Philadelphia VA Loans

PHILADELPHIA, PA

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.

Philadelphia's 217 lenders originated 5,750 VA loans during 2021. The total origination value was $1,789,560,000, with an average VA loan value of $311,228.

Philadelphia VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Philadelphia averaged 4.52% for the week of 2022-03-25, compared to the national average (all VA variants) of 4.399% for the same period.

The average rate for the prior week (2022-03-18) was 4.7% and one month ago for the week of 2022-02-18, the average rate was 4.32%.

The average rate one year ago was 3.3%.

For refis of the same type during the week of 2022-03-25, the average rate was 4.55%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Philadelphia 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 Philadelphia level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 534 2.86% $7,803
QUICKEN LOANS, LLC 463 2.46% $6,278
FREEDOM MORTGAGE CORPORATION 392 2.47% $4,074
PENNYMAC LOAN SERVICES, LLC 261 2.36% $7,035
NAVY FEDERAL CREDIT UNION 223 2.49% $7,552
NEW DAY FINANCIAL, LLC 144 2.77% $9,284
LOANDEPOT.COM, LLC 137 2.54% $7,444
UNITED WHOLESALE MORTGAGE, LLC 136 2.49% $7,215
VILLAGE CAPITAL & INVESTMENT LLC 128 2.32% $4,861
CROSSCOUNTRY MORTGAGE, LLC 124 2.86% $8,634
USAA Federal Savings Bank 124 2.85% $5,596
LAKEVIEW LOAN SERVICING, LLC 94 2.49% $4,462
HOME POINT FINANCIAL CORPORATION 92 2.45% $7,956
NEWREZ LLC 91 2.59% $6,116
GUARANTEED RATE, INC. 89 2.63% $8,454
CALIBER HOME LOANS, INC. 84 2.46% $5,023
MOVEMENT MORTGAGE, LLC 79 2.75% $8,597
Mr. Cooper ( Nationstar Mortgage ) 76 2.73% $4,953
Wells Fargo Bank 74 2.55% $5,842
CLEARPATH LENDING 72 2.37% $5,496
The Federal Savings Bank 69 2.57% $9,240
Prosperity Home Mortgage, LLC 62 2.70% $10,900
Citizens Bank 45 2.62% $7,531
HOMEBRIDGE FINANCIAL SERVICES, INC. 43 2.64% $8,516
ALLIED MORTGAGE GROUP, INC. 39 2.88% $7,547
Barrington Bank & Trust Company, N.A. 38 2.96% $5,948
Mortgage America, Inc. 34 2.89% $8,438
Huntingdon Valley Bank 30 2.85% $8,554
AMERISAVE MORTGAGE CORPORATION 29 2.72% $9,294
PENTAGON FEDERAL CREDIT UNION 29 2.36% $2,869
Low VA Rates, LLC 29 2.53% $4,227
SUCCESS MORTGAGE PARTNERS, INC. 28 2.94% $9,610
PLANET HOME LENDING, LLC 27 2.60% $4,520
FINANCE OF AMERICA MORTGAGE LLC 26 2.87% $10,444
Carrington Mortgage Services, LLC 25 3.08% $5,360
InterContinental Capital Group, Inc 24 2.41% $5,146
Lakeview Community Capital, LLC 24 2.57% $3,842
BROKER SOLUTIONS, INC. 24 2.75% $9,002
AMERICAN FINANCIAL NETWORK, INC. 23 2.68% $11,375
Meridian Bank Corporation 21 2.51% $8,649
GREENTREE MORTGAGE COMPANY, L.P. 21 2.71% $8,488
GUARANTEED RATE AFFINITY, LLC 20 2.56% $8,364
Mid-Continent Funding, Inc. 18 2.83% $8,018
NBKC BANK 18 2.49% $6,244
Magnolia Bank 17 2.62% $9,948
First Guaranty Mortgage Corporation 17 2.41% $5,876
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 17 2.65% $8,294
NVR Mortgage Finance, Inc. 16 2.69% $9,327
SOVEREIGN LENDING GROUP INCORPORATED 16 2.54% $7,137
BNC National Bank 16 2.29% $5,541
EMM LOANS LLC 15 2.88% $9,808
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 15 2.78% $5,065
North American Savings Bank, F.S.B. 15 2.32% $7,032
ACCELERATE MORTGAGE, LLC 14 2.23% $9,180
MUTUAL OF OMAHA MORTGAGE, INC. 14 2.55% $7,863
NP, Inc. 13 2.43% $6,114
APEX HOME LOANS, INC. 13 2.89% $7,200
Keystone Funding, Inc. 13 2.55% $9,199
Flagstar Bank, FSB 13 2.71% $6,019
Summit Mortgage Corporation 12 2.78% $9,825
CMG MORTGAGE, INC. 12 3.16% $10,712
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 2.84% $7,635
PNC Bank 10 2.95% $6,840
SUN WEST MORTGAGE COMPANY, INC. 10 2.44% $6,407
AmRes Corporation 10 2.46% $5,524
DRAPER AND KRAMER MORTGAGE CORP. 9 2.53% $6,566
Mid Penn Bank 9 2.99% $9,696
Paramount Residential Mortgage Group, Inc. 9 2.79% $5,683
LENDUS, LLC 8 3.02% $14,581
KS StateBank 8 2.39% $3,381
TJC Mortgage, Inc. 8 2.25% $7,061
Gateway First Bank 8 3.03% $9,464
NFM, INC. 8 3.14% $13,985
Univest Bank and Trust Co. 8 2.91% $11,039
NATION ONE MORTGAGE CORPORATION 8 3.27% $12,774
Advisors Mortgage Group, L.L.C. 8 2.81% $8,520
ENVOY MORTGAGE, LTD 7 2.98% $8,741
Equity Prime Mortgage LLC 7 3.36% $9,751
EAGLE HOME MORTGAGE, LLC 7 2.70% $12,222
Wilmington Savings Fund Society, FSB 7 2.71% $9,767
GUARANTY HOME MORTGAGE CORPORATION 7 2.66% $10,602
RESIDENTIAL MORTGAGE SERVICES, INC. 7 2.82% $12,051
Presidential Bank, FSB 7 2.70% $8,560
Philadelphia Mortgage Advisors, Inc. 7 2.96% $10,506
Northpointe Bank 7 2.75% $6,820
TBI MORTGAGE COMPANY 6 2.58% $9,608
Capital Bank 6 2.40% $7,189
ACADEMY MORTGAGE CORPORATION 6 2.77% $11,630
PRIMELENDING, A PLAINSCAPITAL COMPANY 6 2.98% $7,692
MORTGAGE ACCESS CORP. 6 3.02% $9,567
AmeriHome Mortgage Company, LLC 6 2.71% $4,362
DEVELOPER'S MORTGAGE COMPANY 6 2.81% $5,967
AMERICAN HERITAGE FCU 6 2.93% $7,985
UNION HOME MORTGAGE CORP. 6 2.35% $10,107
Northeast Equitable Mortgage, LLC 6 2.56% $13,048
US MORTGAGE CORPORATION 5 2.48% $4,908
First Home Bank 5 2.65% $7,354
ABSOLUTE HOME MORTGAGE CORPORATION 5 3.03% $10,925
U.S. Bank 5 2.90% $8,271
Prime Choice Funding Inc. 5 2.15% $5,888
EMBRACE HOME LOANS, INC. 5 2.58% $5,932
Mortgage Network, Inc. 5 2.88% $7,556
ROUNDPOINT MORTGAGE SERVICING CORPORATION 5 2.73% $9,100
Quaint Oak Mortgage, LLC 5 2.80% $14,813
CONTOUR MORTGAGE CORPORATION 5 2.40% $6,035
Strong Home Mortgage, LLC 4 2.34% $3,901
AMERICAN FINANCING CORPORATION 4 2.47% $6,619
NJ LENDERS CORP. 4 2.47% $5,097
Bank of England 4 2.56% $17,880
Republic Bank 4 2.41% $6,620
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 2.44% $6,061
PLAZA HOME MORTGAGE, INC. 4 2.53% $4,231
PREMIA MORTGAGE, LLC 4 2.53% $1,092
First Federal Bank 4 2.94% $13,542
Princeton Mortgage Corporation 4 2.78% $8,338
Wyndham Capital Mortgage, Inc. 4 2.50% $3,975
BAYSHORE MORTGAGE FUNDING, LLC 3 2.92% $10,651
Florida Capital Bank 3 2.38% $15,403
SIWELL, INC. 3 2.46% $8,392
CHERRY CREEK MORTGAGE, LLC 3 2.33% $7,586
First Mortgage Solutions, LLC 3 2.54% $4,058
EVERETT FINANCIAL, INC. 3 2.96% $16,012
ROYAL UNITED MORTGAGE LLC 3 3.04% $4,011
Hometown Lenders, Inc. 3 3.08% $6,977
HOMESIDE FINANCIAL, LLC 3 2.58% $10,899
Sunflower Bank 3 2.33% $7,303
Santander Bank, N.A. 3 2.63% $7,201
FEDERATED LENDING CORPORATION 3 3.17% $13,049
The Ephrata National Bank 3 2.83% $11,599
CELEBRITY HOME LOANS, LLC 3 2.71% $8,313
Paramount Bank 3 2.67% $9,720
Evesham Mortgage, LLC 3 2.79% $5,052
OCMBC, INC. 3 2.63% $10,125
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.42% $10,983
Bank of America 3 2.58% $7,010
First Federal Bank of Kansas City 3 2.33% $6,072
DHI MORTGAGE COMPANY, LTD. 3 2.50% $15,450
STEARNS LENDING, LLC 3 2.63% $9,548
Plains Commerce Bank 3 2.67% $4,036
1st Colonial Community Bank 2 2.75% $15,803
Atlantic Home Loans, Inc. 2 2.94% $8,460
Colonial Savings, F.A. 2 3.25% $8,559
Credence Funding Corporation 2 2.31% $3,470
EQUITY RESOURCES, INC. 2 2.44% $3,417
FIRST HERITAGE FINANCIAL, LLC 2 2.94% $3,104
First Internet Bank of Indiana 2 2.50% $6,402
Firstrust Savings Bank 2 2.69% $4,459
GUILD MORTGAGE COMPANY 2 3.31% $7,465
Home Mortgage Alliance Corp 2 3.19% $11,309
HOMESTEAD FUNDING CORP. 2 2.25% $1,815
INTERCAP LENDING INC. 2 2.94% $10,099
KELLER MORTGAGE, LLC 2 2.56% $11,914
LOANPAL, LLC 2 2.50% $3,934
MID AMERICA MORTGAGE, INC. 2 3.06% $6,833
Nations Lending Corporation 2 2.44% $3,967
NATIONWIDE MORTGAGE BANKERS, INC. 2 3.00% $15,120
PHH Mortgage Corporation 2 3.19% $9,259
RAPID MORTGAGE COMPANY 2 3.00% $9,484
RESIDENTIAL BANCORP. 2 2.50% $12,847
Truist Bank 2 2.63% $3,410
UNITED SECURITY FINANCIAL CORP 2 2.00% $6,205
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.25% $2,530
MILEND, INC. 1 2.75% $14,939
MDE Home Loans, LLC 1 3.00% $23,199
Manufacturers and Traders Trust Company 1 2.88% $5,975
LIBERTY HOME MORTGAGE CORPORATION 1 2.25% $4,003
West Town Bank & Trust 1 2.25% $3,527
RELIANCE FIRST CAPITAL, LLC 1 2.75% $9,981
LEGEND LENDING CORPORATION 1 3.00% $2,788
AMERICAN ADVISORS GROUP 1 2.50% $5,141
RESIDENTIAL HOME FUNDING CORP. 1 2.50% $8,829
LEADERONE FINANCIAL CORPORATION 1 3.75% $11,784
INTERCOASTAL MORTGAGE COMPANY 1 2.63% $14,503
HOWARD HANNA FINANCIAL SERVICES, INC. 1 3.25% $22,887
Homesale Mortgage, LLC 1 2.63% $4,853
Shamrock Home Loans, Inc. 1 3.38% $12,780
Sierra Pacific Mortgage Company, Inc. 1 2.50% $12,964
Home Loan Investment Bank, F.S.B. 1 2.50% $4,910
SOUTHERN TRUST MORTGAGE, LLC 1 2.75% $9,211
SOUTHPOINT FINANCIAL SERVICES, INC. 1 2.25% $9,703
Fulton Bank 1 2.88% $3,282
Foote Capital Mortgage Company 1 2.75% $4,609
First Option Mortgage, LLC 1 3.75% $0
FIRST HOME MORTGAGE CORPORATION 1 2.63% $8,740
FirstBank 1 2.38% $11,766
First Bank 1 2.75% $4,438
FIRST ALLIANCE HOME MORTGAGE, LLC 1 2.25% $4,191
Fifth Third Bank 1 3.13% $5,781
TD Bank 1 3.13% $23,565
Texana Bank 1 2.38% $19,477
FAMILY FIRST FUNDING LLC 1 2.88% $4,795
Customers Bank 1 2.50% $10,557
The Huntington National Bank 1 2.75% $7,146
THRIVE MORTGAGE, LLC 1 3.25% $5,340
TIAA, FSB 1 2.50% $7,046
TIDEWATER MORTGAGE SERVICES, INC. 1 2.38% $4,442
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 3.13% $5,268
TOP FLITE FINANCIAL, INC. 1 2.38% $14,878
Towne Bank 1 2.38% $17,913
TOWNE MORTGAGE COMPANY 1 2.25% $14,467
Acre Mortgage and Financial Inc 1 2.75% $17,480
CityWorth Mortgage LLC 1 2.88% $5,187
Union Savings Bank 1 2.25% $1,376
UNITED MORTGAGE CORP. 1 2.75% $14,835
ZILLOW HOME LOANS, LLC 1 2.38% $15,419
Cf Bank 1 2.50% $5,367
Blue Ridge Bank 1 3.13% $2,545
BAY CAPITAL MORTGAGE CORPORATION 1 2.75% $3,660
Atlantic Coast Mortgage, LLC 1 3.00% $52,354
ARC HOME LLC 1 2.38% $6,917
Amerifirst Financial, Inc. 1 3.00% $2,725
Waterstone Mortgage Corporation 1 3.25% $26,629
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.75% $15,209
Pinnacle Bank 1 2.63% $12,029
PIKE CREEK MORTGAGE SERVICES, INC. 1 4.75% $5,281
OCEANSIDE MORTGAGE COMPANY 1 2.75% $1,131
NATIONS DIRECT MORTGAGE, LLC 1 3.38% $5,814

The top Philadelphia VA lender as defined by loan originations is Mortgage Research Center, LLC, with 534 VA loans originated. Their average total fees are $7,803, which is $1,525 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Philadelphia VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION ($2,869), Lakeview Community Capital, LLC ($3,842), FREEDOM MORTGAGE CORPORATION ($4,074), Low VA Rates, LLC ($4,227) and LAKEVIEW LOAN SERVICING, LLC ($4,462).

The lowest rate Philadelphia VA lenders (with over 10 loans originated) are ACCELERATE MORTGAGE, LLC (2.23%), BNC National Bank (2.29%), North American Savings Bank, F.S.B. (2.32%), VILLAGE CAPITAL & INVESTMENT LLC (2.32%) and PENTAGON FEDERAL CREDIT UNION (2.36%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Philadelphia (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 $229,995 (5.0%) $343,281 (3.3%) 0.85 20,339
2018-02-01 $237,000 (7.8%) $345,647 (2.3%) 0.85 20,590
2018-03-01 $240,000 (4.7%) $355,764 (2.7%) 0.83 19,886
2018-04-01 $249,950 (6.4%) $369,050 (3.8%) 0.84 20,785
2018-05-01 $264,500 (8.0%) $383,010 (5.4%) 0.88 21,602
2018-06-01 $269,000 (8.1%) $388,456 (5.5%) 0.90 22,210
2018-07-01 $269,450 (7.8%) $387,880 (6.1%) 0.90 22,358
2018-08-01 $262,450 (5.7%) $382,698 (6.2%) 0.88 22,361
2018-09-01 $262,000 (6.1%) $382,055 (5.6%) 0.88 22,688
2018-10-01 $264,950 (6.0%) $382,170 (4.5%) 0.89 23,033
2018-11-01 $263,522 (8.7%) $379,513 (7.4%) 0.88 22,287
2018-12-01 $254,900 (7.5%) $373,201 (7.6%) 0.87 20,457
2019-01-01 $249,900 (8.7%) $363,923 (6.0%) 0.86 18,903
2019-02-01 $251,500 (6.1%) $368,398 (6.6%) 0.84 18,647
2019-03-01 $265,286 (10.5%) $383,560 (7.8%) 0.86 19,042
2019-04-01 $275,000 (10.0%) $395,831 (7.3%) 0.87 19,536
2019-05-01 $287,950 (8.9%) $406,697 (6.2%) 0.89 20,302
2019-06-01 $289,900 (7.8%) $408,518 (5.2%) 0.89 20,743
2019-07-01 $287,000 (6.5%) $406,737 (4.9%) 0.89 20,591
2019-08-01 $289,286 (10.2%) $409,485 (7.0%) 0.91 19,629
2019-09-01 $297,000 (13.4%) $421,214 (10.3%) 0.94 18,514
2019-10-01 $299,000 (12.9%) $428,117 (12.0%) 0.95 18,561
2019-11-01 $295,000 (12.0%) $423,999 (11.7%) 0.95 17,530
2019-12-01 $287,604 (12.8%) $422,320 (13.2%) 0.96 15,078
2020-01-01 $285,000 (14.1%) $420,342 (15.5%) 0.95 13,657
2020-02-01 $291,900 (16.1%) $433,129 (17.6%) 0.94 13,176
2020-03-01 $299,950 (13.1%) $447,228 (16.6%) 0.94 13,245
2020-04-01 $299,900 (9.1%) $445,648 (12.6%) 0.93 11,986
2020-05-01 $311,131 (8.1%) $454,994 (11.9%) 0.94 12,462
2020-06-01 $327,450 (13.0%) $475,821 (16.5%) 0.96 12,455
2020-07-01 $339,950 (18.5%) $496,733 (22.1%) 0.97 11,429
2020-08-01 $342,900 (18.5%) $506,456 (23.7%) 0.98 10,834
2020-09-01 $343,032 (15.5%) $510,361 (21.2%) 0.98 10,799
2020-10-01 $349,000 (16.7%) $516,866 (20.7%) 1.00 10,808
2020-11-01 $339,500 (15.1%) $512,902 (21.0%) 0.97 10,399
2020-12-01 $327,000 (13.7%) $505,018 (19.6%) 0.96 9,091
2021-01-01 $324,000 (13.7%) $507,994 (20.9%) 0.95 7,911
2021-02-01 $322,450 (10.5%) $518,908 (19.8%) 0.93 7,113
2021-03-01 $325,000 (8.4%) $529,998 (18.5%) 0.91 7,227
2021-04-01 $339,450 (13.2%) $546,861 (22.7%) 0.91 7,574
2021-05-01 $339,900 (9.3%) $526,530 (15.7%) 0.89 8,161
2021-06-01 $334,900 (2.3%) $504,213 (6.0%) 0.87 9,826
2021-07-01 $325,000 (-4.4%) $490,693 (-1.2%) 0.84 10,530
2021-08-01 $320,000 (-6.7%) $473,091 (-6.6%) 0.84 10,911
2021-09-01 $319,950 (-6.7%) $470,053 (-7.9%) 0.84 10,970
2021-10-01 $319,999 (-8.3%) $472,739 (-8.5%) 0.84 10,623
2021-11-01 $312,450 (-8.0%) $472,371 (-7.9%) 0.82 9,729
2021-12-01 $299,950 (-8.3%) $468,154 (-7.3%) 0.80 8,358
2022-01-01 $299,900 (-7.4%) $479,692 (-5.6%) 0.80 6,917
Philadelphia's median listing price for 2022-01-01 was $299,900, a difference of $-24,100 (-7.4%) versus the prior year and $-50 versus the prior month.

Philadelphia's median listing price comes in at 80% of the national average.

Philadelphia's average listing price for 2022-01-01 was $479,692, a difference of $-28,302 (-5.6%) versus the prior year and $11,538 versus the prior month.

For the 2022-01-01 period, Philadelphia had 6,917 MLS listings, a difference of -1,441 listings (-17%) versus the prior month and -994 listings (-13%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Philadelphia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 87 days 1,700 sqft
2018-02-01 80 days 1,702 sqft
2018-03-01 59 days 1,714 sqft
2018-04-01 55 days 1,749 sqft
2018-05-01 52 days 1,795 sqft
2018-06-01 53 days 1,820 sqft
2018-07-01 60 days 1,824 sqft
2018-08-01 63 days 1,803 sqft
2018-09-01 64 days 1,800 sqft
2018-10-01 64 days 1,800 sqft
2018-11-01 66 days 1,800 sqft
2018-12-01 75 days 1,780 sqft
2019-01-01 83 days 1,806 sqft
2019-02-01 79 days 1,853 sqft
2019-03-01 57 days 1,853 sqft
2019-04-01 49 days 1,853 sqft
2019-05-01 48 days 1,878 sqft
2019-06-01 52 days 1,884 sqft
2019-07-01 59 days 1,860 sqft
2019-08-01 63 days 1,864 sqft
2019-09-01 63 days 1,892 sqft
2019-10-01 61 days 1,890 sqft
2019-11-01 64 days 1,853 sqft
2019-12-01 75 days 1,832 sqft
2020-01-01 82 days 1,800 sqft
2020-02-01 69 days 1,825 sqft
2020-03-01 49 days 1,849 sqft
2020-04-01 62 days 1,831 sqft
2020-05-01 73 days 1,864 sqft
2020-06-01 59 days 1,885 sqft
2020-07-01 46 days 1,879 sqft
2020-08-01 45 days 1,850 sqft
2020-09-01 43 days 1,797 sqft
2020-10-01 48 days 1,786 sqft
2020-11-01 52 days 1,745 sqft
2020-12-01 61 days 1,688 sqft
2021-01-01 70 days 1,643 sqft
2021-02-01 65 days 1,618 sqft
2021-03-01 48 days 1,628 sqft
2021-04-01 40 days 1,663 sqft
2021-05-01 38 days 1,680 sqft
2021-06-01 37 days 1,671 sqft
2021-07-01 41 days 1,655 sqft
2021-08-01 43 days 1,625 sqft
2021-09-01 47 days 1,605 sqft
2021-10-01 49 days 1,598 sqft
2021-11-01 51 days 1,558 sqft
2021-12-01 58 days 1,533 sqft
2022-01-01 65 days 1,508 sqft
Philadelphia's median listing age (time on market) for 2022-01-01 was 65 days. This is -7% shorter than the same period one year ago.

Philadelphia's median square footage for active listings during the 2022-01-01 period was 1,508 sqft. One year prior, the average listing was 1,643 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.