Provo VA Loan Rates, Closing Costs & Stats

PROVO-OREM, UT

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    • 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.

    Provo's 63 lenders originated 439 VA loans during 2023. The total origination value was $227,855,000, with an average VA loan value of $519,032.

    Provo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Provo averaged -0.09% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Provo's average VA mortgage closing costs are $7,805.

    The average rate for the prior week (2024-11-08) was 6.02% and one month ago for the week of 2024-10-11, the average rate was 5.78%.

    The average rate one year ago was 6.97%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.29%.

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

    Provo 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 Provo level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 97 6.08% $10,996
    Mortgage Research Center, LLC 24 6.29% $7,410
    FIRST COLONY MORTGAGE CORPORATION 23 5.92% $8,851
    DHI MORTGAGE COMPANY, LTD. 22 5.86% $8,861
    INTERCAP LENDING INC. 21 6.35% $8,058
    QUICKEN LOANS, LLC 14 5.79% $15,448
    The Federal Savings Bank 11 6.41% $29,360
    ACADEMY MORTGAGE CORPORATION 11 6.35% $12,854
    SECURITY HOME MORTGAGE, LLC. 10 6.40% $9,212
    INSPIRE HOME LOANS INC. 10 5.34% $10,801
    CROSSCOUNTRY MORTGAGE, LLC 10 6.83% $11,545
    PENNYMAC LOAN SERVICES, LLC 9 6.13% $12,701
    NEST HOME LENDING, LLC 8 5.41% $9,700
    EAGLE HOME MORTGAGE, LLC 8 5.12% $9,135
    Plains Commerce Bank 7 5.96% $13,138
    FREEDOM MORTGAGE CORPORATION 7 6.52% $25,931
    NEWREZ LLC 7 6.04% $10,519
    LOANDEPOT.COM, LLC 7 5.71% $15,536
    VERITAS FUNDING, LLC 6 5.79% $10,953
    HOMEAMERICAN MORTGAGE CORPORATION 6 5.21% $4,343
    VILLAGE CAPITAL MORTGAGE 6 5.92% $11,919
    SECURITYNATIONAL MORTGAGE COMPANY 6 6.25% $19,102
    Century Mortgage Company DBA Century Lending Company 6 6.60% $9,581
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 6.33% $13,235
    NAVY FEDERAL CREDIT UNION 5 6.00% $6,528
    Northpointe Bank 4 5.97% $3,711
    USAA Federal Savings Bank 4 6.75% $4,318
    NBKC BANK 4 5.41% $8,398
    AXIA FINANCIAL, LLC 4 6.09% $17,783
    BROKER SOLUTIONS, INC. 4 6.66% $12,861
    Barrington Bank & Trust Company, N.A. 3 5.83% $22,339
    CANOPY MORTGAGE, LLC 3 6.42% $10,864
    DIRECT MORTGAGE, CORP. 3 5.92% $25,647
    CARDINAL FINANCIAL 3 6.17% $20,302
    MY MOVE MORTGAGE, LLC 3 5.75% $11,304
    Wells Fargo Bank 2 5.00% $2,226
    CASTLE & COOKE MORTGAGE, LLC 2 6.19% $15,127
    CITYWIDE HOME LOANS, LLC 2 5.93% $9,500
    GUARANTEED RATE, INC. 2 5.69% $1,820
    GUILD MORTGAGE COMPANY 2 6.63% $18,662
    MORTGAGEONE, INC. 2 7.00% $10,674
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.63% $22,514
    Paramount Residential Mortgage Group, Inc. 2 6.44% $7,675
    SUN WEST MORTGAGE COMPANY, INC. 2 6.00% $15,137
    CALCON MUTUAL MORTGAGE LLC 1 5.75% $4,759
    MOUNTAIN AMERICA 1 6.49% $23,013
    Magnolia Bank 1 6.25% $31,937
    PLANET HOME LENDING, LLC 1 7.13% $2,683
    JPMorgan Chase Bank 1 6.88% $0
    RANLIFE, INC. 1 6.75% $13,014
    GUARANTEED RATE AFFINITY, LLC 1 6.75% $11,437
    GoPrime Mortgage, Inc. 1 6.75% $3,445
    Sierra Pacific Mortgage Company, Inc. 1 5.63% $8,190
    AMERICAN FINANCIAL NETWORK, INC. 1 5.88% $9,457
    TBI MORTGAGE COMPANY 1 6.63% $3,997
    The Central Trust Bank 1 5.13% $2,851
    GOLDENWEST 1 6.88% $9,344
    Flagstar Bank, FSB 1 7.23% $5,123
    First Federal Bank 1 6.50% $2,563
    U.S. Bank 1 7.63% $8,041
    Cornerstone First Mortgage, Inc 1 5.25% $64,557
    NATIONS RELIABLE LENDING, LLC 1 6.13% $0
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $11,869

    The top Provo VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 97 VA loans originated. Their average total fees are $10,996, which is $3,586 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Provo VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,410), INTERCAP LENDING INC. ($8,058), FIRST COLONY MORTGAGE CORPORATION ($8,851), DHI MORTGAGE COMPANY, LTD. ($8,861) and SECURITY HOME MORTGAGE, LLC. ($9,212).

    The lowest rate Provo VA lenders (with over 10 loans originated) are INSPIRE HOME LOANS INC. (5.34%), QUICKEN LOANS, LLC (5.79%), DHI MORTGAGE COMPANY, LTD. (5.86%), FIRST COLONY MORTGAGE CORPORATION (5.92%) and UNITED WHOLESALE MORTGAGE, LLC (6.08%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Provo (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 $370,411 (7.6%) $523,530 (5.2%) 1.37 1,467
    2018-02-01 $383,425 (8.8%) $532,133 (4.0%) 1.39 1,406
    2018-03-01 $393,000 (7.7%) $541,100 (2.5%) 1.38 1,402
    2018-04-01 $395,090 (5.4%) $549,307 (2.3%) 1.34 1,512
    2018-05-01 $398,950 (7.9%) $545,852 (2.1%) 1.33 1,678
    2018-06-01 $399,810 (6.9%) $534,017 (0.5%) 1.33 1,911
    2018-07-01 $398,900 (7.5%) $532,606 (3.4%) 1.33 1,923
    2018-08-01 $398,238 (10.1%) $529,346 (5.4%) 1.33 2,006
    2018-09-01 $389,950 (6.9%) $520,414 (5.6%) 1.31 2,091
    2018-10-01 $387,055 (6.1%) $505,724 (0.8%) 1.31 2,291
    2018-11-01 $380,975 (3.6%) $499,779 (-2.6%) 1.29 2,321
    2018-12-01 $379,900 (3.0%) $494,576 (-4.2%) 1.31 2,218
    2019-01-01 $381,400 (3.0%) $481,203 (-8.1%) 1.32 2,056
    2019-02-01 $387,089 (1.0%) $477,634 (-10.2%) 1.31 2,028
    2019-03-01 $395,843 (0.7%) $493,139 (-8.9%) 1.29 2,052
    2019-04-01 $401,343 (1.6%) $513,318 (-6.6%) 1.27 2,101
    2019-05-01 $399,000 (0.0%) $517,419 (-5.2%) 1.25 2,181
    2019-06-01 $399,990 (0.1%) $526,718 (-1.4%) 1.25 2,278
    2019-07-01 $407,220 (2.1%) $532,661 (0.0%) 1.27 2,311
    2019-08-01 $405,027 (1.7%) $527,571 (-0.3%) 1.28 2,305
    2019-09-01 $402,143 (3.1%) $521,785 (0.3%) 1.29 2,285
    2019-10-01 $397,875 (2.8%) $512,963 (1.4%) 1.28 2,272
    2019-11-01 $395,155 (3.7%) $514,908 (3.0%) 1.30 2,009
    2019-12-01 $399,797 (5.2%) $526,964 (6.6%) 1.33 1,792
    2020-01-01 $409,106 (7.3%) $526,596 (9.4%) 1.37 1,634
    2020-02-01 $429,000 (10.8%) $549,361 (15.0%) 1.40 1,401
    2020-03-01 $430,925 (8.9%) $560,647 (13.7%) 1.35 1,449
    2020-04-01 $416,468 (3.8%) $510,586 (-0.5%) 1.30 1,834
    2020-05-01 $426,990 (7.0%) $545,307 (5.4%) 1.30 1,726
    2020-06-01 $438,710 (9.7%) $583,858 (10.9%) 1.29 1,421
    2020-07-01 $453,433 (11.4%) $607,531 (14.1%) 1.31 1,176
    2020-08-01 $470,495 (16.2%) $665,741 (26.2%) 1.35 1,015
    2020-09-01 $495,490 (23.2%) $703,359 (34.8%) 1.42 871
    2020-10-01 $504,995 (26.9%) $814,567 (58.8%) 1.45 708
    2020-11-01 $522,475 (32.2%) $898,995 (74.6%) 1.53 581
    2020-12-01 $545,745 (36.5%) $917,466 (74.1%) 1.62 500
    2021-01-01 $534,444 (30.6%) $978,869 (85.9%) 1.60 404
    2021-02-01 $529,950 (23.5%) $1,085,859 (97.7%) 1.54 310
    2021-03-01 $510,425 (18.5%) $1,025,177 (82.9%) 1.45 357
    2021-04-01 $541,750 (30.1%) $1,015,124 (98.8%) 1.47 436
    2021-05-01 $550,000 (28.8%) $957,815 (75.7%) 1.46 550
    2021-06-01 $547,450 (24.8%) $887,914 (52.1%) 1.44 712
    2021-07-01 $544,950 (20.2%) $839,987 (38.3%) 1.44 851
    2021-08-01 $550,575 (17.0%) $855,893 (28.6%) 1.47 879
    2021-09-01 $537,119 (8.4%) $838,551 (19.2%) 1.43 913
    2021-10-01 $539,900 (6.9%) $861,239 (5.7%) 1.44 847
    2021-11-01 $546,950 (4.7%) $891,802 (-0.8%) 1.46 753
    2021-12-01 $559,675 (2.6%) $953,207 (3.9%) 1.52 582
    2022-01-01 $559,450 (4.7%) $943,434 (-3.6%) 1.51 469
    2022-02-01 $590,000 (11.3%) $1,014,800 (-6.5%) 1.53 428
    2022-03-01 $592,238 (16.0%) $964,803 (-5.9%) 1.48 462
    2022-04-01 $619,000 (14.3%) $968,049 (-4.6%) 1.48 678
    2022-05-01 $617,400 (12.3%) $855,307 (-10.7%) 1.41 1,232
    2022-06-01 $608,789 (11.2%) $824,474 (-7.1%) 1.36 1,700
    2022-07-01 $589,900 (8.3%) $791,646 (-5.8%) 1.33 2,169
    2022-08-01 $571,915 (3.9%) $757,555 (-11.5%) 1.32 2,326
    2022-09-01 $558,015 (3.9%) $742,636 (-11.4%) 1.30 2,351
    2022-10-01 $549,900 (1.9%) $747,324 (-13.2%) 1.29 2,419
    2022-11-01 $549,900 (0.5%) $747,133 (-16.2%) 1.32 2,289
    2022-12-01 $550,000 (-1.7%) $747,637 (-21.6%) 1.36 2,070
    2023-01-01 $561,560 (0.4%) $762,957 (-19.1%) 1.39 1,722
    2023-02-01 $554,950 (-5.9%) $780,639 (-23.1%) 1.34 1,518
    2023-03-01 $574,995 (-2.9%) $808,090 (-16.2%) 1.36 1,409
    2023-04-01 $589,443 (-4.8%) $822,619 (-15.0%) 1.37 1,357
    2023-05-01 $599,997 (-2.8%) $829,175 (-3.1%) 1.36 1,430
    2023-06-01 $599,450 (-1.5%) $839,871 (1.9%) 1.35 1,553
    2023-07-01 $599,990 (1.7%) $859,701 (8.6%) 1.36 1,616
    2023-08-01 $591,675 (3.5%) $839,796 (10.9%) 1.36 1,747
    2023-09-01 $579,900 (3.9%) $826,947 (11.4%) 1.35 1,851
    2023-10-01 $569,188 (3.5%) $813,483 (8.9%) 1.34 1,842
    2023-11-01 $573,986 (4.4%) $832,263 (11.4%) 1.37 1,776
    2023-12-01 $569,990 (3.6%) $842,343 (12.7%) 1.39 1,535
    2024-01-01 $574,650 (2.3%) $834,235 (9.3%) 1.40 1,378
    2024-02-01 $571,145 (2.9%) $816,762 (4.6%) 1.37 1,360
    2024-03-01 $569,999 (-0.9%) $804,696 (-0.4%) 1.34 1,415
    2024-04-01 $588,900 (-0.1%) $840,829 (2.2%) 1.37 1,557
    2024-05-01 $595,500 (-0.8%) $835,289 (0.7%) 1.35 1,849
    2024-06-01 $590,000 (-1.6%) $826,572 (-1.6%) 1.33 2,048
    2024-07-01 $586,725 (-2.2%) $806,996 (-6.1%) 1.34 2,316
    2024-08-01 $576,900 (-2.5%) $793,874 (-5.5%) 1.34 2,292
    2024-09-01 $592,450 (2.2%) $802,608 (-2.9%) 1.39 2,407
    2024-10-01 $587,450 (3.2%) $801,584 (-1.5%) 1.38 2,381
    Provo's median listing price for 2024-10-01 was $587,450, a difference of $18,262 (3.2%) versus the prior year and $-5,000 versus the prior month.

    Provo's median listing price comes in at 138% of the national average.

    Provo's average listing price for 2024-10-01 was $801,584, a difference of $-11,899 (-1.5%) versus the prior year and $-1,024 versus the prior month.

    For the 2024-10-01 period, Provo had 2,381 MLS listings, a difference of -26 listings (-1%) versus the prior month and 539 listings (29%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Provo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 49 days 3,387 sqft
    2018-02-01 48 days 3,443 sqft
    2018-03-01 26 days 3,467 sqft
    2018-04-01 32 days 3,483 sqft
    2018-05-01 31 days 3,463 sqft
    2018-06-01 32 days 3,423 sqft
    2018-07-01 31 days 3,431 sqft
    2018-08-01 32 days 3,400 sqft
    2018-09-01 43 days 3,340 sqft
    2018-10-01 41 days 3,319 sqft
    2018-11-01 41 days 3,282 sqft
    2018-12-01 54 days 3,259 sqft
    2019-01-01 56 days 3,251 sqft
    2019-02-01 51 days 3,260 sqft
    2019-03-01 47 days 3,307 sqft
    2019-04-01 44 days 3,334 sqft
    2019-05-01 41 days 3,263 sqft
    2019-06-01 44 days 3,250 sqft
    2019-07-01 45 days 3,266 sqft
    2019-08-01 47 days 3,242 sqft
    2019-09-01 50 days 3,215 sqft
    2019-10-01 52 days 3,173 sqft
    2019-11-01 53 days 3,153 sqft
    2019-12-01 56 days 3,169 sqft
    2020-01-01 60 days 3,236 sqft
    2020-02-01 54 days 3,368 sqft
    2020-03-01 45 days 3,302 sqft
    2020-04-01 39 days 3,178 sqft
    2020-05-01 44 days 3,219 sqft
    2020-06-01 46 days 3,273 sqft
    2020-07-01 47 days 3,352 sqft
    2020-08-01 39 days 3,363 sqft
    2020-09-01 30 days 3,387 sqft
    2020-10-01 37 days 3,301 sqft
    2020-11-01 41 days 3,470 sqft
    2020-12-01 44 days 3,556 sqft
    2021-01-01 42 days 3,454 sqft
    2021-02-01 19 days 3,179 sqft
    2021-03-01 7 days 2,965 sqft
    2021-04-01 9 days 3,089 sqft
    2021-05-01 11 days 2,943 sqft
    2021-06-01 15 days 2,961 sqft
    2021-07-01 17 days 2,883 sqft
    2021-08-01 18 days 2,953 sqft
    2021-09-01 22 days 2,846 sqft
    2021-10-01 24 days 2,702 sqft
    2021-11-01 24 days 2,815 sqft
    2021-12-01 41 days 2,912 sqft
    2022-01-01 47 days 3,008 sqft
    2022-02-01 29 days 2,958 sqft
    2022-03-01 25 days 2,846 sqft
    2022-04-01 23 days 2,898 sqft
    2022-05-01 20 days 2,858 sqft
    2022-06-01 29 days 2,896 sqft
    2022-07-01 38 days 2,798 sqft
    2022-08-01 46 days 2,751 sqft
    2022-09-01 51 days 2,693 sqft
    2022-10-01 58 days 2,714 sqft
    2022-11-01 71 days 2,731 sqft
    2022-12-01 86 days 2,773 sqft
    2023-01-01 89 days 2,844 sqft
    2023-02-01 86 days 2,824 sqft
    2023-03-01 58 days 2,935 sqft
    2023-04-01 55 days 3,019 sqft
    2023-05-01 45 days 3,103 sqft
    2023-06-01 41 days 3,028 sqft
    2023-07-01 47 days 3,100 sqft
    2023-08-01 45 days 2,994 sqft
    2023-09-01 46 days 2,964 sqft
    2023-10-01 57 days 2,864 sqft
    2023-11-01 59 days 2,913 sqft
    2023-12-01 67 days 2,854 sqft
    2024-01-01 66 days 2,821 sqft
    2024-02-01 52 days 2,835 sqft
    2024-03-01 49 days 2,812 sqft
    2024-04-01 40 days 2,917 sqft
    2024-05-01 34 days 2,945 sqft
    2024-06-01 42 days 2,896 sqft
    2024-07-01 51 days 2,868 sqft
    2024-08-01 57 days 2,863 sqft
    2024-09-01 60 days 2,926 sqft
    2024-10-01 62 days 2,906 sqft
    Provo's median listing age (time on market) for 2024-10-01 was 62 days. This is 9% longer than the same period one year ago.

    Provo's median square footage for active listings during the 2024-10-01 period was 2,906 sqft. One year prior, the average listing was 2,864 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.