Baltimore VA Loan Rates, Closing Costs & Stats
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 230 lenders originated 5,812 VA loans during 2022. The total origination value was $2,540,600,000, with an average VA loan value of $437,130.
Baltimore VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Baltimore
averaged
6.52%
for the week of 2023-09-22, compared to the national average (all VA variants) of
6.823% for the same period.
Baltimore's average VA mortgage closing costs are $7,525.
The average rate for the prior week (2023-09-15) was
6.5% and
one month ago for the week of 2023-08-18, the
average rate was 6.68%.
The average rate one year ago was 5.65%.
For refis of the same type during the week of 2023-09-22, the average rate
was 5.37%.
Baltimore 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 Baltimore level.
The top Baltimore VA lender as defined by loan originations is Mortgage Research Center, LLC, with
533 VA loans originated. Their average total fees are
$10,204, which is $806
higher than the next largest lender,
NAVY FEDERAL CREDIT UNION.
The lowest fee Baltimore VA lenders (with over 10 loans originated) are
CHERRY CREEK MORTGAGE, LLC ($6,337), LAKEVIEW LOAN SERVICING, LLC ($6,671), PRIMELENDING, A PLAINSCAPITAL COMPANY ($7,153), PENTAGON FEDERAL CREDIT UNION ($7,894) and Wells Fargo Bank ($8,206).
The lowest rate Baltimore VA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (3.26%), LAKEVIEW LOAN SERVICING, LLC (3.32%), Lakeview Community Capital, LLC (3.57%), PENTAGON FEDERAL CREDIT UNION (3.59%) and CLEARPATH LENDING (3.76%).
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 | $284,950 (5.6%) | $382,651 (5.9%) | 1.06 | 8,233 |
| 2018-02-01 | $284,900 (4.0%) | $380,624 (3.4%) | 1.04 | 7,955 |
| 2018-03-01 | $299,900 (3.6%) | $394,101 (3.0%) | 1.05 | 8,628 |
| 2018-04-01 | $311,945 (4.0%) | $402,555 (0.8%) | 1.06 | 9,342 |
| 2018-05-01 | $322,500 (6.1%) | $416,986 (3.2%) | 1.08 | 9,955 |
| 2018-06-01 | $325,000 (6.6%) | $418,630 (2.6%) | 1.08 | 10,252 |
| 2018-07-01 | $327,250 (7.7%) | $418,075 (3.2%) | 1.09 | 10,545 |
| 2018-08-01 | $324,200 (8.1%) | $414,508 (1.3%) | 1.09 | 10,639 |
| 2018-09-01 | $319,000 (6.3%) | $405,105 (-0.7%) | 1.07 | 11,017 |
| 2018-10-01 | $316,000 (5.4%) | $403,120 (0.1%) | 1.07 | 11,138 |
| 2018-11-01 | $309,000 (4.9%) | $396,036 (1.1%) | 1.05 | 10,876 |
| 2018-12-01 | $299,900 (5.2%) | $385,129 (-0.3%) | 1.03 | 9,715 |
| 2019-01-01 | $299,000 (4.9%) | $382,687 (0.0%) | 1.03 | 8,701 |
| 2019-02-01 | $299,900 (5.3%) | $389,486 (2.3%) | 1.01 | 8,300 |
| 2019-03-01 | $312,757 (4.3%) | $409,179 (3.8%) | 1.02 | 8,767 |
| 2019-04-01 | $329,900 (5.8%) | $428,506 (6.5%) | 1.05 | 9,475 |
| 2019-05-01 | $337,450 (4.6%) | $432,703 (3.8%) | 1.05 | 10,130 |
| 2019-06-01 | $339,990 (4.6%) | $435,037 (3.9%) | 1.06 | 10,507 |
| 2019-07-01 | $337,450 (3.1%) | $431,969 (3.3%) | 1.06 | 10,534 |
| 2019-08-01 | $332,200 (2.5%) | $426,442 (2.9%) | 1.05 | 10,415 |
| 2019-09-01 | $328,150 (2.9%) | $422,146 (4.2%) | 1.05 | 10,293 |
| 2019-10-01 | $324,125 (2.6%) | $417,978 (3.7%) | 1.05 | 10,163 |
| 2019-11-01 | $319,900 (3.5%) | $415,612 (4.9%) | 1.05 | 9,595 |
| 2019-12-01 | $302,950 (1.0%) | $407,482 (5.8%) | 1.01 | 8,135 |
| 2020-01-01 | $305,150 (2.1%) | $407,299 (6.4%) | 1.02 | 7,126 |
| 2020-02-01 | $317,250 (5.8%) | $417,481 (7.2%) | 1.04 | 6,757 |
| 2020-03-01 | $325,995 (4.2%) | $428,266 (4.7%) | 1.02 | 6,933 |
| 2020-04-01 | $325,000 (-1.5%) | $429,181 (0.2%) | 1.02 | 6,682 |
| 2020-05-01 | $339,999 (0.8%) | $441,658 (2.1%) | 1.03 | 6,704 |
| 2020-06-01 | $348,250 (2.4%) | $458,844 (5.5%) | 1.03 | 6,232 |
| 2020-07-01 | $350,000 (3.7%) | $469,345 (8.7%) | 1.01 | 5,498 |
| 2020-08-01 | $346,000 (4.2%) | $468,719 (9.9%) | 0.99 | 5,047 |
| 2020-09-01 | $339,869 (3.6%) | $459,243 (8.8%) | 0.97 | 4,988 |
| 2020-10-01 | $335,000 (3.4%) | $463,115 (10.8%) | 0.96 | 4,960 |
| 2020-11-01 | $325,000 (1.6%) | $448,734 (8.0%) | 0.95 | 4,625 |
| 2020-12-01 | $319,950 (5.6%) | $446,897 (9.7%) | 0.95 | 3,957 |
| 2021-01-01 | $315,000 (3.2%) | $448,621 (10.2%) | 0.94 | 3,322 |
| 2021-02-01 | $310,000 (-2.3%) | $455,012 (9.0%) | 0.90 | 2,781 |
| 2021-03-01 | $324,950 (-0.3%) | $451,314 (5.4%) | 0.92 | 2,877 |
| 2021-04-01 | $329,900 (1.5%) | $453,884 (5.8%) | 0.89 | 3,198 |
| 2021-05-01 | $349,000 (2.7%) | $469,970 (6.4%) | 0.93 | 3,543 |
| 2021-06-01 | $339,950 (-2.4%) | $460,563 (0.4%) | 0.89 | 3,997 |
| 2021-07-01 | $345,000 (-1.4%) | $457,895 (-2.4%) | 0.91 | 4,490 |
| 2021-08-01 | $334,450 (-3.3%) | $438,577 (-6.4%) | 0.89 | 4,833 |
| 2021-09-01 | $334,950 (-1.5%) | $438,007 (-4.6%) | 0.89 | 4,853 |
| 2021-10-01 | $324,900 (-3.0%) | $430,212 (-7.1%) | 0.87 | 4,732 |
| 2021-11-01 | $314,925 (-3.1%) | $423,845 (-5.6%) | 0.84 | 4,214 |
| 2021-12-01 | $309,900 (-3.1%) | $424,797 (-5.0%) | 0.84 | 3,500 |
| 2022-01-01 | $295,000 (-6.4%) | $423,368 (-5.6%) | 0.80 | 2,865 |
| 2022-02-01 | $299,950 (-3.2%) | $429,651 (-5.6%) | 0.78 | 2,621 |
| 2022-03-01 | $323,750 (-0.4%) | $457,683 (1.4%) | 0.81 | 2,683 |
| 2022-04-01 | $329,900 (0.0%) | $455,915 (0.5%) | 0.79 | 2,958 |
| 2022-05-01 | $349,950 (0.3%) | $470,362 (0.1%) | 0.80 | 3,516 |
| 2022-06-01 | $363,497 (6.9%) | $483,195 (4.9%) | 0.81 | 4,020 |
| 2022-07-01 | $355,000 (2.9%) | $473,646 (3.4%) | 0.80 | 4,532 |
| 2022-08-01 | $350,000 (4.7%) | $473,899 (8.1%) | 0.81 | 4,651 |
| 2022-09-01 | $345,450 (3.1%) | $466,800 (6.6%) | 0.81 | 4,595 |
| 2022-10-01 | $340,000 (4.7%) | $467,258 (8.6%) | 0.80 | 4,694 |
| 2022-11-01 | $338,550 (7.5%) | $461,432 (8.9%) | 0.81 | 4,596 |
| 2022-12-01 | $329,900 (6.5%) | $449,535 (5.8%) | 0.81 | 4,046 |
| 2023-01-01 | $319,950 (8.5%) | $444,585 (5.0%) | 0.79 | 3,587 |
| 2023-02-01 | $322,500 (7.5%) | $459,018 (6.8%) | 0.78 | 3,215 |
| 2023-03-01 | $345,000 (6.6%) | $480,103 (4.9%) | 0.81 | 3,052 |
| 2023-04-01 | $340,000 (3.1%) | $485,088 (6.4%) | 0.79 | 3,148 |
| 2023-05-01 | $350,000 (0.0%) | $493,900 (5.0%) | 0.79 | 3,221 |
| 2023-06-01 | $365,875 (0.7%) | $513,087 (6.2%) | 0.82 | 3,290 |
| 2023-07-01 | $374,900 (5.6%) | $510,777 (7.8%) | 0.85 | 3,412 |
| 2023-08-01 | $377,450 (7.8%) | $507,324 (7.1%) | 0.87 | 3,490 |
Baltimore's median listing price comes in at 87% of the national average.
Baltimore's average listing price for 2023-08-01 was $507,324, a difference of $33,425 (7.1%) versus the prior year and $-3,453 versus the prior month.
For the 2023-08-01 period, Baltimore had 3,490 MLS listings, a difference of 78 listings (2%) versus the prior month and -1,161 listings (-25%) 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 | 74 days | 1,734 sqft |
| 2018-02-01 | 67 days | 1,754 sqft |
| 2018-03-01 | 43 days | 1,768 sqft |
| 2018-04-01 | 40 days | 1,763 sqft |
| 2018-05-01 | 39 days | 1,796 sqft |
| 2018-06-01 | 44 days | 1,862 sqft |
| 2018-07-01 | 47 days | 1,860 sqft |
| 2018-08-01 | 51 days | 1,846 sqft |
| 2018-09-01 | 52 days | 1,820 sqft |
| 2018-10-01 | 52 days | 1,844 sqft |
| 2018-11-01 | 56 days | 1,842 sqft |
| 2018-12-01 | 65 days | 1,813 sqft |
| 2019-01-01 | 72 days | 1,801 sqft |
| 2019-02-01 | 66 days | 1,816 sqft |
| 2019-03-01 | 50 days | 1,865 sqft |
| 2019-04-01 | 38 days | 1,925 sqft |
| 2019-05-01 | 40 days | 1,948 sqft |
| 2019-06-01 | 45 days | 1,960 sqft |
| 2019-07-01 | 50 days | 1,964 sqft |
| 2019-08-01 | 51 days | 1,947 sqft |
| 2019-09-01 | 51 days | 1,933 sqft |
| 2019-10-01 | 52 days | 1,921 sqft |
| 2019-11-01 | 59 days | 1,904 sqft |
| 2019-12-01 | 69 days | 1,879 sqft |
| 2020-01-01 | 75 days | 1,871 sqft |
| 2020-02-01 | 63 days | 1,890 sqft |
| 2020-03-01 | 40 days | 1,914 sqft |
| 2020-04-01 | 48 days | 1,910 sqft |
| 2020-05-01 | 57 days | 1,934 sqft |
| 2020-06-01 | 48 days | 1,948 sqft |
| 2020-07-01 | 41 days | 1,964 sqft |
| 2020-08-01 | 37 days | 1,928 sqft |
| 2020-09-01 | 32 days | 1,875 sqft |
| 2020-10-01 | 41 days | 1,840 sqft |
| 2020-11-01 | 44 days | 1,800 sqft |
| 2020-12-01 | 51 days | 1,776 sqft |
| 2021-01-01 | 57 days | 1,741 sqft |
| 2021-02-01 | 43 days | 1,736 sqft |
| 2021-03-01 | 34 days | 1,774 sqft |
| 2021-04-01 | 30 days | 1,784 sqft |
| 2021-05-01 | 30 days | 1,816 sqft |
| 2021-06-01 | 30 days | 1,773 sqft |
| 2021-07-01 | 31 days | 1,780 sqft |
| 2021-08-01 | 32 days | 1,752 sqft |
| 2021-09-01 | 36 days | 1,753 sqft |
| 2021-10-01 | 39 days | 1,716 sqft |
| 2021-11-01 | 42 days | 1,697 sqft |
| 2021-12-01 | 48 days | 1,688 sqft |
| 2022-01-01 | 52 days | 1,652 sqft |
| 2022-02-01 | 37 days | 1,669 sqft |
| 2022-03-01 | 31 days | 1,717 sqft |
| 2022-04-01 | 29 days | 1,747 sqft |
| 2022-05-01 | 30 days | 1,790 sqft |
| 2022-06-01 | 31 days | 1,825 sqft |
| 2022-07-01 | 34 days | 1,810 sqft |
| 2022-08-01 | 36 days | 1,812 sqft |
| 2022-09-01 | 41 days | 1,798 sqft |
| 2022-10-01 | 42 days | 1,785 sqft |
| 2022-11-01 | 45 days | 1,768 sqft |
| 2022-12-01 | 51 days | 1,746 sqft |
| 2023-01-01 | 57 days | 1,738 sqft |
| 2023-02-01 | 49 days | 1,760 sqft |
| 2023-03-01 | 43 days | 1,800 sqft |
| 2023-04-01 | 36 days | 1,814 sqft |
| 2023-05-01 | 36 days | 1,826 sqft |
| 2023-06-01 | 36 days | 1,860 sqft |
| 2023-07-01 | 37 days | 1,857 sqft |
| 2023-08-01 | 37 days | 1,870 sqft |
Baltimore's median square footage for active listings during the 2023-08-01 period was 1,870 sqft. One year prior, the average listing was 1,812 sqft.