Richmond VA Loan Rates, Closing Costs & Stats

RICHMOND, VA

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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.

    Richmond's 184 lenders originated 3,498 VA loans during 2022. The total origination value was $1,220,250,000, with an average VA loan value of $348,842.

    Richmond VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Richmond averaged -0.44% for the week of 2023-06-02, compared to the national average (all VA variants) of 0% for the same period.

    Richmond's average VA mortgage closing costs are $6,069.

    The average rate for the prior week (2023-05-26) was 6.29% and one month ago for the week of 2023-04-28, the average rate was 5.65%.

    The average rate one year ago was 4.5%.

    For refis of the same type during the week of 2023-06-02, the average rate was -1.29%.

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

    Richmond 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 Richmond level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 349 5.15% $7,265
    QUICKEN LOANS, LLC 231 4.04% $11,471
    FREEDOM MORTGAGE CORPORATION 187 4.40% $11,281
    NAVY FEDERAL CREDIT UNION 161 3.92% $7,533
    UNITED WHOLESALE MORTGAGE, LLC 159 4.23% $8,897
    NVR Mortgage Finance, Inc. 125 4.00% $6,644
    PENNYMAC LOAN SERVICES, LLC 106 3.37% $9,058
    NEW DAY FINANCIAL, LLC 96 5.04% $12,544
    MOVEMENT MORTGAGE, LLC 82 4.98% $8,416
    USAA Federal Savings Bank 79 4.32% $8,175
    LOANDEPOT.COM, LLC 77 4.12% $12,290
    NFM, INC. 73 4.85% $10,829
    George Mason Mortgage, LLC 72 4.45% $11,050
    CALIBER HOME LOANS, INC. 66 4.43% $9,090
    C & F Mortgage Corporation 62 4.98% $11,941
    Prosperity Home Mortgage, LLC 59 4.43% $9,343
    The Federal Savings Bank 59 4.78% $14,490
    Alcova Mortgage LLC 56 5.09% $8,378
    Presidential Bank, FSB 55 4.80% $11,957
    SOUTHERN TRUST MORTGAGE, LLC 53 4.37% $10,778
    DHI MORTGAGE COMPANY, LTD. 51 3.72% $12,277
    Wells Fargo Bank 41 4.08% $7,330
    VILLAGE BANK MORTGAGE CORPORATION 38 4.59% $7,130
    CAPITAL CENTER, L.L.C. 37 4.13% $6,859
    Mr. Cooper ( Nationstar Mortgage ) 33 4.37% $8,864
    PENTAGON FEDERAL CREDIT UNION 32 3.25% $6,856
    Truist 31 4.50% $9,169
    AMERISAVE MORTGAGE CORPORATION 30 4.10% $15,280
    CROSSCOUNTRY MORTGAGE, LLC 29 5.05% $12,416
    Towne First Mortgage, LLC 27 4.76% $10,323
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 26 5.22% $9,113
    CLEARPATH LENDING 25 4.38% $8,299
    Virginia Credit Union, Inc. 24 4.47% $8,976
    Flagstar Bank, FSB 24 4.41% $10,665
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 21 4.69% $7,729
    NEWREZ LLC 21 4.43% $7,654
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 20 5.15% $8,621
    HOME POINT FINANCIAL CORPORATION 20 3.49% $6,705
    Carrington Mortgage Services, LLC 20 4.08% $9,034
    Tidewater Home Funding, LLC 16 3.93% $12,877
    PRIMELENDING, A PLAINSCAPITAL COMPANY 16 5.10% $12,183
    Towne Bank 15 4.46% $10,695
    EMBRACE HOME LOANS, INC. 14 3.95% $8,823
    MCLEAN MORTGAGE CORPORATION 14 4.19% $6,323
    TIDEWATER MORTGAGE SERVICES, INC. 14 4.71% $9,972
    CMG MORTGAGE, INC. 13 4.86% $11,819
    VILLAGE CAPITAL MORTGAGE 13 3.90% $9,129
    First Heritage Mortgage, LLC 13 5.21% $10,660
    LOANPAL, LLC 13 4.13% $10,873
    FIRST HOME MORTGAGE CORPORATION 13 5.07% $9,949
    BROKER SOLUTIONS, INC. 12 5.06% $10,249
    Ameris Bank 11 4.23% $10,604
    Nations Lending Corporation 11 4.93% $11,200
    GUILD MORTGAGE COMPANY 10 4.39% $10,603
    PLANET HOME LENDING, LLC 10 4.64% $11,668
    MUTUAL OF OMAHA MORTGAGE, INC. 10 4.78% $9,139
    GUARANTEED RATE, INC. 9 4.26% $8,450
    C&F Select LLC 9 4.89% $9,737
    Barrington Bank & Trust Company, N.A. 9 4.38% $10,887
    Integrity Home Mortgage Corp 9 4.93% $9,731
    GENEVA FINANCIAL, LLC 8 4.27% $21,524
    OVM FINANCIAL, INC. 8 4.50% $10,076
    Plains Commerce Bank 8 4.94% $7,739
    Magnolia Bank 8 3.58% $12,270
    UNION HOME MORTGAGE CORP. 8 5.80% $11,639
    GoPrime Mortgage, Inc. 8 5.14% $10,613
    HOMEBRIDGE FINANCIAL SERVICES, INC. 8 4.11% $9,577
    Equity Prime Mortgage LLC 8 5.45% $6,875
    EMM LOANS LLC 7 5.16% $13,374
    BNC National Bank 6 3.50% $5,944
    CARDINAL FINANCIAL 6 5.56% $6,768
    HOMESIDE FINANCIAL, LLC 6 4.54% $7,421
    Wyndham Capital Mortgage, Inc. 5 3.45% $6,232
    Atlantic Coast Mortgage, LLC 5 4.25% $6,699
    Blue Ridge Bank 5 4.13% $21,437
    CERTAINTY HOME LOANS, LLC 5 4.85% $15,018
    LAKEVIEW LOAN SERVICING, LLC 5 4.15% $9,124
    MASON MCDUFFIE MORTGAGE CORPORATION 5 3.73% $9,267
    MID AMERICA MORTGAGE, INC. 5 4.93% $7,665
    Mid-Continent Funding, Inc. 5 4.90% $5,544
    NBKC BANK 5 4.43% $11,136
    North American Savings Bank, F.S.B. 5 4.60% $11,641
    SUN WEST MORTGAGE COMPANY, INC. 5 3.70% $5,716
    Strong Home Mortgage, LLC 4 3.88% $11,622
    RELIANCE FIRST CAPITAL, LLC 4 5.13% $8,781
    Citizens Bank 4 4.41% $6,173
    INTERCOASTAL MORTGAGE COMPANY 4 4.22% $11,321
    MEMBER ADVANTAGE MORTGAGE, LLC 4 4.94% $6,072
    Lakeview Community Capital, LLC 4 3.28% $4,532
    Atlantic Union Bank 4 3.97% $11,500
    DRAPER AND KRAMER MORTGAGE CORP. 3 4.58% $6,397
    TOWNE MORTGAGE COMPANY 3 3.88% $12,058
    Towne Mortgage, LLC 3 4.38% $9,016
    Fifth Third Bank 3 3.29% $3,931
    GUARANTEED RATE AFFINITY, LLC 3 4.39% $8,090
    CHURCHILL MORTGAGE CORPORATION 3 3.71% $24,972
    FINANCE OF AMERICA MORTGAGE LLC 3 4.46% $13,637
    Fulton Bank 3 4.38% $5,963
    First Guaranty Mortgage Corporation 3 2.58% $6,304
    PREMIA MORTGAGE, LLC 3 3.83% $5,468
    MILEND, INC. 3 5.38% $12,308
    Low VA Rates, LLC 3 4.13% $17,499
    U.S. Bank 3 2.88% $8,848
    Bank of America 3 5.25% $3,845
    Assurance Financial Group, L.L.C. 3 4.46% $7,345
    Armed Forces Bank 3 3.54% $4,878
    INTERLINC MORTGAGE SERVICES, LLC 3 4.54% $15,712
    EVERETT FINANCIAL, INC. 2 5.00% $9,375
    CBM Mortgage, Inc. 2 4.13% $10,401
    M&T Bank 2 3.19% $5,192
    JPMorgan Chase Bank 2 5.24% $12,432
    BAY EQUITY LLC 2 5.25% $6,505
    CORNERSTONE HOME LENDING, INC. 2 5.50% $3,771
    Sierra Pacific Mortgage Company, Inc. 2 4.69% $10,063
    NewTowne Mortgage, LLC 2 4.88% $7,880
    CONTOUR MORTGAGE CORPORATION 2 4.50% $7,446
    SOVEREIGN LENDING GROUP INCORPORATED 2 3.13% $17,605
    SUCCESS MORTGAGE PARTNERS, INC. 2 4.56% $6,701
    LEGEND LENDING CORPORATION 2 6.69% $16,339
    SWBC MORTGAGE CORPORATION 2 4.38% $19,867
    Texana Bank 2 3.38% $10,618
    Community First National Bank 2 6.13% $9,817
    Paramount Bank 2 3.81% $12,721
    AmRes Corporation 2 4.94% $18,150
    CityWorth Mortgage LLC 2 4.63% $8,248
    AMERICAN FINANCING CORPORATION 2 3.38% $6,902
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 5.00% $12,298
    FIDELITY DIRECT MORTGAGE, LLC 2 6.25% $4,160
    PLAZA HOME MORTGAGE, INC. 2 5.56% $13,621
    PNC Bank 2 3.94% $6,160
    AmeriHome Mortgage Company, LLC 1 2.99% $910
    AMERIFIRST FINANCIAL CORPORATION 1 5.25% $12,602
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.63% $9,917
    GUARANTY HOME MORTGAGE CORPORATION 1 5.00% $16,168
    Gateway First Bank 1 5.25% $0
    Florida Capital Bank 1 3.00% $13,732
    First Western Trust Bank 1 3.25% $0
    HomePromise Corporation 1 7.75% $13,141
    HOMESTAR FINANCIAL CORPORATION 1 5.75% $22,811
    Hometown Lenders, Inc. 1 4.75% $13,458
    First Home Bank 1 3.25% $4,399
    Ixonia Bank 1 6.63% $16,202
    JAMS-01, INC. 1 4.63% $13,061
    First Federal Bank of Kansas City 1 5.38% $13,020
    Loan Simple, Inc. 1 6.00% $13,855
    FirstBank 1 2.99% $16,153
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.50% $0
    Meridian Bank Corporation 1 4.63% $22,141
    AMERICAN FINANCIAL RESOURCES, INC. 1 3.13% $3,193
    ALLIED MORTGAGE GROUP, INC. 1 4.88% $1,924
    MORTGAGE ACCESS CORP. 1 7.13% $32,568
    MORTGAGEONE, INC. 1 5.25% $8,217
    Encompass Lending Group, LP 1 5.25% $0
    NATIONS DIRECT MORTGAGE, LLC 1 6.99% $3,697
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 3.38% $0
    ABSOLUTE HOME MORTGAGE CORPORATION 1 2.75% $3,155
    NETWORK CAPITAL FUNDING CORPORATION 1 2.50% $4,517
    Cornerstone First Mortgage, Inc 1 4.75% $9,378
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 1 6.25% $3,081
    Northpointe Bank 1 3.63% $8,339
    Congressional Bank 1 4.63% $10,584
    Old National Bank 1 2.50% $7,815
    Paramount Residential Mortgage Group, Inc. 1 5.75% $7,630
    PHH Mortgage Corporation 1 3.88% $5,800
    Christensen Financial, Inc. 1 4.50% $4,487
    PLUS RELOCATION MORTGAGE, LLC 1 3.75% $3,206
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.13% $709
    Call Federal Credit Union 1 4.00% $3,635
    BAYSHORE MORTGAGE FUNDING, LLC 1 3.88% $10,342
    Regions Bank 1 3.75% $4,108
    Residential Mortgage Solutions, Inc. 1 6.75% $14,584
    ROYAL UNITED MORTGAGE LLC 1 5.13% $29,174
    SECURITYNATIONAL MORTGAGE COMPANY 1 3.25% $10,872
    Service Federal Credit Union 1 3.38% $9,702
    SIRVA MORTGAGE, INC. 1 5.13% $464
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 5.63% $14,886
    SOUTHWEST STAGE FUNDING, LLC 1 4.75% $3,075
    Summit Mortgage Corporation 1 4.75% $6,204
    Sunflower Bank 1 3.38% $10,935
    1ST FINANCIAL, INC. 1 3.75% $13,506
    The Central Trust Bank 1 3.88% $11,590
    The Huntington National Bank 1 5.25% $12,643
    THE MORTGAGE LINK, INC. 1 4.25% $30,377
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $11,507

    The top Richmond VA lender as defined by loan originations is Mortgage Research Center, LLC, with 349 VA loans originated. Their average total fees are $7,265, which is $4,207 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Richmond VA lenders (with over 10 loans originated) are MCLEAN MORTGAGE CORPORATION ($6,323), NVR Mortgage Finance, Inc. ($6,644), HOME POINT FINANCIAL CORPORATION ($6,705), PENTAGON FEDERAL CREDIT UNION ($6,856) and CAPITAL CENTER, L.L.C. ($6,859).

    The lowest rate Richmond VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (3.25%), PENNYMAC LOAN SERVICES, LLC (3.37%), HOME POINT FINANCIAL CORPORATION (3.49%), DHI MORTGAGE COMPANY, LTD. (3.72%) and VILLAGE CAPITAL MORTGAGE (3.90%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Richmond (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 $289,975 (8.2%) $344,001 (7.1%) 1.08 3,185
    2018-02-01 $299,948 (8.2%) $354,282 (6.1%) 1.09 3,156
    2018-03-01 $314,078 (8.3%) $365,619 (5.6%) 1.10 3,257
    2018-04-01 $321,413 (8.2%) $374,795 (7.6%) 1.09 3,414
    2018-05-01 $324,975 (8.3%) $381,940 (7.3%) 1.09 3,670
    2018-06-01 $319,970 (6.7%) $379,288 (7.2%) 1.07 3,948
    2018-07-01 $323,215 (8.1%) $379,150 (8.3%) 1.08 4,083
    2018-08-01 $314,285 (7.5%) $371,157 (7.6%) 1.05 4,226
    2018-09-01 $309,000 (4.5%) $367,049 (5.0%) 1.04 4,286
    2018-10-01 $303,983 (2.7%) $360,416 (2.7%) 1.03 4,337
    2018-11-01 $307,475 (4.2%) $364,209 (3.8%) 1.04 4,236
    2018-12-01 $309,950 (6.9%) $363,549 (4.7%) 1.07 3,828
    2019-01-01 $309,625 (6.8%) $358,981 (4.4%) 1.07 3,425
    2019-02-01 $319,000 (6.4%) $369,110 (4.2%) 1.08 3,365
    2019-03-01 $327,114 (4.2%) $376,204 (2.9%) 1.07 3,463
    2019-04-01 $334,500 (4.1%) $383,923 (2.4%) 1.06 3,593
    2019-05-01 $337,848 (4.0%) $390,585 (2.3%) 1.06 3,785
    2019-06-01 $335,000 (4.7%) $389,719 (2.8%) 1.05 3,880
    2019-07-01 $332,136 (2.8%) $385,859 (1.8%) 1.04 3,993
    2019-08-01 $325,615 (3.6%) $379,095 (2.1%) 1.03 4,076
    2019-09-01 $322,451 (4.4%) $377,504 (2.9%) 1.03 4,126
    2019-10-01 $319,970 (5.3%) $375,387 (4.2%) 1.03 4,189
    2019-11-01 $315,300 (2.5%) $371,507 (2.0%) 1.03 3,963
    2019-12-01 $322,411 (4.0%) $373,558 (2.8%) 1.08 3,471
    2020-01-01 $324,925 (4.9%) $373,450 (4.0%) 1.09 3,072
    2020-02-01 $331,162 (3.8%) $388,400 (5.2%) 1.09 2,907
    2020-03-01 $345,950 (5.8%) $406,063 (7.9%) 1.08 3,026
    2020-04-01 $349,250 (4.4%) $404,730 (5.4%) 1.09 3,222
    2020-05-01 $355,398 (5.2%) $413,877 (6.0%) 1.08 3,094
    2020-06-01 $359,472 (7.3%) $419,488 (7.6%) 1.06 2,751
    2020-07-01 $358,450 (7.9%) $420,515 (9.0%) 1.04 2,536
    2020-08-01 $359,605 (10.4%) $423,796 (11.8%) 1.03 2,331
    2020-09-01 $356,349 (10.5%) $422,997 (12.1%) 1.02 2,263
    2020-10-01 $360,000 (12.5%) $428,065 (14.0%) 1.03 2,202
    2020-11-01 $361,945 (14.8%) $428,482 (15.3%) 1.06 2,092
    2020-12-01 $364,623 (13.1%) $429,511 (15.0%) 1.09 1,866
    2021-01-01 $368,250 (13.3%) $429,239 (14.9%) 1.10 1,597
    2021-02-01 $369,641 (11.6%) $434,176 (11.8%) 1.08 1,423
    2021-03-01 $369,735 (6.9%) $438,468 (8.0%) 1.05 1,422
    2021-04-01 $366,450 (4.9%) $432,715 (6.9%) 0.99 1,444
    2021-05-01 $357,991 (0.7%) $425,960 (2.9%) 0.95 1,536
    2021-06-01 $350,001 (-2.6%) $425,637 (1.5%) 0.92 1,663
    2021-07-01 $349,000 (-2.6%) $418,867 (-0.4%) 0.92 1,797
    2021-08-01 $349,938 (-2.7%) $420,705 (-0.7%) 0.93 1,840
    2021-09-01 $349,950 (-1.8%) $421,277 (-0.4%) 0.93 1,814
    2021-10-01 $350,000 (-2.8%) $419,492 (-2.0%) 0.93 1,705
    2021-11-01 $350,353 (-3.2%) $422,064 (-1.5%) 0.94 1,576
    2021-12-01 $353,399 (-3.1%) $424,812 (-1.1%) 0.96 1,270
    2022-01-01 $366,021 (-0.6%) $440,368 (2.6%) 0.99 1,042
    2022-02-01 $367,495 (-0.6%) $444,015 (2.3%) 0.96 943
    2022-03-01 $359,763 (-2.7%) $437,413 (-0.2%) 0.90 981
    2022-04-01 $372,980 (1.8%) $449,941 (4.0%) 0.89 1,092
    2022-05-01 $381,438 (6.6%) $460,449 (8.1%) 0.87 1,256
    2022-06-01 $393,253 (12.4%) $467,467 (9.8%) 0.88 1,520
    2022-07-01 $389,950 (11.7%) $458,390 (9.4%) 0.88 1,787
    2022-08-01 $385,788 (10.2%) $463,080 (10.1%) 0.89 1,800
    2022-09-01 $381,796 (9.1%) $458,170 (8.8%) 0.89 1,852
    2022-10-01 $379,950 (8.6%) $459,608 (9.6%) 0.89 1,924
    2022-11-01 $379,213 (8.2%) $450,126 (6.7%) 0.91 2,033
    2022-12-01 $376,975 (6.7%) $448,431 (5.6%) 0.93 1,878
    2023-01-01 $380,970 (4.1%) $449,052 (2.0%) 0.94 1,656
    2023-02-01 $392,495 (6.8%) $463,291 (4.3%) 0.95 1,499
    2023-03-01 $402,400 (11.9%) $476,101 (8.8%) 0.95 1,485
    2023-04-01 $422,010 (13.2%) $501,780 (11.5%) 0.98 1,486
    2023-05-01 $441,049 (15.6%) $517,478 (12.4%) 1.00 1,498
    Richmond's median listing price for 2023-05-01 was $441,049, a difference of $59,611 (15.6%) versus the prior year and $19,039 versus the prior month.

    Richmond's median listing price comes in at 100% of the national average.

    Richmond's average listing price for 2023-05-01 was $517,478, a difference of $57,029 (12.4%) versus the prior year and $15,698 versus the prior month.

    For the 2023-05-01 period, Richmond had 1,498 MLS listings, a difference of 12 listings (1%) versus the prior month and 242 listings (19%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Richmond (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 68 days 2,178 sqft
    2018-02-01 55 days 2,210 sqft
    2018-03-01 46 days 2,254 sqft
    2018-04-01 45 days 2,291 sqft
    2018-05-01 43 days 2,342 sqft
    2018-06-01 45 days 2,320 sqft
    2018-07-01 49 days 2,301 sqft
    2018-08-01 50 days 2,246 sqft
    2018-09-01 52 days 2,224 sqft
    2018-10-01 55 days 2,192 sqft
    2018-11-01 53 days 2,200 sqft
    2018-12-01 63 days 2,200 sqft
    2019-01-01 66 days 2,181 sqft
    2019-02-01 56 days 2,207 sqft
    2019-03-01 46 days 2,241 sqft
    2019-04-01 42 days 2,269 sqft
    2019-05-01 44 days 2,292 sqft
    2019-06-01 46 days 2,286 sqft
    2019-07-01 50 days 2,270 sqft
    2019-08-01 50 days 2,235 sqft
    2019-09-01 50 days 2,217 sqft
    2019-10-01 50 days 2,202 sqft
    2019-11-01 52 days 2,186 sqft
    2019-12-01 64 days 2,191 sqft
    2020-01-01 68 days 2,198 sqft
    2020-02-01 53 days 2,208 sqft
    2020-03-01 40 days 2,265 sqft
    2020-04-01 44 days 2,277 sqft
    2020-05-01 54 days 2,294 sqft
    2020-06-01 59 days 2,289 sqft
    2020-07-01 55 days 2,251 sqft
    2020-08-01 60 days 2,242 sqft
    2020-09-01 53 days 2,205 sqft
    2020-10-01 53 days 2,200 sqft
    2020-11-01 58 days 2,184 sqft
    2020-12-01 57 days 2,173 sqft
    2021-01-01 53 days 2,123 sqft
    2021-02-01 49 days 2,086 sqft
    2021-03-01 43 days 2,074 sqft
    2021-04-01 40 days 2,081 sqft
    2021-05-01 39 days 2,043 sqft
    2021-06-01 41 days 2,030 sqft
    2021-07-01 39 days 1,979 sqft
    2021-08-01 40 days 2,009 sqft
    2021-09-01 45 days 1,959 sqft
    2021-10-01 51 days 1,962 sqft
    2021-11-01 57 days 1,947 sqft
    2021-12-01 51 days 1,959 sqft
    2022-01-01 71 days 1,993 sqft
    2022-02-01 36 days 1,972 sqft
    2022-03-01 32 days 1,903 sqft
    2022-04-01 32 days 1,924 sqft
    2022-05-01 31 days 1,984 sqft
    2022-06-01 31 days 2,010 sqft
    2022-07-01 36 days 1,995 sqft
    2022-08-01 38 days 1,990 sqft
    2022-09-01 43 days 1,966 sqft
    2022-10-01 40 days 1,960 sqft
    2022-11-01 43 days 1,949 sqft
    2022-12-01 53 days 1,923 sqft
    2023-01-01 59 days 1,933 sqft
    2023-02-01 51 days 1,982 sqft
    2023-03-01 41 days 2,028 sqft
    2023-04-01 39 days 2,065 sqft
    2023-05-01 40 days 2,097 sqft
    Richmond's median listing age (time on market) for 2023-05-01 was 40 days. This is 27% longer than the same period one year ago.

    Richmond's median square footage for active listings during the 2023-05-01 period was 2,097 sqft. One year prior, the average listing was 1,984 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.