Key West VA Loan Rates, Closing Costs & Stats

Key West, FL

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    • 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.

    Key West's 29 lenders originated 72 VA loans during 2023. The total origination value was $48,680,000, with an average VA loan value of $676,111.

    Key West VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Key West averaged 6.63% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Key West's average VA mortgage closing costs are $10,845.

    The average rate for the prior week (2025-02-07) was 6.57% and one month ago for the week of 2025-01-10, the average rate was 6.6%.

    The average rate one year ago was 6.73%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.43%.

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

    Key West 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 Key West level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 15 6.21% $13,844
    First Horizon Bank 9 6.18% $24,226
    QUICKEN LOANS, LLC 6 6.39% $17,077
    Mortgage Research Center, LLC 4 6.87% $16,825
    NAVY FEDERAL CREDIT UNION 4 5.59% $12,636
    Centennial Bank 2 6.50% $9,309
    USAA Federal Savings Bank 2 6.25% $11,623
    Paramount Residential Mortgage Group, Inc. 2 5.50% $7,766
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $22,007
    DYBN FINANCIAL CORP. 1 6.75% $15,774
    EMM LOANS LLC 1 6.75% $9,920
    FIRST HOME MORTGAGE CORPORATION 1 6.13% $50,826
    Flagstar Bank, FSB 1 6.50% $15,056
    HOMESTEAD FUNDING CORP. 1 5.88% $12,367
    MASON MCDUFFIE MORTGAGE CORPORATION 1 7.00% $13,338
    PENTAGON FEDERAL CREDIT UNION 1 5.13% $6,838
    STOCKTON MORTGAGE CORPORATION 1 6.25% $9,637
    Truist 1 6.63% $16,454
    UNION HOME MORTGAGE CORP. 1 6.38% $9,901
    U.S. Bank 1 6.50% $5,140
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.75% $16,534
    VILLAGE CAPITAL MORTGAGE 1 6.63% $1,064
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.00% $1,062
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.63% $4,974
    AMERISAVE MORTGAGE CORPORATION 1 5.63% $9,838
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.38% $10,706
    AXIA FINANCIAL, LLC 1 5.50% $22,741
    BROKER SOLUTIONS, INC. 1 6.25% $26,469
    CHURCHILL MORTGAGE CORPORATION 1 5.63% $10,947

    The top Key West VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 15 VA loans originated. Their average total fees are $13,844, which is $10,382 lower than the next largest lender, First Horizon Bank.

    The lowest fee Key West VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($13,844), .

    The lowest rate Key West VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.21%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Key West (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 $704,750 (14.0%) $1,328,843 (25.9%) 0.00 1,487
    2018-02-01 $699,475 (12.6%) $1,345,139 (27.5%) 0.00 1,533
    2018-03-01 $699,000 (11.6%) $1,344,064 (27.0%) 0.00 1,616
    2018-04-01 $699,475 (5.2%) $1,353,822 (12.5%) 0.00 1,631
    2018-05-01 $699,000 (3.6%) $1,341,537 (11.7%) 0.00 1,595
    2018-06-01 $699,000 (3.1%) $1,323,883 (8.2%) 0.00 1,588
    2018-07-01 $699,000 (3.6%) $1,315,239 (5.9%) 0.00 1,611
    2018-08-01 $699,000 (4.4%) $1,315,244 (5.7%) 0.00 1,581
    2018-09-01 $699,000 (3.6%) $1,314,290 (4.7%) 0.00 1,547
    2018-10-01 $699,000 (3.9%) $1,301,814 (0.8%) 0.00 1,589
    2018-11-01 $729,250 (4.3%) $1,325,866 (1.0%) 0.00 1,717
    2018-12-01 $729,000 (4.3%) $1,326,002 (1.2%) 0.00 1,824
    2019-01-01 $728,625 (3.4%) $1,312,001 (-1.3%) 0.00 1,931
    2019-02-01 $722,500 (3.3%) $1,294,392 (-3.8%) 0.00 2,016
    2019-03-01 $735,286 (5.2%) $1,308,788 (-2.6%) 0.00 1,969
    2019-04-01 $749,000 (7.1%) $1,326,716 (-2.0%) 0.00 1,889
    2019-05-01 $768,000 (9.9%) $1,371,051 (2.2%) 0.00 1,797
    2019-06-01 $750,000 (7.3%) $1,355,550 (2.4%) 0.00 1,735
    2019-07-01 $759,750 (8.7%) $1,366,157 (3.9%) 0.00 1,693
    2019-08-01 $780,236 (11.6%) $1,396,131 (6.2%) 0.00 1,609
    2019-09-01 $788,541 (12.8%) $1,437,834 (9.4%) 0.00 1,509
    2019-10-01 $795,000 (13.7%) $1,473,775 (13.2%) 0.00 1,433
    2019-11-01 $799,000 (9.6%) $1,484,099 (11.9%) 0.00 1,504
    2019-12-01 $799,000 (9.6%) $1,499,748 (13.1%) 0.00 1,617
    2020-01-01 $802,350 (10.1%) $1,515,338 (15.5%) 0.00 1,650
    2020-02-01 $799,000 (10.6%) $1,484,825 (14.7%) 0.00 1,748
    2020-03-01 $799,475 (8.7%) $1,505,420 (15.0%) 0.00 1,755
    2020-04-01 $799,000 (6.7%) $1,490,227 (12.3%) 0.00 1,678
    2020-05-01 $799,000 (4.0%) $1,512,138 (10.3%) 0.00 1,610
    2020-06-01 $799,225 (6.6%) $1,534,031 (13.2%) 0.00 1,496
    2020-07-01 $822,500 (8.3%) $1,589,419 (16.3%) 0.00 1,385
    2020-08-01 $849,000 (8.8%) $1,628,983 (16.7%) 0.00 1,233
    2020-09-01 $867,000 (10.0%) $1,666,410 (15.9%) 0.00 1,186
    2020-10-01 $849,250 (6.8%) $1,693,184 (14.9%) 0.00 1,150
    2020-11-01 $875,000 (9.5%) $1,734,056 (16.8%) 0.00 1,099
    2020-12-01 $857,000 (7.3%) $1,749,362 (16.6%) 0.00 1,043
    2021-01-01 $864,000 (7.7%) $1,804,015 (19.1%) 0.00 977
    2021-02-01 $860,000 (7.6%) $1,797,728 (21.1%) 0.00 812
    2021-03-01 $878,750 (9.9%) $1,803,779 (19.8%) 0.00 699
    2021-04-01 $890,625 (11.5%) $1,904,633 (27.8%) 0.00 594
    2021-05-01 $995,000 (24.5%) $2,032,472 (34.4%) 0.00 512
    2021-06-01 $1,050,000 (31.4%) $2,069,082 (34.9%) 0.00 512
    2021-07-01 $1,100,000 (33.7%) $2,107,807 (32.6%) 0.00 517
    2021-08-01 $1,116,382 (31.5%) $2,062,732 (26.6%) 0.00 530
    2021-09-01 $1,161,000 (33.9%) $2,103,248 (26.2%) 0.00 545
    2021-10-01 $1,162,500 (36.9%) $2,046,936 (20.9%) 0.00 543
    2021-11-01 $1,212,500 (38.6%) $2,129,689 (22.8%) 0.00 525
    2021-12-01 $1,200,000 (40.0%) $2,112,171 (20.7%) 0.00 499
    2022-01-01 $1,214,500 (40.6%) $2,098,812 (16.3%) 0.00 487
    2022-02-01 $1,311,000 (52.4%) $2,130,723 (18.5%) 0.00 456
    2022-03-01 $1,275,000 (45.1%) $2,138,833 (18.6%) 0.00 445
    2022-04-01 $1,295,000 (45.4%) $2,108,246 (10.7%) 0.00 436
    2022-05-01 $1,362,500 (36.9%) $2,514,157 (23.7%) 0.00 501
    2022-06-01 $1,325,000 (26.2%) $2,549,680 (23.2%) 0.00 545
    2022-07-01 $1,299,000 (18.1%) $2,470,506 (17.2%) 0.00 622
    2022-08-01 $1,289,250 (15.5%) $2,383,808 (15.6%) 0.00 656
    2022-09-01 $1,262,500 (8.7%) $2,396,227 (13.9%) 0.00 660
    2022-10-01 $1,299,000 (11.7%) $2,425,642 (18.5%) 0.00 662
    2022-11-01 $1,350,000 (11.3%) $2,425,276 (13.9%) 0.00 722
    2022-12-01 $1,350,000 (12.5%) $2,407,096 (14.0%) 0.00 773
    2023-01-01 $1,416,225 (16.6%) $2,454,050 (16.9%) 0.00 818
    2023-02-01 $1,472,500 (12.3%) $2,509,966 (17.8%) 0.00 839
    2023-03-01 $1,489,750 (16.8%) $2,557,970 (19.6%) 0.00 848
    2023-04-01 $1,499,000 (15.8%) $2,571,736 (22.0%) 0.00 828
    2023-05-01 $1,496,250 (9.8%) $2,373,267 (-5.6%) 0.00 800
    2023-06-01 $1,477,500 (11.5%) $2,388,998 (-6.3%) 0.00 795
    2023-07-01 $1,400,000 (7.8%) $2,436,653 (-1.4%) 0.00 804
    2023-08-01 $1,425,000 (10.5%) $2,419,602 (1.5%) 0.00 827
    2023-09-01 $1,395,000 (10.5%) $2,388,591 (-0.3%) 0.00 814
    2023-10-01 $1,362,500 (4.9%) $2,407,417 (-0.8%) 0.00 868
    2023-11-01 $1,387,500 (2.8%) $2,429,315 (0.2%) 0.00 991
    2023-12-01 $1,392,500 (3.2%) $2,403,316 (-0.2%) 0.00 1,091
    2024-01-01 $1,396,000 (-1.4%) $2,400,445 (-2.2%) 0.00 1,153
    2024-02-01 $1,384,085 (-6.0%) $2,405,172 (-4.2%) 0.00 1,241
    2024-03-01 $1,350,000 (-9.4%) $2,470,933 (-3.4%) 0.00 1,306
    2024-04-01 $1,300,000 (-13.3%) $2,410,666 (-6.3%) 0.00 1,306
    2024-05-01 $1,350,000 (-9.8%) $2,416,307 (1.8%) 0.00 1,254
    2024-06-01 $1,300,000 (-12.0%) $2,355,220 (-1.4%) 0.00 1,257
    2024-07-01 $1,283,700 (-8.3%) $2,377,342 (-2.4%) 0.00 1,220
    2024-08-01 $1,275,000 (-10.5%) $2,354,881 (-2.7%) 0.00 1,170
    2024-09-01 $1,250,000 (-10.4%) $2,349,199 (-1.7%) 0.00 1,135
    2024-10-01 $1,262,250 (-7.4%) $2,403,942 (-0.1%) 0.00 1,149
    2024-11-01 $1,275,000 (-8.1%) $2,452,977 (1.0%) 0.00 1,269
    2024-12-01 $1,299,000 (-6.7%) $2,432,871 (1.2%) 0.00 1,366
    2025-01-01 $1,312,495 (-6.0%) $2,400,628 (0.0%) 0.00 1,431
    Key West's median listing price for 2025-01-01 was $1,312,495, a difference of $-83,505 (-6.0%) versus the prior year and $13,495 versus the prior month.

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

    Key West's average listing price for 2025-01-01 was $2,400,628, a difference of $183 (0.0%) versus the prior year and $-32,243 versus the prior month.

    For the 2025-01-01 period, Key West had 1,431 MLS listings, a difference of 65 listings (5%) versus the prior month and 278 listings (24%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Key West (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,498 sqft
    2018-02-01 0 days 1,500 sqft
    2018-03-01 0 days 1,500 sqft
    2018-04-01 0 days 1,501 sqft
    2018-05-01 0 days 1,491 sqft
    2018-06-01 0 days 1,494 sqft
    2018-07-01 0 days 1,495 sqft
    2018-08-01 0 days 1,493 sqft
    2018-09-01 0 days 1,490 sqft
    2018-10-01 0 days 1,480 sqft
    2018-11-01 0 days 1,498 sqft
    2018-12-01 0 days 1,480 sqft
    2019-01-01 0 days 1,492 sqft
    2019-02-01 0 days 1,507 sqft
    2019-03-01 0 days 1,522 sqft
    2019-04-01 0 days 1,546 sqft
    2019-05-01 0 days 1,563 sqft
    2019-06-01 0 days 1,530 sqft
    2019-07-01 0 days 1,521 sqft
    2019-08-01 0 days 1,535 sqft
    2019-09-01 0 days 1,552 sqft
    2019-10-01 0 days 1,568 sqft
    2019-11-01 0 days 1,578 sqft
    2019-12-01 0 days 1,573 sqft
    2020-01-01 0 days 1,580 sqft
    2020-02-01 0 days 1,570 sqft
    2020-03-01 0 days 1,572 sqft
    2020-04-01 0 days 1,563 sqft
    2020-05-01 0 days 1,552 sqft
    2020-06-01 0 days 1,553 sqft
    2020-07-01 0 days 1,544 sqft
    2020-08-01 0 days 1,550 sqft
    2020-09-01 0 days 1,550 sqft
    2020-10-01 0 days 1,524 sqft
    2020-11-01 0 days 1,519 sqft
    2020-12-01 0 days 1,496 sqft
    2021-01-01 0 days 1,515 sqft
    2021-02-01 0 days 1,480 sqft
    2021-03-01 0 days 1,487 sqft
    2021-04-01 0 days 1,537 sqft
    2021-05-01 0 days 1,650 sqft
    2021-06-01 0 days 1,671 sqft
    2021-07-01 0 days 1,601 sqft
    2021-08-01 0 days 1,592 sqft
    2021-09-01 0 days 1,589 sqft
    2021-10-01 0 days 1,565 sqft
    2021-11-01 0 days 1,567 sqft
    2021-12-01 0 days 1,557 sqft
    2022-01-01 0 days 1,550 sqft
    2022-02-01 0 days 1,650 sqft
    2022-03-01 0 days 1,604 sqft
    2022-04-01 0 days 1,596 sqft
    2022-05-01 0 days 1,625 sqft
    2022-06-01 0 days 1,593 sqft
    2022-07-01 0 days 1,540 sqft
    2022-08-01 0 days 1,547 sqft
    2022-09-01 0 days 1,535 sqft
    2022-10-01 0 days 1,532 sqft
    2022-11-01 0 days 1,528 sqft
    2022-12-01 0 days 1,535 sqft
    2023-01-01 0 days 1,543 sqft
    2023-02-01 0 days 1,568 sqft
    2023-03-01 0 days 1,612 sqft
    2023-04-01 0 days 1,628 sqft
    2023-05-01 0 days 1,600 sqft
    2023-06-01 0 days 1,581 sqft
    2023-07-01 0 days 1,576 sqft
    2023-08-01 0 days 1,599 sqft
    2023-09-01 0 days 1,570 sqft
    2023-10-01 0 days 1,546 sqft
    2023-11-01 0 days 1,549 sqft
    2023-12-01 0 days 1,572 sqft
    2024-01-01 0 days 1,582 sqft
    2024-02-01 0 days 1,568 sqft
    2024-03-01 0 days 1,549 sqft
    2024-04-01 0 days 1,538 sqft
    2024-05-01 0 days 1,546 sqft
    2024-06-01 0 days 1,536 sqft
    2024-07-01 0 days 1,509 sqft
    2024-08-01 0 days 1,507 sqft
    2024-09-01 0 days 1,512 sqft
    2024-10-01 0 days 1,512 sqft
    2024-11-01 0 days 1,502 sqft
    2024-12-01 0 days 1,509 sqft
    2025-01-01 0 days 1,524 sqft
    Key West's median listing age (time on market) for 2025-01-01 was 0 days.

    Key West's median square footage for active listings during the 2025-01-01 period was 1,524 sqft. One year prior, the average listing was 1,582 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.