Richmond VA Loan Rates, Closing Costs & Stats

RICHMOND, VA

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 214 lenders originated 7,619 VA loans during 2021. The total origination value was $2,292,955,000, with an average VA loan value of $300,952.

Richmond VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Richmond averaged 6.69% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

Richmond's average VA mortgage closing costs are $5,498.

The average rate for the prior week (2022-11-25) was 6.52% and one month ago for the week of 2022-10-28, the average rate was 7.11%.

The average rate one year ago was 3.29%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.29%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
FREEDOM MORTGAGE CORPORATION 617 2.41% $3,266
QUICKEN LOANS, LLC 573 2.46% $5,053
PENNYMAC LOAN SERVICES, LLC 477 2.37% $5,905
Mortgage Research Center, LLC 472 2.90% $6,020
NAVY FEDERAL CREDIT UNION 244 2.50% $5,808
NEW DAY FINANCIAL, LLC 188 2.75% $7,960
LOANDEPOT.COM, LLC 164 2.53% $4,547
UNITED WHOLESALE MORTGAGE, LLC 150 2.54% $6,135
CALIBER HOME LOANS, INC. 148 2.56% $5,341
Wells Fargo Bank 144 2.52% $4,625
USAA Federal Savings Bank 140 2.86% $4,646
Prosperity Home Mortgage, LLC 139 2.64% $6,631
NVR Mortgage Finance, Inc. 135 2.79% $7,337
MOVEMENT MORTGAGE, LLC 131 2.83% $5,946
Alcova Mortgage LLC 123 2.84% $7,099
George Mason Mortgage, LLC 103 2.78% $8,222
C & F Mortgage Corporation 100 2.84% $8,362
Mr. Cooper ( Nationstar Mortgage ) 98 2.69% $3,357
NFM, INC. 97 2.96% $8,292
Presidential Bank, FSB 89 2.82% $8,640
LAKEVIEW LOAN SERVICING, LLC 87 2.45% $2,563
CLEARPATH LENDING 83 2.33% $4,431
SOUTHERN TRUST MORTGAGE, LLC 76 2.76% $7,035
The Federal Savings Bank 74 2.45% $7,907
PENTAGON FEDERAL CREDIT UNION 73 2.34% $3,020
CAPITAL CENTER, L.L.C. 65 2.66% $2,867
HOME POINT FINANCIAL CORPORATION 64 2.49% $5,157
VILLAGE CAPITAL MORTGAGE 62 2.34% $4,216
Towne First Mortgage, LLC 58 2.70% $5,605
Virginia Credit Union, Inc. 53 2.60% $5,871
AMERICAN FINANCIAL NETWORK, INC. 50 2.61% $8,849
Towne Bank 48 2.67% $8,802
VILLAGE BANK MORTGAGE CORPORATION 47 2.72% $6,603
Truist 44 2.68% $5,330
Carrington Mortgage Services, LLC 43 3.09% $4,876
NEWREZ LLC 41 2.62% $3,715
DHI MORTGAGE COMPANY, LTD. 40 2.61% $8,406
Low VA Rates, LLC 40 2.43% $3,889
Lakeview Community Capital, LLC 40 2.51% $2,004
CROSSCOUNTRY MORTGAGE, LLC 36 2.89% $7,508
Integrity Home Mortgage Corp 33 2.86% $7,982
MCLEAN MORTGAGE CORPORATION 32 2.63% $5,775
PRIMELENDING, A PLAINSCAPITAL COMPANY 32 2.96% $4,195
Tidewater Home Funding, LLC 31 2.72% $7,516
TIDEWATER MORTGAGE SERVICES, INC. 29 2.95% $8,505
PLANET HOME LENDING, LLC 28 2.47% $3,548
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 27 2.98% $7,205
ACCELERATE MORTGAGE, LLC 27 2.43% $7,103
FIRST HOME MORTGAGE CORPORATION 26 2.60% $6,373
AMERISAVE MORTGAGE CORPORATION 26 2.60% $7,403
BROKER SOLUTIONS, INC. 24 2.75% $6,733
EMBRACE HOME LOANS, INC. 24 2.63% $5,941
GUARANTEED RATE, INC. 23 2.48% $4,033
NP, Inc. 22 2.29% $4,613
GUILD MORTGAGE COMPANY 22 2.83% $6,678
SUN WEST MORTGAGE COMPANY, INC. 22 2.50% $3,682
First Guaranty Mortgage Corporation 21 2.43% $4,765
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 21 2.71% $6,113
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 20 2.88% $7,462
OVM FINANCIAL, INC. 19 2.86% $8,931
MUTUAL OF OMAHA MORTGAGE, INC. 19 2.55% $6,136
Mid-Continent Funding, Inc. 18 2.85% $7,156
HOMEBRIDGE FINANCIAL SERVICES, INC. 17 2.71% $5,960
Magnolia Bank 17 2.49% $7,417
Barrington Bank & Trust Company, N.A. 16 2.78% $5,769
Ameris Bank 15 2.69% $6,844
North American Savings Bank, F.S.B. 14 2.35% $5,011
Flagstar Bank, FSB 14 2.57% $5,136
Fulton Bank 13 2.88% $8,774
C&F Select LLC 13 2.81% $7,748
LOANPAL, LLC 13 2.57% $5,958
Citizens Bank 13 2.63% $6,260
Commerce Home Mortgage, Inc. 12 2.50% $3,621
NETWORK CAPITAL FUNDING CORPORATION 12 2.50% $4,017
Assurance Financial Group, L.L.C. 11 3.01% $8,621
Blue Ridge Bank 11 2.81% $6,033
TJC Mortgage, Inc. 11 2.22% $3,649
First Federal Bank 11 2.90% $8,704
GoPrime Mortgage, Inc. 11 2.61% $5,470
MID AMERICA MORTGAGE, INC. 11 2.93% $4,490
SOVEREIGN LENDING GROUP INCORPORATED 10 2.61% $6,930
NBKC BANK 10 2.35% $4,377
First Heritage Mortgage, LLC 10 2.70% $9,447
BNC National Bank 9 2.38% $3,370
Atlantic Coast Mortgage, LLC 8 2.69% $4,830
First Mortgage Solutions, LLC 8 2.22% $2,561
Atlantic Union Bank 8 2.66% $6,630
Wyndham Capital Mortgage, Inc. 7 2.32% $2,749
PLAZA HOME MORTGAGE, INC. 7 2.75% $4,481
INTERCOASTAL MORTGAGE COMPANY 7 2.43% $5,011
Nations Lending Corporation 7 3.20% $8,898
RELIANCE FIRST CAPITAL, LLC 7 3.02% $11,724
Prime Choice Funding Inc. 7 2.39% $9,259
M&T Bank 7 2.71% $4,815
CONTOUR MORTGAGE CORPORATION 6 2.63% $3,368
CMG MORTGAGE, INC. 6 3.13% $9,170
Christensen Financial, Inc. 6 3.04% $8,202
AMERICAN PACIFIC MORTGAGE CORPORATION 6 3.10% $6,084
PNC Bank 5 2.98% $4,365
Sierra Pacific Mortgage Company, Inc. 5 2.75% $4,793
Fifth Third Bank 5 2.80% $5,771
Strong Home Mortgage, LLC 5 2.45% $5,871
EMM LOANS LLC 5 2.60% $10,379
CHURCHILL MORTGAGE CORPORATION 5 2.55% $3,395
Towne Mortgage, LLC 5 2.65% $6,013
UNION HOME MORTGAGE CORP. 5 2.25% $5,991
MEMBER ADVANTAGE MORTGAGE, LLC 5 3.33% $4,722
Meridian Bank Corporation 5 2.35% $8,141
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 2.90% $8,114
ROUNDPOINT MORTGAGE SERVICING CORPORATION 4 3.72% $6,354
INTERLINC MORTGAGE SERVICES, LLC 4 3.38% $7,603
AMERICAN FINANCING CORPORATION 4 2.22% $9,073
Plains Commerce Bank 4 2.38% $10,032
PHH Mortgage Corporation 4 2.72% $8,292
Keystone Funding, Inc. 4 2.38% $8,634
KS StateBank 4 2.41% $2,903
BAYSHORE MORTGAGE FUNDING, LLC 3 2.54% $7,565
NewTowne Mortgage, LLC 3 2.63% $8,239
First Home Bank 3 2.83% $10,948
Paramount Residential Mortgage Group, Inc. 3 2.83% $4,137
RESIDENTIAL MORTGAGE SERVICES, INC. 3 2.50% $6,871
SUCCESS MORTGAGE PARTNERS, INC. 3 3.58% $4,370
HOMESIDE FINANCIAL, LLC 3 2.54% $3,251
MASON MCDUFFIE MORTGAGE CORPORATION 3 2.58% $3,747
Equity Prime Mortgage LLC 3 3.29% $4,172
FINANCE OF AMERICA MORTGAGE LLC 3 2.88% $11,750
Paramount Bank 3 2.50% $17,872
First Federal Bank of Kansas City 3 2.42% $2,609
MILEND, INC. 3 3.75% $7,033
GENEVA FINANCIAL, LLC 3 3.21% $2,927
NATIONS DIRECT MORTGAGE, LLC 2 3.94% $16,060
ALLIED MORTGAGE GROUP, INC. 2 2.75% $5,339
AmeriHome Mortgage Company, LLC 2 2.81% $4,273
APEX HOME LOANS, INC. 2 2.63% $7,008
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 3.63% $5,657
Armed Forces Bank 2 2.25% $2,741
BAY CAPITAL MORTGAGE CORPORATION 2 2.38% $12,538
CBM Mortgage, Inc. 2 2.81% $7,998
Colonial Savings, F.A. 2 2.44% $6,124
First Midwest Bank 2 2.25% $1,989
First Savings Bank 2 3.63% $6,056
Gateway First Bank 2 2.50% $7,489
GUARANTEED RATE AFFINITY, LLC 2 2.25% $15,512
Ixonia Bank 2 2.63% $7,875
JOHNSON MORTGAGE COMPANY, L.L.C. 2 2.69% $11,327
LENDUS, LLC 2 2.25% $4,021
Northpointe Bank 2 2.44% $2,273
OCMBC, INC. 2 3.00% $7,719
Renasant Bank 2 2.69% $3,330
South State Bank 2 2.44% $6,975
STEARNS LENDING, LLC 2 2.75% $2,583
SWBC MORTGAGE CORPORATION 2 2.94% $13,221
VANDERBILT MORTGAGE AND FINANCE, INC. 2 2.50% $4,297
West Town Bank & Trust 2 2.94% $9,874
LIBERTY HOME MORTGAGE CORPORATION 1 2.25% $6,548
LEADERONE FINANCIAL CORPORATION 1 3.25% $8,062
LAND HOME FINANCIAL SERVICES, INC. 1 2.75% $3,292
KeyBank 1 2.50% $8,457
KELLER MORTGAGE, LLC 1 2.63% $8,287
PLUS RELOCATION MORTGAGE, LLC 1 2.99% $3,619
HOMESPIRE MORTGAGE CORPORATION 1 3.25% $6,003
HomePromise Corporation 1 3.25% $29,470
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.50% $9,537
GSF Mortgage Corporation 1 2.25% $3,047
Goldwater Bank, N.A. 1 2.38% $5,316
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.25% $4,084
Florida Capital Bank 1 3.13% $9,037
RANLIFE, INC. 1 2.88% $2,886
FLAT BRANCH MORTGAGE, INC. 1 2.88% $25,563
Watermark Capital, Inc. 1 2.25% $2,024
RESIDENTIAL HOME FUNDING CORP. 1 2.88% $16,895
First State Bank of St. Charles, Missouri 1 2.25% $7,359
First Internet Bank of Indiana 1 2.25% $3,331
SECURITYNATIONAL MORTGAGE COMPANY 1 2.50% $4,220
FirstBank 1 2.38% $2,370
SIRVA MORTGAGE, INC. 1 3.13% $0
FBC MORTGAGE, LLC 1 2.75% $4,241
Waterstone Mortgage Corporation 1 2.38% $6,636
EVERETT FINANCIAL, INC. 1 3.13% $15,069
Advance Financial Group, LLC 1 2.75% $9,823
EQUITY RESOURCES, INC. 1 2.50% $3,329
DRAPER AND KRAMER MORTGAGE CORP. 1 3.50% $3,002
DIRECT MORTGAGE LOANS, LLC 1 2.75% $7,452
ZILLOW HOME LOANS, LLC 1 2.50% $1,919
The Central Trust Bank 1 2.50% $3,848
DAS Acquisition Company, LLC 1 3.25% $2,932
THE MORTGAGE FIRM, INC. 1 2.75% $4,732
TIAA, FSB 1 2.38% $1,290
Credence Funding Corporation 1 2.25% $2,574
Community First National Bank 1 2.75% $11,991
CityWorth Mortgage LLC 1 3.00% $525
CERTAINTY HOME LOANS, LLC 1 3.38% $3,417
Century Mortgage Company DBA Century Lending Company 1 2.63% $6,220
Capital City Home Loans, LLC 1 2.75% $4,387
Triumph Bank 1 2.25% $1,894
Capital Bank 1 2.38% $2,127
Call Federal Credit Union 1 3.38% $3,485
United Fidelity Funding Corp. 1 2.88% $20,162
UNITED MORTGAGE CORP. 1 2.75% $9,004
UNITED SECURITY FINANCIAL CORP 1 1.88% $8,880
BOKF 1 3.25% $12,936
Bank of England 1 2.25% $9,254
U.S. Bank 1 3.13% $2,194
US MORTGAGE CORPORATION 1 2.38% $2,810
ACADEMY MORTGAGE CORPORATION 1 3.25% $14,342
Austin Capital Bank SSB 1 3.00% $2,990
American Mortgage & Equity Consultants, Inc. 1 3.25% $27,257
OCEANSIDE MORTGAGE COMPANY 1 2.75% $1,346
AMERICAN FINANCIAL RESOURCES, INC. 1 4.13% $3,913
OPEN MORTGAGE, LLC 1 2.75% $4,057
NEWPORT NEWS SHIPBUILDING EMPLOYEES 1 2.38% $2,067
ABSOLUTE HOME MORTGAGE CORPORATION 1 2.25% $2,239
MORTGAGE ACCESS CORP. 1 2.75% $8,424
MIDLAND MORTGAGE CORPORATION 1 3.25% $7,659

The top Richmond VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 617 VA loans originated. Their average total fees are $3,266, which is $1,788 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Richmond VA lenders (with over 10 loans originated) are Lakeview Community Capital, LLC ($2,004), LAKEVIEW LOAN SERVICING, LLC ($2,563), CAPITAL CENTER, L.L.C. ($2,867), PENTAGON FEDERAL CREDIT UNION ($3,020) and FREEDOM MORTGAGE CORPORATION ($3,266).

The lowest rate Richmond VA lenders (with over 10 loans originated) are TJC Mortgage, Inc. (2.22%), NP, Inc. (2.29%), CLEARPATH LENDING (2.33%), PENTAGON FEDERAL CREDIT UNION (2.34%) and VILLAGE CAPITAL MORTGAGE (2.34%).


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%) $374,815 (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%) $376,240 (2.9%) 1.07 3,467
2019-04-01 $334,500 (4.1%) $384,025 (2.5%) 1.06 3,605
2019-05-01 $337,000 (3.7%) $390,340 (2.2%) 1.05 3,804
2019-06-01 $334,950 (4.7%) $389,278 (2.6%) 1.05 3,899
2019-07-01 $331,425 (2.5%) $385,392 (1.7%) 1.04 4,012
2019-08-01 $325,077 (3.4%) $378,653 (2.0%) 1.03 4,096
2019-09-01 $322,193 (4.3%) $377,062 (2.7%) 1.03 4,145
2019-10-01 $319,938 (5.3%) $374,952 (4.0%) 1.03 4,208
2019-11-01 $315,000 (2.5%) $371,081 (1.9%) 1.03 3,983
2019-12-01 $320,730 (3.5%) $373,045 (2.6%) 1.07 3,491
2020-01-01 $324,515 (4.8%) $372,854 (3.9%) 1.08 3,092
2020-02-01 $330,000 (3.5%) $387,609 (5.0%) 1.08 2,927
2020-03-01 $345,183 (5.5%) $405,193 (7.7%) 1.08 3,046
2020-04-01 $349,108 (4.4%) $403,929 (5.2%) 1.09 3,241
2020-05-01 $354,950 (5.3%) $413,001 (5.8%) 1.08 3,113
2020-06-01 $358,300 (7.0%) $418,546 (7.5%) 1.05 2,771
2020-07-01 $357,610 (7.9%) $419,530 (8.9%) 1.04 2,556
2020-08-01 $358,970 (10.4%) $422,740 (11.6%) 1.03 2,351
2020-09-01 $355,440 (10.3%) $421,677 (11.8%) 1.02 2,283
2020-10-01 $359,950 (12.5%) $426,546 (13.8%) 1.03 2,221
2020-11-01 $360,875 (14.6%) $426,825 (15.0%) 1.05 2,111
2020-12-01 $363,450 (13.3%) $427,785 (14.7%) 1.08 1,884
2021-01-01 $365,245 (12.6%) $427,724 (14.7%) 1.09 1,616
2021-02-01 $368,475 (11.7%) $432,392 (11.6%) 1.07 1,442
2021-03-01 $368,695 (6.8%) $436,412 (7.7%) 1.05 1,440
2021-04-01 $364,750 (4.5%) $430,945 (6.7%) 0.99 1,462
2021-05-01 $351,990 (-0.8%) $424,372 (2.8%) 0.93 1,553
2021-06-01 $350,000 (-2.3%) $424,144 (1.3%) 0.92 1,680
2021-07-01 $348,800 (-2.5%) $417,641 (-0.5%) 0.92 1,814
2021-08-01 $349,925 (-2.5%) $419,379 (-0.8%) 0.93 1,858
2021-09-01 $349,700 (-1.6%) $419,999 (-0.4%) 0.93 1,832
2021-10-01 $349,970 (-2.8%) $418,010 (-2.0%) 0.93 1,724
2021-11-01 $349,950 (-3.0%) $420,557 (-1.5%) 0.93 1,595
2021-12-01 $352,778 (-2.9%) $423,069 (-1.1%) 0.96 1,289
2022-01-01 $365,000 (-0.1%) $438,614 (2.6%) 0.99 1,062
2022-02-01 $365,078 (-0.9%) $441,496 (2.1%) 0.95 961
2022-03-01 $355,210 (-3.7%) $435,168 (-0.3%) 0.89 1,000
2022-04-01 $369,950 (1.4%) $447,777 (3.9%) 0.88 1,110
2022-05-01 $379,450 (7.8%) $457,972 (7.9%) 0.87 1,271
2022-06-01 $389,987 (11.4%) $465,904 (9.9%) 0.87 1,536
2022-07-01 $389,000 (11.5%) $456,593 (9.3%) 0.88 1,802
2022-08-01 $385,000 (10.0%) $461,559 (10.1%) 0.89 1,815
2022-09-01 $379,750 (8.6%) $456,403 (8.7%) 0.89 1,869
2022-10-01 $379,675 (8.5%) $457,671 (9.5%) 0.89 1,940
2022-11-01 $377,683 (7.9%) $448,574 (6.7%) 0.91 2,048
Richmond's median listing price for 2022-11-01 was $377,683, a difference of $27,733 (7.9%) versus the prior year and $-1,992 versus the prior month.

Richmond's median listing price comes in at 91% of the national average.

Richmond's average listing price for 2022-11-01 was $448,574, a difference of $28,017 (6.7%) versus the prior year and $-9,097 versus the prior month.

For the 2022-11-01 period, Richmond had 2,048 MLS listings, a difference of 108 listings (6%) versus the prior month and 453 listings (28%) 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 71 days 2,178 sqft
2018-02-01 59 days 2,211 sqft
2018-03-01 48 days 2,254 sqft
2018-04-01 47 days 2,291 sqft
2018-05-01 45 days 2,342 sqft
2018-06-01 46 days 2,320 sqft
2018-07-01 51 days 2,301 sqft
2018-08-01 52 days 2,246 sqft
2018-09-01 54 days 2,224 sqft
2018-10-01 58 days 2,192 sqft
2018-11-01 56 days 2,200 sqft
2018-12-01 65 days 2,200 sqft
2019-01-01 69 days 2,182 sqft
2019-02-01 61 days 2,207 sqft
2019-03-01 48 days 2,242 sqft
2019-04-01 44 days 2,269 sqft
2019-05-01 45 days 2,290 sqft
2019-06-01 49 days 2,283 sqft
2019-07-01 51 days 2,263 sqft
2019-08-01 51 days 2,233 sqft
2019-09-01 52 days 2,216 sqft
2019-10-01 51 days 2,201 sqft
2019-11-01 55 days 2,182 sqft
2019-12-01 67 days 2,187 sqft
2020-01-01 71 days 2,193 sqft
2020-02-01 59 days 2,205 sqft
2020-03-01 43 days 2,258 sqft
2020-04-01 47 days 2,272 sqft
2020-05-01 57 days 2,285 sqft
2020-06-01 64 days 2,285 sqft
2020-07-01 59 days 2,249 sqft
2020-08-01 65 days 2,240 sqft
2020-09-01 58 days 2,204 sqft
2020-10-01 58 days 2,200 sqft
2020-11-01 62 days 2,178 sqft
2020-12-01 59 days 2,168 sqft
2021-01-01 57 days 2,118 sqft
2021-02-01 52 days 2,084 sqft
2021-03-01 45 days 2,072 sqft
2021-04-01 45 days 2,079 sqft
2021-05-01 45 days 2,039 sqft
2021-06-01 46 days 2,026 sqft
2021-07-01 43 days 1,976 sqft
2021-08-01 45 days 2,007 sqft
2021-09-01 50 days 1,950 sqft
2021-10-01 57 days 1,960 sqft
2021-11-01 65 days 1,940 sqft
2021-12-01 55 days 1,948 sqft
2022-01-01 83 days 1,982 sqft
2022-02-01 41 days 1,970 sqft
2022-03-01 34 days 1,893 sqft
2022-04-01 35 days 1,924 sqft
2022-05-01 33 days 1,980 sqft
2022-06-01 33 days 2,010 sqft
2022-07-01 37 days 1,992 sqft
2022-08-01 40 days 1,986 sqft
2022-09-01 44 days 1,957 sqft
2022-10-01 43 days 1,960 sqft
2022-11-01 45 days 1,942 sqft
Richmond's median listing age (time on market) for 2022-11-01 was 45 days. This is -32% shorter than the same period one year ago.

Richmond's median square footage for active listings during the 2022-11-01 period was 1,942 sqft. One year prior, the average listing was 1,940 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.