Washington DC
VA Loans in Washington DC
The VA Loan is a vital resource for military families and veterans in Washington DC, offering significant benefits for homebuyers in the nation's capital. With its rich history, diverse culture, and significance as the heart of the United States government, Washington DC is a prominent location for veterans and active-duty military personnel to settle down.
Benefits such as $0 down payment, no PMI, competitive interest rates, and flexible credit score requirements make the VA Loan an attractive option for homeownership in Washington DC, where the real estate market is notably competitive.
Median Sale Price of Homes in Washington DC*
| Washington DC | $610,180 |
*Data estimated based on recent market trends.
Property Taxes in Washington DC
When a property owner turns 65 years of age or older, or is disabled, they can apply for for disabled or senior citizen property tax relief. This benefit reduces a qualified property owner's property tax by 50%.
VA Disability in Washington DC
Disabled veterans in Washington DC may qualify for property tax exemptions, which can provide considerable financial relief, reflecting the city's commitment to supporting its veteran population.
Insurance Programs in Washington DC
In Washington DC, homeowners must consider various types of insurance, especially given the city's urban density and potential for specific risks. Veterans using VA Loans should ensure they have comprehensive coverage to protect their investment.
Military Presence in Washington DC
Washington DC, as the nation's capital, hosts a significant military presence, underlining its pivotal role in national defense and security. Key installations include:
- Joint Base Anacostia-Bolling: A joint base that consolidates Naval Support Facility Anacostia and Bolling Air Force Base, offering a myriad of support to military operations in the capital.
- The Pentagon: Serving as the headquarters of the United States Department of Defense, it is one of the world's largest office buildings and a symbol of the U.S. military.
- Fort McNair: A United States Army post and the home of the National Defense University, as well as the official residence of the Vice President at the Naval Observatory.
- Marine Barracks, Washington, D.C.: Also known as "8th & I," it is the oldest active post in the Marine Corps and the site of numerous ceremonial and official events.
- Coast Guard Station Washington, D.C.: Provides critical maritime and homeland security operations in the Potomac River and its tributaries.
These installations play essential roles in the function and security of the nation, making Washington DC a pivotal location for military personnel and their families, who can take advantage of VA Loan benefits in the area.
VA Home Loan Volume in 2021 in Washington DC*
| Total Loans | 380 |
| Average Loan Amount | $658,758 |
| Total Loan Amount (ALL) | $250,328,119 |
| Total Purchase Loans | 349 |
| Total Purchase Loans % | 91.84% |
| Total IRRRL Loans | 5 |
| Total IRRRL Loans % | 1.32% |
| Total Cash-Out Loans | 26 |
| Total Cash-Out Loans % | 6.84% |
*Data provided by the user for VA Home Loan Volume in Washington DC.
FAQ’s about VA Loans in Washington DC
How do I buy a house in Washington DC? The best way to get started is to give us a call or fill out this form to get started!
How do I find more information about property taxes and exemptions for veterans in Washington DC? Click here to read more details regarding property tax exemptions for veterans.
What are the average interest rates in Washington DC? Interest rates for VA Loans are often lower than the national average for conventional loans. Click here to learn more about interest rates in Washington DC.