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 169 lenders originated 3,037 VA loans during 2024. The total origination value was $1,207,745,000, with an average VA loan value of $397,677.
Richmond VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Richmond
averaged
7.1%
for the week of 2025-05-23, compared to the national average (all VA variants) of
6.52% for the same period.
Richmond's average VA mortgage closing costs are $6,707.
The average rate for the prior week (2025-05-16) was
6.68% and
one month ago for the week of 2025-04-18, the
average rate was 6.55%.
The average rate one year ago was 7.07%.
For refis of the same type during the week of 2025-05-23, the average rate
was 6.5%.
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.
The top Richmond VA lender as defined by loan originations is Mortgage Research Center, LLC, with
305 VA loans originated. Their average total fees are
$6,864, which is $3,161
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Richmond VA lenders (with over 10 loans originated) are
PLANET HOME LENDING, LLC ($4,579), GUARANTEED RATE, INC. ($5,006), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,287), EAGLE HOME MORTGAGE, LLC ($5,588) and LAKEVIEW LOAN SERVICING, LLC ($5,855).
The lowest rate Richmond VA lenders (with over 10 loans originated) are
EAGLE HOME MORTGAGE, LLC (5.08%), DHI MORTGAGE COMPANY, LTD. (5.14%), PENNYMAC LOAN SERVICES, LLC (5.60%), LAKEVIEW LOAN SERVICING, LLC (5.62%) and VILLAGE CAPITAL MORTGAGE (5.64%).
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 | $290,306 (8.0%) | $344,498 (7.0%) | 1.08 | 3,178 |
| 2018-02-01 | $299,970 (8.1%) | $354,785 (6.0%) | 1.09 | 3,144 |
| 2018-03-01 | $314,625 (8.5%) | $366,208 (5.7%) | 1.10 | 3,247 |
| 2018-04-01 | $323,239 (8.7%) | $375,492 (7.6%) | 1.10 | 3,404 |
| 2018-05-01 | $324,975 (8.3%) | $382,454 (7.3%) | 1.09 | 3,663 |
| 2018-06-01 | $319,990 (6.7%) | $379,835 (7.2%) | 1.07 | 3,940 |
| 2018-07-01 | $324,700 (8.6%) | $379,715 (8.3%) | 1.08 | 4,075 |
| 2018-08-01 | $314,622 (7.3%) | $371,634 (7.7%) | 1.05 | 4,217 |
| 2018-09-01 | $309,900 (4.4%) | $367,402 (5.1%) | 1.04 | 4,280 |
| 2018-10-01 | $304,950 (2.6%) | $360,806 (2.7%) | 1.03 | 4,329 |
| 2018-11-01 | $308,024 (4.4%) | $364,646 (3.8%) | 1.04 | 4,228 |
| 2018-12-01 | $309,950 (6.9%) | $364,039 (4.7%) | 1.07 | 3,821 |
| 2019-01-01 | $309,950 (6.8%) | $359,273 (4.3%) | 1.07 | 3,420 |
| 2019-02-01 | $319,500 (6.5%) | $369,356 (4.1%) | 1.08 | 3,361 |
| 2019-03-01 | $327,114 (4.0%) | $376,429 (2.8%) | 1.07 | 3,458 |
| 2019-04-01 | $334,500 (3.5%) | $384,241 (2.3%) | 1.06 | 3,588 |
| 2019-05-01 | $337,988 (4.0%) | $390,929 (2.2%) | 1.06 | 3,779 |
| 2019-06-01 | $335,000 (4.7%) | $389,974 (2.7%) | 1.05 | 3,875 |
| 2019-07-01 | $332,450 (2.4%) | $386,136 (1.7%) | 1.04 | 3,988 |
| 2019-08-01 | $326,182 (3.7%) | $379,491 (2.1%) | 1.03 | 4,069 |
| 2019-09-01 | $322,705 (4.1%) | $377,916 (2.9%) | 1.03 | 4,118 |
| 2019-10-01 | $319,975 (4.9%) | $375,858 (4.2%) | 1.03 | 4,181 |
| 2019-11-01 | $315,900 (2.6%) | $371,921 (2.0%) | 1.04 | 3,959 |
| 2019-12-01 | $322,698 (4.1%) | $373,853 (2.7%) | 1.08 | 3,468 |
| 2020-01-01 | $324,950 (4.8%) | $373,865 (4.1%) | 1.09 | 3,068 |
| 2020-02-01 | $332,065 (3.9%) | $389,115 (5.4%) | 1.09 | 2,900 |
| 2020-03-01 | $346,462 (5.9%) | $406,699 (8.0%) | 1.09 | 3,021 |
| 2020-04-01 | $349,454 (4.5%) | $405,239 (5.5%) | 1.09 | 3,215 |
| 2020-05-01 | $356,573 (5.5%) | $414,592 (6.1%) | 1.08 | 3,085 |
| 2020-06-01 | $359,495 (7.3%) | $420,095 (7.7%) | 1.06 | 2,742 |
| 2020-07-01 | $358,914 (8.0%) | $420,939 (9.0%) | 1.04 | 2,530 |
| 2020-08-01 | $359,900 (10.3%) | $424,220 (11.8%) | 1.03 | 2,325 |
| 2020-09-01 | $356,423 (10.5%) | $423,226 (12.0%) | 1.02 | 2,260 |
| 2020-10-01 | $360,000 (12.5%) | $428,469 (14.0%) | 1.03 | 2,198 |
| 2020-11-01 | $362,425 (14.7%) | $429,055 (15.4%) | 1.06 | 2,086 |
| 2020-12-01 | $364,975 (13.1%) | $430,151 (15.1%) | 1.09 | 1,858 |
| 2021-01-01 | $368,995 (13.6%) | $429,757 (15.0%) | 1.10 | 1,594 |
| 2021-02-01 | $370,422 (11.6%) | $434,443 (11.7%) | 1.08 | 1,421 |
| 2021-03-01 | $369,750 (6.7%) | $438,656 (7.9%) | 1.05 | 1,421 |
| 2021-04-01 | $366,973 (5.0%) | $433,418 (7.0%) | 0.99 | 1,441 |
| 2021-05-01 | $357,991 (0.4%) | $426,121 (2.8%) | 0.95 | 1,536 |
| 2021-06-01 | $350,001 (-2.6%) | $425,637 (1.3%) | 0.92 | 1,663 |
| 2021-07-01 | $349,000 (-2.8%) | $418,632 (-0.6%) | 0.92 | 1,795 |
| 2021-08-01 | $349,950 (-2.8%) | $420,769 (-0.8%) | 0.93 | 1,837 |
| 2021-09-01 | $349,950 (-1.8%) | $421,469 (-0.4%) | 0.93 | 1,811 |
| 2021-10-01 | $350,000 (-2.8%) | $419,803 (-2.0%) | 0.93 | 1,700 |
| 2021-11-01 | $350,800 (-3.2%) | $422,452 (-1.5%) | 0.94 | 1,571 |
| 2021-12-01 | $353,675 (-3.1%) | $425,378 (-1.1%) | 0.96 | 1,263 |
| 2022-01-01 | $367,252 (-0.5%) | $441,049 (2.6%) | 0.99 | 1,035 |
| 2022-02-01 | $367,495 (-0.8%) | $443,725 (2.1%) | 0.96 | 935 |
| 2022-03-01 | $359,778 (-2.7%) | $437,655 (-0.2%) | 0.90 | 974 |
| 2022-04-01 | $371,925 (1.4%) | $450,446 (3.9%) | 0.89 | 1,082 |
| 2022-05-01 | $381,801 (6.7%) | $460,840 (8.2%) | 0.87 | 1,244 |
| 2022-06-01 | $394,823 (12.8%) | $468,128 (10.0%) | 0.88 | 1,506 |
| 2022-07-01 | $393,365 (12.7%) | $458,758 (9.6%) | 0.89 | 1,774 |
| 2022-08-01 | $386,853 (10.6%) | $463,235 (10.1%) | 0.89 | 1,793 |
| 2022-09-01 | $381,925 (9.1%) | $458,347 (8.8%) | 0.89 | 1,848 |
| 2022-10-01 | $379,970 (8.6%) | $460,089 (9.6%) | 0.89 | 1,920 |
| 2022-11-01 | $379,913 (8.3%) | $450,912 (6.7%) | 0.91 | 2,026 |
| 2022-12-01 | $378,088 (6.9%) | $449,078 (5.6%) | 0.93 | 1,874 |
| 2023-01-01 | $381,169 (3.8%) | $449,693 (2.0%) | 0.94 | 1,651 |
| 2023-02-01 | $392,500 (6.8%) | $464,029 (4.6%) | 0.95 | 1,495 |
| 2023-03-01 | $402,445 (11.9%) | $476,545 (8.9%) | 0.95 | 1,482 |
| 2023-04-01 | $424,950 (14.3%) | $502,424 (11.5%) | 0.99 | 1,482 |
| 2023-05-01 | $441,200 (15.6%) | $517,954 (12.4%) | 1.00 | 1,497 |
| 2023-06-01 | $442,258 (12.0%) | $522,251 (11.6%) | 0.99 | 1,545 |
| 2023-07-01 | $439,900 (11.8%) | $518,132 (12.9%) | 1.00 | 1,593 |
| 2023-08-01 | $439,125 (13.5%) | $507,473 (9.6%) | 1.01 | 1,686 |
| 2023-09-01 | $439,450 (15.1%) | $513,561 (12.1%) | 1.02 | 1,842 |
| 2023-10-01 | $435,000 (14.5%) | $518,506 (12.7%) | 1.02 | 2,077 |
| 2023-11-01 | $442,270 (16.4%) | $525,444 (16.5%) | 1.05 | 2,058 |
| 2023-12-01 | $429,999 (13.7%) | $511,200 (13.8%) | 1.05 | 1,961 |
| 2024-01-01 | $442,970 (16.2%) | $521,418 (16.0%) | 1.08 | 1,725 |
| 2024-02-01 | $448,678 (14.3%) | $528,085 (13.8%) | 1.08 | 1,664 |
| 2024-03-01 | $450,000 (11.8%) | $535,978 (12.5%) | 1.06 | 1,612 |
| 2024-04-01 | $458,767 (8.0%) | $544,481 (8.4%) | 1.07 | 1,762 |
| 2024-05-01 | $465,000 (5.4%) | $552,434 (6.7%) | 1.06 | 2,021 |
| 2024-06-01 | $464,091 (4.9%) | $553,400 (6.0%) | 1.06 | 2,147 |
| 2024-07-01 | $459,365 (4.4%) | $542,399 (4.7%) | 1.05 | 2,212 |
| 2024-08-01 | $449,990 (2.5%) | $533,575 (5.1%) | 1.05 | 2,256 |
| 2024-09-01 | $442,475 (0.7%) | $519,342 (1.1%) | 1.04 | 2,348 |
| 2024-10-01 | $443,450 (1.9%) | $519,926 (0.3%) | 1.04 | 2,402 |
| 2024-11-01 | $429,900 (-2.8%) | $507,186 (-3.5%) | 1.03 | 2,446 |
| 2024-12-01 | $419,950 (-2.3%) | $496,899 (-2.8%) | 1.04 | 2,161 |
| 2025-01-01 | $421,225 (-4.9%) | $495,419 (-5.0%) | 1.05 | 1,957 |
| 2025-02-01 | $429,653 (-4.2%) | $504,526 (-4.5%) | 1.04 | 1,944 |
| 2025-03-01 | $444,900 (-1.1%) | $518,691 (-3.2%) | 1.05 | 1,967 |
| 2025-04-01 | $458,950 (0.0%) | $538,194 (-1.2%) | 1.06 | 2,125 |
Richmond's median listing price comes in at 106% of the national average.
Richmond's average listing price for 2025-04-01 was $538,194, a difference of $-6,287 (-1.2%) versus the prior year and $19,503 versus the prior month.
For the 2025-04-01 period, Richmond had 2,125 MLS listings, a difference of 158 listings (8%) versus the prior month and 363 listings (21%) 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 | 2,179 sqft |
| 2018-02-01 | 55 days | 2,211 sqft |
| 2018-03-01 | 46 days | 2,255 sqft |
| 2018-04-01 | 45 days | 2,294 sqft |
| 2018-05-01 | 43 days | 2,345 sqft |
| 2018-06-01 | 45 days | 2,324 sqft |
| 2018-07-01 | 49 days | 2,304 sqft |
| 2018-08-01 | 50 days | 2,249 sqft |
| 2018-09-01 | 52 days | 2,227 sqft |
| 2018-10-01 | 55 days | 2,195 sqft |
| 2018-11-01 | 53 days | 2,202 sqft |
| 2018-12-01 | 63 days | 2,200 sqft |
| 2019-01-01 | 66 days | 2,185 sqft |
| 2019-02-01 | 56 days | 2,208 sqft |
| 2019-03-01 | 46 days | 2,242 sqft |
| 2019-04-01 | 42 days | 2,272 sqft |
| 2019-05-01 | 44 days | 2,293 sqft |
| 2019-06-01 | 46 days | 2,287 sqft |
| 2019-07-01 | 50 days | 2,271 sqft |
| 2019-08-01 | 50 days | 2,238 sqft |
| 2019-09-01 | 50 days | 2,219 sqft |
| 2019-10-01 | 50 days | 2,203 sqft |
| 2019-11-01 | 52 days | 2,187 sqft |
| 2019-12-01 | 64 days | 2,191 sqft |
| 2020-01-01 | 68 days | 2,200 sqft |
| 2020-02-01 | 53 days | 2,209 sqft |
| 2020-03-01 | 40 days | 2,269 sqft |
| 2020-04-01 | 44 days | 2,280 sqft |
| 2020-05-01 | 54 days | 2,297 sqft |
| 2020-06-01 | 59 days | 2,291 sqft |
| 2020-07-01 | 55 days | 2,253 sqft |
| 2020-08-01 | 60 days | 2,244 sqft |
| 2020-09-01 | 53 days | 2,205 sqft |
| 2020-10-01 | 53 days | 2,201 sqft |
| 2020-11-01 | 58 days | 2,187 sqft |
| 2020-12-01 | 57 days | 2,178 sqft |
| 2021-01-01 | 53 days | 2,125 sqft |
| 2021-02-01 | 48 days | 2,088 sqft |
| 2021-03-01 | 43 days | 2,075 sqft |
| 2021-04-01 | 40 days | 2,082 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 | 1,964 sqft |
| 2021-11-01 | 57 days | 1,951 sqft |
| 2021-12-01 | 51 days | 1,960 sqft |
| 2022-01-01 | 71 days | 1,997 sqft |
| 2022-02-01 | 36 days | 1,980 sqft |
| 2022-03-01 | 31 days | 1,907 sqft |
| 2022-04-01 | 32 days | 1,927 sqft |
| 2022-05-01 | 31 days | 1,992 sqft |
| 2022-06-01 | 31 days | 2,019 sqft |
| 2022-07-01 | 35 days | 2,000 sqft |
| 2022-08-01 | 38 days | 1,994 sqft |
| 2022-09-01 | 43 days | 1,967 sqft |
| 2022-10-01 | 40 days | 1,962 sqft |
| 2022-11-01 | 43 days | 1,951 sqft |
| 2022-12-01 | 53 days | 1,925 sqft |
| 2023-01-01 | 59 days | 1,937 sqft |
| 2023-02-01 | 52 days | 1,983 sqft |
| 2023-03-01 | 41 days | 2,029 sqft |
| 2023-04-01 | 38 days | 2,066 sqft |
| 2023-05-01 | 40 days | 2,100 sqft |
| 2023-06-01 | 40 days | 2,098 sqft |
| 2023-07-01 | 43 days | 2,094 sqft |
| 2023-08-01 | 39 days | 2,103 sqft |
| 2023-09-01 | 42 days | 2,096 sqft |
| 2023-10-01 | 41 days | 2,087 sqft |
| 2023-11-01 | 45 days | 2,091 sqft |
| 2023-12-01 | 54 days | 2,039 sqft |
| 2024-01-01 | 61 days | 2,054 sqft |
| 2024-02-01 | 48 days | 2,067 sqft |
| 2024-03-01 | 44 days | 2,074 sqft |
| 2024-04-01 | 41 days | 2,086 sqft |
| 2024-05-01 | 40 days | 2,108 sqft |
| 2024-06-01 | 46 days | 2,120 sqft |
| 2024-07-01 | 41 days | 2,093 sqft |
| 2024-08-01 | 43 days | 2,087 sqft |
| 2024-09-01 | 43 days | 2,039 sqft |
| 2024-10-01 | 41 days | 2,046 sqft |
| 2024-11-01 | 46 days | 2,002 sqft |
| 2024-12-01 | 54 days | 1,961 sqft |
| 2025-01-01 | 56 days | 1,957 sqft |
| 2025-02-01 | 49 days | 1,968 sqft |
| 2025-03-01 | 44 days | 2,000 sqft |
| 2025-04-01 | 36 days | 2,075 sqft |
Richmond's median square footage for active listings during the 2025-04-01 period was 2,075 sqft. One year prior, the average listing was 2,086 sqft.