNDING CORPORATION (3.47%).

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.