Salt Lake City VA Loan Rates, Closing Costs & Stats
SALT LAKE CITY, UT
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.
Salt Lake City's 87 lenders originated 688 VA loans during 2023. The total origination value was $353,280,000, with an average VA loan value of $513,488.
Salt Lake City VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Salt Lake City
averaged
6.22%
for the week of 2024-12-06, compared to the national average (all VA variants) of
6.143% for the same period.
Salt Lake City's average VA mortgage closing costs are $7,535.
The average rate for the prior week (2024-11-29) was
6.21% and
one month ago for the week of 2024-11-01, the
average rate was 6.27%.
The average rate one year ago was 6.72%.
For refis of the same type during the week of 2024-12-06, the average rate
was 6.58%.
Salt Lake City 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 Salt Lake City level.
The top Salt Lake City VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
145 VA loans originated. Their average total fees are
$9,539, which is $2,148
lower than the next largest lender,
INTERCAP LENDING INC..
The lowest fee Salt Lake City VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION ($4,807), Mortgage Research Center, LLC ($7,074), FIRST COLONY MORTGAGE CORPORATION ($9,413), UNITED WHOLESALE MORTGAGE, LLC ($9,539) and USAA Federal Savings Bank ($10,303).
The lowest rate Salt Lake City VA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (5.72%), DHI MORTGAGE COMPANY, LTD. (5.81%), NAVY FEDERAL CREDIT UNION (5.82%), Plains Commerce Bank (5.89%) and CITYWIDE HOME LOANS, LLC (5.98%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Salt Lake City (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 | $386,972 (8.3%) | $542,512 (2.6%) | 1.43 | 2,090 |
2018-02-01 | $390,000 (5.0%) | $553,438 (1.3%) | 1.42 | 1,909 |
2018-03-01 | $402,960 (2.6%) | $576,283 (1.3%) | 1.41 | 1,859 |
2018-04-01 | $417,475 (5.9%) | $581,928 (1.6%) | 1.42 | 2,037 |
2018-05-01 | $424,036 (8.1%) | $585,001 (4.4%) | 1.42 | 2,228 |
2018-06-01 | $421,460 (6.9%) | $586,497 (5.7%) | 1.41 | 2,484 |
2018-07-01 | $422,898 (8.4%) | $586,085 (9.0%) | 1.41 | 2,630 |
2018-08-01 | $405,931 (4.3%) | $561,543 (7.8%) | 1.36 | 2,989 |
2018-09-01 | $405,000 (6.6%) | $553,575 (9.5%) | 1.36 | 3,136 |
2018-10-01 | $399,448 (6.0%) | $544,079 (8.8%) | 1.35 | 3,336 |
2018-11-01 | $399,000 (7.3%) | $538,969 (8.9%) | 1.35 | 3,219 |
2018-12-01 | $399,000 (6.4%) | $542,294 (7.0%) | 1.38 | 2,868 |
2019-01-01 | $399,900 (3.3%) | $542,473 (0.0%) | 1.38 | 2,588 |
2019-02-01 | $409,751 (5.1%) | $558,169 (0.9%) | 1.38 | 2,413 |
2019-03-01 | $425,671 (5.6%) | $573,574 (-0.5%) | 1.39 | 2,382 |
2019-04-01 | $437,560 (4.8%) | $577,091 (-0.8%) | 1.39 | 2,439 |
2019-05-01 | $442,495 (4.4%) | $578,519 (-1.1%) | 1.38 | 2,725 |
2019-06-01 | $442,850 (5.1%) | $576,611 (-1.7%) | 1.38 | 2,927 |
2019-07-01 | $437,450 (3.4%) | $571,718 (-2.5%) | 1.37 | 2,920 |
2019-08-01 | $435,836 (7.4%) | $569,754 (1.5%) | 1.38 | 2,888 |
2019-09-01 | $429,741 (6.1%) | $563,830 (1.9%) | 1.38 | 2,876 |
2019-10-01 | $425,000 (6.4%) | $564,531 (3.8%) | 1.37 | 2,852 |
2019-11-01 | $430,000 (7.8%) | $585,308 (8.6%) | 1.41 | 2,493 |
2019-12-01 | $442,494 (10.9%) | $607,272 (12.0%) | 1.48 | 1,976 |
2020-01-01 | $446,792 (11.7%) | $626,861 (15.6%) | 1.49 | 1,656 |
2020-02-01 | $467,700 (14.1%) | $662,875 (18.8%) | 1.53 | 1,407 |
2020-03-01 | $470,515 (10.5%) | $659,329 (15.0%) | 1.48 | 1,574 |
2020-04-01 | $447,476 (2.3%) | $600,840 (4.1%) | 1.40 | 2,189 |
2020-05-01 | $458,000 (3.5%) | $606,769 (4.9%) | 1.39 | 2,114 |
2020-06-01 | $476,750 (7.7%) | $643,885 (11.7%) | 1.40 | 1,855 |
2020-07-01 | $482,125 (10.2%) | $670,221 (17.2%) | 1.40 | 1,629 |
2020-08-01 | $479,999 (10.1%) | $689,916 (21.1%) | 1.38 | 1,570 |
2020-09-01 | $473,700 (10.2%) | $691,861 (22.7%) | 1.36 | 1,486 |
2020-10-01 | $479,950 (12.9%) | $710,384 (25.8%) | 1.38 | 1,381 |
2020-11-01 | $499,775 (16.2%) | $763,765 (30.5%) | 1.46 | 1,128 |
2020-12-01 | $538,032 (21.6%) | $830,051 (36.7%) | 1.60 | 857 |
2021-01-01 | $585,000 (30.9%) | $902,952 (44.0%) | 1.75 | 622 |
2021-02-01 | $580,879 (24.2%) | $866,304 (30.7%) | 1.69 | 525 |
2021-03-01 | $528,630 (12.4%) | $825,159 (25.2%) | 1.50 | 623 |
2021-04-01 | $549,850 (22.9%) | $823,945 (37.1%) | 1.49 | 652 |
2021-05-01 | $570,000 (24.5%) | $775,676 (27.8%) | 1.51 | 715 |
2021-06-01 | $566,950 (18.9%) | $759,297 (17.9%) | 1.49 | 898 |
2021-07-01 | $559,079 (16.0%) | $761,462 (13.6%) | 1.48 | 1,105 |
2021-08-01 | $563,248 (17.3%) | $744,339 (7.9%) | 1.50 | 1,272 |
2021-09-01 | $542,450 (14.5%) | $723,946 (4.6%) | 1.45 | 1,389 |
2021-10-01 | $539,900 (12.5%) | $726,706 (2.3%) | 1.44 | 1,339 |
2021-11-01 | $552,400 (10.5%) | $739,404 (-3.2%) | 1.48 | 1,065 |
2021-12-01 | $563,970 (4.8%) | $742,234 (-10.6%) | 1.53 | 686 |
2022-01-01 | $565,000 (-3.4%) | $732,575 (-18.9%) | 1.53 | 489 |
2022-02-01 | $555,000 (-4.5%) | $749,522 (-13.5%) | 1.44 | 472 |
2022-03-01 | $582,500 (10.2%) | $770,132 (-6.7%) | 1.46 | 572 |
2022-04-01 | $624,950 (13.7%) | $764,430 (-7.2%) | 1.49 | 764 |
2022-05-01 | $637,500 (11.8%) | $784,861 (1.2%) | 1.46 | 1,329 |
2022-06-01 | $632,450 (11.6%) | $782,387 (3.0%) | 1.41 | 1,854 |
2022-07-01 | $615,000 (10.0%) | $753,832 (-1.0%) | 1.39 | 2,544 |
2022-08-01 | $598,450 (6.3%) | $738,042 (-0.9%) | 1.38 | 2,668 |
2022-09-01 | $580,250 (7.0%) | $735,074 (1.5%) | 1.36 | 2,715 |
2022-10-01 | $574,900 (6.5%) | $719,675 (-1.0%) | 1.35 | 2,918 |
2022-11-01 | $550,000 (-0.4%) | $715,491 (-3.2%) | 1.32 | 2,779 |
2022-12-01 | $549,945 (-2.5%) | $716,621 (-3.5%) | 1.36 | 2,289 |
2023-01-01 | $559,125 (-1.0%) | $729,539 (-0.4%) | 1.39 | 1,947 |
2023-02-01 | $569,950 (2.7%) | $746,243 (-0.4%) | 1.38 | 1,633 |
2023-03-01 | $589,975 (1.3%) | $751,748 (-2.4%) | 1.39 | 1,546 |
2023-04-01 | $609,481 (-2.5%) | $792,254 (3.6%) | 1.42 | 1,498 |
2023-05-01 | $635,000 (-0.4%) | $815,095 (3.9%) | 1.44 | 1,682 |
2023-06-01 | $625,233 (-1.1%) | $808,679 (3.4%) | 1.41 | 1,925 |
2023-07-01 | $629,000 (2.3%) | $813,345 (7.9%) | 1.43 | 2,055 |
2023-08-01 | $605,000 (1.1%) | $795,765 (7.8%) | 1.39 | 2,203 |
2023-09-01 | $599,000 (3.2%) | $789,245 (7.4%) | 1.39 | 2,429 |
2023-10-01 | $589,075 (2.5%) | $774,337 (7.6%) | 1.39 | 2,561 |
2023-11-01 | $579,475 (5.4%) | $765,030 (6.9%) | 1.38 | 2,447 |
2023-12-01 | $574,900 (4.5%) | $762,957 (6.5%) | 1.40 | 2,223 |
2024-01-01 | $572,425 (2.4%) | $775,484 (6.3%) | 1.40 | 1,862 |
2024-02-01 | $569,000 (-0.2%) | $771,147 (3.3%) | 1.37 | 1,740 |
2024-03-01 | $579,999 (-1.7%) | $785,386 (4.5%) | 1.37 | 1,717 |
2024-04-01 | $598,500 (-1.8%) | $799,762 (1.0%) | 1.39 | 1,933 |
2024-05-01 | $620,450 (-2.3%) | $826,081 (1.4%) | 1.40 | 2,211 |
2024-06-01 | $614,900 (-1.7%) | $826,100 (2.2%) | 1.38 | 2,423 |
2024-07-01 | $593,425 (-5.7%) | $790,994 (-2.8%) | 1.36 | 2,512 |
2024-08-01 | $589,000 (-2.6%) | $779,140 (-2.1%) | 1.37 | 2,718 |
2024-09-01 | $580,000 (-3.2%) | $780,246 (-1.1%) | 1.36 | 2,902 |
2024-10-01 | $581,200 (-1.3%) | $777,119 (0.4%) | 1.37 | 2,916 |
2024-11-01 | $575,000 (-0.8%) | $769,851 (0.6%) | 0.00 | 2,837 |
Salt Lake City's median listing price comes in at 0% of the national average.
Salt Lake City's average listing price for 2024-11-01 was $769,851, a difference of $4,821 (0.6%) versus the prior year and $-7,268 versus the prior month.
For the 2024-11-01 period, Salt Lake City had 2,837 MLS listings, a difference of -79 listings (-3%) versus the prior month and 390 listings (16%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Salt Lake City (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 52 days | 2,800 sqft |
2018-02-01 | 41 days | 2,856 sqft |
2018-03-01 | 31 days | 2,999 sqft |
2018-04-01 | 29 days | 2,995 sqft |
2018-05-01 | 26 days | 3,013 sqft |
2018-06-01 | 29 days | 2,988 sqft |
2018-07-01 | 31 days | 2,938 sqft |
2018-08-01 | 30 days | 2,782 sqft |
2018-09-01 | 35 days | 2,734 sqft |
2018-10-01 | 36 days | 2,650 sqft |
2018-11-01 | 43 days | 2,660 sqft |
2018-12-01 | 52 days | 2,700 sqft |
2019-01-01 | 58 days | 2,706 sqft |
2019-02-01 | 50 days | 2,791 sqft |
2019-03-01 | 39 days | 2,867 sqft |
2019-04-01 | 33 days | 2,942 sqft |
2019-05-01 | 31 days | 2,921 sqft |
2019-06-01 | 33 days | 2,896 sqft |
2019-07-01 | 38 days | 2,847 sqft |
2019-08-01 | 39 days | 2,791 sqft |
2019-09-01 | 38 days | 2,706 sqft |
2019-10-01 | 39 days | 2,664 sqft |
2019-11-01 | 45 days | 2,678 sqft |
2019-12-01 | 58 days | 2,724 sqft |
2020-01-01 | 63 days | 2,802 sqft |
2020-02-01 | 39 days | 2,940 sqft |
2020-03-01 | 24 days | 2,876 sqft |
2020-04-01 | 28 days | 2,697 sqft |
2020-05-01 | 36 days | 2,653 sqft |
2020-06-01 | 36 days | 2,652 sqft |
2020-07-01 | 32 days | 2,599 sqft |
2020-08-01 | 29 days | 2,516 sqft |
2020-09-01 | 29 days | 2,417 sqft |
2020-10-01 | 28 days | 2,394 sqft |
2020-11-01 | 31 days | 2,431 sqft |
2020-12-01 | 36 days | 2,571 sqft |
2021-01-01 | 31 days | 2,552 sqft |
2021-02-01 | 13 days | 2,557 sqft |
2021-03-01 | 8 days | 2,390 sqft |
2021-04-01 | 8 days | 2,346 sqft |
2021-05-01 | 9 days | 2,402 sqft |
2021-06-01 | 11 days | 2,432 sqft |
2021-07-01 | 16 days | 2,437 sqft |
2021-08-01 | 19 days | 2,457 sqft |
2021-09-01 | 21 days | 2,402 sqft |
2021-10-01 | 24 days | 2,402 sqft |
2021-11-01 | 25 days | 2,402 sqft |
2021-12-01 | 35 days | 2,475 sqft |
2022-01-01 | 38 days | 2,475 sqft |
2022-02-01 | 25 days | 2,344 sqft |
2022-03-01 | 21 days | 2,364 sqft |
2022-04-01 | 19 days | 2,402 sqft |
2022-05-01 | 19 days | 2,558 sqft |
2022-06-01 | 24 days | 2,524 sqft |
2022-07-01 | 30 days | 2,473 sqft |
2022-08-01 | 37 days | 2,412 sqft |
2022-09-01 | 44 days | 2,402 sqft |
2022-10-01 | 46 days | 2,394 sqft |
2022-11-01 | 53 days | 2,379 sqft |
2022-12-01 | 67 days | 2,396 sqft |
2023-01-01 | 74 days | 2,411 sqft |
2023-02-01 | 62 days | 2,463 sqft |
2023-03-01 | 45 days | 2,574 sqft |
2023-04-01 | 41 days | 2,674 sqft |
2023-05-01 | 36 days | 2,692 sqft |
2023-06-01 | 36 days | 2,661 sqft |
2023-07-01 | 38 days | 2,630 sqft |
2023-08-01 | 42 days | 2,517 sqft |
2023-09-01 | 43 days | 2,450 sqft |
2023-10-01 | 46 days | 2,417 sqft |
2023-11-01 | 54 days | 2,426 sqft |
2023-12-01 | 63 days | 2,405 sqft |
2024-01-01 | 67 days | 2,406 sqft |
2024-02-01 | 54 days | 2,370 sqft |
2024-03-01 | 44 days | 2,370 sqft |
2024-04-01 | 38 days | 2,416 sqft |
2024-05-01 | 34 days | 2,533 sqft |
2024-06-01 | 39 days | 2,492 sqft |
2024-07-01 | 45 days | 2,406 sqft |
2024-08-01 | 46 days | 2,398 sqft |
2024-09-01 | 51 days | 2,364 sqft |
2024-10-01 | 54 days | 2,362 sqft |
2024-11-01 | 0 days | 2,340 sqft |
Salt Lake City's median square footage for active listings during the 2024-11-01 period was 2,340 sqft. One year prior, the average listing was 2,426 sqft.