Lexington VA Loans

LEXINGTON-FAYETTE, KY

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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.

    Lexington's 118 lenders originated 1,403 VA loans during 2021. The total origination value was $338,095,000, with an average VA loan value of $240,980.

    Lexington VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Lexington averaged 5.56% 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 5.57% and one month ago for the week of 2022-04-15, the average rate was 5.33%.

    The average rate one year ago was 3.12%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.11%.

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

    Lexington 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 Lexington level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 151 2.89% $6,350
    QUICKEN LOANS, LLC 142 2.42% $3,775
    FREEDOM MORTGAGE CORPORATION 91 2.49% $2,193
    PENNYMAC LOAN SERVICES, LLC 50 2.44% $4,560
    NEW DAY FINANCIAL, LLC 46 2.78% $7,213
    USAA Federal Savings Bank 41 2.78% $4,836
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 40 3.13% $7,449
    NAVY FEDERAL CREDIT UNION 30 2.51% $4,986
    AMERICAN MORTGAGE SERVICE COMPANY 30 2.58% $4,793
    STOCKTON MORTGAGE CORPORATION 28 3.05% $6,880
    LAKEVIEW LOAN SERVICING, LLC 28 2.63% $2,688
    CALIBER HOME LOANS, INC. 27 2.68% $5,740
    UNITED WHOLESALE MORTGAGE, LLC 26 2.57% $6,331
    Central Bank & Trust Company 22 2.47% $3,746
    VILLAGE CAPITAL & INVESTMENT LLC 21 2.46% $2,521
    Bank of England 20 3.16% $6,787
    Guardian Savings Bank, A Federal Savings Bank 19 2.43% $5,728
    LOANDEPOT.COM, LLC 19 2.70% $5,127
    Mr. Cooper ( Nationstar Mortgage ) 18 2.88% $3,217
    Hometown Lenders, Inc. 17 3.17% $5,808
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 2.96% $3,754
    WesBanco Bank, Inc. 11 2.63% $5,930
    Barrington Bank & Trust Company, N.A. 11 2.79% $4,153
    HOME POINT FINANCIAL CORPORATION 10 2.44% $3,501
    The Federal Savings Bank 10 2.46% $6,518
    Northpointe Bank 10 2.76% $7,022
    Prosperity Home Mortgage, LLC 10 2.71% $7,758
    PENTAGON FEDERAL CREDIT UNION 9 2.33% $4,268
    Wells Fargo Bank 9 2.40% $4,051
    AMERISAVE MORTGAGE CORPORATION 8 2.75% $3,189
    CROSSCOUNTRY MORTGAGE, LLC 8 2.94% $4,534
    PLANET HOME LENDING, LLC 7 2.71% $2,888
    Citizens Bank 7 2.63% $4,281
    North American Savings Bank, F.S.B. 7 2.45% $3,485
    NEWREZ LLC 7 2.86% $2,875
    Fifth Third Bank 7 2.89% $6,136
    Sierra Pacific Mortgage Company, Inc. 6 2.94% $6,567
    MOVEMENT MORTGAGE, LLC 6 2.81% $7,642
    FIRST COMMUNITY MORTGAGE, INC. 5 2.48% $4,915
    CLEARPATH LENDING 5 2.43% $3,768
    Low VA Rates, LLC 5 2.40% $3,796
    Republic State Mortgage Co. 5 2.75% $8,547
    Carrington Mortgage Services, LLC 5 2.78% $5,063
    Kentucky Bank 5 2.50% $4,221
    First Guaranty Mortgage Corporation 5 2.50% $6,403
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 3.19% $7,552
    Republic Bank & Trust Company 4 2.63% $3,223
    SOUTH CENTRAL BANK, INC. 4 2.66% $3,766
    THE MORTGAGE WAREHOUSE,LLC 4 2.41% $6,183
    Truist Bank 4 3.01% $4,493
    AMERICAN FINANCIAL NETWORK, INC. 4 3.22% $8,107
    FINANCE OF AMERICA MORTGAGE LLC 4 2.78% $2,413
    GUARANTEED RATE, INC. 4 2.59% $6,672
    HAMILTON HOME LOANS, INC. 4 3.00% $4,468
    MUTUAL OF OMAHA MORTGAGE, INC. 4 2.50% $5,207
    InterContinental Capital Group, Inc 3 3.25% $4,218
    GENEVA FINANCIAL, LLC 3 2.88% $8,911
    BNC National Bank 3 2.29% $5,907
    Flagstar Bank, FSB 3 2.92% $1,296
    Nations Lending Corporation 3 2.88% $9,321
    U.S. Bank 3 2.96% $8,312
    NBKC BANK 3 2.33% $963
    UNION HOME MORTGAGE CORP. 3 2.92% $7,630
    SWBC MORTGAGE CORPORATION 3 3.17% $4,725
    CMG MORTGAGE, INC. 3 2.88% $4,151
    Peoples Exchange Bank 3 2.25% $4,310
    AMERIFIRST FINANCIAL CORPORATION 3 3.04% $4,697
    RELIANCE FIRST CAPITAL, LLC 3 3.08% $12,256
    PLAZA HOME MORTGAGE, INC. 3 3.13% $2,644
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 3.13% $5,593
    Manufacturers and Traders Trust Company 3 2.92% $2,499
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.50% $4,037
    GoPrime Mortgage, Inc. 2 3.75% $2,568
    Magnolia Bank 2 2.44% $6,289
    EVANSVILLE TEACHERS 2 2.25% $3,051
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 3.44% $6,426
    SUN WEST MORTGAGE COMPANY, INC. 2 2.75% $2,443
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 2.94% $4,208
    NP, Inc. 2 2.38% $2,391
    First Federal Bank 2 2.75% $12,523
    Commonwealth Bank and Trust Company 2 2.63% $5,519
    Old National Bank 2 2.75% $6,976
    PNC Bank 2 2.75% $1,532
    Paramount Residential Mortgage Group, Inc. 2 2.38% $1,401
    SOVEREIGN LENDING GROUP INCORPORATED 2 3.44% $11,373
    Wyndham Capital Mortgage, Inc. 1 2.75% $14,880
    AMERICAN ADVISORS GROUP 1 2.62% $16,935
    AMERICAN FINANCING CORPORATION 1 2.75% $4,742
    ASHLAND Credit Union 1 3.13% $8,457
    BROKER SOLUTIONS, INC. 1 3.25% $4,085
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.25% $8,123
    Colonial Savings, F.A. 1 3.75% $7,481
    CRESCENT MORTGAGE COMPANY 1 2.50% $4,361
    DAS Acquisition Company, LLC 1 2.75% $4,032
    FBC MORTGAGE, LLC 1 3.13% $3,186
    First Federal Bank of Kansas City 1 2.75% $3,486
    First Home Bank 1 3.13% $8,366
    Fortera Federal Credit Union 1 2.63% $2,320
    HALLMARK HOME MORTGAGE, LLC 1 2.63% $13,748
    HOMESIDE FINANCIAL, LLC 1 2.50% $1,277
    JPMorgan Chase Bank 1 3.63% $10,195
    KS StateBank 1 2.50% $15,789
    Lakeview Community Capital, LLC 1 2.50% $1,030
    LENOX FINANCIAL MORTGAGE CORPORATION 1 2.75% $5,662
    MORTGAGE INVESTORS GROUP, INC. 1 2.50% $9,186
    Paramount Bank 1 2.63% $2,070
    PHH Mortgage Corporation 1 2.63% $3,314
    Regions Bank 1 2.75% $13,893
    ROSS MORTGAGE CORPORATION 1 2.75% $4,585
    SFMC, LP 1 2.88% $2,904
    Stock Yards Bank & Trust Company 1 2.38% $2,088
    The Union Bank Company 1 3.13% $2,785
    THRIVE MORTGAGE, LLC 1 3.13% $5,206
    Union Savings Bank 1 2.88% $303
    UNITED SECURITY FINANCIAL CORP 1 2.38% $2,127
    VAN DYK MORTGAGE CORPORATION 1 3.25% $2,668
    Western Ohio Mortgage Corporation 1 2.75% $3,456
    AMCAP MORTGAGE, LTD. 1 2.50% $4,673

    The top Lexington VA lender as defined by loan originations is Mortgage Research Center, LLC, with 151 VA loans originated. Their average total fees are $6,350, which is $2,576 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Lexington VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,193), VILLAGE CAPITAL & INVESTMENT LLC ($2,521), LAKEVIEW LOAN SERVICING, LLC ($2,688), Mr. Cooper ( Nationstar Mortgage ) ($3,217) and HOME POINT FINANCIAL CORPORATION ($3,501).

    The lowest rate Lexington VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.42%), Guardian Savings Bank, A Federal Savings Bank (2.43%), HOME POINT FINANCIAL CORPORATION (2.44%), PENNYMAC LOAN SERVICES, LLC (2.44%) and The Federal Savings Bank (2.46%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lexington (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 $269,450 (6.8%) $374,696 (1.8%) 0.99 1,417
    2018-02-01 $283,600 (5.9%) $387,768 (1.2%) 1.02 1,333
    2018-03-01 $299,000 (4.9%) $406,745 (-0.3%) 1.03 1,350
    2018-04-01 $309,900 (3.3%) $421,756 (0.1%) 1.04 1,370
    2018-05-01 $313,863 (3.0%) $431,430 (3.6%) 1.05 1,510
    2018-06-01 $312,825 (4.5%) $428,243 (5.6%) 1.04 1,580
    2018-07-01 $299,950 (3.4%) $419,871 (6.7%) 1.00 1,717
    2018-08-01 $289,700 (3.7%) $403,642 (6.5%) 0.97 1,882
    2018-09-01 $287,750 (2.8%) $398,086 (5.1%) 0.96 1,912
    2018-10-01 $279,950 (0.0%) $391,180 (2.7%) 0.94 1,965
    2018-11-01 $269,900 (-2.2%) $378,802 (1.1%) 0.90 1,894
    2018-12-01 $265,000 (-1.8%) $370,405 (-0.4%) 0.91 1,750
    2019-01-01 $267,450 (-0.7%) $372,130 (-0.7%) 0.92 1,615
    2019-02-01 $285,000 (0.5%) $385,352 (-0.6%) 0.95 1,466
    2019-03-01 $294,228 (-1.6%) $395,602 (-2.7%) 0.96 1,462
    2019-04-01 $306,467 (-1.1%) $405,990 (-3.7%) 0.97 1,497
    2019-05-01 $311,450 (-0.8%) $408,033 (-5.4%) 0.96 1,592
    2019-06-01 $312,500 (-0.1%) $401,569 (-6.2%) 0.96 1,645
    2019-07-01 $305,053 (1.7%) $396,333 (-5.6%) 0.95 1,770
    2019-08-01 $297,386 (2.7%) $388,974 (-3.6%) 0.94 1,759
    2019-09-01 $290,836 (1.1%) $404,304 (1.6%) 0.92 1,747
    2019-10-01 $294,053 (5.0%) $420,233 (7.4%) 0.94 1,776
    2019-11-01 $289,500 (7.3%) $423,722 (11.9%) 0.93 1,667
    2019-12-01 $284,500 (7.4%) $423,624 (14.4%) 0.95 1,507
    2020-01-01 $294,608 (10.2%) $436,942 (17.4%) 0.98 1,343
    2020-02-01 $310,340 (8.9%) $461,499 (19.8%) 1.00 1,256
    2020-03-01 $320,700 (9.0%) $422,187 (6.7%) 1.00 1,198
    2020-04-01 $319,750 (4.3%) $424,158 (4.5%) 1.00 1,224
    2020-05-01 $329,919 (5.9%) $451,637 (10.7%) 1.00 1,137
    2020-06-01 $330,196 (5.7%) $462,207 (15.1%) 0.96 1,066
    2020-07-01 $330,196 (8.2%) $461,975 (16.6%) 0.95 969
    2020-08-01 $335,000 (12.7%) $467,133 (20.1%) 0.96 942
    2020-09-01 $347,630 (19.5%) $488,558 (20.8%) 0.99 896
    2020-10-01 $338,839 (15.2%) $487,664 (16.1%) 0.97 885
    2020-11-01 $332,925 (15.0%) $484,246 (14.3%) 0.95 805
    2020-12-01 $326,950 (14.9%) $456,544 (7.8%) 0.96 738
    2021-01-01 $325,640 (10.5%) $456,258 (4.4%) 0.96 665
    2021-02-01 $332,450 (7.1%) $470,023 (1.9%) 0.96 557
    2021-03-01 $331,900 (3.5%) $474,860 (12.5%) 0.93 525
    2021-04-01 $332,735 (4.1%) $494,737 (16.6%) 0.89 548
    2021-05-01 $349,000 (5.8%) $526,093 (16.5%) 0.92 540
    2021-06-01 $333,905 (1.1%) $482,913 (4.5%) 0.87 587
    2021-07-01 $318,633 (-3.5%) $461,133 (-0.2%) 0.83 634
    2021-08-01 $319,403 (-4.7%) $458,975 (-1.8%) 0.84 682
    2021-09-01 $316,953 (-8.8%) $461,704 (-5.5%) 0.83 708
    2021-10-01 $312,400 (-7.8%) $446,908 (-8.4%) 0.82 673
    2021-11-01 $318,450 (-4.4%) $469,238 (-3.1%) 0.84 589
    2021-12-01 $321,275 (-1.7%) $459,633 (0.7%) 0.86 503
    2022-01-01 $334,349 (2.7%) $491,652 (7.8%) 0.89 391
    2022-02-01 $350,900 (5.6%) $497,217 (5.8%) 0.89 388
    2022-03-01 $359,500 (8.3%) $513,180 (8.1%) 0.89 429
    2022-04-01 $385,000 (15.7%) $507,739 (2.6%) 0.91 467
    Lexington's median listing price for 2022-04-01 was $385,000, a difference of $52,265 (15.7%) versus the prior year and $25,500 versus the prior month.

    Lexington's median listing price comes in at 91% of the national average.

    Lexington's average listing price for 2022-04-01 was $507,739, a difference of $13,002 (2.6%) versus the prior year and $-5,441 versus the prior month.

    For the 2022-04-01 period, Lexington had 467 MLS listings, a difference of 38 listings (9%) versus the prior month and -81 listings (-15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lexington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 90 days 2,284 sqft
    2018-02-01 91 days 2,335 sqft
    2018-03-01 66 days 2,388 sqft
    2018-04-01 57 days 2,454 sqft
    2018-05-01 51 days 2,477 sqft
    2018-06-01 51 days 2,480 sqft
    2018-07-01 58 days 2,422 sqft
    2018-08-01 58 days 2,377 sqft
    2018-09-01 59 days 2,374 sqft
    2018-10-01 66 days 2,323 sqft
    2018-11-01 71 days 2,271 sqft
    2018-12-01 79 days 2,196 sqft
    2019-01-01 86 days 2,218 sqft
    2019-02-01 87 days 2,288 sqft
    2019-03-01 67 days 2,336 sqft
    2019-04-01 57 days 2,390 sqft
    2019-05-01 53 days 2,372 sqft
    2019-06-01 54 days 2,390 sqft
    2019-07-01 58 days 2,383 sqft
    2019-08-01 57 days 2,348 sqft
    2019-09-01 60 days 2,300 sqft
    2019-10-01 64 days 2,272 sqft
    2019-11-01 70 days 2,238 sqft
    2019-12-01 79 days 2,187 sqft
    2020-01-01 91 days 2,206 sqft
    2020-02-01 91 days 2,300 sqft
    2020-03-01 67 days 2,329 sqft
    2020-04-01 65 days 2,346 sqft
    2020-05-01 66 days 2,428 sqft
    2020-06-01 61 days 2,411 sqft
    2020-07-01 58 days 2,385 sqft
    2020-08-01 63 days 2,385 sqft
    2020-09-01 62 days 2,397 sqft
    2020-10-01 60 days 2,359 sqft
    2020-11-01 66 days 2,301 sqft
    2020-12-01 70 days 2,154 sqft
    2021-01-01 77 days 2,163 sqft
    2021-02-01 80 days 2,163 sqft
    2021-03-01 66 days 2,164 sqft
    2021-04-01 53 days 2,185 sqft
    2021-05-01 52 days 2,184 sqft
    2021-06-01 52 days 2,101 sqft
    2021-07-01 47 days 2,000 sqft
    2021-08-01 44 days 2,037 sqft
    2021-09-01 46 days 2,010 sqft
    2021-10-01 51 days 1,984 sqft
    2021-11-01 57 days 2,012 sqft
    2021-12-01 64 days 1,988 sqft
    2022-01-01 70 days 2,010 sqft
    2022-02-01 61 days 2,034 sqft
    2022-03-01 52 days 2,100 sqft
    2022-04-01 43 days 2,152 sqft
    Lexington's median listing age (time on market) for 2022-04-01 was 43 days. This is -19% shorter than the same period one year ago.

    Lexington's median square footage for active listings during the 2022-04-01 period was 2,152 sqft. One year prior, the average listing was 2,185 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.