Richmond VA Loans

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 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 5.55% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.68% and one month ago for the week of 2022-04-08, the average rate was 5.01%.

The average rate one year ago was 3.12%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.06%.

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 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. Total Fees
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 & INVESTMENT LLC 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 Bank 44 2.68% $5,330
Carrington Mortgage Services, LLC 43 3.09% $4,876
NEWREZ LLC 41 2.62% $3,715
Lakeview Community Capital, LLC 40 2.51% $2,004
DHI MORTGAGE COMPANY, LTD. 40 2.61% $8,406
Low VA Rates, LLC 40 2.43% $3,889
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
ACCELERATE MORTGAGE, LLC 27 2.43% $7,103
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 27 2.98% $7,205
AMERISAVE MORTGAGE CORPORATION 26 2.60% $7,403
FIRST HOME MORTGAGE CORPORATION 26 2.60% $6,373
EMBRACE HOME LOANS, INC. 24 2.63% $5,941
BROKER SOLUTIONS, INC. 24 2.75% $6,733
GUARANTEED RATE, INC. 23 2.48% $4,033
GUILD MORTGAGE COMPANY 22 2.83% $6,678
NP, Inc. 22 2.29% $4,613
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
MUTUAL OF OMAHA MORTGAGE, INC. 19 2.55% $6,136
OVM FINANCIAL, INC. 19 2.86% $8,931
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
Citizens Bank 13 2.63% $6,260
Fulton Bank 13 2.88% $8,774
LOANPAL, LLC 13 2.57% $5,958
C&F Select LLC 13 2.81% $7,748
NETWORK CAPITAL FUNDING CORPORATION 12 2.50% $4,017
Commerce Home Mortgage, Inc. 12 2.50% $3,621
GoPrime Mortgage, Inc. 11 2.61% $5,470
TJC Mortgage, Inc. 11 2.22% $3,649
MID AMERICA MORTGAGE, INC. 11 2.93% $4,490
Blue Ridge Bank 11 2.81% $6,033
First Federal Bank 11 2.90% $8,704
Assurance Financial Group, L.L.C. 11 3.01% $8,621
NBKC BANK 10 2.35% $4,377
SOVEREIGN LENDING GROUP INCORPORATED 10 2.61% $6,930
First Heritage Mortgage, LLC 10 2.70% $9,447
BNC National Bank 9 2.38% $3,370
Atlantic Union Bank 8 2.66% $6,630
Atlantic Coast Mortgage, LLC 8 2.69% $4,830
First Mortgage Solutions, LLC 8 2.22% $2,561
INTERCOASTAL MORTGAGE COMPANY 7 2.43% $5,011
Wyndham Capital Mortgage, Inc. 7 2.32% $2,749
RELIANCE FIRST CAPITAL, LLC 7 3.02% $11,724
Prime Choice Funding Inc. 7 2.39% $9,259
PLAZA HOME MORTGAGE, INC. 7 2.75% $4,481
Nations Lending Corporation 7 3.20% $8,898
Manufacturers and Traders Trust Company 7 2.71% $4,815
AMERICAN PACIFIC MORTGAGE CORPORATION 6 3.10% $6,084
Christensen Financial, Inc. 6 3.04% $8,202
CMG MORTGAGE, INC. 6 3.13% $9,170
CONTOUR MORTGAGE CORPORATION 6 2.63% $3,368
Sierra Pacific Mortgage Company, Inc. 5 2.75% $4,793
Meridian Bank Corporation 5 2.35% $8,141
Fifth Third Bank 5 2.80% $5,771
Strong Home Mortgage, LLC 5 2.45% $5,871
MEMBER ADVANTAGE MORTGAGE, LLC 5 3.33% $4,722
UNION HOME MORTGAGE CORP. 5 2.25% $5,991
EMM LOANS LLC 5 2.60% $10,379
Towne Mortgage, LLC 5 2.65% $6,013
CHURCHILL MORTGAGE CORPORATION 5 2.55% $3,395
PNC Bank 5 2.98% $4,365
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 2.90% $8,114
PHH Mortgage Corporation 4 2.72% $8,292
ROUNDPOINT MORTGAGE SERVICING CORPORATION 4 3.72% $6,354
INTERLINC MORTGAGE SERVICES, LLC 4 3.38% $7,603
Keystone Funding, Inc. 4 2.38% $8,634
KS StateBank 4 2.41% $2,903
Plains Commerce Bank 4 2.38% $10,032
AMERICAN FINANCING CORPORATION 4 2.22% $9,073
RESIDENTIAL MORTGAGE SERVICES, INC. 3 2.50% $6,871
Paramount Residential Mortgage Group, Inc. 3 2.83% $4,137
SUCCESS MORTGAGE PARTNERS, INC. 3 3.58% $4,370
BAYSHORE MORTGAGE FUNDING, LLC 3 2.54% $7,565
MASON MCDUFFIE MORTGAGE CORPORATION 3 2.58% $3,747
Equity Prime Mortgage LLC 3 3.29% $4,172
MILEND, INC. 3 3.75% $7,033
FINANCE OF AMERICA MORTGAGE LLC 3 2.88% $11,750
HOMESIDE FINANCIAL, LLC 3 2.54% $3,251
First Federal Bank of Kansas City 3 2.42% $2,609
GENEVA FINANCIAL, LLC 3 3.21% $2,927
NewTowne Mortgage, LLC 3 2.63% $8,239
First Home Bank 3 2.83% $10,948
Paramount Bank 3 2.50% $17,872
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 & INVESTMENT LLC (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 $290,000 (9.4%) $349,031 (8.4%) 1.07 3,377
2018-02-01 $299,700 (8.9%) $356,823 (7.0%) 1.08 3,338
2018-03-01 $310,000 (7.3%) $371,320 (7.9%) 1.07 3,433
2018-04-01 $319,950 (8.9%) $381,058 (9.6%) 1.07 3,579
2018-05-01 $321,375 (7.2%) $385,580 (8.8%) 1.07 3,885
2018-06-01 $319,370 (6.7%) $384,189 (9.1%) 1.06 4,181
2018-07-01 $319,995 (8.5%) $383,484 (8.9%) 1.07 4,274
2018-08-01 $314,175 (8.3%) $374,311 (7.9%) 1.05 4,453
2018-09-01 $307,610 (4.3%) $370,331 (5.8%) 1.03 4,513
2018-10-01 $300,000 (2.6%) $365,473 (4.0%) 1.00 4,579
2018-11-01 $308,000 (4.6%) $369,801 (5.2%) 1.03 4,493
2018-12-01 $309,500 (6.8%) $364,652 (4.2%) 1.06 4,086
2019-01-01 $309,450 (6.7%) $361,663 (3.6%) 1.07 3,674
2019-02-01 $316,725 (5.7%) $369,848 (3.7%) 1.06 3,605
2019-03-01 $324,066 (4.5%) $376,673 (1.4%) 1.06 3,705
2019-04-01 $332,725 (4.0%) $383,734 (0.7%) 1.05 3,838
2019-05-01 $333,900 (3.9%) $390,394 (1.3%) 1.03 4,026
2019-06-01 $333,990 (4.6%) $389,336 (1.3%) 1.03 4,119
2019-07-01 $332,450 (3.9%) $386,128 (0.7%) 1.03 4,241
2019-08-01 $324,885 (3.4%) $377,754 (0.9%) 1.02 4,252
2019-09-01 $319,900 (4.0%) $374,186 (1.0%) 1.02 4,244
2019-10-01 $319,475 (6.5%) $374,590 (2.5%) 1.02 4,484
2019-11-01 $315,000 (2.3%) $370,721 (0.3%) 1.02 4,229
2019-12-01 $319,950 (3.4%) $373,658 (2.5%) 1.07 3,682
2020-01-01 $321,975 (4.1%) $373,619 (3.3%) 1.07 3,273
2020-02-01 $329,000 (3.9%) $384,041 (3.8%) 1.06 3,113
2020-03-01 $341,404 (5.4%) $402,024 (6.7%) 1.07 3,215
2020-04-01 $345,000 (3.7%) $401,865 (4.7%) 1.07 3,439
2020-05-01 $350,000 (4.8%) $412,255 (5.6%) 1.06 3,317
2020-06-01 $358,975 (7.5%) $421,266 (8.2%) 1.05 2,939
2020-07-01 $360,425 (8.4%) $423,177 (9.6%) 1.03 2,670
2020-08-01 $367,780 (13.2%) $437,131 (15.7%) 1.05 2,427
2020-09-01 $367,475 (14.9%) $436,376 (16.6%) 1.05 2,385
2020-10-01 $375,000 (17.4%) $443,281 (18.3%) 1.07 2,325
2020-11-01 $377,000 (19.7%) $445,850 (20.3%) 1.08 2,208
2020-12-01 $364,150 (13.8%) $430,313 (15.2%) 1.07 1,991
2021-01-01 $365,000 (13.4%) $431,514 (15.5%) 1.07 1,699
2021-02-01 $368,945 (12.1%) $437,943 (14.0%) 1.06 1,525
2021-03-01 $372,531 (9.1%) $450,898 (12.2%) 1.04 1,505
2021-04-01 $364,000 (5.5%) $438,988 (9.2%) 0.98 1,529
2021-05-01 $350,000 (0.0%) $432,793 (5.0%) 0.92 1,603
2021-06-01 $350,000 (-2.5%) $434,802 (3.2%) 0.91 1,749
2021-07-01 $348,570 (-3.3%) $427,607 (1.1%) 0.91 1,859
2021-08-01 $349,950 (-4.9%) $429,739 (-1.7%) 0.92 1,946
2021-09-01 $349,950 (-4.8%) $428,722 (-1.8%) 0.92 1,932
2021-10-01 $350,000 (-6.7%) $423,946 (-4.4%) 0.92 1,816
2021-11-01 $352,500 (-6.5%) $427,922 (-4.0%) 0.93 1,679
2021-12-01 $357,950 (-1.7%) $432,089 (0.4%) 0.95 1,356
2022-01-01 $374,715 (2.7%) $447,321 (3.7%) 1.00 1,086
2022-02-01 $372,450 (1.0%) $451,161 (3.0%) 0.95 1,017
2022-03-01 $359,900 (-3.4%) $444,228 (-1.5%) 0.89 1,037
2022-04-01 $375,000 (3.0%) $459,959 (4.8%) 0.88 1,156
Richmond's median listing price for 2022-04-01 was $375,000, a difference of $11,000 (3.0%) versus the prior year and $15,100 versus the prior month.

Richmond's median listing price comes in at 88% of the national average.

Richmond's average listing price for 2022-04-01 was $459,959, a difference of $20,971 (4.8%) versus the prior year and $15,731 versus the prior month.

For the 2022-04-01 period, Richmond had 1,156 MLS listings, a difference of 119 listings (11%) versus the prior month and -373 listings (-24%) 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 72 days 2,171 sqft
2018-02-01 60 days 2,206 sqft
2018-03-01 48 days 2,254 sqft
2018-04-01 49 days 2,292 sqft
2018-05-01 46 days 2,330 sqft
2018-06-01 48 days 2,306 sqft
2018-07-01 51 days 2,310 sqft
2018-08-01 52 days 2,254 sqft
2018-09-01 56 days 2,228 sqft
2018-10-01 58 days 2,198 sqft
2018-11-01 57 days 2,212 sqft
2018-12-01 65 days 2,201 sqft
2019-01-01 71 days 2,194 sqft
2019-02-01 64 days 2,206 sqft
2019-03-01 49 days 2,235 sqft
2019-04-01 44 days 2,269 sqft
2019-05-01 46 days 2,289 sqft
2019-06-01 49 days 2,286 sqft
2019-07-01 51 days 2,280 sqft
2019-08-01 51 days 2,239 sqft
2019-09-01 56 days 2,210 sqft
2019-10-01 53 days 2,198 sqft
2019-11-01 56 days 2,179 sqft
2019-12-01 67 days 2,177 sqft
2020-01-01 71 days 2,182 sqft
2020-02-01 59 days 2,192 sqft
2020-03-01 44 days 2,247 sqft
2020-04-01 44 days 2,254 sqft
2020-05-01 53 days 2,274 sqft
2020-06-01 56 days 2,291 sqft
2020-07-01 51 days 2,250 sqft
2020-08-01 49 days 2,267 sqft
2020-09-01 44 days 2,216 sqft
2020-10-01 42 days 2,230 sqft
2020-11-01 48 days 2,216 sqft
2020-12-01 55 days 2,130 sqft
2021-01-01 55 days 2,100 sqft
2021-02-01 49 days 2,078 sqft
2021-03-01 45 days 2,076 sqft
2021-04-01 39 days 2,074 sqft
2021-05-01 38 days 2,031 sqft
2021-06-01 37 days 2,024 sqft
2021-07-01 38 days 1,985 sqft
2021-08-01 38 days 1,998 sqft
2021-09-01 42 days 1,947 sqft
2021-10-01 43 days 1,965 sqft
2021-11-01 45 days 1,957 sqft
2021-12-01 50 days 1,963 sqft
2022-01-01 56 days 2,004 sqft
2022-02-01 42 days 1,977 sqft
2022-03-01 34 days 1,905 sqft
2022-04-01 35 days 1,946 sqft
Richmond's median listing age (time on market) for 2022-04-01 was 35 days. This is -10% shorter than the same period one year ago.

Richmond's median square footage for active listings during the 2022-04-01 period was 1,946 sqft. One year prior, the average listing was 2,074 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.