Cleveland VA Loan Rates, Closing Costs & Stats
CLEVELAND, TN
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.
Cleveland's 61 lenders originated 190 VA loans during 2023. The total origination value was $61,630,000, with an average VA loan value of $324,368.
Cleveland VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Cleveland
averaged
6.21%
for the week of 2024-12-06, compared to the national average (all VA variants) of
6.143% for the same period.
Cleveland's average VA mortgage closing costs are $5,760.
The average rate for the prior week (2024-11-29) was
6.61% and
one month ago for the week of 2024-11-01, the
average rate was 6.67%.
The average rate one year ago was 6.92%.
For refis of the same type during the week of 2024-12-06, the average rate
was 6.77%.
Cleveland 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 Cleveland level.
The top Cleveland VA lender as defined by loan originations is Mortgage Research Center, LLC, with
43 VA loans originated. Their average total fees are
$4,925, which is $3,399
lower than the next largest lender,
CMG MORTGAGE, INC..
The lowest fee Cleveland VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC ($4,925), CMG MORTGAGE, INC. ($8,324), QUICKEN LOANS, LLC ($9,735), .
The lowest rate Cleveland VA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.35%), CMG MORTGAGE, INC. (6.63%), Mortgage Research Center, LLC (6.86%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Cleveland (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 | $239,338 (21.0%) | $283,464 (18.5%) | 0.00 | 437 |
2018-02-01 | $239,900 (20.0%) | $284,722 (17.2%) | 0.00 | 433 |
2018-03-01 | $238,900 (19.5%) | $283,149 (14.7%) | 0.00 | 439 |
2018-04-01 | $234,950 (17.5%) | $285,544 (15.1%) | 0.00 | 425 |
2018-05-01 | $232,425 (8.1%) | $290,393 (13.2%) | 0.00 | 413 |
2018-06-01 | $226,000 (2.9%) | $284,434 (7.2%) | 0.00 | 456 |
2018-07-01 | $228,450 (4.1%) | $286,215 (8.2%) | 0.00 | 465 |
2018-08-01 | $226,000 (-2.2%) | $281,582 (0.8%) | 0.00 | 489 |
2018-09-01 | $229,900 (0.3%) | $278,766 (0.5%) | 0.00 | 534 |
2018-10-01 | $232,450 (-1.9%) | $286,075 (1.0%) | 0.00 | 505 |
2018-11-01 | $238,950 (1.3%) | $287,305 (4.2%) | 0.00 | 477 |
2018-12-01 | $234,900 (2.2%) | $282,442 (3.9%) | 0.00 | 458 |
2019-01-01 | $234,700 (-1.9%) | $283,895 (0.2%) | 0.00 | 435 |
2019-02-01 | $234,900 (-2.1%) | $278,920 (-2.0%) | 0.00 | 412 |
2019-03-01 | $239,643 (0.3%) | $284,914 (0.6%) | 0.00 | 400 |
2019-04-01 | $247,168 (5.2%) | $290,948 (1.9%) | 0.00 | 389 |
2019-05-01 | $248,800 (7.1%) | $293,611 (1.1%) | 0.00 | 398 |
2019-06-01 | $249,900 (10.6%) | $301,485 (6.0%) | 0.00 | 421 |
2019-07-01 | $249,900 (9.4%) | $319,093 (11.5%) | 0.00 | 447 |
2019-08-01 | $249,855 (10.6%) | $322,227 (14.4%) | 0.00 | 452 |
2019-09-01 | $249,880 (8.7%) | $324,638 (16.5%) | 0.00 | 461 |
2019-10-01 | $249,897 (7.5%) | $326,311 (14.1%) | 0.00 | 463 |
2019-11-01 | $249,900 (4.6%) | $329,597 (14.7%) | 0.00 | 454 |
2019-12-01 | $244,900 (4.3%) | $324,846 (15.0%) | 0.00 | 427 |
2020-01-01 | $241,000 (2.7%) | $313,269 (10.4%) | 0.00 | 389 |
2020-02-01 | $249,900 (6.4%) | $312,268 (12.0%) | 0.00 | 358 |
2020-03-01 | $249,175 (4.0%) | $317,655 (11.5%) | 0.00 | 352 |
2020-04-01 | $247,400 (0.1%) | $324,306 (11.5%) | 0.00 | 357 |
2020-05-01 | $259,900 (4.5%) | $350,869 (19.5%) | 0.00 | 327 |
2020-06-01 | $276,350 (10.6%) | $360,293 (19.5%) | 0.00 | 277 |
2020-07-01 | $279,950 (12.0%) | $342,782 (7.4%) | 0.00 | 229 |
2020-08-01 | $280,000 (12.1%) | $353,833 (9.8%) | 0.00 | 208 |
2020-09-01 | $279,825 (12.0%) | $353,093 (8.8%) | 0.00 | 227 |
2020-10-01 | $265,000 (6.0%) | $340,206 (4.3%) | 0.00 | 228 |
2020-11-01 | $259,925 (4.0%) | $337,580 (2.4%) | 0.00 | 227 |
2020-12-01 | $259,400 (5.9%) | $338,461 (4.2%) | 0.00 | 183 |
2021-01-01 | $259,900 (7.8%) | $346,047 (10.5%) | 0.00 | 141 |
2021-02-01 | $282,500 (13.1%) | $369,371 (18.3%) | 0.00 | 128 |
2021-03-01 | $287,450 (15.4%) | $364,779 (14.8%) | 0.00 | 114 |
2021-04-01 | $284,416 (15.0%) | $370,652 (14.3%) | 0.00 | 123 |
2021-05-01 | $274,900 (5.8%) | $359,268 (2.4%) | 0.00 | 124 |
2021-06-01 | $283,894 (2.7%) | $391,477 (8.7%) | 0.00 | 152 |
2021-07-01 | $286,025 (2.2%) | $417,604 (21.8%) | 0.00 | 171 |
2021-08-01 | $286,701 (2.4%) | $408,008 (15.3%) | 0.00 | 203 |
2021-09-01 | $297,578 (6.3%) | $421,592 (19.4%) | 0.00 | 209 |
2021-10-01 | $307,028 (15.9%) | $440,076 (29.4%) | 0.00 | 200 |
2021-11-01 | $338,975 (30.4%) | $507,735 (50.4%) | 0.00 | 166 |
2021-12-01 | $349,500 (34.7%) | $500,382 (47.8%) | 0.00 | 161 |
2022-01-01 | $329,400 (26.7%) | $497,192 (43.7%) | 0.00 | 129 |
2022-02-01 | $363,425 (28.7%) | $578,071 (56.5%) | 0.00 | 105 |
2022-03-01 | $358,675 (24.8%) | $557,614 (52.9%) | 0.00 | 110 |
2022-04-01 | $398,900 (40.3%) | $548,165 (47.9%) | 0.00 | 138 |
2022-05-01 | $388,450 (41.3%) | $551,560 (53.5%) | 0.00 | 195 |
2022-06-01 | $372,396 (31.2%) | $530,013 (35.4%) | 0.00 | 249 |
2022-07-01 | $375,000 (31.1%) | $494,694 (18.5%) | 0.00 | 335 |
2022-08-01 | $382,805 (33.5%) | $515,693 (26.4%) | 0.00 | 340 |
2022-09-01 | $377,400 (26.8%) | $506,497 (20.1%) | 0.00 | 362 |
2022-10-01 | $364,805 (18.8%) | $488,038 (10.9%) | 0.00 | 382 |
2022-11-01 | $360,000 (6.2%) | $478,640 (-5.7%) | 0.00 | 379 |
2022-12-01 | $357,970 (2.4%) | $466,195 (-6.8%) | 0.00 | 359 |
2023-01-01 | $360,910 (9.6%) | $453,528 (-8.8%) | 0.00 | 343 |
2023-02-01 | $370,000 (1.8%) | $478,689 (-17.2%) | 0.00 | 323 |
2023-03-01 | $367,500 (2.5%) | $490,207 (-12.1%) | 0.00 | 281 |
2023-04-01 | $365,000 (-8.5%) | $489,417 (-10.7%) | 0.00 | 261 |
2023-05-01 | $364,950 (-6.1%) | $483,059 (-12.4%) | 0.00 | 288 |
2023-06-01 | $361,500 (-2.9%) | $489,810 (-7.6%) | 0.00 | 304 |
2023-07-01 | $359,900 (-4.0%) | $511,671 (3.4%) | 0.00 | 293 |
2023-08-01 | $365,750 (-4.5%) | $524,010 (1.6%) | 0.00 | 286 |
2023-09-01 | $369,000 (-2.2%) | $537,735 (6.2%) | 0.00 | 304 |
2023-10-01 | $350,000 (-4.1%) | $504,936 (3.5%) | 0.00 | 344 |
2023-11-01 | $354,975 (-1.4%) | $482,173 (0.7%) | 0.00 | 384 |
2023-12-01 | $364,000 (1.7%) | $484,537 (3.9%) | 0.00 | 368 |
2024-01-01 | $365,480 (1.3%) | $472,693 (4.2%) | 0.00 | 355 |
2024-02-01 | $360,605 (-2.5%) | $471,883 (-1.4%) | 0.00 | 360 |
2024-03-01 | $374,900 (2.0%) | $474,973 (-3.1%) | 0.00 | 359 |
2024-04-01 | $374,975 (2.7%) | $476,280 (-2.7%) | 0.00 | 379 |
2024-05-01 | $375,000 (2.8%) | $481,222 (-0.4%) | 0.00 | 410 |
2024-06-01 | $369,900 (2.3%) | $455,873 (-6.9%) | 0.00 | 501 |
2024-07-01 | $349,900 (-2.8%) | $430,874 (-15.8%) | 0.00 | 542 |
2024-08-01 | $350,000 (-4.3%) | $447,371 (-14.6%) | 0.00 | 501 |
2024-09-01 | $345,000 (-6.5%) | $435,197 (-19.1%) | 0.00 | 518 |
2024-10-01 | $320,475 (-8.4%) | $411,015 (-18.6%) | 0.00 | 598 |
2024-11-01 | $349,900 (-1.4%) | $456,559 (-5.3%) | 0.00 | 534 |
Cleveland's median listing price comes in at 0% of the national average.
Cleveland's average listing price for 2024-11-01 was $456,559, a difference of $-25,614 (-5.3%) versus the prior year and $45,544 versus the prior month.
For the 2024-11-01 period, Cleveland had 534 MLS listings, a difference of -64 listings (-11%) versus the prior month and 150 listings (39%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Cleveland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,130 sqft |
2018-02-01 | 0 days | 2,135 sqft |
2018-03-01 | 0 days | 2,162 sqft |
2018-04-01 | 0 days | 2,128 sqft |
2018-05-01 | 0 days | 2,125 sqft |
2018-06-01 | 0 days | 2,084 sqft |
2018-07-01 | 0 days | 2,100 sqft |
2018-08-01 | 0 days | 2,020 sqft |
2018-09-01 | 0 days | 2,084 sqft |
2018-10-01 | 0 days | 2,007 sqft |
2018-11-01 | 0 days | 2,078 sqft |
2018-12-01 | 0 days | 2,019 sqft |
2019-01-01 | 0 days | 1,999 sqft |
2019-02-01 | 0 days | 2,001 sqft |
2019-03-01 | 0 days | 2,044 sqft |
2019-04-01 | 0 days | 2,088 sqft |
2019-05-01 | 0 days | 2,123 sqft |
2019-06-01 | 0 days | 2,170 sqft |
2019-07-01 | 0 days | 2,199 sqft |
2019-08-01 | 0 days | 2,203 sqft |
2019-09-01 | 0 days | 2,203 sqft |
2019-10-01 | 0 days | 2,184 sqft |
2019-11-01 | 0 days | 2,112 sqft |
2019-12-01 | 0 days | 2,087 sqft |
2020-01-01 | 0 days | 2,060 sqft |
2020-02-01 | 0 days | 2,080 sqft |
2020-03-01 | 0 days | 2,094 sqft |
2020-04-01 | 0 days | 2,022 sqft |
2020-05-01 | 0 days | 2,100 sqft |
2020-06-01 | 0 days | 2,168 sqft |
2020-07-01 | 0 days | 2,170 sqft |
2020-08-01 | 0 days | 2,092 sqft |
2020-09-01 | 0 days | 2,071 sqft |
2020-10-01 | 0 days | 2,000 sqft |
2020-11-01 | 0 days | 1,899 sqft |
2020-12-01 | 0 days | 1,898 sqft |
2021-01-01 | 0 days | 1,854 sqft |
2021-02-01 | 0 days | 1,993 sqft |
2021-03-01 | 0 days | 2,020 sqft |
2021-04-01 | 0 days | 1,956 sqft |
2021-05-01 | 0 days | 1,794 sqft |
2021-06-01 | 0 days | 1,873 sqft |
2021-07-01 | 0 days | 1,856 sqft |
2021-08-01 | 0 days | 1,838 sqft |
2021-09-01 | 0 days | 1,896 sqft |
2021-10-01 | 0 days | 1,897 sqft |
2021-11-01 | 0 days | 2,033 sqft |
2021-12-01 | 0 days | 2,062 sqft |
2022-01-01 | 0 days | 2,080 sqft |
2022-02-01 | 0 days | 2,074 sqft |
2022-03-01 | 0 days | 2,109 sqft |
2022-04-01 | 0 days | 2,200 sqft |
2022-05-01 | 0 days | 2,212 sqft |
2022-06-01 | 0 days | 2,206 sqft |
2022-07-01 | 0 days | 2,133 sqft |
2022-08-01 | 0 days | 2,187 sqft |
2022-09-01 | 0 days | 2,144 sqft |
2022-10-01 | 0 days | 2,084 sqft |
2022-11-01 | 0 days | 2,043 sqft |
2022-12-01 | 0 days | 2,020 sqft |
2023-01-01 | 0 days | 1,985 sqft |
2023-02-01 | 0 days | 2,034 sqft |
2023-03-01 | 0 days | 1,977 sqft |
2023-04-01 | 0 days | 2,046 sqft |
2023-05-01 | 0 days | 2,028 sqft |
2023-06-01 | 0 days | 2,027 sqft |
2023-07-01 | 0 days | 2,000 sqft |
2023-08-01 | 0 days | 2,061 sqft |
2023-09-01 | 0 days | 2,002 sqft |
2023-10-01 | 0 days | 1,885 sqft |
2023-11-01 | 0 days | 1,928 sqft |
2023-12-01 | 0 days | 1,890 sqft |
2024-01-01 | 0 days | 1,890 sqft |
2024-02-01 | 0 days | 1,949 sqft |
2024-03-01 | 0 days | 1,874 sqft |
2024-04-01 | 0 days | 1,898 sqft |
2024-05-01 | 0 days | 1,924 sqft |
2024-06-01 | 0 days | 1,841 sqft |
2024-07-01 | 0 days | 1,788 sqft |
2024-08-01 | 0 days | 1,800 sqft |
2024-09-01 | 0 days | 1,776 sqft |
2024-10-01 | 0 days | 1,641 sqft |
2024-11-01 | 0 days | 1,738 sqft |
Cleveland's median square footage for active listings during the 2024-11-01 period was 1,738 sqft. One year prior, the average listing was 1,928 sqft.