Walla Walla VA Loans

WALLA WALLA, WA

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    • 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.