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 103 lenders originated 958 VA loans during 2021. The total origination value was $291,350,000, with an average VA loan value of $304,123.

    Albany VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Albany averaged 6.09% for the week of 2023-01-27, compared to the national average (all VA variants) of 5.952% for the same period.

    Albany's average VA mortgage closing costs are $6,218.

    The average rate for the prior week (2023-01-20) was 6.32% and one month ago for the week of 2022-12-23, the average rate was 6.49%.

    The average rate one year ago was 3.69%.

    For refis of the same type during the week of 2023-01-27, the average rate was 6.07%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    CALIBER HOME LOANS, INC. 73 2.59% $6,691
    FREEDOM MORTGAGE CORPORATION 66 2.44% $2,828
    Mortgage Research Center, LLC 66 2.86% $5,952
    QUICKEN LOANS, LLC 52 2.47% $4,651
    PENNYMAC LOAN SERVICES, LLC 43 2.51% $6,152
    LOANDEPOT.COM, LLC 34 2.77% $6,495
    NATIONS DIRECT MORTGAGE, LLC 29 2.54% $7,316
    MOVEMENT MORTGAGE, LLC 25 2.88% $7,454
    NEW DAY FINANCIAL, LLC 24 2.76% $7,830
    LAKEVIEW LOAN SERVICING, LLC 22 2.56% $2,947
    GUILD MORTGAGE COMPANY 21 2.70% $6,683
    The Federal Savings Bank 21 2.56% $12,944
    PACIFIC RESIDENTIAL MORTGAGE, LLC 20 3.05% $7,589
    USAA Federal Savings Bank 17 2.74% $4,727
    SUMMIT FUNDING, INC. 17 3.23% $11,212
    Umpqua Bank 14 2.82% $9,325
    LPMC, LLC 14 2.57% $5,793
    UNITED WHOLESALE MORTGAGE, LLC 14 2.61% $8,762
    CROSSCOUNTRY MORTGAGE, LLC 13 2.63% $11,372
    VILLAGE CAPITAL MORTGAGE 12 2.39% $2,880
    HOMEBRIDGE FINANCIAL SERVICES, INC. 12 2.58% $6,956
    NAVY FEDERAL CREDIT UNION 12 2.56% $8,613
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 10 2.89% $7,529
    Wells Fargo Bank 10 2.48% $3,955
    Sierra Pacific Mortgage Company, Inc. 9 2.69% $3,240
    HOME POINT FINANCIAL CORPORATION 9 2.68% $8,349
    BROKER SOLUTIONS, INC. 9 2.74% $7,937
    DIRECTORS MORTGAGE, INC. 9 3.01% $8,033
    FINANCE OF AMERICA MORTGAGE LLC 8 2.92% $6,326
    MANN FINANCIAL INC. 8 2.95% $9,398
    Mr. Cooper ( Nationstar Mortgage ) 8 2.91% $4,524
    ACADEMY MORTGAGE CORPORATION 8 3.31% $11,793
    GENEVA FINANCIAL, LLC 7 3.14% $10,607
    S1L, Inc. 7 2.94% $13,070
    STEARNS LENDING, LLC 6 2.54% $5,260
    NEWREZ LLC 6 2.48% $4,813
    Low VA Rates, LLC 5 2.35% $7,621
    AMERICAN FINANCING CORPORATION 5 2.33% $9,073
    CHURCHILL MORTGAGE CORPORATION 5 3.03% $7,672
    Carrington Mortgage Services, LLC 4 2.91% $5,870
    Commerce Home Mortgage, Inc. 4 2.81% $7,516
    PLANET HOME LENDING, LLC 4 2.63% $4,590
    CMG MORTGAGE, INC. 4 2.59% $7,711
    Willamette Valley Bank 3 2.75% $4,728
    ACCELERATE MORTGAGE, LLC 3 2.08% $3,859
    AMERICAN FINANCIAL NETWORK, INC. 3 2.33% $6,513
    AMERISAVE MORTGAGE CORPORATION 3 2.58% $3,223
    Barrington Bank & Trust Company, N.A. 3 2.46% $7,156
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 2.71% $9,005
    CLEARPATH LENDING 3 2.25% $5,178
    Flagstar Bank, FSB 3 2.67% $4,738
    InterContinental Capital Group, Inc 3 2.25% $4,554
    SUN WEST MORTGAGE COMPANY, INC. 3 2.33% $5,295
    TJC Mortgage, Inc. 3 2.29% $4,152
    Nations Lending Corporation 2 2.44% $9,350
    HOMESIDE FINANCIAL, LLC 2 2.37% $9,546
    NP, Inc. 2 2.25% $5,964
    CENTRAL WILLAMETTE Credit Union 2 2.88% $7,565
    PREMIER MORTGAGE RESOURCES, L.L.C. 2 2.50% $11,568
    NBKC BANK 2 2.56% $8,760
    Prosperity Home Mortgage, LLC 2 2.69% $11,849
    First Guaranty Mortgage Corporation 2 2.50% $6,794
    AMERICAN FINANCIAL RESOURCES, INC. 2 2.75% $6,080
    MUTUAL OF OMAHA MORTGAGE, INC. 2 2.56% $11,827
    BNC National Bank 2 2.31% $2,737
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.06% $6,443
    U.S. Bank 2 2.38% $7,484
    Bank of England 2 2.38% $5,123
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 2.75% $14,304
    Hometown Lenders, Inc. 2 3.19% $17,058
    PLAZA HOME MORTGAGE, INC. 1 2.88% $8,923
    Prime Choice Funding Inc. 1 2.38% $16,007
    EMBRACE HOME LOANS, INC. 1 2.88% $14,780
    RANLIFE, INC. 1 2.25% $3,388
    RELIANCE FIRST CAPITAL, LLC 1 2.88% $6,812
    Citizens Bank 1 3.00% $11,264
    CHERRY CREEK MORTGAGE, LLC 1 2.63% $23,683
    SOVEREIGN LENDING GROUP INCORPORATED 1 2.25% $1,565
    Century Mortgage Company DBA Century Lending Company 1 2.25% $8,146
    Summit Mortgage Corporation 1 2.50% $9,263
    SUMMIT MORTGAGE CORPORATION 1 2.25% $1,631
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.75% $4,314
    CELEBRITY HOME LOANS, LLC 1 3.38% $2,420
    CANOPY MORTGAGE, LLC 1 2.25% $3,112
    BAYSHORE MORTGAGE FUNDING, LLC 1 2.63% $2,599
    LOANPAL, LLC 1 2.25% $12,379
    Magnolia Bank 1 3.63% $23,895
    LEADERONE FINANCIAL CORPORATION 1 2.38% $3,227
    INTERCAP LENDING INC. 1 3.00% $4,212
    MID AMERICA MORTGAGE, INC. 1 2.25% $3,469
    MORTGAGE EXPRESS, LLC 1 3.00% $9,494
    HomeStreet Bank 1 2.75% $3,823
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.00% $20,702
    GUARANTEED RATE, INC. 1 2.63% $0
    GSF Mortgage Corporation 1 3.38% $775
    First Mortgage Solutions, LLC 1 2.37% $5,675
    North American Savings Bank, F.S.B. 1 2.50% $2,800
    NORTHWEST COMMUNITY 1 2.88% $13,151
    ON Q FINANCIAL, INC. 1 2.88% $5,689
    Paramount Residential Mortgage Group, Inc. 1 2.75% $5,233
    PENTAGON FEDERAL CREDIT UNION 1 2.25% $4,145
    Plains Commerce Bank 1 2.25% $2,143
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 3.50% $6,242

    The top Albany VA lender as defined by loan originations is CALIBER HOME LOANS, INC., with 73 VA loans originated. Their average total fees are $6,691, which is $3,863 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

    The lowest fee Albany VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,828), VILLAGE CAPITAL MORTGAGE ($2,880), LAKEVIEW LOAN SERVICING, LLC ($2,947), Wells Fargo Bank ($3,955) and QUICKEN LOANS, LLC ($4,651).

    The lowest rate Albany VA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (2.39%), FREEDOM MORTGAGE CORPORATION (2.44%), QUICKEN LOANS, LLC (2.47%), Wells Fargo Bank (2.48%) and PENNYMAC LOAN SERVICES, LLC (2.51%).

    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 (20.7%) 0.00 251
    2018-05-01 $343,125 (29.5%) $405,066 (29.5%) 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 $340,943 (2.4%) $432,677 (20.3%) 0.00 283
    2019-04-01 $349,000 (2.3%) $437,742 (16.5%) 0.00 273
    2019-05-01 $349,950 (2.0%) $432,495 (6.8%) 0.00 296
    2019-06-01 $349,900 (0.0%) $427,445 (7.2%) 0.00 325
    2019-07-01 $339,700 (-2.2%) $417,040 (5.8%) 0.00 338
    2019-08-01 $335,545 (-2.2%) $404,387 (3.8%) 0.00 364
    2019-09-01 $329,614 (-5.6%) $402,623 (1.8%) 0.00 365
    2019-10-01 $328,159 (-5.2%) $408,186 (1.8%) 0.00 347
    2019-11-01 $322,900 (-5.6%) $405,270 (1.6%) 0.00 315
    2019-12-01 $329,950 (-1.5%) $403,906 (1.6%) 0.00 302
    2020-01-01 $339,900 (3.4%) $429,291 (5.4%) 0.00 262
    2020-02-01 $339,500 (2.7%) $431,293 (0.3%) 0.00 242
    2020-03-01 $337,300 (-1.1%) $412,880 (-4.6%) 0.00 216
    2020-04-01 $347,850 (-0.3%) $416,421 (-4.9%) 0.00 257
    2020-05-01 $349,900 (0.0%) $425,707 (-1.6%) 0.00 230
    2020-06-01 $366,948 (4.9%) $465,715 (9.0%) 0.00 182
    2020-07-01 $375,050 (10.4%) $448,546 (7.6%) 0.00 189
    2020-08-01 $387,900 (15.6%) $465,830 (15.2%) 0.00 169
    2020-09-01 $382,925 (16.2%) $483,372 (20.1%) 0.00 142
    2020-10-01 $374,950 (14.3%) $478,805 (17.3%) 0.00 151
    2020-11-01 $389,225 (20.5%) $510,884 (26.1%) 0.00 125
    2020-12-01 $392,175 (18.9%) $518,368 (28.3%) 0.00 115
    2021-01-01 $391,900 (15.3%) $491,182 (14.4%) 0.00 106
    2021-02-01 $340,450 (0.3%) $443,375 (2.8%) 0.00 107
    2021-03-01 $316,250 (-6.2%) $440,249 (6.6%) 0.00 107
    2021-04-01 $332,375 (-4.5%) $478,191 (14.8%) 0.00 112
    2021-05-01 $395,000 (12.9%) $520,522 (22.3%) 0.00 114
    2021-06-01 $411,950 (12.3%) $506,718 (8.8%) 0.00 127
    2021-07-01 $399,900 (6.6%) $506,072 (12.8%) 0.00 139
    2021-08-01 $406,175 (4.7%) $491,759 (5.6%) 0.00 173
    2021-09-01 $399,999 (4.5%) $469,332 (-2.9%) 0.00 189
    2021-10-01 $419,900 (12.0%) $493,937 (3.2%) 0.00 196
    2021-11-01 $425,313 (9.3%) $533,287 (4.4%) 0.00 178
    2021-12-01 $421,425 (7.5%) $527,030 (1.7%) 0.00 153
    2022-01-01 $424,900 (8.4%) $537,062 (9.3%) 0.00 114
    2022-02-01 $417,450 (22.6%) $552,756 (24.7%) 0.00 108
    2022-03-01 $428,700 (35.6%) $568,213 (29.1%) 0.00 108
    2022-04-01 $435,000 (30.9%) $591,334 (23.7%) 0.00 120
    2022-05-01 $421,400 (6.7%) $575,874 (10.6%) 0.00 163
    2022-06-01 $419,900 (1.9%) $568,122 (12.1%) 0.00 194
    2022-07-01 $425,000 (6.3%) $571,716 (13.0%) 0.00 261
    2022-08-01 $428,400 (5.5%) $570,110 (15.9%) 0.00 275
    2022-09-01 $424,900 (6.2%) $549,605 (17.1%) 0.00 283
    2022-10-01 $434,400 (3.5%) $570,623 (15.5%) 0.00 278
    2022-11-01 $435,500 (2.4%) $567,177 (6.4%) 0.00 269
    2022-12-01 $420,000 (-0.3%) $547,059 (3.8%) 0.00 275
    Albany's median listing price for 2022-12-01 was $420,000, a difference of $-1,425 (-0.3%) versus the prior year and $-15,500 versus the prior month.

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

    Albany's average listing price for 2022-12-01 was $547,059, a difference of $20,029 (3.8%) versus the prior year and $-20,118 versus the prior month.

    For the 2022-12-01 period, Albany had 275 MLS listings, a difference of 6 listings (2%) versus the prior month and 122 listings (80%) 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 1,836 sqft
    2018-12-01 0 days 1,819 sqft
    2019-01-01 0 days 1,815 sqft
    2019-02-01 0 days 1,838 sqft
    2019-03-01 0 days 1,812 sqft
    2019-04-01 0 days 1,793 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 1,742 sqft
    2019-09-01 0 days 1,750 sqft
    2019-10-01 0 days 1,758 sqft
    2019-11-01 0 days 1,722 sqft
    2019-12-01 0 days 1,733 sqft
    2020-01-01 0 days 1,843 sqft
    2020-02-01 0 days 1,810 sqft
    2020-03-01 0 days 1,753 sqft
    2020-04-01 0 days 1,808 sqft
    2020-05-01 0 days 1,778 sqft
    2020-06-01 0 days 1,899 sqft
    2020-07-01 0 days 1,882 sqft
    2020-08-01 0 days 1,992 sqft
    2020-09-01 0 days 1,853 sqft
    2020-10-01 0 days 1,845 sqft
    2020-11-01 0 days 1,793 sqft
    2020-12-01 0 days 1,776 sqft
    2021-01-01 0 days 1,756 sqft
    2021-02-01 0 days 1,630 sqft
    2021-03-01 0 days 1,557 sqft
    2021-04-01 0 days 1,487 sqft
    2021-05-01 0 days 1,739 sqft
    2021-06-01 0 days 1,733 sqft
    2021-07-01 0 days 1,682 sqft
    2021-08-01 0 days 1,729 sqft
    2021-09-01 0 days 1,657 sqft
    2021-10-01 0 days 1,690 sqft
    2021-11-01 0 days 1,761 sqft
    2021-12-01 0 days 1,713 sqft
    2022-01-01 0 days 1,696 sqft
    2022-02-01 0 days 1,691 sqft
    2022-03-01 0 days 1,698 sqft
    2022-04-01 0 days 1,674 sqft
    2022-05-01 0 days 1,687 sqft
    2022-06-01 0 days 1,652 sqft
    2022-07-01 0 days 1,690 sqft
    2022-08-01 0 days 1,648 sqft
    2022-09-01 0 days 1,628 sqft
    2022-10-01 0 days 1,651 sqft
    2022-11-01 0 days 1,652 sqft
    2022-12-01 0 days 1,647 sqft
    Albany's median listing age (time on market) for 2022-12-01 was 0 days.

    Albany's median square footage for active listings during the 2022-12-01 period was 1,647 sqft. One year prior, the average listing was 1,713 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.