Lexington VA Loans
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 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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.