San Jose VA Loan Rates, Closing Costs & Stats

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 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 43 lenders originated 122 VA loans during 2023. The total origination value was $103,420,000, with an average VA loan value of $847,705.

    San Jose VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in San Jose averaged 5.63% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    San Jose's average VA mortgage closing costs are $10,576.

    The average rate for the prior week (2024-12-06) was 6.07% and one month ago for the week of 2024-11-08, the average rate was 5.96%.

    The average rate one year ago was 6.21%.

    For refis of the same type during the week of 2024-12-13, the average rate was 5.78%.

    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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the San Jose level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 23 5.80% $22,864
    QUICKEN LOANS, LLC 12 6.07% $20,658
    Mortgage Research Center, LLC 11 6.34% $20,644
    KBHS HOME LOANS, LLC 7 5.63% $9,206
    GUARANTEED RATE, INC. 5 5.52% $10,913
    PREMIER MORTGAGE RESOURCES, L.L.C. 4 6.19% $42,294
    Prosperity Home Mortgage, LLC 4 5.75% $17,009
    NAVY FEDERAL CREDIT UNION 4 5.94% $10,364
    LOANDEPOT.COM, LLC 4 6.00% $21,666
    INSPIRE HOME LOANS INC. 3 6.08% $24,888
    ACADEMY MORTGAGE CORPORATION 3 6.42% $3,934
    Paramount Residential Mortgage Group, Inc. 3 6.42% $22,518
    PENNYMAC LOAN SERVICES, LLC 3 5.83% $10,966
    MASON MCDUFFIE MORTGAGE CORPORATION 2 6.38% $13,328
    GUARANTEED RATE AFFINITY, LLC 2 6.56% $11,688
    EAGLE HOME MORTGAGE, LLC 2 5.31% $8,484
    NATIONS DIRECT MORTGAGE, LLC 2 6.00% $6,832
    Century Mortgage Company DBA Century Lending Company 2 6.50% $16,823
    The Central Trust Bank 1 6.75% $4,258
    The Federal Savings Bank 1 5.75% $28,618
    USAA Federal Savings Bank 1 5.00% $63,934
    U.S. Bank 1 5.75% $3,930
    VERITAS FUNDING, LLC 1 6.63% $84,189
    VILLAGE CAPITAL MORTGAGE 1 6.25% $49,187
    Wells Fargo Bank 1 6.50% $24,940
    NEWREZ LLC 1 5.75% $9,746
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $17,227
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $2,777
    Barrington Bank & Trust Company, N.A. 1 5.25% $17,285
    BNC National Bank 1 5.25% $2,714
    CARDINAL FINANCIAL 1 7.75% $54,886
    CMG MORTGAGE, INC. 1 7.00% $52,209
    CROSSCOUNTRY MORTGAGE, LLC 1 6.06% $24,283
    Equity Prime Mortgage LLC 1 6.63% $10,622
    GUILD MORTGAGE COMPANY 1 6.50% $35,332
    JMJ FINANCIAL GROUP 1 7.25% $21,687
    LAND HOME FINANCIAL SERVICES, INC. 1 7.25% $19,371
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $58,118
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.63% $3,824
    NEW DAY FINANCIAL, LLC 1 7.38% $39,657
    North American Savings Bank, F.S.B. 1 5.75% $35,779
    SOVEREIGN LENDING GROUP INCORPORATED 1 5.25% $51,064
    SUMMIT FUNDING, INC. 1 7.38% $7,383

    The top San Jose VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 23 VA loans originated. Their average total fees are $22,864, which is $2,206 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee San Jose VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($20,644), QUICKEN LOANS, LLC ($20,658), UNITED WHOLESALE MORTGAGE, LLC ($22,864), .

    The lowest rate San Jose VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.80%), QUICKEN LOANS, LLC (6.07%), Mortgage Research Center, LLC (6.34%), .

    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 $1,110,250 (23.5%) $1,829,513 (28.2%) 4.12 570
    2018-02-01 $1,199,444 (25.7%) $1,810,776 (21.6%) 4.35 676
    2018-03-01 $1,286,500 (32.9%) $1,861,664 (23.7%) 4.51 799
    2018-04-01 $1,254,722 (26.9%) $1,864,395 (24.4%) 4.25 993
    2018-05-01 $1,293,000 (29.4%) $1,830,306 (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%) $1,710,621 (0.9%) 4.01 1,717
    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%) $1,618,736 (-13.3%) 3.86 2,058
    2018-10-01 $1,099,944 (-1.5%) $1,590,456 (-14.3%) 3.73 2,146
    2018-11-01 $1,089,400 (-6.2%) $1,539,122 (-21.5%) 3.69 2,052
    2018-12-01 $1,000,000 (-13.0%) $1,507,748 (-23.7%) 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 (-11.1%) 3.70 1,440
    2019-03-01 $1,102,769 (-14.3%) $1,633,737 (-12.2%) 3.61 1,635
    2019-04-01 $1,127,230 (-10.2%) $1,642,203 (-11.9%) 3.58 1,805
    2019-05-01 $1,188,000 (-8.1%) $1,645,599 (-10.1%) 3.71 2,175
    2019-06-01 $1,175,000 (-6.0%) $1,643,142 (-8.1%) 3.67 2,367
    2019-07-01 $1,128,250 (-6.0%) $1,636,619 (-4.3%) 3.53 2,299
    2019-08-01 $1,119,909 (-4.6%) $1,664,443 (1.3%) 3.55 2,190
    2019-09-01 $1,122,773 (-2.2%) $1,681,961 (3.9%) 3.59 2,106
    2019-10-01 $1,112,182 (1.1%) $1,693,639 (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%) 3.92 944
    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 (13.0%) 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 (10.8%) $1,824,368 (11.5%) 3.62 1,681
    2020-08-01 $1,248,000 (11.4%) $1,806,980 (8.6%) 3.58 1,673
    2020-09-01 $1,210,000 (7.8%) $1,789,686 (6.4%) 3.47 1,668
    2020-10-01 $1,229,950 (10.6%) $1,819,909 (7.5%) 3.52 1,690
    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 (8.6%) 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 $1,298,444 (8.3%) $1,931,228 (3.3%) 3.51 488
    2022-02-01 $1,350,250 (10.3%) $1,917,902 (2.4%) 3.51 639
    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%) $1,967,126 (0.0%) 3.33 1,755
    2022-07-01 $1,400,000 (9.8%) $1,904,902 (0.8%) 3.15 1,987
    2022-08-01 $1,386,238 (10.9%) $1,912,557 (2.0%) 3.20 1,798
    2022-09-01 $1,398,250 (10.7%) $1,964,656 (3.2%) 3.27 1,554
    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 (1.0%) 3.34 823
    2023-02-01 $1,399,500 (3.7%) $2,031,742 (5.9%) 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%) $2,198,585 (13.2%) 3.47 973
    2023-06-01 $1,498,000 (0.2%) $2,179,792 (10.8%) 3.37 980
    2023-07-01 $1,498,000 (7.0%) $2,176,298 (14.3%) 3.40 952
    2023-08-01 $1,474,497 (6.4%) $2,094,720 (9.5%) 3.39 1,031
    2023-09-01 $1,399,000 (0.1%) $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
    2023-12-01 $1,298,944 (-7.1%) $2,029,021 (-0.4%) 3.17 833
    2024-01-01 $1,288,250 (-4.5%) $1,966,840 (0.9%) 3.15 666
    2024-02-01 $1,366,944 (-2.3%) $2,051,511 (1.0%) 3.29 725
    2024-03-01 $1,481,397 (-0.9%) $2,128,258 (-1.2%) 3.49 889
    2024-04-01 $1,466,953 (-4.5%) $2,108,183 (-4.5%) 3.41 1,109
    2024-05-01 $1,468,817 (-4.0%) $2,181,136 (-0.8%) 3.32 1,332
    2024-06-01 $1,450,000 (-3.2%) $2,107,431 (-3.3%) 3.26 1,504
    2024-07-01 $1,408,664 (-6.0%) $2,023,922 (-7.0%) 3.22 1,527
    2024-08-01 $1,399,000 (-5.1%) $2,024,517 (-3.4%) 3.25 1,495
    2024-09-01 $1,432,170 (2.4%) $2,086,446 (4.2%) 3.37 1,600
    2024-10-01 $1,394,000 (1.0%) $2,068,828 (4.0%) 3.28 1,570
    2024-11-01 $1,350,000 (-0.2%) $2,048,183 (4.1%) 3.24 1,265
    San Jose's median listing price for 2024-11-01 was $1,350,000, a difference of $-2,222 (-0.2%) versus the prior year and $-44,000 versus the prior month.

    San Jose's median listing price comes in at 324% of the national average.

    San Jose's average listing price for 2024-11-01 was $2,048,183, a difference of $79,832 (4.1%) versus the prior year and $-20,645 versus the prior month.

    For the 2024-11-01 period, San Jose had 1,265 MLS listings, a difference of -305 listings (-19%) versus the prior month and 133 listings (12%) 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 1,900 sqft
    2018-02-01 17 days 1,897 sqft
    2018-03-01 17 days 1,832 sqft
    2018-04-01 18 days 1,785 sqft
    2018-05-01 18 days 1,793 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 1,650 sqft
    2018-11-01 38 days 1,632 sqft
    2018-12-01 50 days 1,624 sqft
    2019-01-01 52 days 1,624 sqft
    2019-02-01 25 days 1,663 sqft
    2019-03-01 27 days 1,689 sqft
    2019-04-01 28 days 1,710 sqft
    2019-05-01 25 days 1,753 sqft
    2019-06-01 32 days 1,735 sqft
    2019-07-01 38 days 1,721 sqft
    2019-08-01 40 days 1,720 sqft
    2019-09-01 43 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 11 days 1,599 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 1,673 sqft
    2022-08-01 37 days 1,682 sqft
    2022-09-01 38 days 1,691 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
    2023-12-01 43 days 1,602 sqft
    2024-01-01 42 days 1,589 sqft
    2024-02-01 23 days 1,621 sqft
    2024-03-01 22 days 1,658 sqft
    2024-04-01 21 days 1,633 sqft
    2024-05-01 16 days 1,678 sqft
    2024-06-01 20 days 1,680 sqft
    2024-07-01 30 days 1,662 sqft
    2024-08-01 31 days 1,651 sqft
    2024-09-01 31 days 1,676 sqft
    2024-10-01 34 days 1,667 sqft
    2024-11-01 39 days 1,619 sqft
    San Jose's median listing age (time on market) for 2024-11-01 was 39 days. This is 15% longer than the same period one year ago.

    San Jose's median square footage for active listings during the 2024-11-01 period was 1,619 sqft. One year prior, the average listing was 1,613 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.