Pittsburgh VA Loan Rates, Closing Costs & Stats
PITTSBURGH, 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 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.
Pittsburgh's 135 lenders originated 1,993 VA loans during 2022. The total origination value was $499,435,000, with an average VA loan value of $250,595.
Pittsburgh VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Pittsburgh
averaged
6.06%
for the week of 2023-05-26, compared to the national average (all VA variants) of
6.408% for the same period.
Pittsburgh's average VA mortgage closing costs are $6,153.
The average rate for the prior week (2023-05-19) was
5.88% and
one month ago for the week of 2023-04-21, the
average rate was 6.01%.
The average rate one year ago was 4.88%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.01%.
Pittsburgh 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 Pittsburgh level.
The top Pittsburgh VA lender as defined by loan originations is Mortgage Research Center, LLC, with
385 VA loans originated. Their average total fees are
$6,951, which is $2,925
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Pittsburgh VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION ($5,810), The Huntington National Bank ($6,315), Barrington Bank & Trust Company, N.A. ($6,690), LAKEVIEW LOAN SERVICING, LLC ($6,778) and PENNYMAC LOAN SERVICES, LLC ($6,911).
The lowest rate Pittsburgh VA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (3.20%), LAKEVIEW LOAN SERVICING, LLC (3.98%), NVR Mortgage Finance, Inc. (4.00%), LOANDEPOT.COM, LLC (4.14%) and QUICKEN LOANS, LLC (4.24%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Pittsburgh (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 | $169,900 (11.4%) | $260,220 (6.9%) | 0.63 | 7,638 |
| 2018-02-01 | $169,900 (9.7%) | $265,383 (6.6%) | 0.62 | 7,156 |
| 2018-03-01 | $179,900 (11.4%) | $279,024 (7.5%) | 0.63 | 6,923 |
| 2018-04-01 | $184,900 (9.8%) | $285,038 (7.4%) | 0.63 | 6,960 |
| 2018-05-01 | $188,425 (10.1%) | $288,764 (7.4%) | 0.63 | 7,194 |
| 2018-06-01 | $184,900 (5.7%) | $282,786 (5.0%) | 0.62 | 7,536 |
| 2018-07-01 | $183,750 (2.1%) | $281,272 (4.0%) | 0.61 | 7,817 |
| 2018-08-01 | $182,400 (2.4%) | $277,899 (3.9%) | 0.61 | 7,964 |
| 2018-09-01 | $179,900 (2.8%) | $275,548 (3.8%) | 0.60 | 8,059 |
| 2018-10-01 | $179,450 (2.6%) | $272,377 (4.0%) | 0.61 | 8,183 |
| 2018-11-01 | $174,950 (0.0%) | $270,499 (2.7%) | 0.59 | 7,938 |
| 2018-12-01 | $169,900 (-0.1%) | $272,292 (4.6%) | 0.59 | 7,395 |
| 2019-01-01 | $169,900 (0.0%) | $272,667 (4.8%) | 0.59 | 7,000 |
| 2019-02-01 | $173,575 (2.2%) | $278,509 (5.0%) | 0.59 | 6,567 |
| 2019-03-01 | $179,900 (0.0%) | $290,792 (4.2%) | 0.60 | 6,321 |
| 2019-04-01 | $189,900 (2.7%) | $298,404 (4.7%) | 0.60 | 6,372 |
| 2019-05-01 | $195,950 (4.0%) | $302,247 (4.7%) | 0.61 | 6,526 |
| 2019-06-01 | $199,900 (8.1%) | $303,869 (7.5%) | 0.62 | 6,888 |
| 2019-07-01 | $199,900 (8.8%) | $301,611 (7.2%) | 0.63 | 7,162 |
| 2019-08-01 | $200,000 (9.7%) | $302,303 (8.8%) | 0.63 | 7,196 |
| 2019-09-01 | $199,900 (11.1%) | $304,036 (10.3%) | 0.63 | 6,900 |
| 2019-10-01 | $199,000 (10.9%) | $297,578 (9.3%) | 0.64 | 7,464 |
| 2019-11-01 | $194,000 (10.9%) | $299,052 (10.6%) | 0.64 | 7,129 |
| 2019-12-01 | $189,900 (11.8%) | $295,967 (8.7%) | 0.63 | 6,584 |
| 2020-01-01 | $189,950 (11.8%) | $303,691 (11.4%) | 0.63 | 6,154 |
| 2020-02-01 | $200,000 (15.2%) | $317,629 (14.1%) | 0.65 | 5,698 |
| 2020-03-01 | $214,950 (19.5%) | $328,028 (12.8%) | 0.67 | 5,440 |
| 2020-04-01 | $216,175 (13.8%) | $325,916 (9.2%) | 0.68 | 5,297 |
| 2020-05-01 | $225,000 (14.8%) | $329,164 (8.9%) | 0.68 | 5,478 |
| 2020-06-01 | $242,500 (21.3%) | $349,537 (15.0%) | 0.71 | 5,243 |
| 2020-07-01 | $249,450 (24.8%) | $358,438 (18.8%) | 0.72 | 4,968 |
| 2020-08-01 | $249,000 (24.5%) | $355,664 (17.7%) | 0.71 | 4,886 |
| 2020-09-01 | $243,950 (22.0%) | $355,976 (17.1%) | 0.70 | 4,863 |
| 2020-10-01 | $239,900 (20.6%) | $357,115 (20.0%) | 0.69 | 4,718 |
| 2020-11-01 | $239,450 (23.4%) | $355,035 (18.7%) | 0.70 | 4,366 |
| 2020-12-01 | $234,900 (23.7%) | $358,139 (21.0%) | 0.70 | 3,915 |
| 2021-01-01 | $239,000 (25.8%) | $368,448 (21.3%) | 0.71 | 3,398 |
| 2021-02-01 | $245,000 (22.5%) | $390,907 (23.1%) | 0.71 | 2,804 |
| 2021-03-01 | $249,900 (16.3%) | $405,843 (23.7%) | 0.71 | 2,688 |
| 2021-04-01 | $259,812 (20.2%) | $412,036 (26.4%) | 0.70 | 2,789 |
| 2021-05-01 | $260,000 (15.6%) | $407,848 (23.9%) | 0.69 | 2,961 |
| 2021-06-01 | $256,950 (6.0%) | $395,328 (13.1%) | 0.68 | 3,362 |
| 2021-07-01 | $239,999 (-3.8%) | $369,150 (3.0%) | 0.63 | 3,911 |
| 2021-08-01 | $229,900 (-7.7%) | $347,530 (-2.3%) | 0.61 | 4,188 |
| 2021-09-01 | $227,000 (-7.0%) | $340,966 (-4.2%) | 0.61 | 4,327 |
| 2021-10-01 | $225,000 (-6.2%) | $341,660 (-4.3%) | 0.60 | 4,238 |
| 2021-11-01 | $219,000 (-8.5%) | $338,716 (-4.6%) | 0.59 | 3,950 |
| 2021-12-01 | $209,900 (-10.6%) | $336,424 (-6.1%) | 0.57 | 3,492 |
| 2022-01-01 | $205,000 (-14.2%) | $345,100 (-6.3%) | 0.55 | 2,994 |
| 2022-02-01 | $214,900 (-12.3%) | $363,578 (-7.0%) | 0.56 | 2,556 |
| 2022-03-01 | $219,950 (-12.0%) | $372,279 (-8.3%) | 0.55 | 2,485 |
| 2022-04-01 | $225,000 (-13.4%) | $374,306 (-9.2%) | 0.54 | 2,600 |
| 2022-05-01 | $239,450 (-7.9%) | $370,290 (-9.2%) | 0.55 | 3,127 |
| 2022-06-01 | $239,900 (-6.6%) | $365,378 (-7.6%) | 0.53 | 3,529 |
| 2022-07-01 | $239,000 (-0.4%) | $361,229 (-2.2%) | 0.54 | 4,024 |
| 2022-08-01 | $232,500 (1.1%) | $349,532 (0.6%) | 0.54 | 4,281 |
| 2022-09-01 | $225,000 (-0.9%) | $337,871 (-0.9%) | 0.53 | 4,405 |
| 2022-10-01 | $219,900 (-2.3%) | $328,147 (-4.0%) | 0.52 | 4,581 |
| 2022-11-01 | $218,925 (0.0%) | $327,223 (-3.4%) | 0.53 | 4,536 |
| 2022-12-01 | $209,698 (-0.1%) | $324,476 (-3.6%) | 0.52 | 4,186 |
| 2023-01-01 | $199,950 (-2.5%) | $326,197 (-5.5%) | 0.49 | 3,706 |
| 2023-02-01 | $200,000 (-6.9%) | $335,684 (-7.7%) | 0.48 | 3,307 |
| 2023-03-01 | $215,000 (-2.3%) | $347,872 (-6.6%) | 0.51 | 3,156 |
| 2023-04-01 | $225,000 (0.0%) | $358,318 (-4.3%) | 0.52 | 3,276 |
Pittsburgh's median listing price comes in at 52% of the national average.
Pittsburgh's average listing price for 2023-04-01 was $358,318, a difference of $-15,988 (-4.3%) versus the prior year and $10,446 versus the prior month.
For the 2023-04-01 period, Pittsburgh had 3,276 MLS listings, a difference of 120 listings (4%) versus the prior month and 676 listings (26%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Pittsburgh (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 109 days | 1,654 sqft |
| 2018-02-01 | 111 days | 1,662 sqft |
| 2018-03-01 | 98 days | 1,700 sqft |
| 2018-04-01 | 71 days | 1,741 sqft |
| 2018-05-01 | 62 days | 1,752 sqft |
| 2018-06-01 | 58 days | 1,719 sqft |
| 2018-07-01 | 60 days | 1,680 sqft |
| 2018-08-01 | 64 days | 1,673 sqft |
| 2018-09-01 | 71 days | 1,680 sqft |
| 2018-10-01 | 74 days | 1,664 sqft |
| 2018-11-01 | 78 days | 1,650 sqft |
| 2018-12-01 | 89 days | 1,632 sqft |
| 2019-01-01 | 104 days | 1,624 sqft |
| 2019-02-01 | 107 days | 1,632 sqft |
| 2019-03-01 | 94 days | 1,664 sqft |
| 2019-04-01 | 66 days | 1,666 sqft |
| 2019-05-01 | 58 days | 1,690 sqft |
| 2019-06-01 | 58 days | 1,704 sqft |
| 2019-07-01 | 59 days | 1,713 sqft |
| 2019-08-01 | 67 days | 1,722 sqft |
| 2019-09-01 | 72 days | 1,703 sqft |
| 2019-10-01 | 67 days | 1,699 sqft |
| 2019-11-01 | 74 days | 1,680 sqft |
| 2019-12-01 | 87 days | 1,663 sqft |
| 2020-01-01 | 97 days | 1,681 sqft |
| 2020-02-01 | 96 days | 1,712 sqft |
| 2020-03-01 | 75 days | 1,725 sqft |
| 2020-04-01 | 84 days | 1,741 sqft |
| 2020-05-01 | 88 days | 1,766 sqft |
| 2020-06-01 | 85 days | 1,799 sqft |
| 2020-07-01 | 54 days | 1,796 sqft |
| 2020-08-01 | 53 days | 1,781 sqft |
| 2020-09-01 | 54 days | 1,744 sqft |
| 2020-10-01 | 57 days | 1,716 sqft |
| 2020-11-01 | 65 days | 1,681 sqft |
| 2020-12-01 | 74 days | 1,680 sqft |
| 2021-01-01 | 88 days | 1,679 sqft |
| 2021-02-01 | 89 days | 1,678 sqft |
| 2021-03-01 | 67 days | 1,693 sqft |
| 2021-04-01 | 45 days | 1,708 sqft |
| 2021-05-01 | 45 days | 1,700 sqft |
| 2021-06-01 | 40 days | 1,689 sqft |
| 2021-07-01 | 39 days | 1,627 sqft |
| 2021-08-01 | 41 days | 1,607 sqft |
| 2021-09-01 | 46 days | 1,602 sqft |
| 2021-10-01 | 50 days | 1,587 sqft |
| 2021-11-01 | 55 days | 1,567 sqft |
| 2021-12-01 | 65 days | 1,553 sqft |
| 2022-01-01 | 78 days | 1,562 sqft |
| 2022-02-01 | 78 days | 1,612 sqft |
| 2022-03-01 | 57 days | 1,608 sqft |
| 2022-04-01 | 40 days | 1,628 sqft |
| 2022-05-01 | 37 days | 1,624 sqft |
| 2022-06-01 | 37 days | 1,621 sqft |
| 2022-07-01 | 39 days | 1,624 sqft |
| 2022-08-01 | 44 days | 1,615 sqft |
| 2022-09-01 | 50 days | 1,588 sqft |
| 2022-10-01 | 54 days | 1,576 sqft |
| 2022-11-01 | 59 days | 1,570 sqft |
| 2022-12-01 | 72 days | 1,554 sqft |
| 2023-01-01 | 86 days | 1,549 sqft |
| 2023-02-01 | 89 days | 1,540 sqft |
| 2023-03-01 | 65 days | 1,568 sqft |
| 2023-04-01 | 47 days | 1,600 sqft |
Pittsburgh's median square footage for active listings during the 2023-04-01 period was 1,600 sqft. One year prior, the average listing was 1,628 sqft.