Savannah VA Loans
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 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
5.62%
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
5.33% and
one month ago for the week of 2022-04-15, the
average rate was 4.89%.
The average rate one year ago was 2.98%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.26%.
Savannah 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 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 & INVESTMENT LLC (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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $259,900 (5.3%) | $374,490 (11.5%) | 0.96 | 2,716 |
2018-02-01 | $267,250 (5.4%) | $377,462 (8.7%) | 0.96 | 2,777 |
2018-03-01 | $274,900 (6.0%) | $379,064 (7.1%) | 0.95 | 2,872 |
2018-04-01 | $275,516 (6.0%) | $379,077 (5.5%) | 0.92 | 2,891 |
2018-05-01 | $277,000 (6.6%) | $379,385 (5.6%) | 0.92 | 2,911 |
2018-06-01 | $274,900 (3.7%) | $372,522 (2.1%) | 0.92 | 2,946 |
2018-07-01 | $274,950 (4.0%) | $375,353 (2.9%) | 0.92 | 2,889 |
2018-08-01 | $271,950 (5.3%) | $374,456 (5.0%) | 0.91 | 2,824 |
2018-09-01 | $274,900 (5.8%) | $377,145 (5.3%) | 0.92 | 2,820 |
2018-10-01 | $274,900 (6.8%) | $379,645 (4.8%) | 0.92 | 2,862 |
2018-11-01 | $271,450 (4.4%) | $375,789 (2.4%) | 0.91 | 2,982 |
2018-12-01 | $271,600 (4.5%) | $377,554 (2.2%) | 0.93 | 2,918 |
2019-01-01 | $273,450 (5.2%) | $384,949 (2.8%) | 0.94 | 2,823 |
2019-02-01 | $277,450 (3.8%) | $393,953 (4.4%) | 0.93 | 2,792 |
2019-03-01 | $282,043 (2.6%) | $400,957 (5.8%) | 0.92 | 2,771 |
2019-04-01 | $286,450 (4.0%) | $402,024 (6.1%) | 0.90 | 2,797 |
2019-05-01 | $288,850 (4.3%) | $403,513 (6.4%) | 0.89 | 2,791 |
2019-06-01 | $289,900 (5.5%) | $404,782 (8.7%) | 0.89 | 2,756 |
2019-07-01 | $289,900 (5.4%) | $401,905 (7.1%) | 0.90 | 2,763 |
2019-08-01 | $289,413 (6.4%) | $401,443 (7.2%) | 0.91 | 2,749 |
2019-09-01 | $289,927 (5.5%) | $402,482 (6.7%) | 0.92 | 2,751 |
2019-10-01 | $289,900 (5.5%) | $400,593 (5.5%) | 0.92 | 2,771 |
2019-11-01 | $289,900 (6.8%) | $402,695 (7.2%) | 0.94 | 2,688 |
2019-12-01 | $292,950 (7.9%) | $414,334 (9.7%) | 0.98 | 2,629 |
2020-01-01 | $295,673 (8.1%) | $417,977 (8.6%) | 0.99 | 2,460 |
2020-02-01 | $299,000 (7.8%) | $423,245 (7.4%) | 0.96 | 2,483 |
2020-03-01 | $299,900 (6.3%) | $425,697 (6.2%) | 0.94 | 2,467 |
2020-04-01 | $299,900 (4.7%) | $422,583 (5.1%) | 0.93 | 2,497 |
2020-05-01 | $306,052 (6.0%) | $431,132 (6.8%) | 0.93 | 2,361 |
2020-06-01 | $313,750 (8.2%) | $440,138 (8.7%) | 0.92 | 2,175 |
2020-07-01 | $319,900 (10.4%) | $445,894 (11.0%) | 0.92 | 2,068 |
2020-08-01 | $320,000 (10.6%) | $454,051 (13.1%) | 0.91 | 1,910 |
2020-09-01 | $325,000 (12.1%) | $466,588 (15.9%) | 0.93 | 1,827 |
2020-10-01 | $318,789 (10.0%) | $469,200 (17.1%) | 0.91 | 1,747 |
2020-11-01 | $307,500 (6.1%) | $456,681 (13.4%) | 0.88 | 1,716 |
2020-12-01 | $302,450 (3.2%) | $452,499 (9.2%) | 0.89 | 1,575 |
2021-01-01 | $305,000 (3.2%) | $459,762 (10.0%) | 0.90 | 1,325 |
2021-02-01 | $307,450 (2.8%) | $481,621 (13.8%) | 0.88 | 1,075 |
2021-03-01 | $310,428 (3.5%) | $502,400 (18.0%) | 0.87 | 880 |
2021-04-01 | $320,695 (6.9%) | $513,041 (21.4%) | 0.86 | 797 |
2021-05-01 | $320,000 (4.6%) | $525,623 (21.9%) | 0.84 | 784 |
2021-06-01 | $324,900 (3.6%) | $528,060 (20.0%) | 0.84 | 771 |
2021-07-01 | $329,450 (3.0%) | $526,260 (18.0%) | 0.86 | 847 |
2021-08-01 | $339,563 (6.1%) | $535,918 (18.0%) | 0.89 | 843 |
2021-09-01 | $334,950 (3.1%) | $544,512 (16.7%) | 0.88 | 844 |
2021-10-01 | $340,000 (6.7%) | $560,488 (19.5%) | 0.89 | 795 |
2021-11-01 | $340,403 (10.7%) | $558,903 (22.4%) | 0.90 | 712 |
2021-12-01 | $349,950 (15.7%) | $583,865 (29.0%) | 0.93 | 655 |
2022-01-01 | $349,900 (14.7%) | $601,555 (30.8%) | 0.93 | 537 |
2022-02-01 | $377,450 (22.8%) | $641,986 (33.3%) | 0.96 | 464 |
2022-03-01 | $387,400 (24.8%) | $641,183 (27.6%) | 0.96 | 464 |
2022-04-01 | $399,000 (24.4%) | $646,298 (26.0%) | 0.94 | 494 |
Savannah's median listing price comes in at 94% of the national average.
Savannah's average listing price for 2022-04-01 was $646,298, a difference of $133,257 (26.0%) versus the prior year and $5,115 versus the prior month.
For the 2022-04-01 period, Savannah had 494 MLS listings, a difference of 30 listings (6%) versus the prior month and -303 listings (-38%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Savannah (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 99 days | 2,168 sqft |
2018-02-01 | 91 days | 2,187 sqft |
2018-03-01 | 68 days | 2,248 sqft |
2018-04-01 | 69 days | 2,271 sqft |
2018-05-01 | 72 days | 2,253 sqft |
2018-06-01 | 74 days | 2,211 sqft |
2018-07-01 | 78 days | 2,220 sqft |
2018-08-01 | 81 days | 2,193 sqft |
2018-09-01 | 85 days | 2,202 sqft |
2018-10-01 | 83 days | 2,203 sqft |
2018-11-01 | 82 days | 2,211 sqft |
2018-12-01 | 88 days | 2,223 sqft |
2019-01-01 | 95 days | 2,214 sqft |
2019-02-01 | 99 days | 2,229 sqft |
2019-03-01 | 88 days | 2,250 sqft |
2019-04-01 | 71 days | 2,280 sqft |
2019-05-01 | 70 days | 2,301 sqft |
2019-06-01 | 72 days | 2,320 sqft |
2019-07-01 | 72 days | 2,323 sqft |
2019-08-01 | 76 days | 2,322 sqft |
2019-09-01 | 84 days | 2,322 sqft |
2019-10-01 | 84 days | 2,302 sqft |
2019-11-01 | 87 days | 2,304 sqft |
2019-12-01 | 90 days | 2,266 sqft |
2020-01-01 | 99 days | 2,279 sqft |
2020-02-01 | 92 days | 2,294 sqft |
2020-03-01 | 75 days | 2,312 sqft |
2020-04-01 | 77 days | 2,332 sqft |
2020-05-01 | 80 days | 2,343 sqft |
2020-06-01 | 80 days | 2,323 sqft |
2020-07-01 | 71 days | 2,394 sqft |
2020-08-01 | 63 days | 2,358 sqft |
2020-09-01 | 61 days | 2,319 sqft |
2020-10-01 | 65 days | 2,244 sqft |
2020-11-01 | 66 days | 2,158 sqft |
2020-12-01 | 71 days | 2,127 sqft |
2021-01-01 | 79 days | 2,118 sqft |
2021-02-01 | 67 days | 2,068 sqft |
2021-03-01 | 50 days | 2,037 sqft |
2021-04-01 | 44 days | 2,069 sqft |
2021-05-01 | 37 days | 2,100 sqft |
2021-06-01 | 38 days | 2,050 sqft |
2021-07-01 | 37 days | 2,077 sqft |
2021-08-01 | 38 days | 2,029 sqft |
2021-09-01 | 43 days | 2,019 sqft |
2021-10-01 | 44 days | 2,048 sqft |
2021-11-01 | 47 days | 2,070 sqft |
2021-12-01 | 48 days | 2,087 sqft |
2022-01-01 | 53 days | 2,059 sqft |
2022-02-01 | 37 days | 2,131 sqft |
2022-03-01 | 30 days | 2,135 sqft |
2022-04-01 | 29 days | 2,194 sqft |
Savannah's median square footage for active listings during the 2022-04-01 period was 2,194 sqft. One year prior, the average listing was 2,069 sqft.