Albany VA Loan Rates, Closing Costs & Stats

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 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.

    Albany's 60 lenders originated 348 VA loans during 2022. The total origination value was $82,550,000, with an average VA loan value of $237,213.

    Albany VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Albany averaged -0.09% for the week of 2023-06-02, compared to the national average (all VA variants) of 0% for the same period.

    Albany's average VA mortgage closing costs are $4,191.

    The average rate for the prior week (2023-05-26) was 6.45% and one month ago for the week of 2023-04-28, the average rate was 6.1%.

    The average rate one year ago was 4.65%.

    For refis of the same type during the week of 2023-06-02, the average rate was -0.99%.

    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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Albany level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 87 5.09% $4,875
    NAVY FEDERAL CREDIT UNION 41 3.93% $4,699
    QUICKEN LOANS, LLC 17 4.20% $8,150
    UNITED WHOLESALE MORTGAGE, LLC 14 4.67% $6,024
    Flagstar Bank, FSB 11 5.38% $3,822
    BROKER SOLUTIONS, INC. 10 4.96% $9,537
    MORTGAGE SOLUTIONS OF COLORADO, LLC 10 5.93% $6,573
    Colony Bank 10 5.18% $3,976
    FREEDOM MORTGAGE CORPORATION 10 4.19% $7,575
    PENNYMAC LOAN SERVICES, LLC 9 3.56% $5,603
    LOANDEPOT.COM, LLC 8 4.30% $5,453
    USAA Federal Savings Bank 8 4.83% $7,041
    NEW DAY FINANCIAL, LLC 5 5.67% $7,690
    Renasant Bank 5 4.60% $1,754
    Mr. Cooper ( Nationstar Mortgage ) 5 4.08% $6,840
    Wells Fargo Bank 4 3.53% $7,005
    CARDINAL FINANCIAL 4 5.00% $9,677
    The Federal Savings Bank 4 4.56% $12,549
    Equity Prime Mortgage LLC 3 5.71% $4,226
    AMERISAVE MORTGAGE CORPORATION 3 5.00% $11,069
    VILLAGE CAPITAL MORTGAGE 3 3.71% $5,836
    Capital City Home Loans, LLC 3 4.33% $11,647
    Barrington Bank & Trust Company, N.A. 3 5.42% $9,398
    HOMESTAR FINANCIAL CORPORATION 3 5.13% $7,177
    CityWorth Mortgage LLC 2 4.31% $6,744
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 5.19% $3,185
    Ameris Bank 2 3.56% $8,490
    Carrington Mortgage Services, LLC 2 5.06% $15,897
    CERTAINTY HOME LOANS, LLC 2 4.81% $5,691
    CLEARPATH LENDING 2 3.81% $10,462
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 4.62% $9,182
    First Guaranty Mortgage Corporation 2 3.63% $3,117
    LAKEVIEW LOAN SERVICING, LLC 2 3.50% $13,140
    MUTUAL OF OMAHA MORTGAGE, INC. 2 3.88% $3,749
    NEWREZ LLC 2 3.50% $3,050
    NFM, INC. 2 5.19% $9,176
    Synovus Bank 2 5.13% $2,365
    MOVEMENT MORTGAGE, LLC 1 5.25% $7,268
    HomePromise Corporation 1 5.88% $12,591
    CANOPY MORTGAGE, LLC 1 4.13% $3,779
    NATIONS DIRECT MORTGAGE, LLC 1 3.75% $3,853
    HOME POINT FINANCIAL CORPORATION 1 4.88% $16,330
    NBKC BANK 1 4.75% $13,633
    GUARANTEED RATE, INC. 1 3.25% $0
    CALIBER HOME LOANS, INC. 1 3.99% $4,811
    Bank of England 1 4.88% $10,672
    North American Savings Bank, F.S.B. 1 4.38% $16,721
    PANORAMA MORTGAGE GROUP, LLC 1 5.75% $7,853
    FLAT BRANCH MORTGAGE, INC. 1 4.13% $3,929
    PENTAGON FEDERAL CREDIT UNION 1 4.63% $3,043
    First Federal Bank of Kansas City 1 3.38% $12,978
    First Federal Bank 1 4.63% $4,745
    RESIDENTIAL BANCORP. 1 4.88% $4,236
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 4.75% $1,923
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 4.75% $8,963
    Alcova Mortgage LLC 1 5.50% $601
    Mid-Continent Funding, Inc. 1 6.63% $3,995
    MILEND, INC. 1 5.75% $20,874
    Magnolia Bank 1 5.50% $10,675
    LAND HOME FINANCIAL SERVICES, INC. 1 5.50% $3,540

    The top Albany VA lender as defined by loan originations is Mortgage Research Center, LLC, with 87 VA loans originated. Their average total fees are $4,875, which is $176 higher than the next largest lender, NAVY FEDERAL CREDIT UNION.

    The lowest fee Albany VA lenders (with over 10 loans originated) are Flagstar Bank, FSB ($3,822), Colony Bank ($3,976), NAVY FEDERAL CREDIT UNION ($4,699), Mortgage Research Center, LLC ($4,875) and UNITED WHOLESALE MORTGAGE, LLC ($6,024).

    The lowest rate Albany VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (3.93%), FREEDOM MORTGAGE CORPORATION (4.19%), QUICKEN LOANS, LLC (4.20%), UNITED WHOLESALE MORTGAGE, LLC (4.67%) and BROKER SOLUTIONS, INC. (4.96%).

    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%) $150,518 (9.8%) 0.44 581
    2018-02-01 $119,900 (4.3%) $154,222 (13.2%) 0.43 581
    2018-03-01 $124,000 (7.4%) $154,431 (8.6%) 0.43 603
    2018-04-01 $129,900 (10.7%) $161,849 (9.3%) 0.44 590
    2018-05-01 $129,900 (8.3%) $164,043 (5.0%) 0.43 589
    2018-06-01 $129,900 (0.4%) $163,899 (2.1%) 0.43 602
    2018-07-01 $122,500 (-4.3%) $155,992 (-1.6%) 0.41 612
    2018-08-01 $128,950 (-0.8%) $157,633 (-3.7%) 0.43 593
    2018-09-01 $125,000 (-3.8%) $156,084 (-4.3%) 0.42 619
    2018-10-01 $126,975 (-0.6%) $155,770 (-3.1%) 0.43 609
    2018-11-01 $122,450 (-5.4%) $152,829 (-1.2%) 0.42 597
    2018-12-01 $118,450 (-5.2%) $149,094 (-1.8%) 0.41 560
    2019-01-01 $116,900 (-2.5%) $147,935 (-1.7%) 0.41 494
    2019-02-01 $116,258 (-3.0%) $146,725 (-4.9%) 0.39 485
    2019-03-01 $118,329 (-4.6%) $148,143 (-4.1%) 0.38 487
    2019-04-01 $118,479 (-8.8%) $149,058 (-7.9%) 0.36 498
    2019-05-01 $115,975 (-10.7%) $148,259 (-9.6%) 0.36 511
    2019-06-01 $116,500 (-10.3%) $147,950 (-9.7%) 0.35 538
    2019-07-01 $122,500 (0.0%) $151,270 (-3.0%) 0.38 583
    2019-08-01 $119,950 (-7.0%) $150,577 (-4.5%) 0.38 595
    2019-09-01 $119,950 (-4.0%) $151,191 (-3.1%) 0.38 565
    2019-10-01 $119,950 (-5.5%) $151,802 (-2.6%) 0.39 528
    2019-11-01 $129,425 (5.7%) $157,693 (3.2%) 0.42 488
    2019-12-01 $134,950 (13.9%) $161,718 (8.5%) 0.45 457
    2020-01-01 $134,275 (14.9%) $160,107 (8.2%) 0.46 421
    2020-02-01 $135,000 (16.1%) $160,393 (9.3%) 0.44 432
    2020-03-01 $131,950 (11.5%) $159,265 (7.5%) 0.43 449
    2020-04-01 $134,900 (13.9%) $162,162 (8.8%) 0.43 432
    2020-05-01 $135,000 (16.4%) $163,444 (10.2%) 0.42 408
    2020-06-01 $137,425 (18.0%) $170,244 (15.1%) 0.41 358
    2020-07-01 $138,075 (12.7%) $169,935 (12.3%) 0.40 292
    2020-08-01 $135,000 (12.6%) $167,876 (11.5%) 0.39 280
    2020-09-01 $142,350 (18.7%) $181,373 (20.0%) 0.42 266
    2020-10-01 $149,900 (25.0%) $184,503 (21.5%) 0.44 280
    2020-11-01 $145,000 (12.0%) $181,726 (15.2%) 0.42 252
    2020-12-01 $144,000 (6.7%) $184,724 (14.2%) 0.43 254
    2021-01-01 $144,950 (8.0%) $185,940 (16.1%) 0.43 236
    2021-02-01 $138,875 (2.9%) $179,597 (12.0%) 0.42 228
    2021-03-01 $122,850 (-6.9%) $171,325 (7.6%) 0.36 217
    2021-04-01 $119,975 (-11.1%) $163,593 (0.9%) 0.33 208
    2021-05-01 $110,000 (-18.5%) $166,599 (1.9%) 0.30 193
    2021-06-01 $127,475 (-7.2%) $167,394 (-1.7%) 0.35 193
    2021-07-01 $133,500 (-3.3%) $168,435 (-0.9%) 0.38 210
    2021-08-01 $126,525 (-6.3%) $163,146 (-2.8%) 0.35 226
    2021-09-01 $139,900 (-1.7%) $169,552 (-6.5%) 0.38 246
    2021-10-01 $139,900 (-6.7%) $166,621 (-9.7%) 0.37 212
    2021-11-01 $134,475 (-7.3%) $168,312 (-7.4%) 0.37 219
    2021-12-01 $117,500 (-18.4%) $152,919 (-17.2%) 0.33 221
    2022-01-01 $115,000 (-20.7%) $157,188 (-15.5%) 0.31 180
    2022-02-01 $129,200 (-7.0%) $195,534 (8.9%) 0.33 166
    2022-03-01 $139,000 (13.2%) $193,709 (13.1%) 0.34 166
    2022-04-01 $173,000 (44.2%) $210,329 (28.6%) 0.40 174
    2022-05-01 $173,725 (57.9%) $215,800 (29.5%) 0.38 177
    2022-06-01 $180,600 (41.7%) $222,729 (33.1%) 0.40 195
    2022-07-01 $189,900 (42.3%) $232,258 (37.9%) 0.41 230
    2022-08-01 $208,750 (65.0%) $235,817 (44.5%) 0.48 235
    2022-09-01 $199,925 (42.9%) $250,151 (47.5%) 0.00 247
    2022-10-01 $209,900 (50.0%) $238,936 (43.4%) 0.00 249
    2022-11-01 $225,250 (67.5%) $242,569 (44.1%) 0.00 261
    2022-12-01 $199,900 (70.1%) $230,884 (51.0%) 0.00 254
    2023-01-01 $189,900 (65.1%) $225,633 (43.5%) 0.00 236
    2023-02-01 $172,350 (33.4%) $233,269 (19.3%) 0.00 240
    2023-03-01 $199,788 (43.7%) $252,833 (30.5%) 0.00 201
    2023-04-01 $219,900 (27.1%) $257,606 (22.5%) 0.00 187
    2023-05-01 $217,750 (25.3%) $286,173 (32.6%) 0.00 178
    Albany's median listing price for 2023-05-01 was $217,750, a difference of $44,025 (25.3%) versus the prior year and $-2,150 versus the prior month.

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

    Albany's average listing price for 2023-05-01 was $286,173, a difference of $70,373 (32.6%) versus the prior year and $28,567 versus the prior month.

    For the 2023-05-01 period, Albany had 178 MLS listings, a difference of -9 listings (-5%) versus the prior month and 1 listings (1%) 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 1,815 sqft
    2018-02-01 106 days 1,841 sqft
    2018-03-01 97 days 1,840 sqft
    2018-04-01 88 days 1,866 sqft
    2018-05-01 88 days 1,848 sqft
    2018-06-01 92 days 1,840 sqft
    2018-07-01 86 days 1,785 sqft
    2018-08-01 94 days 1,803 sqft
    2018-09-01 92 days 1,825 sqft
    2018-10-01 103 days 1,810 sqft
    2018-11-01 123 days 1,800 sqft
    2018-12-01 124 days 1,765 sqft
    2019-01-01 129 days 1,783 sqft
    2019-02-01 125 days 1,755 sqft
    2019-03-01 97 days 1,737 sqft
    2019-04-01 74 days 1,725 sqft
    2019-05-01 74 days 1,721 sqft
    2019-06-01 72 days 1,708 sqft
    2019-07-01 68 days 1,705 sqft
    2019-08-01 79 days 1,711 sqft
    2019-09-01 87 days 1,734 sqft
    2019-10-01 95 days 1,752 sqft
    2019-11-01 105 days 1,784 sqft
    2019-12-01 98 days 1,806 sqft
    2020-01-01 103 days 1,805 sqft
    2020-02-01 97 days 1,822 sqft
    2020-03-01 67 days 1,800 sqft
    2020-04-01 69 days 1,804 sqft
    2020-05-01 80 days 1,823 sqft
    2020-06-01 91 days 1,843 sqft
    2020-07-01 86 days 1,837 sqft
    2020-08-01 64 days 1,826 sqft
    2020-09-01 64 days 1,911 sqft
    2020-10-01 53 days 1,893 sqft
    2020-11-01 55 days 1,910 sqft
    2020-12-01 65 days 1,901 sqft
    2021-01-01 78 days 1,916 sqft
    2021-02-01 74 days 1,875 sqft
    2021-03-01 47 days 1,734 sqft
    2021-04-01 41 days 1,657 sqft
    2021-05-01 51 days 1,640 sqft
    2021-06-01 48 days 1,700 sqft
    2021-07-01 42 days 1,667 sqft
    2021-08-01 43 days 1,609 sqft
    2021-09-01 43 days 1,670 sqft
    2021-10-01 50 days 1,645 sqft
    2021-11-01 45 days 1,658 sqft
    2021-12-01 48 days 1,541 sqft
    2022-01-01 51 days 1,580 sqft
    2022-02-01 47 days 1,607 sqft
    2022-03-01 56 days 1,639 sqft
    2022-04-01 34 days 1,652 sqft
    2022-05-01 38 days 1,687 sqft
    2022-06-01 29 days 1,755 sqft
    2022-07-01 32 days 1,790 sqft
    2022-08-01 45 days 1,875 sqft
    2022-09-01 0 days 1,780 sqft
    2022-10-01 0 days 1,812 sqft
    2022-11-01 0 days 1,848 sqft
    2022-12-01 0 days 1,829 sqft
    2023-01-01 0 days 1,831 sqft
    2023-02-01 0 days 1,736 sqft
    2023-03-01 0 days 1,853 sqft
    2023-04-01 0 days 1,884 sqft
    2023-05-01 0 days 1,882 sqft
    Albany's median listing age (time on market) for 2023-05-01 was 0 days. This is -100% shorter than the same period one year ago.

    Albany's median square footage for active listings during the 2023-05-01 period was 1,882 sqft. One year prior, the average listing was 1,687 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.