Albany VA Loan Rates, Closing Costs & Stats

ALBANY-LEBANON, OR

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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 69 lenders originated 344 VA loans during 2022. The total origination value was $124,610,000, with an average VA loan value of $362,238.

    Albany VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Albany averaged 0.02% for the week of 2023-11-24, compared to the national average (all VA variants) of 0% for the same period.

    Albany's average VA mortgage closing costs are $6,674.

    The average rate for the prior week (2023-11-17) was 6.87% and one month ago for the week of 2023-10-20, the average rate was 7.4%.

    The average rate one year ago was 6.21%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.19%.

    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 45 4.92% $7,835
    QUICKEN LOANS, LLC 27 3.81% $11,896
    CALIBER HOME LOANS, INC. 20 4.53% $9,992
    FREEDOM MORTGAGE CORPORATION 19 4.24% $12,078
    LOANDEPOT.COM, LLC 19 4.39% $16,494
    MOVEMENT MORTGAGE, LLC 16 4.71% $8,479
    UNITED WHOLESALE MORTGAGE, LLC 14 4.19% $8,844
    NATIONS DIRECT MORTGAGE, LLC 12 4.51% $10,123
    NAVY FEDERAL CREDIT UNION 9 3.74% $10,312
    PENNYMAC LOAN SERVICES, LLC 8 3.51% $11,336
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 8 4.26% $10,164
    NEW DAY FINANCIAL, LLC 7 4.94% $16,615
    PACIFIC RESIDENTIAL MORTGAGE, LLC 6 4.77% $14,830
    USAA Federal Savings Bank 6 4.19% $8,992
    MANN FINANCIAL INC. 5 5.50% $5,744
    ACADEMY MORTGAGE CORPORATION 5 5.15% $17,097
    CROSSCOUNTRY MORTGAGE, LLC 5 4.90% $15,195
    GUILD MORTGAGE COMPANY 5 5.10% $10,298
    SUMMIT FUNDING, INC. 5 4.75% $14,968
    BROKER SOLUTIONS, INC. 5 4.68% $15,046
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 4.41% $8,419
    Umpqua Bank 4 4.06% $10,069
    FINANCE OF AMERICA MORTGAGE LLC 4 4.31% $4,627
    HOME POINT FINANCIAL CORPORATION 4 5.03% $8,115
    CMG MORTGAGE, INC. 3 4.79% $5,832
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 5.21% $13,138
    Armed Forces Bank 3 4.75% $6,005
    LOANPAL, LLC 3 3.33% $11,426
    Mr. Cooper ( Nationstar Mortgage ) 3 4.83% $12,600
    NETWORK CAPITAL FUNDING CORPORATION 3 3.17% $10,196
    Sierra Pacific Mortgage Company, Inc. 3 4.29% $6,666
    The Federal Savings Bank 3 5.75% $15,245
    EAGLE HOME MORTGAGE, LLC 2 5.69% $4,840
    BNC National Bank 2 4.44% $3,844
    PLANET HOME LENDING, LLC 2 3.56% $12,417
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.50% $5,240
    DIRECTORS MORTGAGE, INC. 2 6.06% $6,786
    S1L, Inc. 2 5.06% $20,308
    AMERICAN FINANCING CORPORATION 2 2.56% $3,719
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 5.81% $15,614
    Low VA Rates, LLC 2 4.75% $25,917
    NBKC BANK 1 4.63% $2,856
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.63% $2,257
    CARDINAL FINANCIAL 1 4.75% $3,169
    NEWREZ LLC 1 4.75% $13,474
    LPMC, LLC 1 2.75% $4,342
    OnPoint Community Credit Union 1 6.88% $11,450
    CANOPY MORTGAGE, LLC 1 5.50% $23,542
    PLAZA HOME MORTGAGE, INC. 1 4.25% $6,896
    Barrington Bank & Trust Company, N.A. 1 4.75% $15,746
    SAMMAMISH MORTGAGE COMPANY 1 4.50% $9,797
    Wells Fargo Bank 1 3.38% $5,597
    Strong Home Mortgage, LLC 1 3.25% $2,525
    Banner Bank 1 2.50% $3,109
    Willamette Valley Bank 1 3.75% $11,594
    TruHome Solutions, LLC 1 3.50% $5,685
    KeyBank 1 4.38% $3,127
    LAKEVIEW LOAN SERVICING, LLC 1 2.99% $5,760
    First Federal Bank 1 3.38% $14,018
    Bank of England 1 3.13% $8,092
    North American Savings Bank, F.S.B. 1 3.00% $13,440
    Magnolia Bank 1 2.75% $11,785
    Meridian Bank Corporation 1 5.75% $21,111
    MORTGAGE EXPRESS, LLC 1 5.38% $4,532
    MUFG Union Bank 1 2.38% $6,285
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.25% $27,156
    CLEARPATH LENDING 1 2.25% $3,691
    Nations Lending Corporation 1 3.50% $7,463
    CENTRAL WILLAMETTE Credit Union 1 2.88% $4,488

    The top Albany VA lender as defined by loan originations is Mortgage Research Center, LLC, with 45 VA loans originated. Their average total fees are $7,835, which is $4,060 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Albany VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,835), MOVEMENT MORTGAGE, LLC ($8,479), UNITED WHOLESALE MORTGAGE, LLC ($8,844), CALIBER HOME LOANS, INC. ($9,992) and NATIONS DIRECT MORTGAGE, LLC ($10,123).

    The lowest rate Albany VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (3.81%), UNITED WHOLESALE MORTGAGE, LLC (4.19%), FREEDOM MORTGAGE CORPORATION (4.24%), LOANDEPOT.COM, LLC (4.39%) and NATIONS DIRECT MORTGAGE, LLC (4.51%).

    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 (39.4%) $361,933 (24.1%) 0.00 294
    2018-02-01 $325,450 (32.9%) $361,111 (19.2%) 0.00 244
    2018-03-01 $332,900 (31.3%) $359,696 (16.6%) 0.00 252
    2018-04-01 $341,200 (31.3%) $375,648 (20.6%) 0.00 251
    2018-05-01 $343,125 (29.5%) $404,665 (29.4%) 0.00 277
    2018-06-01 $349,950 (30.7%) $398,908 (28.3%) 0.00 313
    2018-07-01 $347,488 (15.8%) $394,100 (12.1%) 0.00 344
    2018-08-01 $343,000 (10.7%) $389,614 (9.9%) 0.00 376
    2018-09-01 $348,975 (12.6%) $395,467 (12.3%) 0.00 348
    2018-10-01 $345,988 (9.6%) $401,148 (11.0%) 0.00 349
    2018-11-01 $341,950 (5.1%) $398,965 (8.4%) 0.00 340
    2018-12-01 $334,900 (4.7%) $397,559 (10.7%) 0.00 341
    2019-01-01 $328,800 (2.8%) $407,221 (12.5%) 0.00 301
    2019-02-01 $330,445 (1.5%) $430,187 (19.1%) 0.00 285
    2019-03-01 $340,621 (2.3%) $432,416 (20.2%) 0.00 283
    2019-04-01 $348,625 (2.2%) $437,454 (16.5%) 0.00 273
    2019-05-01 $349,950 (2.0%) $432,470 (6.9%) 0.00 295
    2019-06-01 $349,900 (0.0%) $427,421 (7.2%) 0.00 324
    2019-07-01 $339,900 (-2.2%) $417,556 (6.0%) 0.00 337
    2019-08-01 $335,691 (-2.1%) $404,808 (3.9%) 0.00 363
    2019-09-01 $329,677 (-5.5%) $403,018 (1.9%) 0.00 363
    2019-10-01 $328,168 (-5.2%) $408,626 (1.9%) 0.00 345
    2019-11-01 $322,900 (-5.6%) $405,677 (1.7%) 0.00 312
    2019-12-01 $329,450 (-1.6%) $404,294 (1.7%) 0.00 299
    2020-01-01 $339,900 (3.4%) $430,022 (5.6%) 0.00 259
    2020-02-01 $339,250 (2.7%) $432,102 (0.5%) 0.00 239
    2020-03-01 $336,700 (-1.2%) $413,537 (-4.4%) 0.00 213
    2020-04-01 $347,200 (-0.4%) $417,010 (-4.7%) 0.00 254
    2020-05-01 $349,900 (0.0%) $426,478 (-1.4%) 0.00 227
    2020-06-01 $366,196 (4.7%) $467,308 (9.3%) 0.00 179
    2020-07-01 $373,900 (10.0%) $449,845 (7.7%) 0.00 186
    2020-08-01 $386,450 (15.1%) $467,502 (15.5%) 0.00 166
    2020-09-01 $381,163 (15.6%) $485,820 (20.6%) 0.00 139
    2020-10-01 $374,900 (14.2%) $480,999 (17.7%) 0.00 148
    2020-11-01 $388,850 (20.4%) $514,382 (26.8%) 0.00 122
    2020-12-01 $391,950 (19.0%) $522,329 (29.2%) 0.00 112
    2021-01-01 $391,900 (15.3%) $494,769 (15.1%) 0.00 103
    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%) $523,588 (22.8%) 0.00 111
    2021-06-01 $410,725 (12.2%) $509,679 (9.1%) 0.00 124
    2021-07-01 $399,900 (7.0%) $509,222 (13.2%) 0.00 136
    2021-08-01 $404,900 (4.8%) $493,923 (5.7%) 0.00 170
    2021-09-01 $399,500 (4.8%) $471,002 (-3.1%) 0.00 186
    2021-10-01 $419,900 (12.0%) $494,554 (2.8%) 0.00 193
    2021-11-01 $422,863 (8.8%) $534,419 (3.9%) 0.00 175
    2021-12-01 $418,725 (6.8%) $528,174 (1.1%) 0.00 150
    2022-01-01 $423,925 (8.2%) $541,167 (9.4%) 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 $440,000 (32.4%) $598,142 (24.4%) 0.00 117
    2022-05-01 $420,900 (6.6%) $579,693 (10.7%) 0.00 160
    2022-06-01 $419,900 (2.2%) $571,270 (12.1%) 0.00 191
    2022-07-01 $425,000 (6.3%) $573,708 (12.7%) 0.00 258
    2022-08-01 $428,550 (5.8%) $572,079 (15.8%) 0.00 272
    2022-09-01 $424,900 (6.4%) $551,487 (17.1%) 0.00 280
    2022-10-01 $436,000 (3.8%) $572,855 (15.8%) 0.00 275
    2022-11-01 $438,475 (3.7%) $569,117 (6.5%) 0.00 269
    2022-12-01 $422,450 (0.9%) $548,943 (3.9%) 0.00 275
    2023-01-01 $419,900 (-1.0%) $534,089 (-1.3%) 0.00 244
    2023-02-01 $424,950 (1.3%) $535,001 (-4.2%) 0.00 219
    2023-03-01 $422,450 (-1.8%) $542,929 (-5.4%) 0.00 204
    2023-04-01 $419,950 (-4.6%) $541,760 (-9.4%) 0.00 187
    2023-05-01 $429,450 (2.0%) $568,014 (-2.0%) 0.00 202
    2023-06-01 $462,000 (10.0%) $598,041 (4.7%) 0.00 215
    2023-07-01 $449,900 (5.9%) $607,520 (5.9%) 0.00 237
    2023-08-01 $449,950 (5.0%) $622,812 (8.9%) 0.00 252
    2023-09-01 $469,900 (10.6%) $613,186 (11.2%) 0.00 270
    2023-10-01 $469,950 (7.8%) $619,877 (8.2%) 0.00 262
    Albany's median listing price for 2023-10-01 was $469,950, a difference of $33,950 (7.8%) versus the prior year and $50 versus the prior month.

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

    Albany's average listing price for 2023-10-01 was $619,877, a difference of $47,022 (8.2%) versus the prior year and $6,691 versus the prior month.

    For the 2023-10-01 period, Albany had 262 MLS listings, a difference of -8 listings (-3%) versus the prior month and -13 listings (-5%) 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 1,858 sqft
    2018-08-01 0 days 1,863 sqft
    2018-09-01 0 days 1,870 sqft
    2018-10-01 0 days 1,844 sqft
    2018-11-01 0 days 1,837 sqft
    2018-12-01 0 days 1,821 sqft
    2019-01-01 0 days 1,819 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 1,831 sqft
    2019-07-01 0 days 1,782 sqft
    2019-08-01 0 days 1,728 sqft
    2019-09-01 0 days 1,735 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 1,906 sqft
    2020-07-01 0 days 1,885 sqft
    2020-08-01 0 days 1,998 sqft
    2020-09-01 0 days 1,863 sqft
    2020-10-01 0 days 1,845 sqft
    2020-11-01 0 days 1,776 sqft
    2020-12-01 0 days 1,759 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 1,722 sqft
    2021-06-01 0 days 1,709 sqft
    2021-07-01 0 days 1,672 sqft
    2021-08-01 0 days 1,711 sqft
    2021-09-01 0 days 1,644 sqft
    2021-10-01 0 days 1,681 sqft
    2021-11-01 0 days 1,748 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 1,673 sqft
    2022-05-01 0 days 1,663 sqft
    2022-06-01 0 days 1,652 sqft
    2022-07-01 0 days 1,675 sqft
    2022-08-01 0 days 1,647 sqft
    2022-09-01 0 days 1,623 sqft
    2022-10-01 0 days 1,649 sqft
    2022-11-01 0 days 1,652 sqft
    2022-12-01 0 days 1,645 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
    Albany's median listing age (time on market) for 2023-10-01 was 0 days.

    Albany's median square footage for active listings during the 2023-10-01 period was 1,820 sqft. One year prior, the average listing was 1,649 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.