Nashville VA Loan Rates, Closing Costs & Stats
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN
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.
Nashville's 273 lenders originated 8,077 VA loans during 2021. The total origination value was $2,675,265,000, with an average VA loan value of $331,220.
Nashville VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Nashville
averaged
0.52%
for the week of 2022-11-25, compared to the national average (all VA variants) of
0% for the same period.
Nashville's average VA mortgage closing costs are $6,080.
The average rate for the prior week (2022-11-18) was
6.71% and
one month ago for the week of 2022-10-21, the
average rate was 7.06%.
The average rate one year ago was 3.54%.
For refis of the same type during the week of 2022-11-25, the average rate
was 0.02%.
Nashville 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 Nashville level.
The top Nashville VA lender as defined by loan originations is QUICKEN LOANS, LLC, with
601 VA loans originated. Their average total fees are
$5,989, which is $766
lower than the next largest lender,
Mortgage Research Center, LLC.
The lowest fee Nashville VA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($2,590), PENTAGON FEDERAL CREDIT UNION ($2,634), SUN WEST MORTGAGE COMPANY, INC. ($3,377), Prime Choice Funding Inc. ($3,433) and FREEDOM MORTGAGE CORPORATION ($3,492).
The lowest rate Nashville VA lenders (with over 10 loans originated) are
ACCELERATE MORTGAGE, LLC (2.18%), TJC Mortgage, Inc. (2.27%), SUN WEST MORTGAGE COMPANY, INC. (2.27%), KS StateBank (2.28%) and VILLAGE CAPITAL MORTGAGE (2.30%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Nashville (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 | $383,900 (12.9%) | $528,714 (12.1%) | 1.42 | 5,901 |
| 2018-02-01 | $381,947 (9.9%) | $525,943 (10.2%) | 1.39 | 5,920 |
| 2018-03-01 | $385,000 (9.6%) | $534,548 (10.0%) | 1.35 | 5,936 |
| 2018-04-01 | $388,250 (8.5%) | $539,811 (8.7%) | 1.32 | 6,330 |
| 2018-05-01 | $385,000 (-1.3%) | $537,540 (-4.6%) | 1.29 | 6,844 |
| 2018-06-01 | $379,900 (-2.6%) | $530,891 (-5.5%) | 1.27 | 7,346 |
| 2018-07-01 | $373,993 (-3.6%) | $524,743 (-4.9%) | 1.25 | 7,916 |
| 2018-08-01 | $369,450 (-5.0%) | $517,846 (-4.8%) | 1.24 | 8,143 |
| 2018-09-01 | $365,000 (-6.2%) | $508,211 (-5.8%) | 1.22 | 8,785 |
| 2018-10-01 | $359,888 (-6.4%) | $504,061 (-5.1%) | 1.22 | 9,144 |
| 2018-11-01 | $354,900 (-6.6%) | $501,324 (-5.1%) | 1.20 | 9,079 |
| 2018-12-01 | $355,900 (-7.2%) | $504,416 (-5.0%) | 1.23 | 8,461 |
| 2019-01-01 | $356,818 (-7.1%) | $503,907 (-4.7%) | 1.23 | 7,999 |
| 2019-02-01 | $359,900 (-5.8%) | $507,275 (-3.6%) | 1.22 | 7,775 |
| 2019-03-01 | $364,237 (-5.4%) | $521,323 (-2.5%) | 1.19 | 7,575 |
| 2019-04-01 | $369,945 (-4.7%) | $533,187 (-1.2%) | 1.17 | 7,507 |
| 2019-05-01 | $374,575 (-2.7%) | $539,243 (0.3%) | 1.17 | 7,790 |
| 2019-06-01 | $377,945 (-0.5%) | $548,017 (3.2%) | 1.18 | 7,801 |
| 2019-07-01 | $375,000 (0.3%) | $544,329 (3.7%) | 1.17 | 7,902 |
| 2019-08-01 | $373,636 (1.1%) | $545,376 (5.3%) | 1.18 | 7,864 |
| 2019-09-01 | $371,591 (1.8%) | $547,054 (7.6%) | 1.19 | 7,801 |
| 2019-10-01 | $369,950 (2.8%) | $546,341 (8.4%) | 1.19 | 7,832 |
| 2019-11-01 | $369,900 (4.2%) | $544,889 (8.7%) | 1.21 | 7,699 |
| 2019-12-01 | $367,338 (3.2%) | $542,275 (7.5%) | 1.22 | 7,106 |
| 2020-01-01 | $366,450 (2.7%) | $540,101 (7.2%) | 1.22 | 6,399 |
| 2020-02-01 | $369,900 (2.8%) | $544,894 (7.4%) | 1.21 | 5,943 |
| 2020-03-01 | $379,000 (4.1%) | $550,041 (5.5%) | 1.19 | 5,848 |
| 2020-04-01 | $376,045 (1.7%) | $538,460 (1.0%) | 1.18 | 6,580 |
| 2020-05-01 | $385,000 (2.8%) | $559,278 (3.7%) | 1.17 | 6,577 |
| 2020-06-01 | $391,993 (3.7%) | $578,103 (5.5%) | 1.15 | 6,112 |
| 2020-07-01 | $391,950 (4.5%) | $590,115 (8.4%) | 1.14 | 6,107 |
| 2020-08-01 | $394,900 (5.7%) | $609,426 (11.7%) | 1.13 | 5,365 |
| 2020-09-01 | $399,894 (7.6%) | $605,709 (10.7%) | 1.15 | 4,832 |
| 2020-10-01 | $399,900 (8.1%) | $619,132 (13.3%) | 1.15 | 4,552 |
| 2020-11-01 | $397,450 (7.5%) | $619,515 (13.7%) | 1.16 | 4,204 |
| 2020-12-01 | $394,950 (7.5%) | $623,314 (14.9%) | 1.17 | 3,728 |
| 2021-01-01 | $391,945 (7.0%) | $621,791 (15.1%) | 1.17 | 3,169 |
| 2021-02-01 | $396,228 (7.1%) | $649,883 (19.3%) | 1.15 | 2,524 |
| 2021-03-01 | $399,900 (5.5%) | $661,392 (20.2%) | 1.13 | 2,234 |
| 2021-04-01 | $410,500 (9.2%) | $690,342 (28.2%) | 1.11 | 2,070 |
| 2021-05-01 | $414,966 (7.8%) | $721,550 (29.0%) | 1.10 | 2,015 |
| 2021-06-01 | $427,475 (9.1%) | $756,577 (30.9%) | 1.13 | 2,151 |
| 2021-07-01 | $445,240 (13.6%) | $778,351 (31.9%) | 1.17 | 2,577 |
| 2021-08-01 | $439,950 (11.4%) | $764,954 (25.5%) | 1.17 | 2,683 |
| 2021-09-01 | $445,749 (11.5%) | $768,400 (26.9%) | 1.19 | 2,828 |
| 2021-10-01 | $455,000 (13.8%) | $777,865 (25.6%) | 1.21 | 2,893 |
| 2021-11-01 | $459,675 (15.7%) | $791,198 (27.7%) | 1.23 | 2,578 |
| 2021-12-01 | $459,900 (16.5%) | $821,856 (31.9%) | 1.25 | 2,055 |
| 2022-01-01 | $455,719 (16.3%) | $837,969 (34.8%) | 1.23 | 1,608 |
| 2022-02-01 | $472,425 (19.2%) | $822,441 (26.6%) | 1.23 | 1,539 |
| 2022-03-01 | $499,450 (24.9%) | $864,933 (30.8%) | 1.25 | 1,618 |
| 2022-04-01 | $525,000 (27.9%) | $896,168 (29.8%) | 1.25 | 1,986 |
| 2022-05-01 | $549,900 (32.5%) | $917,350 (27.1%) | 1.26 | 2,709 |
| 2022-06-01 | $561,533 (31.4%) | $884,548 (16.9%) | 1.25 | 3,952 |
| 2022-07-01 | $549,990 (23.5%) | $847,098 (8.8%) | 1.24 | 5,411 |
| 2022-08-01 | $533,167 (21.2%) | $811,682 (6.1%) | 1.23 | 6,089 |
| 2022-09-01 | $528,913 (18.7%) | $816,327 (6.2%) | 1.24 | 6,370 |
| 2022-10-01 | $525,000 (15.4%) | $816,584 (5.0%) | 1.24 | 7,087 |
Nashville's median listing price comes in at 124% of the national average.
Nashville's average listing price for 2022-10-01 was $816,584, a difference of $38,719 (5.0%) versus the prior year and $257 versus the prior month.
For the 2022-10-01 period, Nashville had 7,087 MLS listings, a difference of 717 listings (11%) versus the prior month and 4,194 listings (145%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Nashville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 51 days | 2,408 sqft |
| 2018-02-01 | 39 days | 2,403 sqft |
| 2018-03-01 | 36 days | 2,410 sqft |
| 2018-04-01 | 34 days | 2,411 sqft |
| 2018-05-01 | 33 days | 2,399 sqft |
| 2018-06-01 | 35 days | 2,400 sqft |
| 2018-07-01 | 36 days | 2,382 sqft |
| 2018-08-01 | 37 days | 2,345 sqft |
| 2018-09-01 | 38 days | 2,310 sqft |
| 2018-10-01 | 43 days | 2,287 sqft |
| 2018-11-01 | 44 days | 2,280 sqft |
| 2018-12-01 | 51 days | 2,289 sqft |
| 2019-01-01 | 55 days | 2,302 sqft |
| 2019-02-01 | 45 days | 2,304 sqft |
| 2019-03-01 | 40 days | 2,351 sqft |
| 2019-04-01 | 35 days | 2,393 sqft |
| 2019-05-01 | 33 days | 2,409 sqft |
| 2019-06-01 | 36 days | 2,415 sqft |
| 2019-07-01 | 37 days | 2,406 sqft |
| 2019-08-01 | 37 days | 2,398 sqft |
| 2019-09-01 | 38 days | 2,379 sqft |
| 2019-10-01 | 38 days | 2,357 sqft |
| 2019-11-01 | 41 days | 2,322 sqft |
| 2019-12-01 | 47 days | 2,318 sqft |
| 2020-01-01 | 49 days | 2,304 sqft |
| 2020-02-01 | 36 days | 2,308 sqft |
| 2020-03-01 | 34 days | 2,319 sqft |
| 2020-04-01 | 35 days | 2,303 sqft |
| 2020-05-01 | 37 days | 2,333 sqft |
| 2020-06-01 | 34 days | 2,329 sqft |
| 2020-07-01 | 32 days | 2,286 sqft |
| 2020-08-01 | 31 days | 2,235 sqft |
| 2020-09-01 | 32 days | 2,169 sqft |
| 2020-10-01 | 31 days | 2,121 sqft |
| 2020-11-01 | 32 days | 2,086 sqft |
| 2020-12-01 | 37 days | 2,054 sqft |
| 2021-01-01 | 35 days | 2,000 sqft |
| 2021-02-01 | 26 days | 1,997 sqft |
| 2021-03-01 | 19 days | 1,960 sqft |
| 2021-04-01 | 16 days | 1,958 sqft |
| 2021-05-01 | 12 days | 2,000 sqft |
| 2021-06-01 | 12 days | 1,987 sqft |
| 2021-07-01 | 15 days | 2,020 sqft |
| 2021-08-01 | 16 days | 2,028 sqft |
| 2021-09-01 | 19 days | 2,033 sqft |
| 2021-10-01 | 20 days | 2,051 sqft |
| 2021-11-01 | 22 days | 2,055 sqft |
| 2021-12-01 | 28 days | 2,053 sqft |
| 2022-01-01 | 26 days | 2,045 sqft |
| 2022-02-01 | 15 days | 2,037 sqft |
| 2022-03-01 | 11 days | 2,038 sqft |
| 2022-04-01 | 11 days | 2,103 sqft |
| 2022-05-01 | 12 days | 2,178 sqft |
| 2022-06-01 | 16 days | 2,242 sqft |
| 2022-07-01 | 21 days | 2,218 sqft |
| 2022-08-01 | 27 days | 2,213 sqft |
| 2022-09-01 | 31 days | 2,200 sqft |
| 2022-10-01 | 31 days | 2,194 sqft |
Nashville's median square footage for active listings during the 2022-10-01 period was 2,194 sqft. One year prior, the average listing was 2,051 sqft.
