Austin VA Loan Rates, Closing Costs & Stats
AUSTIN-ROUND ROCK-GEORGETOWN, TX
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.
Austin's 188 lenders originated 2,730 VA loans during 2022. The total origination value was $1,239,580,000, with an average VA loan value of $454,059.
Austin VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Austin
averaged
5.91%
for the week of 2023-05-26, compared to the national average (all VA variants) of
6.408% for the same period.
Austin's average VA mortgage closing costs are $6,806.
The average rate for the prior week (2023-05-19) was
5.64% and
one month ago for the week of 2023-04-21, the
average rate was 5.96%.
The average rate one year ago was 4.63%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.29%.
Austin 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 Austin level.
The top Austin VA lender as defined by loan originations is Mortgage Research Center, LLC, with
237 VA loans originated. Their average total fees are
$11,201, which is $1,032
higher than the next largest lender,
DHI MORTGAGE COMPANY, LTD..
The lowest fee Austin VA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($3,361), Mr. Cooper ( Nationstar Mortgage ) ($4,120), CLEARPATH LENDING ($5,679), EAGLE HOME MORTGAGE, LLC ($5,696) and PENTAGON FEDERAL CREDIT UNION ($6,595).
The lowest rate Austin VA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC (2.73%), Mr. Cooper ( Nationstar Mortgage ) (2.82%), CLEARPATH LENDING (2.98%), PENNYMAC LOAN SERVICES, LLC (3.14%) and PENTAGON FEDERAL CREDIT UNION (3.39%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Austin (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
|---|---|---|---|---|
| 2018-01-01 | $359,920 (-7.5%) | $555,064 (-5.1%) | 1.33 | 5,910 |
| 2018-02-01 | $365,506 (-7.3%) | $565,008 (-5.0%) | 1.33 | 5,884 |
| 2018-03-01 | $372,990 (-5.0%) | $572,092 (-4.3%) | 1.31 | 6,335 |
| 2018-04-01 | $376,220 (-5.7%) | $582,210 (-3.9%) | 1.28 | 6,924 |
| 2018-05-01 | $375,000 (-5.9%) | $577,583 (-3.0%) | 1.25 | 7,436 |
| 2018-06-01 | $374,900 (-4.6%) | $568,895 (-3.4%) | 1.25 | 7,940 |
| 2018-07-01 | $368,793 (-4.2%) | $550,681 (-4.7%) | 1.23 | 8,247 |
| 2018-08-01 | $362,350 (-3.8%) | $538,193 (-3.6%) | 1.21 | 8,369 |
| 2018-09-01 | $359,000 (-3.2%) | $535,494 (-4.4%) | 1.21 | 8,364 |
| 2018-10-01 | $349,995 (-4.1%) | $533,472 (-4.0%) | 1.19 | 8,344 |
| 2018-11-01 | $349,900 (-4.1%) | $527,858 (-4.5%) | 1.19 | 7,909 |
| 2018-12-01 | $348,990 (-3.7%) | $514,749 (-7.1%) | 1.20 | 7,092 |
| 2019-01-01 | $348,628 (-3.1%) | $515,487 (-7.1%) | 1.20 | 6,448 |
| 2019-02-01 | $349,950 (-4.3%) | $524,236 (-7.2%) | 1.18 | 6,399 |
| 2019-03-01 | $359,990 (-3.5%) | $550,440 (-3.8%) | 1.20 | 6,632 |
| 2019-04-01 | $369,995 (-1.7%) | $561,043 (-3.6%) | 1.17 | 7,049 |
| 2019-05-01 | $371,000 (-1.1%) | $571,380 (-1.1%) | 1.16 | 7,329 |
| 2019-06-01 | $369,000 (-1.6%) | $566,993 (-0.3%) | 1.15 | 7,732 |
| 2019-07-01 | $364,132 (-1.3%) | $560,868 (1.9%) | 1.14 | 8,005 |
| 2019-08-01 | $365,990 (1.0%) | $571,643 (6.2%) | 1.15 | 7,872 |
| 2019-09-01 | $364,495 (1.5%) | $571,411 (6.7%) | 1.15 | 7,047 |
| 2019-10-01 | $358,000 (2.3%) | $558,952 (4.8%) | 1.16 | 7,413 |
| 2019-11-01 | $355,220 (1.5%) | $559,027 (5.9%) | 1.16 | 6,891 |
| 2019-12-01 | $349,998 (0.3%) | $551,680 (7.2%) | 1.17 | 6,059 |
| 2020-01-01 | $350,522 (0.5%) | $557,314 (8.1%) | 1.17 | 5,438 |
| 2020-02-01 | $363,920 (4.0%) | $594,197 (13.4%) | 1.19 | 5,102 |
| 2020-03-01 | $374,996 (4.2%) | $607,823 (10.4%) | 1.18 | 5,379 |
| 2020-04-01 | $369,774 (-0.1%) | $570,075 (1.6%) | 1.16 | 6,075 |
| 2020-05-01 | $379,999 (2.4%) | $599,651 (5.0%) | 1.16 | 6,360 |
| 2020-06-01 | $395,000 (7.1%) | $639,186 (12.7%) | 1.16 | 5,664 |
| 2020-07-01 | $396,495 (8.9%) | $633,478 (13.0%) | 1.15 | 5,314 |
| 2020-08-01 | $399,999 (9.3%) | $646,888 (13.2%) | 1.15 | 4,898 |
| 2020-09-01 | $415,495 (14.0%) | $665,489 (16.5%) | 1.19 | 4,175 |
| 2020-10-01 | $420,000 (17.3%) | $682,466 (22.1%) | 1.20 | 3,881 |
| 2020-11-01 | $422,250 (18.9%) | $681,930 (22.0%) | 1.23 | 3,347 |
| 2020-12-01 | $427,740 (22.2%) | $688,718 (24.8%) | 1.27 | 2,695 |
| 2021-01-01 | $434,700 (24.0%) | $713,471 (28.0%) | 1.30 | 1,811 |
| 2021-02-01 | $448,995 (23.4%) | $746,139 (25.6%) | 1.31 | 1,378 |
| 2021-03-01 | $467,495 (24.7%) | $727,886 (19.8%) | 1.33 | 1,539 |
| 2021-04-01 | $497,500 (34.5%) | $747,378 (31.1%) | 1.35 | 1,703 |
| 2021-05-01 | $500,000 (31.6%) | $755,795 (26.0%) | 1.33 | 1,946 |
| 2021-06-01 | $530,356 (34.3%) | $767,401 (20.1%) | 1.40 | 2,370 |
| 2021-07-01 | $540,000 (36.2%) | $760,714 (20.1%) | 1.42 | 3,073 |
| 2021-08-01 | $546,500 (36.6%) | $747,818 (15.6%) | 1.46 | 3,539 |
| 2021-09-01 | $548,093 (31.9%) | $753,641 (13.3%) | 1.46 | 3,793 |
| 2021-10-01 | $549,900 (30.9%) | $760,746 (11.5%) | 1.47 | 3,635 |
| 2021-11-01 | $549,613 (30.2%) | $772,566 (13.3%) | 1.47 | 3,181 |
| 2021-12-01 | $544,950 (27.4%) | $772,520 (12.2%) | 1.48 | 2,469 |
| 2022-01-01 | $549,000 (26.3%) | $807,691 (13.2%) | 1.48 | 1,744 |
| 2022-02-01 | $578,605 (28.9%) | $874,846 (17.3%) | 1.50 | 1,406 |
| 2022-03-01 | $600,225 (28.4%) | $911,598 (25.2%) | 1.50 | 1,585 |
| 2022-04-01 | $625,000 (25.6%) | $940,567 (25.9%) | 1.49 | 2,011 |
| 2022-05-01 | $629,495 (25.9%) | $907,288 (20.0%) | 1.44 | 3,588 |
| 2022-06-01 | $622,486 (17.4%) | $873,003 (13.8%) | 1.39 | 5,601 |
| 2022-07-01 | $599,000 (10.9%) | $854,347 (12.3%) | 1.35 | 7,394 |
| 2022-08-01 | $575,000 (5.2%) | $825,755 (10.4%) | 1.33 | 8,225 |
| 2022-09-01 | $558,802 (2.0%) | $805,776 (6.9%) | 1.31 | 8,490 |
| 2022-10-01 | $549,900 (0.0%) | $800,230 (5.2%) | 1.29 | 8,594 |
| 2022-11-01 | $531,448 (-3.3%) | $785,188 (1.6%) | 1.28 | 8,322 |
| 2022-12-01 | $526,880 (-3.3%) | $777,812 (0.7%) | 1.30 | 7,082 |
| 2023-01-01 | $522,500 (-4.8%) | $776,555 (-3.9%) | 1.29 | 6,305 |
| 2023-02-01 | $532,500 (-8.0%) | $812,537 (-7.1%) | 1.28 | 6,116 |
| 2023-03-01 | $549,983 (-8.4%) | $839,230 (-7.9%) | 1.30 | 6,531 |
| 2023-04-01 | $570,000 (-8.8%) | $865,036 (-8.0%) | 1.33 | 7,200 |
Austin's median listing price comes in at 133% of the national average.
Austin's average listing price for 2023-04-01 was $865,036, a difference of $-75,531 (-8.0%) versus the prior year and $25,806 versus the prior month.
For the 2023-04-01 period, Austin had 7,200 MLS listings, a difference of 669 listings (10%) versus the prior month and 5,189 listings (258%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Austin (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 75 days | 2,253 sqft |
| 2018-02-01 | 63 days | 2,278 sqft |
| 2018-03-01 | 45 days | 2,306 sqft |
| 2018-04-01 | 43 days | 2,327 sqft |
| 2018-05-01 | 43 days | 2,313 sqft |
| 2018-06-01 | 48 days | 2,298 sqft |
| 2018-07-01 | 51 days | 2,274 sqft |
| 2018-08-01 | 54 days | 2,236 sqft |
| 2018-09-01 | 58 days | 2,213 sqft |
| 2018-10-01 | 61 days | 2,181 sqft |
| 2018-11-01 | 65 days | 2,173 sqft |
| 2018-12-01 | 72 days | 2,164 sqft |
| 2019-01-01 | 79 days | 2,144 sqft |
| 2019-02-01 | 66 days | 2,161 sqft |
| 2019-03-01 | 49 days | 2,202 sqft |
| 2019-04-01 | 45 days | 2,225 sqft |
| 2019-05-01 | 45 days | 2,219 sqft |
| 2019-06-01 | 46 days | 2,210 sqft |
| 2019-07-01 | 50 days | 2,199 sqft |
| 2019-08-01 | 60 days | 2,210 sqft |
| 2019-09-01 | 68 days | 2,194 sqft |
| 2019-10-01 | 59 days | 2,158 sqft |
| 2019-11-01 | 63 days | 2,150 sqft |
| 2019-12-01 | 69 days | 2,140 sqft |
| 2020-01-01 | 72 days | 2,145 sqft |
| 2020-02-01 | 61 days | 2,150 sqft |
| 2020-03-01 | 45 days | 2,154 sqft |
| 2020-04-01 | 45 days | 2,124 sqft |
| 2020-05-01 | 53 days | 2,150 sqft |
| 2020-06-01 | 55 days | 2,158 sqft |
| 2020-07-01 | 49 days | 2,116 sqft |
| 2020-08-01 | 44 days | 2,089 sqft |
| 2020-09-01 | 50 days | 2,067 sqft |
| 2020-10-01 | 46 days | 2,018 sqft |
| 2020-11-01 | 47 days | 1,968 sqft |
| 2020-12-01 | 54 days | 1,953 sqft |
| 2021-01-01 | 55 days | 1,938 sqft |
| 2021-02-01 | 36 days | 1,940 sqft |
| 2021-03-01 | 27 days | 2,028 sqft |
| 2021-04-01 | 20 days | 2,059 sqft |
| 2021-05-01 | 22 days | 2,069 sqft |
| 2021-06-01 | 15 days | 2,054 sqft |
| 2021-07-01 | 17 days | 2,088 sqft |
| 2021-08-01 | 23 days | 2,101 sqft |
| 2021-09-01 | 28 days | 2,102 sqft |
| 2021-10-01 | 31 days | 2,094 sqft |
| 2021-11-01 | 37 days | 2,103 sqft |
| 2021-12-01 | 46 days | 2,094 sqft |
| 2022-01-01 | 46 days | 2,088 sqft |
| 2022-02-01 | 20 days | 2,067 sqft |
| 2022-03-01 | 15 days | 2,071 sqft |
| 2022-04-01 | 15 days | 2,117 sqft |
| 2022-05-01 | 16 days | 2,120 sqft |
| 2022-06-01 | 21 days | 2,147 sqft |
| 2022-07-01 | 30 days | 2,101 sqft |
| 2022-08-01 | 40 days | 2,100 sqft |
| 2022-09-01 | 51 days | 2,083 sqft |
| 2022-10-01 | 56 days | 2,070 sqft |
| 2022-11-01 | 60 days | 2,049 sqft |
| 2022-12-01 | 73 days | 2,048 sqft |
| 2023-01-01 | 80 days | 2,044 sqft |
| 2023-02-01 | 72 days | 2,074 sqft |
| 2023-03-01 | 52 days | 2,093 sqft |
| 2023-04-01 | 45 days | 2,121 sqft |
Austin's median square footage for active listings during the 2023-04-01 period was 2,121 sqft. One year prior, the average listing was 2,117 sqft.