Washington VA Loan Rates, Closing Costs & Stats

Washington, NC

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 18 lenders originated 56 VA loans during 2023. The total origination value was $14,470,000, with an average VA loan value of $258,393.

Washington VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Washington averaged 6.71% for the week of 2024-05-17, compared to the national average (all VA variants) of 6.502% for the same period.

Washington's average VA mortgage closing costs are $4,909.

The average rate for the prior week (2024-05-10) was 6.62% and one month ago for the week of 2024-04-12, the average rate was 6.4%.

The average rate one year ago was 6.01%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.6%.

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 16 6.75% $2,860
DHI MORTGAGE COMPANY, LTD. 8 5.16% $3,047
NEW DAY FINANCIAL, LLC 6 7.16% $8,913
PENNYMAC LOAN SERVICES, LLC 3 5.33% $6,118
LOANDEPOT.COM, LLC 2 6.69% $6,786
NAVY FEDERAL CREDIT UNION 2 5.56% $6,621
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 7.00% $8,059
Truist 2 5.69% $4,191
Towne Bank 1 6.50% $11,092
Alcova Mortgage LLC 1 5.75% $6,943
USAA Federal Savings Bank 1 5.63% $7,347
American Security Mortgage Corp. 1 5.63% $3,623
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $9,304
CAPITAL CENTER, L.L.C. 1 6.25% $758
CROSSCOUNTRY MORTGAGE, LLC 1 5.50% $4,496
GoPrime Mortgage, Inc. 1 7.38% $6,604
GSF Mortgage Corporation 1 6.63% $12,935
Southern Bank and Trust Company 1 6.75% $2,687

The top Washington VA lender as defined by loan originations is Mortgage Research Center, LLC, with 16 VA loans originated. Their average total fees are $2,860, which is $187 lower than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee Washington VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($2,860), .

The lowest rate Washington VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.75%), .


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 $238,750 (19.4%) $260,876 (7.2%) 0.00 317
2018-02-01 $241,800 (10.2%) $260,749 (2.6%) 0.00 312
2018-03-01 $249,900 (1.3%) $263,230 (-0.7%) 0.00 312
2018-04-01 $249,900 (-3.5%) $266,120 (-3.1%) 0.00 335
2018-05-01 $256,950 (-4.2%) $271,863 (-3.4%) 0.00 347
2018-06-01 $249,900 (-9.1%) $278,904 (-3.4%) 0.00 333
2018-07-01 $252,400 (-8.2%) $288,110 (-0.8%) 0.00 326
2018-08-01 $249,900 (-3.5%) $290,313 (2.7%) 0.00 311
2018-09-01 $248,450 (-0.6%) $286,107 (3.1%) 0.00 307
2018-10-01 $245,000 (-1.7%) $281,816 (4.4%) 0.00 292
2018-11-01 $243,700 (-2.5%) $280,461 (3.3%) 0.00 290
2018-12-01 $245,000 (1.0%) $281,559 (6.7%) 0.00 274
2019-01-01 $243,650 (2.1%) $280,720 (7.6%) 0.00 260
2019-02-01 $249,900 (3.4%) $289,286 (10.9%) 0.00 257
2019-03-01 $261,164 (4.5%) $296,656 (12.7%) 0.00 261
2019-04-01 $264,664 (5.9%) $304,056 (14.3%) 0.00 264
2019-05-01 $273,675 (6.5%) $309,234 (13.8%) 0.00 271
2019-06-01 $274,900 (10.0%) $307,481 (10.3%) 0.00 283
2019-07-01 $275,000 (9.0%) $311,912 (8.3%) 0.00 279
2019-08-01 $281,209 (12.5%) $320,331 (10.3%) 0.00 262
2019-09-01 $283,173 (14.0%) $326,608 (14.2%) 0.00 251
2019-10-01 $284,482 (16.1%) $326,354 (15.8%) 0.00 237
2019-11-01 $269,900 (10.8%) $311,402 (11.0%) 0.00 233
2019-12-01 $266,000 (8.6%) $309,519 (9.9%) 0.00 231
2020-01-01 $259,650 (6.6%) $301,137 (7.3%) 0.00 223
2020-02-01 $259,900 (4.0%) $302,889 (4.7%) 0.00 217
2020-03-01 $259,450 (-0.7%) $297,152 (0.2%) 0.00 219
2020-04-01 $254,725 (-3.8%) $295,058 (-3.0%) 0.00 216
2020-05-01 $259,200 (-5.3%) $296,387 (-4.2%) 0.00 196
2020-06-01 $261,250 (-5.0%) $303,696 (-1.2%) 0.00 177
2020-07-01 $259,975 (-5.5%) $310,099 (-0.6%) 0.00 161
2020-08-01 $249,900 (-11.1%) $307,982 (-3.9%) 0.00 153
2020-09-01 $274,825 (-3.0%) $315,722 (-3.3%) 0.00 139
2020-10-01 $255,000 (-10.4%) $309,174 (-5.3%) 0.00 119
2020-11-01 $252,500 (-6.5%) $306,632 (-1.5%) 0.00 108
2020-12-01 $280,625 (5.5%) $354,729 (14.6%) 0.00 96
2021-01-01 $293,000 (12.8%) $376,303 (25.0%) 0.00 89
2021-02-01 $294,000 (13.1%) $380,381 (25.6%) 0.00 71
2021-03-01 $296,392 (14.2%) $370,455 (24.7%) 0.00 69
2021-04-01 $304,367 (19.5%) $381,640 (29.3%) 0.00 64
2021-05-01 $324,950 (25.4%) $388,953 (31.2%) 0.00 61
2021-06-01 $340,950 (30.5%) $396,347 (30.5%) 0.00 57
2021-07-01 $299,000 (15.0%) $366,668 (18.2%) 0.00 65
2021-08-01 $318,000 (27.3%) $382,555 (24.2%) 0.00 68
2021-09-01 $256,200 (-6.8%) $335,883 (6.4%) 0.00 76
2021-10-01 $269,900 (5.8%) $354,688 (14.7%) 0.00 72
2021-11-01 $274,900 (8.9%) $335,172 (9.3%) 0.00 61
2021-12-01 $289,450 (3.1%) $340,700 (-4.0%) 0.00 61
2022-01-01 $259,450 (-11.5%) $335,970 (-10.7%) 0.00 60
2022-02-01 $262,400 (-10.8%) $327,681 (-13.9%) 0.00 53
2022-03-01 $282,500 (-4.7%) $317,007 (-14.4%) 0.00 47
2022-04-01 $322,000 (5.8%) $373,522 (-2.1%) 0.00 53
2022-05-01 $312,000 (-4.0%) $365,549 (-6.0%) 0.00 61
2022-06-01 $322,225 (-5.5%) $384,631 (-3.0%) 0.00 75
2022-07-01 $311,500 (4.2%) $382,100 (4.2%) 0.00 87
2022-08-01 $311,225 (-2.1%) $383,016 (0.1%) 0.00 89
2022-09-01 $288,500 (12.6%) $351,724 (4.7%) 0.00 82
2022-10-01 $312,000 (15.6%) $396,220 (11.7%) 0.00 86
2022-11-01 $306,000 (11.3%) $384,382 (14.7%) 0.00 95
2022-12-01 $308,950 (6.7%) $384,876 (13.0%) 0.00 78
2023-01-01 $299,360 (15.4%) $363,931 (8.3%) 0.00 75
2023-02-01 $309,975 (18.1%) $377,128 (15.1%) 0.00 60
2023-03-01 $329,725 (16.7%) $399,012 (25.9%) 0.00 61
2023-04-01 $329,900 (2.5%) $434,870 (16.4%) 0.00 61
2023-05-01 $339,195 (8.7%) $481,816 (31.8%) 0.00 76
2023-06-01 $324,365 (0.7%) $485,027 (26.1%) 0.00 92
2023-07-01 $339,000 (8.8%) $472,438 (23.6%) 0.00 95
2023-08-01 $335,623 (7.8%) $473,851 (23.7%) 0.00 87
2023-09-01 $349,945 (21.3%) $479,253 (36.3%) 0.00 72
2023-10-01 $375,000 (20.2%) $485,497 (22.5%) 0.00 76
2023-11-01 $372,450 (21.7%) $447,440 (16.4%) 0.00 80
2023-12-01 $375,000 (21.4%) $445,665 (15.8%) 0.00 73
2024-01-01 $389,500 (30.1%) $427,881 (17.6%) 0.00 78
2024-02-01 $373,725 (20.6%) $422,708 (12.1%) 0.00 94
2024-03-01 $399,500 (21.2%) $426,716 (6.9%) 0.00 105
2024-04-01 $442,425 (34.1%) $476,305 (9.5%) 0.00 92
Washington's median listing price for 2024-04-01 was $442,425, a difference of $112,525 (34.1%) versus the prior year and $42,925 versus the prior month.

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

Washington's average listing price for 2024-04-01 was $476,305, a difference of $41,435 (9.5%) versus the prior year and $49,589 versus the prior month.

For the 2024-04-01 period, Washington had 92 MLS listings, a difference of -13 listings (-12%) versus the prior month and 31 listings (51%) 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 2,052 sqft
2018-02-01 0 days 2,060 sqft
2018-03-01 0 days 2,021 sqft
2018-04-01 0 days 2,004 sqft
2018-05-01 0 days 2,050 sqft
2018-06-01 0 days 2,000 sqft
2018-07-01 0 days 2,050 sqft
2018-08-01 0 days 2,061 sqft
2018-09-01 0 days 2,000 sqft
2018-10-01 0 days 1,975 sqft
2018-11-01 0 days 1,960 sqft
2018-12-01 0 days 1,950 sqft
2019-01-01 0 days 1,948 sqft
2019-02-01 0 days 1,948 sqft
2019-03-01 0 days 1,984 sqft
2019-04-01 0 days 2,030 sqft
2019-05-01 0 days 1,994 sqft
2019-06-01 0 days 2,051 sqft
2019-07-01 0 days 2,051 sqft
2019-08-01 0 days 2,087 sqft
2019-09-01 0 days 2,121 sqft
2019-10-01 0 days 2,144 sqft
2019-11-01 0 days 2,036 sqft
2019-12-01 0 days 2,033 sqft
2020-01-01 0 days 2,006 sqft
2020-02-01 0 days 2,012 sqft
2020-03-01 0 days 2,044 sqft
2020-04-01 0 days 2,024 sqft
2020-05-01 0 days 2,077 sqft
2020-06-01 0 days 2,077 sqft
2020-07-01 0 days 2,083 sqft
2020-08-01 0 days 2,050 sqft
2020-09-01 0 days 2,091 sqft
2020-10-01 0 days 2,100 sqft
2020-11-01 0 days 1,996 sqft
2020-12-01 0 days 2,105 sqft
2021-01-01 0 days 2,180 sqft
2021-02-01 0 days 2,138 sqft
2021-03-01 0 days 2,030 sqft
2021-04-01 0 days 2,140 sqft
2021-05-01 0 days 2,111 sqft
2021-06-01 0 days 1,983 sqft
2021-07-01 0 days 1,908 sqft
2021-08-01 0 days 2,005 sqft
2021-09-01 0 days 1,899 sqft
2021-10-01 0 days 1,977 sqft
2021-11-01 0 days 2,000 sqft
2021-12-01 0 days 2,024 sqft
2022-01-01 0 days 1,842 sqft
2022-02-01 0 days 1,776 sqft
2022-03-01 0 days 1,845 sqft
2022-04-01 0 days 1,863 sqft
2022-05-01 0 days 1,869 sqft
2022-06-01 0 days 1,878 sqft
2022-07-01 0 days 1,785 sqft
2022-08-01 0 days 1,792 sqft
2022-09-01 0 days 1,732 sqft
2022-10-01 0 days 1,787 sqft
2022-11-01 0 days 1,929 sqft
2022-12-01 0 days 2,026 sqft
2023-01-01 0 days 1,869 sqft
2023-02-01 0 days 2,020 sqft
2023-03-01 0 days 2,026 sqft
2023-04-01 0 days 2,028 sqft
2023-05-01 0 days 2,055 sqft
2023-06-01 0 days 2,141 sqft
2023-07-01 0 days 2,030 sqft
2023-08-01 0 days 2,076 sqft
2023-09-01 0 days 2,120 sqft
2023-10-01 0 days 2,117 sqft
2023-11-01 0 days 2,036 sqft
2023-12-01 0 days 1,997 sqft
2024-01-01 0 days 1,842 sqft
2024-02-01 0 days 1,871 sqft
2024-03-01 0 days 1,963 sqft
2024-04-01 0 days 1,966 sqft
Washington's median listing age (time on market) for 2024-04-01 was 0 days.

Washington's median square footage for active listings during the 2024-04-01 period was 1,966 sqft. One year prior, the average listing was 2,028 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.