Alexandria VA Loan Rates, Closing Costs & Stats

ALEXANDRIA, LA

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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.

    Alexandria's 40 lenders originated 209 VA loans during 2023. The total origination value was $49,405,000, with an average VA loan value of $236,388.

    Alexandria VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Alexandria averaged -0.08% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Alexandria's average VA mortgage closing costs are $4,980.

    The average rate for the prior week (2024-11-08) was 6.63% and one month ago for the week of 2024-10-11, the average rate was 6.09%.

    The average rate one year ago was 7.38%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Alexandria 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 Alexandria level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 36 6.84% $6,150
    Red River Bank 21 6.11% $3,485
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 20 6.77% $6,366
    PRIMARY RESIDENTIAL MORTGAGE, INC. 15 6.97% $4,296
    NAVY FEDERAL CREDIT UNION 13 5.76% $3,520
    UNITED WHOLESALE MORTGAGE, LLC 11 6.91% $7,837
    DHI MORTGAGE COMPANY, LTD. 9 5.47% $5,674
    QUICKEN LOANS, LLC 8 5.93% $6,103
    GMFS LLC 8 6.31% $6,239
    PENTAGON FEDERAL CREDIT UNION 5 5.58% $4,491
    USAA Federal Savings Bank 5 6.75% $5,308
    HOMESIDE FINANCIAL, LLC 5 7.00% $8,230
    FREEDOM MORTGAGE CORPORATION 4 6.88% $8,358
    Equity Prime Mortgage LLC 3 7.33% $9,736
    AMERICAN FINANCIAL RESOURCES, INC. 3 7.08% $4,814
    JPMorgan Chase Bank 2 5.68% $9,568
    Plains Commerce Bank 2 6.31% $6,529
    PENNYMAC LOAN SERVICES, LLC 2 6.25% $6,413
    LOANDEPOT.COM, LLC 2 6.06% $16,049
    U.S. Bank 2 6.63% $1,404
    AMERISAVE MORTGAGE CORPORATION 2 4.94% $23,053
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 8.00% $400
    NEW DAY FINANCIAL, LLC 2 7.19% $9,755
    VILLAGE CAPITAL MORTGAGE 1 6.75% $5,370
    BancorpSouth 1 6.63% $0
    Barrington Bank & Trust Company, N.A. 1 7.25% $11,369
    BROKER SOLUTIONS, INC. 1 6.75% $6,259
    CRESCENT MORTGAGE COMPANY 1 7.13% $242
    CROSSCOUNTRY MORTGAGE, LLC 1 7.13% $8,447
    MIDLAND MORTGAGE CORPORATION 1 6.25% $5,607
    Nations Lending Corporation 1 6.25% $6,374
    NEWREZ LLC 1 5.75% $6,469
    PLANET HOME LENDING, LLC 1 7.25% $1,844
    Regions Bank 1 7.25% $8,920
    Sabine State Bank and Trust Company 1 6.75% $5,038
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 7.25% $13,400
    STANDARD MORTGAGE CORPORATION 1 6.50% $14,196
    Towne Bank 1 6.13% $8,788
    TOWNE MORTGAGE COMPANY 1 7.13% $13,207
    AMCAP MORTGAGE, LTD. 1 6.13% $4,258

    The top Alexandria VA lender as defined by loan originations is Mortgage Research Center, LLC, with 36 VA loans originated. Their average total fees are $6,150, which is $2,665 higher than the next largest lender, Red River Bank.

    The lowest fee Alexandria VA lenders (with over 10 loans originated) are Red River Bank ($3,485), NAVY FEDERAL CREDIT UNION ($3,520), PRIMARY RESIDENTIAL MORTGAGE, INC. ($4,296), Mortgage Research Center, LLC ($6,150) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,366).

    The lowest rate Alexandria VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.76%), Red River Bank (6.11%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.77%), Mortgage Research Center, LLC (6.84%) and UNITED WHOLESALE MORTGAGE, LLC (6.91%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Alexandria (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 $187,000 (1.5%) $234,350 (6.8%) 0.69 462
    2018-02-01 $189,700 (8.3%) $237,121 (7.7%) 0.69 472
    2018-03-01 $184,500 (5.4%) $229,224 (3.7%) 0.65 469
    2018-04-01 $182,000 (4.0%) $222,882 (2.6%) 0.62 489
    2018-05-01 $179,850 (2.2%) $219,882 (-2.4%) 0.60 499
    2018-06-01 $180,000 (0.2%) $220,272 (-4.7%) 0.60 528
    2018-07-01 $179,000 (0.7%) $219,806 (-6.0%) 0.60 537
    2018-08-01 $179,000 (-0.5%) $223,443 (-5.6%) 0.60 523
    2018-09-01 $180,000 (-0.4%) $225,669 (-5.9%) 0.61 538
    2018-10-01 $179,700 (-0.1%) $223,787 (-6.5%) 0.61 526
    2018-11-01 $174,975 (-3.2%) $215,347 (-8.8%) 0.59 523
    2018-12-01 $174,950 (-2.8%) $218,089 (-5.3%) 0.60 491
    2019-01-01 $179,700 (-3.9%) $226,000 (-3.6%) 0.62 470
    2019-02-01 $182,850 (-3.6%) $223,305 (-5.8%) 0.62 470
    2019-03-01 $188,214 (2.0%) $226,259 (-1.3%) 0.62 462
    2019-04-01 $195,675 (7.5%) $232,977 (4.5%) 0.62 461
    2019-05-01 $194,000 (7.9%) $234,672 (6.7%) 0.61 485
    2019-06-01 $199,900 (11.1%) $234,835 (6.6%) 0.62 527
    2019-07-01 $199,250 (11.3%) $230,867 (5.0%) 0.62 533
    2019-08-01 $194,491 (8.7%) $229,395 (2.7%) 0.62 516
    2019-09-01 $188,027 (4.5%) $229,633 (1.8%) 0.60 496
    2019-10-01 $186,918 (4.0%) $230,034 (2.8%) 0.60 481
    2019-11-01 $186,000 (6.3%) $226,779 (5.3%) 0.61 447
    2019-12-01 $179,900 (2.8%) $222,794 (2.2%) 0.60 467
    2020-01-01 $179,923 (0.1%) $217,930 (-3.6%) 0.60 459
    2020-02-01 $184,642 (1.0%) $217,608 (-2.6%) 0.60 477
    2020-03-01 $188,700 (0.3%) $226,675 (0.2%) 0.59 405
    2020-04-01 $189,900 (-3.0%) $230,032 (-1.3%) 0.59 368
    2020-05-01 $199,075 (2.6%) $244,151 (4.0%) 0.61 320
    2020-06-01 $214,475 (7.3%) $253,478 (7.9%) 0.63 286
    2020-07-01 $218,250 (9.5%) $260,046 (12.6%) 0.63 279
    2020-08-01 $219,250 (12.7%) $257,685 (12.3%) 0.63 286
    2020-09-01 $225,000 (19.7%) $266,897 (16.2%) 0.64 243
    2020-10-01 $231,900 (24.1%) $275,747 (19.9%) 0.66 235
    2020-11-01 $221,750 (19.2%) $267,526 (18.0%) 0.65 238
    2020-12-01 $216,200 (20.2%) $264,179 (18.6%) 0.64 237
    2021-01-01 $210,000 (16.7%) $266,687 (22.4%) 0.63 211
    2021-02-01 $208,750 (13.1%) $269,592 (23.9%) 0.61 186
    2021-03-01 $183,425 (-2.8%) $245,878 (8.5%) 0.52 158
    2021-04-01 $162,425 (-14.5%) $236,108 (2.6%) 0.44 150
    2021-05-01 $159,850 (-19.7%) $235,660 (-3.5%) 0.42 128
    2021-06-01 $173,425 (-19.1%) $253,156 (-0.1%) 0.46 158
    2021-07-01 $179,900 (-17.6%) $244,343 (-6.0%) 0.47 179
    2021-08-01 $176,400 (-19.5%) $232,226 (-9.9%) 0.47 180
    2021-09-01 $167,250 (-25.7%) $221,800 (-16.9%) 0.45 202
    2021-10-01 $169,950 (-26.7%) $224,631 (-18.5%) 0.45 192
    2021-11-01 $185,000 (-16.6%) $234,831 (-12.2%) 0.49 179
    2021-12-01 $185,000 (-14.4%) $230,580 (-12.7%) 0.50 180
    2022-01-01 $185,000 (-11.9%) $226,433 (-15.1%) 0.50 172
    2022-02-01 $187,750 (-10.1%) $233,677 (-13.3%) 0.49 170
    2022-03-01 $191,000 (4.1%) $233,146 (-5.2%) 0.48 156
    2022-04-01 $210,750 (29.8%) $239,507 (1.4%) 0.50 166
    2022-05-01 $222,950 (39.5%) $265,849 (12.8%) 0.51 199
    2022-06-01 $226,950 (30.9%) $273,374 (8.0%) 0.51 228
    2022-07-01 $224,900 (25.0%) $264,926 (8.4%) 0.51 261
    2022-08-01 $227,250 (28.8%) $273,258 (17.7%) 0.53 270
    2022-09-01 $220,475 (31.8%) $270,685 (22.0%) 0.52 268
    2022-10-01 $219,950 (29.4%) $266,309 (18.6%) 0.52 263
    2022-11-01 $222,000 (20.0%) $260,764 (11.0%) 0.53 268
    2022-12-01 $219,000 (18.4%) $253,342 (9.9%) 0.54 273
    2023-01-01 $201,213 (8.8%) $246,904 (9.0%) 0.50 262
    2023-02-01 $205,259 (9.3%) $250,462 (7.2%) 0.50 270
    2023-03-01 $209,000 (9.4%) $250,350 (7.4%) 0.49 272
    2023-04-01 $219,900 (4.3%) $256,745 (7.2%) 0.51 265
    2023-05-01 $222,625 (-0.2%) $268,425 (1.0%) 0.50 287
    2023-06-01 $235,350 (3.7%) $274,191 (0.3%) 0.53 301
    2023-07-01 $223,000 (-0.8%) $264,040 (-0.3%) 0.51 302
    2023-08-01 $220,000 (-3.2%) $253,154 (-7.4%) 0.51 353
    2023-09-01 $219,250 (-0.6%) $248,479 (-8.2%) 0.51 358
    2023-10-01 $222,250 (1.1%) $250,979 (-5.8%) 0.52 355
    2023-11-01 $229,250 (3.3%) $255,075 (-2.2%) 0.55 363
    2023-12-01 $224,900 (2.7%) $257,097 (1.5%) 0.55 370
    2024-01-01 $229,475 (14.1%) $262,481 (6.3%) 0.56 361
    2024-02-01 $229,000 (11.6%) $259,809 (3.7%) 0.55 362
    2024-03-01 $234,900 (12.4%) $269,101 (7.5%) 0.55 363
    2024-04-01 $235,000 (6.9%) $273,001 (6.3%) 0.55 368
    2024-05-01 $231,925 (4.2%) $274,766 (2.4%) 0.52 398
    2024-06-01 $229,900 (-2.3%) $269,564 (-1.7%) 0.52 426
    2024-07-01 $232,450 (4.2%) $277,624 (5.1%) 0.53 395
    2024-08-01 $229,950 (4.5%) $280,393 (10.8%) 0.53 374
    2024-09-01 $224,725 (2.5%) $272,989 (9.9%) 0.53 377
    2024-10-01 $229,900 (3.4%) $279,514 (11.4%) 0.54 377
    Alexandria's median listing price for 2024-10-01 was $229,900, a difference of $7,650 (3.4%) versus the prior year and $5,175 versus the prior month.

    Alexandria's median listing price comes in at 54% of the national average.

    Alexandria's average listing price for 2024-10-01 was $279,514, a difference of $28,535 (11.4%) versus the prior year and $6,525 versus the prior month.

    For the 2024-10-01 period, Alexandria had 377 MLS listings, a difference of 0 listings (0%) versus the prior month and 22 listings (6%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Alexandria (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 90 days 1,982 sqft
    2018-02-01 93 days 2,000 sqft
    2018-03-01 86 days 1,969 sqft
    2018-04-01 75 days 1,920 sqft
    2018-05-01 71 days 1,880 sqft
    2018-06-01 72 days 1,869 sqft
    2018-07-01 72 days 1,850 sqft
    2018-08-01 77 days 1,865 sqft
    2018-09-01 86 days 1,890 sqft
    2018-10-01 86 days 1,893 sqft
    2018-11-01 90 days 1,887 sqft
    2018-12-01 96 days 1,870 sqft
    2019-01-01 101 days 1,897 sqft
    2019-02-01 95 days 1,905 sqft
    2019-03-01 88 days 1,910 sqft
    2019-04-01 75 days 1,939 sqft
    2019-05-01 65 days 1,952 sqft
    2019-06-01 65 days 1,977 sqft
    2019-07-01 68 days 1,954 sqft
    2019-08-01 73 days 1,940 sqft
    2019-09-01 80 days 1,920 sqft
    2019-10-01 86 days 1,906 sqft
    2019-11-01 86 days 1,885 sqft
    2019-12-01 88 days 1,851 sqft
    2020-01-01 91 days 1,851 sqft
    2020-02-01 87 days 1,851 sqft
    2020-03-01 72 days 1,868 sqft
    2020-04-01 84 days 1,881 sqft
    2020-05-01 85 days 1,919 sqft
    2020-06-01 92 days 1,917 sqft
    2020-07-01 68 days 1,965 sqft
    2020-08-01 50 days 1,949 sqft
    2020-09-01 62 days 2,007 sqft
    2020-10-01 72 days 2,030 sqft
    2020-11-01 71 days 2,008 sqft
    2020-12-01 81 days 2,028 sqft
    2021-01-01 81 days 2,000 sqft
    2021-02-01 76 days 2,006 sqft
    2021-03-01 58 days 1,829 sqft
    2021-04-01 57 days 1,830 sqft
    2021-05-01 49 days 1,767 sqft
    2021-06-01 32 days 1,795 sqft
    2021-07-01 38 days 1,801 sqft
    2021-08-01 45 days 1,758 sqft
    2021-09-01 46 days 1,751 sqft
    2021-10-01 59 days 1,750 sqft
    2021-11-01 66 days 1,809 sqft
    2021-12-01 63 days 1,816 sqft
    2022-01-01 69 days 1,825 sqft
    2022-02-01 61 days 1,815 sqft
    2022-03-01 53 days 1,769 sqft
    2022-04-01 50 days 1,773 sqft
    2022-05-01 46 days 1,823 sqft
    2022-06-01 40 days 1,889 sqft
    2022-07-01 38 days 1,887 sqft
    2022-08-01 58 days 1,849 sqft
    2022-09-01 63 days 1,826 sqft
    2022-10-01 61 days 1,835 sqft
    2022-11-01 68 days 1,815 sqft
    2022-12-01 75 days 1,816 sqft
    2023-01-01 80 days 1,810 sqft
    2023-02-01 74 days 1,833 sqft
    2023-03-01 67 days 1,847 sqft
    2023-04-01 69 days 1,849 sqft
    2023-05-01 67 days 1,917 sqft
    2023-06-01 63 days 1,922 sqft
    2023-07-01 57 days 1,881 sqft
    2023-08-01 53 days 1,860 sqft
    2023-09-01 54 days 1,833 sqft
    2023-10-01 66 days 1,866 sqft
    2023-11-01 68 days 1,895 sqft
    2023-12-01 75 days 1,876 sqft
    2024-01-01 81 days 1,885 sqft
    2024-02-01 81 days 1,862 sqft
    2024-03-01 70 days 1,870 sqft
    2024-04-01 65 days 1,869 sqft
    2024-05-01 54 days 1,860 sqft
    2024-06-01 57 days 1,867 sqft
    2024-07-01 66 days 1,907 sqft
    2024-08-01 66 days 1,947 sqft
    2024-09-01 72 days 1,878 sqft
    2024-10-01 77 days 1,943 sqft
    Alexandria's median listing age (time on market) for 2024-10-01 was 77 days. This is 16% longer than the same period one year ago.

    Alexandria's median square footage for active listings during the 2024-10-01 period was 1,943 sqft. One year prior, the average listing was 1,866 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.