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 112 lenders originated 1,213 VA loans during 2023. The total origination value was $576,625,000, with an average VA loan value of $475,371.

Olympia VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Olympia averaged 6.32% for the week of 2024-07-12, compared to the national average (all VA variants) of 6.364% for the same period.

Olympia's average VA mortgage closing costs are $8,028.

The average rate for the prior week (2024-07-05) was 6.43% and one month ago for the week of 2024-06-07, the average rate was 6.35%.

The average rate one year ago was 6.82%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.64%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 154 6.14% $11,735
Mortgage Research Center, LLC 110 6.39% $11,517
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 72 6.44% $10,437
ACADEMY MORTGAGE CORPORATION 69 6.49% $13,670
CROSSCOUNTRY MORTGAGE, LLC 64 6.59% $11,879
INSPIRE HOME LOANS INC. 57 5.38% $14,767
QUICKEN LOANS, LLC 54 6.02% $13,629
NAVY FEDERAL CREDIT UNION 41 5.91% $7,718
MOVEMENT MORTGAGE, LLC 35 6.40% $17,463
FREEDOM MORTGAGE CORPORATION 29 6.50% $18,453
NEWREZ LLC 23 6.18% $12,500
GUARANTEED RATE, INC. 21 6.15% $11,346
CALIBER HOME LOANS, INC. 21 5.90% $17,842
PREMIER MORTGAGE RESOURCES, L.L.C. 19 6.41% $22,649
SeaTrust Mortgage Company 19 6.26% $17,976
PENNYMAC LOAN SERVICES, LLC 19 5.52% $10,624
The Federal Savings Bank 18 6.20% $20,523
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 17 6.72% $13,233
T2 FINANCIAL LLC 17 6.79% $8,388
BAY EQUITY LLC 16 6.20% $11,298
USAA Federal Savings Bank 15 6.39% $11,729
LOANDEPOT.COM, LLC 14 6.02% $16,666
EAGLE HOME MORTGAGE, LLC 13 6.04% $9,571
GUILD MORTGAGE COMPANY 12 6.34% $19,409
CMG MORTGAGE, INC. 12 6.32% $16,563
MORTGAGE SOLUTIONS OF COLORADO, LLC 12 6.92% $10,927
Ixonia Bank 12 6.77% $19,639
Paramount Residential Mortgage Group, Inc. 10 6.48% $14,630
NEW DAY FINANCIAL, LLC 9 7.14% $15,344
NFM, INC. 9 6.15% $17,267
PLANET HOME LENDING, LLC 9 5.74% $14,970
MUTUAL OF OMAHA MORTGAGE, INC. 8 5.95% $10,619
NBKC BANK 6 5.52% $11,060
BROKER SOLUTIONS, INC. 5 6.30% $20,766
Mr. Cooper ( Nationstar Mortgage ) 5 5.93% $14,701
AMERICAN PACIFIC MORTGAGE CORPORATION 5 6.38% $15,118
MANN FINANCIAL INC. 5 6.08% $13,638
MLD MORTGAGE INC. 5 6.55% $19,755
ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.50% $12,439
VILLAGE CAPITAL MORTGAGE 5 5.78% $13,015
PENTAGON FEDERAL CREDIT UNION 4 5.06% $13,700
AMERICAN FINANCIAL NETWORK, INC. 4 6.06% $10,498
SUN WEST MORTGAGE COMPANY, INC. 4 6.62% $9,018
Wells Fargo Bank 4 5.63% $14,996
GUARANTEED RATE AFFINITY, LLC 4 6.34% $12,604
BNC National Bank 4 5.41% $15,536
LAKEVIEW LOAN SERVICING, LLC 4 5.63% $20,736
NATIONS DIRECT MORTGAGE, LLC 4 6.78% $9,028
SAMMAMISH MORTGAGE COMPANY 3 5.83% $22,024
FIRST CONTINENTAL MORTGAGE, LTD. 3 6.25% $4,342
1st Security Bank of Washington 3 6.96% $16,705
Equity Prime Mortgage LLC 3 6.29% $13,166
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.25% $8,342
DHI MORTGAGE COMPANY, LTD. 3 5.87% $10,468
MASON MCDUFFIE MORTGAGE CORPORATION 3 6.21% $15,274
Century Mortgage Company DBA Century Lending Company 3 6.25% $13,603
GENEVA FINANCIAL, LLC 3 6.50% $20,638
Flagstar Bank, FSB 3 6.00% $16,151
CORNERSTONE HOME LENDING, INC. 2 6.00% $24,426
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.94% $10,802
AMERISAVE MORTGAGE CORPORATION 2 5.50% $15,458
PENRITH HOME LOANS LLC 2 6.00% $9,714
CHURCHILL MORTGAGE CORPORATION 2 5.75% $17,849
Barrington Bank & Trust Company, N.A. 2 6.75% $11,409
America's Credit Union 2 6.69% $7,336
NOVA FINANCIAL & INVESTMENT CORPORATION 2 7.00% $8,735
Armed Forces Bank 2 5.75% $10,657
CALCON MUTUAL MORTGAGE LLC 2 6.81% $3,219
Umpqua Bank 2 5.88% $12,830
CARDINAL FINANCIAL 2 6.50% $16,317
NexBank 2 6.63% $9,304
LEADERONE FINANCIAL CORPORATION 2 7.06% $19,463
The Central Trust Bank 2 5.50% $13,437
LOANPAL, LLC 2 5.63% $30,423
Zions Bank 1 5.63% $8,773
Alaska USA Federal Credit Union 1 6.25% $13,595
AMCAP MORTGAGE, LTD. 1 6.25% $6,139
American Mortgage & Equity Consultants, Inc. 1 6.75% $26,287
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.00% $12,391
AmeriHome Mortgage Company, LLC 1 6.63% $12,185
Ameris Bank 1 5.75% $5,483
AXIA FINANCIAL, LLC 1 6.63% $15,633
Banner Bank 1 6.63% $18,985
Boeing Employees Credit Union 1 6.88% $3,863
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.25% $8,243
Community First National Bank 1 5.75% $11,377
ENVOY MORTGAGE, LTD 1 6.88% $8,252
First Western Trust Bank 1 6.63% $11,979
Franklin Loan Corporation 1 6.63% $13,763
Gateway First Bank 1 6.25% $11,319
GoPrime Mortgage, Inc. 1 5.88% $9,943
GUARANTY HOME MORTGAGE CORPORATION 1 5.88% $4,587
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 4.63% $4,351
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.75% $9,131
HOMESIDE FINANCIAL, LLC 1 7.25% $30,971
HomeStreet Bank 1 5.63% $14,196
INFINITY EQUITY GROUP, INC. 1 5.75% $16,168
JPMorgan Chase Bank 1 5.99% $9,245
NETWORK CAPITAL FUNDING CORPORATION 1 5.75% $12,279
ON Q FINANCIAL, INC. 1 6.99% $12,468
Plains Commerce Bank 1 5.75% $14,430
PREMIA MORTGAGE, LLC 1 6.75% $17,894
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.13% $16,491
ROYAL UNITED MORTGAGE LLC 1 6.13% $17,971
SOUTHWEST STAGE FUNDING, LLC 1 7.25% $14,889
SOVEREIGN LENDING GROUP INCORPORATED 1 6.25% $11,602
SUCCESS MORTGAGE PARTNERS, INC. 1 7.50% $22,303
SUMMIT FUNDING, INC. 1 7.63% $1,185
TJC Mortgage, Inc. 1 5.75% $9,864
UNION HOME MORTGAGE CORP. 1 7.25% $25,338
VERITAS FUNDING, LLC 1 6.00% $31,893
WASHINGTON STATE EMPLOYEES Credit Union 1 6.25% $2,458

The top Olympia VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 154 VA loans originated. Their average total fees are $11,735, which is $218 higher than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Olympia VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($7,718), T2 FINANCIAL LLC ($8,388), EAGLE HOME MORTGAGE, LLC ($9,571), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($10,437) and PENNYMAC LOAN SERVICES, LLC ($10,624).

The lowest rate Olympia VA lenders (with over 10 loans originated) are INSPIRE HOME LOANS INC. (5.38%), PENNYMAC LOAN SERVICES, LLC (5.52%), CALIBER HOME LOANS, INC. (5.90%), NAVY FEDERAL CREDIT UNION (5.91%) and QUICKEN LOANS, LLC (6.02%).


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
2024-02-01 $569,998 (6.1%) $747,227 (9.2%) 1.37 336
2024-03-01 $556,200 (4.3%) $731,502 (5.0%) 1.31 356
2024-04-01 $559,495 (1.3%) $690,645 (-4.9%) 1.30 388
2024-05-01 $585,612 (2.8%) $716,277 (-1.7%) 1.32 489
2024-06-01 $599,950 (8.6%) $751,089 (8.0%) 1.35 498
Olympia's median listing price for 2024-06-01 was $599,950, a difference of $47,712 (8.6%) versus the prior year and $14,338 versus the prior month.

Olympia's median listing price comes in at 135% of the national average.

Olympia's average listing price for 2024-06-01 was $751,089, a difference of $55,816 (8.0%) versus the prior year and $34,812 versus the prior month.

For the 2024-06-01 period, Olympia had 498 MLS listings, a difference of 9 listings (2%) versus the prior month and 172 listings (53%) 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
2024-02-01 40 days 1,980 sqft
2024-03-01 39 days 1,948 sqft
2024-04-01 35 days 1,998 sqft
2024-05-01 24 days 2,053 sqft
2024-06-01 30 days 2,124 sqft
Olympia's median listing age (time on market) for 2024-06-01 was 30 days. This is 0% longer than the same period one year ago.

Olympia's median square footage for active listings during the 2024-06-01 period was 2,124 sqft. One year prior, the average listing was 2,080 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.