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 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.