Washington VA Loan Rates, Closing Costs & Stats

Washington, NC

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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 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 6.35% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.4% and one month ago for the week of 2024-10-04, the average rate was 5.43%.

    The average rate one year ago was 7.09%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.34%.

    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
    2024-05-01 $414,000 (22.1%) $476,398 (-1.1%) 0.00 105
    2024-06-01 $395,000 (21.8%) $459,682 (-5.2%) 0.00 128
    2024-07-01 $396,000 (16.8%) $455,430 (-3.6%) 0.00 113
    2024-08-01 $377,750 (12.6%) $459,181 (-3.1%) 0.00 119
    2024-09-01 $378,625 (8.2%) $440,712 (-8.0%) 0.00 129
    2024-10-01 $354,950 (-5.4%) $412,637 (-15.0%) 0.00 136
    Washington's median listing price for 2024-10-01 was $354,950, a difference of $-20,050 (-5.4%) versus the prior year and $-23,675 versus the prior month.

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

    Washington's average listing price for 2024-10-01 was $412,637, a difference of $-72,860 (-15.0%) versus the prior year and $-28,075 versus the prior month.

    For the 2024-10-01 period, Washington had 136 MLS listings, a difference of 7 listings (5%) versus the prior month and 60 listings (79%) 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
    2024-05-01 0 days 1,952 sqft
    2024-06-01 0 days 1,872 sqft
    2024-07-01 0 days 1,852 sqft
    2024-08-01 0 days 1,851 sqft
    2024-09-01 0 days 1,853 sqft
    2024-10-01 0 days 1,846 sqft
    Washington's median listing age (time on market) for 2024-10-01 was 0 days.

    Washington's median square footage for active listings during the 2024-10-01 period was 1,846 sqft. One year prior, the average listing was 2,117 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.