Nashville VA Loans
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 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
5.28%
for the week of 2022-05-13, compared to the national average (all VA variants) of
5.158% for the same period.
The average rate for the prior week (2022-05-06) was
5.61% and
one month ago for the week of 2022-04-08, the
average rate was 4.94%.
The average rate one year ago was 2.85%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.08%.
Nashville 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 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 & INVESTMENT LLC (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 | $380,000 (11.8%) | $528,157 (11.0%) | 1.40 | 5,996 |
| 2018-02-01 | $379,995 (9.8%) | $526,531 (9.7%) | 1.37 | 5,964 |
| 2018-03-01 | $384,483 (9.4%) | $535,384 (9.4%) | 1.33 | 5,991 |
| 2018-04-01 | $387,450 (8.3%) | $539,706 (8.0%) | 1.30 | 6,377 |
| 2018-05-01 | $382,900 (-1.8%) | $537,435 (-5.2%) | 1.28 | 6,921 |
| 2018-06-01 | $378,000 (-3.0%) | $531,443 (-5.8%) | 1.26 | 7,468 |
| 2018-07-01 | $369,950 (-4.6%) | $527,091 (-4.9%) | 1.23 | 8,000 |
| 2018-08-01 | $369,450 (-4.4%) | $520,521 (-4.5%) | 1.23 | 8,244 |
| 2018-09-01 | $364,900 (-5.5%) | $509,331 (-5.5%) | 1.22 | 8,946 |
| 2018-10-01 | $359,550 (-6.0%) | $505,923 (-4.7%) | 1.20 | 9,286 |
| 2018-11-01 | $350,125 (-7.8%) | $502,001 (-4.9%) | 1.17 | 9,221 |
| 2018-12-01 | $354,900 (-6.6%) | $506,632 (-4.4%) | 1.22 | 8,632 |
| 2019-01-01 | $355,589 (-6.4%) | $505,506 (-4.3%) | 1.23 | 8,107 |
| 2019-02-01 | $357,520 (-5.9%) | $508,229 (-3.5%) | 1.20 | 7,852 |
| 2019-03-01 | $364,186 (-5.3%) | $524,392 (-2.1%) | 1.19 | 7,623 |
| 2019-04-01 | $369,900 (-4.5%) | $536,902 (-0.5%) | 1.16 | 7,501 |
| 2019-05-01 | $371,428 (-3.0%) | $538,755 (0.3%) | 1.14 | 7,857 |
| 2019-06-01 | $375,000 (-0.8%) | $549,169 (3.3%) | 1.15 | 7,831 |
| 2019-07-01 | $375,500 (1.5%) | $548,314 (4.0%) | 1.17 | 7,933 |
| 2019-08-01 | $375,100 (1.5%) | $548,917 (5.5%) | 1.18 | 7,717 |
| 2019-09-01 | $373,400 (2.3%) | $548,907 (7.8%) | 1.19 | 7,503 |
| 2019-10-01 | $369,900 (2.9%) | $545,241 (7.8%) | 1.18 | 7,868 |
| 2019-11-01 | $369,900 (5.7%) | $546,161 (8.8%) | 1.19 | 7,744 |
| 2019-12-01 | $367,700 (3.6%) | $548,213 (8.2%) | 1.23 | 7,167 |
| 2020-01-01 | $365,450 (2.8%) | $547,694 (8.4%) | 1.22 | 6,447 |
| 2020-02-01 | $369,900 (3.5%) | $554,679 (9.1%) | 1.19 | 5,912 |
| 2020-03-01 | $378,700 (4.0%) | $558,260 (6.5%) | 1.18 | 5,836 |
| 2020-04-01 | $374,995 (1.4%) | $544,041 (1.3%) | 1.17 | 6,626 |
| 2020-05-01 | $385,000 (3.7%) | $564,918 (4.9%) | 1.17 | 6,498 |
| 2020-06-01 | $390,000 (4.0%) | $582,703 (6.1%) | 1.14 | 6,012 |
| 2020-07-01 | $389,945 (3.9%) | $592,991 (8.2%) | 1.12 | 6,225 |
| 2020-08-01 | $395,418 (5.4%) | $609,514 (11.0%) | 1.13 | 5,347 |
| 2020-09-01 | $399,900 (7.1%) | $605,249 (10.3%) | 1.14 | 4,698 |
| 2020-10-01 | $399,900 (8.1%) | $619,953 (13.7%) | 1.14 | 4,474 |
| 2020-11-01 | $397,218 (7.4%) | $618,919 (13.3%) | 1.14 | 4,070 |
| 2020-12-01 | $395,900 (7.7%) | $620,901 (13.3%) | 1.16 | 3,676 |
| 2021-01-01 | $398,187 (9.0%) | $622,966 (13.7%) | 1.17 | 3,135 |
| 2021-02-01 | $397,450 (7.5%) | $650,958 (17.4%) | 1.14 | 2,450 |
| 2021-03-01 | $399,900 (5.6%) | $664,141 (19.0%) | 1.12 | 2,145 |
| 2021-04-01 | $413,805 (10.4%) | $695,623 (27.9%) | 1.11 | 1,961 |
| 2021-05-01 | $415,000 (7.8%) | $728,675 (29.0%) | 1.09 | 1,899 |
| 2021-06-01 | $429,450 (10.1%) | $753,562 (29.3%) | 1.12 | 2,100 |
| 2021-07-01 | $446,000 (14.4%) | $783,640 (32.2%) | 1.16 | 2,411 |
| 2021-08-01 | $439,900 (11.3%) | $761,839 (25.0%) | 1.16 | 2,618 |
| 2021-09-01 | $445,413 (11.4%) | $768,294 (26.9%) | 1.17 | 2,716 |
| 2021-10-01 | $450,000 (12.5%) | $773,902 (24.8%) | 1.18 | 2,819 |
| 2021-11-01 | $455,450 (14.7%) | $797,105 (28.8%) | 1.20 | 2,525 |
| 2021-12-01 | $459,900 (16.2%) | $834,725 (34.4%) | 1.23 | 1,985 |
| 2022-01-01 | $453,000 (13.8%) | $841,599 (35.1%) | 1.21 | 1,606 |
| 2022-02-01 | $472,450 (18.9%) | $832,315 (27.9%) | 1.20 | 1,489 |
| 2022-03-01 | $499,900 (25.0%) | $875,195 (31.8%) | 1.23 | 1,497 |
| 2022-04-01 | $524,900 (26.9%) | $904,674 (30.1%) | 1.24 | 1,778 |
Nashville's median listing price comes in at 124% of the national average.
Nashville's average listing price for 2022-04-01 was $904,674, a difference of $209,051 (30.1%) versus the prior year and $29,479 versus the prior month.
For the 2022-04-01 period, Nashville had 1,778 MLS listings, a difference of 281 listings (19%) versus the prior month and -183 listings (-9%) 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 | 52 days | 2,405 sqft |
| 2018-02-01 | 39 days | 2,401 sqft |
| 2018-03-01 | 36 days | 2,400 sqft |
| 2018-04-01 | 35 days | 2,408 sqft |
| 2018-05-01 | 35 days | 2,396 sqft |
| 2018-06-01 | 35 days | 2,390 sqft |
| 2018-07-01 | 36 days | 2,376 sqft |
| 2018-08-01 | 37 days | 2,334 sqft |
| 2018-09-01 | 38 days | 2,308 sqft |
| 2018-10-01 | 42 days | 2,285 sqft |
| 2018-11-01 | 43 days | 2,273 sqft |
| 2018-12-01 | 50 days | 2,280 sqft |
| 2019-01-01 | 54 days | 2,301 sqft |
| 2019-02-01 | 45 days | 2,304 sqft |
| 2019-03-01 | 39 days | 2,341 sqft |
| 2019-04-01 | 35 days | 2,392 sqft |
| 2019-05-01 | 34 days | 2,406 sqft |
| 2019-06-01 | 36 days | 2,415 sqft |
| 2019-07-01 | 37 days | 2,407 sqft |
| 2019-08-01 | 39 days | 2,404 sqft |
| 2019-09-01 | 38 days | 2,389 sqft |
| 2019-10-01 | 37 days | 2,360 sqft |
| 2019-11-01 | 42 days | 2,327 sqft |
| 2019-12-01 | 46 days | 2,322 sqft |
| 2020-01-01 | 49 days | 2,307 sqft |
| 2020-02-01 | 36 days | 2,308 sqft |
| 2020-03-01 | 35 days | 2,330 sqft |
| 2020-04-01 | 35 days | 2,305 sqft |
| 2020-05-01 | 37 days | 2,340 sqft |
| 2020-06-01 | 34 days | 2,333 sqft |
| 2020-07-01 | 31 days | 2,291 sqft |
| 2020-08-01 | 32 days | 2,239 sqft |
| 2020-09-01 | 33 days | 2,175 sqft |
| 2020-10-01 | 32 days | 2,137 sqft |
| 2020-11-01 | 32 days | 2,093 sqft |
| 2020-12-01 | 37 days | 2,066 sqft |
| 2021-01-01 | 36 days | 2,003 sqft |
| 2021-02-01 | 26 days | 1,995 sqft |
| 2021-03-01 | 22 days | 1,968 sqft |
| 2021-04-01 | 19 days | 1,955 sqft |
| 2021-05-01 | 15 days | 2,000 sqft |
| 2021-06-01 | 15 days | 1,993 sqft |
| 2021-07-01 | 17 days | 2,026 sqft |
| 2021-08-01 | 19 days | 2,040 sqft |
| 2021-09-01 | 21 days | 2,044 sqft |
| 2021-10-01 | 22 days | 2,056 sqft |
| 2021-11-01 | 24 days | 2,056 sqft |
| 2021-12-01 | 31 days | 2,057 sqft |
| 2022-01-01 | 29 days | 2,041 sqft |
| 2022-02-01 | 16 days | 2,046 sqft |
| 2022-03-01 | 14 days | 2,042 sqft |
| 2022-04-01 | 11 days | 2,112 sqft |
Nashville's median square footage for active listings during the 2022-04-01 period was 2,112 sqft. One year prior, the average listing was 1,955 sqft.
