St. Louis VA Loans
ST. LOUIS, MO-IL
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.
St. Louis's 220 lenders originated 10,745 VA loans during 2021. The total origination value was $2,614,315,000, with an average VA loan value of $243,305.
St. Louis VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in St. Louis
averaged
5.28%
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
5.39% and
one month ago for the week of 2022-04-15, the
average rate was 5.16%.
The average rate one year ago was 3.05%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.4%.
St. Louis 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 St. Louis level.
The top St. Louis VA lender as defined by loan originations is Mortgage Research Center, LLC, with
1,224 VA loans originated. Their average total fees are
$5,181, which is $797
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee St. Louis VA lenders (with over 10 loans originated) are
FREEDOM MORTGAGE CORPORATION ($2,294), SUN WEST MORTGAGE COMPANY, INC. ($2,304), AMERICAN PORTFOLIO MORTGAGE CORPORATION ($2,555), LAKEVIEW LOAN SERVICING, LLC ($2,658) and SCOTT CREDIT UNION ($2,805).
The lowest rate St. Louis VA lenders (with over 10 loans originated) are
CLEARPATH LENDING (2.26%), BNC National Bank (2.33%), Low VA Rates, LLC (2.38%), PENTAGON FEDERAL CREDIT UNION (2.39%) and FCB Banks (2.41%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - St. Louis (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 | $189,900 (11.8%) | $274,355 (7.0%) | 0.70 | 8,464 |
| 2018-02-01 | $195,450 (12.7%) | $280,387 (6.1%) | 0.71 | 8,354 |
| 2018-03-01 | $209,900 (12.1%) | $294,055 (5.9%) | 0.73 | 8,698 |
| 2018-04-01 | $216,900 (11.3%) | $303,714 (6.1%) | 0.73 | 8,817 |
| 2018-05-01 | $220,000 (7.3%) | $309,457 (4.7%) | 0.73 | 9,224 |
| 2018-06-01 | $220,000 (6.7%) | $311,532 (5.4%) | 0.73 | 9,790 |
| 2018-07-01 | $219,900 (7.3%) | $306,286 (5.4%) | 0.73 | 10,320 |
| 2018-08-01 | $219,900 (10.6%) | $303,157 (6.6%) | 0.73 | 10,554 |
| 2018-09-01 | $217,900 (9.2%) | $300,257 (5.0%) | 0.73 | 10,573 |
| 2018-10-01 | $215,000 (7.6%) | $297,144 (3.3%) | 0.72 | 10,669 |
| 2018-11-01 | $211,700 (7.3%) | $292,525 (3.0%) | 0.71 | 10,183 |
| 2018-12-01 | $204,900 (7.9%) | $283,477 (2.7%) | 0.70 | 9,134 |
| 2019-01-01 | $200,850 (5.8%) | $278,701 (1.6%) | 0.69 | 7,992 |
| 2019-02-01 | $214,950 (10.0%) | $294,903 (5.2%) | 0.72 | 7,629 |
| 2019-03-01 | $223,671 (6.6%) | $302,221 (2.8%) | 0.73 | 7,781 |
| 2019-04-01 | $229,900 (6.0%) | $309,072 (1.8%) | 0.72 | 7,971 |
| 2019-05-01 | $235,450 (7.0%) | $317,102 (2.5%) | 0.73 | 8,273 |
| 2019-06-01 | $237,000 (7.7%) | $320,219 (2.8%) | 0.73 | 8,637 |
| 2019-07-01 | $230,000 (4.6%) | $317,773 (3.8%) | 0.71 | 8,914 |
| 2019-08-01 | $227,857 (3.6%) | $313,561 (3.4%) | 0.72 | 8,930 |
| 2019-09-01 | $225,000 (3.3%) | $309,940 (3.2%) | 0.71 | 8,978 |
| 2019-10-01 | $224,900 (4.6%) | $306,675 (3.2%) | 0.72 | 9,262 |
| 2019-11-01 | $223,000 (5.3%) | $306,276 (4.7%) | 0.72 | 8,863 |
| 2019-12-01 | $216,383 (5.6%) | $298,943 (5.5%) | 0.72 | 7,861 |
| 2020-01-01 | $216,192 (7.6%) | $296,817 (6.5%) | 0.72 | 6,959 |
| 2020-02-01 | $225,000 (4.7%) | $310,155 (5.2%) | 0.73 | 6,372 |
| 2020-03-01 | $234,950 (5.0%) | $312,693 (3.5%) | 0.73 | 6,417 |
| 2020-04-01 | $239,700 (4.3%) | $314,752 (1.8%) | 0.75 | 6,482 |
| 2020-05-01 | $249,900 (6.1%) | $327,532 (3.3%) | 0.76 | 6,288 |
| 2020-06-01 | $253,950 (7.2%) | $339,790 (6.1%) | 0.74 | 6,024 |
| 2020-07-01 | $252,500 (9.8%) | $343,218 (8.0%) | 0.72 | 5,805 |
| 2020-08-01 | $255,000 (11.9%) | $346,380 (10.5%) | 0.73 | 5,668 |
| 2020-09-01 | $260,145 (15.6%) | $358,072 (15.5%) | 0.74 | 5,582 |
| 2020-10-01 | $254,900 (13.3%) | $353,714 (15.3%) | 0.73 | 5,678 |
| 2020-11-01 | $244,000 (9.4%) | $345,325 (12.8%) | 0.70 | 5,380 |
| 2020-12-01 | $237,450 (9.7%) | $335,857 (12.4%) | 0.70 | 4,783 |
| 2021-01-01 | $245,900 (13.7%) | $341,509 (15.1%) | 0.72 | 4,042 |
| 2021-02-01 | $251,900 (12.0%) | $347,371 (12.0%) | 0.72 | 3,580 |
| 2021-03-01 | $259,400 (10.4%) | $350,015 (11.9%) | 0.73 | 3,585 |
| 2021-04-01 | $262,337 (9.4%) | $360,671 (14.6%) | 0.70 | 3,590 |
| 2021-05-01 | $259,500 (3.8%) | $361,171 (10.3%) | 0.68 | 3,482 |
| 2021-06-01 | $259,900 (2.3%) | $357,122 (5.1%) | 0.68 | 3,877 |
| 2021-07-01 | $254,950 (1.0%) | $353,865 (3.1%) | 0.66 | 4,612 |
| 2021-08-01 | $250,000 (-2.0%) | $347,187 (0.2%) | 0.66 | 4,781 |
| 2021-09-01 | $250,000 (-3.9%) | $343,966 (-3.9%) | 0.66 | 4,727 |
| 2021-10-01 | $245,000 (-3.9%) | $341,249 (-3.5%) | 0.64 | 4,552 |
| 2021-11-01 | $242,450 (-0.6%) | $342,242 (-0.9%) | 0.64 | 4,172 |
| 2021-12-01 | $245,000 (3.2%) | $341,859 (1.8%) | 0.65 | 3,504 |
| 2022-01-01 | $249,000 (1.3%) | $344,529 (0.9%) | 0.66 | 3,021 |
| 2022-02-01 | $266,450 (5.8%) | $350,583 (0.9%) | 0.68 | 2,852 |
| 2022-03-01 | $274,950 (6.0%) | $353,273 (0.9%) | 0.68 | 2,949 |
| 2022-04-01 | $273,900 (4.4%) | $342,727 (-5.0%) | 0.64 | 3,126 |
St. Louis's median listing price comes in at 64% of the national average.
St. Louis's average listing price for 2022-04-01 was $342,727, a difference of $-17,944 (-5.0%) versus the prior year and $-10,546 versus the prior month.
For the 2022-04-01 period, St. Louis had 3,126 MLS listings, a difference of 177 listings (6%) versus the prior month and -464 listings (-13%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - St. Louis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 87 days | 1,677 sqft |
| 2018-02-01 | 82 days | 1,692 sqft |
| 2018-03-01 | 59 days | 1,746 sqft |
| 2018-04-01 | 58 days | 1,772 sqft |
| 2018-05-01 | 57 days | 1,782 sqft |
| 2018-06-01 | 54 days | 1,768 sqft |
| 2018-07-01 | 57 days | 1,753 sqft |
| 2018-08-01 | 58 days | 1,743 sqft |
| 2018-09-01 | 63 days | 1,728 sqft |
| 2018-10-01 | 66 days | 1,715 sqft |
| 2018-11-01 | 69 days | 1,699 sqft |
| 2018-12-01 | 80 days | 1,680 sqft |
| 2019-01-01 | 92 days | 1,661 sqft |
| 2019-02-01 | 89 days | 1,717 sqft |
| 2019-03-01 | 69 days | 1,741 sqft |
| 2019-04-01 | 57 days | 1,749 sqft |
| 2019-05-01 | 56 days | 1,764 sqft |
| 2019-06-01 | 57 days | 1,771 sqft |
| 2019-07-01 | 59 days | 1,765 sqft |
| 2019-08-01 | 58 days | 1,756 sqft |
| 2019-09-01 | 63 days | 1,745 sqft |
| 2019-10-01 | 65 days | 1,736 sqft |
| 2019-11-01 | 70 days | 1,720 sqft |
| 2019-12-01 | 82 days | 1,692 sqft |
| 2020-01-01 | 90 days | 1,674 sqft |
| 2020-02-01 | 88 days | 1,708 sqft |
| 2020-03-01 | 63 days | 1,753 sqft |
| 2020-04-01 | 60 days | 1,788 sqft |
| 2020-05-01 | 68 days | 1,823 sqft |
| 2020-06-01 | 69 days | 1,856 sqft |
| 2020-07-01 | 60 days | 1,856 sqft |
| 2020-08-01 | 57 days | 1,839 sqft |
| 2020-09-01 | 59 days | 1,843 sqft |
| 2020-10-01 | 57 days | 1,800 sqft |
| 2020-11-01 | 59 days | 1,763 sqft |
| 2020-12-01 | 70 days | 1,733 sqft |
| 2021-01-01 | 77 days | 1,736 sqft |
| 2021-02-01 | 74 days | 1,728 sqft |
| 2021-03-01 | 59 days | 1,730 sqft |
| 2021-04-01 | 55 days | 1,741 sqft |
| 2021-05-01 | 44 days | 1,712 sqft |
| 2021-06-01 | 42 days | 1,715 sqft |
| 2021-07-01 | 39 days | 1,720 sqft |
| 2021-08-01 | 41 days | 1,704 sqft |
| 2021-09-01 | 46 days | 1,684 sqft |
| 2021-10-01 | 49 days | 1,646 sqft |
| 2021-11-01 | 50 days | 1,618 sqft |
| 2021-12-01 | 58 days | 1,612 sqft |
| 2022-01-01 | 63 days | 1,600 sqft |
| 2022-02-01 | 59 days | 1,626 sqft |
| 2022-03-01 | 45 days | 1,663 sqft |
| 2022-04-01 | 40 days | 1,665 sqft |
St. Louis's median square footage for active listings during the 2022-04-01 period was 1,665 sqft. One year prior, the average listing was 1,741 sqft.
