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%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
CROSSCOUNTRY MORTGAGE, LLC 417 2.90% $11,791
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 318 2.92% $9,850
Mortgage Research Center, LLC 310 2.81% $9,943
FREEDOM MORTGAGE CORPORATION 259 2.40% $3,312
QUICKEN LOANS, LLC 255 2.43% $5,228
CALIBER HOME LOANS, INC. 203 2.53% $7,123
ACADEMY MORTGAGE CORPORATION 195 2.71% $10,036
PENNYMAC LOAN SERVICES, LLC 193 2.33% $6,438
UNITED WHOLESALE MORTGAGE, LLC 178 2.45% $8,439
LAKEVIEW LOAN SERVICING, LLC 125 2.40% $2,449
GUILD MORTGAGE COMPANY 114 2.59% $7,283
NAVY FEDERAL CREDIT UNION 91 2.46% $6,633
LOANDEPOT.COM, LLC 81 2.41% $5,416
The Federal Savings Bank 68 2.47% $9,814
MOVEMENT MORTGAGE, LLC 68 3.00% $8,621
USAA Federal Savings Bank 67 2.88% $5,192
Mr. Cooper ( Nationstar Mortgage ) 66 2.61% $5,009
Paramount Residential Mortgage Group, Inc. 53 2.91% $9,115
HOME POINT FINANCIAL CORPORATION 52 2.47% $5,257
INSPIRE HOME LOANS INC. 52 2.86% $13,585
Wells Fargo Bank 49 2.35% $5,460
Flagstar Bank, FSB 44 2.70% $7,683
NEW DAY FINANCIAL, LLC 39 2.73% $8,824
KBHS HOME LOANS, LLC 35 2.66% $12,004
AMERICAN PACIFIC MORTGAGE CORPORATION 32 2.94% $9,642
BAY EQUITY LLC 31 2.89% $12,586
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 29 3.19% $12,293
NEWREZ LLC 27 2.60% $5,534
AXIA FINANCIAL, LLC 26 2.92% $9,181
Carrington Mortgage Services, LLC 25 2.96% $6,699
AMERICAN FINANCIAL NETWORK, INC. 25 2.53% $9,935
Lakeview Community Capital, LLC 23 2.42% $2,781
VILLAGE CAPITAL MORTGAGE 22 2.36% $4,610
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 22 2.99% $8,415
FINANCE OF AMERICA MORTGAGE LLC 22 2.81% $11,823
NP, Inc. 21 2.38% $4,821
PLANET HOME LENDING, LLC 20 2.60% $7,085
HOMEBRIDGE FINANCIAL SERVICES, INC. 20 2.60% $7,231
PENTAGON FEDERAL CREDIT UNION 20 2.32% $2,189
HomeStreet Bank 17 2.75% $8,105
1st Security Bank of Washington 17 2.92% $9,883
AMERISAVE MORTGAGE CORPORATION 17 2.43% $8,161
PREMIER MORTGAGE RESOURCES, L.L.C. 16 2.95% $12,013
BROKER SOLUTIONS, INC. 16 2.56% $7,209
NBKC BANK 15 2.40% $8,145
GUARANTEED RATE, INC. 14 2.52% $7,273
PRIMARY RESIDENTIAL MORTGAGE, INC. 14 3.15% $9,864
SUN WEST MORTGAGE COMPANY, INC. 13 2.41% $6,112
LENDUS, LLC 12 2.45% $5,354
MUTUAL OF OMAHA MORTGAGE, INC. 12 2.58% $4,582
CMG MORTGAGE, INC. 12 2.92% $8,096
AMCAP MORTGAGE, LTD. 12 2.93% $9,053
First Home Bank 11 2.47% $7,770
South Pacific Financial Corporation 11 2.66% $10,305
LEADERONE FINANCIAL CORPORATION 11 2.76% $5,777
North American Savings Bank, F.S.B. 10 2.44% $5,032
PRIMELENDING, A PLAINSCAPITAL COMPANY 9 2.96% $6,917
Barrington Bank & Trust Company, N.A. 9 2.62% $11,794
CORNERSTONE HOME LENDING, INC. 8 3.13% $10,968
MANN FINANCIAL INC. 7 2.80% $8,829
Umpqua Bank 7 2.59% $6,570
First Guaranty Mortgage Corporation 7 2.43% $6,105
Low VA Rates, LLC 7 2.46% $9,547
EAGLE HOME MORTGAGE, LLC 7 2.55% $9,893
BNC National Bank 7 2.29% $2,402
MORTGAGE MASTER SERVICE CORPORATION 6 2.69% $6,085
Mid-Continent Funding, Inc. 6 2.67% $11,083
Armed Forces Bank 6 2.50% $2,082
CONTOUR MORTGAGE CORPORATION 6 2.42% $5,684
Magnolia Bank 6 2.88% $9,713
HOMEAMERICAN MORTGAGE CORPORATION 6 2.42% $7,863
ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 2.69% $10,405
MORTGAGE SOLUTIONS OF COLORADO, LLC 6 3.38% $10,138
First Mortgage Solutions, LLC 5 2.40% $6,372
Northpointe Bank 5 3.08% $9,246
Commerce Home Mortgage, Inc. 5 2.68% $8,248
NFM, INC. 5 2.95% $12,044
Meridian Bank Corporation 5 2.28% $3,740
AMERICAN FINANCING CORPORATION 5 2.30% $5,110
ROUNDPOINT MORTGAGE SERVICING CORPORATION 5 2.90% $12,278
ACCELERATE MORTGAGE, LLC 4 2.25% $5,232
DHI MORTGAGE COMPANY, LTD. 4 2.31% $6,809
Amerifirst Financial, Inc. 4 2.91% $11,989
Hometown Lenders, Inc. 4 2.75% $8,362
InterContinental Capital Group, Inc 3 2.58% $3,556
First Midwest Bank 3 2.29% $4,802
PLAZA HOME MORTGAGE, INC. 3 3.00% $7,265
PRIORITY HOME LENDING, LLC 3 3.21% $17,099
Plains Commerce Bank 3 2.42% $12,600
ZILLOW HOME LOANS, LLC 3 2.29% $5,045
SOVEREIGN LENDING GROUP INCORPORATED 3 2.54% $10,117
CHURCHILL MORTGAGE CORPORATION 3 2.63% $3,620
Strong Home Mortgage, LLC 3 2.42% $1,577
SUMMIT FUNDING, INC. 3 3.08% $6,432
Sunflower Bank 3 2.25% $13,216
Wallick & Volk, Inc. 3 3.21% $2,116
U.S. Bank 3 2.71% $12,612
KS StateBank 3 2.46% $18,032
NETWORK CAPITAL FUNDING CORPORATION 3 2.42% $1,881
NATIONS DIRECT MORTGAGE, LLC 3 2.75% $3,099
CU HOME MORTGAGE SOLUTIONS, LLC 2 2.31% $8,325
Bank of England 2 2.31% $1,840
BELEM SERVICING LLC 2 2.50% $7,235
DIRECTORS MORTGAGE, INC. 2 3.31% $6,290
FIRST CONTINENTAL MORTGAGE, LTD. 2 3.00% $8,876
First Federal Bank 2 2.75% $23,419
Gateway First Bank 2 2.75% $4,303
Goldwater Bank, N.A. 2 3.06% $11,376
HOMESIDE FINANCIAL, LLC 2 2.25% $5,662
INTERNATIONAL CITY MORTGAGE, INC. 2 3.25% $5,390
KeyBank 2 2.75% $7,504
LIBERTY HOME MORTGAGE CORPORATION 2 2.50% $3,691
PANORAMA MORTGAGE GROUP, LLC 2 3.38% $3,350
PENRITH HOME LOANS LLC 2 2.50% $4,784
PNC Bank 2 3.06% $2,188
RELIANCE FIRST CAPITAL, LLC 2 2.69% $4,418
SAMMAMISH MORTGAGE COMPANY 2 2.75% $1,045
STEARNS LENDING, LLC 2 2.25% $2,667
The Central Trust Bank 2 2.38% $6,956
TJC Mortgage, Inc. 2 2.25% $3,067
Victorian Finance, LLC 2 2.44% $20,712
Wyndham Capital Mortgage, Inc. 2 2.56% $8,209
KELLER MORTGAGE, LLC 1 3.00% $8,220
JPMorgan Chase Bank 1 3.25% $3,622
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 2.75% $14,064
Heritage Bank 1 2.50% $8,488
NOVA FINANCIAL & INVESTMENT CORPORATION 1 2.25% $2,568
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.75% $14,518
OCMBC, INC. 1 2.75% $3,172
OnPoint Community Credit Union 1 3.00% $8,562
ON Q FINANCIAL, INC. 1 2.75% $18,784
AmeriHome Mortgage Company, LLC 1 2.75% $4,471
Paramount Bank 1 2.25% $5,001
GLOBAL 1 2.38% $1,813
Glacier Bank 1 2.88% $1,630
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 2.63% $1,494
GENEVA FINANCIAL, LLC 1 3.25% $3,986
First Western Trust Bank 1 2.25% $8,095
First United Bank and Trust Company 1 2.75% $3,827
First Savings Bank 1 2.25% $18,008
AMERICAN FINANCIAL RESOURCES, INC. 1 2.75% $5,609
PREMIA MORTGAGE, LLC 1 2.75% $9,821
FIRST CENTENNIAL MORTGAGE CORPORATION 1 2.50% $2,621
FirstBank 1 2.50% $2,615
ENVOY MORTGAGE, LTD 1 2.75% $12,286
EMBRACE HOME LOANS, INC. 1 2.38% $2,326
Prosperity Home Mortgage, LLC 1 3.13% $2,815
Congressional Bank 1 2.63% $21,441
RANLIFE, INC. 1 3.13% $20,772
ALAMEDA MORTGAGE CORPORATION 1 2.50% $4,472
Community First National Bank 1 2.25% $1,052
S1L, Inc. 1 3.25% $3,885
ALL WESTERN MORTGAGE, INC. 1 2.63% $4,062
Sierra Pacific Mortgage Company, Inc. 1 2.88% $16,879
Simmons Bank 1 3.25% $5,049
COMMUNITYAMERICA 1 2.75% $2,331
SOUTHWEST STAGE FUNDING, LLC 1 3.25% $4,685
Citizens Bank 1 3.25% $8,064
V.I.P. MORTGAGE, INC. 1 3.25% $11,740
CHERRY CREEK MORTGAGE, LLC 1 2.38% $1,593
CELEBRITY HOME LOANS, LLC 1 2.75% $4,620
Banner Bank 1 2.75% $4,236
Bank of the Pacific 1 2.63% $24,781
Texana Bank 1 2.25% $7,512
Alaska USA Mortgage Company LLC 1 2.75% $11,779
Axos Bank 1 2.88% $3,787
The Huntington National Bank 1 2.75% $10,560
THRIVE MORTGAGE, LLC 1 3.25% $4,968
Alaska USA Federal Credit Union 1 2.75% $11,779
Truist 1 2.60% $11,329
Ameris Bank 1 2.63% $14,260
UNITED MORTGAGE CORP. 1 2.88% $15,876
MORTGAGEONE, INC. 1 2.63% $13,312
M&T Bank 1 2.75% $6,810
MLD MORTGAGE INC. 1 2.38% $4,211
MID AMERICA MORTGAGE, INC. 1 2.88% $4,662
Nations Lending Corporation 1 3.63% $10,158
NATIONS RELIABLE LENDING, LLC 1 2.88% $5,628
MASON MCDUFFIE MORTGAGE CORPORATION 1 2.88% $2,765
LOANPAL, LLC 1 2.25% $1,492
LENOX FINANCIAL MORTGAGE CORPORATION 1 3.13% $15,733
KITSAP Credit Union 1 3.38% $13,273

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 for 2022-11-01 was $536,575, a difference of $44,125 (9.0%) versus the prior year and $-13,400 versus the prior month.

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 listing age (time on market) for 2022-11-01 was 49 days. This is 37% longer than the same period one year ago.

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.

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.