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%.

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

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.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 527 2.90% $5,569
QUICKEN LOANS, LLC 407 2.53% $5,556
FREEDOM MORTGAGE CORPORATION 238 2.52% $3,382
PENNYMAC LOAN SERVICES, LLC 171 2.44% $6,148
NEW DAY FINANCIAL, LLC 135 2.85% $7,576
USAA Federal Savings Bank 127 2.86% $5,489
UNITED WHOLESALE MORTGAGE, LLC 110 2.58% $5,525
Citizens Bank 109 2.61% $7,658
NAVY FEDERAL CREDIT UNION 106 2.46% $6,309
VILLAGE CAPITAL & INVESTMENT LLC 94 2.40% $3,808
UNION HOME MORTGAGE CORP. 74 2.58% $7,230
EQUITY RESOURCES, INC. 70 2.54% $7,583
LOANDEPOT.COM, LLC 69 2.57% $6,700
Victorian Finance, LLC 63 2.81% $6,544
CALIBER HOME LOANS, INC. 54 2.51% $5,997
Wells Fargo Bank 54 2.63% $4,756
LAKEVIEW LOAN SERVICING, LLC 54 2.53% $3,892
HOWARD HANNA FINANCIAL SERVICES, INC. 50 2.68% $6,190
CLEARPATH LENDING 50 2.25% $4,965
Mr. Cooper ( Nationstar Mortgage ) 47 2.94% $4,408
NVR Mortgage Finance, Inc. 43 2.88% $9,634
GUARANTEED RATE AFFINITY, LLC 43 2.67% $6,811
The Huntington National Bank 39 2.75% $6,702
AFFORDABLE MORTGAGE ADVISORS, LLC. 38 2.69% $9,382
WEST PENN FINANCIAL SERVICE CENTER, INC. 35 2.62% $6,423
HOME POINT FINANCIAL CORPORATION 35 2.62% $5,301
Barrington Bank & Trust Company, N.A. 35 2.83% $4,691
PLAZA HOME MORTGAGE, INC. 32 2.74% $7,160
First Guaranty Mortgage Corporation 29 2.68% $5,025
MOVEMENT MORTGAGE, LLC 25 2.87% $6,443
NEWREZ LLC 25 2.52% $5,320
Low VA Rates, LLC 24 2.38% $3,938
The Federal Savings Bank 23 2.61% $10,653
PENTAGON FEDERAL CREDIT UNION 20 2.33% $3,865
GUARANTEED RATE, INC. 20 2.70% $5,573
Mid-Continent Funding, Inc. 19 2.98% $6,845
Carrington Mortgage Services, LLC 18 2.75% $6,206
CROSSCOUNTRY MORTGAGE, LLC 18 2.66% $6,629
AMERICAN FINANCIAL NETWORK, INC. 18 2.55% $9,182
EMM LOANS LLC 16 2.81% $4,457
Union Savings Bank 16 2.43% $3,152
PNC Bank 15 2.97% $5,926
FBC MORTGAGE, LLC 15 2.59% $11,571
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 14 2.97% $6,758
BROKER SOLUTIONS, INC. 12 2.69% $7,486
Flagstar Bank, FSB 11 2.91% $8,568
Dollar Bank, Federal Savings Bank 11 2.87% $5,553
PLANET HOME LENDING, LLC 10 2.51% $4,942
North American Savings Bank, F.S.B. 10 2.40% $8,299
RELIANCE FIRST CAPITAL, LLC 9 2.65% $10,238
ACCELERATE MORTGAGE, LLC 9 2.39% $10,142
U.S. Bank 9 2.47% $10,426
AMERICAN FINANCING CORPORATION 9 2.63% $5,221
HOMEBRIDGE FINANCIAL SERVICES, INC. 9 2.42% $6,769
Nations Lending Corporation 9 3.06% $10,860
AMERISAVE MORTGAGE CORPORATION 9 2.83% $6,703
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 2.91% $5,220
First Federal Bank 8 3.54% $7,764
Princeton Mortgage Corporation 8 2.95% $6,629
NBKC BANK 7 2.50% $5,351
Gateway First Bank 7 3.39% $3,568
STEARNS LENDING, LLC 7 2.73% $7,525
Sail Mortgage Corp. 7 2.46% $8,899
DEVELOPER'S MORTGAGE COMPANY 7 2.66% $6,600
InterContinental Capital Group, Inc 7 2.57% $6,898
MUTUAL OF OMAHA MORTGAGE, INC. 7 2.61% $5,630
Prosperity Home Mortgage, LLC 7 2.71% $6,285
Lakeview Community Capital, LLC 7 2.78% $3,419
TOWNE MORTGAGE COMPANY 7 2.75% $7,957
ALLIED MORTGAGE GROUP, INC. 6 2.85% $8,566
SOVEREIGN LENDING GROUP INCORPORATED 6 2.60% $6,396
First Commonwealth Bank 6 2.39% $7,462
Magnolia Bank 6 2.65% $7,444
RESIDENTIAL MORTGAGE SERVICES, INC. 6 2.77% $4,395
LOANPAL, LLC 6 2.50% $8,393
HOMESIDE FINANCIAL, LLC 5 2.75% $7,309
First National Bank of Pennsylvania 5 2.88% $5,038
CHURCHILL MORTGAGE CORPORATION 5 3.03% $9,441
BNC National Bank 5 2.23% $4,825
NP, Inc. 5 2.30% $5,950
Armed Forces Bank 4 2.50% $3,181
GSF Mortgage Corporation 4 2.97% $7,983
WesBanco Bank, Inc. 4 2.75% $9,241
Manufacturers and Traders Trust Company 4 2.75% $5,189
Paramount Residential Mortgage Group, Inc. 4 3.44% $8,124
CONTOUR MORTGAGE CORPORATION 4 2.53% $8,284
FIRST COMMUNITY MORTGAGE, INC. 4 2.66% $6,604
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 2.90% $4,186
TJC Mortgage, Inc. 4 2.31% $6,204
SUN WEST MORTGAGE COMPANY, INC. 4 2.59% $3,823
FINANCE OF AMERICA MORTGAGE LLC 3 2.46% $9,449
Truist Bank 3 2.75% $3,350
AmeriHome Mortgage Company, LLC 3 2.63% $4,718
EVANSVILLE TEACHERS 3 2.92% $5,757
Bank of England 3 2.46% $5,379
NORWICH COMMERCIAL GROUP, INC. 3 3.08% $8,814
Paramount Bank 3 2.63% $5,974
FIRST HOME MORTGAGE CORPORATION 3 2.58% $2,099
Wyndham Capital Mortgage, Inc. 2 2.38% $8,363
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.50% $11,621
ASSOCIATED MORTGAGE BANKERS, INC. 2 2.94% $10,274
Capital Bank 2 2.38% $4,105
CMG MORTGAGE, INC. 2 2.25% $7,653
Fifth Third Bank 2 2.81% $4,323
First Home Bank 2 3.13% $4,740
GUILD MORTGAGE COMPANY 2 2.81% $10,356
MICHIGAN MUTUAL, INC. 2 3.00% $6,376
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 2.94% $6,636
NATIONS DIRECT MORTGAGE, LLC 2 3.25% $11,279
NATIONWIDE MORTGAGE BANKERS, INC. 2 2.88% $6,463
NJ LENDERS CORP. 2 2.63% $5,726
OCMBC, INC. 2 2.50% $5,590
Patriot Lending Services, Inc. 2 3.13% $4,970
Strong Home Mortgage, LLC 2 2.75% $14,486
Towne Bank 2 2.81% $17,822
US MORTGAGE CORPORATION 2 2.56% $4,194
MILEND, INC. 1 3.88% $16,930
Meridian Bank Corporation 1 2.25% $6,555
LIBERTY HOME MORTGAGE CORPORATION 1 2.25% $7,247
LENOX FINANCIAL MORTGAGE CORPORATION 1 2.88% $8,701
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.50% $9,312
LEADERONE FINANCIAL CORPORATION 1 2.75% $6,675
KS StateBank 1 2.25% $10,216
KINECTA 1 2.75% $6,576
KeyBank 1 2.88% $7,445
JPMorgan Chase Bank 1 3.00% $0
RESIDENTIAL HOME FUNDING CORP. 1 2.25% $15,412
Hometown Lenders, Inc. 1 3.75% $4,196
ROSS MORTGAGE CORPORATION 1 2.75% $16,020
ROYAL UNITED MORTGAGE LLC 1 2.75% $2,335
RUOFF MORTGAGE COMPANY, INC. 1 2.88% $60
HomePromise Corporation 1 3.50% $9,281
Service Federal Credit Union 1 2.88% $3,160
First Savings Bank 1 3.25% $8,286
First Mortgage Solutions, LLC 1 2.25% $3,293
Stifel Bank and Trust 1 2.38% $4,040
AMCAP MORTGAGE, LTD. 1 2.88% $12,669
First Internet Bank of Indiana 1 2.25% $2,643
TD Bank 1 2.88% $2,940
Equity Prime Mortgage LLC 1 3.38% $3,683
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 2.63% $4,649
TIAA, FSB 1 2.25% $19,942
CHERRY CREEK MORTGAGE, LLC 1 2.25% $1,745
Alcova Mortgage LLC 1 2.25% $4,925
Century Mortgage Company DBA Century Lending Company 1 2.88% $9,426
CELEBRITY HOME LOANS, LLC 1 2.50% $6,050
CBM Mortgage, Inc. 1 3.25% $6,998
Blue Ridge Bank 1 2.88% $6,699
United Bank 1 2.38% $2,361
UNITED SECURITY FINANCIAL CORP 1 1.88% $5,503
BAY CAPITAL MORTGAGE CORPORATION 1 2.25% $3,326
Bank of America 1 2.63% $18,033
Assurance Financial Group, L.L.C. 1 2.38% $5,199
1ST FINANCIAL, INC. 1 2.50% $2,209
ARC HOME LLC 1 2.99% $5,863
APEX HOME LOANS, INC. 1 2.25% $5,420
Watermark Capital, Inc. 1 2.50% $2,941
Waterstone Mortgage Corporation 1 2.88% $3,976
Network Funding, L.P. 1 2.75% $26,528
NETWORK CAPITAL FUNDING CORPORATION 1 2.25% $3,571
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.75% $13,168
MORTGAGE ACCESS CORP. 1 2.75% $19,666

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 for 2022-04-01 was $229,000, a difference of $-38,450 (-14.4%) versus the prior year and $6,500 versus the prior month.

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 listing age (time on market) for 2022-04-01 was 42 days. This is -3% shorter than the same period one year ago.

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.

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.