Savannah VA Loan Rates, Closing Costs & Stats
SAVANNAH, GA
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.
Savannah's 182 lenders originated 4,759 VA loans during 2021. The total origination value was $1,245,145,000, with an average VA loan value of $261,640.
Savannah VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Savannah
averaged
6.67%
for the week of 2022-12-02, compared to the national average (all VA variants) of
6.292% for the same period.
Savannah's average VA mortgage closing costs are $5,464.
The average rate for the prior week (2022-11-25) was
6.91% and
one month ago for the week of 2022-10-28, the
average rate was 6.79%.
The average rate one year ago was 3.57%.
For refis of the same type during the week of 2022-12-02, the average rate
was 6.41%.
Savannah 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 Savannah level.
The top Savannah VA lender as defined by loan originations is Mortgage Research Center, LLC, with
636 VA loans originated. Their average total fees are
$6,526, which is $1,590
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Savannah VA lenders (with over 10 loans originated) are
Lakeview Community Capital, LLC ($2,050), LAKEVIEW LOAN SERVICING, LLC ($2,387), PENTAGON FEDERAL CREDIT UNION ($2,467), FREEDOM MORTGAGE CORPORATION ($2,570) and CALIBER HOME LOANS, INC. ($3,053).
The lowest rate Savannah VA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE (2.34%), CLEARPATH LENDING (2.34%), PENTAGON FEDERAL CREDIT UNION (2.38%), HOME POINT FINANCIAL CORPORATION (2.38%) and Low VA Rates, LLC (2.38%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Savannah (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 | $266,650 (6.9%) | $384,285 (12.1%) | 0.99 | 2,367 |
| 2018-02-01 | $274,623 (6.7%) | $387,819 (9.6%) | 1.00 | 2,425 |
| 2018-03-01 | $279,000 (6.3%) | $388,826 (7.6%) | 0.98 | 2,526 |
| 2018-04-01 | $279,561 (5.5%) | $388,248 (5.9%) | 0.95 | 2,542 |
| 2018-05-01 | $279,900 (5.6%) | $388,548 (6.0%) | 0.93 | 2,563 |
| 2018-06-01 | $279,000 (4.3%) | $381,338 (2.9%) | 0.93 | 2,591 |
| 2018-07-01 | $279,900 (5.2%) | $384,867 (3.2%) | 0.93 | 2,529 |
| 2018-08-01 | $275,071 (4.6%) | $382,995 (4.0%) | 0.92 | 2,467 |
| 2018-09-01 | $279,250 (5.4%) | $389,745 (5.5%) | 0.94 | 2,417 |
| 2018-10-01 | $279,500 (7.3%) | $393,775 (6.1%) | 0.94 | 2,445 |
| 2018-11-01 | $279,000 (5.3%) | $392,032 (4.1%) | 0.95 | 2,543 |
| 2018-12-01 | $278,000 (4.9%) | $395,515 (4.3%) | 0.96 | 2,501 |
| 2019-01-01 | $278,350 (4.4%) | $402,206 (4.7%) | 0.96 | 2,428 |
| 2019-02-01 | $283,660 (3.3%) | $410,363 (5.8%) | 0.96 | 2,413 |
| 2019-03-01 | $288,186 (3.3%) | $417,272 (7.3%) | 0.94 | 2,435 |
| 2019-04-01 | $291,445 (4.3%) | $419,960 (8.2%) | 0.93 | 2,488 |
| 2019-05-01 | $289,950 (3.6%) | $419,471 (8.0%) | 0.91 | 2,486 |
| 2019-06-01 | $289,950 (3.9%) | $421,530 (10.5%) | 0.91 | 2,446 |
| 2019-07-01 | $290,250 (3.7%) | $418,078 (8.6%) | 0.91 | 2,441 |
| 2019-08-01 | $291,700 (6.1%) | $415,955 (8.6%) | 0.92 | 2,440 |
| 2019-09-01 | $293,500 (5.1%) | $414,083 (6.2%) | 0.94 | 2,452 |
| 2019-10-01 | $294,700 (5.4%) | $412,835 (4.8%) | 0.95 | 2,449 |
| 2019-11-01 | $293,953 (5.4%) | $413,815 (5.6%) | 0.96 | 2,359 |
| 2019-12-01 | $295,525 (6.3%) | $422,253 (6.8%) | 0.99 | 2,331 |
| 2020-01-01 | $297,410 (6.9%) | $423,875 (5.4%) | 0.99 | 2,198 |
| 2020-02-01 | $299,900 (5.7%) | $430,543 (4.9%) | 0.98 | 2,214 |
| 2020-03-01 | $304,319 (5.6%) | $435,321 (4.3%) | 0.95 | 2,185 |
| 2020-04-01 | $300,258 (3.0%) | $429,980 (2.4%) | 0.94 | 2,218 |
| 2020-05-01 | $309,000 (6.6%) | $437,046 (4.2%) | 0.94 | 2,123 |
| 2020-06-01 | $318,225 (9.8%) | $445,586 (5.7%) | 0.94 | 1,969 |
| 2020-07-01 | $322,174 (11.0%) | $450,853 (7.8%) | 0.93 | 1,853 |
| 2020-08-01 | $322,370 (10.5%) | $457,349 (10.0%) | 0.92 | 1,707 |
| 2020-09-01 | $325,000 (10.7%) | $472,364 (14.1%) | 0.93 | 1,621 |
| 2020-10-01 | $318,549 (8.1%) | $468,766 (13.6%) | 0.91 | 1,567 |
| 2020-11-01 | $303,945 (3.4%) | $455,482 (10.1%) | 0.89 | 1,540 |
| 2020-12-01 | $300,000 (1.5%) | $452,227 (7.1%) | 0.89 | 1,417 |
| 2021-01-01 | $304,999 (2.6%) | $464,063 (9.5%) | 0.91 | 1,207 |
| 2021-02-01 | $306,778 (2.3%) | $481,707 (11.9%) | 0.89 | 1,012 |
| 2021-03-01 | $312,000 (2.5%) | $500,421 (15.0%) | 0.89 | 835 |
| 2021-04-01 | $319,020 (6.3%) | $495,764 (15.3%) | 0.86 | 762 |
| 2021-05-01 | $320,756 (3.8%) | $515,759 (18.0%) | 0.85 | 740 |
| 2021-06-01 | $322,418 (1.3%) | $525,419 (17.9%) | 0.85 | 729 |
| 2021-07-01 | $329,000 (2.1%) | $522,471 (15.9%) | 0.87 | 795 |
| 2021-08-01 | $329,500 (2.2%) | $525,375 (14.9%) | 0.88 | 780 |
| 2021-09-01 | $328,950 (1.2%) | $536,713 (13.6%) | 0.88 | 773 |
| 2021-10-01 | $339,714 (6.6%) | $545,325 (16.3%) | 0.91 | 738 |
| 2021-11-01 | $337,615 (11.1%) | $542,568 (19.1%) | 0.90 | 658 |
| 2021-12-01 | $348,950 (16.3%) | $561,380 (24.1%) | 0.95 | 606 |
| 2022-01-01 | $348,995 (14.4%) | $575,248 (24.0%) | 0.94 | 496 |
| 2022-02-01 | $370,450 (20.8%) | $615,726 (27.8%) | 0.96 | 424 |
| 2022-03-01 | $382,764 (22.7%) | $628,541 (25.6%) | 0.96 | 439 |
| 2022-04-01 | $394,990 (23.8%) | $638,180 (28.7%) | 0.94 | 456 |
| 2022-05-01 | $394,350 (22.9%) | $609,489 (18.2%) | 0.90 | 606 |
| 2022-06-01 | $399,900 (24.0%) | $606,434 (15.4%) | 0.89 | 698 |
| 2022-07-01 | $404,110 (22.8%) | $610,307 (16.8%) | 0.91 | 837 |
| 2022-08-01 | $399,000 (21.1%) | $589,195 (12.2%) | 0.92 | 944 |
| 2022-09-01 | $399,895 (21.6%) | $600,573 (11.9%) | 0.94 | 956 |
| 2022-10-01 | $399,945 (17.7%) | $605,397 (11.0%) | 0.94 | 1,008 |
| 2022-11-01 | $399,421 (18.3%) | $594,366 (9.6%) | 0.96 | 1,049 |
Savannah's median listing price comes in at 96% of the national average.
Savannah's average listing price for 2022-11-01 was $594,366, a difference of $51,798 (9.6%) versus the prior year and $-11,031 versus the prior month.
For the 2022-11-01 period, Savannah had 1,049 MLS listings, a difference of 41 listings (4%) versus the prior month and 391 listings (59%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Savannah (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 100 days | 2,173 sqft |
| 2018-02-01 | 93 days | 2,201 sqft |
| 2018-03-01 | 71 days | 2,248 sqft |
| 2018-04-01 | 71 days | 2,264 sqft |
| 2018-05-01 | 72 days | 2,237 sqft |
| 2018-06-01 | 75 days | 2,222 sqft |
| 2018-07-01 | 79 days | 2,226 sqft |
| 2018-08-01 | 84 days | 2,192 sqft |
| 2018-09-01 | 86 days | 2,209 sqft |
| 2018-10-01 | 85 days | 2,200 sqft |
| 2018-11-01 | 84 days | 2,201 sqft |
| 2018-12-01 | 89 days | 2,202 sqft |
| 2019-01-01 | 96 days | 2,200 sqft |
| 2019-02-01 | 100 days | 2,211 sqft |
| 2019-03-01 | 88 days | 2,238 sqft |
| 2019-04-01 | 72 days | 2,262 sqft |
| 2019-05-01 | 71 days | 2,278 sqft |
| 2019-06-01 | 73 days | 2,294 sqft |
| 2019-07-01 | 75 days | 2,292 sqft |
| 2019-08-01 | 80 days | 2,289 sqft |
| 2019-09-01 | 82 days | 2,288 sqft |
| 2019-10-01 | 85 days | 2,285 sqft |
| 2019-11-01 | 89 days | 2,270 sqft |
| 2019-12-01 | 95 days | 2,241 sqft |
| 2020-01-01 | 102 days | 2,243 sqft |
| 2020-02-01 | 96 days | 2,250 sqft |
| 2020-03-01 | 78 days | 2,291 sqft |
| 2020-04-01 | 81 days | 2,287 sqft |
| 2020-05-01 | 85 days | 2,295 sqft |
| 2020-06-01 | 87 days | 2,294 sqft |
| 2020-07-01 | 79 days | 2,346 sqft |
| 2020-08-01 | 71 days | 2,310 sqft |
| 2020-09-01 | 71 days | 2,269 sqft |
| 2020-10-01 | 72 days | 2,202 sqft |
| 2020-11-01 | 71 days | 2,145 sqft |
| 2020-12-01 | 75 days | 2,099 sqft |
| 2021-01-01 | 80 days | 2,091 sqft |
| 2021-02-01 | 65 days | 2,050 sqft |
| 2021-03-01 | 48 days | 2,030 sqft |
| 2021-04-01 | 45 days | 2,047 sqft |
| 2021-05-01 | 37 days | 2,097 sqft |
| 2021-06-01 | 39 days | 2,031 sqft |
| 2021-07-01 | 37 days | 2,090 sqft |
| 2021-08-01 | 42 days | 1,990 sqft |
| 2021-09-01 | 46 days | 2,010 sqft |
| 2021-10-01 | 51 days | 2,032 sqft |
| 2021-11-01 | 57 days | 2,043 sqft |
| 2021-12-01 | 59 days | 2,049 sqft |
| 2022-01-01 | 62 days | 2,032 sqft |
| 2022-02-01 | 32 days | 2,070 sqft |
| 2022-03-01 | 28 days | 2,105 sqft |
| 2022-04-01 | 27 days | 2,151 sqft |
| 2022-05-01 | 21 days | 2,121 sqft |
| 2022-06-01 | 26 days | 2,208 sqft |
| 2022-07-01 | 31 days | 2,160 sqft |
| 2022-08-01 | 38 days | 2,155 sqft |
| 2022-09-01 | 44 days | 2,149 sqft |
| 2022-10-01 | 50 days | 2,122 sqft |
| 2022-11-01 | 50 days | 2,155 sqft |
Savannah's median square footage for active listings during the 2022-11-01 period was 2,155 sqft. One year prior, the average listing was 2,043 sqft.
