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%.

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

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 151 2.89% $6,350
QUICKEN LOANS, LLC 142 2.42% $3,775
FREEDOM MORTGAGE CORPORATION 91 2.49% $2,193
PENNYMAC LOAN SERVICES, LLC 50 2.44% $4,560
NEW DAY FINANCIAL, LLC 46 2.78% $7,213
USAA Federal Savings Bank 41 2.78% $4,836
ARK-LA-TEX FINANCIAL SERVICES, LLC. 40 3.13% $7,449
NAVY FEDERAL CREDIT UNION 30 2.51% $4,986
AMERICAN MORTGAGE SERVICE COMPANY 30 2.58% $4,793
STOCKTON MORTGAGE CORPORATION 28 3.05% $6,880
LAKEVIEW LOAN SERVICING, LLC 28 2.63% $2,688
CALIBER HOME LOANS, INC. 27 2.68% $5,740
UNITED WHOLESALE MORTGAGE, LLC 26 2.57% $6,331
Central Bank & Trust Company 22 2.47% $3,746
VILLAGE CAPITAL & INVESTMENT LLC 21 2.46% $2,521
Bank of England 20 3.16% $6,787
Guardian Savings Bank, A Federal Savings Bank 19 2.43% $5,728
LOANDEPOT.COM, LLC 19 2.70% $5,127
Mr. Cooper ( Nationstar Mortgage ) 18 2.88% $3,217
Hometown Lenders, Inc. 17 3.17% $5,808
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 2.96% $3,754
WesBanco Bank, Inc. 11 2.63% $5,930
Barrington Bank & Trust Company, N.A. 11 2.79% $4,153
HOME POINT FINANCIAL CORPORATION 10 2.44% $3,501
The Federal Savings Bank 10 2.46% $6,518
Northpointe Bank 10 2.76% $7,022
Prosperity Home Mortgage, LLC 10 2.71% $7,758
PENTAGON FEDERAL CREDIT UNION 9 2.33% $4,268
Wells Fargo Bank 9 2.40% $4,051
AMERISAVE MORTGAGE CORPORATION 8 2.75% $3,189
CROSSCOUNTRY MORTGAGE, LLC 8 2.94% $4,534
PLANET HOME LENDING, LLC 7 2.71% $2,888
Citizens Bank 7 2.63% $4,281
North American Savings Bank, F.S.B. 7 2.45% $3,485
NEWREZ LLC 7 2.86% $2,875
Fifth Third Bank 7 2.89% $6,136
Sierra Pacific Mortgage Company, Inc. 6 2.94% $6,567
MOVEMENT MORTGAGE, LLC 6 2.81% $7,642
FIRST COMMUNITY MORTGAGE, INC. 5 2.48% $4,915
CLEARPATH LENDING 5 2.43% $3,768
Low VA Rates, LLC 5 2.40% $3,796
Republic State Mortgage Co. 5 2.75% $8,547
Carrington Mortgage Services, LLC 5 2.78% $5,063
Kentucky Bank 5 2.50% $4,221
First Guaranty Mortgage Corporation 5 2.50% $6,403
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 3.19% $7,552
Republic Bank & Trust Company 4 2.63% $3,223
SOUTH CENTRAL BANK, INC. 4 2.66% $3,766
THE MORTGAGE WAREHOUSE,LLC 4 2.41% $6,183
Truist Bank 4 3.01% $4,493
AMERICAN FINANCIAL NETWORK, INC. 4 3.22% $8,107
FINANCE OF AMERICA MORTGAGE LLC 4 2.78% $2,413
GUARANTEED RATE, INC. 4 2.59% $6,672
HAMILTON HOME LOANS, INC. 4 3.00% $4,468
MUTUAL OF OMAHA MORTGAGE, INC. 4 2.50% $5,207
InterContinental Capital Group, Inc 3 3.25% $4,218
GENEVA FINANCIAL, LLC 3 2.88% $8,911
BNC National Bank 3 2.29% $5,907
Flagstar Bank, FSB 3 2.92% $1,296
Nations Lending Corporation 3 2.88% $9,321
U.S. Bank 3 2.96% $8,312
NBKC BANK 3 2.33% $963
UNION HOME MORTGAGE CORP. 3 2.92% $7,630
SWBC MORTGAGE CORPORATION 3 3.17% $4,725
CMG MORTGAGE, INC. 3 2.88% $4,151
Peoples Exchange Bank 3 2.25% $4,310
AMERIFIRST FINANCIAL CORPORATION 3 3.04% $4,697
RELIANCE FIRST CAPITAL, LLC 3 3.08% $12,256
PLAZA HOME MORTGAGE, INC. 3 3.13% $2,644
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 3.13% $5,593
Manufacturers and Traders Trust Company 3 2.92% $2,499
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.50% $4,037
GoPrime Mortgage, Inc. 2 3.75% $2,568
Magnolia Bank 2 2.44% $6,289
EVANSVILLE TEACHERS 2 2.25% $3,051
ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 3.44% $6,426
SUN WEST MORTGAGE COMPANY, INC. 2 2.75% $2,443
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 2.94% $4,208
NP, Inc. 2 2.38% $2,391
First Federal Bank 2 2.75% $12,523
Commonwealth Bank and Trust Company 2 2.63% $5,519
Old National Bank 2 2.75% $6,976
PNC Bank 2 2.75% $1,532
Paramount Residential Mortgage Group, Inc. 2 2.38% $1,401
SOVEREIGN LENDING GROUP INCORPORATED 2 3.44% $11,373
Wyndham Capital Mortgage, Inc. 1 2.75% $14,880
AMERICAN ADVISORS GROUP 1 2.62% $16,935
AMERICAN FINANCING CORPORATION 1 2.75% $4,742
ASHLAND Credit Union 1 3.13% $8,457
BROKER SOLUTIONS, INC. 1 3.25% $4,085
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.25% $8,123
Colonial Savings, F.A. 1 3.75% $7,481
CRESCENT MORTGAGE COMPANY 1 2.50% $4,361
DAS Acquisition Company, LLC 1 2.75% $4,032
FBC MORTGAGE, LLC 1 3.13% $3,186
First Federal Bank of Kansas City 1 2.75% $3,486
First Home Bank 1 3.13% $8,366
Fortera Federal Credit Union 1 2.63% $2,320
HALLMARK HOME MORTGAGE, LLC 1 2.63% $13,748
HOMESIDE FINANCIAL, LLC 1 2.50% $1,277
JPMorgan Chase Bank 1 3.63% $10,195
KS StateBank 1 2.50% $15,789
Lakeview Community Capital, LLC 1 2.50% $1,030
LENOX FINANCIAL MORTGAGE CORPORATION 1 2.75% $5,662
MORTGAGE INVESTORS GROUP, INC. 1 2.50% $9,186
Paramount Bank 1 2.63% $2,070
PHH Mortgage Corporation 1 2.63% $3,314
Regions Bank 1 2.75% $13,893
ROSS MORTGAGE CORPORATION 1 2.75% $4,585
SFMC, LP 1 2.88% $2,904
Stock Yards Bank & Trust Company 1 2.38% $2,088
The Union Bank Company 1 3.13% $2,785
THRIVE MORTGAGE, LLC 1 3.13% $5,206
Union Savings Bank 1 2.88% $303
UNITED SECURITY FINANCIAL CORP 1 2.38% $2,127
VAN DYK MORTGAGE CORPORATION 1 3.25% $2,668
Western Ohio Mortgage Corporation 1 2.75% $3,456
AMCAP MORTGAGE, LTD. 1 2.50% $4,673

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. Louis
Date 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 for 2022-04-01 was $385,000, a difference of $52,265 (15.7%) versus the prior year and $25,500 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2022-04-01 was 43 days. This is -19% shorter than the same period one year ago.

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.

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.