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 341 lenders originated 49,928 VA loans during 2021. The total origination value was $24,135,220,000, with an average VA loan value of $483,400.
Washington VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Washington
averaged
0.01%
for the week of 2022-11-25, compared to the national average (all VA variants) of
0% for the same period.
Washington's average VA mortgage closing costs are $7,711.
The average rate for the prior week (2022-11-18) was
6.6% and
one month ago for the week of 2022-10-21, the
average rate was 6.75%.
The average rate one year ago was 3.13%.
For refis of the same type during the week of 2022-11-25, the average rate
was 0.11%.
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 FREEDOM MORTGAGE CORPORATION, with
3,397 VA loans originated. Their average total fees are
$4,423, which is $1,865
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Washington VA lenders (with over 10 loans originated) are
Wyndham Capital Mortgage, Inc. ($2,966), HOMESTEAD FUNDING CORP. ($2,967), Lakeview Community Capital, LLC ($3,147), LAKEVIEW LOAN SERVICING, LLC ($3,149) and ZILLOW HOME LOANS, LLC ($3,577).
The lowest rate Washington VA lenders (with over 10 loans originated) are
UNITED SECURITY FINANCIAL CORP (2.03%), First Mortgage Solutions, LLC (2.22%), ACCELERATE MORTGAGE, LLC (2.23%), The Central Trust Bank (2.25%) and VILLAGE CAPITAL MORTGAGE (2.26%).
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 (1.9%) | $634,920 (1.2%) | 1.59 | 12,368 |
| 2018-02-01 | $442,000 (2.3%) | $648,122 (0.7%) | 1.60 | 12,228 |
| 2018-03-01 | $464,917 (3.8%) | $663,591 (0.8%) | 1.63 | 13,634 |
| 2018-04-01 | $475,000 (3.3%) | $674,649 (1.1%) | 1.61 | 15,543 |
| 2018-05-01 | $474,950 (2.1%) | $675,493 (1.6%) | 1.59 | 16,853 |
| 2018-06-01 | $475,000 (1.6%) | $672,801 (1.9%) | 1.58 | 17,469 |
| 2018-07-01 | $462,500 (0.6%) | $655,000 (0.8%) | 1.54 | 17,908 |
| 2018-08-01 | $449,950 (0.3%) | $636,164 (1.0%) | 1.51 | 17,949 |
| 2018-09-01 | $449,900 (0.0%) | $632,233 (-0.5%) | 1.51 | 18,592 |
| 2018-10-01 | $449,900 (0.2%) | $633,376 (-0.6%) | 1.52 | 18,698 |
| 2018-11-01 | $444,950 (1.2%) | $632,494 (-0.1%) | 1.51 | 17,516 |
| 2018-12-01 | $434,900 (1.2%) | $631,579 (0.2%) | 1.50 | 14,350 |
| 2019-01-01 | $432,450 (0.6%) | $637,200 (0.4%) | 1.49 | 12,160 |
| 2019-02-01 | $446,750 (1.1%) | $653,954 (0.9%) | 1.51 | 11,843 |
| 2019-03-01 | $462,857 (-0.4%) | $670,290 (1.0%) | 1.51 | 12,892 |
| 2019-04-01 | $477,983 (0.6%) | $682,916 (1.2%) | 1.52 | 14,140 |
| 2019-05-01 | $487,000 (2.5%) | $688,881 (2.0%) | 1.52 | 15,321 |
| 2019-06-01 | $485,000 (2.1%) | $685,678 (1.9%) | 1.52 | 15,961 |
| 2019-07-01 | $475,000 (2.7%) | $671,407 (2.5%) | 1.49 | 15,807 |
| 2019-08-01 | $474,999 (5.6%) | $675,579 (6.2%) | 1.50 | 15,576 |
| 2019-09-01 | $475,000 (5.6%) | $684,166 (8.2%) | 1.52 | 15,435 |
| 2019-10-01 | $475,000 (5.6%) | $690,446 (9.0%) | 1.53 | 15,275 |
| 2019-11-01 | $474,900 (6.7%) | $697,646 (10.3%) | 1.56 | 13,877 |
| 2019-12-01 | $469,900 (8.1%) | $707,076 (12.0%) | 1.57 | 11,008 |
| 2020-01-01 | $465,807 (7.7%) | $715,143 (12.2%) | 1.56 | 9,541 |
| 2020-02-01 | $480,000 (7.4%) | $739,100 (13.0%) | 1.57 | 9,286 |
| 2020-03-01 | $500,948 (8.2%) | $762,251 (13.7%) | 1.57 | 9,932 |
| 2020-04-01 | $499,850 (4.6%) | $736,775 (7.9%) | 1.56 | 10,572 |
| 2020-05-01 | $509,000 (4.5%) | $756,908 (9.9%) | 1.55 | 10,615 |
| 2020-06-01 | $527,250 (8.7%) | $781,951 (14.0%) | 1.55 | 9,968 |
| 2020-07-01 | $527,450 (11.0%) | $791,953 (18.0%) | 1.53 | 9,154 |
| 2020-08-01 | $525,000 (10.5%) | $794,188 (17.6%) | 1.50 | 8,831 |
| 2020-09-01 | $516,250 (8.7%) | $788,152 (15.2%) | 1.48 | 9,258 |
| 2020-10-01 | $499,965 (5.3%) | $768,256 (11.3%) | 1.43 | 9,663 |
| 2020-11-01 | $499,900 (5.3%) | $781,527 (12.0%) | 1.46 | 9,155 |
| 2020-12-01 | $495,474 (5.4%) | $793,902 (12.3%) | 1.47 | 7,622 |
| 2021-01-01 | $484,900 (4.1%) | $813,425 (13.7%) | 1.45 | 6,466 |
| 2021-02-01 | $489,350 (2.0%) | $816,449 (10.5%) | 1.42 | 5,898 |
| 2021-03-01 | $492,000 (-1.8%) | $794,200 (4.2%) | 1.40 | 6,529 |
| 2021-04-01 | $503,623 (0.8%) | $792,961 (7.6%) | 1.36 | 7,132 |
| 2021-05-01 | $514,900 (1.2%) | $786,399 (3.9%) | 1.36 | 7,935 |
| 2021-06-01 | $524,900 (-0.5%) | $776,642 (-0.7%) | 1.38 | 9,087 |
| 2021-07-01 | $510,000 (-3.3%) | $748,665 (-5.5%) | 1.34 | 10,155 |
| 2021-08-01 | $502,495 (-4.3%) | $733,341 (-7.7%) | 1.34 | 10,313 |
| 2021-09-01 | $504,580 (-2.3%) | $733,419 (-6.9%) | 1.35 | 10,817 |
| 2021-10-01 | $505,000 (1.0%) | $735,530 (-4.3%) | 1.35 | 10,458 |
| 2021-11-01 | $499,995 (0.0%) | $744,240 (-4.8%) | 1.34 | 8,650 |
| 2021-12-01 | $499,950 (0.9%) | $762,092 (-4.0%) | 1.36 | 6,583 |
| 2022-01-01 | $499,999 (3.1%) | $801,391 (-1.5%) | 1.35 | 5,160 |
| 2022-02-01 | $527,495 (7.8%) | $824,961 (1.0%) | 1.37 | 4,982 |
| 2022-03-01 | $544,900 (10.8%) | $826,852 (4.1%) | 1.36 | 5,449 |
| 2022-04-01 | $565,000 (12.2%) | $820,348 (3.5%) | 1.35 | 6,178 |
| 2022-05-01 | $585,000 (13.6%) | $833,294 (6.0%) | 1.34 | 7,926 |
| 2022-06-01 | $589,950 (12.4%) | $819,447 (5.5%) | 1.31 | 9,288 |
| 2022-07-01 | $580,000 (13.7%) | $800,886 (7.0%) | 1.31 | 10,505 |
| 2022-08-01 | $569,985 (13.4%) | $784,777 (7.0%) | 1.32 | 10,412 |
| 2022-09-01 | $569,950 (13.0%) | $784,888 (7.0%) | 1.33 | 10,511 |
| 2022-10-01 | $573,990 (13.7%) | $794,272 (8.0%) | 1.35 | 10,810 |
Washington's median listing price comes in at 135% of the national average.
Washington's average listing price for 2022-10-01 was $794,272, a difference of $58,742 (8.0%) versus the prior year and $9,384 versus the prior month.
For the 2022-10-01 period, Washington had 10,810 MLS listings, a difference of 299 listings (3%) versus the prior month and 352 listings (3%) 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 | 2,042 sqft |
| 2018-02-01 | 53 days | 2,084 sqft |
| 2018-03-01 | 36 days | 2,111 sqft |
| 2018-04-01 | 33 days | 2,121 sqft |
| 2018-05-01 | 33 days | 2,133 sqft |
| 2018-06-01 | 39 days | 2,252 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 | 2,134 sqft |
| 2019-01-01 | 71 days | 2,155 sqft |
| 2019-02-01 | 56 days | 2,195 sqft |
| 2019-03-01 | 40 days | 2,260 sqft |
| 2019-04-01 | 31 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 | 44 days | 2,289 sqft |
| 2019-09-01 | 43 days | 2,267 sqft |
| 2019-10-01 | 44 days | 2,248 sqft |
| 2019-11-01 | 51 days | 2,220 sqft |
| 2019-12-01 | 65 days | 2,200 sqft |
| 2020-01-01 | 67 days | 2,179 sqft |
| 2020-02-01 | 39 days | 2,207 sqft |
| 2020-03-01 | 30 days | 2,243 sqft |
| 2020-04-01 | 36 days | 2,212 sqft |
| 2020-05-01 | 45 days | 2,220 sqft |
| 2020-06-01 | 38 days | 2,204 sqft |
| 2020-07-01 | 33 days | 2,127 sqft |
| 2020-08-01 | 30 days | 2,036 sqft |
| 2020-09-01 | 28 days | 1,931 sqft |
| 2020-10-01 | 36 days | 1,848 sqft |
| 2020-11-01 | 41 days | 1,786 sqft |
| 2020-12-01 | 48 days | 1,743 sqft |
| 2021-01-01 | 50 days | 1,670 sqft |
| 2021-02-01 | 39 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 | 1,807 sqft |
| 2021-06-01 | 29 days | 1,820 sqft |
| 2021-07-01 | 30 days | 1,816 sqft |
| 2021-08-01 | 33 days | 1,818 sqft |
| 2021-09-01 | 34 days | 1,788 sqft |
| 2021-10-01 | 35 days | 1,755 sqft |
| 2021-11-01 | 41 days | 1,691 sqft |
| 2021-12-01 | 49 days | 1,666 sqft |
| 2022-01-01 | 49 days | 1,621 sqft |
| 2022-02-01 | 33 days | 1,678 sqft |
| 2022-03-01 | 28 days | 1,750 sqft |
| 2022-04-01 | 27 days | 1,846 sqft |
| 2022-05-01 | 26 days | 1,928 sqft |
| 2022-06-01 | 28 days | 1,964 sqft |
| 2022-07-01 | 31 days | 1,988 sqft |
| 2022-08-01 | 37 days | 1,968 sqft |
| 2022-09-01 | 40 days | 1,934 sqft |
| 2022-10-01 | 37 days | 1,956 sqft |
Washington's median square footage for active listings during the 2022-10-01 period was 1,956 sqft. One year prior, the average listing was 1,755 sqft.
