Ketchikan VA Loan Rates, Closing Costs & Stats

Ketchikan, AK

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Ketchikan's 13 lenders originated 23 VA loans during 2023. The total origination value was $10,075,000, with an average VA loan value of $438,043.

    Ketchikan VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Ketchikan averaged 6.58% for the week of 2024-05-03, compared to the national average (all VA variants) of 6.775% for the same period.

    Ketchikan's average VA mortgage closing costs are $8,409.

    The average rate for the prior week (2024-04-26) was 6.95% and one month ago for the week of 2024-03-29, the average rate was 6.27%.

    The average rate one year ago was 6.29%.

    For refis of the same type during the week of 2024-05-03, the average rate was 6.78%.

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

    Ketchikan 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 Ketchikan level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 6 7.27% $10,227
    RESIDENTIAL BANCORP 2 7.00% $11,791
    CORNERSTONE HOME LENDING, INC. 2 6.13% $25,368
    MOVEMENT MORTGAGE, LLC 2 6.38% $20,978
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 8.25% $9,905
    LOANDEPOT.COM, LLC 1 6.99% $7,248
    CARDINAL FINANCIAL 1 5.75% $8,908
    Barrington Bank & Trust Company, N.A. 1 5.75% $27,606
    NAVY FEDERAL CREDIT UNION 1 5.88% $3,520
    ON Q FINANCIAL, INC. 1 7.75% $9,504
    PENNYMAC LOAN SERVICES, LLC 1 5.13% $9,318
    CMG MORTGAGE, INC. 1 5.50% $4,986
    QUICKEN LOANS, LLC 1 5.99% $16,381

    The top Ketchikan VA lender as defined by loan originations is Mortgage Research Center, LLC, with 6 VA loans originated. Their average total fees are $10,227, which is $1,564 lower than the next largest lender, RESIDENTIAL BANCORP.

    The lowest fee Ketchikan VA lenders (with over 10 loans originated) are .

    The lowest rate Ketchikan VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Ketchikan (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 $183,500 (-34.0%) $265,974 (-43.2%) 0.00 84
    2018-02-01 $213,750 (-22.3%) $271,979 (-42.0%) 0.00 79
    2018-03-01 $235,000 (-11.2%) $284,151 (-39.5%) 0.00 83
    2018-04-01 $239,875 (-9.5%) $300,361 (-30.5%) 0.00 69
    2018-05-01 $264,738 (-6.8%) $312,331 (-32.4%) 0.00 68
    2018-06-01 $315,000 (15.3%) $380,631 (-21.6%) 0.00 80
    2018-07-01 $295,000 (11.3%) $403,486 (-14.5%) 0.00 99
    2018-08-01 $304,875 (14.0%) $408,226 (-10.1%) 0.00 96
    2018-09-01 $319,500 (25.3%) $394,585 (-8.5%) 0.00 88
    2018-10-01 $281,000 (12.2%) $345,717 (-13.3%) 0.00 85
    2018-11-01 $297,250 (20.0%) $361,831 (-9.5%) 0.00 71
    2018-12-01 $269,000 (8.5%) $347,768 (-13.8%) 0.00 72
    2019-01-01 $269,000 (46.6%) $307,421 (15.6%) 0.00 68
    2019-02-01 $269,000 (25.9%) $314,991 (15.8%) 0.00 66
    2019-03-01 $292,786 (24.6%) $324,333 (14.1%) 0.00 64
    2019-04-01 $315,536 (31.5%) $333,653 (11.1%) 0.00 61
    2019-05-01 $324,500 (22.6%) $319,772 (2.4%) 0.00 65
    2019-06-01 $329,000 (4.4%) $335,244 (-11.9%) 0.00 68
    2019-07-01 $326,625 (10.7%) $329,245 (-18.4%) 0.00 66
    2019-08-01 $307,918 (1.0%) $319,767 (-21.7%) 0.00 72
    2019-09-01 $297,670 (-6.8%) $308,633 (-21.8%) 0.00 75
    2019-10-01 $289,475 (3.0%) $297,378 (-14.0%) 0.00 78
    2019-11-01 $287,000 (-3.5%) $284,492 (-21.4%) 0.00 76
    2019-12-01 $277,750 (3.3%) $274,512 (-21.1%) 0.00 67
    2020-01-01 $276,250 (2.7%) $281,623 (-8.4%) 0.00 67
    2020-02-01 $284,000 (5.6%) $283,261 (-10.1%) 0.00 69
    2020-03-01 $249,750 (-14.7%) $273,511 (-15.7%) 0.00 67
    2020-04-01 $257,000 (-18.6%) $288,260 (-13.6%) 0.00 69
    2020-05-01 $284,000 (-12.5%) $304,098 (-4.9%) 0.00 75
    2020-06-01 $290,500 (-11.7%) $304,296 (-9.2%) 0.00 81
    2020-07-01 $271,250 (-17.0%) $292,034 (-11.3%) 0.00 82
    2020-08-01 $298,500 (-3.1%) $312,482 (-2.3%) 0.00 72
    2020-09-01 $290,250 (-2.5%) $307,155 (-0.5%) 0.00 74
    2020-10-01 $245,000 (-15.4%) $292,748 (-1.6%) 0.00 80
    2020-11-01 $247,500 (-13.8%) $296,676 (4.3%) 0.00 73
    2020-12-01 $263,625 (-5.1%) $308,187 (12.3%) 0.00 66
    2021-01-01 $290,000 (5.0%) $325,716 (15.7%) 0.00 45
    2021-02-01 $346,250 (21.9%) $406,779 (43.6%) 0.00 35
    2021-03-01 $344,750 (38.0%) $397,403 (45.3%) 0.00 35
    2021-04-01 $345,250 (34.3%) $366,716 (27.2%) 0.00 43
    2021-05-01 $335,000 (18.0%) $338,842 (11.4%) 0.00 51
    2021-06-01 $325,000 (11.9%) $351,524 (15.5%) 0.00 51
    2021-07-01 $341,000 (25.7%) $377,221 (29.2%) 0.00 53
    2021-08-01 $376,500 (26.1%) $382,250 (22.3%) 0.00 54
    2021-09-01 $394,375 (35.9%) $381,380 (24.2%) 0.00 43
    2021-10-01 $359,000 (46.5%) $380,564 (30.0%) 0.00 36
    2021-11-01 $309,250 (25.0%) $373,058 (25.8%) 0.00 29
    2021-12-01 $374,250 (42.0%) $399,918 (29.8%) 0.00 27
    2022-01-01 $399,000 (37.6%) $407,704 (25.2%) 0.00 20
    2022-02-01 $420,625 (21.5%) $425,572 (4.6%) 0.00 24
    2022-03-01 $485,000 (40.7%) $417,913 (5.2%) 0.00 24
    2022-04-01 $344,750 (-0.1%) $423,690 (15.5%) 0.00 22
    2022-05-01 $406,500 (21.3%) $453,378 (33.8%) 0.00 23
    2022-06-01 $428,750 (31.9%) $454,792 (29.4%) 0.00 14
    2022-07-01 $399,000 (17.0%) $378,633 (0.4%) 0.00 21
    2022-08-01 $449,250 (19.3%) $408,429 (6.9%) 0.00 23
    2022-09-01 $438,250 (11.1%) $399,342 (4.7%) 0.00 28
    2022-10-01 $435,250 (21.2%) $421,672 (10.8%) 0.00 30
    2022-11-01 $405,000 (31.0%) $377,243 (1.1%) 0.00 29
    2022-12-01 $389,000 (3.9%) $387,426 (-3.1%) 0.00 29
    2023-01-01 $395,500 (-0.9%) $380,359 (-6.7%) 0.00 28
    2023-02-01 $388,000 (-7.8%) $391,920 (-7.9%) 0.00 24
    2023-03-01 $429,500 (-11.4%) $412,743 (-1.2%) 0.00 27
    2023-04-01 $449,000 (30.2%) $433,771 (2.4%) 0.00 33
    2023-05-01 $439,000 (8.0%) $446,701 (-1.5%) 0.00 38
    2023-06-01 $422,000 (-1.6%) $425,327 (-6.5%) 0.00 38
    2023-07-01 $415,000 (4.0%) $419,570 (10.8%) 0.00 41
    2023-08-01 $394,000 (-12.3%) $388,694 (-4.8%) 0.00 41
    2023-09-01 $420,000 (-4.2%) $416,048 (4.2%) 0.00 39
    2023-10-01 $407,250 (-6.4%) $423,179 (0.4%) 0.00 39
    2023-11-01 $429,000 (5.9%) $433,033 (14.8%) 0.00 37
    2023-12-01 $450,000 (15.7%) $452,313 (16.8%) 0.00 33
    2024-01-01 $449,500 (13.7%) $441,500 (16.1%) 0.00 28
    2024-02-01 $434,500 (12.0%) $414,513 (5.8%) 0.00 31
    2024-03-01 $445,000 (3.6%) $448,181 (8.6%) 0.00 35
    2024-04-01 $456,500 (1.7%) $481,187 (10.9%) 0.00 41
    Ketchikan's median listing price for 2024-04-01 was $456,500, a difference of $7,500 (1.7%) versus the prior year and $11,500 versus the prior month.

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

    Ketchikan's average listing price for 2024-04-01 was $481,187, a difference of $47,416 (10.9%) versus the prior year and $33,006 versus the prior month.

    For the 2024-04-01 period, Ketchikan had 41 MLS listings, a difference of 6 listings (17%) versus the prior month and 8 listings (24%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Ketchikan (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,379 sqft
    2018-02-01 0 days 1,500 sqft
    2018-03-01 0 days 1,501 sqft
    2018-04-01 0 days 1,500 sqft
    2018-05-01 0 days 1,505 sqft
    2018-06-01 0 days 1,647 sqft
    2018-07-01 0 days 1,709 sqft
    2018-08-01 0 days 1,773 sqft
    2018-09-01 0 days 1,730 sqft
    2018-10-01 0 days 1,624 sqft
    2018-11-01 0 days 1,612 sqft
    2018-12-01 0 days 1,440 sqft
    2019-01-01 0 days 1,357 sqft
    2019-02-01 0 days 1,440 sqft
    2019-03-01 0 days 1,521 sqft
    2019-04-01 0 days 1,655 sqft
    2019-05-01 0 days 1,668 sqft
    2019-06-01 0 days 1,636 sqft
    2019-07-01 0 days 1,637 sqft
    2019-08-01 0 days 1,583 sqft
    2019-09-01 0 days 1,502 sqft
    2019-10-01 0 days 1,413 sqft
    2019-11-01 0 days 1,300 sqft
    2019-12-01 0 days 1,243 sqft
    2020-01-01 0 days 1,329 sqft
    2020-02-01 0 days 1,260 sqft
    2020-03-01 0 days 1,218 sqft
    2020-04-01 0 days 1,225 sqft
    2020-05-01 0 days 1,440 sqft
    2020-06-01 0 days 1,466 sqft
    2020-07-01 0 days 1,453 sqft
    2020-08-01 0 days 1,636 sqft
    2020-09-01 0 days 1,508 sqft
    2020-10-01 0 days 1,352 sqft
    2020-11-01 0 days 1,398 sqft
    2020-12-01 0 days 1,296 sqft
    2021-01-01 0 days 1,296 sqft
    2021-02-01 0 days 1,429 sqft
    2021-03-01 0 days 1,496 sqft
    2021-04-01 0 days 1,500 sqft
    2021-05-01 0 days 1,473 sqft
    2021-06-01 0 days 1,477 sqft
    2021-07-01 0 days 1,541 sqft
    2021-08-01 0 days 1,593 sqft
    2021-09-01 0 days 1,482 sqft
    2021-10-01 0 days 1,620 sqft
    2021-11-01 0 days 1,610 sqft
    2021-12-01 0 days 1,598 sqft
    2022-01-01 0 days 1,753 sqft
    2022-02-01 0 days 1,733 sqft
    2022-03-01 0 days 1,791 sqft
    2022-04-01 0 days 1,461 sqft
    2022-05-01 0 days 1,598 sqft
    2022-06-01 0 days 1,780 sqft
    2022-07-01 0 days 1,874 sqft
    2022-08-01 0 days 1,890 sqft
    2022-09-01 0 days 1,832 sqft
    2022-10-01 0 days 1,703 sqft
    2022-11-01 0 days 1,537 sqft
    2022-12-01 0 days 1,584 sqft
    2023-01-01 0 days 1,705 sqft
    2023-02-01 0 days 1,494 sqft
    2023-03-01 0 days 1,446 sqft
    2023-04-01 0 days 1,422 sqft
    2023-05-01 0 days 1,370 sqft
    2023-06-01 0 days 1,273 sqft
    2023-07-01 0 days 1,344 sqft
    2023-08-01 0 days 1,363 sqft
    2023-09-01 0 days 1,451 sqft
    2023-10-01 0 days 1,393 sqft
    2023-11-01 0 days 1,474 sqft
    2023-12-01 0 days 1,446 sqft
    2024-01-01 0 days 1,446 sqft
    2024-02-01 0 days 1,420 sqft
    2024-03-01 0 days 1,716 sqft
    2024-04-01 0 days 1,820 sqft
    Ketchikan's median listing age (time on market) for 2024-04-01 was 0 days.

    Ketchikan's median square footage for active listings during the 2024-04-01 period was 1,820 sqft. One year prior, the average listing was 1,422 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.