Albany VA Loans

ALBANY, GA

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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 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%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    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.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 88 2.97% $3,097
    QUICKEN LOANS, LLC 53 2.48% $3,590
    NAVY FEDERAL CREDIT UNION 47 2.52% $5,049
    FREEDOM MORTGAGE CORPORATION 30 2.55% $2,374
    BROKER SOLUTIONS, INC. 24 3.02% $5,563
    PENNYMAC LOAN SERVICES, LLC 23 2.50% $4,490
    NEW DAY FINANCIAL, LLC 18 2.74% $5,442
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 18 3.09% $4,485
    USAA Federal Savings Bank 15 3.01% $3,873
    UNITED WHOLESALE MORTGAGE, LLC 14 2.52% $5,658
    LOANDEPOT.COM, LLC 12 2.84% $3,140
    Ameris Bank 11 2.65% $6,707
    VILLAGE CAPITAL & INVESTMENT LLC 11 2.11% $3,629
    Renasant Bank 10 3.04% $3,043
    Wells Fargo Bank 10 2.64% $2,998
    Colony Bank 8 2.66% $2,969
    Barrington Bank & Trust Company, N.A. 8 2.78% $2,054
    Mr. Cooper ( Nationstar Mortgage ) 7 3.25% $2,965
    LAKEVIEW LOAN SERVICING, LLC 6 2.37% $2,331
    The Federal Savings Bank 5 2.55% $7,189
    PENTAGON FEDERAL CREDIT UNION 4 2.28% $1,444
    CLEARPATH LENDING 4 2.47% $3,057
    CALIBER HOME LOANS, INC. 4 2.66% $4,407
    Carrington Mortgage Services, LLC 3 3.42% $2,365
    First Guaranty Mortgage Corporation 3 2.42% $2,776
    Capital City Home Loans, LLC 3 2.79% $3,312
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 3.13% $2,947
    HOMESTAR FINANCIAL CORPORATION 3 2.79% $4,332
    InterContinental Capital Group, Inc 3 2.75% $3,543
    AMERICAN FINANCIAL NETWORK, INC. 3 4.04% $5,133
    AMERISAVE MORTGAGE CORPORATION 2 2.69% $3,278
    TJC Mortgage, Inc. 2 2.50% $5,538
    SOUTHPOINT FINANCIAL SERVICES, INC. 2 4.06% $4,202
    Mid-Continent Funding, Inc. 2 2.81% $1,809
    PLANET HOME LENDING, LLC 2 2.88% $1,789
    Flagstar Bank, FSB 2 3.00% $1,509
    NEWREZ LLC 2 2.69% $1,404
    MUTUAL OF OMAHA MORTGAGE, INC. 2 2.88% $450
    Willamette Valley Bank 1 2.75% $2,501
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.75% $2,746
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 3.13% $6,052
    BNC National Bank 1 2.25% $2,163
    CROSSCOUNTRY MORTGAGE, LLC 1 2.63% $1,726
    DIRECT LENDERS, LLC 1 2.25% $1,520
    FIRST HOME MORTGAGE CORPORATION 1 2.25% $3,443
    GENEVA FINANCIAL, LLC 1 2.75% $1,306
    GMFS LLC 1 2.63% $450
    GUARANTEED RATE, INC. 1 3.13% $450
    HOME POINT FINANCIAL CORPORATION 1 2.25% $1,040
    JAMES B. NUTTER & COMPANY 1 2.75% $1,184
    Lakeview Community Capital, LLC 1 2.50% $3,450
    LENDUS, LLC 1 3.55% $2,624
    MEMBER FIRST MORTGAGE, LLC 1 2.88% $2,049
    MOVEMENT MORTGAGE, LLC 1 2.38% $6,947
    NBKC BANK 1 2.75% $2,012
    North American Savings Bank, F.S.B. 1 2.25% $1,778
    NP, Inc. 1 2.75% $3,198
    POLARIS HOME FUNDING CORP. 1 2.75% $6,717
    Prime Choice Funding Inc. 1 2.38% $2,912
    Princeton Mortgage Corporation 1 3.00% $4,027
    RUOFF MORTGAGE COMPANY, INC. 1 3.38% $13,014
    Truist Bank 1 2.63% $11,869
    UNITED SECURITY FINANCIAL CORP 1 2.88% $2,312
    U.S. Bank 1 2.38% $0
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.88% $11,877

    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. Louis
    Date 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 for 2022-04-01 was $169,900, a difference of $46,400 (37.6%) versus the prior year and $32,450 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2022-04-01 was 34 days. This is -17% shorter than the same period one year ago.

    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.

    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.