San Jose VA Loan Rates, Closing Costs & Stats
SAN JOSE-SUNNYVALE-SANTA CLARA, CA
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.
San Jose's 60 lenders originated 299 VA loans during 2022. The total origination value was $227,255,000, with an average VA loan value of $760,050.
San Jose VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in San Jose
averaged
5.46%
for the week of 2023-12-08, compared to the national average (all VA variants) of
6.544% for the same period.
San Jose's average VA mortgage closing costs are $10,261.
The average rate for the prior week (2023-12-01) was
5.96% and
one month ago for the week of 2023-11-03, the
average rate was 6.1%.
The average rate one year ago was 5.27%.
For refis of the same type during the week of 2023-12-08, the average rate
was 4.36%.
San Jose 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 San Jose level.
The top San Jose VA lender as defined by loan originations is QUICKEN LOANS, LLC, with
44 VA loans originated. Their average total fees are
$16,968, which is $4,538
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee San Jose VA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC ($15,426), LOANDEPOT.COM, LLC ($16,741), Mortgage Research Center, LLC ($16,935), QUICKEN LOANS, LLC ($16,968) and UNITED WHOLESALE MORTGAGE, LLC ($21,506).
The lowest rate San Jose VA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (2.82%), QUICKEN LOANS, LLC (3.62%), UNITED WHOLESALE MORTGAGE, LLC (3.90%), LOANDEPOT.COM, LLC (3.94%) and Mortgage Research Center, LLC (4.72%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - San Jose (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 | $1,110,250 (23.5%) | $1,829,513 (28.3%) | 4.12 | 570 |
2018-02-01 | $1,199,444 (25.7%) | $1,810,403 (21.6%) | 4.36 | 677 |
2018-03-01 | $1,285,000 (32.8%) | $1,861,071 (23.7%) | 4.51 | 800 |
2018-04-01 | $1,254,444 (26.9%) | $1,863,877 (24.3%) | 4.25 | 994 |
2018-05-01 | $1,293,000 (29.4%) | $1,830,094 (11.6%) | 4.32 | 1,198 |
2018-06-01 | $1,250,000 (24.4%) | $1,788,116 (7.2%) | 4.17 | 1,441 |
2018-07-01 | $1,199,944 (14.3%) | $1,710,078 (0.8%) | 4.01 | 1,718 |
2018-08-01 | $1,173,500 (11.8%) | $1,642,858 (-2.2%) | 3.93 | 1,816 |
2018-09-01 | $1,148,000 (4.5%) | $1,618,429 (-13.3%) | 3.86 | 2,059 |
2018-10-01 | $1,099,944 (-1.5%) | $1,590,128 (-14.3%) | 3.73 | 2,147 |
2018-11-01 | $1,089,400 (-6.3%) | $1,539,122 (-21.4%) | 3.69 | 2,052 |
2018-12-01 | $1,000,000 (-13.0%) | $1,507,748 (-23.6%) | 3.45 | 1,459 |
2019-01-01 | $999,888 (-9.9%) | $1,509,950 (-17.5%) | 3.45 | 1,264 |
2019-02-01 | $1,095,250 (-8.7%) | $1,610,619 (-11.0%) | 3.70 | 1,440 |
2019-03-01 | $1,102,769 (-14.2%) | $1,633,737 (-12.2%) | 3.61 | 1,635 |
2019-04-01 | $1,127,230 (-10.1%) | $1,642,203 (-11.9%) | 3.58 | 1,805 |
2019-05-01 | $1,188,000 (-8.1%) | $1,645,803 (-10.1%) | 3.71 | 2,173 |
2019-06-01 | $1,175,000 (-6.0%) | $1,643,086 (-8.1%) | 3.67 | 2,366 |
2019-07-01 | $1,127,250 (-6.1%) | $1,636,557 (-4.3%) | 3.53 | 2,298 |
2019-08-01 | $1,117,816 (-4.8%) | $1,664,401 (1.3%) | 3.54 | 2,189 |
2019-09-01 | $1,121,857 (-2.3%) | $1,681,943 (3.9%) | 3.59 | 2,106 |
2019-10-01 | $1,112,051 (1.1%) | $1,693,637 (6.5%) | 3.59 | 2,021 |
2019-11-01 | $1,100,000 (1.0%) | $1,775,100 (15.3%) | 3.61 | 1,612 |
2019-12-01 | $1,084,194 (8.4%) | $1,798,338 (19.3%) | 3.62 | 989 |
2020-01-01 | $1,088,722 (8.9%) | $1,881,701 (24.6%) | 3.64 | 819 |
2020-02-01 | $1,198,000 (9.4%) | $2,032,748 (26.2%) | 3.93 | 944 |
2020-03-01 | $1,249,805 (13.3%) | $1,990,529 (21.8%) | 3.92 | 1,144 |
2020-04-01 | $1,198,500 (6.3%) | $1,854,244 (12.9%) | 3.75 | 1,349 |
2020-05-01 | $1,200,500 (1.1%) | $1,858,819 (12.9%) | 3.65 | 1,646 |
2020-06-01 | $1,260,000 (7.2%) | $1,856,022 (13.0%) | 3.71 | 1,656 |
2020-07-01 | $1,249,975 (10.9%) | $1,824,368 (11.5%) | 3.62 | 1,681 |
2020-08-01 | $1,248,000 (11.7%) | $1,806,980 (8.6%) | 3.58 | 1,673 |
2020-09-01 | $1,210,000 (7.9%) | $1,789,686 (6.4%) | 3.47 | 1,668 |
2020-10-01 | $1,229,900 (10.6%) | $1,819,302 (7.4%) | 3.52 | 1,691 |
2020-11-01 | $1,232,124 (12.0%) | $1,897,714 (6.9%) | 3.60 | 1,558 |
2020-12-01 | $1,197,000 (10.4%) | $1,865,030 (3.7%) | 3.56 | 1,153 |
2021-01-01 | $1,199,000 (10.1%) | $1,869,161 (-0.7%) | 3.58 | 971 |
2021-02-01 | $1,223,900 (2.2%) | $1,873,351 (-7.8%) | 3.56 | 1,054 |
2021-03-01 | $1,246,692 (-0.3%) | $1,881,183 (-5.5%) | 3.54 | 1,181 |
2021-04-01 | $1,249,500 (4.3%) | $1,898,349 (2.4%) | 3.38 | 1,252 |
2021-05-01 | $1,298,888 (8.2%) | $1,951,204 (5.0%) | 3.45 | 1,243 |
2021-06-01 | $1,299,444 (3.1%) | $1,967,174 (6.0%) | 3.42 | 1,326 |
2021-07-01 | $1,275,000 (2.0%) | $1,889,262 (3.6%) | 3.36 | 1,410 |
2021-08-01 | $1,250,250 (0.2%) | $1,875,379 (3.8%) | 3.33 | 1,367 |
2021-09-01 | $1,262,639 (4.4%) | $1,902,946 (6.3%) | 3.37 | 1,283 |
2021-10-01 | $1,275,000 (3.7%) | $1,977,104 (8.7%) | 3.40 | 1,189 |
2021-11-01 | $1,244,444 (1.0%) | $1,970,988 (3.9%) | 3.33 | 819 |
2021-12-01 | $1,239,416 (3.5%) | $1,941,596 (4.1%) | 3.36 | 532 |
2022-01-01 | $1,298,888 (8.3%) | $1,932,889 (3.4%) | 3.51 | 489 |
2022-02-01 | $1,356,500 (10.8%) | $1,919,565 (2.5%) | 3.53 | 640 |
2022-03-01 | $1,399,500 (12.3%) | $1,936,123 (2.9%) | 3.50 | 784 |
2022-04-01 | $1,439,000 (15.2%) | $1,909,718 (0.6%) | 3.43 | 907 |
2022-05-01 | $1,496,500 (15.2%) | $1,941,803 (-0.5%) | 3.42 | 1,505 |
2022-06-01 | $1,495,000 (15.1%) | $1,967,593 (0.0%) | 3.33 | 1,754 |
2022-07-01 | $1,400,000 (9.8%) | $1,905,340 (0.9%) | 3.15 | 1,986 |
2022-08-01 | $1,386,500 (10.9%) | $1,913,053 (2.0%) | 3.21 | 1,797 |
2022-09-01 | $1,398,500 (10.8%) | $1,965,247 (3.3%) | 3.27 | 1,553 |
2022-10-01 | $1,399,000 (9.7%) | $2,028,183 (2.6%) | 3.29 | 1,532 |
2022-11-01 | $1,399,000 (12.4%) | $2,028,954 (2.9%) | 3.36 | 1,354 |
2022-12-01 | $1,398,000 (12.8%) | $2,037,289 (4.9%) | 3.45 | 956 |
2023-01-01 | $1,349,000 (3.9%) | $1,949,922 (0.9%) | 3.34 | 823 |
2023-02-01 | $1,399,500 (3.2%) | $2,031,742 (5.8%) | 3.38 | 831 |
2023-03-01 | $1,495,000 (6.8%) | $2,155,081 (11.3%) | 3.53 | 870 |
2023-04-01 | $1,536,500 (6.8%) | $2,206,277 (15.5%) | 3.57 | 884 |
2023-05-01 | $1,530,000 (2.2%) | $2,198,739 (13.2%) | 3.47 | 974 |
2023-06-01 | $1,498,000 (0.2%) | $2,180,149 (10.8%) | 3.37 | 981 |
2023-07-01 | $1,498,000 (7.0%) | $2,175,155 (14.2%) | 3.40 | 953 |
2023-08-01 | $1,474,497 (6.4%) | $2,094,720 (9.5%) | 3.39 | 1,031 |
2023-09-01 | $1,399,000 (0.0%) | $2,001,621 (1.9%) | 3.26 | 1,148 |
2023-10-01 | $1,380,694 (-1.3%) | $1,989,260 (-1.9%) | 3.25 | 1,183 |
2023-11-01 | $1,352,222 (-3.3%) | $1,968,351 (-3.0%) | 3.22 | 1,132 |
San Jose's median listing price comes in at 322% of the national average.
San Jose's average listing price for 2023-11-01 was $1,968,351, a difference of $-60,603 (-3.0%) versus the prior year and $-20,909 versus the prior month.
For the 2023-11-01 period, San Jose had 1,132 MLS listings, a difference of -51 listings (-4%) versus the prior month and -222 listings (-16%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - San Jose (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 26 days | 1,900 sqft |
2018-02-01 | 17 days | 1,895 sqft |
2018-03-01 | 17 days | 1,830 sqft |
2018-04-01 | 18 days | 1,787 sqft |
2018-05-01 | 18 days | 1,794 sqft |
2018-06-01 | 22 days | 1,747 sqft |
2018-07-01 | 26 days | 1,695 sqft |
2018-08-01 | 28 days | 1,661 sqft |
2018-09-01 | 30 days | 1,661 sqft |
2018-10-01 | 31 days | 1,649 sqft |
2018-11-01 | 38 days | 1,631 sqft |
2018-12-01 | 50 days | 1,623 sqft |
2019-01-01 | 52 days | 1,623 sqft |
2019-02-01 | 25 days | 1,663 sqft |
2019-03-01 | 27 days | 1,688 sqft |
2019-04-01 | 28 days | 1,709 sqft |
2019-05-01 | 25 days | 1,753 sqft |
2019-06-01 | 32 days | 1,736 sqft |
2019-07-01 | 38 days | 1,722 sqft |
2019-08-01 | 40 days | 1,720 sqft |
2019-09-01 | 42 days | 1,716 sqft |
2019-10-01 | 44 days | 1,716 sqft |
2019-11-01 | 56 days | 1,752 sqft |
2019-12-01 | 73 days | 1,788 sqft |
2020-01-01 | 53 days | 1,764 sqft |
2020-02-01 | 23 days | 1,830 sqft |
2020-03-01 | 22 days | 1,808 sqft |
2020-04-01 | 35 days | 1,774 sqft |
2020-05-01 | 36 days | 1,796 sqft |
2020-06-01 | 35 days | 1,774 sqft |
2020-07-01 | 33 days | 1,713 sqft |
2020-08-01 | 33 days | 1,663 sqft |
2020-09-01 | 37 days | 1,632 sqft |
2020-10-01 | 36 days | 1,614 sqft |
2020-11-01 | 42 days | 1,585 sqft |
2020-12-01 | 51 days | 1,541 sqft |
2021-01-01 | 41 days | 1,553 sqft |
2021-02-01 | 25 days | 1,576 sqft |
2021-03-01 | 25 days | 1,591 sqft |
2021-04-01 | 29 days | 1,607 sqft |
2021-05-01 | 25 days | 1,663 sqft |
2021-06-01 | 23 days | 1,649 sqft |
2021-07-01 | 25 days | 1,624 sqft |
2021-08-01 | 30 days | 1,599 sqft |
2021-09-01 | 31 days | 1,624 sqft |
2021-10-01 | 36 days | 1,615 sqft |
2021-11-01 | 51 days | 1,607 sqft |
2021-12-01 | 66 days | 1,547 sqft |
2022-01-01 | 39 days | 1,585 sqft |
2022-02-01 | 12 days | 1,600 sqft |
2022-03-01 | 16 days | 1,630 sqft |
2022-04-01 | 16 days | 1,663 sqft |
2022-05-01 | 17 days | 1,666 sqft |
2022-06-01 | 24 days | 1,675 sqft |
2022-07-01 | 29 days | 1,670 sqft |
2022-08-01 | 37 days | 1,682 sqft |
2022-09-01 | 38 days | 1,690 sqft |
2022-10-01 | 36 days | 1,715 sqft |
2022-11-01 | 40 days | 1,720 sqft |
2022-12-01 | 53 days | 1,722 sqft |
2023-01-01 | 53 days | 1,686 sqft |
2023-02-01 | 30 days | 1,729 sqft |
2023-03-01 | 27 days | 1,758 sqft |
2023-04-01 | 27 days | 1,780 sqft |
2023-05-01 | 25 days | 1,778 sqft |
2023-06-01 | 29 days | 1,772 sqft |
2023-07-01 | 30 days | 1,717 sqft |
2023-08-01 | 27 days | 1,731 sqft |
2023-09-01 | 29 days | 1,693 sqft |
2023-10-01 | 31 days | 1,659 sqft |
2023-11-01 | 34 days | 1,613 sqft |
San Jose's median square footage for active listings during the 2023-11-01 period was 1,613 sqft. One year prior, the average listing was 1,720 sqft.