Walla Walla VA Loans

WALLA WALLA, 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 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.

Walla Walla's 52 lenders originated 267 VA loans during 2021. The total origination value was $82,715,000, with an average VA loan value of $309,794.

Walla Walla VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Walla Walla averaged 5.41% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.74% and one month ago for the week of 2022-04-08, the average rate was 5.17%.

The average rate one year ago was 2.88%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.16%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Walla Walla 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 Walla Walla level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 22 2.60% $3,879
ACADEMY MORTGAGE CORPORATION 21 2.88% $10,308
FREEDOM MORTGAGE CORPORATION 21 2.43% $3,624
PREMIER MORTGAGE RESOURCES, L.L.C. 20 2.91% $8,144
Mortgage Research Center, LLC 20 2.71% $4,871
PENNYMAC LOAN SERVICES, LLC 16 2.40% $8,585
NAVY FEDERAL CREDIT UNION 10 2.64% $8,379
NEW DAY FINANCIAL, LLC 6 2.75% $4,503
CALIBER HOME LOANS, INC. 5 2.53% $3,155
GUILD MORTGAGE COMPANY 5 2.43% $5,291
Wells Fargo Bank 5 2.25% $6,338
CHERRY CREEK MORTGAGE, LLC 5 2.90% $918
NEWREZ LLC 4 2.59% $2,299
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 2.87% $5,140
UNITED WHOLESALE MORTGAGE, LLC 4 2.31% $4,095
USAA Federal Savings Bank 4 2.91% $2,270
LOANDEPOT.COM, LLC 4 2.47% $3,951
The Federal Savings Bank 3 2.58% $9,647
Carrington Mortgage Services, LLC 3 2.71% $3,559
LAKEVIEW LOAN SERVICING, LLC 3 2.54% $2,317
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 2.88% $3,175
AMERISAVE MORTGAGE CORPORATION 3 2.67% $5,888
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 3 3.71% $11,592
U.S. Bank 3 2.75% $4,872
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 2.75% $10,857
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.50% $13,770
HOME POINT FINANCIAL CORPORATION 3 2.71% $4,011
SUN WEST MORTGAGE COMPANY, INC. 2 2.25% $3,440
PENTAGON FEDERAL CREDIT UNION 2 2.63% $2,560
CMG MORTGAGE, INC. 2 2.50% $9,490
AMERICAN FINANCIAL NETWORK, INC. 2 2.88% $17,796
NBKC BANK 2 2.38% $3,509
THRIVE MORTGAGE, LLC 1 3.25% $2,769
Banner Bank 1 2.25% $2,026
BNC National Bank 1 2.50% $8,643
Capital Bank 1 2.25% $3,820
CROSSCOUNTRY MORTGAGE, LLC 1 3.13% $800
ENVOY MORTGAGE, LTD 1 3.50% $25,640
First Home Bank 1 3.25% $3,151
First Savings Bank 1 2.88% $1,397
Flagstar Bank, FSB 1 2.25% $14,404
GUARANTEED RATE, INC. 1 2.75% $2,265
Low VA Rates, LLC 1 2.50% $0
NETWORK CAPITAL FUNDING CORPORATION 1 2.75% $1,022
ON Q FINANCIAL, INC. 1 2.75% $17,901
PLANET HOME LENDING, LLC 1 2.25% $3,930
Service Federal Credit Union 1 2.75% $3,316
Sierra Pacific Mortgage Company, Inc. 1 2.38% $2,131
STEARNS LENDING, LLC 1 2.25% $3,465
SWBC MORTGAGE CORPORATION 1 2.88% $3,928
VILLAGE CAPITAL & INVESTMENT LLC 1 2.25% $1,192
Washington Trust Bank 1 2.38% $1,261

The top Walla Walla VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 22 VA loans originated. Their average total fees are $3,879, which is $6,430 lower than the next largest lender, ACADEMY MORTGAGE CORPORATION.

The lowest fee Walla Walla VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($3,624), QUICKEN LOANS, LLC ($3,879), Mortgage Research Center, LLC ($4,871), PREMIER MORTGAGE RESOURCES, L.L.C. ($8,144) and NAVY FEDERAL CREDIT UNION ($8,379).

The lowest rate Walla Walla VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.40%), FREEDOM MORTGAGE CORPORATION (2.43%), QUICKEN LOANS, LLC (2.60%), NAVY FEDERAL CREDIT UNION (2.64%) and Mortgage Research Center, LLC (2.71%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Walla Walla (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 $267,500 (10.8%) $332,885 (11.0%) 0.00 165
2018-02-01 $289,000 (24.4%) $349,929 (17.7%) 0.00 168
2018-03-01 $304,941 (31.2%) $353,713 (15.4%) 0.00 167
2018-04-01 $302,500 (28.8%) $370,328 (17.8%) 0.00 174
2018-05-01 $325,000 (30.1%) $387,149 (17.2%) 0.00 162
2018-06-01 $325,000 (30.0%) $386,137 (17.2%) 0.00 160
2018-07-01 $324,950 (27.4%) $397,140 (19.8%) 0.00 166
2018-08-01 $325,000 (30.0%) $392,907 (15.1%) 0.00 191
2018-09-01 $329,000 (22.3%) $394,187 (15.8%) 0.00 198
2018-10-01 $325,000 (20.2%) $376,465 (9.8%) 0.00 203
2018-11-01 $325,000 (27.8%) $367,009 (9.0%) 0.00 203
2018-12-01 $325,000 (30.5%) $371,187 (11.7%) 0.00 182
2019-01-01 $320,000 (19.6%) $360,260 (8.2%) 0.00 182
2019-02-01 $325,000 (12.5%) $372,490 (6.5%) 0.00 164
2019-03-01 $329,929 (8.2%) $379,538 (7.3%) 0.00 158
2019-04-01 $333,704 (10.3%) $382,248 (3.2%) 0.00 160
2019-05-01 $359,825 (10.7%) $412,765 (6.6%) 0.00 181
2019-06-01 $369,500 (13.7%) $406,839 (5.4%) 0.00 184
2019-07-01 $379,950 (16.9%) $431,496 (8.7%) 0.00 208
2019-08-01 $360,143 (10.8%) $414,303 (5.5%) 0.00 210
2019-09-01 $335,000 (1.8%) $397,891 (0.9%) 0.00 207
2019-10-01 $347,000 (6.8%) $395,335 (5.0%) 0.00 207
2019-11-01 $359,500 (10.6%) $401,489 (9.4%) 0.00 195
2019-12-01 $389,990 (20.0%) $427,427 (15.2%) 0.00 150
2020-01-01 $382,475 (19.5%) $419,317 (16.4%) 0.00 128
2020-02-01 $339,000 (4.3%) $396,745 (6.5%) 0.00 134
2020-03-01 $382,450 (15.9%) $406,630 (7.1%) 0.00 122
2020-04-01 $365,000 (9.4%) $394,778 (3.3%) 0.00 127
2020-05-01 $369,000 (2.6%) $401,775 (-2.7%) 0.00 137
2020-06-01 $384,950 (4.2%) $412,193 (1.3%) 0.00 121
2020-07-01 $409,450 (7.8%) $475,526 (10.2%) 0.00 119
2020-08-01 $420,000 (16.6%) $485,861 (17.3%) 0.00 114
2020-09-01 $374,000 (11.6%) $484,716 (21.8%) 0.00 105
2020-10-01 $359,000 (3.5%) $470,189 (18.9%) 0.00 82
2020-11-01 $399,900 (11.2%) $580,163 (44.5%) 0.00 68
2020-12-01 $404,950 (3.8%) $573,802 (34.3%) 0.00 61
2021-01-01 $425,000 (11.1%) $538,878 (28.5%) 0.00 50
2021-02-01 $449,445 (32.6%) $606,874 (53.0%) 0.00 47
2021-03-01 $434,000 (13.5%) $586,582 (44.3%) 0.00 43
2021-04-01 $397,450 (8.9%) $575,659 (45.8%) 0.00 52
2021-05-01 $425,000 (15.2%) $646,100 (60.8%) 0.00 15
2021-06-01 $499,500 (29.8%) $619,001 (50.2%) 0.00 24
2021-07-01 $449,500 (9.8%) $614,816 (29.3%) 0.00 38
2021-08-01 $437,000 (4.1%) $628,655 (29.4%) 0.00 41
2021-09-01 $454,000 (21.4%) $625,318 (29.0%) 0.00 53
2021-10-01 $450,000 (25.4%) $668,248 (42.1%) 0.00 70
2021-11-01 $448,498 (12.2%) $699,312 (20.5%) 0.00 56
2021-12-01 $493,750 (21.9%) $737,858 (28.6%) 0.00 50
2022-01-01 $509,000 (19.8%) $785,760 (45.8%) 0.00 46
2022-02-01 $476,000 (5.9%) $736,797 (21.4%) 0.00 46
2022-03-01 $549,450 (26.6%) $753,279 (28.4%) 0.00 40
2022-04-01 $529,000 (33.1%) $709,996 (23.3%) 0.00 50
Walla Walla's median listing price for 2022-04-01 was $529,000, a difference of $131,550 (33.1%) versus the prior year and $-20,450 versus the prior month.

Walla Walla's median listing price comes in at 0% of the national average.

Walla Walla's average listing price for 2022-04-01 was $709,996, a difference of $134,337 (23.3%) versus the prior year and $-43,283 versus the prior month.

For the 2022-04-01 period, Walla Walla had 50 MLS listings, a difference of 10 listings (25%) versus the prior month and -2 listings (-4%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Walla Walla (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,023 sqft
2018-02-01 0 days 2,038 sqft
2018-03-01 0 days 2,092 sqft
2018-04-01 0 days 2,142 sqft
2018-05-01 0 days 2,205 sqft
2018-06-01 0 days 2,136 sqft
2018-07-01 0 days 2,136 sqft
2018-08-01 0 days 2,153 sqft
2018-09-01 0 days 2,161 sqft
2018-10-01 0 days 2,112 sqft
2018-11-01 0 days 2,116 sqft
2018-12-01 0 days 2,185 sqft
2019-01-01 0 days 2,124 sqft
2019-02-01 0 days 2,185 sqft
2019-03-01 0 days 2,264 sqft
2019-04-01 0 days 2,331 sqft
2019-05-01 0 days 2,368 sqft
2019-06-01 0 days 2,368 sqft
2019-07-01 0 days 2,457 sqft
2019-08-01 0 days 2,409 sqft
2019-09-01 0 days 2,326 sqft
2019-10-01 0 days 2,252 sqft
2019-11-01 0 days 2,340 sqft
2019-12-01 0 days 2,355 sqft
2020-01-01 0 days 2,348 sqft
2020-02-01 0 days 2,320 sqft
2020-03-01 0 days 2,340 sqft
2020-04-01 0 days 2,260 sqft
2020-05-01 0 days 2,242 sqft
2020-06-01 0 days 2,258 sqft
2020-07-01 0 days 2,387 sqft
2020-08-01 0 days 2,320 sqft
2020-09-01 0 days 2,320 sqft
2020-10-01 0 days 2,081 sqft
2020-11-01 0 days 2,145 sqft
2020-12-01 0 days 2,178 sqft
2021-01-01 0 days 2,240 sqft
2021-02-01 0 days 2,443 sqft
2021-03-01 0 days 2,417 sqft
2021-04-01 0 days 2,356 sqft
2021-05-01 0 days 2,520 sqft
2021-06-01 0 days 2,501 sqft
2021-07-01 0 days 2,263 sqft
2021-08-01 0 days 2,122 sqft
2021-09-01 0 days 2,172 sqft
2021-10-01 0 days 2,184 sqft
2021-11-01 0 days 2,268 sqft
2021-12-01 0 days 2,327 sqft
2022-01-01 0 days 2,268 sqft
2022-02-01 0 days 2,277 sqft
2022-03-01 0 days 2,311 sqft
2022-04-01 0 days 2,200 sqft
Walla Walla's median listing age (time on market) for 2022-04-01 was 0 days.

Walla Walla's median square footage for active listings during the 2022-04-01 period was 2,200 sqft. One year prior, the average listing was 2,356 sqft.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.