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 201 lenders originated 6,100 VA loans during 2022. The total origination value was $3,218,220,000, with an average VA loan value of $527,577.
Seattle VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Seattle
averaged
6.14%
for the week of 2023-05-26, compared to the national average (all VA variants) of
6.408% for the same period.
Seattle's average VA mortgage closing costs are $8,178.
The average rate for the prior week (2023-05-19) was
5.67% and
one month ago for the week of 2023-04-21, the
average rate was 5.59%.
The average rate one year ago was 4.86%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.13%.
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 Mortgage Research Center, LLC, with
513 VA loans originated. Their average total fees are
$11,216, which is $2,049
lower than the next largest lender,
FAIRWAY INDEPENDENT MORTGAGE CORPORATION.
The lowest fee Seattle VA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($6,674), HOMEAMERICAN MORTGAGE CORPORATION ($7,174), Lakeview Community Capital, LLC ($7,370), Wells Fargo Bank ($7,477) and EVERETT FINANCIAL, INC. ($8,348).
The lowest rate Seattle VA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC (3.16%), PENTAGON FEDERAL CREDIT UNION (3.30%), PENNYMAC LOAN SERVICES, LLC (3.36%), Strong Home Mortgage, LLC (3.36%) and PLANET HOME LENDING, LLC (3.68%).
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 | $550,970 (13.0%) | $794,971 (6.7%) | 1.85 | 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%) | 2.01 | 5,429 |
| 2019-03-01 | $599,990 (9.1%) | $875,207 (2.3%) | 2.00 | 5,713 |
| 2019-04-01 | $627,450 (12.1%) | $902,630 (4.9%) | 1.99 | 5,935 |
| 2019-05-01 | $623,714 (9.1%) | $881,335 (2.4%) | 1.95 | 7,098 |
| 2019-06-01 | $614,950 (7.0%) | $859,290 (0.2%) | 1.92 | 7,807 |
| 2019-07-01 | $599,995 (6.0%) | $850,226 (3.2%) | 1.88 | 7,784 |
| 2019-08-01 | $605,364 (9.9%) | $872,789 (9.8%) | 1.90 | 7,745 |
| 2019-09-01 | $599,975 (9.1%) | $873,107 (11.3%) | 1.89 | 7,143 |
| 2019-10-01 | $587,000 (6.2%) | $829,504 (6.1%) | 1.89 | 8,333 |
| 2019-11-01 | $579,000 (5.3%) | $833,915 (6.7%) | 1.90 | 6,740 |
| 2019-12-01 | $579,963 (5.5%) | $846,325 (7.2%) | 1.93 | 4,769 |
| 2020-01-01 | $587,500 (4.5%) | $867,078 (6.1%) | 1.96 | 3,867 |
| 2020-02-01 | $599,900 (1.0%) | $889,450 (3.5%) | 1.96 | 3,791 |
| 2020-03-01 | $606,735 (1.1%) | $882,182 (0.8%) | 1.90 | 4,300 |
| 2020-04-01 | $599,950 (-4.4%) | $851,056 (-5.7%) | 1.88 | 4,889 |
| 2020-05-01 | $608,000 (-2.5%) | $859,906 (-2.4%) | 1.85 | 5,649 |
| 2020-06-01 | $621,498 (1.1%) | $887,354 (3.3%) | 1.83 | 5,729 |
| 2020-07-01 | $627,000 (4.5%) | $896,012 (5.4%) | 1.82 | 5,735 |
| 2020-08-01 | $625,000 (3.2%) | $885,121 (1.4%) | 1.79 | 5,959 |
| 2020-09-01 | $624,999 (4.2%) | $885,251 (1.4%) | 1.79 | 6,059 |
| 2020-10-01 | $619,990 (5.6%) | $890,134 (7.3%) | 1.78 | 5,838 |
| 2020-11-01 | $626,725 (8.2%) | $922,318 (10.6%) | 1.83 | 4,129 |
| 2020-12-01 | $624,975 (7.8%) | $930,668 (10.0%) | 1.86 | 3,092 |
| 2021-01-01 | $638,000 (8.6%) | $958,591 (10.6%) | 1.90 | 2,424 |
| 2021-02-01 | $648,625 (8.1%) | $953,315 (7.2%) | 1.89 | 2,219 |
| 2021-03-01 | $652,500 (7.5%) | $924,093 (4.8%) | 1.85 | 2,584 |
| 2021-04-01 | $669,975 (11.7%) | $940,369 (10.5%) | 1.81 | 2,763 |
| 2021-05-01 | $679,900 (11.8%) | $946,099 (10.0%) | 1.81 | 2,937 |
| 2021-06-01 | $683,725 (10.0%) | $944,535 (6.4%) | 1.80 | 3,425 |
| 2021-07-01 | $689,950 (10.0%) | $943,656 (5.3%) | 1.82 | 3,642 |
| 2021-08-01 | $674,975 (8.0%) | $912,385 (3.1%) | 1.80 | 3,753 |
| 2021-09-01 | $675,000 (8.0%) | $918,555 (3.8%) | 1.80 | 3,744 |
| 2021-10-01 | $675,000 (8.9%) | $939,780 (5.6%) | 1.80 | 3,324 |
| 2021-11-01 | $674,995 (7.7%) | $947,598 (2.7%) | 1.80 | 2,510 |
| 2021-12-01 | $662,500 (6.0%) | $933,640 (0.3%) | 1.79 | 1,659 |
| 2022-01-01 | $685,000 (7.4%) | $1,001,556 (4.5%) | 1.85 | 1,315 |
| 2022-02-01 | $722,450 (11.4%) | $1,051,274 (10.3%) | 1.88 | 1,539 |
| 2022-03-01 | $749,950 (14.9%) | $1,076,048 (16.4%) | 1.88 | 1,867 |
| 2022-04-01 | $799,925 (19.4%) | $1,128,853 (20.0%) | 1.91 | 2,207 |
| 2022-05-01 | $824,995 (21.3%) | $1,162,007 (22.8%) | 1.89 | 3,971 |
| 2022-06-01 | $802,495 (17.4%) | $1,135,898 (20.3%) | 1.79 | 5,457 |
| 2022-07-01 | $789,950 (14.5%) | $1,083,456 (14.8%) | 1.79 | 6,958 |
| 2022-08-01 | $774,975 (14.8%) | $1,075,299 (17.9%) | 1.79 | 6,964 |
| 2022-09-01 | $762,375 (12.9%) | $1,078,768 (17.4%) | 1.78 | 6,694 |
| 2022-10-01 | $750,000 (11.1%) | $1,060,742 (12.9%) | 1.76 | 6,701 |
| 2022-11-01 | $737,450 (9.3%) | $1,057,119 (11.6%) | 1.77 | 6,006 |
| 2022-12-01 | $725,000 (9.4%) | $1,038,919 (11.3%) | 1.79 | 4,558 |
| 2023-01-01 | $726,750 (6.1%) | $1,041,817 (4.0%) | 1.80 | 3,673 |
| 2023-02-01 | $749,950 (3.8%) | $1,106,188 (5.2%) | 1.81 | 3,115 |
| 2023-03-01 | $788,975 (5.2%) | $1,177,753 (9.5%) | 1.86 | 3,105 |
| 2023-04-01 | $825,000 (3.1%) | $1,236,615 (9.6%) | 1.92 | 3,164 |
Seattle's median listing price comes in at 192% of the national average.
Seattle's average listing price for 2023-04-01 was $1,236,615, a difference of $107,762 (9.6%) versus the prior year and $58,862 versus the prior month.
For the 2023-04-01 period, Seattle had 3,164 MLS listings, a difference of 59 listings (2%) versus the prior month and 957 listings (43%) 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 | 2,183 sqft |
| 2018-02-01 | 27 days | 2,178 sqft |
| 2018-03-01 | 22 days | 2,171 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 | 2,104 sqft |
| 2018-09-01 | 36 days | 2,040 sqft |
| 2018-10-01 | 38 days | 2,035 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 | 38 days | 2,140 sqft |
| 2019-04-01 | 25 days | 2,164 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 | 51 days | 2,150 sqft |
| 2019-09-01 | 52 days | 2,117 sqft |
| 2019-10-01 | 44 days | 2,049 sqft |
| 2019-11-01 | 51 days | 2,020 sqft |
| 2019-12-01 | 63 days | 2,045 sqft |
| 2020-01-01 | 68 days | 2,052 sqft |
| 2020-02-01 | 33 days | 2,066 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 | 2,009 sqft |
| 2020-08-01 | 31 days | 1,920 sqft |
| 2020-09-01 | 34 days | 1,841 sqft |
| 2020-10-01 | 36 days | 1,778 sqft |
| 2020-11-01 | 42 days | 1,713 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 | 1,774 sqft |
| 2021-05-01 | 22 days | 1,800 sqft |
| 2021-06-01 | 20 days | 1,820 sqft |
| 2021-07-01 | 24 days | 1,828 sqft |
| 2021-08-01 | 26 days | 1,825 sqft |
| 2021-09-01 | 29 days | 1,856 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 | 1,792 sqft |
| 2022-02-01 | 17 days | 1,819 sqft |
| 2022-03-01 | 18 days | 1,887 sqft |
| 2022-04-01 | 17 days | 1,963 sqft |
| 2022-05-01 | 16 days | 2,068 sqft |
| 2022-06-01 | 22 days | 2,050 sqft |
| 2022-07-01 | 28 days | 2,040 sqft |
| 2022-08-01 | 34 days | 2,027 sqft |
| 2022-09-01 | 40 days | 2,011 sqft |
| 2022-10-01 | 39 days | 1,970 sqft |
| 2022-11-01 | 46 days | 1,954 sqft |
| 2022-12-01 | 60 days | 1,960 sqft |
| 2023-01-01 | 66 days | 1,952 sqft |
| 2023-02-01 | 45 days | 1,989 sqft |
| 2023-03-01 | 33 days | 2,055 sqft |
| 2023-04-01 | 31 days | 2,030 sqft |
Seattle's median square footage for active listings during the 2023-04-01 period was 2,030 sqft. One year prior, the average listing was 1,963 sqft.