Altoona VA Loans

ALTOONA, PA

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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 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.

    Altoona's 46 lenders originated 278 VA loans during 2021. The total origination value was $51,760,000, with an average VA loan value of $186,187.

    Altoona VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Altoona averaged 5.21% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.44% and one month ago for the week of 2022-04-08, the average rate was 4.86%.

    The average rate one year ago was 2.98%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.15%.

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

    Altoona VA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Altoona level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 32 2.88% $4,950
    QUICKEN LOANS, LLC 27 2.57% $4,347
    NEW DAY FINANCIAL, LLC 15 2.87% $5,194
    EQUITY RESOURCES, INC. 15 2.46% $5,203
    FREEDOM MORTGAGE CORPORATION 14 2.54% $1,680
    NAVY FEDERAL CREDIT UNION 9 2.46% $3,821
    VILLAGE CAPITAL & INVESTMENT LLC 8 2.39% $2,614
    PENNYMAC LOAN SERVICES, LLC 8 2.59% $4,278
    Mr. Cooper ( Nationstar Mortgage ) 7 2.82% $3,474
    Citizens Bank 7 2.68% $4,827
    USAA Federal Savings Bank 6 2.73% $4,572
    UNITED WHOLESALE MORTGAGE, LLC 6 2.77% $5,613
    Flagstar Bank, FSB 6 2.35% $9,199
    Low VA Rates, LLC 5 2.43% $2,963
    Wells Fargo Bank 5 2.68% $3,606
    LAKEVIEW LOAN SERVICING, LLC 4 2.75% $3,653
    LOANDEPOT.COM, LLC 4 2.84% $5,135
    NORWICH COMMERCIAL GROUP, INC. 4 3.75% $7,656
    First Federal Bank 4 3.16% $12,681
    Barrington Bank & Trust Company, N.A. 4 3.16% $4,378
    The Federal Savings Bank 3 2.54% $4,713
    NEWREZ LLC 3 2.63% $3,429
    PENTAGON FEDERAL CREDIT UNION 2 2.25% $6,630
    CLEARPATH LENDING 2 2.50% $2,700
    HOME POINT FINANCIAL CORPORATION 2 3.06% $9,874
    MCLEAN MORTGAGE CORPORATION 2 2.75% $4,349
    MICHIGAN MUTUAL, INC. 1 2.75% $0
    Meridian Bank Corporation 1 2.25% $3,421
    MOVEMENT MORTGAGE, LLC 1 2.75% $310
    MEMBER FIRST MORTGAGE, LLC 1 3.13% $8,285
    Integrity Home Mortgage Corp 1 3.00% $3,989
    FIRST HERITAGE FINANCIAL, LLC 1 2.63% $9,801
    First Commonwealth Bank 1 2.75% $6,040
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.99% $6,129
    C & F Mortgage Corporation 1 3.25% $2,603
    ACCELERATE MORTGAGE, LLC 1 1.75% $8,008
    PLANET HOME LENDING, LLC 1 2.88% $1,005
    CALIBER HOME LOANS, INC. 1 2.25% $1,855
    SUN WEST MORTGAGE COMPANY, INC. 1 2.25% $4,299
    CALCON MUTUAL MORTGAGE LLC 1 3.75% $17,696
    TJC Mortgage, Inc. 1 2.25% $4,199
    TOWNE MORTGAGE COMPANY 1 3.25% $9,229
    AMERISAVE MORTGAGE CORPORATION 1 2.50% $5,826
    AmeriHome Mortgage Company, LLC 1 2.50% $4,399
    AMERICAN FINANCIAL RESOURCES, INC. 1 2.75% $3,964
    ALLIED MORTGAGE GROUP, INC. 1 2.50% $2,019

    The top Altoona VA lender as defined by loan originations is Mortgage Research Center, LLC, with 32 VA loans originated. Their average total fees are $4,950, which is $603 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Altoona VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($1,680), QUICKEN LOANS, LLC ($4,347), Mortgage Research Center, LLC ($4,950), NEW DAY FINANCIAL, LLC ($5,194) and EQUITY RESOURCES, INC. ($5,203).

    The lowest rate Altoona VA lenders (with over 10 loans originated) are EQUITY RESOURCES, INC. (2.46%), FREEDOM MORTGAGE CORPORATION (2.54%), QUICKEN LOANS, LLC (2.57%), NEW DAY FINANCIAL, LLC (2.87%) and Mortgage Research Center, LLC (2.88%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Altoona (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 $138,900 (20.8%) $210,366 (11.9%) 0.00 346
    2018-02-01 $137,950 (20.0%) $205,966 (8.2%) 0.00 342
    2018-03-01 $138,000 (8.3%) $208,985 (0.6%) 0.00 334
    2018-04-01 $139,925 (7.7%) $213,197 (3.8%) 0.00 312
    2018-05-01 $139,975 (1.8%) $189,066 (-8.7%) 0.00 343
    2018-06-01 $140,000 (0.1%) $188,714 (-13.6%) 0.00 355
    2018-07-01 $139,900 (0.0%) $187,519 (-13.1%) 0.00 374
    2018-08-01 $139,925 (0.7%) $185,899 (-14.0%) 0.00 377
    2018-09-01 $138,000 (2.3%) $187,402 (-10.9%) 0.00 369
    2018-10-01 $133,250 (2.5%) $182,474 (-8.7%) 0.00 380
    2018-11-01 $129,000 (-0.7%) $173,747 (-10.2%) 0.00 378
    2018-12-01 $125,000 (-4.6%) $173,593 (-15.2%) 0.00 344
    2019-01-01 $127,450 (-8.2%) $178,499 (-15.2%) 0.00 322
    2019-02-01 $127,950 (-7.3%) $180,371 (-12.4%) 0.00 323
    2019-03-01 $131,529 (-4.7%) $180,407 (-13.7%) 0.00 318
    2019-04-01 $137,400 (-1.8%) $183,715 (-13.8%) 0.00 319
    2019-05-01 $137,400 (-1.8%) $185,303 (-2.0%) 0.00 357
    2019-06-01 $134,900 (-3.6%) $181,160 (-4.0%) 0.00 381
    2019-07-01 $134,700 (-3.7%) $177,653 (-5.3%) 0.00 391
    2019-08-01 $132,586 (-5.3%) $178,562 (-4.0%) 0.00 389
    2019-09-01 $129,700 (-6.0%) $177,416 (-5.3%) 0.00 395
    2019-10-01 $129,200 (-3.0%) $175,622 (-3.8%) 0.00 408
    2019-11-01 $126,000 (-2.3%) $181,479 (4.5%) 0.00 390
    2019-12-01 $124,975 (0.0%) $179,661 (3.5%) 0.00 384
    2020-01-01 $126,950 (-0.4%) $180,077 (0.9%) 0.00 360
    2020-02-01 $125,000 (-2.3%) $175,702 (-2.6%) 0.00 340
    2020-03-01 $127,000 (-3.4%) $177,974 (-1.4%) 0.00 330
    2020-04-01 $130,000 (-5.4%) $185,747 (1.1%) 0.00 319
    2020-05-01 $139,900 (1.8%) $195,074 (5.3%) 0.00 321
    2020-06-01 $137,200 (1.7%) $187,408 (3.5%) 0.00 296
    2020-07-01 $149,900 (11.3%) $192,882 (8.6%) 0.00 277
    2020-08-01 $149,000 (12.4%) $197,172 (10.4%) 0.00 271
    2020-09-01 $145,000 (11.8%) $191,866 (8.1%) 0.00 263
    2020-10-01 $144,900 (12.2%) $191,354 (9.0%) 0.00 264
    2020-11-01 $145,000 (15.1%) $204,103 (12.5%) 0.00 219
    2020-12-01 $149,450 (19.6%) $203,151 (13.1%) 0.00 198
    2021-01-01 $145,900 (14.9%) $205,114 (13.9%) 0.00 196
    2021-02-01 $145,450 (16.4%) $192,026 (9.3%) 0.00 175
    2021-03-01 $149,900 (18.0%) $197,841 (11.2%) 0.00 156
    2021-04-01 $158,500 (21.9%) $201,146 (8.3%) 0.00 142
    2021-05-01 $150,000 (7.2%) $194,742 (-0.2%) 0.00 128
    2021-06-01 $157,000 (14.4%) $198,101 (5.7%) 0.00 141
    2021-07-01 $160,000 (6.7%) $199,407 (3.4%) 0.00 157
    2021-08-01 $149,900 (0.6%) $189,638 (-3.8%) 0.00 167
    2021-09-01 $149,950 (3.4%) $188,103 (-2.0%) 0.00 170
    2021-10-01 $149,900 (3.5%) $200,753 (4.9%) 0.00 170
    2021-11-01 $152,950 (5.5%) $218,451 (7.0%) 0.00 163
    2021-12-01 $140,000 (-6.3%) $205,565 (1.2%) 0.00 157
    2022-01-01 $144,900 (-0.7%) $209,682 (2.2%) 0.00 138
    2022-02-01 $143,450 (-1.4%) $208,470 (8.6%) 0.00 128
    2022-03-01 $145,950 (-2.6%) $217,901 (10.1%) 0.00 108
    2022-04-01 $149,900 (-5.4%) $227,696 (13.2%) 0.00 106
    Altoona's median listing price for 2022-04-01 was $149,900, a difference of $-8,600 (-5.4%) versus the prior year and $3,950 versus the prior month.

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

    Altoona's average listing price for 2022-04-01 was $227,696, a difference of $26,550 (13.2%) versus the prior year and $9,795 versus the prior month.

    For the 2022-04-01 period, Altoona had 106 MLS listings, a difference of -2 listings (-2%) versus the prior month and -36 listings (-25%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Altoona (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,020 sqft
    2018-02-01 0 days 1,901 sqft
    2018-03-01 0 days 1,900 sqft
    2018-04-01 0 days 1,843 sqft
    2018-05-01 0 days 1,788 sqft
    2018-06-01 0 days 1,828 sqft
    2018-07-01 0 days 1,745 sqft
    2018-08-01 0 days 1,728 sqft
    2018-09-01 0 days 1,800 sqft
    2018-10-01 0 days 1,737 sqft
    2018-11-01 0 days 1,684 sqft
    2018-12-01 0 days 1,700 sqft
    2019-01-01 0 days 1,729 sqft
    2019-02-01 0 days 1,740 sqft
    2019-03-01 0 days 1,782 sqft
    2019-04-01 0 days 1,800 sqft
    2019-05-01 0 days 1,873 sqft
    2019-06-01 0 days 1,805 sqft
    2019-07-01 0 days 1,848 sqft
    2019-08-01 0 days 1,892 sqft
    2019-09-01 0 days 1,907 sqft
    2019-10-01 0 days 1,795 sqft
    2019-11-01 0 days 1,826 sqft
    2019-12-01 0 days 1,816 sqft
    2020-01-01 0 days 1,798 sqft
    2020-02-01 0 days 1,800 sqft
    2020-03-01 0 days 1,740 sqft
    2020-04-01 0 days 1,734 sqft
    2020-05-01 0 days 1,800 sqft
    2020-06-01 0 days 1,793 sqft
    2020-07-01 0 days 1,878 sqft
    2020-08-01 0 days 1,860 sqft
    2020-09-01 0 days 1,736 sqft
    2020-10-01 0 days 1,758 sqft
    2020-11-01 0 days 1,718 sqft
    2020-12-01 0 days 1,713 sqft
    2021-01-01 0 days 1,784 sqft
    2021-02-01 0 days 1,897 sqft
    2021-03-01 0 days 2,040 sqft
    2021-04-01 0 days 1,988 sqft
    2021-05-01 0 days 1,824 sqft
    2021-06-01 0 days 1,853 sqft
    2021-07-01 0 days 1,882 sqft
    2021-08-01 0 days 1,832 sqft
    2021-09-01 0 days 1,797 sqft
    2021-10-01 0 days 1,732 sqft
    2021-11-01 0 days 1,810 sqft
    2021-12-01 0 days 1,810 sqft
    2022-01-01 0 days 1,792 sqft
    2022-02-01 0 days 1,780 sqft
    2022-03-01 0 days 1,800 sqft
    2022-04-01 0 days 1,848 sqft
    Altoona's median listing age (time on market) for 2022-04-01 was 0 days.

    Altoona's median square footage for active listings during the 2022-04-01 period was 1,848 sqft. One year prior, the average listing was 1,988 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.