Seattle VA Loan Rates, Closing Costs & Stats
Seattle-Tacoma-Bellevue, WA
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.
Seattle's 268 lenders originated 18,430 VA loans during 2021. The total origination value was $8,102,660,000, with an average VA loan value of $439,645.
Seattle VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Seattle
averaged
6.65%
for the week of 2022-12-02, compared to the national average (all VA variants) of
6.292% for the same period.
Seattle's average VA mortgage closing costs are $7,591.
The average rate for the prior week (2022-11-25) was
6.59% and
one month ago for the week of 2022-10-28, the
average rate was 6.78%.
The average rate one year ago was 3.36%.
For refis of the same type during the week of 2022-12-02, the average rate
was 6.47%.
Seattle 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 Seattle level.
The top Seattle VA lender as defined by loan originations is QUICKEN LOANS, LLC, with
1,223 VA loans originated. Their average total fees are
$6,553, which is $2,690
higher than the next largest lender,
FREEDOM MORTGAGE CORPORATION.
The lowest fee Seattle VA lenders (with over 10 loans originated) are
Wyndham Capital Mortgage, Inc. ($2,409), Lakeview Community Capital, LLC ($2,647), LAKEVIEW LOAN SERVICING, LLC ($2,931), NETWORK CAPITAL FUNDING CORPORATION ($3,029) and CU HOME MORTGAGE SOLUTIONS, LLC ($3,052).
The lowest rate Seattle VA lenders (with over 10 loans originated) are
First Mortgage Solutions, LLC (2.23%), ACCELERATE MORTGAGE, LLC (2.26%), KS StateBank (2.30%), NP, Inc. (2.32%) and PENNYMAC LOAN SERVICES, LLC (2.32%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Seattle (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 | $494,878 (13.3%) | $817,476 (17.5%) | 1.83 | 2,935 |
| 2018-02-01 | $522,475 (13.7%) | $837,160 (12.5%) | 1.90 | 2,977 |
| 2018-03-01 | $550,000 (14.9%) | $855,943 (13.2%) | 1.93 | 3,291 |
| 2018-04-01 | $559,975 (12.9%) | $860,533 (10.6%) | 1.90 | 3,916 |
| 2018-05-01 | $571,500 (14.4%) | $860,439 (9.9%) | 1.91 | 4,776 |
| 2018-06-01 | $575,000 (15.0%) | $858,001 (10.4%) | 1.92 | 5,926 |
| 2018-07-01 | $565,925 (13.3%) | $823,717 (7.1%) | 1.89 | 7,217 |
| 2018-08-01 | $550,971 (13.0%) | $794,974 (6.7%) | 1.84 | 8,156 |
| 2018-09-01 | $549,950 (12.5%) | $784,270 (4.8%) | 1.85 | 9,206 |
| 2018-10-01 | $552,500 (12.8%) | $782,006 (3.0%) | 1.87 | 9,384 |
| 2018-11-01 | $549,998 (11.7%) | $781,745 (0.8%) | 1.86 | 8,294 |
| 2018-12-01 | $550,000 (11.1%) | $789,581 (-0.7%) | 1.90 | 6,850 |
| 2019-01-01 | $562,475 (13.7%) | $817,211 (0.0%) | 1.94 | 5,558 |
| 2019-02-01 | $593,745 (13.6%) | $859,510 (2.7%) | 2.00 | 5,429 |
| 2019-03-01 | $608,423 (10.6%) | $873,910 (2.1%) | 1.99 | 5,655 |
| 2019-04-01 | $627,450 (12.1%) | $899,040 (4.5%) | 1.99 | 5,935 |
| 2019-05-01 | $623,714 (9.1%) | $881,336 (2.4%) | 1.95 | 7,098 |
| 2019-06-01 | $614,950 (7.0%) | $859,290 (0.2%) | 1.92 | 7,808 |
| 2019-07-01 | $599,995 (6.0%) | $850,205 (3.2%) | 1.88 | 7,785 |
| 2019-08-01 | $595,836 (8.1%) | $841,677 (5.9%) | 1.89 | 8,178 |
| 2019-09-01 | $589,741 (7.2%) | $834,128 (6.4%) | 1.89 | 8,311 |
| 2019-10-01 | $585,677 (6.0%) | $829,095 (6.0%) | 1.89 | 8,319 |
| 2019-11-01 | $579,000 (5.3%) | $833,861 (6.7%) | 1.90 | 6,741 |
| 2019-12-01 | $579,950 (5.5%) | $846,246 (7.2%) | 1.93 | 4,770 |
| 2020-01-01 | $587,500 (4.5%) | $866,985 (6.1%) | 1.96 | 3,868 |
| 2020-02-01 | $599,900 (1.0%) | $889,351 (3.5%) | 1.96 | 3,792 |
| 2020-03-01 | $606,495 (-0.3%) | $882,093 (0.9%) | 1.90 | 4,301 |
| 2020-04-01 | $599,950 (-4.4%) | $850,981 (-5.4%) | 1.88 | 4,890 |
| 2020-05-01 | $607,300 (-2.6%) | $859,836 (-2.4%) | 1.85 | 5,650 |
| 2020-06-01 | $621,495 (1.1%) | $887,285 (3.3%) | 1.83 | 5,730 |
| 2020-07-01 | $627,000 (4.5%) | $895,943 (5.4%) | 1.82 | 5,736 |
| 2020-08-01 | $625,000 (4.9%) | $885,058 (5.2%) | 1.79 | 5,960 |
| 2020-09-01 | $624,998 (6.0%) | $885,190 (6.1%) | 1.79 | 6,060 |
| 2020-10-01 | $619,990 (5.9%) | $890,063 (7.4%) | 1.78 | 5,839 |
| 2020-11-01 | $626,475 (8.2%) | $922,227 (10.6%) | 1.83 | 4,130 |
| 2020-12-01 | $624,975 (7.8%) | $930,546 (10.0%) | 1.86 | 3,093 |
| 2021-01-01 | $636,500 (8.3%) | $958,413 (10.6%) | 1.90 | 2,425 |
| 2021-02-01 | $648,500 (8.1%) | $953,127 (7.2%) | 1.89 | 2,220 |
| 2021-03-01 | $652,500 (7.6%) | $923,949 (4.8%) | 1.85 | 2,585 |
| 2021-04-01 | $669,963 (11.7%) | $940,235 (10.5%) | 1.81 | 2,764 |
| 2021-05-01 | $679,700 (11.9%) | $945,967 (10.0%) | 1.80 | 2,938 |
| 2021-06-01 | $682,500 (9.8%) | $944,464 (6.4%) | 1.80 | 3,425 |
| 2021-07-01 | $689,950 (10.0%) | $943,488 (5.3%) | 1.82 | 3,641 |
| 2021-08-01 | $674,975 (8.0%) | $912,251 (3.1%) | 1.80 | 3,751 |
| 2021-09-01 | $675,000 (8.0%) | $918,559 (3.8%) | 1.80 | 3,744 |
| 2021-10-01 | $675,000 (8.9%) | $939,515 (5.6%) | 1.80 | 3,323 |
| 2021-11-01 | $674,995 (7.7%) | $947,503 (2.7%) | 1.80 | 2,510 |
| 2021-12-01 | $662,500 (6.0%) | $933,523 (0.3%) | 1.80 | 1,659 |
| 2022-01-01 | $685,000 (7.6%) | $1,001,255 (4.5%) | 1.85 | 1,316 |
| 2022-02-01 | $722,450 (11.4%) | $1,051,000 (10.3%) | 1.88 | 1,540 |
| 2022-03-01 | $749,950 (14.9%) | $1,075,895 (16.5%) | 1.88 | 1,868 |
| 2022-04-01 | $799,900 (19.4%) | $1,128,637 (20.0%) | 1.91 | 2,208 |
| 2022-05-01 | $824,985 (21.4%) | $1,161,901 (22.8%) | 1.89 | 3,972 |
| 2022-06-01 | $802,248 (17.6%) | $1,135,792 (20.3%) | 1.79 | 5,458 |
| 2022-07-01 | $789,950 (14.5%) | $1,083,574 (14.9%) | 1.79 | 6,959 |
| 2022-08-01 | $774,975 (14.8%) | $1,075,489 (17.9%) | 1.79 | 6,960 |
| 2022-09-01 | $762,450 (13.0%) | $1,078,900 (17.5%) | 1.78 | 6,691 |
| 2022-10-01 | $750,000 (11.1%) | $1,060,904 (12.9%) | 1.76 | 6,697 |
| 2022-11-01 | $737,450 (9.3%) | $1,057,166 (11.6%) | 1.77 | 6,004 |
Seattle's median listing price comes in at 177% of the national average.
Seattle's average listing price for 2022-11-01 was $1,057,166, a difference of $109,663 (11.6%) versus the prior year and $-3,738 versus the prior month.
For the 2022-11-01 period, Seattle had 6,004 MLS listings, a difference of -693 listings (-10%) versus the prior month and 3,494 listings (139%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Seattle (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 45 days | 2,184 sqft |
| 2018-02-01 | 27 days | 2,179 sqft |
| 2018-03-01 | 22 days | 2,172 sqft |
| 2018-04-01 | 23 days | 2,153 sqft |
| 2018-05-01 | 19 days | 2,180 sqft |
| 2018-06-01 | 23 days | 2,180 sqft |
| 2018-07-01 | 29 days | 2,136 sqft |
| 2018-08-01 | 31 days | 2,105 sqft |
| 2018-09-01 | 36 days | 2,041 sqft |
| 2018-10-01 | 38 days | 2,036 sqft |
| 2018-11-01 | 46 days | 2,018 sqft |
| 2018-12-01 | 60 days | 2,040 sqft |
| 2019-01-01 | 65 days | 2,085 sqft |
| 2019-02-01 | 44 days | 2,142 sqft |
| 2019-03-01 | 33 days | 2,137 sqft |
| 2019-04-01 | 25 days | 2,160 sqft |
| 2019-05-01 | 28 days | 2,118 sqft |
| 2019-06-01 | 32 days | 2,110 sqft |
| 2019-07-01 | 37 days | 2,110 sqft |
| 2019-08-01 | 39 days | 2,084 sqft |
| 2019-09-01 | 41 days | 2,059 sqft |
| 2019-10-01 | 44 days | 2,045 sqft |
| 2019-11-01 | 51 days | 2,020 sqft |
| 2019-12-01 | 63 days | 2,043 sqft |
| 2020-01-01 | 68 days | 2,051 sqft |
| 2020-02-01 | 33 days | 2,065 sqft |
| 2020-03-01 | 24 days | 2,089 sqft |
| 2020-04-01 | 31 days | 2,077 sqft |
| 2020-05-01 | 36 days | 2,054 sqft |
| 2020-06-01 | 33 days | 2,038 sqft |
| 2020-07-01 | 31 days | 2,010 sqft |
| 2020-08-01 | 31 days | 1,920 sqft |
| 2020-09-01 | 34 days | 1,840 sqft |
| 2020-10-01 | 36 days | 1,776 sqft |
| 2020-11-01 | 42 days | 1,712 sqft |
| 2020-12-01 | 50 days | 1,689 sqft |
| 2021-01-01 | 44 days | 1,664 sqft |
| 2021-02-01 | 31 days | 1,680 sqft |
| 2021-03-01 | 24 days | 1,748 sqft |
| 2021-04-01 | 24 days | 1,773 sqft |
| 2021-05-01 | 22 days | 1,800 sqft |
| 2021-06-01 | 20 days | 1,819 sqft |
| 2021-07-01 | 24 days | 1,824 sqft |
| 2021-08-01 | 27 days | 1,825 sqft |
| 2021-09-01 | 29 days | 1,855 sqft |
| 2021-10-01 | 33 days | 1,845 sqft |
| 2021-11-01 | 36 days | 1,825 sqft |
| 2021-12-01 | 40 days | 1,793 sqft |
| 2022-01-01 | 37 days | 1,790 sqft |
| 2022-02-01 | 17 days | 1,818 sqft |
| 2022-03-01 | 18 days | 1,887 sqft |
| 2022-04-01 | 17 days | 1,963 sqft |
| 2022-05-01 | 16 days | 2,067 sqft |
| 2022-06-01 | 22 days | 2,050 sqft |
| 2022-07-01 | 28 days | 2,041 sqft |
| 2022-08-01 | 34 days | 2,030 sqft |
| 2022-09-01 | 40 days | 2,014 sqft |
| 2022-10-01 | 39 days | 1,974 sqft |
| 2022-11-01 | 46 days | 1,956 sqft |
Seattle's median square footage for active listings during the 2022-11-01 period was 1,956 sqft. One year prior, the average listing was 1,825 sqft.
