Pittsburgh VA Loans
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 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 162 lenders originated 4,214 VA loans during 2021. The total origination value was $978,840,000, with an average VA loan value of $232,283.
Pittsburgh VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Pittsburgh
averaged
5.18%
for the week of 2022-05-20, compared to the national average (all VA variants) of
5.143% for the same period.
The average rate for the prior week (2022-05-13) was
5.19% and
one month ago for the week of 2022-04-15, the
average rate was 4.85%.
The average rate one year ago was 3.25%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.21%.
Pittsburgh 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 Pittsburgh level.
The top Pittsburgh VA lender as defined by loan originations is Mortgage Research Center, LLC, with
527 VA loans originated. Their average total fees are
$5,569, which is $14
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Pittsburgh VA lenders (with over 10 loans originated) are
Union Savings Bank ($3,152), FREEDOM MORTGAGE CORPORATION ($3,382), VILLAGE CAPITAL & INVESTMENT LLC ($3,808), PENTAGON FEDERAL CREDIT UNION ($3,865) and LAKEVIEW LOAN SERVICING, LLC ($3,892).
The lowest rate Pittsburgh VA lenders (with over 10 loans originated) are
CLEARPATH LENDING (2.25%), PENTAGON FEDERAL CREDIT UNION (2.33%), Low VA Rates, LLC (2.38%), VILLAGE CAPITAL & INVESTMENT LLC (2.40%) and North American Savings Bank, F.S.B. (2.40%).
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 | $170,000 (9.7%) | $261,913 (6.9%) | 0.63 | 7,787 |
| 2018-02-01 | $172,500 (8.9%) | $267,949 (6.8%) | 0.62 | 7,298 |
| 2018-03-01 | $179,900 (9.1%) | $281,372 (7.7%) | 0.62 | 7,052 |
| 2018-04-01 | $187,750 (10.5%) | $287,343 (7.7%) | 0.63 | 7,111 |
| 2018-05-01 | $189,900 (8.6%) | $290,644 (7.2%) | 0.63 | 7,350 |
| 2018-06-01 | $189,000 (5.1%) | $285,803 (5.5%) | 0.63 | 7,687 |
| 2018-07-01 | $187,700 (4.3%) | $283,957 (4.6%) | 0.63 | 7,952 |
| 2018-08-01 | $185,950 (3.4%) | $280,188 (4.1%) | 0.62 | 8,144 |
| 2018-09-01 | $184,900 (2.8%) | $277,416 (3.9%) | 0.62 | 8,252 |
| 2018-10-01 | $179,950 (2.3%) | $275,090 (4.2%) | 0.60 | 8,389 |
| 2018-11-01 | $177,000 (-1.1%) | $273,059 (2.8%) | 0.59 | 8,136 |
| 2018-12-01 | $173,900 (-0.6%) | $274,286 (4.7%) | 0.60 | 7,565 |
| 2019-01-01 | $171,250 (0.7%) | $274,817 (4.9%) | 0.59 | 7,180 |
| 2019-02-01 | $175,400 (1.7%) | $280,871 (4.8%) | 0.59 | 6,748 |
| 2019-03-01 | $184,186 (2.4%) | $292,170 (3.8%) | 0.60 | 6,530 |
| 2019-04-01 | $189,900 (1.2%) | $299,130 (4.1%) | 0.60 | 6,479 |
| 2019-05-01 | $197,450 (4.0%) | $302,885 (4.2%) | 0.61 | 6,674 |
| 2019-06-01 | $199,900 (5.8%) | $304,387 (6.5%) | 0.62 | 7,070 |
| 2019-07-01 | $199,900 (6.5%) | $302,033 (6.4%) | 0.62 | 7,369 |
| 2019-08-01 | $199,900 (7.5%) | $300,057 (7.1%) | 0.63 | 7,288 |
| 2019-09-01 | $199,900 (8.1%) | $297,732 (7.3%) | 0.63 | 7,212 |
| 2019-10-01 | $197,750 (9.9%) | $295,298 (7.4%) | 0.63 | 7,360 |
| 2019-11-01 | $194,900 (10.1%) | $297,273 (8.9%) | 0.63 | 6,999 |
| 2019-12-01 | $189,700 (9.1%) | $294,069 (7.2%) | 0.63 | 6,458 |
| 2020-01-01 | $189,900 (10.9%) | $300,862 (9.5%) | 0.63 | 6,021 |
| 2020-02-01 | $200,000 (14.0%) | $316,877 (12.8%) | 0.65 | 5,784 |
| 2020-03-01 | $214,950 (16.7%) | $326,634 (11.8%) | 0.67 | 5,521 |
| 2020-04-01 | $217,000 (14.3%) | $324,067 (8.3%) | 0.68 | 5,413 |
| 2020-05-01 | $225,000 (14.0%) | $328,230 (8.4%) | 0.68 | 5,510 |
| 2020-06-01 | $247,200 (23.7%) | $351,154 (15.4%) | 0.72 | 5,287 |
| 2020-07-01 | $249,900 (25.0%) | $359,668 (19.1%) | 0.72 | 4,982 |
| 2020-08-01 | $249,900 (25.0%) | $359,066 (19.7%) | 0.71 | 4,824 |
| 2020-09-01 | $249,900 (25.0%) | $361,718 (21.5%) | 0.71 | 4,809 |
| 2020-10-01 | $245,000 (23.9%) | $361,931 (22.6%) | 0.70 | 4,646 |
| 2020-11-01 | $240,000 (23.1%) | $359,640 (21.0%) | 0.69 | 4,297 |
| 2020-12-01 | $238,950 (26.0%) | $363,443 (23.6%) | 0.70 | 3,870 |
| 2021-01-01 | $243,500 (28.2%) | $374,484 (24.5%) | 0.72 | 3,348 |
| 2021-02-01 | $249,900 (25.0%) | $396,864 (25.2%) | 0.72 | 2,767 |
| 2021-03-01 | $257,950 (20.0%) | $414,079 (26.8%) | 0.72 | 2,623 |
| 2021-04-01 | $267,450 (23.3%) | $418,222 (29.1%) | 0.72 | 2,719 |
| 2021-05-01 | $268,000 (19.1%) | $413,019 (25.8%) | 0.71 | 2,910 |
| 2021-06-01 | $262,450 (6.2%) | $399,571 (13.8%) | 0.68 | 3,313 |
| 2021-07-01 | $247,500 (-1.0%) | $376,143 (4.6%) | 0.64 | 3,784 |
| 2021-08-01 | $232,500 (-7.0%) | $353,036 (-1.7%) | 0.61 | 4,113 |
| 2021-09-01 | $229,900 (-8.0%) | $344,807 (-4.7%) | 0.61 | 4,250 |
| 2021-10-01 | $225,000 (-8.2%) | $345,457 (-4.6%) | 0.59 | 4,158 |
| 2021-11-01 | $219,450 (-8.6%) | $340,286 (-5.4%) | 0.58 | 3,894 |
| 2021-12-01 | $210,000 (-12.1%) | $339,063 (-6.7%) | 0.56 | 3,453 |
| 2022-01-01 | $209,900 (-13.8%) | $349,138 (-6.8%) | 0.56 | 2,934 |
| 2022-02-01 | $215,000 (-14.0%) | $368,740 (-7.1%) | 0.55 | 2,504 |
| 2022-03-01 | $222,500 (-13.7%) | $374,164 (-9.6%) | 0.55 | 2,429 |
| 2022-04-01 | $229,000 (-14.4%) | $374,156 (-10.5%) | 0.54 | 2,530 |
Pittsburgh's median listing price comes in at 54% of the national average.
Pittsburgh's average listing price for 2022-04-01 was $374,156, a difference of $-44,066 (-10.5%) versus the prior year and $-8 versus the prior month.
For the 2022-04-01 period, Pittsburgh had 2,530 MLS listings, a difference of 101 listings (4%) versus the prior month and -189 listings (-7%) 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 | 1,590 sqft |
| 2018-02-01 | 111 days | 1,578 sqft |
| 2018-03-01 | 99 days | 1,548 sqft |
| 2018-04-01 | 70 days | 1,578 sqft |
| 2018-05-01 | 62 days | 1,606 sqft |
| 2018-06-01 | 58 days | 1,623 sqft |
| 2018-07-01 | 60 days | 1,678 sqft |
| 2018-08-01 | 65 days | 1,613 sqft |
| 2018-09-01 | 70 days | 1,612 sqft |
| 2018-10-01 | 73 days | 1,630 sqft |
| 2018-11-01 | 79 days | 1,627 sqft |
| 2018-12-01 | 90 days | 1,564 sqft |
| 2019-01-01 | 104 days | 1,624 sqft |
| 2019-02-01 | 108 days | 1,613 sqft |
| 2019-03-01 | 95 days | 1,592 sqft |
| 2019-04-01 | 68 days | 1,563 sqft |
| 2019-05-01 | 59 days | 1,616 sqft |
| 2019-06-01 | 58 days | 1,611 sqft |
| 2019-07-01 | 61 days | 1,624 sqft |
| 2019-08-01 | 64 days | 1,715 sqft |
| 2019-09-01 | 66 days | 1,811 sqft |
| 2019-10-01 | 67 days | 1,692 sqft |
| 2019-11-01 | 73 days | 1,679 sqft |
| 2019-12-01 | 86 days | 1,665 sqft |
| 2020-01-01 | 98 days | 1,688 sqft |
| 2020-02-01 | 98 days | 1,711 sqft |
| 2020-03-01 | 78 days | 1,721 sqft |
| 2020-04-01 | 83 days | 1,736 sqft |
| 2020-05-01 | 91 days | 1,773 sqft |
| 2020-06-01 | 89 days | 1,800 sqft |
| 2020-07-01 | 56 days | 1,800 sqft |
| 2020-08-01 | 55 days | 1,800 sqft |
| 2020-09-01 | 55 days | 1,770 sqft |
| 2020-10-01 | 57 days | 1,730 sqft |
| 2020-11-01 | 64 days | 1,700 sqft |
| 2020-12-01 | 73 days | 1,693 sqft |
| 2021-01-01 | 87 days | 1,694 sqft |
| 2021-02-01 | 87 days | 1,686 sqft |
| 2021-03-01 | 61 days | 1,706 sqft |
| 2021-04-01 | 44 days | 1,727 sqft |
| 2021-05-01 | 43 days | 1,719 sqft |
| 2021-06-01 | 41 days | 1,705 sqft |
| 2021-07-01 | 40 days | 1,657 sqft |
| 2021-08-01 | 42 days | 1,629 sqft |
| 2021-09-01 | 46 days | 1,618 sqft |
| 2021-10-01 | 50 days | 1,600 sqft |
| 2021-11-01 | 55 days | 1,585 sqft |
| 2021-12-01 | 65 days | 1,570 sqft |
| 2022-01-01 | 79 days | 1,580 sqft |
| 2022-02-01 | 82 days | 1,624 sqft |
| 2022-03-01 | 61 days | 1,629 sqft |
| 2022-04-01 | 42 days | 1,654 sqft |
Pittsburgh's median square footage for active listings during the 2022-04-01 period was 1,654 sqft. One year prior, the average listing was 1,727 sqft.
