Baltimore VA Loans
BALTIMORE-COLUMBIA-TOWSON, MD
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.
Baltimore's 273 lenders originated 15,606 VA loans during 2021. The total origination value was $6,157,250,000, with an average VA loan value of $394,544.
Baltimore VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Baltimore
averaged
6.32%
for the week of 2022-09-23, compared to the national average (all VA variants) of
5.992% for the same period.
The average rate for the prior week (2022-09-16) was
5.97% and
one month ago for the week of 2022-08-19, the
average rate was 5.23%.
The average rate one year ago was 2.83%.
For refis of the same type during the week of 2022-09-23, the average rate
was 6.18%.
Baltimore VA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Baltimore level.
The top Baltimore VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with
1,154 VA loans originated. Their average total fees are
$3,953, which is $1,813
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Baltimore VA lenders (with over 10 loans originated) are
NETWORK CAPITAL FUNDING CORPORATION ($2,634), Lakeview Community Capital, LLC ($2,908), PLANET HOME LENDING, LLC ($2,937), Credence Funding Corporation ($3,169) and LAKEVIEW LOAN SERVICING, LLC ($3,324).
The lowest rate Baltimore VA lenders (with over 10 loans originated) are
ACCELERATE MORTGAGE, LLC (2.24%), Credence Funding Corporation (2.26%), VILLAGE CAPITAL MORTGAGE (2.27%), CLEARPATH LENDING (2.31%) and BNC National Bank (2.32%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Baltimore (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 | $287,950 (6.7%) | $382,774 (5.7%) | 1.06 | 8,264 |
| 2018-02-01 | $286,500 (4.2%) | $380,987 (3.3%) | 1.03 | 7,986 |
| 2018-03-01 | $299,900 (3.4%) | $395,287 (3.1%) | 1.04 | 8,648 |
| 2018-04-01 | $313,500 (4.5%) | $404,608 (1.1%) | 1.05 | 9,361 |
| 2018-05-01 | $325,000 (5.2%) | $418,001 (3.3%) | 1.08 | 9,952 |
| 2018-06-01 | $329,900 (6.4%) | $420,240 (2.6%) | 1.10 | 10,270 |
| 2018-07-01 | $329,495 (6.6%) | $419,620 (3.4%) | 1.10 | 10,560 |
| 2018-08-01 | $325,000 (6.6%) | $415,868 (1.5%) | 1.09 | 10,670 |
| 2018-09-01 | $319,900 (4.6%) | $406,736 (-0.3%) | 1.07 | 11,051 |
| 2018-10-01 | $319,450 (6.5%) | $404,207 (0.2%) | 1.07 | 11,149 |
| 2018-11-01 | $310,000 (3.7%) | $396,067 (1.0%) | 1.04 | 10,903 |
| 2018-12-01 | $299,900 (3.8%) | $385,326 (-0.4%) | 1.03 | 9,743 |
| 2019-01-01 | $299,900 (4.2%) | $383,066 (0.1%) | 1.03 | 8,728 |
| 2019-02-01 | $299,925 (4.7%) | $389,743 (2.3%) | 1.00 | 8,327 |
| 2019-03-01 | $312,829 (4.3%) | $410,033 (3.7%) | 1.02 | 8,715 |
| 2019-04-01 | $329,950 (5.3%) | $429,035 (6.0%) | 1.04 | 9,393 |
| 2019-05-01 | $339,950 (4.6%) | $432,746 (3.5%) | 1.05 | 10,121 |
| 2019-06-01 | $343,500 (4.1%) | $435,739 (3.7%) | 1.06 | 10,504 |
| 2019-07-01 | $339,500 (3.0%) | $432,216 (3.0%) | 1.06 | 10,544 |
| 2019-08-01 | $332,433 (2.3%) | $426,177 (2.5%) | 1.05 | 10,328 |
| 2019-09-01 | $329,000 (2.8%) | $421,515 (3.6%) | 1.04 | 10,112 |
| 2019-10-01 | $325,000 (1.7%) | $418,602 (3.6%) | 1.04 | 10,111 |
| 2019-11-01 | $320,000 (3.2%) | $417,348 (5.4%) | 1.03 | 9,607 |
| 2019-12-01 | $309,450 (3.2%) | $409,590 (6.3%) | 1.03 | 8,059 |
| 2020-01-01 | $309,900 (3.3%) | $410,121 (7.1%) | 1.03 | 7,106 |
| 2020-02-01 | $320,000 (6.7%) | $421,086 (8.0%) | 1.03 | 6,628 |
| 2020-03-01 | $328,450 (5.0%) | $430,746 (5.1%) | 1.03 | 6,851 |
| 2020-04-01 | $328,450 (-0.5%) | $430,671 (0.4%) | 1.02 | 6,682 |
| 2020-05-01 | $340,000 (0.0%) | $443,576 (2.5%) | 1.03 | 6,634 |
| 2020-06-01 | $349,950 (1.9%) | $462,091 (6.1%) | 1.02 | 6,156 |
| 2020-07-01 | $354,900 (4.5%) | $471,012 (9.0%) | 1.02 | 5,416 |
| 2020-08-01 | $349,900 (5.3%) | $470,620 (10.4%) | 1.00 | 5,016 |
| 2020-09-01 | $339,950 (3.3%) | $462,028 (9.6%) | 0.97 | 4,966 |
| 2020-10-01 | $339,900 (4.6%) | $465,786 (11.3%) | 0.97 | 4,917 |
| 2020-11-01 | $325,500 (1.7%) | $453,482 (8.7%) | 0.93 | 4,574 |
| 2020-12-01 | $325,000 (5.0%) | $451,617 (10.3%) | 0.95 | 3,934 |
| 2021-01-01 | $319,900 (3.2%) | $453,049 (10.5%) | 0.94 | 3,271 |
| 2021-02-01 | $313,400 (-2.1%) | $457,617 (8.7%) | 0.90 | 2,731 |
| 2021-03-01 | $325,000 (-1.1%) | $456,649 (6.0%) | 0.91 | 2,826 |
| 2021-04-01 | $334,900 (2.0%) | $458,417 (6.4%) | 0.90 | 3,130 |
| 2021-05-01 | $349,900 (2.9%) | $474,138 (6.9%) | 0.92 | 3,371 |
| 2021-06-01 | $342,500 (-2.1%) | $464,807 (0.6%) | 0.89 | 3,920 |
| 2021-07-01 | $349,000 (-1.7%) | $463,191 (-1.7%) | 0.91 | 4,369 |
| 2021-08-01 | $335,000 (-4.3%) | $442,791 (-5.9%) | 0.88 | 4,746 |
| 2021-09-01 | $335,000 (-1.5%) | $441,754 (-4.4%) | 0.88 | 4,791 |
| 2021-10-01 | $325,000 (-4.4%) | $434,067 (-6.8%) | 0.86 | 4,669 |
| 2021-11-01 | $315,000 (-3.2%) | $427,147 (-5.8%) | 0.83 | 4,149 |
| 2021-12-01 | $311,200 (-4.3%) | $428,723 (-5.1%) | 0.83 | 3,442 |
| 2022-01-01 | $299,000 (-6.5%) | $427,005 (-5.8%) | 0.80 | 2,842 |
| 2022-02-01 | $300,000 (-4.3%) | $433,711 (-5.2%) | 0.76 | 2,574 |
| 2022-03-01 | $324,975 (0.0%) | $462,028 (1.2%) | 0.80 | 2,637 |
| 2022-04-01 | $330,000 (-1.5%) | $458,082 (-0.1%) | 0.78 | 2,886 |
| 2022-05-01 | $352,450 (0.7%) | $473,533 (-0.1%) | 0.79 | 3,450 |
| 2022-06-01 | $365,000 (6.6%) | $486,454 (4.7%) | 0.81 | 3,967 |
| 2022-07-01 | $359,900 (3.1%) | $477,711 (3.1%) | 0.80 | 4,483 |
| 2022-08-01 | $352,495 (5.2%) | $478,769 (8.1%) | 0.81 | 4,593 |
Baltimore's median listing price comes in at 81% of the national average.
Baltimore's average listing price for 2022-08-01 was $478,769, a difference of $35,978 (8.1%) versus the prior year and $1,058 versus the prior month.
For the 2022-08-01 period, Baltimore had 4,593 MLS listings, a difference of 110 listings (2%) versus the prior month and -153 listings (-3%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Baltimore (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 79 days | 1,911 sqft |
| 2018-02-01 | 73 days | 1,929 sqft |
| 2018-03-01 | 47 days | 1,951 sqft |
| 2018-04-01 | 44 days | 1,975 sqft |
| 2018-05-01 | 43 days | 2,010 sqft |
| 2018-06-01 | 45 days | 1,876 sqft |
| 2018-07-01 | 50 days | 1,873 sqft |
| 2018-08-01 | 53 days | 1,856 sqft |
| 2018-09-01 | 54 days | 1,830 sqft |
| 2018-10-01 | 56 days | 1,856 sqft |
| 2018-11-01 | 59 days | 1,856 sqft |
| 2018-12-01 | 69 days | 1,824 sqft |
| 2019-01-01 | 77 days | 1,818 sqft |
| 2019-02-01 | 72 days | 1,830 sqft |
| 2019-03-01 | 50 days | 1,883 sqft |
| 2019-04-01 | 40 days | 1,939 sqft |
| 2019-05-01 | 43 days | 1,960 sqft |
| 2019-06-01 | 47 days | 1,974 sqft |
| 2019-07-01 | 51 days | 1,972 sqft |
| 2019-08-01 | 56 days | 1,957 sqft |
| 2019-09-01 | 55 days | 1,945 sqft |
| 2019-10-01 | 53 days | 1,926 sqft |
| 2019-11-01 | 58 days | 1,913 sqft |
| 2019-12-01 | 70 days | 1,888 sqft |
| 2020-01-01 | 76 days | 1,880 sqft |
| 2020-02-01 | 66 days | 1,900 sqft |
| 2020-03-01 | 43 days | 1,920 sqft |
| 2020-04-01 | 49 days | 1,920 sqft |
| 2020-05-01 | 57 days | 1,944 sqft |
| 2020-06-01 | 50 days | 1,963 sqft |
| 2020-07-01 | 43 days | 1,970 sqft |
| 2020-08-01 | 42 days | 1,937 sqft |
| 2020-09-01 | 35 days | 1,888 sqft |
| 2020-10-01 | 43 days | 1,852 sqft |
| 2020-11-01 | 46 days | 1,808 sqft |
| 2020-12-01 | 53 days | 1,798 sqft |
| 2021-01-01 | 60 days | 1,755 sqft |
| 2021-02-01 | 51 days | 1,751 sqft |
| 2021-03-01 | 38 days | 1,793 sqft |
| 2021-04-01 | 33 days | 1,800 sqft |
| 2021-05-01 | 34 days | 1,827 sqft |
| 2021-06-01 | 32 days | 1,786 sqft |
| 2021-07-01 | 35 days | 1,798 sqft |
| 2021-08-01 | 34 days | 1,763 sqft |
| 2021-09-01 | 37 days | 1,760 sqft |
| 2021-10-01 | 40 days | 1,728 sqft |
| 2021-11-01 | 44 days | 1,705 sqft |
| 2021-12-01 | 50 days | 1,701 sqft |
| 2022-01-01 | 56 days | 1,668 sqft |
| 2022-02-01 | 40 days | 1,680 sqft |
| 2022-03-01 | 33 days | 1,739 sqft |
| 2022-04-01 | 31 days | 1,760 sqft |
| 2022-05-01 | 31 days | 1,801 sqft |
| 2022-06-01 | 32 days | 1,840 sqft |
| 2022-07-01 | 35 days | 1,825 sqft |
| 2022-08-01 | 37 days | 1,822 sqft |
Baltimore's median square footage for active listings during the 2022-08-01 period was 1,822 sqft. One year prior, the average listing was 1,763 sqft.
