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 6.2% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

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

The average rate for the prior week (2023-05-19) was 5.93% and one month ago for the week of 2023-04-21, the average rate was 6.05%.

The average rate one year ago was 4.72%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.22%.

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 $350,623 (16.9%) $392,804 (11.9%) 1.30 376
2018-02-01 $359,974 (10.8%) $408,362 (11.7%) 1.31 370
2018-03-01 $355,000 (5.5%) $421,434 (13.4%) 1.25 366
2018-04-01 $371,250 (9.9%) $426,566 (11.2%) 1.26 409
2018-05-01 $386,500 (13.9%) $434,459 (9.5%) 1.29 482
2018-06-01 $379,950 (12.6%) $437,918 (10.3%) 1.27 572
2018-07-01 $372,493 (14.6%) $426,657 (9.3%) 1.24 623
2018-08-01 $374,990 (18.5%) $440,458 (15.4%) 1.26 694
2018-09-01 $375,000 (16.5%) $445,474 (14.8%) 1.26 715
2018-10-01 $379,925 (13.9%) $447,496 (13.3%) 1.29 687
2018-11-01 $387,475 (14.1%) $452,453 (14.9%) 1.31 609
2018-12-01 $389,000 (11.3%) $447,883 (15.2%) 1.34 571
2019-01-01 $387,448 (10.5%) $461,031 (17.4%) 1.34 494
2019-02-01 $390,858 (8.6%) $469,921 (15.1%) 1.32 446
2019-03-01 $399,950 (12.7%) $474,098 (12.5%) 1.33 451
2019-04-01 $419,995 (13.1%) $515,885 (20.9%) 1.33 442
2019-05-01 $403,236 (4.3%) $502,176 (15.6%) 1.26 487
2019-06-01 $399,900 (5.3%) $498,602 (13.9%) 1.25 532
2019-07-01 $401,925 (7.9%) $498,757 (16.9%) 1.26 553
2019-08-01 $419,000 (11.7%) $529,807 (20.3%) 1.31 526
2019-09-01 $414,950 (10.7%) $518,167 (16.3%) 1.31 530
2019-10-01 $398,970 (5.0%) $490,112 (9.5%) 1.29 611
2019-11-01 $397,000 (2.5%) $489,387 (8.2%) 1.30 555
2019-12-01 $396,625 (2.0%) $498,512 (11.3%) 1.32 404
2020-01-01 $404,475 (4.4%) $521,194 (13.1%) 1.35 325
2020-02-01 $389,425 (-0.4%) $495,222 (5.4%) 1.28 354
2020-03-01 $379,499 (-5.1%) $488,225 (3.0%) 1.19 406
2020-04-01 $397,000 (-5.5%) $496,620 (-3.7%) 1.24 427
2020-05-01 $409,900 (1.7%) $511,917 (1.9%) 1.25 441
2020-06-01 $406,225 (1.6%) $514,133 (3.1%) 1.20 421
2020-07-01 $399,800 (-0.5%) $509,681 (2.2%) 1.16 422
2020-08-01 $405,000 (-3.3%) $527,675 (-0.4%) 1.16 408
2020-09-01 $417,500 (0.6%) $541,091 (4.4%) 1.20 390
2020-10-01 $414,950 (4.0%) $542,562 (10.7%) 1.19 376
2020-11-01 $449,950 (13.3%) $622,000 (27.1%) 1.32 198
2020-12-01 $439,969 (10.9%) $645,786 (29.5%) 1.31 176
2021-01-01 $463,000 (14.5%) $652,206 (25.1%) 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 (24.7%) 1.23 170
2021-04-01 $447,463 (12.7%) $585,324 (17.9%) 1.21 187
2021-05-01 $462,500 (12.8%) $592,604 (15.8%) 1.23 228
2021-06-01 $479,495 (18.0%) $591,387 (15.0%) 1.26 240
2021-07-01 $470,000 (17.6%) $580,832 (14.0%) 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%) $624,714 (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 $537,485 (6.0%) $684,838 (10.3%) 1.30 298
2023-03-01 $535,738 (7.2%) $696,836 (11.5%) 1.26 264
2023-04-01 $554,990 (6.7%) $726,605 (14.5%) 1.29 240
Olympia's median listing price for 2023-04-01 was $554,990, a difference of $35,000 (6.7%) versus the prior year and $19,252 versus the prior month.

Olympia's median listing price comes in at 129% of the national average.

Olympia's average listing price for 2023-04-01 was $726,605, a difference of $92,125 (14.5%) versus the prior year and $29,769 versus the prior month.

For the 2023-04-01 period, Olympia had 240 MLS listings, a difference of -24 listings (-9%) versus the prior month and 59 listings (33%) 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 66 days 2,085 sqft
2018-02-01 46 days 2,115 sqft
2018-03-01 36 days 2,137 sqft
2018-04-01 33 days 2,180 sqft
2018-05-01 28 days 2,200 sqft
2018-06-01 33 days 2,218 sqft
2018-07-01 32 days 2,198 sqft
2018-08-01 35 days 2,204 sqft
2018-09-01 42 days 2,152 sqft
2018-10-01 44 days 2,170 sqft
2018-11-01 51 days 2,189 sqft
2018-12-01 64 days 2,175 sqft
2019-01-01 67 days 2,151 sqft
2019-02-01 63 days 2,163 sqft
2019-03-01 46 days 2,194 sqft
2019-04-01 31 days 2,266 sqft
2019-05-01 29 days 2,171 sqft
2019-06-01 31 days 2,160 sqft
2019-07-01 35 days 2,155 sqft
2019-08-01 45 days 2,152 sqft
2019-09-01 48 days 2,131 sqft
2019-10-01 48 days 2,026 sqft
2019-11-01 54 days 2,033 sqft
2019-12-01 56 days 2,010 sqft
2020-01-01 61 days 2,012 sqft
2020-02-01 35 days 1,972 sqft
2020-03-01 30 days 1,890 sqft
2020-04-01 36 days 1,923 sqft
2020-05-01 40 days 1,980 sqft
2020-06-01 37 days 2,017 sqft
2020-07-01 29 days 1,992 sqft
2020-08-01 30 days 2,003 sqft
2020-09-01 31 days 2,014 sqft
2020-10-01 35 days 1,948 sqft
2020-11-01 44 days 2,027 sqft
2020-12-01 44 days 1,943 sqft
2021-01-01 46 days 1,960 sqft
2021-02-01 37 days 1,894 sqft
2021-03-01 30 days 1,827 sqft
2021-04-01 32 days 1,836 sqft
2021-05-01 16 days 1,862 sqft
2021-06-01 16 days 1,937 sqft
2021-07-01 25 days 1,951 sqft
2021-08-01 19 days 2,026 sqft
2021-09-01 29 days 2,027 sqft
2021-10-01 29 days 1,908 sqft
2021-11-01 36 days 1,855 sqft
2021-12-01 38 days 1,910 sqft
2022-01-01 38 days 1,855 sqft
2022-02-01 21 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 1,978 sqft
2022-06-01 18 days 2,035 sqft
2022-07-01 26 days 2,024 sqft
2022-08-01 35 days 2,022 sqft
2022-09-01 40 days 2,028 sqft
2022-10-01 44 days 2,055 sqft
2022-11-01 49 days 2,004 sqft
2022-12-01 60 days 2,003 sqft
2023-01-01 70 days 2,062 sqft
2023-02-01 70 days 2,034 sqft
2023-03-01 49 days 2,130 sqft
2023-04-01 35 days 2,155 sqft
Olympia's median listing age (time on market) for 2023-04-01 was 35 days. This is 119% longer than the same period one year ago.

Olympia's median square footage for active listings during the 2023-04-01 period was 2,155 sqft. One year prior, the average listing was 1,950 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.