Lexington VA Loan Rates, Closing Costs & Stats

LEXINGTON-FAYETTE, KY

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.

Lexington's 91 lenders originated 632 VA loans during 2022. The total origination value was $177,860,000, with an average VA loan value of $281,424.

Lexington VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Lexington averaged 6.37% for the week of 2024-03-01, compared to the national average (all VA variants) of 6.517% for the same period.

Lexington's average VA mortgage closing costs are $5,260.

The average rate for the prior week (2024-02-23) was 6.39% and one month ago for the week of 2024-01-26, the average rate was 6.12%.

The average rate one year ago was 5.96%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.25%.

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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Lexington level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 111 4.90% $7,314
QUICKEN LOANS, LLC 52 4.35% $8,691
ARK-LA-TEX FINANCIAL SERVICES, LLC. 33 4.86% $8,442
FREEDOM MORTGAGE CORPORATION 31 4.50% $9,280
UNITED WHOLESALE MORTGAGE, LLC 23 4.73% $8,438
USAA Federal Savings Bank 22 4.53% $7,896
PENNYMAC LOAN SERVICES, LLC 21 3.26% $7,582
NEW DAY FINANCIAL, LLC 21 4.96% $9,755
STOCKTON MORTGAGE CORPORATION 18 4.91% $8,395
NAVY FEDERAL CREDIT UNION 18 4.17% $5,917
AMERICAN MORTGAGE SERVICE COMPANY 14 4.93% $7,483
Prosperity Home Mortgage, LLC 14 4.65% $5,993
LOANDEPOT.COM, LLC 13 4.71% $11,858
GENEVA FINANCIAL, LLC 12 4.85% $6,142
Northpointe Bank 11 4.16% $10,082
GUARANTEED RATE, INC. 10 4.87% $6,249
Mr. Cooper ( Nationstar Mortgage ) 9 4.72% $6,396
The Federal Savings Bank 7 5.13% $22,028
Hometown Lenders, Inc. 6 4.40% $8,833
Fifth Third Bank 6 4.13% $4,557
Republic State Mortgage Co. 6 5.48% $11,121
WesBanco 6 4.63% $6,439
HOMESIDE FINANCIAL, LLC 5 5.42% $7,318
BROKER SOLUTIONS, INC. 5 4.77% $6,796
Wells Fargo Bank 5 4.05% $4,152
MORTGAGE SOLUTIONS OF COLORADO, LLC 4 4.91% $4,039
AMERISAVE MORTGAGE CORPORATION 4 4.69% $8,529
Bank of England 4 5.66% $15,728
Guardian Savings Bank, A Federal Savings Bank 4 4.16% $8,935
MOVEMENT MORTGAGE, LLC 4 5.75% $7,024
MUTUAL OF OMAHA MORTGAGE, INC. 4 5.47% $10,590
SOUTH CENTRAL BANK, INC. 4 4.22% $9,447
Truist 4 4.34% $8,355
U.S. Bank 4 5.19% $8,202
Paramount Residential Mortgage Group, Inc. 3 5.42% $11,967
Nations Lending Corporation 3 5.42% $11,704
Flagstar Bank, FSB 3 4.92% $10,683
North American Savings Bank, F.S.B. 3 4.33% $7,404
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 4.25% $6,445
LAKEVIEW LOAN SERVICING, LLC 3 3.71% $11,647
PLANET HOME LENDING, LLC 3 3.87% $18,325
VILLAGE CAPITAL MORTGAGE 2 3.81% $10,109
FINANCE OF AMERICA MORTGAGE LLC 2 4.18% $6,510
JPMorgan Chase Bank 2 4.69% $5,521
NEWREZ LLC 2 5.25% $7,835
PNC Bank 2 3.00% $1,463
Barrington Bank & Trust Company, N.A. 2 4.75% $13,792
The Huntington National Bank 2 5.31% $8,556
Century Mortgage Company DBA Century Lending Company 2 4.25% $9,431
Traditional Bank, Inc. 2 5.12% $13,304
Central Bank 2 5.75% $8,653
PENTAGON FEDERAL CREDIT UNION 2 3.63% $2,951
Peoples Exchange Bank 2 5.31% $5,607
ENVOY MORTGAGE, LTD 2 5.38% $7,635
Texana Bank 2 4.19% $6,782
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.00% $6,694
Carrington Mortgage Services, LLC 2 5.19% $9,352
CARDINAL FINANCIAL 2 4.63% $8,105
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 4.50% $5,620
HOME POINT FINANCIAL CORPORATION 2 3.56% $3,619
CALIBER HOME LOANS, INC. 2 5.25% $7,298
First Guaranty Mortgage Corporation 1 2.75% $3,235
GUARANTY HOME MORTGAGE CORPORATION 1 3.25% $9,539
GVC MORTGAGE, INC. 1 3.50% $6,999
Arvest Bank 1 6.50% $14,135
FBC MORTGAGE, LLC 1 5.75% $11,360
INTERLINC MORTGAGE SERVICES, LLC 1 3.88% $15,731
Magnolia Bank 1 4.75% $17,569
MID AMERICA MORTGAGE, INC. 1 5.13% $4,940
EVERETT FINANCIAL, INC. 1 3.88% $2,043
Equity Prime Mortgage LLC 1 4.88% $2,745
Armed Forces Bank 1 2.75% $1,634
MYCUMORTGAGE, LLC 1 5.13% $3,491
CROSSCOUNTRY MORTGAGE, LLC 1 3.50% $12,243
CMG MORTGAGE, INC. 1 3.13% $13,381
NFM, INC. 1 6.75% $11,750
NP, Inc. 1 3.25% $3,939
PHH Mortgage Corporation 1 5.50% $4,642
Regions Bank 1 4.13% $4,159
Republic Bank & Trust Company 1 4.00% $2,227
Service Federal Credit Union 1 3.00% $2,956
SOVEREIGN LENDING GROUP INCORPORATED 1 5.25% $6,027
BNC National Bank 1 2.50% $2,492
Stock Yards Bank & Trust Company 1 5.25% $6,043
SWBC MORTGAGE CORPORATION 1 4.25% $8,128
The Central Trust Bank 1 4.75% $7,653
THRIVE MORTGAGE, LLC 1 5.75% $6,977
TOWNE MORTGAGE COMPANY 1 3.25% $18,107
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $5,018
Forcht Bank 1 4.00% $2,553
First Home Bank 1 2.75% $15,555

The top Lexington VA lender as defined by loan originations is Mortgage Research Center, LLC, with 111 VA loans originated. Their average total fees are $7,314, which is $1,377 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Lexington VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($5,917), Prosperity Home Mortgage, LLC ($5,993), GENEVA FINANCIAL, LLC ($6,142), GUARANTEED RATE, INC. ($6,249) and Mortgage Research Center, LLC ($7,314).

The lowest rate Lexington VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.26%), Northpointe Bank (4.16%), NAVY FEDERAL CREDIT UNION (4.17%), QUICKEN LOANS, LLC (4.35%) and FREEDOM MORTGAGE CORPORATION (4.50%).


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 (6.9%) $375,455 (2.1%) 1.00 1,418
2018-02-01 $283,600 (6.0%) $388,429 (1.3%) 1.03 1,328
2018-03-01 $299,000 (5.1%) $407,171 (0.0%) 1.05 1,345
2018-04-01 $309,900 (3.3%) $420,776 (-0.3%) 1.05 1,369
2018-05-01 $314,609 (4.5%) $430,696 (3.6%) 1.05 1,505
2018-06-01 $315,000 (5.4%) $429,781 (5.9%) 1.05 1,570
2018-07-01 $299,950 (3.4%) $418,594 (6.4%) 1.00 1,717
2018-08-01 $289,042 (3.3%) $403,437 (6.3%) 0.97 1,881
2018-09-01 $288,950 (3.2%) $397,200 (4.6%) 0.97 1,908
2018-10-01 $278,937 (-0.3%) $389,178 (2.1%) 0.94 1,955
2018-11-01 $269,175 (-2.5%) $375,432 (0.2%) 0.91 1,892
2018-12-01 $265,000 (-1.8%) $367,138 (-1.3%) 0.91 1,752
2019-01-01 $267,187 (-0.8%) $366,896 (-2.3%) 0.92 1,619
2019-02-01 $283,700 (0.0%) $380,512 (-2.0%) 0.96 1,465
2019-03-01 $293,621 (-1.8%) $391,077 (-4.0%) 0.96 1,475
2019-04-01 $303,973 (-1.9%) $402,543 (-4.3%) 0.97 1,512
2019-05-01 $309,900 (-1.5%) $403,626 (-6.3%) 0.97 1,615
2019-06-01 $309,900 (-1.6%) $398,714 (-7.2%) 0.97 1,662
2019-07-01 $300,000 (0.0%) $392,806 (-6.2%) 0.94 1,774
2019-08-01 $297,245 (2.8%) $398,369 (-1.3%) 0.94 1,793
2019-09-01 $293,114 (1.4%) $409,319 (3.1%) 0.94 1,813
2019-10-01 $290,359 (4.1%) $418,715 (7.6%) 0.94 1,803
2019-11-01 $288,946 (7.3%) $422,514 (12.5%) 0.95 1,675
2019-12-01 $283,450 (7.0%) $422,192 (15.0%) 0.95 1,514
2020-01-01 $291,750 (9.2%) $434,848 (18.5%) 0.97 1,350
2020-02-01 $309,950 (9.3%) $458,635 (20.5%) 1.01 1,270
2020-03-01 $318,735 (8.6%) $414,554 (6.0%) 1.00 1,219
2020-04-01 $316,553 (4.1%) $416,691 (3.5%) 0.99 1,232
2020-05-01 $323,475 (4.4%) $436,068 (8.0%) 0.98 1,166
2020-06-01 $324,900 (4.8%) $467,554 (17.3%) 0.96 1,100
2020-07-01 $325,890 (8.6%) $454,149 (15.6%) 0.94 995
2020-08-01 $329,000 (10.7%) $456,993 (14.7%) 0.94 967
2020-09-01 $327,559 (11.8%) $456,204 (11.5%) 0.94 913
2020-10-01 $326,767 (12.5%) $455,472 (8.8%) 0.94 896
2020-11-01 $321,950 (11.4%) $451,567 (6.9%) 0.94 824
2020-12-01 $319,900 (12.9%) $440,364 (4.3%) 0.95 751
2021-01-01 $324,900 (11.4%) $453,507 (4.3%) 0.97 668
2021-02-01 $329,780 (6.4%) $464,315 (1.2%) 0.96 574
2021-03-01 $328,975 (3.2%) $468,324 (13.0%) 0.93 544
2021-04-01 $331,080 (4.6%) $490,600 (17.7%) 0.90 566
2021-05-01 $344,305 (6.4%) $518,436 (18.9%) 0.91 565
2021-06-01 $328,000 (1.0%) $477,862 (2.2%) 0.86 610
2021-07-01 $315,000 (-3.3%) $462,975 (1.9%) 0.83 658
2021-08-01 $317,450 (-3.5%) $456,489 (-0.1%) 0.85 708
2021-09-01 $314,675 (-3.9%) $457,952 (0.4%) 0.84 723
2021-10-01 $311,900 (-4.6%) $446,520 (-2.0%) 0.83 682
2021-11-01 $317,500 (-1.4%) $467,460 (3.5%) 0.85 606
2021-12-01 $319,500 (-0.1%) $458,145 (4.0%) 0.87 507
2022-01-01 $329,360 (1.4%) $490,040 (8.1%) 0.89 409
2022-02-01 $348,095 (5.6%) $494,651 (6.5%) 0.91 396
2022-03-01 $352,500 (7.2%) $506,204 (8.1%) 0.88 439
2022-04-01 $375,390 (13.4%) $501,017 (2.1%) 0.89 483
2022-05-01 $388,450 (12.8%) $504,976 (-2.6%) 0.89 568
2022-06-01 $394,700 (20.3%) $493,676 (3.3%) 0.88 688
2022-07-01 $399,000 (26.7%) $494,916 (6.9%) 0.90 801
2022-08-01 $383,600 (20.8%) $490,924 (7.5%) 0.89 853
2022-09-01 $386,950 (23.0%) $496,852 (8.5%) 0.90 846
2022-10-01 $386,900 (24.1%) $507,050 (13.6%) 0.91 901
2022-11-01 $374,757 (18.0%) $474,894 (1.6%) 0.90 924
2022-12-01 $369,900 (15.8%) $461,018 (0.6%) 0.91 893
2023-01-01 $387,100 (17.5%) $485,795 (-0.9%) 0.96 769
2023-02-01 $397,450 (14.2%) $496,741 (0.4%) 0.96 720
2023-03-01 $399,900 (13.5%) $504,073 (-0.4%) 0.94 710
2023-04-01 $399,900 (6.5%) $510,750 (1.9%) 0.93 698
2023-05-01 $409,400 (5.4%) $530,166 (5.0%) 0.93 705
2023-06-01 $414,975 (5.1%) $536,676 (8.7%) 0.93 739
2023-07-01 $409,900 (2.7%) $528,081 (6.7%) 0.93 788
2023-08-01 $399,850 (4.2%) $509,960 (3.9%) 0.92 849
2023-09-01 $397,173 (2.6%) $507,596 (2.2%) 0.92 894
2023-10-01 $397,561 (2.8%) $509,706 (0.5%) 0.94 956
2023-11-01 $393,046 (4.9%) $510,535 (7.5%) 0.94 989
2023-12-01 $390,717 (5.6%) $501,915 (8.9%) 0.95 886
2024-01-01 $395,000 (2.0%) $510,918 (5.2%) 0.96 780
Lexington's median listing price for 2024-01-01 was $395,000, a difference of $7,900 (2.0%) versus the prior year and $4,283 versus the prior month.

Lexington's median listing price comes in at 96% of the national average.

Lexington's average listing price for 2024-01-01 was $510,918, a difference of $25,123 (5.2%) versus the prior year and $9,003 versus the prior month.

For the 2024-01-01 period, Lexington had 780 MLS listings, a difference of -106 listings (-12%) versus the prior month and 11 listings (1%) 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 86 days 2,278 sqft
2018-02-01 82 days 2,334 sqft
2018-03-01 57 days 2,376 sqft
2018-04-01 52 days 2,440 sqft
2018-05-01 45 days 2,471 sqft
2018-06-01 46 days 2,474 sqft
2018-07-01 52 days 2,414 sqft
2018-08-01 52 days 2,376 sqft
2018-09-01 56 days 2,366 sqft
2018-10-01 61 days 2,309 sqft
2018-11-01 67 days 2,258 sqft
2018-12-01 75 days 2,180 sqft
2019-01-01 80 days 2,193 sqft
2019-02-01 79 days 2,286 sqft
2019-03-01 66 days 2,320 sqft
2019-04-01 52 days 2,368 sqft
2019-05-01 50 days 2,362 sqft
2019-06-01 51 days 2,377 sqft
2019-07-01 56 days 2,366 sqft
2019-08-01 56 days 2,353 sqft
2019-09-01 59 days 2,305 sqft
2019-10-01 62 days 2,277 sqft
2019-11-01 66 days 2,238 sqft
2019-12-01 77 days 2,187 sqft
2020-01-01 88 days 2,206 sqft
2020-02-01 85 days 2,300 sqft
2020-03-01 65 days 2,308 sqft
2020-04-01 66 days 2,327 sqft
2020-05-01 64 days 2,381 sqft
2020-06-01 58 days 2,381 sqft
2020-07-01 57 days 2,366 sqft
2020-08-01 60 days 2,365 sqft
2020-09-01 72 days 2,346 sqft
2020-10-01 73 days 2,316 sqft
2020-11-01 78 days 2,233 sqft
2020-12-01 72 days 2,104 sqft
2021-01-01 70 days 2,163 sqft
2021-02-01 72 days 2,134 sqft
2021-03-01 54 days 2,149 sqft
2021-04-01 43 days 2,165 sqft
2021-05-01 38 days 2,180 sqft
2021-06-01 43 days 2,089 sqft
2021-07-01 39 days 2,000 sqft
2021-08-01 40 days 2,036 sqft
2021-09-01 44 days 2,006 sqft
2021-10-01 46 days 1,979 sqft
2021-11-01 52 days 1,995 sqft
2021-12-01 59 days 1,980 sqft
2022-01-01 64 days 2,010 sqft
2022-02-01 53 days 2,034 sqft
2022-03-01 41 days 2,085 sqft
2022-04-01 36 days 2,101 sqft
2022-05-01 39 days 2,153 sqft
2022-06-01 37 days 2,200 sqft
2022-07-01 37 days 2,214 sqft
2022-08-01 40 days 2,218 sqft
2022-09-01 46 days 2,230 sqft
2022-10-01 52 days 2,248 sqft
2022-11-01 57 days 2,199 sqft
2022-12-01 68 days 2,168 sqft
2023-01-01 77 days 2,203 sqft
2023-02-01 77 days 2,257 sqft
2023-03-01 61 days 2,276 sqft
2023-04-01 52 days 2,290 sqft
2023-05-01 51 days 2,301 sqft
2023-06-01 50 days 2,287 sqft
2023-07-01 47 days 2,266 sqft
2023-08-01 46 days 2,224 sqft
2023-09-01 45 days 2,200 sqft
2023-10-01 50 days 2,171 sqft
2023-11-01 56 days 2,132 sqft
2023-12-01 67 days 2,115 sqft
2024-01-01 79 days 2,115 sqft
Lexington's median listing age (time on market) for 2024-01-01 was 79 days. This is 3% longer than the same period one year ago.

Lexington's median square footage for active listings during the 2024-01-01 period was 2,115 sqft. One year prior, the average listing was 2,203 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.