Olympia VA Loan Rates, Closing Costs & Stats

OLYMPIA-LACEY-TUMWATER, WA

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.

Olympia's 141 lenders originated 1,992 VA loans during 2022. The total origination value was $912,300,000, with an average VA loan value of $457,982.

Olympia VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Olympia averaged 6.21% for the week of 2024-03-01, compared to the national average (all VA variants) of 6.517% for the same period.

Olympia's average VA mortgage closing costs are $7,665.

The average rate for the prior week (2024-02-23) was 6.24% and one month ago for the week of 2024-01-26, the average rate was 6.17%.

The average rate one year ago was 6.31%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.13%.

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

Olympia 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 Olympia level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
CROSSCOUNTRY MORTGAGE, LLC 201 4.94% $15,540
Mortgage Research Center, LLC 183 4.79% $12,022
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 166 4.70% $12,969
UNITED WHOLESALE MORTGAGE, LLC 142 4.25% $11,318
ACADEMY MORTGAGE CORPORATION 83 4.62% $13,961
QUICKEN LOANS, LLC 81 4.00% $13,471
CALIBER HOME LOANS, INC. 77 4.72% $12,237
FREEDOM MORTGAGE CORPORATION 76 4.11% $12,484
PENNYMAC LOAN SERVICES, LLC 69 3.29% $10,507
NAVY FEDERAL CREDIT UNION 54 3.80% $9,347
INSPIRE HOME LOANS INC. 49 4.60% $20,011
The Federal Savings Bank 40 4.49% $17,148
MOVEMENT MORTGAGE, LLC 34 4.23% $13,867
LOANDEPOT.COM, LLC 34 3.37% $12,154
GUILD MORTGAGE COMPANY 30 4.30% $16,063
USAA Federal Savings Bank 29 4.49% $10,113
BAY EQUITY LLC 25 4.79% $14,506
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 21 4.51% $14,080
Flagstar Bank, FSB 21 4.30% $9,788
Paramount Residential Mortgage Group, Inc. 20 4.71% $10,916
Mr. Cooper ( Nationstar Mortgage ) 20 3.87% $9,997
NEW DAY FINANCIAL, LLC 20 4.66% $13,509
PREMIER MORTGAGE RESOURCES, L.L.C. 17 4.74% $20,818
HOME POINT FINANCIAL CORPORATION 16 3.96% $9,828
LAKEVIEW LOAN SERVICING, LLC 14 3.55% $7,061
MORTGAGE SOLUTIONS OF COLORADO, LLC 14 5.15% $13,356
AMERICAN PACIFIC MORTGAGE CORPORATION 14 4.75% $16,642
HOMEBRIDGE FINANCIAL SERVICES, INC. 12 4.39% $14,084
Wells Fargo Bank 11 4.00% $3,360
PRIMARY RESIDENTIAL MORTGAGE, INC. 10 5.03% $18,389
PENTAGON FEDERAL CREDIT UNION 10 3.51% $11,419
GUARANTY HOME MORTGAGE CORPORATION 10 4.69% $15,631
AXIA FINANCIAL, LLC 10 4.69% $13,572
Armed Forces Bank 10 4.26% $10,239
HomeStreet Bank 9 4.18% $17,013
PLANET HOME LENDING, LLC 9 4.29% $12,625
HOMEAMERICAN MORTGAGE CORPORATION 9 3.47% $5,942
NFM, INC. 8 4.50% $11,943
AMERISAVE MORTGAGE CORPORATION 8 4.72% $8,769
CMG MORTGAGE, INC. 8 4.70% $17,595
First Home Bank 8 4.59% $16,533
GUARANTEED RATE, INC. 8 5.01% $7,141
CARDINAL FINANCIAL 7 4.27% $13,700
Austin Capital Bank SSB 7 5.28% $13,087
Carrington Mortgage Services, LLC 6 4.71% $14,452
Hometown Lenders, Inc. 6 4.37% $17,081
1st Security Bank of Washington 6 5.19% $19,116
Mid-Continent Funding, Inc. 5 4.40% $17,827
SUN WEST MORTGAGE COMPANY, INC. 5 4.40% $6,410
PRIMELENDING, A PLAINSCAPITAL COMPANY 5 4.60% $9,712
AMERICAN FINANCIAL RESOURCES, INC. 5 5.18% $8,697
NEWREZ LLC 5 5.68% $8,904
CORNERSTONE HOME LENDING, INC. 5 4.90% $17,979
Credence Funding Corporation 4 2.59% $5,210
NBKC BANK 4 4.81% $11,386
BROKER SOLUTIONS, INC. 4 4.91% $14,590
BNC National Bank 4 3.31% $8,000
VILLAGE CAPITAL MORTGAGE 4 5.22% $12,972
Goldwater Bank, N.A. 4 3.88% $17,886
Magnolia Bank 4 5.50% $17,718
Bank of the Pacific 4 4.19% $20,533
VERITAS FUNDING, LLC 4 4.53% $27,796
The Central Trust Bank 3 3.33% $10,658
AMCAP MORTGAGE, LTD. 3 4.92% $8,583
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 5.71% $15,257
Barrington Bank & Trust Company, N.A. 3 4.92% $11,297
FINANCE OF AMERICA MORTGAGE LLC 3 4.33% $14,243
LOANPAL, LLC 3 4.00% $16,351
MUTUAL OF OMAHA MORTGAGE, INC. 3 4.42% $7,617
Umpqua Bank 3 3.33% $7,776
UNION HOME MORTGAGE CORP. 3 4.75% $12,447
HOMESIDE FINANCIAL, LLC 2 3.75% $13,138
Ixonia Bank 2 6.31% $23,461
NATIONS DIRECT MORTGAGE, LLC 2 3.37% $18,898
Nations Lending Corporation 2 4.50% $15,056
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 3.75% $18,577
SAMMAMISH MORTGAGE COMPANY 2 4.44% $14,809
PENRITH HOME LOANS LLC 2 5.38% $20,457
MLD MORTGAGE INC. 2 5.06% $19,501
SOVEREIGN LENDING GROUP INCORPORATED 2 4.25% $14,173
JPMorgan Chase Bank 2 4.81% $11,131
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 4.38% $8,875
NETWORK CAPITAL FUNDING CORPORATION 2 5.06% $18,225
First Federal Bank 2 5.81% $10,218
LEADERONE FINANCIAL CORPORATION 2 4.75% $14,104
Sunflower Bank 2 4.18% $12,909
Columbia State Bank 2 3.88% $14,889
First Mortgage Solutions, LLC 2 4.12% $9,257
Lakeview Community Capital, LLC 2 3.69% $6,174
ENVOY MORTGAGE, LTD 1 5.50% $959
EAGLE HOME MORTGAGE, LLC 1 4.38% $20,551
DIRECTORS MORTGAGE, INC. 1 6.25% $20,553
PHH Mortgage Corporation 1 5.00% $20,976
Plains Commerce Bank 1 2.75% $19,401
CONTOUR MORTGAGE CORPORATION 1 3.25% $16,486
Colonial Savings, F.A. 1 3.13% $7,609
CLEARPATH LENDING 1 4.13% $21,615
CITYWIDE HOME LOANS, LLC 1 3.99% $23,868
RELIANCE FIRST CAPITAL, LLC 1 2.75% $8,155
RESIDENTIAL BANCORP 1 6.25% $14,178
S1L, Inc. 1 4.63% $14,683
SeaTrust Mortgage Company 1 6.75% $14,222
South Pacific Financial Corporation 1 4.13% $11,760
Strong Home Mortgage, LLC 1 3.00% $8,671
SUMMIT FUNDING, INC. 1 3.25% $8,174
SUMMIT MORTGAGE CORPORATION 1 3.63% $4,862
CHURCHILL MORTGAGE CORPORATION 1 4.75% $4,370
T2 FINANCIAL LLC 1 5.13% $15,622
Chambers Bank 1 3.63% $13,013
Century Mortgage Company DBA Century Lending Company 1 3.75% $10,535
THRIVE MORTGAGE, LLC 1 5.13% $29,080
TJC Mortgage, Inc. 1 3.25% $7,353
TRISTAR FINANCE, INC. 1 3.00% $7,838
Wyndham Capital Mortgage, Inc. 1 3.00% $8,496
ZILLOW HOME LOANS, LLC 1 3.25% $22,433
Boeing Employees Credit Union 1 5.13% $4,415
Amerifirst Financial, Inc. 1 5.75% $0
Victorian Finance, LLC 1 3.00% $22,094
Alaska USA Mortgage Company LLC 1 4.63% $5,266
V.I.P. MORTGAGE, INC. 1 4.50% $20,755
KBHS HOME LOANS, LLC 1 3.38% $21,724
KeyBank 1 2.63% $2,418
LADERA LENDING, INC. 1 4.75% $9,018
U.S. Bank 1 4.75% $6,070
Wallick & Volk, Inc. 1 5.50% $20,868
MANN FINANCIAL INC. 1 3.50% $4,432
ML Mortgage Corp. 1 3.75% $18,034
MORTGAGE LENDING GROUP LLC 1 5.00% $5,713
MORTGAGE MASTER SERVICE CORPORATION 1 3.25% $9,635
Gateway First Bank 1 3.63% $18,504
First Western Trust Bank 1 5.25% $13,869
First United Bank and Trust Company 1 4.88% $3,529
M&T Bank 1 3.00% $4,034
Alaska USA Federal Credit Union 1 5.63% $11,268
First Internet Bank of Indiana 1 4.63% $2,211
First Federal Bank of Kansas City 1 2.75% $3,516
Evolve Bank & Trust 1 7.25% $13,088
NexBank 1 5.00% $5,799
EVERETT FINANCIAL, INC. 1 2.75% $11,898
North American Savings Bank, F.S.B. 1 5.00% $13,784
ON Q FINANCIAL, INC. 1 2.88% $17,050

The top Olympia VA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 201 VA loans originated. Their average total fees are $15,540, which is $3,519 higher than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Olympia VA lenders (with over 10 loans originated) are Wells Fargo Bank ($3,360), LAKEVIEW LOAN SERVICING, LLC ($7,061), NAVY FEDERAL CREDIT UNION ($9,347), Flagstar Bank, FSB ($9,788) and HOME POINT FINANCIAL CORPORATION ($9,828).

The lowest rate Olympia VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.29%), LOANDEPOT.COM, LLC (3.37%), PENTAGON FEDERAL CREDIT UNION (3.51%), LAKEVIEW LOAN SERVICING, LLC (3.55%) and NAVY FEDERAL CREDIT UNION (3.80%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Olympia (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 $351,868 (17.3%) $392,814 (11.9%) 1.30 377
2018-02-01 $362,221 (11.5%) $408,388 (11.7%) 1.32 372
2018-03-01 $357,425 (5.9%) $421,339 (13.4%) 1.25 368
2018-04-01 $371,738 (9.7%) $426,456 (11.2%) 1.26 411
2018-05-01 $386,975 (13.8%) $434,337 (9.4%) 1.29 484
2018-06-01 $379,950 (12.4%) $436,651 (10.0%) 1.27 572
2018-07-01 $372,495 (14.6%) $426,636 (9.3%) 1.24 624
2018-08-01 $374,990 (17.8%) $440,441 (15.4%) 1.26 694
2018-09-01 $375,000 (16.1%) $445,474 (14.8%) 1.26 715
2018-10-01 $379,925 (13.3%) $447,496 (13.4%) 1.29 687
2018-11-01 $387,475 (14.1%) $452,453 (14.9%) 1.31 609
2018-12-01 $389,000 (11.2%) $447,883 (15.2%) 1.34 571
2019-01-01 $387,448 (10.1%) $461,031 (17.4%) 1.34 494
2019-02-01 $390,858 (7.9%) $469,921 (15.1%) 1.32 446
2019-03-01 $402,849 (12.7%) $489,587 (16.2%) 1.32 445
2019-04-01 $419,995 (13.0%) $514,402 (20.6%) 1.33 451
2019-05-01 $403,236 (4.2%) $502,176 (15.6%) 1.26 487
2019-06-01 $399,900 (5.3%) $498,602 (14.2%) 1.25 532
2019-07-01 $401,925 (7.9%) $499,197 (17.0%) 1.26 552
2019-08-01 $399,655 (6.6%) $496,704 (12.8%) 1.27 563
2019-09-01 $399,286 (6.5%) $494,496 (11.0%) 1.28 587
2019-10-01 $399,000 (5.0%) $491,741 (9.9%) 1.29 602
2019-11-01 $399,000 (3.0%) $489,910 (8.3%) 1.31 554
2019-12-01 $397,000 (2.1%) $499,188 (11.5%) 1.32 403
2020-01-01 $404,688 (4.5%) $521,664 (13.2%) 1.35 324
2020-02-01 $389,425 (-0.4%) $495,222 (5.4%) 1.27 354
2020-03-01 $379,500 (-5.8%) $488,542 (-0.2%) 1.19 405
2020-04-01 $397,000 (-5.5%) $496,947 (-3.4%) 1.24 426
2020-05-01 $409,900 (1.7%) $512,276 (2.0%) 1.25 440
2020-06-01 $407,500 (1.9%) $514,485 (3.2%) 1.20 420
2020-07-01 $399,900 (-0.5%) $510,022 (2.2%) 1.16 421
2020-08-01 $405,000 (1.3%) $527,675 (6.2%) 1.16 407
2020-09-01 $417,500 (4.6%) $541,091 (9.4%) 1.20 390
2020-10-01 $414,950 (4.0%) $542,562 (10.3%) 1.19 376
2020-11-01 $449,950 (12.8%) $622,000 (27.0%) 1.32 198
2020-12-01 $439,969 (10.8%) $645,786 (29.4%) 1.31 176
2021-01-01 $463,000 (14.4%) $652,206 (25.0%) 1.38 159
2021-02-01 $449,500 (15.4%) $634,027 (28.0%) 1.31 143
2021-03-01 $434,350 (14.5%) $608,676 (24.6%) 1.23 170
2021-04-01 $447,463 (12.7%) $585,324 (17.8%) 1.21 187
2021-05-01 $462,500 (12.8%) $592,604 (15.7%) 1.23 228
2021-06-01 $479,495 (17.7%) $591,387 (15.0%) 1.26 240
2021-07-01 $470,000 (17.5%) $580,832 (13.9%) 1.24 259
2021-08-01 $487,250 (20.3%) $580,804 (10.1%) 1.30 303
2021-09-01 $497,000 (19.0%) $588,718 (8.8%) 1.33 293
2021-10-01 $490,000 (18.1%) $585,659 (7.9%) 1.31 296
2021-11-01 $492,450 (9.5%) $591,108 (-5.0%) 1.32 217
2021-12-01 $493,500 (12.2%) $601,189 (-6.9%) 1.34 179
2022-01-01 $489,999 (5.8%) $595,582 (-8.7%) 1.32 123
2022-02-01 $506,988 (12.8%) $621,090 (-2.0%) 1.32 129
2022-03-01 $499,950 (15.1%) $624,510 (2.6%) 1.25 134
2022-04-01 $519,990 (16.2%) $634,480 (8.4%) 1.24 181
2022-05-01 $549,575 (18.8%) $660,430 (11.5%) 1.26 277
2022-06-01 $548,700 (14.4%) $664,153 (12.3%) 1.22 392
2022-07-01 $549,000 (16.8%) $648,460 (11.6%) 1.24 525
2022-08-01 $548,425 (12.6%) $643,111 (10.7%) 1.27 566
2022-09-01 $542,495 (9.2%) $629,446 (6.9%) 1.27 534
2022-10-01 $549,975 (12.2%) $630,326 (7.6%) 1.29 515
2022-11-01 $536,575 (9.0%) $627,881 (6.2%) 1.29 506
2022-12-01 $545,000 (10.4%) $627,715 (4.4%) 1.35 460
2023-01-01 $548,500 (11.9%) $682,794 (14.6%) 1.36 378
2023-02-01 $537,469 (6.0%) $684,504 (10.2%) 1.30 297
2023-03-01 $533,500 (6.7%) $696,507 (11.5%) 1.26 263
2023-04-01 $552,495 (6.3%) $726,345 (14.5%) 1.28 239
2023-05-01 $569,900 (3.7%) $728,612 (10.3%) 1.29 283
2023-06-01 $552,238 (0.6%) $695,273 (4.7%) 1.24 326
2023-07-01 $579,450 (5.6%) $716,295 (10.5%) 1.32 360
2023-08-01 $577,583 (5.3%) $722,106 (12.3%) 1.33 401
2023-09-01 $576,550 (6.3%) $721,506 (14.6%) 1.34 406
2023-10-01 $582,200 (5.9%) $733,089 (16.3%) 1.37 408
2023-11-01 $575,000 (7.2%) $746,524 (18.9%) 1.37 473
2023-12-01 $568,000 (4.2%) $754,473 (20.2%) 1.39 391
2024-01-01 $558,199 (1.8%) $743,630 (8.9%) 1.36 344
Olympia's median listing price for 2024-01-01 was $558,199, a difference of $9,699 (1.8%) versus the prior year and $-9,801 versus the prior month.

Olympia's median listing price comes in at 136% of the national average.

Olympia's average listing price for 2024-01-01 was $743,630, a difference of $60,836 (8.9%) versus the prior year and $-10,843 versus the prior month.

For the 2024-01-01 period, Olympia had 344 MLS listings, a difference of -47 listings (-12%) versus the prior month and -34 listings (-9%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Olympia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 61 days 2,095 sqft
2018-02-01 38 days 2,132 sqft
2018-03-01 33 days 2,140 sqft
2018-04-01 30 days 2,187 sqft
2018-05-01 26 days 2,200 sqft
2018-06-01 32 days 2,221 sqft
2018-07-01 31 days 2,199 sqft
2018-08-01 34 days 2,204 sqft
2018-09-01 39 days 2,152 sqft
2018-10-01 43 days 2,170 sqft
2018-11-01 50 days 2,189 sqft
2018-12-01 61 days 2,175 sqft
2019-01-01 65 days 2,151 sqft
2019-02-01 62 days 2,163 sqft
2019-03-01 41 days 2,209 sqft
2019-04-01 30 days 2,259 sqft
2019-05-01 27 days 2,171 sqft
2019-06-01 31 days 2,160 sqft
2019-07-01 34 days 2,155 sqft
2019-08-01 38 days 2,097 sqft
2019-09-01 42 days 2,085 sqft
2019-10-01 45 days 2,057 sqft
2019-11-01 51 days 2,034 sqft
2019-12-01 51 days 2,015 sqft
2020-01-01 51 days 2,013 sqft
2020-02-01 30 days 1,972 sqft
2020-03-01 27 days 1,886 sqft
2020-04-01 32 days 1,926 sqft
2020-05-01 36 days 1,983 sqft
2020-06-01 32 days 2,021 sqft
2020-07-01 24 days 1,997 sqft
2020-08-01 25 days 2,008 sqft
2020-09-01 28 days 2,014 sqft
2020-10-01 31 days 1,942 sqft
2020-11-01 39 days 2,027 sqft
2020-12-01 39 days 1,944 sqft
2021-01-01 37 days 1,970 sqft
2021-02-01 29 days 1,900 sqft
2021-03-01 23 days 1,830 sqft
2021-04-01 25 days 1,836 sqft
2021-05-01 12 days 1,862 sqft
2021-06-01 15 days 1,937 sqft
2021-07-01 25 days 1,960 sqft
2021-08-01 19 days 2,026 sqft
2021-09-01 29 days 2,033 sqft
2021-10-01 29 days 1,908 sqft
2021-11-01 36 days 1,855 sqft
2021-12-01 38 days 1,914 sqft
2022-01-01 38 days 1,855 sqft
2022-02-01 19 days 1,907 sqft
2022-03-01 26 days 1,888 sqft
2022-04-01 16 days 1,950 sqft
2022-05-01 16 days 1,976 sqft
2022-06-01 17 days 2,028 sqft
2022-07-01 26 days 2,020 sqft
2022-08-01 35 days 2,020 sqft
2022-09-01 39 days 2,026 sqft
2022-10-01 44 days 2,051 sqft
2022-11-01 49 days 2,002 sqft
2022-12-01 60 days 2,000 sqft
2023-01-01 69 days 2,048 sqft
2023-02-01 70 days 2,025 sqft
2023-03-01 49 days 2,118 sqft
2023-04-01 33 days 2,154 sqft
2023-05-01 30 days 2,127 sqft
2023-06-01 30 days 2,080 sqft
2023-07-01 34 days 2,113 sqft
2023-08-01 35 days 2,142 sqft
2023-09-01 41 days 2,168 sqft
2023-10-01 45 days 2,199 sqft
2023-11-01 51 days 2,189 sqft
2023-12-01 58 days 2,120 sqft
2024-01-01 70 days 2,040 sqft
Olympia's median listing age (time on market) for 2024-01-01 was 70 days. This is 2% longer than the same period one year ago.

Olympia's median square footage for active listings during the 2024-01-01 period was 2,040 sqft. One year prior, the average listing was 2,048 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.