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 80 lenders originated 426 VA loans during 2023. The total origination value was $128,570,000, with an average VA loan value of $301,808.

Lexington VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Lexington averaged 6.37% for the week of 2024-06-14, compared to the national average (all VA variants) of 6.423% for the same period.

Lexington's average VA mortgage closing costs are $5,568.

The average rate for the prior week (2024-06-07) was 6.74% and one month ago for the week of 2024-05-10, the average rate was 6.55%.

The average rate one year ago was 6.49%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.59%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 75 6.72% $6,465
QUICKEN LOANS, LLC 34 6.16% $11,596
ARK-LA-TEX FINANCIAL SERVICES, LLC. 25 6.49% $10,496
UNITED WHOLESALE MORTGAGE, LLC 21 6.47% $10,454
THRIVE MORTGAGE, LLC 18 5.87% $11,571
STOCKTON MORTGAGE CORPORATION 16 6.53% $8,188
NAVY FEDERAL CREDIT UNION 15 5.77% $4,991
GENEVA FINANCIAL, LLC 12 6.59% $7,167
Bank of England 12 6.52% $9,833
FREEDOM MORTGAGE CORPORATION 10 7.10% $12,918
PENNYMAC LOAN SERVICES, LLC 9 5.54% $9,537
USAA Federal Savings Bank 8 6.20% $8,531
WesBanco 8 6.06% $6,303
NEW DAY FINANCIAL, LLC 8 7.57% $11,156
HOMESIDE FINANCIAL, LLC 6 6.35% $9,506
FBC MORTGAGE, LLC 6 6.31% $7,357
Northpointe Bank 5 5.68% $11,496
GUARANTEED RATE, INC. 5 6.28% $10,421
Guardian Savings Bank, A Federal Savings Bank 5 6.10% $14,301
Central Bank 5 6.20% $7,501
The Federal Savings Bank 4 6.81% $15,884
MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.50% $4,016
VILLAGE CAPITAL MORTGAGE 4 6.13% $13,096
PLANET HOME LENDING, LLC 4 6.28% $10,800
Republic State Mortgage Co. 4 6.31% $7,467
LOANDEPOT.COM, LLC 4 6.59% $7,670
LAKEVIEW LOAN SERVICING, LLC 3 6.04% $8,131
Peoples Exchange Bank 3 6.21% $4,191
Fifth Third Bank 3 6.67% $8,426
AMERISAVE MORTGAGE CORPORATION 3 5.54% $8,539
Flagstar Bank, FSB 3 6.13% $7,385
JPMorgan Chase Bank 3 6.79% $3,480
Barrington Bank & Trust Company, N.A. 3 5.92% $9,996
DAS Acquisition Company, LLC 3 6.83% $6,654
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.71% $12,412
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.69% $12,195
Regions Bank 2 5.25% $9,672
GoPrime Mortgage, Inc. 2 6.81% $12,977
Stock Yards Bank & Trust Company 2 6.44% $2,366
RUOFF MORTGAGE COMPANY, INC. 2 6.75% $10,768
CROSSCOUNTRY MORTGAGE, LLC 2 6.94% $4,198
PNC Bank 2 7.44% $2,962
U.S. Bank 2 6.19% $10,544
UNION HOME MORTGAGE CORP. 2 6.38% $5,622
AMCAP MORTGAGE, LTD. 2 6.00% $7,627
BNC National Bank 2 5.19% $5,201
Western Ohio Mortgage Corporation 1 7.13% $27,765
AMERICAN FINANCING CORPORATION 1 5.25% $6,221
AmeriHome Mortgage Company, LLC 1 7.50% $19,095
AmRes Corporation 1 7.63% $19,476
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $10,455
BAYSHORE MORTGAGE FUNDING, LLC 1 5.75% $5,919
CARDINAL FINANCIAL 1 6.25% $5,236
Century Mortgage Company DBA Century Lending Company 1 5.75% $21,941
CHURCHILL MORTGAGE CORPORATION 1 6.75% $13,567
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.75% $11,612
ENDEAVOR CAPITAL, LLC. 1 5.99% $5,574
Evolve Bank & Trust 1 7.25% $3,896
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $6,048
FIDELITY BANK 1 7.13% $13,235
First Horizon Bank 1 7.00% $30,955
GUARANTEED RATE AFFINITY, LLC 1 6.25% $5,107
LEADERONE FINANCIAL CORPORATION 1 6.75% $884
MOVEMENT MORTGAGE, LLC 1 6.75% $12,467
Mr. Cooper ( Nationstar Mortgage ) 1 5.25% $14,226
Old National Bank 1 5.75% $5,466
PENTAGON FEDERAL CREDIT UNION 1 6.00% $9,656
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $4,908
Prosperity Home Mortgage, LLC 1 7.38% $8,121
RELIANCE FIRST CAPITAL, LLC 1 5.88% $13,987
Renasant Bank 1 5.63% $9,924
Republic Bank & Trust Company 1 7.38% $2,023
ROYAL UNITED MORTGAGE LLC 1 7.75% $12,187
SOUTH CENTRAL BANK, INC. 1 7.00% $2,975
Strong Home Mortgage, LLC 1 5.75% $8,988
SUCCESS MORTGAGE PARTNERS, INC. 1 7.75% $4,209
SUN WEST MORTGAGE COMPANY, INC. 1 6.63% $9,315
The First National Bank of Middle Tennessee 1 6.75% $12,996
THE MORTGAGE WAREHOUSE,LLC 1 6.75% $22,175
TOP FLITE FINANCIAL, INC. 1 7.50% $9,313

The top Lexington VA lender as defined by loan originations is Mortgage Research Center, LLC, with 75 VA loans originated. Their average total fees are $6,465, which is $5,131 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 ($4,991), Mortgage Research Center, LLC ($6,465), GENEVA FINANCIAL, LLC ($7,167), STOCKTON MORTGAGE CORPORATION ($8,188) and Bank of England ($9,833).

The lowest rate Lexington VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.77%), THRIVE MORTGAGE, LLC (5.87%), QUICKEN LOANS, LLC (6.16%), UNITED WHOLESALE MORTGAGE, LLC (6.47%) and ARK-LA-TEX FINANCIAL SERVICES, LLC. (6.49%).


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
2024-02-01 $399,425 (0.5%) $519,278 (4.5%) 0.96 737
2024-03-01 $399,900 (0.0%) $533,785 (5.9%) 0.94 717
2024-04-01 $399,900 (0.0%) $547,674 (7.2%) 0.93 759
2024-05-01 $401,950 (-1.8%) $568,266 (7.2%) 0.91 772
Lexington's median listing price for 2024-05-01 was $401,950, a difference of $-7,450 (-1.8%) versus the prior year and $2,050 versus the prior month.

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

Lexington's average listing price for 2024-05-01 was $568,266, a difference of $38,100 (7.2%) versus the prior year and $20,592 versus the prior month.

For the 2024-05-01 period, Lexington had 772 MLS listings, a difference of 13 listings (2%) versus the prior month and 67 listings (10%) 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
2024-02-01 73 days 2,132 sqft
2024-03-01 54 days 2,152 sqft
2024-04-01 45 days 2,152 sqft
2024-05-01 37 days 2,187 sqft
Lexington's median listing age (time on market) for 2024-05-01 was 37 days. This is -27% shorter than the same period one year ago.

Lexington's median square footage for active listings during the 2024-05-01 period was 2,187 sqft. One year prior, the average listing was 2,301 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.