Knoxville VA Loans

KNOXVILLE, TN

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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 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 179 lenders originated 4,057 VA loans during 2021. The total origination value was $1,105,925,000, with an average VA loan value of $272,597.

    Knoxville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Knoxville averaged 5.67% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.5% and one month ago for the week of 2022-04-08, the average rate was 4.82%.

    The average rate one year ago was 3.24%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.07%.

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

    Knoxville 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 Knoxville level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    QUICKEN LOANS, LLC 357 2.46% $5,441
    Mortgage Research Center, LLC 315 2.87% $6,190
    MORTGAGE INVESTORS GROUP, INC. 259 2.86% $6,822
    FREEDOM MORTGAGE CORPORATION 257 2.46% $2,989
    PENNYMAC LOAN SERVICES, LLC 246 2.45% $5,326
    FIRST COMMUNITY MORTGAGE, INC. 122 2.73% $5,284
    NEW DAY FINANCIAL, LLC 115 2.77% $8,043
    NAVY FEDERAL CREDIT UNION 101 2.49% $6,436
    UNITED WHOLESALE MORTGAGE, LLC 96 2.55% $6,903
    USAA Federal Savings Bank 96 2.79% $4,805
    MOVEMENT MORTGAGE, LLC 91 2.88% $6,344
    LOANDEPOT.COM, LLC 87 2.68% $5,158
    HOME POINT FINANCIAL CORPORATION 68 2.46% $5,791
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 67 3.18% $7,770
    VILLAGE CAPITAL & INVESTMENT LLC 65 2.22% $3,324
    LAKEVIEW LOAN SERVICING, LLC 63 2.58% $2,107
    DHI MORTGAGE COMPANY, LTD. 61 2.65% $6,882
    A Mortgage Boutique, LLC 44 2.39% $4,630
    CLEARPATH LENDING 44 2.32% $4,848
    CMG MORTGAGE, INC. 40 2.90% $7,937
    CALIBER HOME LOANS, INC. 40 2.67% $4,642
    Mr. Cooper ( Nationstar Mortgage ) 35 2.70% $4,565
    Wells Fargo Bank 35 2.46% $3,770
    Gateway First Bank 33 2.92% $8,392
    AMERICAN MORTGAGE SERVICE COMPANY 30 2.50% $3,276
    Low VA Rates, LLC 29 2.37% $4,623
    Countybank 27 2.59% $5,604
    STOCKTON MORTGAGE CORPORATION 25 2.99% $5,881
    Sierra Pacific Mortgage Company, Inc. 22 2.72% $8,967
    NEWREZ LLC 21 2.82% $5,564
    First Guaranty Mortgage Corporation 20 2.58% $5,946
    The Federal Savings Bank 20 2.62% $6,802
    Citizens Bank 20 2.54% $8,219
    Pinnacle Bank 20 2.56% $5,961
    TJC Mortgage, Inc. 19 2.55% $6,899
    AMERISAVE MORTGAGE CORPORATION 18 2.53% $10,814
    AMERICAN FINANCIAL NETWORK, INC. 18 2.69% $9,302
    UNION HOME MORTGAGE CORP. 18 2.58% $5,968
    North American Savings Bank, F.S.B. 17 2.40% $3,767
    Barrington Bank & Trust Company, N.A. 17 2.72% $4,566
    PENTAGON FEDERAL CREDIT UNION 17 2.32% $1,474
    VANDERBILT MORTGAGE AND FINANCE, INC. 15 2.78% $9,410
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 14 3.25% $8,497
    GUILD MORTGAGE COMPANY 13 2.95% $8,526
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 2.83% $6,836
    Northpointe Bank 11 3.11% $3,272
    InterContinental Capital Group, Inc 11 2.48% $3,804
    FirstBank 11 2.60% $7,087
    Bank of England 11 3.07% $8,931
    PLANET HOME LENDING, LLC 10 2.46% $1,889
    BROKER SOLUTIONS, INC. 10 2.97% $3,539
    Regions Bank 10 2.79% $6,869
    MUTUAL OF OMAHA MORTGAGE, INC. 10 2.61% $4,555
    AMCAP MORTGAGE, LTD. 9 2.94% $6,956
    First Federal Bank 9 3.15% $8,984
    NP, Inc. 9 2.38% $3,412
    SOVEREIGN LENDING GROUP INCORPORATED 9 2.57% $4,633
    Magnolia Bank 9 2.61% $6,818
    NBKC BANK 8 2.45% $4,978
    Truist Bank 8 2.93% $2,577
    CROSSCOUNTRY MORTGAGE, LLC 8 2.91% $5,743
    ACCELERATE MORTGAGE, LLC 8 2.34% $5,807
    NATIONS DIRECT MORTGAGE, LLC 7 2.80% $5,371
    CHURCHILL MORTGAGE CORPORATION 7 2.80% $4,553
    Carrington Mortgage Services, LLC 7 3.23% $5,010
    Flagstar Bank, FSB 7 3.15% $5,872
    BNC National Bank 7 2.38% $5,901
    Wyndham Capital Mortgage, Inc. 7 2.46% $1,761
    AMERICAN FINANCING CORPORATION 6 2.48% $3,801
    First Horizon Bank 6 2.56% $5,779
    MID AMERICA MORTGAGE, INC. 6 2.52% $2,917
    SUN WEST MORTGAGE COMPANY, INC. 5 2.37% $10,407
    POLARIS HOME FUNDING CORP. 5 2.75% $9,068
    HOMESIDE FINANCIAL, LLC 5 2.55% $6,321
    ZILLOW HOME LOANS, LLC 4 2.56% $8,998
    Fifth Third Bank 4 2.72% $3,462
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 2.66% $3,884
    Nations Lending Corporation 4 2.81% $7,373
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 3.28% $7,700
    Princeton Mortgage Corporation 4 2.84% $10,995
    SOUTHWEST STAGE FUNDING, LLC 4 3.38% $108
    T2 FINANCIAL LLC 4 2.88% $7,172
    U.S. Bank 4 2.53% $5,298
    CONTOUR MORTGAGE CORPORATION 3 2.58% $6,009
    Manufacturers and Traders Trust Company 3 2.75% $12,289
    EMBRACE HOME LOANS, INC. 3 3.13% $7,085
    AmeriHome Mortgage Company, LLC 3 2.75% $1,694
    GUARANTY HOME MORTGAGE CORPORATION 3 2.63% $8,668
    KELLER MORTGAGE, LLC 3 2.58% $6,608
    ROYAL UNITED MORTGAGE LLC 3 2.96% $8,214
    First Home Bank 3 2.33% $2,250
    Prime Choice Funding Inc. 3 2.29% $8,672
    CU COMMUNITY, LLC 3 2.75% $4,863
    Strong Home Mortgage, LLC 3 2.33% $15,169
    The Central Trust Bank 2 2.25% $6,298
    BAYSHORE MORTGAGE FUNDING, LLC 2 2.38% $5,469
    NATIONWIDE MORTGAGE BANKERS, INC. 2 2.69% $7,940
    LENDUS, LLC 2 2.25% $3,875
    Mid-Continent Funding, Inc. 2 3.00% $1,810
    Presidential Bank, FSB 2 2.31% $3,349
    United Community Bank 2 2.31% $9,856
    Armed Forces Bank 2 2.38% $6,141
    MORTGAGE FINANCIAL SERVICES, LLC 2 2.94% $7,009
    LIBERTY HOME MORTGAGE CORPORATION 2 2.50% $3,479
    Valley National Bank 2 2.63% $3,662
    AmRes Corporation 2 2.69% $3,093
    RELIANCE FIRST CAPITAL, LLC 2 2.69% $7,138
    GUARANTEED RATE, INC. 2 2.63% $6,232
    HomePromise Corporation 2 2.94% $17,372
    Renasant Bank 2 3.56% $3,020
    HOMESTAR FINANCIAL CORPORATION 2 2.94% $2,844
    RUOFF MORTGAGE COMPANY, INC. 2 3.13% $7,718
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 3.50% $9,713
    Simmons Bank 2 3.00% $3,515
    GoPrime Mortgage, Inc. 2 2.94% $2,363
    Wolfe Financial, Inc 2 3.19% $22,764
    KS StateBank 2 2.56% $1,296
    Capital Bank 2 2.06% $1,692
    Hometown Lenders, Inc. 2 3.56% $13,575
    Waterstone Mortgage Corporation 2 3.19% $7,634
    Goldwater Bank, N.A. 2 2.88% $4,670
    CELEBRITY HOME LOANS, LLC 1 3.00% $10,682
    SIRVA MORTGAGE, INC. 1 2.88% $10,658
    CapStar Bank 1 2.25% $3,415
    STEARNS LENDING, LLC 1 2.75% $5,472
    SUMMIT FUNDING, INC. 1 3.38% $2,023
    Sunflower Bank 1 2.88% $2,474
    BELEM SERVICING LLC 1 2.50% $3,236
    Synovus Bank 1 3.13% $13,791
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.00% $3,725
    The First National Bank of Middle Tennessee 1 2.88% $6,291
    BAY EQUITY LLC 1 2.88% $13,425
    BARTLETT MORTGAGE, INC. 1 2.25% $3,782
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 3.00% $3,321
    ANGEL OAK HOME LOANS LLC 1 2.75% $8,700
    AMERICAN HOME LENDING USA, LLC 1 3.25% $2,236
    U S WIDE FINANCIAL LLC 1 2.63% $2,071
    VAN DYK MORTGAGE CORPORATION 1 3.63% $22,196
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 3.00% $20,266
    Watermark Capital, Inc. 1 2.25% $4,143
    GUARANTEED RATE AFFINITY, LLC 1 2.25% $150
    HOMESPIRE MORTGAGE CORPORATION 1 3.63% $990
    Ixonia Bank 1 3.00% $3,746
    KeyBank 1 2.75% $2,358
    LADERA LENDING, INC. 1 2.63% $3,594
    GMFS LLC 1 2.50% $6,253
    George Mason Mortgage, LLC 1 2.38% $36,566
    Franklin Loan Corporation 1 2.75% $5,414
    METROPLEX MORTGAGE SERVICES, INC. 1 2.88% $5,934
    MICHIGAN MUTUAL, INC. 1 2.75% $3,325
    FLAT BRANCH MORTGAGE, INC. 1 3.13% $8,772
    First United Bank and Trust Company 1 3.00% $3,814
    First Mortgage Solutions, LLC 1 2.25% $6,957
    First Midwest Bank 1 2.38% $1,940
    First Federal Bank of Kansas City 1 2.75% $0
    MYCUMORTGAGE, LLC 1 2.75% $3,795
    FINANCE OF AMERICA MORTGAGE LLC 1 2.38% $1,021
    NATIONS RELIABLE LENDING, LLC 1 3.50% $13,330
    FBC MORTGAGE, LLC 1 2.25% $4,410
    EVERETT FINANCIAL, INC. 1 2.88% $9,782
    NETWORK CAPITAL FUNDING CORPORATION 1 2.50% $4,027
    ENVOY MORTGAGE, LTD 1 3.00% $10,246
    DAS Acquisition Company, LLC 1 3.25% $2,526
    CRESCENT MORTGAGE COMPANY 1 2.38% $1,592
    Paramount Bank 1 3.25% $2,508
    Paramount Residential Mortgage Group, Inc. 1 4.25% $2,766
    Credence Funding Corporation 1 2.25% $1,674
    PHH Mortgage Corporation 1 3.38% $4,171
    COMMUNITY MORTGAGE CORPORATION 1 3.25% $5,824
    Plains Commerce Bank 1 2.50% $3,758
    Community First National Bank 1 2.25% $2,233
    PNC Bank 1 2.63% $1,331
    Colten Mortgage, LLC 1 3.38% $10,695
    PREMIA MORTGAGE, LLC 1 2.63% $10,440
    American Security Mortgage Corp. 1 2.75% $4,896
    Willamette Valley Bank 1 2.75% $4,641
    CityWorth Mortgage LLC 1 1.75% $3,762
    CHERRY CREEK MORTGAGE, LLC 1 2.25% $2,324
    Reliant Bank 1 2.25% $5,037

    The top Knoxville VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 357 VA loans originated. Their average total fees are $5,441, which is $750 lower than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Knoxville VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION ($1,474), PLANET HOME LENDING, LLC ($1,889), LAKEVIEW LOAN SERVICING, LLC ($2,107), FREEDOM MORTGAGE CORPORATION ($2,989) and Northpointe Bank ($3,272).

    The lowest rate Knoxville VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.22%), CLEARPATH LENDING (2.32%), PENTAGON FEDERAL CREDIT UNION (2.32%), Low VA Rates, LLC (2.37%) and A Mortgage Boutique, LLC (2.39%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Knoxville (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 $249,450 (13.7%) $346,465 (10.7%) 0.92 3,562
    2018-02-01 $249,900 (11.1%) $351,078 (9.9%) 0.90 3,390
    2018-03-01 $259,900 (13.0%) $372,105 (13.9%) 0.90 3,346
    2018-04-01 $269,950 (10.2%) $379,716 (11.0%) 0.91 3,404
    2018-05-01 $276,450 (10.7%) $387,131 (12.3%) 0.92 3,479
    2018-06-01 $274,900 (10.2%) $386,318 (12.2%) 0.92 3,593
    2018-07-01 $269,950 (8.0%) $384,506 (11.4%) 0.90 3,808
    2018-08-01 $269,250 (7.7%) $379,928 (2.3%) 0.90 3,886
    2018-09-01 $264,900 (6.0%) $377,445 (0.8%) 0.89 3,914
    2018-10-01 $259,950 (4.0%) $375,973 (7.4%) 0.87 3,924
    2018-11-01 $259,900 (4.0%) $382,885 (10.3%) 0.87 3,731
    2018-12-01 $260,000 (4.0%) $380,392 (10.0%) 0.89 3,492
    2019-01-01 $262,950 (5.4%) $378,233 (9.2%) 0.91 3,170
    2019-02-01 $268,750 (7.5%) $382,366 (8.9%) 0.90 3,091
    2019-03-01 $278,300 (7.1%) $385,908 (3.7%) 0.91 3,056
    2019-04-01 $289,700 (7.3%) $388,688 (2.4%) 0.91 3,038
    2019-05-01 $291,400 (5.4%) $390,987 (1.0%) 0.90 3,077
    2019-06-01 $295,000 (7.3%) $394,959 (2.2%) 0.91 3,164
    2019-07-01 $299,900 (11.1%) $403,866 (5.0%) 0.93 3,147
    2019-08-01 $296,692 (10.2%) $404,773 (6.5%) 0.93 3,200
    2019-09-01 $287,588 (8.6%) $393,847 (4.4%) 0.91 3,234
    2019-10-01 $284,950 (9.6%) $388,616 (3.4%) 0.91 3,258
    2019-11-01 $284,900 (9.6%) $403,713 (5.4%) 0.92 3,136
    2019-12-01 $284,900 (9.6%) $404,791 (6.4%) 0.95 2,852
    2020-01-01 $282,495 (7.4%) $416,208 (10.0%) 0.94 2,569
    2020-02-01 $290,000 (7.9%) $425,731 (11.3%) 0.94 2,375
    2020-03-01 $303,400 (9.0%) $431,903 (11.9%) 0.95 2,252
    2020-04-01 $302,775 (4.5%) $417,735 (7.5%) 0.94 2,367
    2020-05-01 $314,900 (8.1%) $436,214 (11.6%) 0.95 2,222
    2020-06-01 $324,900 (10.1%) $448,457 (13.6%) 0.95 2,009
    2020-07-01 $329,900 (10.0%) $454,842 (12.6%) 0.95 1,785
    2020-08-01 $329,900 (11.2%) $449,943 (11.2%) 0.94 1,642
    2020-09-01 $324,950 (13.0%) $447,728 (13.7%) 0.93 1,509
    2020-10-01 $324,900 (14.0%) $448,178 (15.3%) 0.93 1,530
    2020-11-01 $315,450 (10.7%) $450,839 (11.7%) 0.90 1,554
    2020-12-01 $310,000 (8.8%) $446,477 (10.3%) 0.91 1,372
    2021-01-01 $320,000 (13.3%) $469,725 (12.9%) 0.94 1,142
    2021-02-01 $329,900 (13.8%) $495,872 (16.5%) 0.95 861
    2021-03-01 $314,950 (3.8%) $480,993 (11.4%) 0.88 745
    2021-04-01 $349,900 (15.6%) $504,469 (20.8%) 0.94 673
    2021-05-01 $344,586 (9.4%) $492,189 (12.8%) 0.91 765
    2021-06-01 $349,900 (7.7%) $491,077 (9.5%) 0.91 924
    2021-07-01 $327,450 (-0.7%) $469,511 (3.2%) 0.85 1,053
    2021-08-01 $329,900 (0.0%) $474,909 (5.6%) 0.87 1,161
    2021-09-01 $326,178 (0.4%) $475,868 (6.3%) 0.86 1,172
    2021-10-01 $325,000 (0.0%) $477,496 (6.5%) 0.86 1,188
    2021-11-01 $332,450 (5.4%) $500,668 (11.1%) 0.88 1,074
    2021-12-01 $337,450 (8.9%) $510,773 (14.4%) 0.90 874
    2022-01-01 $349,900 (9.3%) $540,987 (15.2%) 0.93 727
    2022-02-01 $375,000 (13.7%) $558,719 (12.7%) 0.96 618
    2022-03-01 $372,400 (18.2%) $548,147 (14.0%) 0.92 690
    2022-04-01 $395,000 (12.9%) $552,914 (9.6%) 0.93 783
    Knoxville's median listing price for 2022-04-01 was $395,000, a difference of $45,100 (12.9%) versus the prior year and $22,600 versus the prior month.

    Knoxville's median listing price comes in at 93% of the national average.

    Knoxville's average listing price for 2022-04-01 was $552,914, a difference of $48,445 (9.6%) versus the prior year and $4,767 versus the prior month.

    For the 2022-04-01 period, Knoxville had 783 MLS listings, a difference of 93 listings (13%) versus the prior month and 110 listings (16%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Knoxville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 91 days 2,159 sqft
    2018-02-01 89 days 2,174 sqft
    2018-03-01 72 days 2,232 sqft
    2018-04-01 60 days 2,269 sqft
    2018-05-01 57 days 2,301 sqft
    2018-06-01 59 days 2,291 sqft
    2018-07-01 60 days 2,299 sqft
    2018-08-01 62 days 2,262 sqft
    2018-09-01 65 days 2,244 sqft
    2018-10-01 71 days 2,247 sqft
    2018-11-01 74 days 2,259 sqft
    2018-12-01 82 days 2,231 sqft
    2019-01-01 88 days 2,218 sqft
    2019-02-01 83 days 2,206 sqft
    2019-03-01 65 days 2,246 sqft
    2019-04-01 60 days 2,310 sqft
    2019-05-01 56 days 2,322 sqft
    2019-06-01 58 days 2,369 sqft
    2019-07-01 63 days 2,383 sqft
    2019-08-01 63 days 2,338 sqft
    2019-09-01 61 days 2,262 sqft
    2019-10-01 64 days 2,243 sqft
    2019-11-01 69 days 2,229 sqft
    2019-12-01 75 days 2,211 sqft
    2020-01-01 85 days 2,203 sqft
    2020-02-01 84 days 2,215 sqft
    2020-03-01 60 days 2,251 sqft
    2020-04-01 59 days 2,272 sqft
    2020-05-01 64 days 2,296 sqft
    2020-06-01 64 days 2,302 sqft
    2020-07-01 59 days 2,329 sqft
    2020-08-01 56 days 2,262 sqft
    2020-09-01 52 days 2,237 sqft
    2020-10-01 48 days 2,200 sqft
    2020-11-01 48 days 2,143 sqft
    2020-12-01 55 days 2,093 sqft
    2021-01-01 66 days 2,086 sqft
    2021-02-01 66 days 2,094 sqft
    2021-03-01 49 days 1,996 sqft
    2021-04-01 43 days 2,098 sqft
    2021-05-01 36 days 2,058 sqft
    2021-06-01 35 days 2,100 sqft
    2021-07-01 37 days 2,018 sqft
    2021-08-01 37 days 1,996 sqft
    2021-09-01 42 days 1,977 sqft
    2021-10-01 42 days 1,983 sqft
    2021-11-01 44 days 1,986 sqft
    2021-12-01 48 days 1,973 sqft
    2022-01-01 52 days 2,000 sqft
    2022-02-01 42 days 2,015 sqft
    2022-03-01 34 days 1,990 sqft
    2022-04-01 30 days 2,033 sqft
    Knoxville's median listing age (time on market) for 2022-04-01 was 30 days. This is -30% shorter than the same period one year ago.

    Knoxville's median square footage for active listings during the 2022-04-01 period was 2,033 sqft. One year prior, the average listing was 2,098 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.