Reno VA Loan Rates, Closing Costs & Stats
RENO, NV
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.
Reno's 106 lenders originated 907 VA loans during 2022. The total origination value was $429,495,000, with an average VA loan value of $473,534.
Reno VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Reno
averaged
6.29%
for the week of 2023-09-22, compared to the national average (all VA variants) of
6.823% for the same period.
Reno's average VA mortgage closing costs are $7,633.
The average rate for the prior week (2023-09-15) was
6.27% and
one month ago for the week of 2023-08-18, the
average rate was 6.55%.
The average rate one year ago was 5.62%.
For refis of the same type during the week of 2023-09-22, the average rate
was 5.25%.
Reno 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 Reno level.
The top Reno VA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with
94 VA loans originated. Their average total fees are
$15,478, which is $3,311
higher than the next largest lender,
Mortgage Research Center, LLC.
The lowest fee Reno VA lenders (with over 10 loans originated) are
BROKER SOLUTIONS, INC. ($8,512), DHI MORTGAGE COMPANY, LTD. ($8,626), Hometown Lenders, Inc. ($9,390), NAVY FEDERAL CREDIT UNION ($10,754) and Northpointe Bank ($11,131).
The lowest rate Reno VA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (3.14%), NAVY FEDERAL CREDIT UNION (3.48%), CLEARPATH LENDING (3.58%), The Federal Savings Bank (3.60%) and LOANDEPOT.COM, LLC (3.62%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Reno (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $487,175 (13.2%) | $1,196,170 (36.7%) | 1.81 | 804 |
2018-02-01 | $490,009 (12.0%) | $1,196,764 (32.2%) | 1.78 | 774 |
2018-03-01 | $498,248 (15.1%) | $1,140,870 (29.5%) | 1.75 | 781 |
2018-04-01 | $516,782 (18.8%) | $1,134,098 (29.8%) | 1.75 | 859 |
2018-05-01 | $487,000 (8.9%) | $1,057,689 (20.9%) | 1.63 | 974 |
2018-06-01 | $480,000 (6.3%) | $1,024,597 (17.1%) | 1.60 | 1,087 |
2018-07-01 | $469,000 (-0.2%) | $967,089 (-0.9%) | 1.57 | 1,388 |
2018-08-01 | $450,000 (-1.9%) | $924,927 (-2.7%) | 1.51 | 1,588 |
2018-09-01 | $449,000 (-6.3%) | $891,702 (-9.0%) | 1.51 | 1,715 |
2018-10-01 | $429,450 (-8.5%) | $856,172 (-13.5%) | 1.45 | 1,805 |
2018-11-01 | $426,450 (-12.5%) | $858,402 (-17.1%) | 1.45 | 1,744 |
2018-12-01 | $424,000 (-13.5%) | $861,306 (-20.1%) | 1.46 | 1,639 |
2019-01-01 | $427,450 (-12.3%) | $911,122 (-23.8%) | 1.48 | 1,429 |
2019-02-01 | $433,633 (-11.5%) | $953,502 (-20.3%) | 1.47 | 1,312 |
2019-03-01 | $450,657 (-9.6%) | $970,631 (-14.9%) | 1.47 | 1,259 |
2019-04-01 | $460,706 (-10.9%) | $968,672 (-14.6%) | 1.46 | 1,260 |
2019-05-01 | $456,175 (-6.3%) | $921,588 (-12.9%) | 1.43 | 1,460 |
2019-06-01 | $472,000 (-1.7%) | $911,295 (-11.1%) | 1.48 | 1,628 |
2019-07-01 | $472,995 (0.9%) | $912,555 (-5.6%) | 1.48 | 1,787 |
2019-08-01 | $467,909 (4.0%) | $920,805 (-0.5%) | 1.48 | 1,803 |
2019-09-01 | $466,273 (3.9%) | $936,520 (5.0%) | 1.49 | 1,741 |
2019-10-01 | $465,000 (8.3%) | $960,844 (12.2%) | 1.50 | 1,673 |
2019-11-01 | $465,000 (9.0%) | $1,009,062 (17.6%) | 1.52 | 1,482 |
2019-12-01 | $472,450 (11.4%) | $1,078,793 (25.3%) | 1.58 | 1,231 |
2020-01-01 | $482,500 (12.9%) | $1,143,452 (25.5%) | 1.61 | 1,053 |
2020-02-01 | $519,998 (19.9%) | $1,246,107 (30.7%) | 1.70 | 889 |
2020-03-01 | $511,998 (13.6%) | $1,214,927 (25.2%) | 1.61 | 921 |
2020-04-01 | $486,500 (5.6%) | $1,066,206 (10.1%) | 1.52 | 1,147 |
2020-05-01 | $499,000 (9.4%) | $1,081,153 (17.3%) | 1.52 | 1,165 |
2020-06-01 | $543,688 (15.2%) | $1,223,830 (34.3%) | 1.60 | 1,050 |
2020-07-01 | $559,391 (18.3%) | $1,075,399 (17.8%) | 1.62 | 904 |
2020-08-01 | $549,000 (17.3%) | $1,077,319 (17.0%) | 1.57 | 812 |
2020-09-01 | $567,500 (21.7%) | $1,091,928 (16.6%) | 1.63 | 728 |
2020-10-01 | $559,927 (20.4%) | $1,206,204 (25.5%) | 1.60 | 646 |
2020-11-01 | $539,596 (16.0%) | $1,198,750 (18.8%) | 1.58 | 518 |
2020-12-01 | $554,250 (17.3%) | $1,232,422 (14.2%) | 1.65 | 411 |
2021-01-01 | $564,800 (17.1%) | $1,213,275 (6.1%) | 1.69 | 362 |
2021-02-01 | $518,450 (-0.3%) | $1,039,891 (-16.6%) | 1.51 | 317 |
2021-03-01 | $501,250 (-2.1%) | $1,064,944 (-12.4%) | 1.42 | 354 |
2021-04-01 | $509,375 (4.7%) | $907,368 (-14.9%) | 1.38 | 569 |
2021-05-01 | $546,944 (9.6%) | $986,884 (-8.7%) | 1.45 | 427 |
2021-06-01 | $585,000 (7.6%) | $1,051,873 (-14.1%) | 1.54 | 436 |
2021-07-01 | $600,000 (7.3%) | $1,071,346 (-0.4%) | 1.58 | 561 |
2021-08-01 | $599,900 (9.3%) | $1,117,461 (3.7%) | 1.60 | 680 |
2021-09-01 | $599,674 (5.7%) | $1,111,676 (1.8%) | 1.60 | 767 |
2021-10-01 | $625,000 (11.6%) | $1,124,207 (-6.8%) | 1.67 | 759 |
2021-11-01 | $626,950 (16.2%) | $1,176,436 (-1.9%) | 1.68 | 648 |
2021-12-01 | $627,475 (13.2%) | $1,213,272 (-1.6%) | 1.70 | 471 |
2022-01-01 | $645,000 (14.2%) | $1,322,996 (9.0%) | 1.74 | 380 |
2022-02-01 | $649,850 (25.3%) | $1,417,939 (36.4%) | 1.69 | 348 |
2022-03-01 | $645,000 (28.7%) | $1,417,150 (33.1%) | 1.61 | 393 |
2022-04-01 | $689,900 (35.4%) | $1,255,363 (38.4%) | 1.64 | 561 |
2022-05-01 | $685,474 (25.3%) | $1,207,958 (22.4%) | 1.57 | 860 |
2022-06-01 | $672,750 (15.0%) | $1,179,356 (12.1%) | 1.50 | 1,282 |
2022-07-01 | $640,000 (6.7%) | $1,116,661 (4.2%) | 1.44 | 1,586 |
2022-08-01 | $632,500 (5.4%) | $1,089,458 (-2.5%) | 1.46 | 1,659 |
2022-09-01 | $624,973 (4.2%) | $1,072,204 (-3.6%) | 1.46 | 1,606 |
2022-10-01 | $599,997 (-4.0%) | $1,078,809 (-4.0%) | 1.41 | 1,601 |
2022-11-01 | $599,900 (-4.3%) | $1,121,276 (-4.7%) | 1.44 | 1,444 |
2022-12-01 | $599,999 (-4.4%) | $1,156,128 (-4.7%) | 1.48 | 1,176 |
2023-01-01 | $617,000 (-4.3%) | $1,182,809 (-10.6%) | 1.53 | 956 |
2023-02-01 | $630,000 (-3.1%) | $1,252,541 (-11.7%) | 1.52 | 789 |
2023-03-01 | $647,450 (0.4%) | $1,235,410 (-12.8%) | 1.53 | 719 |
2023-04-01 | $675,000 (-2.2%) | $1,254,276 (-0.1%) | 1.57 | 697 |
2023-05-01 | $683,750 (-0.3%) | $1,282,310 (6.2%) | 1.55 | 838 |
2023-06-01 | $689,366 (2.5%) | $1,278,316 (8.4%) | 1.55 | 959 |
2023-07-01 | $699,000 (9.2%) | $1,334,655 (19.5%) | 1.59 | 1,034 |
2023-08-01 | $699,500 (10.6%) | $1,352,870 (24.2%) | 1.61 | 1,067 |
Reno's median listing price comes in at 161% of the national average.
Reno's average listing price for 2023-08-01 was $1,352,870, a difference of $263,412 (24.2%) versus the prior year and $18,215 versus the prior month.
For the 2023-08-01 period, Reno had 1,067 MLS listings, a difference of 33 listings (3%) versus the prior month and -592 listings (-36%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Reno (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 73 days | 2,355 sqft |
2018-02-01 | 50 days | 2,329 sqft |
2018-03-01 | 43 days | 2,274 sqft |
2018-04-01 | 43 days | 2,319 sqft |
2018-05-01 | 36 days | 2,147 sqft |
2018-06-01 | 37 days | 2,128 sqft |
2018-07-01 | 37 days | 2,110 sqft |
2018-08-01 | 40 days | 2,084 sqft |
2018-09-01 | 45 days | 2,076 sqft |
2018-10-01 | 52 days | 2,030 sqft |
2018-11-01 | 59 days | 2,009 sqft |
2018-12-01 | 71 days | 2,010 sqft |
2019-01-01 | 78 days | 1,989 sqft |
2019-02-01 | 71 days | 2,020 sqft |
2019-03-01 | 58 days | 2,079 sqft |
2019-04-01 | 44 days | 2,138 sqft |
2019-05-01 | 38 days | 2,111 sqft |
2019-06-01 | 41 days | 2,158 sqft |
2019-07-01 | 44 days | 2,131 sqft |
2019-08-01 | 48 days | 2,120 sqft |
2019-09-01 | 54 days | 2,148 sqft |
2019-10-01 | 59 days | 2,164 sqft |
2019-11-01 | 65 days | 2,129 sqft |
2019-12-01 | 72 days | 2,186 sqft |
2020-01-01 | 75 days | 2,194 sqft |
2020-02-01 | 58 days | 2,293 sqft |
2020-03-01 | 37 days | 2,195 sqft |
2020-04-01 | 40 days | 2,118 sqft |
2020-05-01 | 43 days | 2,191 sqft |
2020-06-01 | 44 days | 2,290 sqft |
2020-07-01 | 43 days | 2,307 sqft |
2020-08-01 | 41 days | 2,204 sqft |
2020-09-01 | 32 days | 2,220 sqft |
2020-10-01 | 43 days | 2,160 sqft |
2020-11-01 | 48 days | 2,096 sqft |
2020-12-01 | 55 days | 2,103 sqft |
2021-01-01 | 50 days | 2,100 sqft |
2021-02-01 | 34 days | 1,932 sqft |
2021-03-01 | 18 days | 1,868 sqft |
2021-04-01 | 17 days | 1,849 sqft |
2021-05-01 | 25 days | 1,868 sqft |
2021-06-01 | 29 days | 1,930 sqft |
2021-07-01 | 28 days | 2,011 sqft |
2021-08-01 | 30 days | 2,000 sqft |
2021-09-01 | 32 days | 1,947 sqft |
2021-10-01 | 37 days | 2,085 sqft |
2021-11-01 | 41 days | 2,039 sqft |
2021-12-01 | 50 days | 2,030 sqft |
2022-01-01 | 52 days | 2,024 sqft |
2022-02-01 | 32 days | 2,018 sqft |
2022-03-01 | 26 days | 2,008 sqft |
2022-04-01 | 25 days | 2,106 sqft |
2022-05-01 | 25 days | 2,071 sqft |
2022-06-01 | 29 days | 2,066 sqft |
2022-07-01 | 36 days | 2,029 sqft |
2022-08-01 | 49 days | 2,034 sqft |
2022-09-01 | 58 days | 2,024 sqft |
2022-10-01 | 61 days | 2,016 sqft |
2022-11-01 | 68 days | 2,019 sqft |
2022-12-01 | 81 days | 2,015 sqft |
2023-01-01 | 92 days | 2,024 sqft |
2023-02-01 | 85 days | 2,030 sqft |
2023-03-01 | 59 days | 2,064 sqft |
2023-04-01 | 44 days | 2,161 sqft |
2023-05-01 | 37 days | 2,165 sqft |
2023-06-01 | 38 days | 2,177 sqft |
2023-07-01 | 42 days | 2,229 sqft |
2023-08-01 | 44 days | 2,223 sqft |
Reno's median square footage for active listings during the 2023-08-01 period was 2,223 sqft. One year prior, the average listing was 2,034 sqft.