Allentown VA Loan Rates, Closing Costs & Stats
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ
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.
Allentown's 109 lenders originated 718 VA loans during 2022. The total origination value was $221,050,000, with an average VA loan value of $307,869.
Allentown VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Allentown
averaged
6.34%
for the week of 2023-05-26, compared to the national average (all VA variants) of
6.408% for the same period.
Allentown's average VA mortgage closing costs are $6,888.
The average rate for the prior week (2023-05-19) was
6.17% and
one month ago for the week of 2023-04-21, the
average rate was 6.29%.
The average rate one year ago was 5.06%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.42%.
Allentown 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 Allentown level.
The top Allentown VA lender as defined by loan originations is Mortgage Research Center, LLC, with
116 VA loans originated. Their average total fees are
$8,697, which is $3,941
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Allentown VA lenders (with over 10 loans originated) are
USAA Federal Savings Bank ($6,965), NAVY FEDERAL CREDIT UNION ($6,990), Mortgage Research Center, LLC ($8,697), Prosperity Home Mortgage, LLC ($9,713) and CALIBER HOME LOANS, INC. ($10,192).
The lowest rate Allentown VA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (3.69%), USAA Federal Savings Bank (3.83%), PENNYMAC LOAN SERVICES, LLC (3.86%), LOANDEPOT.COM, LLC (4.12%) and NAVY FEDERAL CREDIT UNION (4.18%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Allentown (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $209,950 (10.5%) | $277,202 (9.6%) | 0.78 | 2,737 |
2018-02-01 | $214,250 (8.8%) | $280,899 (10.0%) | 0.78 | 2,652 |
2018-03-01 | $225,000 (10.2%) | $286,204 (8.7%) | 0.79 | 2,641 |
2018-04-01 | $229,900 (6.9%) | $288,606 (7.1%) | 0.78 | 2,736 |
2018-05-01 | $234,900 (7.0%) | $292,393 (5.8%) | 0.78 | 2,955 |
2018-06-01 | $234,900 (6.6%) | $295,137 (4.9%) | 0.78 | 3,112 |
2018-07-01 | $234,000 (6.4%) | $292,659 (4.1%) | 0.78 | 3,273 |
2018-08-01 | $229,900 (4.6%) | $288,056 (2.6%) | 0.77 | 3,403 |
2018-09-01 | $225,000 (1.1%) | $284,809 (0.5%) | 0.76 | 3,550 |
2018-10-01 | $224,900 (1.2%) | $284,577 (-0.4%) | 0.76 | 3,529 |
2018-11-01 | $219,900 (0.0%) | $284,009 (0.3%) | 0.75 | 3,361 |
2018-12-01 | $219,000 (-0.4%) | $282,314 (0.5%) | 0.76 | 3,060 |
2019-01-01 | $214,900 (2.4%) | $277,345 (0.1%) | 0.74 | 2,835 |
2019-02-01 | $219,900 (2.6%) | $282,269 (0.5%) | 0.74 | 2,759 |
2019-03-01 | $199,700 (-11.2%) | $265,665 (-7.2%) | 0.67 | 3,157 |
2019-04-01 | $209,950 (-8.7%) | $268,531 (-7.0%) | 0.67 | 3,286 |
2019-05-01 | $215,400 (-8.3%) | $272,128 (-6.9%) | 0.67 | 3,387 |
2019-06-01 | $219,900 (-6.4%) | $274,082 (-7.1%) | 0.69 | 3,492 |
2019-07-01 | $223,825 (-4.4%) | $271,772 (-7.1%) | 0.70 | 3,520 |
2019-08-01 | $220,000 (-4.3%) | $274,000 (-4.9%) | 0.69 | 3,515 |
2019-09-01 | $219,950 (-2.2%) | $279,199 (-2.0%) | 0.69 | 3,124 |
2019-10-01 | $217,000 (-3.5%) | $275,203 (-3.3%) | 0.70 | 3,378 |
2019-11-01 | $235,000 (6.9%) | $295,351 (4.0%) | 0.77 | 2,619 |
2019-12-01 | $232,000 (5.9%) | $299,163 (6.0%) | 0.77 | 2,354 |
2020-01-01 | $232,000 (8.0%) | $299,800 (8.1%) | 0.78 | 2,083 |
2020-02-01 | $241,700 (9.9%) | $304,662 (7.9%) | 0.79 | 1,911 |
2020-03-01 | $254,750 (27.6%) | $309,303 (16.4%) | 0.80 | 1,915 |
2020-04-01 | $258,900 (23.3%) | $315,672 (17.6%) | 0.81 | 1,707 |
2020-05-01 | $259,900 (20.7%) | $315,705 (16.0%) | 0.79 | 1,670 |
2020-06-01 | $259,950 (18.2%) | $319,848 (16.7%) | 0.77 | 1,686 |
2020-07-01 | $269,450 (20.4%) | $330,009 (21.4%) | 0.78 | 1,518 |
2020-08-01 | $272,850 (24.0%) | $339,652 (24.0%) | 0.78 | 1,486 |
2020-09-01 | $278,175 (26.5%) | $352,680 (26.3%) | 0.80 | 1,448 |
2020-10-01 | $269,900 (24.4%) | $351,675 (27.8%) | 0.77 | 1,496 |
2020-11-01 | $270,225 (15.0%) | $362,029 (22.6%) | 0.79 | 1,359 |
2020-12-01 | $274,975 (18.5%) | $367,369 (22.8%) | 0.82 | 1,208 |
2021-01-01 | $279,000 (20.3%) | $382,983 (27.8%) | 0.83 | 999 |
2021-02-01 | $294,925 (22.0%) | $395,982 (30.0%) | 0.86 | 875 |
2021-03-01 | $289,925 (13.8%) | $392,825 (27.0%) | 0.82 | 910 |
2021-04-01 | $290,400 (12.2%) | $389,614 (23.4%) | 0.79 | 1,014 |
2021-05-01 | $299,876 (15.4%) | $399,140 (26.4%) | 0.80 | 1,078 |
2021-06-01 | $299,900 (15.4%) | $402,830 (25.9%) | 0.79 | 1,215 |
2021-07-01 | $299,000 (11.0%) | $398,225 (20.7%) | 0.79 | 1,376 |
2021-08-01 | $299,175 (9.7%) | $394,869 (16.3%) | 0.80 | 1,382 |
2021-09-01 | $299,700 (7.7%) | $393,495 (11.6%) | 0.80 | 1,364 |
2021-10-01 | $299,000 (10.8%) | $388,932 (10.6%) | 0.80 | 1,322 |
2021-11-01 | $299,900 (11.0%) | $393,446 (8.7%) | 0.80 | 1,151 |
2021-12-01 | $299,900 (9.1%) | $400,403 (9.0%) | 0.81 | 935 |
2022-01-01 | $307,500 (10.2%) | $410,070 (7.1%) | 0.83 | 766 |
2022-02-01 | $297,450 (0.9%) | $406,293 (2.6%) | 0.77 | 719 |
2022-03-01 | $309,250 (6.7%) | $413,498 (5.3%) | 0.77 | 715 |
2022-04-01 | $328,880 (13.3%) | $438,711 (12.6%) | 0.78 | 766 |
2022-05-01 | $349,900 (16.7%) | $440,230 (10.3%) | 0.80 | 991 |
2022-06-01 | $353,225 (17.8%) | $446,688 (10.9%) | 0.79 | 1,156 |
2022-07-01 | $349,900 (17.0%) | $433,823 (8.9%) | 0.79 | 1,343 |
2022-08-01 | $354,783 (18.6%) | $440,420 (11.5%) | 0.82 | 1,321 |
2022-09-01 | $355,840 (18.7%) | $438,029 (11.3%) | 0.83 | 1,270 |
2022-10-01 | $350,000 (17.1%) | $441,686 (13.6%) | 0.82 | 1,319 |
2022-11-01 | $351,033 (17.1%) | $444,350 (12.9%) | 0.84 | 1,298 |
2022-12-01 | $365,000 (21.7%) | $471,309 (17.7%) | 0.90 | 1,104 |
2023-01-01 | $357,450 (16.2%) | $468,315 (14.2%) | 0.88 | 971 |
2023-02-01 | $361,950 (21.7%) | $467,010 (14.9%) | 0.87 | 864 |
2023-03-01 | $375,000 (21.3%) | $470,590 (13.8%) | 0.88 | 797 |
2023-04-01 | $379,000 (15.2%) | $484,621 (10.5%) | 0.88 | 817 |
Allentown's median listing price comes in at 88% of the national average.
Allentown's average listing price for 2023-04-01 was $484,621, a difference of $45,910 (10.5%) versus the prior year and $14,031 versus the prior month.
For the 2023-04-01 period, Allentown had 817 MLS listings, a difference of 20 listings (3%) versus the prior month and 51 listings (7%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Allentown (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 90 days | 1,822 sqft |
2018-02-01 | 89 days | 1,838 sqft |
2018-03-01 | 68 days | 1,883 sqft |
2018-04-01 | 60 days | 1,893 sqft |
2018-05-01 | 49 days | 1,890 sqft |
2018-06-01 | 52 days | 1,900 sqft |
2018-07-01 | 55 days | 1,893 sqft |
2018-08-01 | 58 days | 1,864 sqft |
2018-09-01 | 63 days | 1,840 sqft |
2018-10-01 | 69 days | 1,831 sqft |
2018-11-01 | 73 days | 1,827 sqft |
2018-12-01 | 80 days | 1,822 sqft |
2019-01-01 | 87 days | 1,808 sqft |
2019-02-01 | 84 days | 1,815 sqft |
2019-03-01 | 74 days | 1,817 sqft |
2019-04-01 | 61 days | 1,882 sqft |
2019-05-01 | 56 days | 1,955 sqft |
2019-06-01 | 61 days | 1,983 sqft |
2019-07-01 | 66 days | 1,986 sqft |
2019-08-01 | 77 days | 1,984 sqft |
2019-09-01 | 87 days | 1,979 sqft |
2019-10-01 | 72 days | 1,932 sqft |
2019-11-01 | 65 days | 1,922 sqft |
2019-12-01 | 77 days | 1,909 sqft |
2020-01-01 | 86 days | 1,898 sqft |
2020-02-01 | 75 days | 1,880 sqft |
2020-03-01 | 51 days | 1,922 sqft |
2020-04-01 | 65 days | 1,939 sqft |
2020-05-01 | 77 days | 1,927 sqft |
2020-06-01 | 44 days | 1,906 sqft |
2020-07-01 | 34 days | 1,884 sqft |
2020-08-01 | 33 days | 1,867 sqft |
2020-09-01 | 35 days | 1,900 sqft |
2020-10-01 | 33 days | 1,840 sqft |
2020-11-01 | 41 days | 1,815 sqft |
2020-12-01 | 51 days | 1,818 sqft |
2021-01-01 | 60 days | 1,820 sqft |
2021-02-01 | 55 days | 1,916 sqft |
2021-03-01 | 28 days | 1,934 sqft |
2021-04-01 | 24 days | 1,935 sqft |
2021-05-01 | 23 days | 1,994 sqft |
2021-06-01 | 23 days | 1,994 sqft |
2021-07-01 | 26 days | 1,932 sqft |
2021-08-01 | 32 days | 1,924 sqft |
2021-09-01 | 38 days | 1,932 sqft |
2021-10-01 | 38 days | 1,904 sqft |
2021-11-01 | 40 days | 1,888 sqft |
2021-12-01 | 54 days | 1,886 sqft |
2022-01-01 | 54 days | 1,920 sqft |
2022-02-01 | 30 days | 1,868 sqft |
2022-03-01 | 22 days | 1,924 sqft |
2022-04-01 | 17 days | 2,008 sqft |
2022-05-01 | 17 days | 2,036 sqft |
2022-06-01 | 22 days | 2,063 sqft |
2022-07-01 | 28 days | 2,025 sqft |
2022-08-01 | 36 days | 2,013 sqft |
2022-09-01 | 44 days | 2,021 sqft |
2022-10-01 | 42 days | 1,987 sqft |
2022-11-01 | 47 days | 1,980 sqft |
2022-12-01 | 61 days | 2,015 sqft |
2023-01-01 | 65 days | 1,984 sqft |
2023-02-01 | 49 days | 1,974 sqft |
2023-03-01 | 40 days | 1,975 sqft |
2023-04-01 | 34 days | 2,000 sqft |
Allentown's median square footage for active listings during the 2023-04-01 period was 2,000 sqft. One year prior, the average listing was 2,008 sqft.