Lexington VA Loan Rates, Closing Costs & Stats

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 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 6.28% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.44% and one month ago for the week of 2024-10-04, the average rate was 5.97%.

    The average rate one year ago was 7.32%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.41%.

    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
    2024-06-01 $400,000 (-3.6%) $555,544 (3.5%) 0.90 878
    2024-07-01 $399,900 (-2.4%) $538,365 (2.0%) 0.91 968
    2024-08-01 $395,000 (-1.2%) $545,010 (6.9%) 0.92 996
    2024-09-01 $398,685 (0.4%) $552,623 (8.9%) 0.94 1,041
    2024-10-01 $396,305 (-0.3%) $549,112 (7.7%) 0.93 1,046
    Lexington's median listing price for 2024-10-01 was $396,305, a difference of $-1,256 (-0.3%) versus the prior year and $-2,380 versus the prior month.

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

    Lexington's average listing price for 2024-10-01 was $549,112, a difference of $39,406 (7.7%) versus the prior year and $-3,511 versus the prior month.

    For the 2024-10-01 period, Lexington had 1,046 MLS listings, a difference of 5 listings (0%) versus the prior month and 90 listings (9%) 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
    2024-06-01 43 days 2,180 sqft
    2024-07-01 43 days 2,148 sqft
    2024-08-01 49 days 2,133 sqft
    2024-09-01 48 days 2,146 sqft
    2024-10-01 48 days 2,137 sqft
    Lexington's median listing age (time on market) for 2024-10-01 was 48 days. This is -5% shorter than the same period one year ago.

    Lexington's median square footage for active listings during the 2024-10-01 period was 2,137 sqft. One year prior, the average listing was 2,171 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.