Mortgage Refinancing in Virginia
Real refinance data for Virginia from federal sources, updated annually. See how your state compares to national averages.
Refinance Originations
10,567
2023 HMDA data
Avg Loan Amount
$419,603
National: $410,429
Denial Rate
28.51%
▼ Above national avg
Median Home Value
$360,700
U.S. Census Bureau
Source: HMDA 2023 via CFPB, U.S. Census Bureau ACS
Calculate your refinance savingsRefinance Trends in Virginia
Originations by Year
Refinance originations in Virginia by year. Source: HMDA via CFPB.
Loan Type Breakdown
Includes all refinance applications (originated, denied, and other outcomes). Source: HMDA via CFPB.
Home Price Trends in Virginia
Source: FHFA House Price Index
Top Lenders in Virginia
| # | Lender | HMDA Records | Avg Loan |
|---|---|---|---|
| 1 | Truist Bank | 21,469 | - |
| 2 | Rocket Mortgage LLC | 18,530 | - |
| 3 | Navy Federal Credit Union | 18,059 | - |
| 4 | Navy Federal Credit Union | 17,953 | - |
| 5 | Pennymac Loan Services LLC | 15,600 | - |
| 6 | Truist Bank | 15,199 | - |
| 7 | Wells Fargo Bank National Association | 14,968 | - |
| 8 | Pennymac Loan Services LLC | 12,951 | - |
| 9 | Rocket Mortgage LLC | 11,591 | - |
| 10 | Bank Of America National Association | 9,831 | - |
Ranked by total HMDA filings in the state (2023). Source: HMDA via CFPB.
Compare all lenders →How Virginia Compares
| Metric | Virginia | National Avg |
|---|---|---|
| Refinance Originations | 10,567 | 435,709 |
| Avg Loan Amount | $419,603 | $410,429 |
| Denial Rate | 28.51% | 27.87% |
Green indicates the state performs better than the national average. Red indicates worse. Source: HMDA 2023, U.S. Census Bureau.
Current Mortgage Rates
30-Year Fixed
6.38%
▲ 6.22% prev
15-Year Fixed
5.75%
▲ 5.54% prev
5/1 ARM
6.06%
▲ 5.95% prev
National average rates updated daily from FRED (Federal Reserve Bank of St. Louis). Your rate depends on your credit score, loan amount, and lender.
Get personalized rates →Frequently Asked Questions
How many people refinanced in Virginia in 2023?
In 2023, there were 10,567 refinance originations in Virginia, according to HMDA data reported to the CFPB.
What is the average refinance loan amount in Virginia?
The average refinance loan amount in Virginia was $419,603 in 2023. This reflects originated loans reported through HMDA.
What is the refinance denial rate in Virginia?
The refinance denial rate in Virginia was 28.51% in 2023. This is calculated from originated and denied applications reported to the CFPB.
What are the top refinance lenders in Virginia?
The most active lenders in Virginia by HMDA filing volume include Truist Bank, Rocket Mortgage LLC, Navy Federal Credit Union. See the full list above for details.
Is it a good time to refinance in Virginia?
Whether refinancing makes sense depends on your current rate, loan balance, and how long you plan to stay in your home. Use our refinance calculator and break-even calculator to estimate your potential savings based on current national rates.
Want a deeper analysis?
Read our full editorial guide on refinancing in Virginia, including tips, regulations, and state programs.
Read the Virginia Refinance GuideData sourced from HMDA (Home Mortgage Disclosure Act) via the CFPB and FRED (Federal Reserve Bank of St. Louis). Demographics from the U.S. Census Bureau American Community Survey. This page is for educational purposes only and does not constitute financial advice. Consult a licensed mortgage professional for personalized guidance.