Memphis VA Loan Rates, Closing Costs & Stats

MEMPHIS, TN-MS-AR

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Memphis's 160 lenders originated 2,553 VA loans during 2022. The total origination value was $803,585,000, with an average VA loan value of $314,761.

    Memphis VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Memphis averaged -0.32% for the week of 2023-11-24, compared to the national average (all VA variants) of 0% for the same period.

    Memphis's average VA mortgage closing costs are $6,180.

    The average rate for the prior week (2023-11-17) was 6.73% and one month ago for the week of 2023-10-20, the average rate was 7.06%.

    The average rate one year ago was 6.07%.

    For refis of the same type during the week of 2023-11-24, the average rate was -0.73%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Memphis 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 Memphis level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 383 5.18% $7,737
    QUICKEN LOANS, LLC 207 4.33% $10,693
    COMMUNITY MORTGAGE CORPORATION 147 4.70% $9,642
    NAVY FEDERAL CREDIT UNION 132 3.93% $6,678
    FREEDOM MORTGAGE CORPORATION 124 4.38% $11,662
    NEW DAY FINANCIAL, LLC 77 5.14% $11,044
    PENNYMAC LOAN SERVICES, LLC 74 3.57% $10,336
    UNITED WHOLESALE MORTGAGE, LLC 67 4.40% $11,866
    USAA Federal Savings Bank 65 4.59% $9,133
    LOANDEPOT.COM, LLC 62 4.36% $10,465
    Patriot Bank 57 4.49% $9,637
    Mr. Cooper ( Nationstar Mortgage ) 45 4.61% $12,068
    BARTLETT MORTGAGE, INC. 36 4.79% $9,015
    DHI MORTGAGE COMPANY, LTD. 30 4.36% $7,304
    CROSSCOUNTRY MORTGAGE, LLC 29 5.16% $8,890
    Eagle Bank and Trust Company 29 4.99% $6,996
    MORTGAGE INVESTORS GROUP, INC. 28 4.90% $10,426
    The Federal Savings Bank 27 4.72% $14,066
    CARDINAL FINANCIAL 25 4.86% $10,987
    AMERISAVE MORTGAGE CORPORATION 24 4.07% $10,938
    Trustmark National Bank 24 4.49% $6,851
    Bank of England 24 4.80% $10,393
    STOCKTON MORTGAGE CORPORATION 21 5.49% $11,693
    Pinnacle Bank 20 4.46% $9,708
    Flagstar Bank, FSB 20 4.14% $7,146
    PRIMELENDING, A PLAINSCAPITAL COMPANY 20 4.52% $8,218
    Evolve Bank & Trust 19 4.91% $10,790
    Mid-Continent Funding, Inc. 19 5.02% $7,944
    GUARANTEED RATE, INC. 19 5.68% $7,830
    HOME POINT FINANCIAL CORPORATION 18 4.51% $9,949
    Nations Lending Corporation 17 5.15% $9,958
    Regions Bank 16 4.62% $9,353
    Wolfe Financial, Inc 16 4.98% $11,646
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 15 4.41% $9,550
    CLEARPATH LENDING 14 4.03% $13,875
    MORTGAGE SOLUTIONS OF COLORADO, LLC 13 5.06% $11,293
    VILLAGE CAPITAL MORTGAGE 12 3.94% $8,503
    EVERETT FINANCIAL, INC. 12 5.77% $4,750
    PLANET HOME LENDING, LLC 12 4.83% $8,351
    First Horizon Bank 12 4.15% $5,043
    GUILD MORTGAGE COMPANY 11 4.45% $10,611
    PENTAGON FEDERAL CREDIT UNION 11 3.86% $6,281
    NEWREZ LLC 10 4.24% $7,908
    Barrington Bank & Trust Company, N.A. 10 4.28% $7,432
    Sierra Pacific Mortgage Company, Inc. 10 3.68% $11,141
    CMG MORTGAGE, INC. 10 4.30% $10,464
    SOUTHWEST FUNDING, LP 10 5.45% $14,667
    Hometown Lenders, Inc. 10 4.30% $8,763
    Plains Commerce Bank 9 4.01% $7,247
    BROKER SOLUTIONS, INC. 9 4.79% $17,432
    LAKEVIEW LOAN SERVICING, LLC 9 3.15% $3,420
    Wells Fargo Bank 8 4.34% $3,882
    Renasant Bank 8 3.83% $10,919
    FirstTrust Home Loans, Inc. 8 5.09% $5,662
    FirstBank 7 3.57% $11,645
    Magnolia Bank 7 4.73% $12,524
    MUTUAL OF OMAHA MORTGAGE, INC. 7 4.38% $9,046
    FINANCE OF AMERICA MORTGAGE LLC 7 4.66% $11,213
    Community Bank of Mississippi 7 4.39% $8,316
    BancorpSouth 7 4.98% $11,830
    HOMESTAR FINANCIAL CORPORATION 7 4.88% $10,262
    The Home Loan Expert LLC 6 4.60% $6,905
    Equity Prime Mortgage LLC 6 5.48% $7,751
    RELIANCE FIRST CAPITAL, LLC 6 4.60% $8,035
    FIRST COMMUNITY MORTGAGE, INC. 6 4.71% $9,190
    Carrington Mortgage Services, LLC 6 4.77% $8,087
    T2 FINANCIAL LLC 6 4.90% $8,141
    North American Savings Bank, F.S.B. 5 3.73% $12,906
    NBKC BANK 5 4.20% $7,568
    Citizens Bank 5 4.88% $7,552
    Independent Bank 5 4.48% $6,531
    U.S. Bank 4 4.15% $2,331
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 4.09% $10,699
    The Central Trust Bank 4 4.31% $6,729
    CRESCENT MORTGAGE COMPANY 4 4.84% $12,878
    Low VA Rates, LLC 4 3.91% $18,369
    PLAZA HOME MORTGAGE, INC. 4 5.59% $11,072
    UNION HOME MORTGAGE CORP. 3 4.08% $11,030
    Wyndham Capital Mortgage, Inc. 3 3.79% $6,866
    CALIBER HOME LOANS, INC. 3 3.50% $5,723
    Texana Bank 3 4.63% $10,567
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 5.16% $14,308
    SOVEREIGN LENDING GROUP INCORPORATED 3 4.58% $9,436
    MORTGAGE FINANCIAL SERVICES, LLC 3 5.54% $15,663
    FEDEX EMPLOYEES CREDIT ASSOCIATION 3 4.75% $13,330
    CONTOUR MORTGAGE CORPORATION 3 5.25% $16,407
    Paramount Residential Mortgage Group, Inc. 3 4.13% $10,299
    RUOFF MORTGAGE COMPANY, INC. 2 5.69% $4,602
    Hometown Equity Mortgage, LLC 2 4.88% $6,272
    The First National Bank of Middle Tennessee 2 4.06% $10,945
    Century Mortgage Company DBA Century Lending Company 2 3.63% $7,586
    AMERICAN FINANCING CORPORATION 2 3.69% $6,613
    PREMIA MORTGAGE, LLC 2 5.31% $8,131
    MOVEMENT MORTGAGE, LLC 2 5.19% $17,797
    First Federal Bank 2 3.75% $8,333
    BNC National Bank 2 3.81% $13,284
    BAY EQUITY LLC 2 4.94% $9,541
    NATIONS DIRECT MORTGAGE, LLC 2 5.94% $7,902
    Armed Forces Bank 2 4.50% $12,031
    GMFS LLC 2 3.94% $3,423
    Gateway First Bank 2 5.13% $8,656
    LOANPAL, LLC 2 3.06% $7,056
    First Citizens National Bank 2 4.25% $7,842
    NFM, INC. 2 4.31% $7,553
    CHURCHILL MORTGAGE CORPORATION 2 5.69% $7,115
    NBH Bank 1 5.50% $5,663
    AMERICAN HOME LENDING USA, LLC 1 3.50% $6,601
    AMERICAN INTERNET MORTGAGE, INC. 1 2.25% $14,255
    AMERICAN MORTGAGE SERVICES INCORPORATED 1 6.25% $280,302
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.25% $2,944
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.13% $32,963
    Atlantic Coast Mortgage, LLC 1 5.75% $17,177
    Austin Capital Bank SSB 1 2.88% $5,547
    BELEM SERVICING LLC 1 3.50% $7,355
    Capital Bank 1 4.25% $13,905
    CHARTER WEST BANK 1 2.63% $11,569
    Community First National Bank 1 5.75% $13,990
    Core Bank 1 3.25% $7,354
    DELMAR FINANCIAL COMPANY 1 3.75% $13,470
    EMBRACE HOME LOANS, INC. 1 5.38% $10,831
    FIDELITY BANK 1 6.38% $11,905
    First Guaranty Mortgage Corporation 1 2.75% $2,355
    First Home Bank 1 4.13% $15,562
    First Mortgage Solutions, LLC 1 3.75% $28,746
    FLAT BRANCH MORTGAGE, INC. 1 5.13% $17,672
    George Mason Mortgage, LLC 1 3.75% $10,860
    GUARANTY HOME MORTGAGE CORPORATION 1 5.63% $4,955
    HANCOCK MORTGAGE PARTNERS, LLC 1 5.13% $9,695
    HomePromise Corporation 1 7.25% $15,360
    HOMESIDE FINANCIAL, LLC 1 4.63% $5,614
    HOMESTEAD FUNDING CORP. 1 3.13% $23,208
    JPMorgan Chase Bank 1 4.75% $4,341
    LADERA LENDING, INC. 1 5.63% $6,684
    LAND HOME FINANCIAL SERVICES, INC. 1 6.88% $8,665
    Leaders Credit Union 1 3.63% $5,704
    LIBERTY HOME MORTGAGE CORPORATION 1 5.75% $14,175
    MICHIGAN MUTUAL, INC. 1 4.13% $5,975
    MILEND, INC. 1 5.25% $13,076
    M&T Bank 1 5.25% $8,412
    Academy Bank 1 5.75% $2,225
    Northpointe Bank 1 3.25% $7,364
    NP, Inc. 1 2.75% $7,081
    OCEANSIDE MORTGAGE COMPANY 1 3.25% $9,737
    PANORAMA MORTGAGE GROUP, LLC 1 6.13% $11,187
    Paramount Bank 1 4.75% $4,560
    Peoples Bank 1 5.99% $9,497
    PHH Mortgage Corporation 1 5.00% $10,613
    POLARIS HOME FUNDING CORP. 1 2.63% $12,152
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.25% $9,003
    Prime Choice Funding Inc. 1 4.25% $12,315
    Princeton Mortgage Corporation 1 6.75% $11,841
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $12,497
    Simmons Bank 1 3.75% $4,052
    SIRVA MORTGAGE, INC. 1 5.00% $7,517
    SOUTHERN TRUST MORTGAGE, LLC 1 6.13% $8,141
    SOUTHWEST STAGE FUNDING, LLC 1 6.38% $6,300
    Sunflower Bank 1 3.99% $11,261
    SUN WEST MORTGAGE COMPANY, INC. 1 3.87% $9,442
    TJC Mortgage, Inc. 1 4.75% $18,266
    Waterstone Mortgage Corporation 1 5.63% $21,048

    The top Memphis VA lender as defined by loan originations is Mortgage Research Center, LLC, with 383 VA loans originated. Their average total fees are $7,737, which is $2,956 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Memphis VA lenders (with over 10 loans originated) are EVERETT FINANCIAL, INC. ($4,750), First Horizon Bank ($5,043), PENTAGON FEDERAL CREDIT UNION ($6,281), NAVY FEDERAL CREDIT UNION ($6,678) and Trustmark National Bank ($6,851).

    The lowest rate Memphis VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.57%), Sierra Pacific Mortgage Company, Inc. (3.68%), PENTAGON FEDERAL CREDIT UNION (3.86%), NAVY FEDERAL CREDIT UNION (3.93%) and VILLAGE CAPITAL MORTGAGE (3.94%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Memphis (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 $186,800 (10.0%) $245,984 (5.7%) 0.69 3,814
    2018-02-01 $184,500 (8.6%) $242,839 (5.0%) 0.67 3,798
    2018-03-01 $185,000 (6.5%) $248,356 (5.6%) 0.65 3,799
    2018-04-01 $193,650 (7.6%) $255,251 (3.6%) 0.66 3,202
    2018-05-01 $199,950 (8.1%) $265,181 (5.2%) 0.67 3,161
    2018-06-01 $210,950 (8.6%) $267,513 (5.0%) 0.70 3,414
    2018-07-01 $212,900 (8.1%) $266,404 (4.4%) 0.71 3,758
    2018-08-01 $212,900 (9.2%) $265,195 (4.9%) 0.71 3,759
    2018-09-01 $212,000 (7.0%) $264,535 (4.1%) 0.71 3,761
    2018-10-01 $215,000 (11.0%) $267,139 (7.0%) 0.73 3,768
    2018-11-01 $210,000 (10.6%) $262,223 (5.1%) 0.71 3,732
    2018-12-01 $209,900 (12.6%) $256,634 (3.4%) 0.72 3,470
    2019-01-01 $204,925 (9.7%) $254,140 (3.3%) 0.71 3,141
    2019-02-01 $208,238 (12.9%) $257,700 (6.1%) 0.70 3,034
    2019-03-01 $214,186 (15.8%) $268,940 (8.3%) 0.70 2,969
    2019-04-01 $221,875 (14.6%) $280,519 (9.9%) 0.70 2,988
    2019-05-01 $230,000 (15.0%) $285,744 (7.8%) 0.72 3,002
    2019-06-01 $230,000 (9.0%) $288,824 (8.0%) 0.72 3,103
    2019-07-01 $231,075 (8.5%) $289,765 (8.8%) 0.72 3,245
    2019-08-01 $232,845 (9.4%) $289,702 (9.2%) 0.74 3,227
    2019-09-01 $231,189 (9.1%) $290,408 (9.8%) 0.74 3,194
    2019-10-01 $230,134 (7.0%) $291,712 (9.2%) 0.74 3,162
    2019-11-01 $232,700 (10.8%) $294,661 (12.4%) 0.76 3,093
    2019-12-01 $232,450 (10.7%) $292,234 (13.9%) 0.78 2,936
    2020-01-01 $228,200 (11.4%) $289,871 (14.1%) 0.76 2,744
    2020-02-01 $230,000 (10.5%) $295,406 (14.6%) 0.75 2,508
    2020-03-01 $242,735 (13.3%) $306,363 (13.9%) 0.76 2,390
    2020-04-01 $249,073 (12.3%) $312,663 (11.5%) 0.78 2,396
    2020-05-01 $249,900 (8.7%) $319,737 (11.9%) 0.76 2,225
    2020-06-01 $258,138 (12.2%) $330,546 (14.5%) 0.76 1,991
    2020-07-01 $261,900 (13.3%) $342,121 (18.1%) 0.76 1,811
    2020-08-01 $264,950 (13.8%) $339,364 (17.1%) 0.76 1,722
    2020-09-01 $259,906 (12.4%) $337,050 (16.1%) 0.74 1,614
    2020-10-01 $259,900 (12.9%) $339,376 (16.3%) 0.74 1,615
    2020-11-01 $257,500 (10.7%) $331,667 (12.6%) 0.75 1,552
    2020-12-01 $249,950 (7.5%) $320,577 (9.7%) 0.74 1,434
    2021-01-01 $240,000 (5.2%) $317,478 (9.5%) 0.72 1,261
    2021-02-01 $234,800 (2.1%) $320,566 (8.5%) 0.68 1,107
    2021-03-01 $238,900 (-1.6%) $328,999 (7.4%) 0.68 1,037
    2021-04-01 $239,950 (-3.7%) $330,975 (5.9%) 0.65 1,024
    2021-05-01 $239,900 (-4.0%) $325,602 (1.8%) 0.64 1,071
    2021-06-01 $242,875 (-5.9%) $322,398 (-2.5%) 0.64 1,189
    2021-07-01 $245,000 (-6.5%) $320,679 (-6.3%) 0.65 1,333
    2021-08-01 $249,900 (-5.7%) $325,344 (-4.1%) 0.67 1,441
    2021-09-01 $248,975 (-4.2%) $322,418 (-4.3%) 0.66 1,413
    2021-10-01 $265,000 (2.0%) $338,460 (-0.3%) 0.71 1,336
    2021-11-01 $257,500 (0.0%) $337,654 (1.8%) 0.69 1,283
    2021-12-01 $243,500 (-2.6%) $326,922 (2.0%) 0.66 1,236
    2022-01-01 $219,900 (-8.4%) $323,719 (2.0%) 0.59 1,090
    2022-02-01 $226,450 (-3.6%) $331,601 (3.4%) 0.59 960
    2022-03-01 $227,450 (-4.8%) $326,620 (-0.7%) 0.57 1,055
    2022-04-01 $246,700 (2.8%) $340,862 (3.0%) 0.59 1,152
    2022-05-01 $292,500 (21.9%) $366,848 (12.7%) 0.67 1,308
    2022-06-01 $305,000 (25.6%) $376,587 (16.8%) 0.68 1,586
    2022-07-01 $319,900 (30.6%) $376,112 (17.3%) 0.72 2,048
    2022-08-01 $313,000 (25.3%) $369,982 (13.7%) 0.72 2,207
    2022-09-01 $316,748 (27.2%) $370,822 (15.0%) 0.74 2,330
    2022-10-01 $319,950 (20.7%) $367,511 (8.6%) 0.75 2,586
    2022-11-01 $324,950 (26.2%) $369,180 (9.3%) 0.78 2,770
    2022-12-01 $325,000 (33.5%) $370,937 (13.5%) 0.80 2,658
    2023-01-01 $324,950 (47.8%) $364,778 (12.7%) 0.81 2,408
    2023-02-01 $323,190 (42.7%) $362,229 (9.2%) 0.78 2,267
    2023-03-01 $319,000 (40.3%) $355,899 (9.0%) 0.75 2,293
    2023-04-01 $324,900 (31.7%) $365,217 (7.1%) 0.76 2,335
    2023-05-01 $325,000 (11.1%) $369,604 (0.8%) 0.74 2,404
    2023-06-01 $327,275 (7.3%) $375,588 (-0.3%) 0.74 2,528
    2023-07-01 $325,000 (1.6%) $369,817 (-1.7%) 0.74 2,728
    2023-08-01 $320,950 (2.5%) $368,137 (-0.5%) 0.74 2,886
    2023-09-01 $310,000 (-2.1%) $360,107 (-2.9%) 0.72 3,159
    2023-10-01 $318,500 (-0.5%) $365,974 (-0.4%) 0.75 3,370
    Memphis's median listing price for 2023-10-01 was $318,500, a difference of $-1,450 (-0.5%) versus the prior year and $8,500 versus the prior month.

    Memphis's median listing price comes in at 75% of the national average.

    Memphis's average listing price for 2023-10-01 was $365,974, a difference of $-1,537 (-0.4%) versus the prior year and $5,867 versus the prior month.

    For the 2023-10-01 period, Memphis had 3,370 MLS listings, a difference of 211 listings (7%) versus the prior month and 784 listings (30%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Memphis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 76 days 2,121 sqft
    2018-02-01 69 days 2,108 sqft
    2018-03-01 50 days 2,098 sqft
    2018-04-01 51 days 2,133 sqft
    2018-05-01 50 days 2,158 sqft
    2018-06-01 47 days 2,177 sqft
    2018-07-01 48 days 2,174 sqft
    2018-08-01 54 days 2,225 sqft
    2018-09-01 57 days 2,238 sqft
    2018-10-01 59 days 2,250 sqft
    2018-11-01 61 days 2,268 sqft
    2018-12-01 67 days 2,259 sqft
    2019-01-01 75 days 2,220 sqft
    2019-02-01 70 days 2,228 sqft
    2019-03-01 60 days 2,275 sqft
    2019-04-01 51 days 2,318 sqft
    2019-05-01 47 days 2,328 sqft
    2019-06-01 51 days 2,300 sqft
    2019-07-01 51 days 2,239 sqft
    2019-08-01 53 days 2,265 sqft
    2019-09-01 54 days 2,275 sqft
    2019-10-01 55 days 2,296 sqft
    2019-11-01 59 days 2,300 sqft
    2019-12-01 67 days 2,306 sqft
    2020-01-01 74 days 2,295 sqft
    2020-02-01 72 days 2,306 sqft
    2020-03-01 55 days 2,416 sqft
    2020-04-01 52 days 2,393 sqft
    2020-05-01 56 days 2,376 sqft
    2020-06-01 52 days 2,410 sqft
    2020-07-01 47 days 2,327 sqft
    2020-08-01 45 days 2,435 sqft
    2020-09-01 44 days 2,451 sqft
    2020-10-01 43 days 2,490 sqft
    2020-11-01 46 days 2,474 sqft
    2020-12-01 52 days 2,479 sqft
    2021-01-01 59 days 2,466 sqft
    2021-02-01 57 days 2,314 sqft
    2021-03-01 50 days 2,307 sqft
    2021-04-01 39 days 2,290 sqft
    2021-05-01 35 days 2,400 sqft
    2021-06-01 34 days 2,270 sqft
    2021-07-01 35 days 2,290 sqft
    2021-08-01 38 days 2,295 sqft
    2021-09-01 40 days 2,284 sqft
    2021-10-01 33 days 2,241 sqft
    2021-11-01 38 days 2,226 sqft
    2021-12-01 44 days 2,347 sqft
    2022-01-01 47 days 2,277 sqft
    2022-02-01 39 days 2,192 sqft
    2022-03-01 36 days 2,123 sqft
    2022-04-01 32 days 2,300 sqft
    2022-05-01 31 days 2,454 sqft
    2022-06-01 30 days 2,500 sqft
    2022-07-01 31 days 2,455 sqft
    2022-08-01 38 days 2,426 sqft
    2022-09-01 42 days 2,310 sqft
    2022-10-01 45 days 2,274 sqft
    2022-11-01 50 days 2,237 sqft
    2022-12-01 61 days 2,279 sqft
    2023-01-01 71 days 2,269 sqft
    2023-02-01 67 days 2,248 sqft
    2023-03-01 53 days 2,230 sqft
    2023-04-01 47 days 2,265 sqft
    2023-05-01 43 days 2,249 sqft
    2023-06-01 44 days 2,281 sqft
    2023-07-01 44 days 2,226 sqft
    2023-08-01 46 days 2,231 sqft
    2023-09-01 46 days 2,205 sqft
    2023-10-01 50 days 2,227 sqft
    Memphis's median listing age (time on market) for 2023-10-01 was 50 days. This is 11% longer than the same period one year ago.

    Memphis's median square footage for active listings during the 2023-10-01 period was 2,227 sqft. One year prior, the average listing was 2,274 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.