Knoxville VA Loan Rates, Closing Costs & Stats
KNOXVILLE, 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.
Knoxville's 130 lenders originated 1,340 VA loans during 2023. The total origination value was $479,870,000, with an average VA loan value of $358,112.
Knoxville VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Knoxville
averaged
6.18%
for the week of 2024-12-13, compared to the national average (all VA variants) of
6.077% for the same period.
Knoxville's average VA mortgage closing costs are $6,210.
The average rate for the prior week (2024-12-06) was
6.32% and
one month ago for the week of 2024-11-08, the
average rate was 6.51%.
The average rate one year ago was 6.56%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.3%.
Knoxville 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 Knoxville level.
The top Knoxville VA lender as defined by loan originations is Mortgage Research Center, LLC, with
206 VA loans originated. Their average total fees are
$6,638, which is $1,696
lower than the next largest lender,
MORTGAGE INVESTORS GROUP, INC..
The lowest fee Knoxville VA lenders (with over 10 loans originated) are
MORTGAGE SOLUTIONS OF COLORADO, LLC ($4,810), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,135), Mortgage Research Center, LLC ($6,638), NAVY FEDERAL CREDIT UNION ($6,878) and DHI MORTGAGE COMPANY, LTD. ($7,079).
The lowest rate Knoxville VA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (5.50%), NAVY FEDERAL CREDIT UNION (5.73%), AMERISAVE MORTGAGE CORPORATION (5.78%), FIRST COMMUNITY MORTGAGE, INC. (5.89%) and LOANDEPOT.COM, LLC (6.12%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Knoxville (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 | $250,710 (14.0%) | $347,981 (10.1%) | 0.93 | 3,368 |
2018-02-01 | $254,130 (11.0%) | $353,616 (9.6%) | 0.92 | 3,181 |
2018-03-01 | $265,000 (12.4%) | $374,873 (13.4%) | 0.93 | 3,145 |
2018-04-01 | $275,450 (10.2%) | $383,394 (10.7%) | 0.93 | 3,191 |
2018-05-01 | $279,900 (12.0%) | $391,135 (12.2%) | 0.93 | 3,258 |
2018-06-01 | $279,900 (12.0%) | $391,548 (13.0%) | 0.93 | 3,361 |
2018-07-01 | $274,900 (10.0%) | $386,225 (11.6%) | 0.92 | 3,569 |
2018-08-01 | $269,900 (8.0%) | $379,696 (5.1%) | 0.90 | 3,622 |
2018-09-01 | $267,700 (5.0%) | $377,145 (4.0%) | 0.90 | 3,658 |
2018-10-01 | $262,450 (5.0%) | $376,717 (7.0%) | 0.89 | 3,666 |
2018-11-01 | $264,675 (3.7%) | $382,763 (9.6%) | 0.90 | 3,505 |
2018-12-01 | $260,000 (4.0%) | $376,296 (8.5%) | 0.90 | 3,273 |
2019-01-01 | $267,000 (6.5%) | $377,704 (8.5%) | 0.92 | 2,978 |
2019-02-01 | $269,675 (6.1%) | $381,865 (8.0%) | 0.91 | 2,895 |
2019-03-01 | $278,500 (5.1%) | $385,815 (2.9%) | 0.91 | 2,877 |
2019-04-01 | $292,450 (6.2%) | $391,332 (2.1%) | 0.93 | 2,863 |
2019-05-01 | $299,338 (6.9%) | $396,624 (1.4%) | 0.94 | 2,890 |
2019-06-01 | $299,900 (7.2%) | $398,428 (1.8%) | 0.94 | 2,970 |
2019-07-01 | $299,900 (9.1%) | $405,134 (4.9%) | 0.94 | 2,962 |
2019-08-01 | $295,809 (9.6%) | $403,170 (6.2%) | 0.94 | 2,992 |
2019-09-01 | $289,673 (8.2%) | $396,205 (5.1%) | 0.93 | 3,019 |
2019-10-01 | $285,000 (8.6%) | $391,063 (3.8%) | 0.92 | 3,016 |
2019-11-01 | $285,000 (7.7%) | $398,829 (4.2%) | 0.93 | 2,903 |
2019-12-01 | $283,325 (9.0%) | $397,309 (5.6%) | 0.94 | 2,679 |
2020-01-01 | $280,774 (5.2%) | $405,506 (7.4%) | 0.94 | 2,428 |
2020-02-01 | $287,000 (6.4%) | $413,781 (8.4%) | 0.94 | 2,275 |
2020-03-01 | $302,450 (8.6%) | $424,088 (9.9%) | 0.95 | 2,139 |
2020-04-01 | $299,950 (2.6%) | $413,846 (5.8%) | 0.94 | 2,257 |
2020-05-01 | $311,750 (4.2%) | $429,515 (8.3%) | 0.95 | 2,142 |
2020-06-01 | $324,975 (8.4%) | $445,896 (11.9%) | 0.96 | 1,915 |
2020-07-01 | $329,900 (10.0%) | $453,820 (12.0%) | 0.96 | 1,706 |
2020-08-01 | $329,950 (11.5%) | $445,692 (10.6%) | 0.95 | 1,595 |
2020-09-01 | $322,450 (11.3%) | $441,555 (11.5%) | 0.92 | 1,462 |
2020-10-01 | $319,900 (12.3%) | $441,092 (12.8%) | 0.92 | 1,469 |
2020-11-01 | $310,000 (8.8%) | $442,136 (10.9%) | 0.91 | 1,494 |
2020-12-01 | $301,974 (6.6%) | $435,600 (9.6%) | 0.90 | 1,308 |
2021-01-01 | $312,423 (11.3%) | $447,938 (10.5%) | 0.93 | 1,107 |
2021-02-01 | $310,000 (8.0%) | $460,937 (11.4%) | 0.90 | 836 |
2021-03-01 | $307,495 (1.7%) | $469,664 (10.8%) | 0.87 | 719 |
2021-04-01 | $327,450 (9.2%) | $484,829 (17.2%) | 0.89 | 655 |
2021-05-01 | $335,000 (7.5%) | $479,752 (11.7%) | 0.89 | 743 |
2021-06-01 | $340,675 (4.8%) | $479,017 (7.4%) | 0.90 | 884 |
2021-07-01 | $325,000 (-1.5%) | $460,289 (1.4%) | 0.86 | 1,009 |
2021-08-01 | $329,950 (0.0%) | $479,951 (7.7%) | 0.88 | 1,121 |
2021-09-01 | $328,725 (2.0%) | $484,328 (9.7%) | 0.88 | 1,114 |
2021-10-01 | $325,000 (1.6%) | $488,442 (10.7%) | 0.87 | 1,127 |
2021-11-01 | $332,450 (7.2%) | $507,093 (14.7%) | 0.89 | 1,004 |
2021-12-01 | $339,675 (12.5%) | $516,086 (18.5%) | 0.92 | 836 |
2022-01-01 | $350,000 (12.0%) | $542,330 (21.1%) | 0.95 | 692 |
2022-02-01 | $375,000 (21.0%) | $553,780 (20.1%) | 0.98 | 590 |
2022-03-01 | $367,725 (19.6%) | $544,670 (16.0%) | 0.92 | 666 |
2022-04-01 | $389,000 (18.8%) | $548,033 (13.0%) | 0.93 | 753 |
2022-05-01 | $399,950 (19.4%) | $567,467 (18.3%) | 0.91 | 1,006 |
2022-06-01 | $400,000 (17.4%) | $549,180 (14.7%) | 0.89 | 1,287 |
2022-07-01 | $415,000 (27.7%) | $541,012 (17.5%) | 0.93 | 1,537 |
2022-08-01 | $413,725 (25.4%) | $546,739 (13.9%) | 0.96 | 1,604 |
2022-09-01 | $423,675 (28.9%) | $555,996 (14.8%) | 0.99 | 1,657 |
2022-10-01 | $425,000 (30.8%) | $548,086 (12.2%) | 1.00 | 1,749 |
2022-11-01 | $425,000 (27.8%) | $546,698 (7.8%) | 1.02 | 1,789 |
2022-12-01 | $429,900 (26.6%) | $553,001 (7.2%) | 1.06 | 1,534 |
2023-01-01 | $440,088 (25.7%) | $556,593 (2.6%) | 1.09 | 1,368 |
2023-02-01 | $457,116 (21.9%) | $571,793 (3.3%) | 1.10 | 1,184 |
2023-03-01 | $469,625 (27.7%) | $583,758 (7.2%) | 1.11 | 1,132 |
2023-04-01 | $480,000 (23.4%) | $613,870 (12.0%) | 1.12 | 1,074 |
2023-05-01 | $484,925 (21.3%) | $641,597 (13.1%) | 1.10 | 1,115 |
2023-06-01 | $475,000 (18.8%) | $657,687 (19.8%) | 1.07 | 1,236 |
2023-07-01 | $475,000 (14.5%) | $660,471 (22.1%) | 1.08 | 1,384 |
2023-08-01 | $481,225 (16.3%) | $672,121 (22.9%) | 1.11 | 1,486 |
2023-09-01 | $475,000 (12.1%) | $672,754 (21.0%) | 1.11 | 1,608 |
2023-10-01 | $474,002 (11.5%) | $644,660 (17.6%) | 1.12 | 1,854 |
2023-11-01 | $462,338 (8.8%) | $637,975 (16.7%) | 1.10 | 1,957 |
2023-12-01 | $459,900 (7.0%) | $623,601 (12.8%) | 1.12 | 1,947 |
2024-01-01 | $457,725 (4.0%) | $630,485 (13.3%) | 1.12 | 1,797 |
2024-02-01 | $457,450 (0.1%) | $642,767 (12.4%) | 1.10 | 1,636 |
2024-03-01 | $450,000 (-4.2%) | $641,744 (9.9%) | 1.06 | 1,652 |
2024-04-01 | $462,975 (-3.6%) | $659,604 (7.5%) | 1.08 | 1,728 |
2024-05-01 | $492,500 (1.6%) | $686,688 (7.0%) | 1.11 | 1,889 |
2024-06-01 | $475,000 (0.0%) | $666,681 (1.4%) | 1.07 | 2,084 |
2024-07-01 | $468,987 (-1.3%) | $629,259 (-4.7%) | 1.07 | 2,292 |
2024-08-01 | $466,000 (-3.2%) | $622,577 (-7.4%) | 1.08 | 2,427 |
2024-09-01 | $454,950 (-4.2%) | $610,126 (-9.3%) | 1.07 | 2,553 |
2024-10-01 | $452,450 (-4.6%) | $606,165 (-6.0%) | 1.06 | 2,618 |
2024-11-01 | $449,999 (-2.7%) | $606,703 (-4.9%) | 1.08 | 2,793 |
Knoxville's median listing price comes in at 108% of the national average.
Knoxville's average listing price for 2024-11-01 was $606,703, a difference of $-31,272 (-4.9%) versus the prior year and $538 versus the prior month.
For the 2024-11-01 period, Knoxville had 2,793 MLS listings, a difference of 175 listings (7%) versus the prior month and 836 listings (43%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Knoxville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 86 days | 2,202 sqft |
2018-02-01 | 82 days | 2,207 sqft |
2018-03-01 | 66 days | 2,272 sqft |
2018-04-01 | 56 days | 2,307 sqft |
2018-05-01 | 53 days | 2,330 sqft |
2018-06-01 | 55 days | 2,321 sqft |
2018-07-01 | 57 days | 2,320 sqft |
2018-08-01 | 59 days | 2,289 sqft |
2018-09-01 | 63 days | 2,269 sqft |
2018-10-01 | 67 days | 2,272 sqft |
2018-11-01 | 71 days | 2,282 sqft |
2018-12-01 | 78 days | 2,241 sqft |
2019-01-01 | 85 days | 2,231 sqft |
2019-02-01 | 78 days | 2,220 sqft |
2019-03-01 | 66 days | 2,264 sqft |
2019-04-01 | 57 days | 2,332 sqft |
2019-05-01 | 54 days | 2,367 sqft |
2019-06-01 | 57 days | 2,388 sqft |
2019-07-01 | 59 days | 2,400 sqft |
2019-08-01 | 59 days | 2,368 sqft |
2019-09-01 | 60 days | 2,320 sqft |
2019-10-01 | 61 days | 2,289 sqft |
2019-11-01 | 64 days | 2,250 sqft |
2019-12-01 | 74 days | 2,223 sqft |
2020-01-01 | 84 days | 2,201 sqft |
2020-02-01 | 75 days | 2,220 sqft |
2020-03-01 | 58 days | 2,269 sqft |
2020-04-01 | 56 days | 2,291 sqft |
2020-05-01 | 60 days | 2,300 sqft |
2020-06-01 | 58 days | 2,309 sqft |
2020-07-01 | 54 days | 2,329 sqft |
2020-08-01 | 50 days | 2,261 sqft |
2020-09-01 | 50 days | 2,225 sqft |
2020-10-01 | 46 days | 2,200 sqft |
2020-11-01 | 47 days | 2,134 sqft |
2020-12-01 | 55 days | 2,081 sqft |
2021-01-01 | 68 days | 2,086 sqft |
2021-02-01 | 75 days | 2,061 sqft |
2021-03-01 | 46 days | 2,003 sqft |
2021-04-01 | 42 days | 2,056 sqft |
2021-05-01 | 32 days | 2,056 sqft |
2021-06-01 | 32 days | 2,083 sqft |
2021-07-01 | 35 days | 2,007 sqft |
2021-08-01 | 35 days | 2,004 sqft |
2021-09-01 | 39 days | 1,994 sqft |
2021-10-01 | 39 days | 1,985 sqft |
2021-11-01 | 42 days | 1,984 sqft |
2021-12-01 | 46 days | 1,978 sqft |
2022-01-01 | 49 days | 2,000 sqft |
2022-02-01 | 36 days | 2,011 sqft |
2022-03-01 | 27 days | 1,983 sqft |
2022-04-01 | 25 days | 2,031 sqft |
2022-05-01 | 25 days | 2,070 sqft |
2022-06-01 | 28 days | 2,117 sqft |
2022-07-01 | 32 days | 2,148 sqft |
2022-08-01 | 37 days | 2,105 sqft |
2022-09-01 | 41 days | 2,127 sqft |
2022-10-01 | 43 days | 2,157 sqft |
2022-11-01 | 48 days | 2,178 sqft |
2022-12-01 | 59 days | 2,182 sqft |
2023-01-01 | 67 days | 2,208 sqft |
2023-02-01 | 53 days | 2,243 sqft |
2023-03-01 | 45 days | 2,230 sqft |
2023-04-01 | 39 days | 2,221 sqft |
2023-05-01 | 36 days | 2,250 sqft |
2023-06-01 | 36 days | 2,237 sqft |
2023-07-01 | 35 days | 2,228 sqft |
2023-08-01 | 40 days | 2,232 sqft |
2023-09-01 | 42 days | 2,200 sqft |
2023-10-01 | 40 days | 2,216 sqft |
2023-11-01 | 44 days | 2,202 sqft |
2023-12-01 | 54 days | 2,169 sqft |
2024-01-01 | 67 days | 2,149 sqft |
2024-02-01 | 64 days | 2,118 sqft |
2024-03-01 | 47 days | 2,083 sqft |
2024-04-01 | 43 days | 2,108 sqft |
2024-05-01 | 38 days | 2,173 sqft |
2024-06-01 | 40 days | 2,151 sqft |
2024-07-01 | 44 days | 2,150 sqft |
2024-08-01 | 46 days | 2,152 sqft |
2024-09-01 | 51 days | 2,143 sqft |
2024-10-01 | 52 days | 2,121 sqft |
2024-11-01 | 55 days | 2,091 sqft |
Knoxville's median square footage for active listings during the 2024-11-01 period was 2,091 sqft. One year prior, the average listing was 2,202 sqft.