Olympia VA Loans
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 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 182 lenders originated 4,761 VA loans during 2021. The total origination value was $1,809,405,000, with an average VA loan value of $380,047.
Olympia VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Olympia
averaged
5.65%
for the week of 2022-05-20, compared to the national average (all VA variants) of
5.143% for the same period.
The average rate for the prior week (2022-05-13) was
5.26% and
one month ago for the week of 2022-04-15, the
average rate was 5.32%.
The average rate one year ago was 2.91%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.16%.
Olympia 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 Olympia level.
The top Olympia VA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with
417 VA loans originated. Their average total fees are
$11,791, which is $1,941
higher than the next largest lender,
FAIRWAY INDEPENDENT MORTGAGE CORPORATION.
The lowest fee Olympia VA lenders (with over 10 loans originated) are
PENTAGON FEDERAL CREDIT UNION ($2,189), LAKEVIEW LOAN SERVICING, LLC ($2,449), Lakeview Community Capital, LLC ($2,781), FREEDOM MORTGAGE CORPORATION ($3,312) and MUTUAL OF OMAHA MORTGAGE, INC. ($4,582).
The lowest rate Olympia VA lenders (with over 10 loans originated) are
PENTAGON FEDERAL CREDIT UNION (2.32%), PENNYMAC LOAN SERVICES, LLC (2.33%), Wells Fargo Bank (2.35%), VILLAGE CAPITAL & INVESTMENT LLC (2.36%) and NP, Inc. (2.38%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Olympia (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $352,490 (15.2%) | $397,155 (11.0%) | 1.30 | 380 |
2018-02-01 | $362,473 (11.5%) | $413,094 (12.5%) | 1.31 | 373 |
2018-03-01 | $354,900 (5.0%) | $424,515 (13.2%) | 1.23 | 374 |
2018-04-01 | $371,195 (9.3%) | $427,354 (11.1%) | 1.25 | 413 |
2018-05-01 | $386,975 (14.0%) | $436,348 (9.3%) | 1.29 | 487 |
2018-06-01 | $379,900 (12.4%) | $437,965 (9.4%) | 1.27 | 572 |
2018-07-01 | $371,475 (12.7%) | $425,270 (8.0%) | 1.24 | 625 |
2018-08-01 | $374,990 (17.2%) | $442,185 (14.4%) | 1.25 | 689 |
2018-09-01 | $375,000 (15.7%) | $444,639 (13.8%) | 1.25 | 707 |
2018-10-01 | $379,725 (13.0%) | $448,238 (12.8%) | 1.27 | 674 |
2018-11-01 | $386,475 (13.3%) | $451,822 (13.4%) | 1.30 | 602 |
2018-12-01 | $385,950 (10.3%) | $455,773 (16.3%) | 1.32 | 565 |
2019-01-01 | $387,475 (9.9%) | $460,083 (15.8%) | 1.34 | 491 |
2019-02-01 | $391,993 (8.1%) | $471,048 (14.0%) | 1.31 | 434 |
2019-03-01 | $404,736 (14.0%) | $493,073 (16.2%) | 1.32 | 431 |
2019-04-01 | $424,725 (14.4%) | $522,635 (22.3%) | 1.34 | 428 |
2019-05-01 | $407,500 (5.3%) | $505,285 (15.8%) | 1.26 | 463 |
2019-06-01 | $399,900 (5.3%) | $499,215 (14.0%) | 1.23 | 512 |
2019-07-01 | $399,500 (7.5%) | $497,681 (17.0%) | 1.24 | 529 |
2019-08-01 | $399,214 (6.5%) | $496,680 (12.3%) | 1.26 | 530 |
2019-09-01 | $399,464 (6.5%) | $496,874 (11.8%) | 1.27 | 527 |
2019-10-01 | $399,000 (5.1%) | $491,788 (9.7%) | 1.27 | 596 |
2019-11-01 | $399,000 (3.2%) | $490,584 (8.6%) | 1.29 | 527 |
2019-12-01 | $399,945 (3.6%) | $504,432 (10.7%) | 1.33 | 389 |
2020-01-01 | $418,950 (8.1%) | $530,758 (15.4%) | 1.40 | 308 |
2020-02-01 | $389,900 (-0.5%) | $497,004 (5.5%) | 1.26 | 336 |
2020-03-01 | $384,950 (-4.9%) | $492,286 (-0.2%) | 1.20 | 389 |
2020-04-01 | $399,900 (-5.8%) | $499,571 (-4.4%) | 1.25 | 408 |
2020-05-01 | $419,900 (3.0%) | $515,687 (2.1%) | 1.27 | 422 |
2020-06-01 | $412,450 (3.1%) | $516,316 (3.4%) | 1.20 | 397 |
2020-07-01 | $399,925 (0.1%) | $512,187 (2.9%) | 1.15 | 401 |
2020-08-01 | $405,000 (1.5%) | $532,337 (7.2%) | 1.16 | 394 |
2020-09-01 | $422,950 (5.9%) | $545,503 (9.8%) | 1.21 | 368 |
2020-10-01 | $419,900 (5.2%) | $550,103 (11.9%) | 1.20 | 363 |
2020-11-01 | $450,000 (12.8%) | $624,166 (27.2%) | 1.29 | 190 |
2020-12-01 | $444,000 (11.0%) | $650,242 (28.9%) | 1.30 | 171 |
2021-01-01 | $475,000 (13.4%) | $665,594 (25.4%) | 1.40 | 147 |
2021-02-01 | $459,700 (17.9%) | $651,745 (31.1%) | 1.32 | 133 |
2021-03-01 | $442,450 (14.9%) | $614,473 (24.8%) | 1.24 | 159 |
2021-04-01 | $449,450 (12.4%) | $584,685 (17.0%) | 1.21 | 173 |
2021-05-01 | $468,950 (11.7%) | $584,065 (13.3%) | 1.23 | 209 |
2021-06-01 | $482,425 (17.0%) | $586,682 (13.6%) | 1.25 | 228 |
2021-07-01 | $470,500 (17.7%) | $570,851 (11.5%) | 1.22 | 243 |
2021-08-01 | $487,000 (20.3%) | $574,082 (7.8%) | 1.28 | 290 |
2021-09-01 | $498,700 (17.9%) | $581,160 (6.5%) | 1.31 | 283 |
2021-10-01 | $490,000 (16.7%) | $577,979 (5.1%) | 1.29 | 281 |
2021-11-01 | $495,000 (10.0%) | $585,482 (-6.2%) | 1.30 | 213 |
2021-12-01 | $499,250 (12.4%) | $596,295 (-8.3%) | 1.33 | 173 |
2022-01-01 | $499,500 (5.2%) | $592,539 (-11.0%) | 1.33 | 118 |
2022-02-01 | $500,000 (8.8%) | $604,769 (-7.2%) | 1.27 | 119 |
2022-03-01 | $499,950 (13.0%) | $624,364 (1.6%) | 1.23 | 121 |
2022-04-01 | $520,000 (15.7%) | $634,244 (8.5%) | 1.22 | 164 |
Olympia's median listing price comes in at 122% of the national average.
Olympia's average listing price for 2022-04-01 was $634,244, a difference of $49,559 (8.5%) versus the prior year and $9,880 versus the prior month.
For the 2022-04-01 period, Olympia had 164 MLS listings, a difference of 43 listings (36%) versus the prior month and -9 listings (-5%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Olympia (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 65 days | 2,115 sqft |
2018-02-01 | 45 days | 2,129 sqft |
2018-03-01 | 36 days | 2,140 sqft |
2018-04-01 | 35 days | 2,173 sqft |
2018-05-01 | 30 days | 2,201 sqft |
2018-06-01 | 35 days | 2,220 sqft |
2018-07-01 | 34 days | 2,194 sqft |
2018-08-01 | 35 days | 2,209 sqft |
2018-09-01 | 42 days | 2,157 sqft |
2018-10-01 | 44 days | 2,180 sqft |
2018-11-01 | 49 days | 2,195 sqft |
2018-12-01 | 59 days | 2,191 sqft |
2019-01-01 | 66 days | 2,156 sqft |
2019-02-01 | 64 days | 2,164 sqft |
2019-03-01 | 43 days | 2,230 sqft |
2019-04-01 | 30 days | 2,295 sqft |
2019-05-01 | 33 days | 2,190 sqft |
2019-06-01 | 31 days | 2,163 sqft |
2019-07-01 | 36 days | 2,180 sqft |
2019-08-01 | 37 days | 2,098 sqft |
2019-09-01 | 40 days | 2,079 sqft |
2019-10-01 | 48 days | 2,043 sqft |
2019-11-01 | 55 days | 2,035 sqft |
2019-12-01 | 58 days | 2,049 sqft |
2020-01-01 | 64 days | 2,053 sqft |
2020-02-01 | 41 days | 1,980 sqft |
2020-03-01 | 33 days | 1,906 sqft |
2020-04-01 | 36 days | 1,977 sqft |
2020-05-01 | 42 days | 2,003 sqft |
2020-06-01 | 39 days | 2,023 sqft |
2020-07-01 | 33 days | 1,999 sqft |
2020-08-01 | 32 days | 2,020 sqft |
2020-09-01 | 33 days | 2,034 sqft |
2020-10-01 | 35 days | 1,964 sqft |
2020-11-01 | 46 days | 2,038 sqft |
2020-12-01 | 46 days | 1,963 sqft |
2021-01-01 | 51 days | 1,980 sqft |
2021-02-01 | 44 days | 1,926 sqft |
2021-03-01 | 35 days | 1,829 sqft |
2021-04-01 | 32 days | 1,847 sqft |
2021-05-01 | 29 days | 1,886 sqft |
2021-06-01 | 24 days | 1,930 sqft |
2021-07-01 | 28 days | 2,007 sqft |
2021-08-01 | 24 days | 2,045 sqft |
2021-09-01 | 31 days | 2,041 sqft |
2021-10-01 | 32 days | 1,916 sqft |
2021-11-01 | 37 days | 1,846 sqft |
2021-12-01 | 39 days | 1,906 sqft |
2022-01-01 | 41 days | 1,920 sqft |
2022-02-01 | 24 days | 1,903 sqft |
2022-03-01 | 29 days | 1,900 sqft |
2022-04-01 | 22 days | 1,942 sqft |
Olympia's median square footage for active listings during the 2022-04-01 period was 1,942 sqft. One year prior, the average listing was 1,847 sqft.