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 6.3% for the week of 2024-12-06, compared to the national average (all VA variants) of 6.143% for the same period.

Maryland's average VA mortgage closing costs are $7,954.

The average rate for the prior week (2024-11-29) was 6.59% and one month ago for the week of 2024-11-01, the average rate was 6.35%.

The average rate one year ago was 6.8%.

For refis of the same type during the week of 2024-12-06, the average rate was 6.68%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 857 6.71% $9,520
NAVY FEDERAL CREDIT UNION 595 5.83% $8,947
UNITED WHOLESALE MORTGAGE, LLC 444 6.17% $12,531
QUICKEN LOANS, LLC 406 6.16% $15,176
FIRST HOME MORTGAGE CORPORATION 368 6.28% $14,091
NVR Mortgage Finance, Inc. 343 5.77% $10,491
FREEDOM MORTGAGE CORPORATION 205 6.55% $19,180
NFM, INC. 187 6.45% $12,900
EAGLE HOME MORTGAGE, LLC 183 6.08% $7,068
PENNYMAC LOAN SERVICES, LLC 165 5.58% $11,213
MOVEMENT MORTGAGE, LLC 162 6.48% $11,035
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 154 6.27% $9,852
Prosperity Home Mortgage, LLC 149 6.09% $12,293
The Federal Savings Bank 137 6.32% $20,491
Towne Bank 135 6.25% $14,108
USAA Federal Savings Bank 134 6.33% $12,081
DHI MORTGAGE COMPANY, LTD. 133 5.85% $8,119
LOANDEPOT.COM, LLC 130 5.94% $14,644
PENTAGON FEDERAL CREDIT UNION 122 5.57% $11,613
CROSSCOUNTRY MORTGAGE, LLC 108 6.50% $10,467
BAY CAPITAL MORTGAGE CORPORATION 97 6.21% $14,629
NEWREZ LLC 93 6.40% $14,325
EMBRACE HOME LOANS, INC. 92 6.13% $15,528
GUARANTEED RATE AFFINITY, LLC 91 6.31% $11,042
PRIMARY RESIDENTIAL MORTGAGE, INC. 90 6.32% $13,067
First Heritage Mortgage, LLC 88 6.24% $17,979
GUARANTEED RATE, INC. 88 6.04% $9,254
CALIBER HOME LOANS, INC. 86 6.14% $14,175
CMG MORTGAGE, INC. 86 6.02% $12,298
NEW DAY FINANCIAL, LLC 83 7.43% $17,554
Vellum Mortgage, Inc. 63 6.38% $15,791
Mr. Cooper ( Nationstar Mortgage ) 60 6.04% $16,822
Meridian Bank Corporation 60 6.25% $12,565
Presidential Bank, FSB 57 6.19% $13,327
DRAPER AND KRAMER MORTGAGE CORP. 56 5.98% $11,204
Truist 54 6.08% $10,522
BAY EQUITY LLC 53 6.31% $12,074
PRIMELENDING, A PLAINSCAPITAL COMPANY 47 6.65% $11,005
George Mason Mortgage, LLC 43 6.03% $16,143
VILLAGE CAPITAL MORTGAGE 41 6.25% $15,558
Plains Commerce Bank 40 6.21% $12,834
AMERISAVE MORTGAGE CORPORATION 40 5.73% $20,751
Atlantic Coast Mortgage, LLC 39 6.16% $16,091
PULTE MORTGAGE LLC 39 5.66% $8,691
NBKC BANK 37 5.73% $12,619
Sandy Spring Bank 30 6.21% $14,868
GUILD MORTGAGE COMPANY 30 6.48% $12,496
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 29 6.59% $14,043
INTERCOASTAL MORTGAGE COMPANY 28 6.10% $11,648
Wells Fargo Bank 28 5.87% $10,046
AMERICAN FINANCIAL NETWORK, INC. 28 6.33% $12,185
Paramount Residential Mortgage Group, Inc. 26 6.64% $15,039
ARK-LA-TEX FINANCIAL SERVICES, LLC. 26 6.70% $10,032
DIRECT MORTGAGE LOANS, LLC 25 6.76% $16,237
SUN WEST MORTGAGE COMPANY, INC. 24 6.14% $11,701
CARDINAL FINANCIAL 24 6.61% $17,690
HOMESIDE FINANCIAL, LLC 24 6.53% $9,877
Waterstone Mortgage Corporation 24 6.38% $16,388
FIRST SAVINGS MORTGAGE CORPORATION 22 6.26% $18,636
MUTUAL OF OMAHA MORTGAGE, INC. 22 6.49% $17,973
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 22 6.32% $11,585
Barrington Bank & Trust Company, N.A. 21 6.23% $10,862
BROKER SOLUTIONS, INC. 21 6.64% $14,314
Shore United Bank 20 6.28% $12,895
HOMEAMERICAN MORTGAGE CORPORATION 18 5.64% $5,731
Keystone Funding, Inc. 18 6.35% $14,303
FIDELITY DIRECT MORTGAGE, LLC 17 6.68% $13,105
Equity Prime Mortgage LLC 17 6.64% $13,324
DAS Acquisition Company, LLC 17 6.79% $7,877
INTERLINC MORTGAGE SERVICES, LLC 17 6.60% $13,169
SOUTHERN TRUST MORTGAGE, LLC 17 6.63% $14,999
THE MORTGAGE LINK, INC. 16 6.46% $15,140
Flagstar Bank, FSB 16 6.31% $13,588
SWBC MORTGAGE CORPORATION 16 6.66% $11,825
HOMESPIRE MORTGAGE CORPORATION 16 6.26% $11,320
PLANET HOME LENDING, LLC 16 5.85% $11,664
ACADEMY MORTGAGE CORPORATION 16 6.05% $13,060
Ameris Bank 16 6.57% $16,717
WesBanco 15 6.31% $14,351
First Federal Bank 15 6.12% $10,279
American Mortgage & Equity Consultants, Inc. 15 6.48% $12,318
U.S. Bank 15 6.23% $9,227
Armed Forces Bank 15 6.16% $9,479
LAKEVIEW LOAN SERVICING, LLC 14 5.95% $11,582
EMM LOANS LLC 14 5.93% $8,055
JPMorgan Chase Bank 14 6.27% $4,994
NATIONWIDE MORTGAGE BANKERS, INC. 14 6.70% $16,119
Strong Home Mortgage, LLC 14 5.96% $11,915
NORWICH COMMERCIAL GROUP, INC. 13 6.56% $15,260
EVERETT FINANCIAL, INC. 13 6.34% $19,013
ABSOLUTE HOME MORTGAGE CORPORATION 13 6.69% $9,343
ENVOY MORTGAGE, LTD 13 6.61% $10,637
Mid-Continent Funding, Inc. 13 6.25% $9,342
Integrity Home Mortgage Corp 12 6.61% $13,456
EQUITY RESOURCES, INC. 12 6.55% $9,435
Residential Mortgage Solutions, Inc. 11 7.15% $9,999
UNION HOME MORTGAGE CORP. 11 6.47% $13,276
Sierra Pacific Mortgage Company, Inc. 10 6.67% $8,291
CHURCHILL MORTGAGE CORPORATION 10 6.23% $18,226
CONTOUR MORTGAGE CORPORATION 10 6.44% $16,553
Fulton Bank 10 6.21% $12,326
HOMEBRIDGE FINANCIAL SERVICES, INC. 10 6.56% $14,899
PLAZA HOME MORTGAGE, INC. 9 6.49% $15,315
BAYSHORE MORTGAGE FUNDING, LLC 9 6.68% $18,821
Nations Lending Corporation 9 6.21% $15,406
UNIVERSAL MORTGAGE & FINANCE, INC. 9 6.68% $21,855
JET HOMELOANS, LLC 9 5.91% $5,932
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 9 6.65% $12,319
MICHIGAN MUTUAL, INC. 8 6.50% $14,429
BNC National Bank 8 5.34% $12,464
M&T Bank 8 6.42% $8,317
CORNERSTONE HOME LENDING, INC. 8 6.75% $9,172
AMERICAN PACIFIC MORTGAGE CORPORATION 7 6.41% $18,208
Alcova Mortgage LLC 7 6.70% $9,961
TIDEWATER MORTGAGE SERVICES, INC. 7 6.46% $14,403
Magnolia Bank 7 5.82% $24,797
MDE Home Loans, LLC 7 6.38% $19,823
MORTGAGE SOLUTIONS OF COLORADO, LLC 7 7.16% $16,434
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 7 6.25% $15,674
MORTGAGEONE, INC. 6 6.81% $5,477
MORTGAGE EQUITY PARTNERS LLC 6 6.69% $14,421
GENEVA FINANCIAL, LLC 6 6.69% $25,419
MORTGAGE ACCESS CORP. 6 6.44% $8,088
MY MORTGAGE, INC. 6 6.50% $13,639
PNC Bank 6 6.54% $6,804
OCMBC, INC. 6 6.69% $9,623
MCLEAN MORTGAGE CORPORATION 6 5.73% $12,724
LEADERONE FINANCIAL CORPORATION 5 6.93% $10,987
T2 FINANCIAL LLC 5 6.63% $8,651
MANN FINANCIAL INC. 5 6.23% $15,488
EagleBank 5 5.80% $15,470
TJC Mortgage, Inc. 5 6.05% $15,563
First Savings Bank 5 5.50% $14,324
SeaTrust Mortgage Company 5 6.38% $19,636
NATIONS DIRECT MORTGAGE, LLC 5 6.85% $12,003
RELIANCE FIRST CAPITAL, LLC 4 6.28% $16,968
Citizens Bank 4 6.78% $7,699
Carrington Mortgage Services, LLC 4 5.84% $3,706
RADIUS FINANCIAL GROUP INC. 4 6.15% $15,451
STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 4 6.31% $11,353
SUCCESS MORTGAGE PARTNERS, INC. 4 6.72% $11,054
SOVEREIGN LENDING GROUP INCORPORATED 4 5.38% $23,291
CHERRY CREEK MORTGAGE, LLC 4 6.22% $6,189
JAMS-01, INC. 4 6.41% $10,223
Century Mortgage Company DBA Century Lending Company 3 6.41% $7,088
C & F Mortgage Corporation 3 6.00% $20,370
FIRST COMMUNITY MORTGAGE, INC. 3 6.91% $11,501
LIBERTY HOME MORTGAGE CORPORATION 3 7.04% $36,247
Capital Bank 3 6.79% $12,060
CAPITAL CENTER, L.L.C. 3 6.00% $4,324
NexBank 3 5.71% $9,836
North American Savings Bank, F.S.B. 3 5.42% $12,134
Northpointe Bank 3 6.42% $6,849
NORTHPOINT MORTGAGE, INC. 3 7.33% $13,856
LADERA LENDING, INC. 3 6.21% $17,006
Lakeview Community Capital, LLC 3 5.92% $16,171
1ST FINANCIAL, INC. 3 6.08% $15,394
MILLENNIUM FINANCIAL GROUP, INC. 3 6.79% $8,761
Florida Capital Bank 3 6.33% $11,723
PREMIA MORTGAGE, LLC 3 6.46% $6,282
RESIDENTIAL HOME FUNDING CORP. 3 6.08% $12,367
Watermark Capital, Inc. 3 6.71% $12,472
LOANPAL, LLC 3 6.75% $15,575
LAND HOME FINANCIAL SERVICES, INC. 3 6.67% $12,269
CBM Mortgage, Inc. 3 6.33% $19,743
PIKE CREEK MORTGAGE SERVICES, INC. 3 5.96% $8,947
First Western Trust Bank 2 7.31% $8,056
Franklin Loan Corporation 2 5.50% $13,631
HomePromise Corporation 2 7.50% $15,062
Homesale Mortgage, LLC 2 6.44% $11,744
MID AMERICA MORTGAGE, INC. 2 6.13% $11,055
NATION ONE MORTGAGE CORPORATION 2 6.56% $6,365
Community First National Bank 2 5.88% $9,243
NETWORK CAPITAL FUNDING CORPORATION 2 6.13% $8,686
ON Q FINANCIAL, INC. 2 6.56% $14,801
Service Federal Credit Union 2 6.19% $14,950
Stifel Bank and Trust 2 6.44% $9,348
ZILLOW HOME LOANS, LLC 2 6.69% $5,760
Atlantic Union Bank 2 6.69% $8,574
TD Bank 2 6.63% $10,708
AmeriHome Mortgage Company, LLC 2 6.06% $15,609
The Freedom Bank of Virginia 2 6.13% $18,899
VAN DYK MORTGAGE CORPORATION 2 6.25% $108
ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 2 6.81% $11,228
First National Bank of Pennsylvania 2 6.00% $6,211
Cornerstone First Mortgage, Inc 1 5.63% $4,185
Credence Funding Corporation 1 5.50% $3,575
MORIA DEVELOPMENT, INC. 1 6.25% $13,960
Bank of England 1 6.25% $9,234
MLD MORTGAGE INC. 1 6.13% $13,325
V.I.P. MORTGAGE, INC. 1 6.63% $14,503
Bank of America 1 6.50% $7,027
MILEND, INC. 1 6.75% $9,034
SIRVA MORTGAGE, INC. 1 6.75% $0
Aurora Financial, LLC 1 6.63% $8,507
MID-ISLAND MORTGAGE CORP. 1 5.00% $23,815
CRESCENT MORTGAGE COMPANY 1 6.00% $6,237
Washington Trust Bank 1 6.63% $10,190
Fifth Third Bank 1 6.00% $13,333
Dollar Bank, Federal Savings Bank 1 6.75% $5,085
Sunflower Bank 1 4.88% $7,886
Academy Bank 1 6.00% $4,022
Assurance Financial Group, L.L.C. 1 8.13% $0
LENOX FINANCIAL MORTGAGE CORPORATION 1 5.38% $14,384
GSF Mortgage Corporation 1 8.13% $18,178
First National Bank Texas 1 6.25% $17,638
Willamette Valley Bank 1 6.13% $19,117
The Loan Store, Inc. 1 6.88% $19,916
American Security Mortgage Corp. 1 6.25% $3,797
Wilmington Savings Fund Society, FSB 1 7.63% $6,392
Encompass Lending Group, LP 1 5.50% $12,242
TOP FLITE FINANCIAL, INC. 1 6.75% $29,798
HOMESTEAD FUNDING CORP. 1 6.63% $9,360
TOWNE MORTGAGE COMPANY 1 7.25% $4,767
AMERICAN INTERNET MORTGAGE, INC. 1 5.75% $12,506
EVANSVILLE TEACHERS 1 6.38% $16,620
United Bank 1 5.75% $1,695
AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $6,096
Farmers and Merchants Trust Company of Chambersburg 1 7.13% $8,971
Allied First Bank,sb 1 6.75% $8,911
FBC MORTGAGE, LLC 1 5.63% $6,284
First Federal Bank, A FSB 1 6.75% $33,558
Acre Mortgage and Financial Inc 1 5.50% $27,904
ACNB Bank 1 5.63% $11,566
PHH Mortgage Corporation 1 5.63% $18,090
Paramount Bank 1 6.13% $16,372
NP, Inc. 1 7.13% $5,320
Capital City Home Loans, LLC 1 5.75% $16,902
CityWorth Mortgage LLC 1 5.50% $9,974
CNB Bank Inc. 1 6.63% $13,551
Wyndham Capital Mortgage, Inc. 1 5.50% $20,316
Blue Ridge Bank 1 6.63% $7,407
NATIONS RELIABLE LENDING, LLC 1 7.25% $2,698
Core Bank 1 6.13% $24,754

The top Maryland VA lender as defined by loan originations is Mortgage Research Center, LLC, with 857 VA loans originated. Their average total fees are $9,520, which is $573 higher than the next largest lender, NAVY FEDERAL CREDIT UNION.

The lowest fee Maryland VA lenders (with over 10 loans originated) are JPMorgan Chase Bank ($4,994), HOMEAMERICAN MORTGAGE CORPORATION ($5,731), EAGLE HOME MORTGAGE, LLC ($7,068), DAS Acquisition Company, LLC ($7,877) and EMM LOANS LLC ($8,055).

The lowest rate Maryland VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (5.57%), PENNYMAC LOAN SERVICES, LLC (5.58%), HOMEAMERICAN MORTGAGE CORPORATION (5.64%), PULTE MORTGAGE LLC (5.66%) and NBKC BANK (5.73%).

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.