San Jose VA Loans
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 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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.