Albany VA Loan Rates, Closing Costs & Stats

ALBANY-LEBANON, OR

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 51 lenders originated 193 VA loans during 2023. The total origination value was $76,135,000, with an average VA loan value of $394,482.

Albany VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Albany averaged 6.59% for the week of 2024-06-14, compared to the national average (all VA variants) of 6.423% for the same period.

Albany's average VA mortgage closing costs are $6,894.

The average rate for the prior week (2024-06-07) was 6.46% and one month ago for the week of 2024-05-10, the average rate was 6.78%.

The average rate one year ago was 6.32%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.42%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 22 6.84% $5,652
UNITED WHOLESALE MORTGAGE, LLC 16 6.03% $8,077
SUMMIT FUNDING, INC. 11 6.40% $10,303
NAVY FEDERAL CREDIT UNION 10 5.48% $7,552
MOVEMENT MORTGAGE, LLC 8 6.56% $7,702
FREEDOM MORTGAGE CORPORATION 8 6.63% $18,143
CALIBER HOME LOANS, INC. 7 5.82% $14,670
S1L, Inc. 7 6.70% $9,437
GUILD MORTGAGE COMPANY 6 6.38% $15,871
QUICKEN LOANS, LLC 6 5.68% $13,321
LOANDEPOT.COM, LLC 5 6.63% $16,927
The Federal Savings Bank 5 6.08% $18,214
PENNYMAC LOAN SERVICES, LLC 5 5.50% $8,234
DAS Acquisition Company, LLC 5 6.48% $10,548
NATIONS DIRECT MORTGAGE, LLC 4 6.44% $8,742
CMG MORTGAGE, INC. 4 6.50% $10,201
Sierra Pacific Mortgage Company, Inc. 4 6.47% $12,925
Flagstar Bank, FSB 3 6.02% $14,311
PACIFIC RESIDENTIAL MORTGAGE, LLC 3 6.08% $9,335
ACADEMY MORTGAGE CORPORATION 3 6.75% $7,967
Equity Prime Mortgage LLC 3 6.00% $12,077
Mr. Cooper ( Nationstar Mortgage ) 3 6.08% $17,326
LPMC, LLC 3 6.38% $6,736
NEW DAY FINANCIAL, LLC 2 7.75% $18,510
CROSSCOUNTRY MORTGAGE, LLC 2 6.13% $9,339
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.25% $1,282
GUARANTEED RATE, INC. 2 6.25% $4,011
MORTGAGE EXPRESS, LLC 2 6.06% $12,574
NEWREZ LLC 2 5.88% $8,945
PLAZA HOME MORTGAGE, INC. 2 6.50% $9,378
ROGUE 2 6.63% $14,972
SUCCESS MORTGAGE PARTNERS, INC. 2 6.81% $13,923
Umpqua Bank 2 6.19% $13,097
NOVA FINANCIAL & INVESTMENT CORPORATION 1 6.75% $25,758
Ixonia Bank 1 7.25% $14,693
GSF Mortgage Corporation 1 5.00% $10,400
Plains Commerce Bank 1 6.13% $7,696
PLANET HOME LENDING, LLC 1 4.75% $9,846
AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $10,513
First Federal Bank 1 5.50% $14,134
TWINSTAR 1 5.13% $9,496
EAGLE HOME MORTGAGE, LLC 1 6.75% $446
DIRECTORS MORTGAGE, INC. 1 6.88% $7,652
AMERICAN FINANCING CORPORATION 1 7.50% $30,367
BROKER SOLUTIONS, INC. 1 6.75% $10,932
SUMMIT MORTGAGE CORPORATION 1 6.25% $8,478
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $0
MANN FINANCIAL INC. 1 7.38% $9,749
LAKEVIEW LOAN SERVICING, LLC 1 6.25% $6,965
Keystone Funding, Inc. 1 5.50% $20,113
SUN WEST MORTGAGE COMPANY, INC. 1 6.75% $11,266

The top Albany VA lender as defined by loan originations is Mortgage Research Center, LLC, with 22 VA loans originated. Their average total fees are $5,652, which is $2,426 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Albany VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,652), NAVY FEDERAL CREDIT UNION ($7,552), UNITED WHOLESALE MORTGAGE, LLC ($8,077), SUMMIT FUNDING, INC. ($10,303) and .

The lowest rate Albany VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.48%), UNITED WHOLESALE MORTGAGE, LLC (6.03%), SUMMIT FUNDING, INC. (6.40%), Mortgage Research Center, LLC (6.84%) and .


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 $319,900 (39.3%) $361,950 (24.0%) 0.00 294
2018-02-01 $325,450 (32.9%) $361,111 (18.9%) 0.00 244
2018-03-01 $332,900 (30.7%) $359,696 (16.4%) 0.00 252
2018-04-01 $341,200 (31.3%) $375,648 (20.4%) 0.00 251
2018-05-01 $343,125 (29.5%) $404,665 (29.3%) 0.00 277
2018-06-01 $349,950 (30.7%) $398,908 (28.3%) 0.00 313
2018-07-01 $347,500 (15.8%) $394,197 (12.2%) 0.00 345
2018-08-01 $346,200 (12.2%) $389,812 (10.0%) 0.00 378
2018-09-01 $349,450 (12.8%) $395,642 (12.4%) 0.00 350
2018-10-01 $346,988 (10.2%) $401,295 (11.1%) 0.00 351
2018-11-01 $342,000 (5.2%) $399,130 (8.4%) 0.00 342
2018-12-01 $334,900 (4.7%) $398,290 (10.9%) 0.00 343
2019-01-01 $329,500 (3.0%) $407,704 (12.6%) 0.00 302
2019-02-01 $331,423 (1.8%) $430,532 (19.2%) 0.00 286
2019-03-01 $340,621 (2.3%) $432,752 (20.3%) 0.00 284
2019-04-01 $348,250 (2.1%) $437,612 (16.5%) 0.00 273
2019-05-01 $348,700 (1.6%) $432,413 (6.9%) 0.00 294
2019-06-01 $349,900 (0.0%) $427,350 (7.1%) 0.00 323
2019-07-01 $339,800 (-2.2%) $417,477 (5.9%) 0.00 336
2019-08-01 $335,691 (-3.0%) $404,808 (3.9%) 0.00 363
2019-09-01 $329,677 (-5.7%) $403,018 (1.9%) 0.00 363
2019-10-01 $328,168 (-5.4%) $408,626 (1.8%) 0.00 345
2019-11-01 $322,900 (-5.6%) $405,677 (1.6%) 0.00 312
2019-12-01 $329,450 (-1.6%) $404,294 (1.5%) 0.00 299
2020-01-01 $339,900 (3.2%) $430,022 (5.5%) 0.00 259
2020-02-01 $339,250 (2.4%) $432,102 (0.4%) 0.00 239
2020-03-01 $336,700 (-1.2%) $413,537 (-4.4%) 0.00 213
2020-04-01 $347,200 (-0.3%) $417,010 (-4.7%) 0.00 254
2020-05-01 $349,900 (0.3%) $426,478 (-1.4%) 0.00 227
2020-06-01 $366,449 (4.7%) $468,174 (9.6%) 0.00 177
2020-07-01 $375,450 (10.5%) $450,484 (7.9%) 0.00 185
2020-08-01 $387,900 (15.6%) $468,365 (15.7%) 0.00 165
2020-09-01 $380,938 (15.6%) $486,111 (20.6%) 0.00 138
2020-10-01 $374,900 (14.2%) $481,101 (17.7%) 0.00 147
2020-11-01 $388,550 (20.3%) $514,776 (26.9%) 0.00 121
2020-12-01 $389,675 (18.3%) $522,822 (29.3%) 0.00 111
2021-01-01 $390,450 (14.9%) $495,050 (15.1%) 0.00 102
2021-02-01 $340,450 (0.4%) $445,596 (3.1%) 0.00 105
2021-03-01 $316,250 (-6.1%) $442,278 (7.0%) 0.00 105
2021-04-01 $332,375 (-4.3%) $480,934 (15.3%) 0.00 109
2021-05-01 $395,000 (12.9%) $522,780 (22.6%) 0.00 111
2021-06-01 $410,725 (12.1%) $509,679 (8.9%) 0.00 124
2021-07-01 $399,900 (6.5%) $509,222 (13.0%) 0.00 136
2021-08-01 $404,900 (4.4%) $494,023 (5.5%) 0.00 169
2021-09-01 $399,500 (4.9%) $471,002 (-3.1%) 0.00 186
2021-10-01 $419,900 (12.0%) $494,813 (2.9%) 0.00 192
2021-11-01 $420,000 (8.1%) $534,918 (3.9%) 0.00 174
2021-12-01 $417,450 (7.1%) $528,473 (1.1%) 0.00 149
2022-01-01 $423,925 (8.6%) $541,167 (9.3%) 0.00 111
2022-02-01 $419,450 (23.2%) $558,216 (25.3%) 0.00 105
2022-03-01 $430,000 (36.0%) $573,662 (29.7%) 0.00 105
2022-04-01 $435,000 (30.9%) $594,974 (23.7%) 0.00 118
2022-05-01 $420,425 (6.4%) $577,084 (10.4%) 0.00 160
2022-06-01 $419,450 (2.1%) $568,210 (11.5%) 0.00 189
2022-07-01 $424,900 (6.3%) $571,843 (12.3%) 0.00 256
2022-08-01 $427,550 (5.6%) $571,508 (15.7%) 0.00 270
2022-09-01 $424,900 (6.4%) $550,927 (17.0%) 0.00 278
2022-10-01 $434,400 (3.5%) $573,062 (15.8%) 0.00 275
2022-11-01 $436,750 (4.0%) $569,527 (6.5%) 0.00 266
2022-12-01 $419,950 (0.6%) $548,967 (3.9%) 0.00 272
2023-01-01 $419,675 (-1.0%) $534,089 (-1.3%) 0.00 244
2023-02-01 $425,950 (1.6%) $535,290 (-4.1%) 0.00 219
2023-03-01 $421,200 (-2.1%) $542,888 (-5.4%) 0.00 203
2023-04-01 $419,950 (-3.5%) $541,760 (-8.9%) 0.00 187
2023-05-01 $429,450 (2.2%) $568,014 (-1.6%) 0.00 202
2023-06-01 $462,000 (10.1%) $598,041 (5.3%) 0.00 215
2023-07-01 $449,900 (5.9%) $607,520 (6.2%) 0.00 237
2023-08-01 $449,950 (5.2%) $622,812 (9.0%) 0.00 252
2023-09-01 $469,900 (10.6%) $613,186 (11.3%) 0.00 270
2023-10-01 $469,950 (8.2%) $619,877 (8.2%) 0.00 262
2023-11-01 $472,200 (8.1%) $610,048 (7.1%) 0.00 263
2023-12-01 $469,000 (11.7%) $618,012 (12.6%) 0.00 230
2024-01-01 $454,900 (8.4%) $578,977 (8.4%) 0.00 230
2024-02-01 $464,900 (9.1%) $577,930 (8.0%) 0.00 216
2024-03-01 $464,999 (10.4%) $593,502 (9.3%) 0.00 212
2024-04-01 $465,600 (10.9%) $593,728 (9.6%) 0.00 230
2024-05-01 $494,225 (15.1%) $620,336 (9.2%) 0.00 255
Albany's median listing price for 2024-05-01 was $494,225, a difference of $64,775 (15.1%) versus the prior year and $28,625 versus the prior month.

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

Albany's average listing price for 2024-05-01 was $620,336, a difference of $52,322 (9.2%) versus the prior year and $26,608 versus the prior month.

For the 2024-05-01 period, Albany had 255 MLS listings, a difference of 25 listings (11%) versus the prior month and 53 listings (26%) 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 0 days 1,897 sqft
2018-02-01 0 days 1,897 sqft
2018-03-01 0 days 1,871 sqft
2018-04-01 0 days 1,854 sqft
2018-05-01 0 days 1,853 sqft
2018-06-01 0 days 1,857 sqft
2018-07-01 0 days 1,860 sqft
2018-08-01 0 days 1,864 sqft
2018-09-01 0 days 1,871 sqft
2018-10-01 0 days 1,844 sqft
2018-11-01 0 days 1,839 sqft
2018-12-01 0 days 1,821 sqft
2019-01-01 0 days 1,821 sqft
2019-02-01 0 days 1,839 sqft
2019-03-01 0 days 1,813 sqft
2019-04-01 0 days 1,794 sqft
2019-05-01 0 days 1,810 sqft
2019-06-01 0 days 1,827 sqft
2019-07-01 0 days 1,782 sqft
2019-08-01 0 days 1,733 sqft
2019-09-01 0 days 1,737 sqft
2019-10-01 0 days 1,748 sqft
2019-11-01 0 days 1,720 sqft
2019-12-01 0 days 1,722 sqft
2020-01-01 0 days 1,842 sqft
2020-02-01 0 days 1,805 sqft
2020-03-01 0 days 1,731 sqft
2020-04-01 0 days 1,795 sqft
2020-05-01 0 days 1,771 sqft
2020-06-01 0 days 1,892 sqft
2020-07-01 0 days 1,882 sqft
2020-08-01 0 days 1,992 sqft
2020-09-01 0 days 1,850 sqft
2020-10-01 0 days 1,845 sqft
2020-11-01 0 days 1,763 sqft
2020-12-01 0 days 1,756 sqft
2021-01-01 0 days 1,756 sqft
2021-02-01 0 days 1,603 sqft
2021-03-01 0 days 1,542 sqft
2021-04-01 0 days 1,462 sqft
2021-05-01 0 days 1,728 sqft
2021-06-01 0 days 1,709 sqft
2021-07-01 0 days 1,672 sqft
2021-08-01 0 days 1,715 sqft
2021-09-01 0 days 1,644 sqft
2021-10-01 0 days 1,688 sqft
2021-11-01 0 days 1,752 sqft
2021-12-01 0 days 1,701 sqft
2022-01-01 0 days 1,673 sqft
2022-02-01 0 days 1,671 sqft
2022-03-01 0 days 1,682 sqft
2022-04-01 0 days 1,641 sqft
2022-05-01 0 days 1,660 sqft
2022-06-01 0 days 1,652 sqft
2022-07-01 0 days 1,660 sqft
2022-08-01 0 days 1,646 sqft
2022-09-01 0 days 1,618 sqft
2022-10-01 0 days 1,649 sqft
2022-11-01 0 days 1,652 sqft
2022-12-01 0 days 1,643 sqft
2023-01-01 0 days 1,648 sqft
2023-02-01 0 days 1,660 sqft
2023-03-01 0 days 1,678 sqft
2023-04-01 0 days 1,680 sqft
2023-05-01 0 days 1,688 sqft
2023-06-01 0 days 1,722 sqft
2023-07-01 0 days 1,680 sqft
2023-08-01 0 days 1,734 sqft
2023-09-01 0 days 1,800 sqft
2023-10-01 0 days 1,820 sqft
2023-11-01 0 days 1,770 sqft
2023-12-01 0 days 1,732 sqft
2024-01-01 0 days 1,744 sqft
2024-02-01 0 days 1,711 sqft
2024-03-01 0 days 1,716 sqft
2024-04-01 0 days 1,690 sqft
2024-05-01 0 days 1,726 sqft
Albany's median listing age (time on market) for 2024-05-01 was 0 days.

Albany's median square footage for active listings during the 2024-05-01 period was 1,726 sqft. One year prior, the average listing was 1,688 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.