Salt Lake City VA Loan Rates, Closing Costs & Stats

SALT LAKE CITY, UT

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 6.6% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Salt Lake City's average VA mortgage closing costs are $7,535.

    The average rate for the prior week (2025-02-07) was 6.53% and one month ago for the week of 2025-01-10, the average rate was 6.37%.

    The average rate one year ago was 6.39%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.87%.

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

    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.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 145 6.10% $9,539
    INTERCAP LENDING INC. 45 6.35% $11,687
    Mortgage Research Center, LLC 38 6.46% $7,074
    QUICKEN LOANS, LLC 32 6.12% $16,561
    DHI MORTGAGE COMPANY, LTD. 29 5.81% $10,773
    SECURITYNATIONAL MORTGAGE COMPANY 23 6.39% $18,015
    The Federal Savings Bank 16 6.40% $21,373
    FIRST COLONY MORTGAGE CORPORATION 16 6.16% $9,413
    CITYWIDE HOME LOANS, LLC 16 5.98% $15,463
    FREEDOM MORTGAGE CORPORATION 15 6.46% $22,540
    Plains Commerce Bank 14 5.89% $12,784
    ACADEMY MORTGAGE CORPORATION 13 6.27% $12,116
    PENNYMAC LOAN SERVICES, LLC 13 5.72% $18,977
    USAA Federal Savings Bank 13 6.18% $10,303
    NAVY FEDERAL CREDIT UNION 12 5.82% $4,807
    NEWREZ LLC 10 6.09% $13,998
    CARDINAL FINANCIAL 10 6.15% $15,295
    VILLAGE CAPITAL MORTGAGE 9 6.21% $16,119
    GUARANTEED RATE, INC. 9 6.02% $8,987
    BROKER SOLUTIONS, INC. 9 6.24% $17,509
    LOANDEPOT.COM, LLC 8 6.34% $18,453
    CROSSCOUNTRY MORTGAGE, LLC 8 6.36% $12,401
    RANLIFE, INC. 8 6.05% $16,138
    SECURITY HOME MORTGAGE, LLC. 7 5.66% $8,286
    MY MOVE MORTGAGE, LLC 7 6.21% $16,804
    AMERICAN PACIFIC MORTGAGE CORPORATION 6 6.67% $6,944
    Barrington Bank & Trust Company, N.A. 6 6.17% $15,057
    Century Mortgage Company DBA Century Lending Company 6 6.04% $6,650
    VERITAS FUNDING, LLC 6 6.17% $15,276
    HOMEAMERICAN MORTGAGE CORPORATION 6 5.60% $4,496
    Magnolia Bank 5 6.38% $19,566
    NBKC BANK 4 6.09% $6,866
    SUN WEST MORTGAGE COMPANY, INC. 4 6.28% $8,665
    Paramount Residential Mortgage Group, Inc. 4 6.15% $13,093
    LAKEVIEW LOAN SERVICING, LLC 3 6.58% $8,823
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.96% $20,296
    EVERETT FINANCIAL, INC. 3 6.00% $14,031
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.83% $12,663
    GUILD MORTGAGE COMPANY 3 6.38% $19,932
    NEST HOME LENDING, LLC 3 5.29% $2,255
    PLAZA HOME MORTGAGE, INC. 3 6.88% $17,552
    Mr. Cooper ( Nationstar Mortgage ) 2 6.50% $28,808
    MASON MCDUFFIE MORTGAGE CORPORATION 2 7.00% $14,515
    Equity Prime Mortgage LLC 2 6.75% $35,163
    MOUNTAIN AMERICA 2 6.56% $9,257
    DIRECT MORTGAGE, CORP. 2 6.50% $18,522
    Wells Fargo Bank 2 5.44% $4,004
    Network Funding, L.P. 2 6.50% $19,166
    CONTOUR MORTGAGE CORPORATION 2 6.69% $16,923
    PACIFIC RESIDENTIAL MORTGAGE, LLC 2 7.00% $18,272
    CMG MORTGAGE, INC. 2 5.63% $4,513
    PENTAGON FEDERAL CREDIT UNION 2 5.56% $3,834
    Zions Bank 2 6.00% $5,514
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.44% $27,303
    CASTLE & COOKE MORTGAGE, LLC 2 6.25% $9,207
    BAY EQUITY LLC 2 6.00% $11,460
    AMERISAVE MORTGAGE CORPORATION 2 5.69% $24,979
    AMERICAN FINANCIAL NETWORK, INC. 2 6.88% $11,138
    AMERICA FIRST 2 5.56% $14,387
    Northpointe Bank 1 6.25% $6,265
    ON Q FINANCIAL, INC. 1 6.49% $3,115
    AXIA FINANCIAL, LLC 1 6.25% $4,350
    Ameris Bank 1 5.25% $4,403
    CLM MORTGAGE, INC 1 6.00% $16,323
    HOMESIDE FINANCIAL, LLC 1 6.63% $14,819
    CHERRY CREEK MORTGAGE, LLC 1 6.00% $824
    PLANET HOME LENDING, LLC 1 6.25% $3,075
    American Mortgage & Equity Consultants, Inc. 1 6.63% $13,985
    Presidential Bank, FSB 1 7.00% $4,544
    U.S. Bank 1 5.99% $18,021
    JPMorgan Chase Bank 1 6.13% $1,294
    Glacier Bank 1 5.63% $25,604
    GENEVA FINANCIAL, LLC 1 7.50% $6,548
    Flagstar Bank, FSB 1 5.63% $18,036
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.75% $9,723
    MORTGAGEONE, INC. 1 7.25% $18,889
    Utah Mortgage Loan Corporation 1 5.00% $9,411
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.63% $16,963
    CANOPY MORTGAGE, LLC 1 5.63% $19,043
    GUARANTEED RATE AFFINITY, LLC 1 7.75% $1,794
    DRAPER AND KRAMER MORTGAGE CORP. 1 5.63% $7,074
    S1L, Inc. 1 6.25% $14,306
    NBH Bank 1 6.62% $6,557
    CORNERSTONE HOME LENDING, INC. 1 6.25% $0
    Guaranty Bank & Trust, N.A. 1 6.75% $7,762
    Bank of Utah 1 6.63% $16,698
    Sierra Pacific Mortgage Company, Inc. 1 5.63% $4,779

    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. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $386,923 (8.6%) $542,664 (2.6%) 1.43 2,087
    2018-02-01 $389,998 (5.2%) $553,476 (1.3%) 1.42 1,907
    2018-03-01 $402,930 (2.7%) $576,303 (1.3%) 1.41 1,858
    2018-04-01 $417,447 (5.9%) $582,077 (1.6%) 1.42 2,034
    2018-05-01 $423,719 (8.0%) $585,039 (4.4%) 1.42 2,226
    2018-06-01 $421,460 (6.9%) $586,497 (5.7%) 1.41 2,484
    2018-07-01 $422,765 (8.4%) $586,104 (9.0%) 1.41 2,629
    2018-08-01 $405,600 (4.6%) $561,552 (7.8%) 1.36 2,988
    2018-09-01 $404,993 (6.6%) $553,625 (9.5%) 1.36 3,134
    2018-10-01 $399,317 (6.1%) $544,099 (8.8%) 1.35 3,331
    2018-11-01 $399,000 (7.6%) $538,966 (8.9%) 1.35 3,214
    2018-12-01 $399,000 (6.4%) $542,276 (7.0%) 1.38 2,864
    2019-01-01 $399,767 (3.3%) $542,462 (0.0%) 1.38 2,586
    2019-02-01 $409,500 (5.0%) $558,178 (0.9%) 1.38 2,410
    2019-03-01 $425,671 (5.6%) $573,632 (-0.5%) 1.39 2,377
    2019-04-01 $437,121 (4.7%) $577,176 (-0.8%) 1.39 2,432
    2019-05-01 $442,425 (4.4%) $578,554 (-1.1%) 1.38 2,721
    2019-06-01 $441,154 (4.7%) $576,651 (-1.7%) 1.38 2,922
    2019-07-01 $437,450 (3.5%) $571,750 (-2.5%) 1.37 2,915
    2019-08-01 $435,836 (7.5%) $569,807 (1.5%) 1.38 2,881
    2019-09-01 $429,741 (6.1%) $563,916 (1.9%) 1.38 2,863
    2019-10-01 $425,000 (6.4%) $564,647 (3.8%) 1.37 2,838
    2019-11-01 $429,900 (7.7%) $585,417 (8.6%) 1.41 2,486
    2019-12-01 $442,450 (10.9%) $607,559 (12.0%) 1.48 1,965
    2020-01-01 $446,268 (11.6%) $627,206 (15.6%) 1.49 1,649
    2020-02-01 $467,000 (14.0%) $663,063 (18.8%) 1.53 1,404
    2020-03-01 $470,475 (10.5%) $659,355 (14.9%) 1.48 1,573
    2020-04-01 $446,553 (2.2%) $600,787 (4.1%) 1.40 2,185
    2020-05-01 $456,945 (3.3%) $606,643 (4.9%) 1.39 2,110
    2020-06-01 $476,225 (8.0%) $643,883 (11.7%) 1.40 1,853
    2020-07-01 $482,000 (10.2%) $670,226 (17.2%) 1.40 1,627
    2020-08-01 $479,999 (10.1%) $689,916 (21.1%) 1.38 1,570
    2020-09-01 $473,600 (10.2%) $691,909 (22.7%) 1.36 1,486
    2020-10-01 $479,900 (12.9%) $710,466 (25.8%) 1.38 1,381
    2020-11-01 $499,775 (16.3%) $763,765 (30.5%) 1.46 1,128
    2020-12-01 $538,032 (21.6%) $830,051 (36.6%) 1.60 857
    2021-01-01 $579,900 (29.9%) $904,593 (44.2%) 1.75 622
    2021-02-01 $577,350 (23.6%) $867,737 (30.9%) 1.69 520
    2021-03-01 $528,630 (12.4%) $825,159 (25.2%) 1.50 623
    2021-04-01 $549,850 (23.1%) $823,945 (37.1%) 1.49 652
    2021-05-01 $570,000 (24.7%) $775,676 (27.9%) 1.51 715
    2021-06-01 $566,950 (19.1%) $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 $562,800 (17.3%) $744,267 (7.9%) 1.50 1,271
    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 (-2.6%) $732,575 (-19.0%) 1.53 489
    2022-02-01 $555,000 (-3.9%) $749,310 (-13.7%) 1.44 472
    2022-03-01 $582,500 (10.2%) $770,003 (-6.7%) 1.46 572
    2022-04-01 $624,950 (13.7%) $764,139 (-7.3%) 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 (-0.8%) 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 (3.7%) 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%) $795,681 (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 $579,950 (-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 $615,425 (-3.1%) $814,455 (-0.1%) 1.40 2,211
    2024-06-01 $601,900 (-3.7%) $810,671 (0.3%) 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%) 1.38 2,838
    2024-12-01 $571,950 (-0.5%) $763,723 (0.1%) 1.42 2,388
    2025-01-01 $567,495 (-0.9%) $757,978 (-2.3%) 0.00 2,235
    Salt Lake City's median listing price for 2025-01-01 was $567,495, a difference of $-4,930 (-0.9%) versus the prior year and $-4,455 versus the prior month.

    Salt Lake City's median listing price comes in at 0% of the national average.

    Salt Lake City's average listing price for 2025-01-01 was $757,978, a difference of $-17,506 (-2.3%) versus the prior year and $-5,745 versus the prior month.

    For the 2025-01-01 period, Salt Lake City had 2,235 MLS listings, a difference of -153 listings (-6%) versus the prior month and 373 listings (20%) 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. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 52 days 2,796 sqft
    2018-02-01 41 days 2,855 sqft
    2018-03-01 31 days 2,998 sqft
    2018-04-01 29 days 2,987 sqft
    2018-05-01 26 days 3,012 sqft
    2018-06-01 29 days 2,988 sqft
    2018-07-01 31 days 2,936 sqft
    2018-08-01 30 days 2,781 sqft
    2018-09-01 35 days 2,730 sqft
    2018-10-01 36 days 2,649 sqft
    2018-11-01 43 days 2,656 sqft
    2018-12-01 52 days 2,697 sqft
    2019-01-01 58 days 2,705 sqft
    2019-02-01 50 days 2,788 sqft
    2019-03-01 39 days 2,861 sqft
    2019-04-01 33 days 2,935 sqft
    2019-05-01 31 days 2,920 sqft
    2019-06-01 33 days 2,892 sqft
    2019-07-01 38 days 2,845 sqft
    2019-08-01 39 days 2,787 sqft
    2019-09-01 38 days 2,701 sqft
    2019-10-01 39 days 2,661 sqft
    2019-11-01 45 days 2,675 sqft
    2019-12-01 58 days 2,714 sqft
    2020-01-01 63 days 2,796 sqft
    2020-02-01 39 days 2,940 sqft
    2020-03-01 24 days 2,875 sqft
    2020-04-01 28 days 2,695 sqft
    2020-05-01 36 days 2,650 sqft
    2020-06-01 36 days 2,650 sqft
    2020-07-01 32 days 2,593 sqft
    2020-08-01 29 days 2,516 sqft
    2020-09-01 29 days 2,416 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 2,528 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 2,338 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 2,515 sqft
    2023-09-01 43 days 2,448 sqft
    2023-10-01 46 days 2,417 sqft
    2023-11-01 54 days 2,425 sqft
    2023-12-01 63 days 2,405 sqft
    2024-01-01 67 days 2,404 sqft
    2024-02-01 54 days 2,370 sqft
    2024-03-01 44 days 2,370 sqft
    2024-04-01 38 days 2,415 sqft
    2024-05-01 34 days 2,518 sqft
    2024-06-01 39 days 2,452 sqft
    2024-07-01 45 days 2,406 sqft
    2024-08-01 46 days 2,398 sqft
    2024-09-01 51 days 2,363 sqft
    2024-10-01 54 days 2,362 sqft
    2024-11-01 57 days 2,340 sqft
    2024-12-01 65 days 2,296 sqft
    2025-01-01 0 days 2,301 sqft
    Salt Lake City's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Salt Lake City's median square footage for active listings during the 2025-01-01 period was 2,301 sqft. One year prior, the average listing was 2,404 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.