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%.

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.