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 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 6.21% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

San Jose's average VA mortgage closing costs are $9,692.

The average rate for the prior week (2022-11-25) was 6.35% and one month ago for the week of 2022-10-28, the average rate was 6.74%.

The average rate one year ago was 3.32%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.27%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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 MORTGAGE 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 MORTGAGE ($6,759).

The lowest rate San Jose VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.17%), VILLAGE CAPITAL MORTGAGE (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 $1,108,983 (23.4%) $1,827,747 (28.2%) 4.11 571
2018-02-01 $1,199,444 (25.7%) $1,807,376 (21.3%) 4.35 678
2018-03-01 $1,275,000 (31.2%) $1,852,337 (23.0%) 4.47 801
2018-04-01 $1,254,444 (26.9%) $1,862,290 (24.3%) 4.25 995
2018-05-01 $1,291,500 (29.2%) $1,828,798 (11.5%) 4.31 1,199
2018-06-01 $1,250,000 (24.7%) $1,787,424 (7.2%) 4.17 1,442
2018-07-01 $1,199,722 (14.3%) $1,709,162 (0.8%) 4.00 1,719
2018-08-01 $1,168,900 (11.4%) $1,641,590 (-2.3%) 3.91 1,817
2018-09-01 $1,148,000 (4.5%) $1,618,542 (-13.2%) 3.85 2,060
2018-10-01 $1,099,944 (-1.5%) $1,589,038 (-14.4%) 3.72 2,148
2018-11-01 $1,088,450 (-6.3%) $1,537,628 (-21.5%) 3.69 2,053
2018-12-01 $1,000,000 (-13.0%) $1,506,979 (-23.6%) 3.45 1,460
2019-01-01 $999,888 (-9.8%) $1,508,987 (-17.4%) 3.45 1,265
2019-02-01 $1,096,500 (-8.6%) $1,610,273 (-10.9%) 3.70 1,441
2019-03-01 $1,101,894 (-13.6%) $1,632,914 (-11.9%) 3.60 1,636
2019-04-01 $1,126,210 (-10.2%) $1,641,466 (-11.9%) 3.58 1,806
2019-05-01 $1,188,000 (-8.0%) $1,646,199 (-10.0%) 3.71 2,174
2019-06-01 $1,175,000 (-6.0%) $1,642,913 (-8.1%) 3.67 2,367
2019-07-01 $1,126,500 (-6.1%) $1,635,976 (-4.3%) 3.53 2,299
2019-08-01 $1,117,816 (-4.4%) $1,663,755 (1.4%) 3.54 2,190
2019-09-01 $1,121,857 (-2.3%) $1,680,732 (3.8%) 3.59 2,107
2019-10-01 $1,112,051 (1.1%) $1,692,050 (6.5%) 3.59 2,022
2019-11-01 $1,100,000 (1.1%) $1,774,926 (15.4%) 3.61 1,613
2019-12-01 $1,083,819 (8.4%) $1,797,027 (19.3%) 3.61 990
2020-01-01 $1,088,500 (8.9%) $1,879,808 (24.6%) 3.64 820
2020-02-01 $1,198,000 (9.3%) $2,030,986 (26.1%) 3.92 945
2020-03-01 $1,249,805 (13.4%) $1,989,652 (21.9%) 3.91 1,145
2020-04-01 $1,198,500 (6.4%) $1,853,114 (12.9%) 3.75 1,350
2020-05-01 $1,201,000 (1.1%) $1,857,839 (12.9%) 3.65 1,647
2020-06-01 $1,260,000 (7.2%) $1,855,122 (12.9%) 3.71 1,657
2020-07-01 $1,249,950 (11.0%) $1,823,780 (11.5%) 3.62 1,682
2020-08-01 $1,248,000 (11.7%) $1,806,130 (8.6%) 3.58 1,674
2020-09-01 $1,208,897 (7.8%) $1,788,836 (6.4%) 3.46 1,669
2020-10-01 $1,228,950 (10.5%) $1,818,499 (7.5%) 3.52 1,692
2020-11-01 $1,230,748 (11.9%) $1,896,727 (6.9%) 3.59 1,559
2020-12-01 $1,197,000 (10.4%) $1,863,900 (3.7%) 3.56 1,154
2021-01-01 $1,199,000 (10.2%) $1,867,724 (-0.6%) 3.58 972
2021-02-01 $1,223,700 (2.2%) $1,871,925 (-7.8%) 3.56 1,055
2021-03-01 $1,246,444 (-0.3%) $1,879,883 (-5.5%) 3.54 1,182
2021-04-01 $1,249,500 (4.3%) $1,897,258 (2.4%) 3.38 1,252
2021-05-01 $1,298,444 (8.1%) $1,950,076 (5.0%) 3.44 1,244
2021-06-01 $1,299,444 (3.1%) $1,966,157 (6.0%) 3.42 1,327
2021-07-01 $1,275,000 (2.0%) $1,888,837 (3.6%) 3.36 1,410
2021-08-01 $1,250,500 (0.2%) $1,874,863 (3.8%) 3.33 1,367
2021-09-01 $1,262,500 (4.4%) $1,901,911 (6.3%) 3.37 1,284
2021-10-01 $1,275,000 (3.8%) $1,975,918 (8.7%) 3.40 1,190
2021-11-01 $1,244,194 (1.1%) $1,969,526 (3.8%) 3.32 820
2021-12-01 $1,238,944 (3.5%) $1,939,564 (4.1%) 3.36 533
2022-01-01 $1,298,000 (8.3%) $1,942,562 (4.0%) 3.51 490
2022-02-01 $1,356,500 (10.9%) $1,917,474 (2.4%) 3.53 641
2022-03-01 $1,399,500 (12.3%) $1,934,489 (2.9%) 3.50 785
2022-04-01 $1,433,900 (14.8%) $1,908,262 (0.6%) 3.42 908
2022-05-01 $1,496,000 (15.2%) $1,941,826 (-0.4%) 3.42 1,506
2022-06-01 $1,495,000 (15.1%) $1,966,203 (0.0%) 3.33 1,755
2022-07-01 $1,400,000 (9.8%) $1,904,564 (0.8%) 3.17 1,987
2022-08-01 $1,385,975 (10.8%) $1,912,398 (2.0%) 3.20 1,798
2022-09-01 $1,398,500 (10.8%) $1,964,790 (3.3%) 3.27 1,554
2022-10-01 $1,399,000 (9.7%) $2,017,082 (2.1%) 3.29 1,533
2022-11-01 $1,399,000 (12.4%) $2,029,853 (3.1%) 3.37 1,355
San Jose's median listing price for 2022-11-01 was $1,399,000, a difference of $154,806 (12.4%) versus the prior year and $0 versus the prior month.

San Jose's median listing price comes in at 337% of the national average.

San Jose's average listing price for 2022-11-01 was $2,029,853, a difference of $60,327 (3.1%) versus the prior year and $12,771 versus the prior month.

For the 2022-11-01 period, San Jose had 1,355 MLS listings, a difference of -178 listings (-12%) versus the prior month and 535 listings (65%) 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 28 days 1,899 sqft
2018-02-01 17 days 1,893 sqft
2018-03-01 17 days 1,829 sqft
2018-04-01 18 days 1,787 sqft
2018-05-01 18 days 1,793 sqft
2018-06-01 22 days 1,744 sqft
2018-07-01 26 days 1,694 sqft
2018-08-01 29 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 1,625 sqft
2019-01-01 53 days 1,624 sqft
2019-02-01 25 days 1,664 sqft
2019-03-01 27 days 1,688 sqft
2019-04-01 28 days 1,709 sqft
2019-05-01 26 days 1,753 sqft
2019-06-01 33 days 1,735 sqft
2019-07-01 38 days 1,721 sqft
2019-08-01 41 days 1,720 sqft
2019-09-01 43 days 1,715 sqft
2019-10-01 45 days 1,714 sqft
2019-11-01 57 days 1,752 sqft
2019-12-01 75 days 1,788 sqft
2020-01-01 54 days 1,763 sqft
2020-02-01 23 days 1,829 sqft
2020-03-01 23 days 1,807 sqft
2020-04-01 35 days 1,774 sqft
2020-05-01 37 days 1,796 sqft
2020-06-01 35 days 1,773 sqft
2020-07-01 33 days 1,713 sqft
2020-08-01 34 days 1,663 sqft
2020-09-01 37 days 1,633 sqft
2020-10-01 36 days 1,614 sqft
2020-11-01 44 days 1,585 sqft
2020-12-01 52 days 1,541 sqft
2021-01-01 42 days 1,554 sqft
2021-02-01 26 days 1,577 sqft
2021-03-01 26 days 1,592 sqft
2021-04-01 30 days 1,608 sqft
2021-05-01 26 days 1,663 sqft
2021-06-01 24 days 1,650 sqft
2021-07-01 26 days 1,626 sqft
2021-08-01 30 days 1,599 sqft
2021-09-01 31 days 1,626 sqft
2021-10-01 37 days 1,615 sqft
2021-11-01 53 days 1,608 sqft
2021-12-01 70 days 1,548 sqft
2022-01-01 42 days 1,588 sqft
2022-02-01 12 days 1,601 sqft
2022-03-01 16 days 1,630 sqft
2022-04-01 16 days 1,662 sqft
2022-05-01 17 days 1,666 sqft
2022-06-01 24 days 1,675 sqft
2022-07-01 29 days 1,672 sqft
2022-08-01 37 days 1,682 sqft
2022-09-01 39 days 1,690 sqft
2022-10-01 37 days 1,712 sqft
2022-11-01 41 days 1,714 sqft
San Jose's median listing age (time on market) for 2022-11-01 was 41 days. This is -24% shorter than the same period one year ago.

San Jose's median square footage for active listings during the 2022-11-01 period was 1,714 sqft. One year prior, the average listing was 1,608 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.