Washington VA Loan Rates, Closing Costs & Stats

Washington, IN

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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 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 13 lenders originated 25 VA loans during 2023. The total origination value was $6,255,000, with an average VA loan value of $250,200.

    Washington VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Washington averaged 7.41% 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 $4,730.

    The average rate for the prior week (2024-04-12) was 7.24% and one month ago for the week of 2024-03-15, the average rate was 6.81%.

    The average rate one year ago was 6.7%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    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.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 7 7.00% $6,499
    UNITED WHOLESALE MORTGAGE, LLC 3 6.54% $8,579
    USAA Federal Savings Bank 3 7.29% $4,925
    NAVY FEDERAL CREDIT UNION 2 6.25% $1,098
    German American Bank 1 6.13% $8,982
    1ST SIGNATURE LENDING, LLC 1 7.63% $14,744
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $6,523
    PLAZA HOME MORTGAGE, INC. 1 6.25% $3,839
    QUICKEN LOANS, LLC 1 5.99% $5,378
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.00% $3,332
    Barrington Bank & Trust Company, N.A. 1 6.50% $10,984
    Equity Prime Mortgage LLC 1 7.75% $8,491
    FREEDOM MORTGAGE CORPORATION 1 7.25% $10,995

    The top Washington VA lender as defined by loan originations is Mortgage Research Center, LLC, with 7 VA loans originated. Their average total fees are $6,499, which is $2,081 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Washington VA lenders (with over 10 loans originated) are .

    The lowest rate Washington VA lenders (with over 10 loans originated) are .

    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 $139,450 (32.3%) $172,068 (32.2%) 0.00 72
    2018-02-01 $139,450 (36.5%) $170,614 (31.6%) 0.00 75
    2018-03-01 $144,900 (36.9%) $177,701 (30.5%) 0.00 74
    2018-04-01 $148,500 (41.6%) $172,929 (29.5%) 0.00 80
    2018-05-01 $149,900 (36.3%) $180,759 (37.5%) 0.00 80
    2018-06-01 $144,700 (25.4%) $174,201 (35.5%) 0.00 81
    2018-07-01 $142,650 (14.2%) $177,567 (24.4%) 0.00 77
    2018-08-01 $147,500 (21.1%) $185,360 (31.2%) 0.00 77
    2018-09-01 $150,800 (20.7%) $187,684 (29.0%) 0.00 78
    2018-10-01 $157,000 (22.2%) $179,773 (11.5%) 0.00 81
    2018-11-01 $161,150 (19.4%) $184,612 (10.1%) 0.00 75
    2018-12-01 $154,900 (11.4%) $193,839 (17.0%) 0.00 70
    2019-01-01 $149,225 (7.0%) $188,646 (9.6%) 0.00 69
    2019-02-01 $146,475 (5.0%) $186,899 (9.5%) 0.00 59
    2019-03-01 $155,257 (7.2%) $198,935 (12.0%) 0.00 53
    2019-04-01 $163,782 (10.3%) $205,876 (19.1%) 0.00 51
    2019-05-01 $142,475 (-5.0%) $183,565 (1.6%) 0.00 55
    2019-06-01 $145,000 (0.2%) $171,557 (-1.5%) 0.00 62
    2019-07-01 $148,900 (4.4%) $163,665 (-7.8%) 0.00 61
    2019-08-01 $144,223 (-2.2%) $164,431 (-11.3%) 0.00 60
    2019-09-01 $141,707 (-6.0%) $168,154 (-10.4%) 0.00 60
    2019-10-01 $139,625 (-11.1%) $174,562 (-2.9%) 0.00 62
    2019-11-01 $122,200 (-24.2%) $179,370 (-2.8%) 0.00 60
    2019-12-01 $129,900 (-16.1%) $181,404 (-6.4%) 0.00 56
    2020-01-01 $124,925 (-16.3%) $180,582 (-4.3%) 0.00 56
    2020-02-01 $129,450 (-11.6%) $185,626 (-0.7%) 0.00 52
    2020-03-01 $165,750 (6.8%) $224,736 (13.0%) 0.00 51
    2020-04-01 $179,900 (9.8%) $230,045 (11.7%) 0.00 49
    2020-05-01 $168,000 (17.9%) $223,731 (21.9%) 0.00 45
    2020-06-01 $157,475 (8.6%) $235,176 (37.1%) 0.00 39
    2020-07-01 $161,300 (8.3%) $256,598 (56.8%) 0.00 36
    2020-08-01 $162,500 (12.7%) $237,964 (44.7%) 0.00 43
    2020-09-01 $163,400 (15.3%) $220,762 (31.3%) 0.00 43
    2020-10-01 $179,900 (28.9%) $213,507 (22.3%) 0.00 51
    2020-11-01 $189,500 (55.1%) $216,047 (20.5%) 0.00 48
    2020-12-01 $168,650 (29.8%) $204,968 (13.0%) 0.00 42
    2021-01-01 $179,900 (44.0%) $206,685 (14.5%) 0.00 36
    2021-02-01 $168,725 (30.3%) $212,241 (14.3%) 0.00 37
    2021-03-01 $148,250 (-10.6%) $197,397 (-12.2%) 0.00 33
    2021-04-01 $143,575 (-20.2%) $200,452 (-12.9%) 0.00 23
    2021-05-01 $145,900 (-13.2%) $212,165 (-5.2%) 0.00 18
    2021-06-01 $179,900 (14.2%) $224,654 (-4.5%) 0.00 26
    2021-07-01 $183,700 (13.9%) $230,573 (-10.1%) 0.00 30
    2021-08-01 $169,900 (4.6%) $221,869 (-6.8%) 0.00 42
    2021-09-01 $163,700 (0.2%) $247,319 (12.0%) 0.00 41
    2021-10-01 $191,100 (6.2%) $260,153 (21.9%) 0.00 36
    2021-11-01 $198,825 (4.9%) $251,834 (16.6%) 0.00 41
    2021-12-01 $199,000 (18.0%) $249,145 (21.6%) 0.00 45
    2022-01-01 $174,900 (-2.8%) $240,815 (16.5%) 0.00 40
    2022-02-01 $167,450 (-0.8%) $208,926 (-1.6%) 0.00 33
    2022-03-01 $166,200 (12.1%) $222,321 (12.6%) 0.00 31
    2022-04-01 $184,900 (28.8%) $221,789 (10.6%) 0.00 34
    2022-05-01 $191,825 (31.5%) $237,978 (12.2%) 0.00 34
    2022-06-01 $169,900 (-5.6%) $213,482 (-5.0%) 0.00 38
    2022-07-01 $169,900 (-7.5%) $217,643 (-5.6%) 0.00 37
    2022-08-01 $181,000 (6.5%) $233,122 (5.1%) 0.00 37
    2022-09-01 $208,725 (27.5%) $247,746 (0.2%) 0.00 29
    2022-10-01 $239,900 (25.5%) $260,131 (0.0%) 0.00 34
    2022-11-01 $239,900 (20.7%) $247,653 (-1.7%) 0.00 36
    2022-12-01 $227,900 (14.5%) $246,109 (-1.2%) 0.00 35
    2023-01-01 $238,650 (36.5%) $269,823 (12.1%) 0.00 33
    2023-02-01 $239,900 (43.3%) $271,056 (29.7%) 0.00 31
    2023-03-01 $233,550 (40.5%) $266,734 (20.0%) 0.00 31
    2023-04-01 $229,000 (23.9%) $270,412 (21.9%) 0.00 32
    2023-05-01 $229,000 (19.4%) $255,692 (7.4%) 0.00 35
    2023-06-01 $227,875 (34.1%) $258,444 (21.1%) 0.00 38
    2023-07-01 $231,950 (36.5%) $256,363 (17.8%) 0.00 41
    2023-08-01 $232,400 (28.4%) $250,647 (7.5%) 0.00 39
    2023-09-01 $234,900 (12.5%) $256,796 (3.7%) 0.00 38
    2023-10-01 $222,650 (-7.2%) $237,903 (-8.6%) 0.00 44
    2023-11-01 $229,900 (-4.2%) $244,445 (-1.3%) 0.00 43
    2023-12-01 $227,450 (-0.2%) $238,782 (-3.0%) 0.00 45
    2024-01-01 $236,050 (-1.1%) $235,407 (-12.8%) 0.00 45
    2024-02-01 $242,400 (1.0%) $243,722 (-10.1%) 0.00 47
    2024-03-01 $244,900 (4.9%) $257,457 (-3.5%) 0.00 47
    Washington's median listing price for 2024-03-01 was $244,900, a difference of $11,350 (4.9%) versus the prior year and $2,500 versus the prior month.

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

    Washington's average listing price for 2024-03-01 was $257,457, a difference of $-9,277 (-3.5%) versus the prior year and $13,735 versus the prior month.

    For the 2024-03-01 period, Washington had 47 MLS listings, a difference of 0 listings (0%) versus the prior month and 16 listings (52%) 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 0 days 1,659 sqft
    2018-02-01 0 days 1,652 sqft
    2018-03-01 0 days 1,726 sqft
    2018-04-01 0 days 1,799 sqft
    2018-05-01 0 days 1,833 sqft
    2018-06-01 0 days 1,780 sqft
    2018-07-01 0 days 1,790 sqft
    2018-08-01 0 days 1,798 sqft
    2018-09-01 0 days 1,805 sqft
    2018-10-01 0 days 1,800 sqft
    2018-11-01 0 days 1,800 sqft
    2018-12-01 0 days 1,886 sqft
    2019-01-01 0 days 1,874 sqft
    2019-02-01 0 days 1,821 sqft
    2019-03-01 0 days 1,871 sqft
    2019-04-01 0 days 1,896 sqft
    2019-05-01 0 days 1,800 sqft
    2019-06-01 0 days 1,665 sqft
    2019-07-01 0 days 1,708 sqft
    2019-08-01 0 days 1,717 sqft
    2019-09-01 0 days 1,718 sqft
    2019-10-01 0 days 1,718 sqft
    2019-11-01 0 days 1,665 sqft
    2019-12-01 0 days 1,683 sqft
    2020-01-01 0 days 1,740 sqft
    2020-02-01 0 days 1,779 sqft
    2020-03-01 0 days 1,916 sqft
    2020-04-01 0 days 1,943 sqft
    2020-05-01 0 days 1,884 sqft
    2020-06-01 0 days 1,773 sqft
    2020-07-01 0 days 1,836 sqft
    2020-08-01 0 days 1,857 sqft
    2020-09-01 0 days 1,769 sqft
    2020-10-01 0 days 1,743 sqft
    2020-11-01 0 days 1,764 sqft
    2020-12-01 0 days 1,681 sqft
    2021-01-01 0 days 1,711 sqft
    2021-02-01 0 days 1,656 sqft
    2021-03-01 0 days 1,760 sqft
    2021-04-01 0 days 1,750 sqft
    2021-05-01 0 days 1,706 sqft
    2021-06-01 0 days 1,753 sqft
    2021-07-01 0 days 1,840 sqft
    2021-08-01 0 days 1,663 sqft
    2021-09-01 0 days 1,688 sqft
    2021-10-01 0 days 1,864 sqft
    2021-11-01 0 days 1,741 sqft
    2021-12-01 0 days 1,711 sqft
    2022-01-01 0 days 1,665 sqft
    2022-02-01 0 days 1,715 sqft
    2022-03-01 0 days 1,676 sqft
    2022-04-01 0 days 1,727 sqft
    2022-05-01 0 days 1,727 sqft
    2022-06-01 0 days 1,332 sqft
    2022-07-01 0 days 1,313 sqft
    2022-08-01 0 days 1,560 sqft
    2022-09-01 0 days 1,715 sqft
    2022-10-01 0 days 1,903 sqft
    2022-11-01 0 days 1,909 sqft
    2022-12-01 0 days 1,844 sqft
    2023-01-01 0 days 1,935 sqft
    2023-02-01 0 days 1,846 sqft
    2023-03-01 0 days 1,855 sqft
    2023-04-01 0 days 1,767 sqft
    2023-05-01 0 days 1,654 sqft
    2023-06-01 0 days 1,704 sqft
    2023-07-01 0 days 1,708 sqft
    2023-08-01 0 days 1,652 sqft
    2023-09-01 0 days 1,569 sqft
    2023-10-01 0 days 1,458 sqft
    2023-11-01 0 days 1,473 sqft
    2023-12-01 0 days 1,470 sqft
    2024-01-01 0 days 1,548 sqft
    2024-02-01 0 days 1,595 sqft
    2024-03-01 0 days 1,650 sqft
    Washington's median listing age (time on market) for 2024-03-01 was 0 days.

    Washington's median square footage for active listings during the 2024-03-01 period was 1,650 sqft. One year prior, the average listing was 1,855 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.