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 230 lenders originated 3,774 VA loans during 2022. The total origination value was $1,537,450,000, with an average VA loan value of $407,379.
Nashville VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Nashville
averaged
6.32%
for the week of 2023-05-26, compared to the national average (all VA variants) of
6.408% for the same period.
Nashville's average VA mortgage closing costs are $6,739.
The average rate for the prior week (2023-05-19) was
5.75% and
one month ago for the week of 2023-04-21, the
average rate was 6.07%.
The average rate one year ago was 4.84%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.35%.
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 Mortgage Research Center, LLC, with
310 VA loans originated. Their average total fees are
$9,015, which is $5,084
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Nashville VA lenders (with over 10 loans originated) are
GUARANTY HOME MORTGAGE CORPORATION ($4,169), EAGLE HOME MORTGAGE, LLC ($5,358), PENTAGON FEDERAL CREDIT UNION ($5,757), MORTGAGE INVESTORS GROUP, INC. ($5,919) and PULTE MORTGAGE LLC ($6,752).
The lowest rate Nashville VA lenders (with over 10 loans originated) are
PENTAGON FEDERAL CREDIT UNION (3.36%), PENNYMAC LOAN SERVICES, LLC (3.53%), Wells Fargo Bank (3.57%), North American Savings Bank, F.S.B. (3.59%) and LAKEVIEW LOAN SERVICING, LLC (3.83%).
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%) | $528,729 (12.1%) | 1.42 | 5,900 |
| 2018-02-01 | $381,920 (9.9%) | $525,957 (10.2%) | 1.39 | 5,919 |
| 2018-03-01 | $385,000 (9.6%) | $534,563 (10.0%) | 1.35 | 5,935 |
| 2018-04-01 | $388,248 (8.5%) | $539,826 (8.7%) | 1.32 | 6,329 |
| 2018-05-01 | $385,000 (-1.3%) | $537,554 (-4.6%) | 1.29 | 6,843 |
| 2018-06-01 | $379,900 (-2.6%) | $530,903 (-5.5%) | 1.27 | 7,345 |
| 2018-07-01 | $373,968 (-3.6%) | $524,753 (-4.9%) | 1.25 | 7,915 |
| 2018-08-01 | $369,450 (-5.0%) | $517,856 (-4.8%) | 1.24 | 8,142 |
| 2018-09-01 | $365,000 (-6.2%) | $508,219 (-5.8%) | 1.23 | 8,784 |
| 2018-10-01 | $359,888 (-6.3%) | $504,061 (-5.1%) | 1.22 | 9,144 |
| 2018-11-01 | $354,900 (-6.6%) | $501,328 (-5.1%) | 1.20 | 9,078 |
| 2018-12-01 | $355,900 (-7.2%) | $504,425 (-5.0%) | 1.23 | 8,460 |
| 2019-01-01 | $356,678 (-7.1%) | $503,911 (-4.7%) | 1.23 | 7,999 |
| 2019-02-01 | $359,900 (-5.8%) | $507,277 (-3.6%) | 1.22 | 7,775 |
| 2019-03-01 | $364,900 (-5.2%) | $523,067 (-2.2%) | 1.22 | 7,483 |
| 2019-04-01 | $369,945 (-4.7%) | $533,102 (-1.3%) | 1.17 | 7,510 |
| 2019-05-01 | $374,700 (-2.7%) | $539,187 (0.3%) | 1.17 | 7,778 |
| 2019-06-01 | $377,995 (-0.5%) | $548,123 (3.2%) | 1.18 | 7,786 |
| 2019-07-01 | $375,000 (0.3%) | $544,513 (3.8%) | 1.17 | 7,885 |
| 2019-08-01 | $384,500 (4.1%) | $559,871 (8.1%) | 1.21 | 7,438 |
| 2019-09-01 | $385,900 (5.7%) | $578,462 (13.8%) | 1.22 | 6,588 |
| 2019-10-01 | $369,950 (2.8%) | $546,904 (8.5%) | 1.19 | 7,806 |
| 2019-11-01 | $369,900 (4.2%) | $545,284 (8.8%) | 1.21 | 7,679 |
| 2019-12-01 | $367,487 (3.3%) | $542,668 (7.6%) | 1.23 | 7,087 |
| 2020-01-01 | $366,450 (2.7%) | $540,547 (7.3%) | 1.22 | 6,379 |
| 2020-02-01 | $369,900 (2.8%) | $545,379 (7.5%) | 1.21 | 5,922 |
| 2020-03-01 | $379,601 (4.0%) | $550,553 (5.3%) | 1.19 | 5,827 |
| 2020-04-01 | $376,215 (1.7%) | $538,890 (1.1%) | 1.18 | 6,559 |
| 2020-05-01 | $385,000 (2.8%) | $559,784 (3.8%) | 1.17 | 6,557 |
| 2020-06-01 | $392,198 (3.8%) | $578,699 (5.6%) | 1.16 | 6,092 |
| 2020-07-01 | $391,995 (4.5%) | $590,763 (8.5%) | 1.14 | 6,087 |
| 2020-08-01 | $394,990 (2.7%) | $610,227 (9.0%) | 1.13 | 5,345 |
| 2020-09-01 | $399,900 (3.6%) | $606,532 (4.9%) | 1.15 | 4,812 |
| 2020-10-01 | $399,900 (8.1%) | $620,095 (13.4%) | 1.15 | 4,532 |
| 2020-11-01 | $398,225 (7.7%) | $620,547 (13.8%) | 1.16 | 4,184 |
| 2020-12-01 | $394,950 (7.5%) | $624,473 (15.1%) | 1.17 | 3,708 |
| 2021-01-01 | $392,908 (7.2%) | $623,176 (15.3%) | 1.17 | 3,149 |
| 2021-02-01 | $397,400 (7.4%) | $651,751 (19.5%) | 1.16 | 2,504 |
| 2021-03-01 | $399,900 (5.4%) | $663,517 (20.5%) | 1.13 | 2,214 |
| 2021-04-01 | $411,943 (9.5%) | $692,613 (28.5%) | 1.12 | 2,049 |
| 2021-05-01 | $415,000 (7.8%) | $724,694 (29.5%) | 1.10 | 1,994 |
| 2021-06-01 | $428,250 (9.2%) | $759,976 (31.3%) | 1.13 | 2,131 |
| 2021-07-01 | $449,000 (14.5%) | $781,651 (32.3%) | 1.18 | 2,557 |
| 2021-08-01 | $442,175 (12.0%) | $767,505 (25.8%) | 1.18 | 2,663 |
| 2021-09-01 | $447,500 (11.9%) | $770,928 (27.1%) | 1.19 | 2,809 |
| 2021-10-01 | $457,945 (14.5%) | $780,363 (25.9%) | 1.22 | 2,874 |
| 2021-11-01 | $459,945 (15.5%) | $793,977 (28.0%) | 1.23 | 2,558 |
| 2021-12-01 | $459,950 (16.5%) | $825,715 (32.2%) | 1.25 | 2,035 |
| 2022-01-01 | $459,445 (16.9%) | $842,737 (35.2%) | 1.24 | 1,622 |
| 2022-02-01 | $475,500 (19.7%) | $827,133 (26.9%) | 1.24 | 1,519 |
| 2022-03-01 | $499,900 (25.0%) | $869,937 (31.1%) | 1.25 | 1,597 |
| 2022-04-01 | $525,000 (27.4%) | $900,194 (30.0%) | 1.25 | 1,965 |
| 2022-05-01 | $549,900 (32.5%) | $920,783 (27.1%) | 1.26 | 2,689 |
| 2022-06-01 | $562,450 (31.3%) | $886,777 (16.7%) | 1.25 | 3,933 |
| 2022-07-01 | $550,000 (22.5%) | $848,550 (8.6%) | 1.24 | 5,391 |
| 2022-08-01 | $534,500 (20.9%) | $812,930 (5.9%) | 1.23 | 6,071 |
| 2022-09-01 | $529,450 (18.3%) | $817,540 (6.1%) | 1.24 | 6,351 |
| 2022-10-01 | $525,000 (14.6%) | $817,624 (4.8%) | 1.24 | 7,069 |
| 2022-11-01 | $524,529 (14.0%) | $807,326 (1.7%) | 1.26 | 7,270 |
| 2022-12-01 | $519,000 (12.8%) | $807,194 (-2.2%) | 1.28 | 6,629 |
| 2023-01-01 | $509,588 (10.9%) | $786,291 (-6.7%) | 1.26 | 6,420 |
| 2023-02-01 | $517,765 (8.9%) | $799,725 (-3.3%) | 1.25 | 6,071 |
| 2023-03-01 | $527,500 (5.5%) | $820,924 (-5.6%) | 1.24 | 5,642 |
| 2023-04-01 | $564,025 (7.4%) | $867,354 (-3.7%) | 1.31 | 5,756 |
Nashville's median listing price comes in at 131% of the national average.
Nashville's average listing price for 2023-04-01 was $867,354, a difference of $-32,840 (-3.7%) versus the prior year and $46,430 versus the prior month.
For the 2023-04-01 period, Nashville had 5,756 MLS listings, a difference of 114 listings (2%) versus the prior month and 3,791 listings (193%) 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 | 39 days | 2,350 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 | 47 days | 2,440 sqft |
| 2019-09-01 | 48 days | 2,453 sqft |
| 2019-10-01 | 38 days | 2,358 sqft |
| 2019-11-01 | 41 days | 2,326 sqft |
| 2019-12-01 | 47 days | 2,320 sqft |
| 2020-01-01 | 49 days | 2,306 sqft |
| 2020-02-01 | 36 days | 2,308 sqft |
| 2020-03-01 | 34 days | 2,323 sqft |
| 2020-04-01 | 35 days | 2,304 sqft |
| 2020-05-01 | 36 days | 2,333 sqft |
| 2020-06-01 | 34 days | 2,332 sqft |
| 2020-07-01 | 32 days | 2,289 sqft |
| 2020-08-01 | 31 days | 2,237 sqft |
| 2020-09-01 | 32 days | 2,170 sqft |
| 2020-10-01 | 31 days | 2,124 sqft |
| 2020-11-01 | 32 days | 2,088 sqft |
| 2020-12-01 | 36 days | 2,056 sqft |
| 2021-01-01 | 35 days | 2,000 sqft |
| 2021-02-01 | 25 days | 1,998 sqft |
| 2021-03-01 | 18 days | 1,962 sqft |
| 2021-04-01 | 16 days | 1,959 sqft |
| 2021-05-01 | 12 days | 2,000 sqft |
| 2021-06-01 | 12 days | 1,988 sqft |
| 2021-07-01 | 15 days | 2,021 sqft |
| 2021-08-01 | 16 days | 2,029 sqft |
| 2021-09-01 | 19 days | 2,034 sqft |
| 2021-10-01 | 20 days | 2,054 sqft |
| 2021-11-01 | 22 days | 2,057 sqft |
| 2021-12-01 | 28 days | 2,055 sqft |
| 2022-01-01 | 26 days | 2,051 sqft |
| 2022-02-01 | 15 days | 2,040 sqft |
| 2022-03-01 | 11 days | 2,040 sqft |
| 2022-04-01 | 11 days | 2,106 sqft |
| 2022-05-01 | 12 days | 2,182 sqft |
| 2022-06-01 | 15 days | 2,245 sqft |
| 2022-07-01 | 21 days | 2,219 sqft |
| 2022-08-01 | 27 days | 2,213 sqft |
| 2022-09-01 | 31 days | 2,200 sqft |
| 2022-10-01 | 31 days | 2,195 sqft |
| 2022-11-01 | 38 days | 2,191 sqft |
| 2022-12-01 | 49 days | 2,196 sqft |
| 2023-01-01 | 53 days | 2,177 sqft |
| 2023-02-01 | 39 days | 2,184 sqft |
| 2023-03-01 | 36 days | 2,204 sqft |
| 2023-04-01 | 32 days | 2,251 sqft |
Nashville's median square footage for active listings during the 2023-04-01 period was 2,251 sqft. One year prior, the average listing was 2,106 sqft.