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 284 lenders originated 17,407 VA loans during 2022. The total origination value was $9,530,505,000, with an average VA loan value of $547,510.
Washington VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Washington
averaged
5.98%
for the week of 2023-05-26, compared to the national average (all VA variants) of
6.408% for the same period.
Washington's average VA mortgage closing costs are $8,361.
The average rate for the prior week (2023-05-19) was
5.9% and
one month ago for the week of 2023-04-21, the
average rate was 5.82%.
The average rate one year ago was 4.79%.
For refis of the same type during the week of 2023-05-26, the average rate
was 4.58%.
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
1,153 VA loans originated. Their average total fees are
$11,648, which is $927
higher than the next largest lender,
NAVY FEDERAL CREDIT UNION.
The lowest fee Washington VA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($6,203), Lakeview Community Capital, LLC ($6,463), CAPITAL CENTER, L.L.C. ($6,947), Sierra Pacific Mortgage Company, Inc. ($7,118) and PENTAGON FEDERAL CREDIT UNION ($7,955).
The lowest rate Washington VA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (3.18%), First Mortgage Solutions, LLC (3.19%), NETWORK CAPITAL FUNDING CORPORATION (3.24%), LAKEVIEW LOAN SERVICING, LLC (3.35%) and VILLAGE CAPITAL MORTGAGE (3.37%).
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 | $430,000 (1.9%) | $635,018 (1.2%) | 1.59 | 12,365 |
| 2018-02-01 | $442,000 (2.3%) | $648,208 (0.7%) | 1.61 | 12,225 |
| 2018-03-01 | $464,962 (3.8%) | $663,656 (0.8%) | 1.63 | 13,632 |
| 2018-04-01 | $475,000 (3.3%) | $674,708 (1.1%) | 1.61 | 15,541 |
| 2018-05-01 | $474,950 (2.1%) | $675,536 (1.6%) | 1.59 | 16,855 |
| 2018-06-01 | $475,000 (1.6%) | $672,832 (1.9%) | 1.58 | 17,471 |
| 2018-07-01 | $463,000 (0.7%) | $655,034 (0.9%) | 1.55 | 17,909 |
| 2018-08-01 | $449,950 (0.3%) | $636,202 (1.0%) | 1.51 | 17,949 |
| 2018-09-01 | $449,900 (0.0%) | $632,295 (-0.5%) | 1.51 | 18,591 |
| 2018-10-01 | $449,900 (0.2%) | $633,424 (-0.6%) | 1.52 | 18,698 |
| 2018-11-01 | $444,950 (1.2%) | $632,549 (-0.1%) | 1.51 | 17,512 |
| 2018-12-01 | $434,900 (1.2%) | $631,653 (0.2%) | 1.50 | 14,345 |
| 2019-01-01 | $432,450 (0.6%) | $637,290 (0.4%) | 1.49 | 12,155 |
| 2019-02-01 | $446,825 (1.1%) | $654,050 (0.9%) | 1.51 | 11,841 |
| 2019-03-01 | $459,000 (-1.3%) | $660,813 (-0.4%) | 1.53 | 12,956 |
| 2019-04-01 | $478,571 (0.8%) | $683,039 (1.2%) | 1.52 | 14,068 |
| 2019-05-01 | $487,000 (2.5%) | $689,051 (2.0%) | 1.52 | 15,308 |
| 2019-06-01 | $485,000 (2.1%) | $685,736 (1.9%) | 1.52 | 15,948 |
| 2019-07-01 | $475,000 (2.6%) | $671,474 (2.5%) | 1.49 | 15,790 |
| 2019-08-01 | $475,900 (5.8%) | $679,653 (6.8%) | 1.49 | 15,598 |
| 2019-09-01 | $487,450 (8.4%) | $714,598 (13.0%) | 1.54 | 13,298 |
| 2019-10-01 | $476,450 (5.9%) | $691,518 (9.2%) | 1.54 | 15,261 |
| 2019-11-01 | $474,990 (6.8%) | $697,761 (10.3%) | 1.56 | 13,862 |
| 2019-12-01 | $469,900 (8.1%) | $707,230 (12.0%) | 1.57 | 10,993 |
| 2020-01-01 | $466,497 (7.9%) | $715,343 (12.3%) | 1.56 | 9,526 |
| 2020-02-01 | $480,762 (7.6%) | $739,298 (13.0%) | 1.57 | 9,272 |
| 2020-03-01 | $501,495 (9.3%) | $762,464 (15.4%) | 1.57 | 9,919 |
| 2020-04-01 | $499,900 (4.5%) | $736,987 (7.9%) | 1.57 | 10,557 |
| 2020-05-01 | $509,000 (4.5%) | $757,173 (9.9%) | 1.55 | 10,599 |
| 2020-06-01 | $527,450 (8.8%) | $782,292 (14.1%) | 1.55 | 9,952 |
| 2020-07-01 | $527,450 (11.0%) | $792,479 (18.0%) | 1.53 | 9,132 |
| 2020-08-01 | $525,000 (10.3%) | $794,824 (17.0%) | 1.50 | 8,810 |
| 2020-09-01 | $516,750 (6.0%) | $788,637 (10.4%) | 1.48 | 9,236 |
| 2020-10-01 | $499,990 (4.9%) | $768,592 (11.2%) | 1.43 | 9,644 |
| 2020-11-01 | $499,900 (5.2%) | $781,985 (12.1%) | 1.46 | 9,133 |
| 2020-12-01 | $495,995 (5.6%) | $795,475 (12.5%) | 1.48 | 7,601 |
| 2021-01-01 | $485,000 (4.0%) | $815,076 (13.9%) | 1.45 | 6,446 |
| 2021-02-01 | $489,450 (1.8%) | $818,119 (10.7%) | 1.42 | 5,880 |
| 2021-03-01 | $492,500 (-1.8%) | $795,604 (4.4%) | 1.40 | 6,511 |
| 2021-04-01 | $503,863 (0.8%) | $794,140 (7.8%) | 1.36 | 7,116 |
| 2021-05-01 | $514,950 (1.2%) | $787,685 (4.0%) | 1.37 | 7,915 |
| 2021-06-01 | $524,900 (-0.5%) | $777,785 (-0.6%) | 1.38 | 9,074 |
| 2021-07-01 | $510,000 (-3.3%) | $749,483 (-5.4%) | 1.35 | 10,152 |
| 2021-08-01 | $502,500 (-4.3%) | $733,815 (-7.7%) | 1.34 | 10,312 |
| 2021-09-01 | $504,950 (-2.3%) | $733,994 (-6.9%) | 1.35 | 10,805 |
| 2021-10-01 | $505,000 (1.0%) | $736,563 (-4.2%) | 1.35 | 10,442 |
| 2021-11-01 | $501,122 (0.2%) | $745,430 (-4.7%) | 1.34 | 8,637 |
| 2021-12-01 | $499,950 (0.8%) | $763,623 (-4.0%) | 1.35 | 6,569 |
| 2022-01-01 | $500,000 (3.1%) | $803,275 (-1.5%) | 1.35 | 5,142 |
| 2022-02-01 | $527,500 (7.8%) | $827,054 (1.1%) | 1.37 | 4,964 |
| 2022-03-01 | $544,900 (10.6%) | $828,810 (4.2%) | 1.36 | 5,430 |
| 2022-04-01 | $565,000 (12.1%) | $821,759 (3.5%) | 1.35 | 6,160 |
| 2022-05-01 | $585,000 (13.6%) | $833,915 (5.9%) | 1.34 | 7,906 |
| 2022-06-01 | $590,400 (12.5%) | $820,025 (5.4%) | 1.31 | 9,271 |
| 2022-07-01 | $580,000 (13.7%) | $801,306 (6.9%) | 1.31 | 10,490 |
| 2022-08-01 | $569,998 (13.4%) | $785,204 (7.0%) | 1.32 | 10,395 |
| 2022-09-01 | $569,950 (12.9%) | $785,220 (7.0%) | 1.33 | 10,501 |
| 2022-10-01 | $574,000 (13.7%) | $794,600 (7.9%) | 1.35 | 10,799 |
| 2022-11-01 | $565,000 (12.8%) | $800,319 (7.4%) | 1.36 | 10,326 |
| 2022-12-01 | $559,900 (12.0%) | $814,004 (6.6%) | 1.38 | 8,234 |
| 2023-01-01 | $568,945 (13.8%) | $843,282 (5.0%) | 1.41 | 6,809 |
| 2023-02-01 | $584,665 (10.8%) | $880,416 (6.5%) | 1.41 | 6,119 |
| 2023-03-01 | $599,450 (10.0%) | $908,292 (9.6%) | 1.41 | 6,201 |
| 2023-04-01 | $624,000 (10.4%) | $937,432 (14.1%) | 1.45 | 6,477 |
Washington's median listing price comes in at 145% of the national average.
Washington's average listing price for 2023-04-01 was $937,432, a difference of $115,673 (14.1%) versus the prior year and $29,140 versus the prior month.
For the 2023-04-01 period, Washington had 6,477 MLS listings, a difference of 276 listings (4%) versus the prior month and 317 listings (5%) 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 | 71 days | 2,043 sqft |
| 2018-02-01 | 53 days | 2,083 sqft |
| 2018-03-01 | 36 days | 2,112 sqft |
| 2018-04-01 | 33 days | 2,121 sqft |
| 2018-05-01 | 33 days | 2,132 sqft |
| 2018-06-01 | 39 days | 2,253 sqft |
| 2018-07-01 | 44 days | 2,211 sqft |
| 2018-08-01 | 47 days | 2,171 sqft |
| 2018-09-01 | 48 days | 2,136 sqft |
| 2018-10-01 | 47 days | 2,110 sqft |
| 2018-11-01 | 52 days | 2,114 sqft |
| 2018-12-01 | 64 days | 2,132 sqft |
| 2019-01-01 | 71 days | 2,154 sqft |
| 2019-02-01 | 56 days | 2,195 sqft |
| 2019-03-01 | 36 days | 2,234 sqft |
| 2019-04-01 | 30 days | 2,312 sqft |
| 2019-05-01 | 32 days | 2,328 sqft |
| 2019-06-01 | 38 days | 2,340 sqft |
| 2019-07-01 | 44 days | 2,305 sqft |
| 2019-08-01 | 57 days | 2,353 sqft |
| 2019-09-01 | 60 days | 2,393 sqft |
| 2019-10-01 | 45 days | 2,248 sqft |
| 2019-11-01 | 51 days | 2,220 sqft |
| 2019-12-01 | 65 days | 2,200 sqft |
| 2020-01-01 | 66 days | 2,180 sqft |
| 2020-02-01 | 39 days | 2,208 sqft |
| 2020-03-01 | 30 days | 2,247 sqft |
| 2020-04-01 | 36 days | 2,214 sqft |
| 2020-05-01 | 45 days | 2,220 sqft |
| 2020-06-01 | 38 days | 2,206 sqft |
| 2020-07-01 | 33 days | 2,128 sqft |
| 2020-08-01 | 30 days | 2,035 sqft |
| 2020-09-01 | 28 days | 1,929 sqft |
| 2020-10-01 | 36 days | 1,845 sqft |
| 2020-11-01 | 41 days | 1,786 sqft |
| 2020-12-01 | 48 days | 1,742 sqft |
| 2021-01-01 | 50 days | 1,670 sqft |
| 2021-02-01 | 38 days | 1,606 sqft |
| 2021-03-01 | 31 days | 1,672 sqft |
| 2021-04-01 | 29 days | 1,739 sqft |
| 2021-05-01 | 29 days | 1,805 sqft |
| 2021-06-01 | 29 days | 1,819 sqft |
| 2021-07-01 | 30 days | 1,816 sqft |
| 2021-08-01 | 33 days | 1,817 sqft |
| 2021-09-01 | 34 days | 1,786 sqft |
| 2021-10-01 | 35 days | 1,754 sqft |
| 2021-11-01 | 41 days | 1,689 sqft |
| 2021-12-01 | 48 days | 1,666 sqft |
| 2022-01-01 | 49 days | 1,620 sqft |
| 2022-02-01 | 33 days | 1,677 sqft |
| 2022-03-01 | 28 days | 1,748 sqft |
| 2022-04-01 | 27 days | 1,844 sqft |
| 2022-05-01 | 26 days | 1,928 sqft |
| 2022-06-01 | 28 days | 1,963 sqft |
| 2022-07-01 | 31 days | 1,987 sqft |
| 2022-08-01 | 37 days | 1,968 sqft |
| 2022-09-01 | 40 days | 1,935 sqft |
| 2022-10-01 | 37 days | 1,956 sqft |
| 2022-11-01 | 44 days | 1,943 sqft |
| 2022-12-01 | 56 days | 1,912 sqft |
| 2023-01-01 | 62 days | 1,904 sqft |
| 2023-02-01 | 43 days | 1,921 sqft |
| 2023-03-01 | 36 days | 1,960 sqft |
| 2023-04-01 | 33 days | 2,029 sqft |
Washington's median square footage for active listings during the 2023-04-01 period was 2,029 sqft. One year prior, the average listing was 1,844 sqft.