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 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
6.5%
for the week of 2022-12-02, compared to the national average (all VA variants) of
6.292% for the same period.
Olympia's average VA mortgage closing costs are $6,990.
The average rate for the prior week (2022-11-25) was
6.54% and
one month ago for the week of 2022-10-28, the
average rate was 7.02%.
The average rate one year ago was 3.6%.
For refis of the same type during the week of 2022-12-02, the average rate
was 6.11%.
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.
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 MORTGAGE (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. 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%) | 1.28 | 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 | $402,849 (13.5%) | $489,587 (16.2%) | 1.32 | 445 |
| 2019-04-01 | $419,995 (13.1%) | $514,829 (20.7%) | 1.33 | 451 |
| 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 | $399,655 (6.6%) | $496,258 (12.7%) | 1.27 | 564 |
| 2019-09-01 | $399,286 (6.5%) | $494,038 (10.9%) | 1.28 | 588 |
| 2019-10-01 | $399,000 (5.0%) | $491,271 (9.8%) | 1.29 | 603 |
| 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%) | 1.27 | 354 |
| 2020-03-01 | $379,500 (-5.8%) | $488,542 (-0.2%) | 1.19 | 405 |
| 2020-04-01 | $397,000 (-5.5%) | $496,947 (-3.5%) | 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 (2.3%) | 1.16 | 421 |
| 2020-08-01 | $405,000 (1.3%) | $527,675 (6.3%) | 1.16 | 407 |
| 2020-09-01 | $417,500 (4.6%) | $541,091 (9.5%) | 1.20 | 390 |
| 2020-10-01 | $414,950 (4.0%) | $542,562 (10.4%) | 1.19 | 376 |
| 2020-11-01 | $449,950 (13.3%) | $622,000 (27.1%) | 1.31 | 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 (24.6%) | 1.23 | 170 |
| 2021-04-01 | $447,463 (12.7%) | $580,116 (16.7%) | 1.21 | 187 |
| 2021-05-01 | $460,000 (12.2%) | $582,502 (13.7%) | 1.22 | 227 |
| 2021-06-01 | $478,873 (17.5%) | $584,264 (13.6%) | 1.26 | 239 |
| 2021-07-01 | $470,000 (17.5%) | $573,403 (12.4%) | 1.24 | 258 |
| 2021-08-01 | $485,875 (20.0%) | $574,322 (8.8%) | 1.30 | 302 |
| 2021-09-01 | $496,950 (19.0%) | $581,988 (7.6%) | 1.33 | 292 |
| 2021-10-01 | $490,000 (18.1%) | $578,699 (6.7%) | 1.31 | 295 |
| 2021-11-01 | $492,450 (9.5%) | $582,537 (-6.3%) | 1.32 | 216 |
| 2021-12-01 | $493,000 (12.1%) | $591,708 (-8.4%) | 1.34 | 178 |
| 2022-01-01 | $489,975 (5.8%) | $581,196 (-10.9%) | 1.32 | 122 |
| 2022-02-01 | $504,725 (12.3%) | $606,532 (-4.3%) | 1.31 | 128 |
| 2022-03-01 | $499,725 (15.1%) | $611,815 (0.5%) | 1.25 | 133 |
| 2022-04-01 | $519,950 (16.2%) | $625,881 (7.9%) | 1.24 | 180 |
| 2022-05-01 | $549,225 (19.4%) | $652,408 (12.0%) | 1.26 | 276 |
| 2022-06-01 | $548,700 (14.6%) | $657,849 (12.6%) | 1.22 | 391 |
| 2022-07-01 | $549,000 (16.8%) | $648,460 (13.1%) | 1.24 | 525 |
| 2022-08-01 | $548,436 (12.9%) | $643,238 (12.0%) | 1.27 | 566 |
| 2022-09-01 | $542,495 (9.2%) | $629,446 (8.2%) | 1.27 | 534 |
| 2022-10-01 | $549,975 (12.2%) | $630,326 (8.9%) | 1.29 | 515 |
| 2022-11-01 | $536,575 (9.0%) | $627,881 (7.8%) | 1.29 | 506 |
Olympia's median listing price comes in at 129% of the national average.
Olympia's average listing price for 2022-11-01 was $627,881, a difference of $45,344 (7.8%) versus the prior year and $-2,445 versus the prior month.
For the 2022-11-01 period, Olympia had 506 MLS listings, a difference of -9 listings (-2%) versus the prior month and 290 listings (134%) 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 | 2,113 sqft |
| 2018-03-01 | 36 days | 2,136 sqft |
| 2018-04-01 | 33 days | 2,173 sqft |
| 2018-05-01 | 28 days | 2,200 sqft |
| 2018-06-01 | 33 days | 2,215 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 | 2,167 sqft |
| 2018-11-01 | 51 days | 2,188 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 | 2,208 sqft |
| 2019-04-01 | 32 days | 2,258 sqft |
| 2019-05-01 | 29 days | 2,170 sqft |
| 2019-06-01 | 31 days | 2,160 sqft |
| 2019-07-01 | 35 days | 2,155 sqft |
| 2019-08-01 | 39 days | 2,096 sqft |
| 2019-09-01 | 44 days | 2,085 sqft |
| 2019-10-01 | 48 days | 2,056 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 | 1,886 sqft |
| 2020-04-01 | 36 days | 1,926 sqft |
| 2020-05-01 | 40 days | 1,983 sqft |
| 2020-06-01 | 36 days | 2,021 sqft |
| 2020-07-01 | 29 days | 1,997 sqft |
| 2020-08-01 | 30 days | 2,008 sqft |
| 2020-09-01 | 31 days | 2,014 sqft |
| 2020-10-01 | 35 days | 1,942 sqft |
| 2020-11-01 | 44 days | 2,027 sqft |
| 2020-12-01 | 44 days | 1,943 sqft |
| 2021-01-01 | 46 days | 1,970 sqft |
| 2021-02-01 | 37 days | 1,900 sqft |
| 2021-03-01 | 30 days | 1,830 sqft |
| 2021-04-01 | 32 days | 1,836 sqft |
| 2021-05-01 | 16 days | 1,861 sqft |
| 2021-06-01 | 16 days | 1,927 sqft |
| 2021-07-01 | 24 days | 1,951 sqft |
| 2021-08-01 | 19 days | 2,023 sqft |
| 2021-09-01 | 29 days | 2,025 sqft |
| 2021-10-01 | 29 days | 1,905 sqft |
| 2021-11-01 | 36 days | 1,854 sqft |
| 2021-12-01 | 38 days | 1,905 sqft |
| 2022-01-01 | 38 days | 1,850 sqft |
| 2022-02-01 | 20 days | 1,905 sqft |
| 2022-03-01 | 26 days | 1,885 sqft |
| 2022-04-01 | 16 days | 1,946 sqft |
| 2022-05-01 | 16 days | 1,973 sqft |
| 2022-06-01 | 17 days | 2,031 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 |
Olympia's median square footage for active listings during the 2022-11-01 period was 2,004 sqft. One year prior, the average listing was 1,854 sqft.
