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 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 6.63% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.86% and one month ago for the week of 2024-03-15, the average rate was 6.32%.

    The average rate one year ago was 5.91%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

    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
    Albany's median listing price for 2024-03-01 was $464,999, a difference of $43,799 (10.4%) versus the prior year and $99 versus the prior month.

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

    Albany's average listing price for 2024-03-01 was $593,502, a difference of $50,614 (9.3%) versus the prior year and $15,572 versus the prior month.

    For the 2024-03-01 period, Albany had 212 MLS listings, a difference of -4 listings (-2%) versus the prior month and 9 listings (4%) 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
    Albany's median listing age (time on market) for 2024-03-01 was 0 days.

    Albany's median square footage for active listings during the 2024-03-01 period was 1,716 sqft. One year prior, the average listing was 1,678 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.