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
5.74%
for the week of 2024-10-04, compared to the national average (all VA variants) of
5.596% for the same period.
Lexington's average VA mortgage closing costs are $5,568.
The average rate for the prior week (2024-09-27) was
5.67% and
one month ago for the week of 2024-08-30, the
average rate was 5.69%.
The average rate one year ago was 7.43%.
For refis of the same type during the week of 2024-10-04, the average rate
was 5.77%.
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.
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. LouisDate | 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%) | 0.00 | 1,041 |
Lexington's median listing price comes in at 0% of the national average.
Lexington's average listing price for 2024-09-01 was $552,623, a difference of $45,027 (8.9%) versus the prior year and $7,613 versus the prior month.
For the 2024-09-01 period, Lexington had 1,041 MLS listings, a difference of 45 listings (5%) versus the prior month and 147 listings (16%) 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 | 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 | 0 days | 2,146 sqft |
Lexington's median square footage for active listings during the 2024-09-01 period was 2,146 sqft. One year prior, the average listing was 2,200 sqft.