Washington VA Loan Rates, Closing Costs & Stats
Washington-Arlington-Alexandria, DC-VA-MD-WV
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.
Washington's 253 lenders originated 10,789 VA loans during 2023. The total origination value was $6,156,715,000, with an average VA loan value of $570,647.
Washington VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Washington
averaged
6.56%
for the week of 2024-04-19, compared to the national average (all VA variants) of
6.758% for the same period.
Washington's average VA mortgage closing costs are $8,695.
The average rate for the prior week (2024-04-12) was
6.69% and
one month ago for the week of 2024-03-15, the
average rate was 6.35%.
The average rate one year ago was 6.04%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.13%.
Washington 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 Washington level.
The top Washington VA lender as defined by loan originations is Mortgage Research Center, LLC, with
812 VA loans originated. Their average total fees are
$10,835, which is $574
higher than the next largest lender,
NAVY FEDERAL CREDIT UNION.
The lowest fee Washington VA lenders (with over 10 loans originated) are
EAGLE HOME MORTGAGE, LLC ($6,819), HOMEAMERICAN MORTGAGE CORPORATION ($7,011), JET HOMELOANS, LLC ($8,188), PULTE MORTGAGE LLC ($8,599) and K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. ($9,384).
The lowest rate Washington VA lenders (with over 10 loans originated) are
North American Savings Bank, F.S.B. (5.38%), BNC National Bank (5.44%), PENNYMAC LOAN SERVICES, LLC (5.54%), MCLEAN MORTGAGE CORPORATION (5.59%) and PENTAGON FEDERAL CREDIT UNION (5.61%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Washington (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 | $429,995 (2.0%) | $635,658 (1.3%) | 1.59 | 12,355 |
| 2018-02-01 | $442,000 (2.3%) | $648,853 (0.7%) | 1.60 | 12,214 |
| 2018-03-01 | $464,990 (3.9%) | $664,284 (0.8%) | 1.63 | 13,617 |
| 2018-04-01 | $475,000 (3.3%) | $675,264 (1.1%) | 1.61 | 15,527 |
| 2018-05-01 | $474,950 (2.1%) | $676,005 (1.6%) | 1.59 | 16,840 |
| 2018-06-01 | $475,000 (1.8%) | $673,246 (1.9%) | 1.58 | 17,459 |
| 2018-07-01 | $463,500 (0.8%) | $655,427 (0.8%) | 1.55 | 17,899 |
| 2018-08-01 | $449,950 (0.4%) | $636,585 (1.0%) | 1.51 | 17,939 |
| 2018-09-01 | $449,900 (0.0%) | $632,435 (-0.6%) | 1.51 | 18,577 |
| 2018-10-01 | $449,900 (0.2%) | $633,612 (-0.7%) | 1.52 | 18,685 |
| 2018-11-01 | $444,950 (1.2%) | $632,700 (-0.1%) | 1.51 | 17,498 |
| 2018-12-01 | $434,900 (1.2%) | $631,860 (0.1%) | 1.50 | 14,330 |
| 2019-01-01 | $432,450 (0.6%) | $637,531 (0.3%) | 1.49 | 12,141 |
| 2019-02-01 | $446,750 (1.1%) | $654,346 (0.9%) | 1.51 | 11,828 |
| 2019-03-01 | $462,857 (-0.5%) | $670,627 (1.0%) | 1.51 | 12,876 |
| 2019-04-01 | $479,000 (0.8%) | $683,273 (1.2%) | 1.52 | 14,120 |
| 2019-05-01 | $487,000 (2.5%) | $689,187 (2.0%) | 1.52 | 15,296 |
| 2019-06-01 | $485,000 (2.1%) | $685,826 (1.9%) | 1.52 | 15,938 |
| 2019-07-01 | $475,000 (2.5%) | $671,612 (2.5%) | 1.49 | 15,785 |
| 2019-08-01 | $475,000 (5.6%) | $675,848 (6.2%) | 1.50 | 15,554 |
| 2019-09-01 | $475,000 (5.6%) | $684,475 (8.2%) | 1.52 | 15,412 |
| 2019-10-01 | $475,000 (5.6%) | $690,788 (9.0%) | 1.53 | 15,251 |
| 2019-11-01 | $474,990 (6.8%) | $698,042 (10.3%) | 1.56 | 13,853 |
| 2019-12-01 | $469,925 (8.1%) | $707,559 (12.0%) | 1.57 | 10,986 |
| 2020-01-01 | $466,625 (7.9%) | $715,637 (12.3%) | 1.56 | 9,518 |
| 2020-02-01 | $481,000 (7.7%) | $739,602 (13.0%) | 1.57 | 9,263 |
| 2020-03-01 | $501,870 (8.4%) | $762,677 (13.7%) | 1.57 | 9,912 |
| 2020-04-01 | $499,900 (4.4%) | $737,096 (7.9%) | 1.57 | 10,552 |
| 2020-05-01 | $509,000 (4.5%) | $757,241 (9.9%) | 1.55 | 10,595 |
| 2020-06-01 | $527,250 (8.7%) | $782,271 (14.1%) | 1.55 | 9,949 |
| 2020-07-01 | $527,450 (11.0%) | $792,634 (18.0%) | 1.53 | 9,128 |
| 2020-08-01 | $525,000 (10.5%) | $794,895 (17.6%) | 1.50 | 8,806 |
| 2020-09-01 | $517,000 (8.8%) | $788,822 (15.2%) | 1.48 | 9,231 |
| 2020-10-01 | $499,990 (5.3%) | $768,736 (11.3%) | 1.43 | 9,639 |
| 2020-11-01 | $499,900 (5.2%) | $782,155 (12.1%) | 1.46 | 9,128 |
| 2020-12-01 | $496,245 (5.6%) | $795,725 (12.5%) | 1.48 | 7,595 |
| 2021-01-01 | $485,000 (3.9%) | $815,384 (13.9%) | 1.45 | 6,439 |
| 2021-02-01 | $489,450 (1.8%) | $818,161 (10.6%) | 1.42 | 5,879 |
| 2021-03-01 | $492,500 (-1.9%) | $795,499 (4.3%) | 1.40 | 6,509 |
| 2021-04-01 | $503,750 (0.8%) | $793,820 (7.7%) | 1.36 | 7,116 |
| 2021-05-01 | $514,950 (1.2%) | $787,426 (4.0%) | 1.37 | 7,916 |
| 2021-06-01 | $524,923 (-0.4%) | $777,748 (-0.6%) | 1.38 | 9,074 |
| 2021-07-01 | $510,000 (-3.3%) | $749,455 (-5.5%) | 1.35 | 10,153 |
| 2021-08-01 | $502,495 (-4.3%) | $733,715 (-7.7%) | 1.34 | 10,313 |
| 2021-09-01 | $504,950 (-2.3%) | $733,951 (-7.0%) | 1.35 | 10,806 |
| 2021-10-01 | $505,000 (1.0%) | $736,108 (-4.2%) | 1.35 | 10,444 |
| 2021-11-01 | $501,245 (0.3%) | $744,897 (-4.8%) | 1.34 | 8,638 |
| 2021-12-01 | $499,950 (0.8%) | $762,877 (-4.1%) | 1.35 | 6,568 |
| 2022-01-01 | $500,000 (3.1%) | $802,527 (-1.6%) | 1.35 | 5,138 |
| 2022-02-01 | $527,500 (7.8%) | $826,308 (1.0%) | 1.37 | 4,962 |
| 2022-03-01 | $544,900 (10.6%) | $827,874 (4.1%) | 1.36 | 5,427 |
| 2022-04-01 | $565,000 (12.2%) | $821,391 (3.5%) | 1.35 | 6,158 |
| 2022-05-01 | $585,000 (13.6%) | $833,802 (5.9%) | 1.34 | 7,904 |
| 2022-06-01 | $590,525 (12.5%) | $819,878 (5.4%) | 1.32 | 9,266 |
| 2022-07-01 | $580,000 (13.7%) | $801,378 (6.9%) | 1.31 | 10,484 |
| 2022-08-01 | $570,000 (13.4%) | $785,044 (7.0%) | 1.32 | 10,390 |
| 2022-09-01 | $569,950 (12.9%) | $785,014 (7.0%) | 1.33 | 10,492 |
| 2022-10-01 | $574,000 (13.7%) | $794,486 (7.9%) | 1.35 | 10,790 |
| 2022-11-01 | $565,680 (12.9%) | $800,050 (7.4%) | 1.36 | 10,320 |
| 2022-12-01 | $559,900 (12.0%) | $813,943 (6.7%) | 1.38 | 8,230 |
| 2023-01-01 | $568,498 (13.7%) | $842,443 (5.0%) | 1.41 | 6,808 |
| 2023-02-01 | $584,681 (10.8%) | $880,065 (6.5%) | 1.41 | 6,119 |
| 2023-03-01 | $599,450 (10.0%) | $907,750 (9.7%) | 1.41 | 6,199 |
| 2023-04-01 | $620,000 (9.7%) | $936,647 (14.0%) | 1.44 | 6,481 |
| 2023-05-01 | $639,423 (9.3%) | $960,023 (15.1%) | 1.45 | 6,675 |
| 2023-06-01 | $644,250 (9.1%) | $960,218 (17.1%) | 1.45 | 6,835 |
| 2023-07-01 | $635,000 (9.5%) | $935,736 (16.8%) | 1.44 | 7,182 |
| 2023-08-01 | $615,000 (7.9%) | $912,225 (16.2%) | 1.41 | 7,166 |
| 2023-09-01 | $615,000 (7.9%) | $914,848 (16.5%) | 1.43 | 7,960 |
| 2023-10-01 | $599,995 (4.5%) | $913,239 (15.0%) | 1.41 | 8,407 |
| 2023-11-01 | $598,875 (5.9%) | $915,255 (14.4%) | 1.43 | 8,253 |
| 2023-12-01 | $585,000 (4.5%) | $923,869 (13.5%) | 1.43 | 6,987 |
| 2024-01-01 | $589,860 (3.8%) | $950,586 (12.8%) | 1.44 | 5,902 |
| 2024-02-01 | $599,000 (2.5%) | $958,457 (8.9%) | 1.44 | 5,907 |
| 2024-03-01 | $604,300 (0.8%) | $972,046 (7.1%) | 1.42 | 6,335 |
Washington's median listing price comes in at 142% of the national average.
Washington's average listing price for 2024-03-01 was $972,046, a difference of $64,296 (7.1%) versus the prior year and $13,589 versus the prior month.
For the 2024-03-01 period, Washington had 6,335 MLS listings, a difference of 428 listings (7%) versus the prior month and 136 listings (2%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Washington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 67 days | 2,054 sqft |
| 2018-02-01 | 49 days | 2,090 sqft |
| 2018-03-01 | 33 days | 2,116 sqft |
| 2018-04-01 | 31 days | 2,129 sqft |
| 2018-05-01 | 31 days | 2,140 sqft |
| 2018-06-01 | 37 days | 2,256 sqft |
| 2018-07-01 | 43 days | 2,212 sqft |
| 2018-08-01 | 44 days | 2,172 sqft |
| 2018-09-01 | 45 days | 2,137 sqft |
| 2018-10-01 | 44 days | 2,111 sqft |
| 2018-11-01 | 49 days | 2,114 sqft |
| 2018-12-01 | 59 days | 2,133 sqft |
| 2019-01-01 | 67 days | 2,155 sqft |
| 2019-02-01 | 50 days | 2,195 sqft |
| 2019-03-01 | 38 days | 2,261 sqft |
| 2019-04-01 | 30 days | 2,314 sqft |
| 2019-05-01 | 31 days | 2,329 sqft |
| 2019-06-01 | 37 days | 2,340 sqft |
| 2019-07-01 | 42 days | 2,307 sqft |
| 2019-08-01 | 42 days | 2,290 sqft |
| 2019-09-01 | 40 days | 2,268 sqft |
| 2019-10-01 | 41 days | 2,248 sqft |
| 2019-11-01 | 49 days | 2,220 sqft |
| 2019-12-01 | 62 days | 2,200 sqft |
| 2020-01-01 | 63 days | 2,180 sqft |
| 2020-02-01 | 36 days | 2,210 sqft |
| 2020-03-01 | 27 days | 2,248 sqft |
| 2020-04-01 | 34 days | 2,214 sqft |
| 2020-05-01 | 43 days | 2,221 sqft |
| 2020-06-01 | 35 days | 2,207 sqft |
| 2020-07-01 | 30 days | 2,130 sqft |
| 2020-08-01 | 29 days | 2,038 sqft |
| 2020-09-01 | 25 days | 1,932 sqft |
| 2020-10-01 | 34 days | 1,848 sqft |
| 2020-11-01 | 39 days | 1,788 sqft |
| 2020-12-01 | 46 days | 1,744 sqft |
| 2021-01-01 | 47 days | 1,673 sqft |
| 2021-02-01 | 37 days | 1,606 sqft |
| 2021-03-01 | 30 days | 1,673 sqft |
| 2021-04-01 | 29 days | 1,741 sqft |
| 2021-05-01 | 28 days | 1,808 sqft |
| 2021-06-01 | 28 days | 1,820 sqft |
| 2021-07-01 | 30 days | 1,816 sqft |
| 2021-08-01 | 32 days | 1,817 sqft |
| 2021-09-01 | 33 days | 1,786 sqft |
| 2021-10-01 | 35 days | 1,754 sqft |
| 2021-11-01 | 40 days | 1,690 sqft |
| 2021-12-01 | 47 days | 1,666 sqft |
| 2022-01-01 | 47 days | 1,620 sqft |
| 2022-02-01 | 32 days | 1,678 sqft |
| 2022-03-01 | 26 days | 1,750 sqft |
| 2022-04-01 | 26 days | 1,846 sqft |
| 2022-05-01 | 25 days | 1,929 sqft |
| 2022-06-01 | 27 days | 1,964 sqft |
| 2022-07-01 | 31 days | 1,988 sqft |
| 2022-08-01 | 36 days | 1,968 sqft |
| 2022-09-01 | 39 days | 1,935 sqft |
| 2022-10-01 | 37 days | 1,956 sqft |
| 2022-11-01 | 43 days | 1,943 sqft |
| 2022-12-01 | 54 days | 1,913 sqft |
| 2023-01-01 | 59 days | 1,905 sqft |
| 2023-02-01 | 40 days | 1,921 sqft |
| 2023-03-01 | 34 days | 1,960 sqft |
| 2023-04-01 | 32 days | 2,028 sqft |
| 2023-05-01 | 30 days | 2,069 sqft |
| 2023-06-01 | 32 days | 2,080 sqft |
| 2023-07-01 | 34 days | 2,071 sqft |
| 2023-08-01 | 35 days | 2,040 sqft |
| 2023-09-01 | 35 days | 2,022 sqft |
| 2023-10-01 | 35 days | 2,000 sqft |
| 2023-11-01 | 39 days | 1,990 sqft |
| 2023-12-01 | 50 days | 1,955 sqft |
| 2024-01-01 | 53 days | 1,921 sqft |
| 2024-02-01 | 36 days | 1,907 sqft |
| 2024-03-01 | 31 days | 1,906 sqft |
Washington's median square footage for active listings during the 2024-03-01 period was 1,906 sqft. One year prior, the average listing was 1,960 sqft.