Flagstaff VA Loans

FLAGSTAFF, AZ

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 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.

Flagstaff's 88 lenders originated 446 VA loans during 2021. The total origination value was $153,840,000, with an average VA loan value of $344,933.

Flagstaff VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Flagstaff averaged 5.67% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

The average rate for the prior week (2022-05-13) was 5.48% and one month ago for the week of 2022-04-15, the average rate was 5.25%.

The average rate one year ago was 3.04%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.3%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Flagstaff 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 Flagstaff level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FREEDOM MORTGAGE CORPORATION 43 2.45% $4,495
QUICKEN LOANS, LLC 33 2.42% $5,235
UNITED WHOLESALE MORTGAGE, LLC 20 2.50% $11,150
PENNYMAC LOAN SERVICES, LLC 19 2.23% $6,553
Mortgage Research Center, LLC 14 2.66% $6,966
Wallick & Volk, Inc. 13 3.06% $11,883
LAKEVIEW LOAN SERVICING, LLC 12 2.47% $2,732
SUNSTREET MORTGAGE, LLC 12 2.80% $7,841
GUILD MORTGAGE COMPANY 12 2.58% $5,148
PRIMELENDING, A PLAINSCAPITAL COMPANY 11 3.16% $12,148
CLEARPATH LENDING 10 2.45% $4,938
NOVA FINANCIAL & INVESTMENT CORPORATION 10 2.84% $4,176
Mr. Cooper ( Nationstar Mortgage ) 9 2.65% $4,233
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 2.68% $7,073
NEW DAY FINANCIAL, LLC 8 2.89% $8,577
NAVY FEDERAL CREDIT UNION 8 2.45% $5,804
CALIBER HOME LOANS, INC. 8 2.70% $2,319
ACADEMY MORTGAGE CORPORATION 8 3.28% $9,420
VILLAGE CAPITAL & INVESTMENT LLC 7 2.32% $3,937
LOANDEPOT.COM, LLC 6 2.17% $9,220
LHM FINANCIAL CORPORATION 5 2.87% $6,372
The Federal Savings Bank 5 2.45% $10,644
USAA Federal Savings Bank 5 2.93% $1,034
MORIA DEVELOPMENT, INC. 4 2.88% $15,514
HOME POINT FINANCIAL CORPORATION 4 2.34% $4,987
BROKER SOLUTIONS, INC. 4 2.41% $3,589
ON Q FINANCIAL, INC. 4 4.09% $16,529
GUARANTEED RATE, INC. 3 2.63% $4,796
Nations Lending Corporation 3 2.67% $10,032
Carrington Mortgage Services, LLC 3 2.58% $5,723
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 3.00% $6,690
PENTAGON FEDERAL CREDIT UNION 3 2.29% $1,920
Mid-Continent Funding, Inc. 3 3.08% $13,015
Wells Fargo Bank 3 2.42% $3,645
STARBOARD FINANCIAL MANAGEMENT, LLC 3 2.63% $6,172
Lakeview Community Capital, LLC 3 2.29% $4,080
SUN WEST MORTGAGE COMPANY, INC. 2 2.25% $4,741
AMERICAN FINANCIAL NETWORK, INC. 2 2.38% $18,807
AMERISAVE MORTGAGE CORPORATION 2 2.25% $6,493
Commerce Home Mortgage, Inc. 2 3.00% $3,989
First Guaranty Mortgage Corporation 2 2.25% $5,787
Flagstar Bank, FSB 2 2.50% $13,582
HOMEOWNERS FINANCIAL GROUP USA, LLC 2 2.63% $3,493
Manufacturers and Traders Trust Company 2 2.56% $4,124
NETWORK CAPITAL FUNDING CORPORATION 2 2.38% $2,485
NEWREZ LLC 2 2.44% $2,095
Paramount Residential Mortgage Group, Inc. 2 2.63% $5,537
PLANET HOME LENDING, LLC 2 2.44% $2,078
PLAZA HOME MORTGAGE, INC. 2 2.69% $4,033
SOVEREIGN LENDING GROUP INCORPORATED 2 2.44% $29,353
LEADERONE FINANCIAL CORPORATION 1 2.75% $12,057
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.25% $2,298
NBKC BANK 1 2.25% $5,759
Barrington Bank & Trust Company, N.A. 1 2.53% $4,532
GUARANTEED RATE AFFINITY, LLC 1 2.25% $1,237
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.99% $18,218
GENEVA FINANCIAL, LLC 1 3.13% $6,332
NP, Inc. 1 2.25% $4,161
OCMBC, INC. 1 2.25% $7,521
First National Bank Texas 1 2.25% $3,439
V.I.P. MORTGAGE, INC. 1 2.88% $4,552
First Federal Bank 1 2.75% $6,500
CROSSCOUNTRY MORTGAGE, LLC 1 2.25% $4,004
AMERICAN INTERNET MORTGAGE, INC. 1 2.38% $12,059
Alerus Financial 1 2.50% $2,084
CREDIT UNION WEST 1 2.88% $5,289
CORNERSTONE HOME LENDING, INC. 1 2.75% $10,622
RESIDENTIAL MORTGAGE, LLC 1 2.50% $3,168
SFMC, LP 1 2.88% $6,708
Sierra Pacific Mortgage Company, Inc. 1 2.25% $9,230
SOUTHWEST STAGE FUNDING, LLC 1 2.25% $3,284
Wyndham Capital Mortgage, Inc. 1 2.38% $1,860
CMG MORTGAGE, INC. 1 3.25% $4,549
Strong Home Mortgage, LLC 1 2.25% $814
SUN AMERICAN MORTGAGE COMPANY 1 2.99% $17,102
CITYWIDE HOME LOANS, LLC 1 3.13% $9,034
CHURCHILL MORTGAGE CORPORATION 1 2.38% $2,388
CELEBRITY HOME LOANS, LLC 1 2.50% $21,084
TJC Mortgage, Inc. 1 2.25% $3,877
UNION HOME MORTGAGE CORP. 1 2.75% $5,526
UNITED SECURITY FINANCIAL CORP 1 1.75% $4,381
Magnolia Bank 1 2.25% $6,180
Capital Bank 1 2.25% $1,686
Low VA Rates, LLC 1 2.75% $4,443
LOANPAL, LLC 1 2.25% $10,867
LENOX FINANCIAL MORTGAGE CORPORATION 1 2.38% $2,767
LENDING 3, INC. 1 2.75% $6,405
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.13% $13,244

The top Flagstaff VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 43 VA loans originated. Their average total fees are $4,495, which is $739 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Flagstaff VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,732), NOVA FINANCIAL & INVESTMENT CORPORATION ($4,176), FREEDOM MORTGAGE CORPORATION ($4,495), CLEARPATH LENDING ($4,938) and GUILD MORTGAGE COMPANY ($5,148).

The lowest rate Flagstaff VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.23%), QUICKEN LOANS, LLC (2.42%), CLEARPATH LENDING (2.45%), FREEDOM MORTGAGE CORPORATION (2.45%) and LAKEVIEW LOAN SERVICING, LLC (2.47%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Flagstaff (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 $399,000 (5.3%) $521,718 (1.7%) 0.00 290
2018-02-01 $419,000 (6.1%) $536,639 (1.6%) 0.00 280
2018-03-01 $419,000 (5.0%) $531,835 (1.0%) 0.00 291
2018-04-01 $426,000 (9.5%) $566,928 (12.5%) 0.00 327
2018-05-01 $455,000 (13.8%) $617,201 (17.2%) 0.00 364
2018-06-01 $449,600 (14.0%) $614,087 (17.2%) 0.00 449
2018-07-01 $445,250 (11.6%) $603,386 (14.3%) 0.00 481
2018-08-01 $426,500 (8.2%) $593,287 (13.3%) 0.00 494
2018-09-01 $419,600 (7.3%) $581,213 (13.3%) 0.00 487
2018-10-01 $412,335 (7.1%) $573,204 (11.6%) 0.00 485
2018-11-01 $407,733 (3.7%) $574,040 (9.4%) 0.00 455
2018-12-01 $405,000 (1.3%) $591,696 (9.9%) 0.00 393
2019-01-01 $399,950 (0.2%) $532,990 (2.2%) 0.00 357
2019-02-01 $401,700 (-4.1%) $576,279 (7.4%) 0.00 341
2019-03-01 $398,886 (-4.8%) $566,820 (6.6%) 0.00 333
2019-04-01 $391,413 (-8.1%) $538,986 (-4.9%) 0.00 350
2019-05-01 $393,630 (-13.5%) $528,397 (-14.4%) 0.00 386
2019-06-01 $389,000 (-13.5%) $531,432 (-13.5%) 0.00 408
2019-07-01 $389,950 (-12.4%) $537,475 (-10.9%) 0.00 451
2019-08-01 $394,264 (-7.6%) $546,292 (-7.9%) 0.00 444
2019-09-01 $402,475 (-4.1%) $565,235 (-2.8%) 0.00 418
2019-10-01 $399,900 (-3.0%) $564,006 (-1.6%) 0.00 400
2019-11-01 $399,900 (-1.9%) $511,663 (-10.9%) 0.00 377
2019-12-01 $414,900 (2.4%) $525,790 (-11.1%) 0.00 315
2020-01-01 $414,180 (3.6%) $529,597 (-0.6%) 0.00 248
2020-02-01 $419,000 (4.3%) $544,408 (-5.5%) 0.00 214
2020-03-01 $425,900 (6.8%) $555,756 (-2.0%) 0.00 242
2020-04-01 $422,035 (7.8%) $551,429 (2.3%) 0.00 287
2020-05-01 $433,412 (10.1%) $557,459 (5.5%) 0.00 298
2020-06-01 $435,572 (12.0%) $615,712 (15.9%) 0.00 275
2020-07-01 $440,286 (12.9%) $583,594 (8.6%) 0.00 248
2020-08-01 $469,000 (19.0%) $631,325 (15.6%) 0.00 166
2020-09-01 $529,450 (31.6%) $668,402 (18.3%) 0.00 143
2020-10-01 $545,000 (36.3%) $670,359 (18.9%) 0.00 119
2020-11-01 $561,450 (40.4%) $709,283 (38.6%) 0.00 104
2020-12-01 $511,950 (23.4%) $636,136 (21.0%) 0.00 87
2021-01-01 $575,000 (38.8%) $649,666 (22.7%) 0.00 73
2021-02-01 $534,250 (27.5%) $627,198 (15.2%) 0.00 70
2021-03-01 $537,500 (26.2%) $684,998 (23.3%) 0.00 84
2021-04-01 $545,000 (29.1%) $699,550 (26.9%) 0.00 107
2021-05-01 $565,000 (30.4%) $675,079 (21.1%) 0.00 126
2021-06-01 $599,450 (37.6%) $708,308 (15.0%) 0.00 156
2021-07-01 $599,500 (36.2%) $742,739 (27.3%) 0.00 175
2021-08-01 $629,000 (34.1%) $769,443 (21.9%) 0.00 185
2021-09-01 $614,900 (16.1%) $791,609 (18.4%) 0.00 186
2021-10-01 $595,000 (9.2%) $845,247 (26.1%) 0.00 136
2021-11-01 $624,500 (11.2%) $871,922 (22.9%) 0.00 133
2021-12-01 $585,000 (14.3%) $779,369 (22.5%) 0.00 127
2022-01-01 $625,000 (8.7%) $776,859 (19.6%) 0.00 110
2022-02-01 $634,950 (18.9%) $769,252 (22.7%) 0.00 105
2022-03-01 $669,900 (24.6%) $761,563 (11.2%) 0.00 103
2022-04-01 $670,000 (22.9%) $829,495 (18.6%) 0.00 137
Flagstaff's median listing price for 2022-04-01 was $670,000, a difference of $125,000 (22.9%) versus the prior year and $100 versus the prior month.

Flagstaff's median listing price comes in at 0% of the national average.

Flagstaff's average listing price for 2022-04-01 was $829,495, a difference of $129,945 (18.6%) versus the prior year and $67,932 versus the prior month.

For the 2022-04-01 period, Flagstaff had 137 MLS listings, a difference of 34 listings (33%) versus the prior month and 30 listings (28%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Flagstaff (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,182 sqft
2018-02-01 0 days 2,205 sqft
2018-03-01 0 days 2,182 sqft
2018-04-01 0 days 2,230 sqft
2018-05-01 0 days 2,298 sqft
2018-06-01 0 days 2,328 sqft
2018-07-01 0 days 2,264 sqft
2018-08-01 0 days 2,205 sqft
2018-09-01 0 days 2,100 sqft
2018-10-01 0 days 2,089 sqft
2018-11-01 0 days 2,069 sqft
2018-12-01 0 days 2,025 sqft
2019-01-01 0 days 2,000 sqft
2019-02-01 0 days 1,984 sqft
2019-03-01 0 days 1,969 sqft
2019-04-01 0 days 1,956 sqft
2019-05-01 0 days 1,961 sqft
2019-06-01 0 days 1,908 sqft
2019-07-01 0 days 1,911 sqft
2019-08-01 0 days 1,951 sqft
2019-09-01 0 days 1,987 sqft
2019-10-01 0 days 1,994 sqft
2019-11-01 0 days 1,932 sqft
2019-12-01 0 days 1,937 sqft
2020-01-01 0 days 1,937 sqft
2020-02-01 0 days 1,937 sqft
2020-03-01 0 days 1,970 sqft
2020-04-01 0 days 1,920 sqft
2020-05-01 0 days 1,923 sqft
2020-06-01 0 days 1,990 sqft
2020-07-01 0 days 1,996 sqft
2020-08-01 0 days 2,100 sqft
2020-09-01 0 days 2,138 sqft
2020-10-01 0 days 2,176 sqft
2020-11-01 0 days 2,136 sqft
2020-12-01 0 days 1,919 sqft
2021-01-01 0 days 2,100 sqft
2021-02-01 0 days 1,907 sqft
2021-03-01 0 days 2,035 sqft
2021-04-01 0 days 1,897 sqft
2021-05-01 0 days 1,892 sqft
2021-06-01 0 days 1,986 sqft
2021-07-01 0 days 1,966 sqft
2021-08-01 0 days 1,997 sqft
2021-09-01 0 days 2,020 sqft
2021-10-01 0 days 2,073 sqft
2021-11-01 0 days 2,074 sqft
2021-12-01 0 days 1,937 sqft
2022-01-01 0 days 1,986 sqft
2022-02-01 0 days 2,014 sqft
2022-03-01 0 days 2,063 sqft
2022-04-01 0 days 2,008 sqft
Flagstaff's median listing age (time on market) for 2022-04-01 was 0 days.

Flagstaff's median square footage for active listings during the 2022-04-01 period was 2,008 sqft. One year prior, the average listing was 1,897 sqft.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.