Albany VA Loans
ALBANY, GA
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 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.
Albany's 65 lenders originated 571 VA loans during 2021. The total origination value was $122,865,000, with an average VA loan value of $215,175.
Albany VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Albany
averaged
5.6%
for the week of 2022-05-13, compared to the national average (all VA variants) of
5.158% for the same period.
The average rate for the prior week (2022-05-06) was
5.73% and
one month ago for the week of 2022-04-08, the
average rate was 5.06%.
The average rate one year ago was 3.27%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.31%.
Albany VA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Albany level.
The top Albany VA lender as defined by loan originations is Mortgage Research Center, LLC, with
88 VA loans originated. Their average total fees are
$3,097, which is $493
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Albany VA lenders (with over 10 loans originated) are
FREEDOM MORTGAGE CORPORATION ($2,374), Wells Fargo Bank ($2,998), Renasant Bank ($3,043), Mortgage Research Center, LLC ($3,097) and LOANDEPOT.COM, LLC ($3,140).
The lowest rate Albany VA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC (2.11%), QUICKEN LOANS, LLC (2.48%), PENNYMAC LOAN SERVICES, LLC (2.50%), UNITED WHOLESALE MORTGAGE, LLC (2.52%) and NAVY FEDERAL CREDIT UNION (2.52%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Albany (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $119,900 (4.3%) | $151,831 (11.4%) | 0.44 | 616 |
2018-02-01 | $119,900 (4.4%) | $155,724 (14.6%) | 0.43 | 614 |
2018-03-01 | $124,900 (8.6%) | $156,873 (9.9%) | 0.43 | 641 |
2018-04-01 | $129,900 (13.0%) | $163,659 (10.3%) | 0.44 | 631 |
2018-05-01 | $129,950 (8.4%) | $165,835 (5.5%) | 0.43 | 627 |
2018-06-01 | $129,900 (0.7%) | $165,821 (2.9%) | 0.43 | 639 |
2018-07-01 | $122,500 (-4.0%) | $157,737 (-1.2%) | 0.41 | 654 |
2018-08-01 | $128,670 (-1.0%) | $158,817 (-3.2%) | 0.43 | 627 |
2018-09-01 | $127,000 (-2.2%) | $157,505 (-4.2%) | 0.42 | 645 |
2018-10-01 | $127,450 (-1.9%) | $157,057 (-3.3%) | 0.43 | 636 |
2018-11-01 | $124,900 (-3.6%) | $155,562 (-0.8%) | 0.42 | 628 |
2018-12-01 | $119,000 (-4.7%) | $150,768 (-1.2%) | 0.41 | 587 |
2019-01-01 | $117,900 (-1.7%) | $149,682 (-1.4%) | 0.41 | 513 |
2019-02-01 | $117,733 (-1.8%) | $149,574 (-4.0%) | 0.39 | 502 |
2019-03-01 | $117,000 (-6.3%) | $148,620 (-5.3%) | 0.38 | 512 |
2019-04-01 | $115,000 (-11.5%) | $147,650 (-9.8%) | 0.36 | 534 |
2019-05-01 | $115,900 (-10.8%) | $148,486 (-10.5%) | 0.36 | 542 |
2019-06-01 | $115,000 (-11.5%) | $147,397 (-11.1%) | 0.35 | 568 |
2019-07-01 | $122,450 (0.0%) | $151,311 (-4.1%) | 0.38 | 616 |
2019-08-01 | $119,514 (-7.1%) | $149,129 (-6.1%) | 0.38 | 617 |
2019-09-01 | $119,302 (-6.1%) | $147,869 (-6.1%) | 0.38 | 582 |
2019-10-01 | $120,950 (-5.1%) | $152,028 (-3.2%) | 0.39 | 550 |
2019-11-01 | $129,200 (3.4%) | $157,859 (1.5%) | 0.42 | 515 |
2019-12-01 | $134,950 (13.4%) | $160,951 (6.8%) | 0.45 | 482 |
2020-01-01 | $137,550 (16.7%) | $161,461 (7.9%) | 0.46 | 444 |
2020-02-01 | $137,600 (16.9%) | $161,633 (8.1%) | 0.44 | 461 |
2020-03-01 | $136,500 (16.7%) | $161,880 (8.9%) | 0.43 | 476 |
2020-04-01 | $137,150 (19.3%) | $163,517 (10.8%) | 0.43 | 461 |
2020-05-01 | $139,000 (19.9%) | $165,188 (11.3%) | 0.42 | 436 |
2020-06-01 | $141,400 (23.0%) | $171,467 (16.3%) | 0.41 | 381 |
2020-07-01 | $139,900 (14.3%) | $172,023 (13.7%) | 0.40 | 313 |
2020-08-01 | $135,000 (13.0%) | $168,997 (13.3%) | 0.39 | 304 |
2020-09-01 | $147,450 (23.6%) | $180,698 (22.2%) | 0.42 | 281 |
2020-10-01 | $154,000 (27.3%) | $185,452 (22.0%) | 0.44 | 304 |
2020-11-01 | $146,750 (13.6%) | $181,978 (15.3%) | 0.42 | 278 |
2020-12-01 | $144,950 (7.4%) | $183,530 (14.0%) | 0.43 | 281 |
2021-01-01 | $144,900 (5.3%) | $182,576 (13.1%) | 0.43 | 259 |
2021-02-01 | $144,900 (5.3%) | $177,710 (10.0%) | 0.42 | 253 |
2021-03-01 | $129,900 (-4.8%) | $172,100 (6.3%) | 0.36 | 237 |
2021-04-01 | $123,500 (-10.0%) | $165,474 (1.2%) | 0.33 | 221 |
2021-05-01 | $114,900 (-17.3%) | $168,607 (2.1%) | 0.30 | 204 |
2021-06-01 | $134,900 (-4.6%) | $170,385 (-0.6%) | 0.35 | 206 |
2021-07-01 | $144,750 (3.5%) | $176,382 (2.5%) | 0.38 | 220 |
2021-08-01 | $132,400 (-1.9%) | $167,631 (-0.8%) | 0.35 | 232 |
2021-09-01 | $146,250 (-0.8%) | $174,369 (-3.5%) | 0.38 | 261 |
2021-10-01 | $139,900 (-9.2%) | $171,574 (-7.5%) | 0.37 | 225 |
2021-11-01 | $139,900 (-4.7%) | $171,026 (-6.0%) | 0.37 | 232 |
2021-12-01 | $122,250 (-15.7%) | $154,535 (-15.8%) | 0.33 | 232 |
2022-01-01 | $116,000 (-19.9%) | $159,160 (-12.8%) | 0.31 | 187 |
2022-02-01 | $131,000 (-9.6%) | $194,588 (9.5%) | 0.33 | 173 |
2022-03-01 | $137,450 (5.8%) | $188,695 (9.6%) | 0.34 | 174 |
2022-04-01 | $169,900 (37.6%) | $204,705 (23.7%) | 0.40 | 181 |
Albany's median listing price comes in at 40% of the national average.
Albany's average listing price for 2022-04-01 was $204,705, a difference of $39,231 (23.7%) versus the prior year and $16,010 versus the prior month.
For the 2022-04-01 period, Albany had 181 MLS listings, a difference of 7 listings (4%) versus the prior month and -40 listings (-18%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Albany (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 106 days | 1,827 sqft |
2018-02-01 | 106 days | 1,854 sqft |
2018-03-01 | 97 days | 1,862 sqft |
2018-04-01 | 88 days | 1,891 sqft |
2018-05-01 | 88 days | 1,885 sqft |
2018-06-01 | 92 days | 1,862 sqft |
2018-07-01 | 86 days | 1,813 sqft |
2018-08-01 | 94 days | 1,844 sqft |
2018-09-01 | 92 days | 1,850 sqft |
2018-10-01 | 103 days | 1,836 sqft |
2018-11-01 | 123 days | 1,830 sqft |
2018-12-01 | 124 days | 1,792 sqft |
2019-01-01 | 129 days | 1,800 sqft |
2019-02-01 | 125 days | 1,772 sqft |
2019-03-01 | 97 days | 1,742 sqft |
2019-04-01 | 74 days | 1,717 sqft |
2019-05-01 | 74 days | 1,737 sqft |
2019-06-01 | 72 days | 1,709 sqft |
2019-07-01 | 68 days | 1,711 sqft |
2019-08-01 | 79 days | 1,708 sqft |
2019-09-01 | 87 days | 1,713 sqft |
2019-10-01 | 95 days | 1,762 sqft |
2019-11-01 | 105 days | 1,794 sqft |
2019-12-01 | 98 days | 1,817 sqft |
2020-01-01 | 103 days | 1,825 sqft |
2020-02-01 | 97 days | 1,837 sqft |
2020-03-01 | 67 days | 1,822 sqft |
2020-04-01 | 69 days | 1,830 sqft |
2020-05-01 | 80 days | 1,841 sqft |
2020-06-01 | 91 days | 1,863 sqft |
2020-07-01 | 86 days | 1,866 sqft |
2020-08-01 | 64 days | 1,850 sqft |
2020-09-01 | 64 days | 1,950 sqft |
2020-10-01 | 53 days | 1,924 sqft |
2020-11-01 | 55 days | 1,926 sqft |
2020-12-01 | 65 days | 1,936 sqft |
2021-01-01 | 78 days | 1,938 sqft |
2021-02-01 | 74 days | 1,905 sqft |
2021-03-01 | 47 days | 1,747 sqft |
2021-04-01 | 41 days | 1,676 sqft |
2021-05-01 | 51 days | 1,655 sqft |
2021-06-01 | 48 days | 1,708 sqft |
2021-07-01 | 42 days | 1,713 sqft |
2021-08-01 | 43 days | 1,653 sqft |
2021-09-01 | 43 days | 1,707 sqft |
2021-10-01 | 50 days | 1,674 sqft |
2021-11-01 | 45 days | 1,675 sqft |
2021-12-01 | 48 days | 1,559 sqft |
2022-01-01 | 51 days | 1,595 sqft |
2022-02-01 | 47 days | 1,616 sqft |
2022-03-01 | 56 days | 1,636 sqft |
2022-04-01 | 34 days | 1,645 sqft |
Albany's median square footage for active listings during the 2022-04-01 period was 1,645 sqft. One year prior, the average listing was 1,676 sqft.