San Jose VA Loans

SAN JOSE-SUNNYVALE-SANTA CLARA, CA

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    • 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.

    San Jose's 119 lenders originated 1,257 VA loans during 2021. The total origination value was $840,055,000, with an average VA loan value of $668,302.

    San Jose VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in San Jose averaged 5.06% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

    The average rate for the prior week (2022-05-13) was 5.07% and one month ago for the week of 2022-04-15, the average rate was 4.64%.

    The average rate one year ago was 2.63%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.32%.

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

    San Jose 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 San Jose level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    QUICKEN LOANS, LLC 153 2.40% $7,331
    FREEDOM MORTGAGE CORPORATION 103 2.30% $5,550
    PENNYMAC LOAN SERVICES, LLC 90 2.26% $9,180
    UNITED WHOLESALE MORTGAGE, LLC 72 2.45% $9,808
    Mortgage Research Center, LLC 64 2.67% $13,918
    LOANDEPOT.COM, LLC 62 2.39% $9,111
    HOME POINT FINANCIAL CORPORATION 32 2.40% $8,464
    CALIBER HOME LOANS, INC. 31 2.43% $13,208
    NAVY FEDERAL CREDIT UNION 24 2.50% $6,716
    LAKEVIEW LOAN SERVICING, LLC 22 2.45% $4,132
    The Federal Savings Bank 21 2.36% $10,038
    AMERICAN PACIFIC MORTGAGE CORPORATION 20 2.68% $9,531
    VILLAGE CAPITAL & INVESTMENT LLC 18 2.19% $6,759
    AMERICAN FINANCIAL NETWORK, INC. 17 2.65% $28,490
    GUARANTEED RATE, INC. 15 2.49% $9,610
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 13 2.68% $14,531
    NEWREZ LLC 13 2.54% $7,949
    CLEARPATH LENDING 13 2.17% $6,107
    CROSSCOUNTRY MORTGAGE, LLC 12 2.56% $17,157
    Flagstar Bank, FSB 12 2.53% $9,310
    NEW DAY FINANCIAL, LLC 10 2.89% $22,542
    Wells Fargo Bank 10 2.53% $12,394
    MASON MCDUFFIE MORTGAGE CORPORATION 9 2.83% $12,531
    HOMEBRIDGE FINANCIAL SERVICES, INC. 9 2.57% $14,142
    North American Savings Bank, F.S.B. 9 2.36% $3,666
    AMERISAVE MORTGAGE CORPORATION 9 2.49% $10,780
    GUILD MORTGAGE COMPANY 8 2.69% $5,599
    GUARANTEED RATE AFFINITY, LLC 8 2.45% $11,232
    Strong Home Mortgage, LLC 7 2.29% $7,788
    BROKER SOLUTIONS, INC. 7 2.52% $14,720
    Mr. Cooper ( Nationstar Mortgage ) 7 2.41% $5,284
    First Guaranty Mortgage Corporation 7 2.29% $4,783
    Lakeview Community Capital, LLC 7 2.48% $7,592
    STEARNS LENDING, LLC 6 2.46% $6,546
    PLAZA HOME MORTGAGE, INC. 6 2.27% $4,220
    Low VA Rates, LLC 6 2.02% $12,934
    LENDUS, LLC 6 2.58% $25,704
    Prosperity Home Mortgage, LLC 6 2.71% $10,819
    Carrington Mortgage Services, LLC 6 2.54% $8,413
    FINANCE OF AMERICA MORTGAGE LLC 6 2.33% $12,977
    NBKC BANK 5 2.45% $3,950
    NETWORK CAPITAL FUNDING CORPORATION 5 2.45% $6,591
    BNC National Bank 5 2.20% $10,908
    USAA Federal Savings Bank 5 2.80% $7,322
    CMG MORTGAGE, INC. 5 3.00% $6,256
    PREMIER MORTGAGE RESOURCES, L.L.C. 5 2.50% $13,430
    InterContinental Capital Group, Inc 5 2.25% $4,052
    PLANET HOME LENDING, LLC 4 2.56% $11,481
    ACADEMY MORTGAGE CORPORATION 4 2.66% $20,098
    MUTUAL OF OMAHA MORTGAGE, INC. 4 2.25% $26,345
    NP, Inc. 4 2.41% $7,538
    PENTAGON FEDERAL CREDIT UNION 4 2.38% $8,049
    SUN WEST MORTGAGE COMPANY, INC. 4 2.38% $2,286
    SOVEREIGN LENDING GROUP INCORPORATED 3 2.58% $17,931
    EAGLE HOME MORTGAGE, LLC 3 3.00% $0
    SUMMIT FUNDING, INC. 3 2.88% $14,727
    Barrington Bank & Trust Company, N.A. 3 2.38% $5,944
    ACCELERATE MORTGAGE, LLC 3 2.08% $6,802
    Prime Choice Funding Inc. 3 2.88% $16,692
    FirstBank 3 2.29% $1,259
    HighTechLending Inc 3 2.75% $21,075
    MOVEMENT MORTGAGE, LLC 2 2.88% $4,293
    Wyndham Capital Mortgage, Inc. 2 2.31% $925
    UNION HOME MORTGAGE CORP. 2 2.50% $6,776
    MEGA CAPITAL FUNDING, INC. 2 2.56% $2,328
    S1L, Inc. 2 3.00% $16,641
    GENEVA FINANCIAL, LLC 2 2.25% $15,616
    AMERICAN HOME LENDING USA, LLC 2 2.25% $5,867
    NATIONS DIRECT MORTGAGE, LLC 2 3.25% $9,980
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.13% $12,659
    Equity Prime Mortgage LLC 2 2.81% $10,216
    NBH Bank 1 2.88% $19,823
    ENVOY MORTGAGE, LTD 1 2.75% $4,222
    NFM, INC. 1 2.88% $17,872
    DRAPER AND KRAMER MORTGAGE CORP. 1 2.25% $2,685
    OCMBC, INC. 1 2.75% $3,938
    ONY GLO, INC. 1 2.38% $5,463
    Paramount Residential Mortgage Group, Inc. 1 2.25% $2,435
    Credence Funding Corporation 1 2.25% $4,113
    PHH Mortgage Corporation 1 2.75% $2,674
    ABSOLUTE HOME MORTGAGE CORPORATION 1 2.88% $3,225
    Commerce Home Mortgage, Inc. 1 2.25% $3,715
    PREMIA MORTGAGE, LLC 1 2.75% $3,022
    PREMIER LENDING, INC. 1 2.75% $18,733
    Citizens Bank 1 2.25% $7,981
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.63% $34,137
    CHERRY CREEK MORTGAGE, LLC 1 2.25% $1,026
    CANOPY MORTGAGE, LLC 1 2.25% $1,805
    SRE MORTGAGE ALLIANCE INC. 1 2.25% $4,403
    BRIDGELOCK CAPITAL 1 2.25% $5,803
    Stifel Bank and Trust 1 2.63% $1,696
    BAYSHORE MORTGAGE FUNDING, LLC 1 2.25% $4,941
    Zions Bancorporation, N.A. 1 2.63% $2,306
    THRIVE MORTGAGE, LLC 1 3.75% $10,450
    TOP FLITE FINANCIAL, INC. 1 3.00% $24,541
    TOWNE MORTGAGE COMPANY 1 3.25% $6,917
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.13% $2,933
    U.S. Bank 1 2.88% $18,454
    Home Mortgage Alliance Corp 1 2.75% $5,472
    Hometown Equity Mortgage, LLC 1 2.25% $10,800
    INTERCAP LENDING INC. 1 2.25% $4,938
    INSPIRE HOME LOANS INC. 1 2.50% $10,920
    Goldwater Bank, N.A. 1 2.25% $12,503
    ISERVE RESIDENTIAL LENDING, LLC 1 2.88% $20,156
    KBHS HOME LOANS, LLC 1 3.13% $387
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 1 3.38% $39,102
    KS StateBank 1 2.25% $0
    LADERA LENDING, INC. 1 2.38% $2,769
    Glacier Bank 1 2.25% $5,380
    Franklin Loan Corporation 1 2.50% $9,765
    Florida Capital Bank 1 2.75% $6,383
    LOANPAL, LLC 1 2.25% $11,326
    First Mortgage Solutions, LLC 1 2.25% $4,353
    Magnolia Bank 1 2.75% $11,107
    First Federal Bank of Kansas City 1 2.25% $6,489
    First Federal Bank 1 2.75% $9,778
    MUFG Union Bank 1 2.25% $724
    ALAMEDA MORTGAGE CORPORATION 1 2.50% $4,036
    FBC MORTGAGE, LLC 1 2.25% $6,973

    The top San Jose VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 153 VA loans originated. Their average total fees are $7,331, which is $1,781 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

    The lowest fee San Jose VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($4,132), FREEDOM MORTGAGE CORPORATION ($5,550), CLEARPATH LENDING ($6,107), NAVY FEDERAL CREDIT UNION ($6,716) and VILLAGE CAPITAL & INVESTMENT LLC ($6,759).

    The lowest rate San Jose VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.17%), VILLAGE CAPITAL & INVESTMENT LLC (2.19%), PENNYMAC LOAN SERVICES, LLC (2.26%), FREEDOM MORTGAGE CORPORATION (2.30%) and The Federal Savings Bank (2.36%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - San Jose (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 $1,100,000 (24.0%) $1,815,454 (27.2%) 4.05 576
    2018-02-01 $1,199,444 (25.8%) $1,782,374 (19.7%) 4.33 678
    2018-03-01 $1,250,000 (30.9%) $1,824,412 (22.4%) 4.33 801
    2018-04-01 $1,247,000 (26.2%) $1,826,697 (22.8%) 4.18 998
    2018-05-01 $1,279,000 (28.1%) $1,789,201 (9.7%) 4.26 1,210
    2018-06-01 $1,248,000 (24.9%) $1,762,730 (6.9%) 4.16 1,479
    2018-07-01 $1,199,000 (15.3%) $1,699,481 (1.8%) 4.00 1,760
    2018-08-01 $1,165,000 (13.7%) $1,632,626 (-0.4%) 3.89 1,876
    2018-09-01 $1,128,800 (3.1%) $1,608,721 (-12.0%) 3.78 2,100
    2018-10-01 $1,097,000 (-1.3%) $1,564,216 (-14.4%) 3.67 2,190
    2018-11-01 $1,083,000 (-5.8%) $1,516,391 (-21.5%) 3.63 2,109
    2018-12-01 $999,950 (-12.3%) $1,487,718 (-23.4%) 3.42 1,492
    2019-01-01 $999,000 (-9.2%) $1,490,069 (-17.9%) 3.44 1,295
    2019-02-01 $1,075,000 (-10.4%) $1,599,339 (-10.3%) 3.60 1,465
    2019-03-01 $1,099,365 (-12.1%) $1,618,391 (-11.3%) 3.58 1,675
    2019-04-01 $1,114,500 (-10.6%) $1,623,187 (-11.1%) 3.51 1,860
    2019-05-01 $1,178,000 (-7.9%) $1,648,951 (-7.8%) 3.63 2,209
    2019-06-01 $1,168,000 (-6.4%) $1,659,910 (-5.8%) 3.60 2,434
    2019-07-01 $1,130,000 (-5.8%) $1,652,717 (-2.8%) 3.51 2,367
    2019-08-01 $1,120,571 (-3.8%) $1,669,214 (2.2%) 3.53 2,204
    2019-09-01 $1,140,571 (1.0%) $1,680,869 (4.5%) 3.62 2,115
    2019-10-01 $1,109,000 (1.1%) $1,733,833 (10.8%) 3.54 2,065
    2019-11-01 $1,099,000 (1.5%) $1,817,598 (19.9%) 3.55 1,635
    2019-12-01 $1,049,629 (5.0%) $1,834,752 (23.3%) 3.50 994
    2020-01-01 $1,081,944 (8.3%) $1,816,358 (21.9%) 3.61 803
    2020-02-01 $1,170,000 (8.8%) $1,938,495 (21.2%) 3.78 931
    2020-03-01 $1,245,000 (13.3%) $1,923,234 (18.8%) 3.89 1,133
    2020-04-01 $1,198,500 (7.5%) $1,784,793 (10.0%) 3.73 1,354
    2020-05-01 $1,199,000 (1.8%) $1,803,200 (9.4%) 3.63 1,643
    2020-06-01 $1,229,500 (5.3%) $1,801,572 (8.5%) 3.59 1,646
    2020-07-01 $1,217,500 (7.7%) $1,771,534 (7.2%) 3.49 1,663
    2020-08-01 $1,199,000 (7.0%) $1,755,038 (5.1%) 3.43 1,678
    2020-09-01 $1,200,000 (5.2%) $1,776,475 (5.7%) 3.43 1,677
    2020-10-01 $1,199,000 (8.1%) $1,828,795 (5.5%) 3.43 1,683
    2020-11-01 $1,213,944 (10.5%) $1,900,604 (4.6%) 3.48 1,561
    2020-12-01 $1,187,500 (13.1%) $1,860,389 (1.4%) 3.48 1,152
    2021-01-01 $1,195,000 (10.5%) $1,824,017 (0.4%) 3.52 955
    2021-02-01 $1,199,500 (2.5%) $1,836,826 (-5.2%) 3.45 1,023
    2021-03-01 $1,233,000 (-1.0%) $1,839,189 (-4.4%) 3.46 1,142
    2021-04-01 $1,243,440 (3.8%) $1,857,120 (4.1%) 3.34 1,207
    2021-05-01 $1,298,000 (8.3%) $1,917,178 (6.3%) 3.42 1,193
    2021-06-01 $1,298,500 (5.6%) $1,926,039 (6.9%) 3.37 1,282
    2021-07-01 $1,250,500 (2.7%) $1,863,704 (5.2%) 3.25 1,347
    2021-08-01 $1,250,000 (4.3%) $1,838,066 (4.7%) 3.29 1,331
    2021-09-01 $1,250,900 (4.2%) $1,860,657 (4.7%) 3.29 1,246
    2021-10-01 $1,255,561 (4.7%) $1,916,896 (4.8%) 3.30 1,142
    2021-11-01 $1,244,944 (2.6%) $1,916,054 (0.8%) 3.28 782
    2021-12-01 $1,239,419 (4.4%) $1,869,929 (0.5%) 3.31 511
    2022-01-01 $1,298,000 (8.6%) $1,915,150 (5.0%) 3.46 460
    2022-02-01 $1,358,444 (13.3%) $1,898,101 (3.3%) 3.46 614
    2022-03-01 $1,399,450 (13.5%) $1,921,075 (4.5%) 3.46 747
    2022-04-01 $1,439,000 (15.7%) $1,894,830 (2.0%) 3.39 866
    San Jose's median listing price for 2022-04-01 was $1,439,000, a difference of $195,560 (15.7%) versus the prior year and $39,550 versus the prior month.

    San Jose's median listing price comes in at 339% of the national average.

    San Jose's average listing price for 2022-04-01 was $1,894,830, a difference of $37,710 (2.0%) versus the prior year and $-26,245 versus the prior month.

    For the 2022-04-01 period, San Jose had 866 MLS listings, a difference of 119 listings (16%) versus the prior month and -341 listings (-28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - San Jose (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 26 days 1,888 sqft
    2018-02-01 18 days 1,893 sqft
    2018-03-01 16 days 1,817 sqft
    2018-04-01 18 days 1,771 sqft
    2018-05-01 17 days 1,779 sqft
    2018-06-01 22 days 1,732 sqft
    2018-07-01 26 days 1,691 sqft
    2018-08-01 29 days 1,656 sqft
    2018-09-01 30 days 1,653 sqft
    2018-10-01 31 days 1,637 sqft
    2018-11-01 38 days 1,620 sqft
    2018-12-01 51 days 1,617 sqft
    2019-01-01 53 days 1,615 sqft
    2019-02-01 26 days 1,651 sqft
    2019-03-01 28 days 1,679 sqft
    2019-04-01 28 days 1,699 sqft
    2019-05-01 25 days 1,745 sqft
    2019-06-01 30 days 1,735 sqft
    2019-07-01 38 days 1,716 sqft
    2019-08-01 40 days 1,702 sqft
    2019-09-01 42 days 1,688 sqft
    2019-10-01 38 days 1,724 sqft
    2019-11-01 45 days 1,764 sqft
    2019-12-01 58 days 1,793 sqft
    2020-01-01 59 days 1,741 sqft
    2020-02-01 23 days 1,799 sqft
    2020-03-01 23 days 1,790 sqft
    2020-04-01 35 days 1,754 sqft
    2020-05-01 37 days 1,789 sqft
    2020-06-01 35 days 1,752 sqft
    2020-07-01 34 days 1,694 sqft
    2020-08-01 31 days 1,653 sqft
    2020-09-01 28 days 1,619 sqft
    2020-10-01 25 days 1,589 sqft
    2020-11-01 32 days 1,545 sqft
    2020-12-01 41 days 1,505 sqft
    2021-01-01 42 days 1,528 sqft
    2021-02-01 28 days 1,559 sqft
    2021-03-01 26 days 1,587 sqft
    2021-04-01 28 days 1,604 sqft
    2021-05-01 28 days 1,652 sqft
    2021-06-01 24 days 1,648 sqft
    2021-07-01 28 days 1,623 sqft
    2021-08-01 30 days 1,593 sqft
    2021-09-01 31 days 1,616 sqft
    2021-10-01 33 days 1,610 sqft
    2021-11-01 36 days 1,596 sqft
    2021-12-01 39 days 1,548 sqft
    2022-01-01 35 days 1,576 sqft
    2022-02-01 16 days 1,609 sqft
    2022-03-01 17 days 1,630 sqft
    2022-04-01 19 days 1,664 sqft
    San Jose's median listing age (time on market) for 2022-04-01 was 19 days. This is -32% shorter than the same period one year ago.

    San Jose's median square footage for active listings during the 2022-04-01 period was 1,664 sqft. One year prior, the average listing was 1,604 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.