Auburn VA Loan Rates, Closing Costs & Stats

AUBURN-OPELIKA, AL

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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.

    Auburn's 67 lenders originated 509 VA loans during 2023. The total origination value was $160,045,000, with an average VA loan value of $314,430.

    Auburn VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Auburn averaged 6.79% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Auburn's average VA mortgage closing costs are $5,767.

    The average rate for the prior week (2024-04-12) was 6.82% and one month ago for the week of 2024-03-15, the average rate was 6.78%.

    The average rate one year ago was 6.37%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.04%.

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

    Auburn 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 Auburn level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 62 6.71% $6,225
    CMG MORTGAGE, INC. 34 6.70% $9,902
    UNITED WHOLESALE MORTGAGE, LLC 27 6.44% $7,340
    Trustmark National Bank 26 5.98% $8,542
    NAVY FEDERAL CREDIT UNION 22 6.08% $6,096
    Renasant Bank 18 6.18% $9,339
    CANOPY MORTGAGE, LLC 18 6.74% $12,929
    QUICKEN LOANS, LLC 18 5.96% $9,876
    CROSSCOUNTRY MORTGAGE, LLC 17 6.51% $7,465
    MOVEMENT MORTGAGE, LLC 17 6.46% $7,347
    GUILD MORTGAGE COMPANY 16 6.38% $7,515
    NEW DAY FINANCIAL, LLC 15 7.51% $11,557
    Northpointe Bank 13 6.28% $8,780
    FREEDOM MORTGAGE CORPORATION 11 6.82% $14,920
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 10 5.98% $10,307
    GUARANTEED RATE, INC. 9 6.16% $5,286
    PENNYMAC LOAN SERVICES, LLC 9 5.67% $6,028
    HOMESTAR FINANCIAL CORPORATION 9 6.00% $7,360
    LOANDEPOT.COM, LLC 8 6.20% $10,827
    NEWREZ LLC 7 6.45% $5,080
    The Federal Savings Bank 7 6.36% $13,740
    EVERETT FINANCIAL, INC. 7 6.80% $6,738
    BROKER SOLUTIONS, INC. 7 6.42% $8,014
    Keystone Funding, Inc. 6 6.04% $9,854
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.75% $5,671
    VANDERBILT MORTGAGE AND FINANCE, INC. 6 6.46% $4,390
    MORTGAGE SOLUTIONS OF COLORADO, LLC 5 7.75% $2,834
    PENTAGON FEDERAL CREDIT UNION 5 5.63% $6,469
    Ameris Bank 5 6.08% $7,571
    USAA Federal Savings Bank 5 6.08% $7,018
    TJC Mortgage, Inc. 4 6.78% $8,235
    Synovus Bank 4 6.78% $4,591
    VILLAGE CAPITAL MORTGAGE 3 6.08% $14,856
    Plains Commerce Bank 3 6.46% $11,426
    RUOFF MORTGAGE COMPANY, INC. 3 7.25% $7,622
    South State Bank 3 5.79% $7,879
    Flagstar Bank, FSB 3 6.00% $5,457
    GMFS LLC 3 6.87% $3,799
    EMM LOANS LLC 3 6.29% $15,317
    AMERISAVE MORTGAGE CORPORATION 3 5.92% $12,234
    Mr. Cooper ( Nationstar Mortgage ) 2 5.69% $9,396
    Magnolia Bank 2 6.00% $11,461
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 5.81% $6,076
    PLANET HOME LENDING, LLC 2 5.50% $11,227
    The Central Trust Bank 1 5.63% $2,733
    BancorpSouth 1 7.50% $2,602
    Bank of England 1 6.25% $8,473
    Barrington Bank & Trust Company, N.A. 1 7.25% $6,791
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.25% $12,146
    Bell Bank 1 6.63% $6,472
    Capital City Home Loans, LLC 1 6.50% $3,613
    CARDINAL FINANCIAL 1 6.25% $11,894
    ENVOY MORTGAGE, LTD 1 5.75% $9,936
    First Federal Bank 1 6.63% $0
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.13% $37,761
    Mid-Continent Funding, Inc. 1 6.63% $13,962
    NBKC BANK 1 5.50% $2,602
    NORWICH COMMERCIAL GROUP, INC. 1 6.13% $2,337
    OPEN MORTGAGE, LLC 1 5.75% $3,890
    PHH Mortgage Corporation 1 6.63% $2,935
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.75% $7,955
    Regions Bank 1 7.13% $14,228
    RELIANCE FIRST CAPITAL, LLC 1 6.88% $15,514
    STOCKTON MORTGAGE CORPORATION 1 6.63% $8,102
    SUN WEST MORTGAGE COMPANY, INC. 1 6.63% $6,878
    American Mortgage & Equity Consultants, Inc. 1 7.75% $16,009
    Truist 1 6.50% $2,942

    The top Auburn VA lender as defined by loan originations is Mortgage Research Center, LLC, with 62 VA loans originated. Their average total fees are $6,225, which is $3,677 lower than the next largest lender, CMG MORTGAGE, INC..

    The lowest fee Auburn VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($6,096), Mortgage Research Center, LLC ($6,225), UNITED WHOLESALE MORTGAGE, LLC ($7,340), MOVEMENT MORTGAGE, LLC ($7,347) and CROSSCOUNTRY MORTGAGE, LLC ($7,465).

    The lowest rate Auburn VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.96%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (5.98%), Trustmark National Bank (5.98%), NAVY FEDERAL CREDIT UNION (6.08%) and Renasant Bank (6.18%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Auburn (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 $277,389 (22.6%) $309,844 (14.2%) 1.03 661
    2018-02-01 $279,089 (17.2%) $308,890 (9.2%) 1.01 700
    2018-03-01 $272,500 (9.0%) $302,835 (4.5%) 0.96 739
    2018-04-01 $282,300 (9.0%) $313,185 (6.3%) 0.96 730
    2018-05-01 $289,450 (9.5%) $327,641 (9.6%) 0.97 726
    2018-06-01 $289,000 (9.7%) $329,271 (10.1%) 0.96 766
    2018-07-01 $286,951 (6.3%) $329,073 (6.7%) 0.96 793
    2018-08-01 $279,900 (3.7%) $323,502 (3.7%) 0.94 824
    2018-09-01 $279,950 (4.1%) $324,090 (4.1%) 0.94 805
    2018-10-01 $283,909 (5.2%) $324,590 (5.0%) 0.96 782
    2018-11-01 $286,354 (4.9%) $320,121 (2.4%) 0.97 761
    2018-12-01 $286,000 (4.0%) $314,097 (-0.1%) 0.99 761
    2019-01-01 $284,900 (2.7%) $313,635 (1.2%) 0.98 743
    2019-02-01 $285,144 (2.2%) $317,622 (2.8%) 0.96 770
    2019-03-01 $291,034 (6.8%) $322,458 (6.5%) 0.95 806
    2019-04-01 $297,925 (5.5%) $327,515 (4.6%) 0.95 836
    2019-05-01 $295,000 (1.9%) $326,328 (-0.4%) 0.92 851
    2019-06-01 $292,622 (1.3%) $322,269 (-2.1%) 0.91 863
    2019-07-01 $292,033 (1.8%) $325,454 (-1.1%) 0.91 845
    2019-08-01 $290,980 (4.0%) $326,061 (0.8%) 0.92 830
    2019-09-01 $286,201 (2.2%) $324,271 (0.1%) 0.92 808
    2019-10-01 $284,023 (0.0%) $323,489 (-0.3%) 0.92 789
    2019-11-01 $284,000 (-0.8%) $321,346 (0.4%) 0.93 781
    2019-12-01 $285,500 (-0.2%) $323,953 (3.1%) 0.95 748
    2020-01-01 $284,900 (0.0%) $321,674 (2.6%) 0.95 719
    2020-02-01 $280,326 (-1.7%) $320,164 (0.8%) 0.92 746
    2020-03-01 $284,925 (-2.1%) $319,980 (-0.8%) 0.89 768
    2020-04-01 $289,796 (-2.7%) $321,464 (-1.9%) 0.91 801
    2020-05-01 $293,000 (-0.7%) $324,117 (-0.7%) 0.89 764
    2020-06-01 $299,000 (2.2%) $341,230 (5.9%) 0.88 730
    2020-07-01 $297,066 (1.7%) $340,996 (4.8%) 0.86 699
    2020-08-01 $299,000 (2.8%) $338,049 (3.7%) 0.86 671
    2020-09-01 $299,000 (4.5%) $341,875 (5.4%) 0.86 664
    2020-10-01 $308,250 (8.5%) $351,272 (8.6%) 0.88 630
    2020-11-01 $312,400 (10.0%) $360,274 (12.1%) 0.91 596
    2020-12-01 $309,900 (8.6%) $367,360 (13.4%) 0.92 544
    2021-01-01 $312,900 (9.8%) $374,746 (16.5%) 0.93 496
    2021-02-01 $318,795 (13.7%) $380,759 (18.9%) 0.93 489
    2021-03-01 $319,900 (12.3%) $377,270 (17.9%) 0.91 488
    2021-04-01 $327,350 (13.0%) $386,252 (20.2%) 0.89 476
    2021-05-01 $335,716 (14.6%) $406,787 (25.5%) 0.89 408
    2021-06-01 $357,644 (19.6%) $413,142 (21.1%) 0.94 405
    2021-07-01 $343,600 (15.7%) $406,813 (19.3%) 0.91 424
    2021-08-01 $344,325 (15.2%) $402,843 (19.2%) 0.92 492
    2021-09-01 $345,308 (15.5%) $400,096 (17.0%) 0.92 456
    2021-10-01 $342,600 (11.1%) $409,143 (16.5%) 0.91 429
    2021-11-01 $349,923 (12.0%) $407,895 (13.2%) 0.94 382
    2021-12-01 $356,759 (15.1%) $415,147 (13.0%) 0.97 344
    2022-01-01 $359,000 (14.7%) $417,846 (11.5%) 0.97 325
    2022-02-01 $354,500 (11.2%) $415,295 (9.1%) 0.92 319
    2022-03-01 $368,436 (15.2%) $417,505 (10.7%) 0.92 332
    2022-04-01 $375,000 (14.6%) $422,885 (9.5%) 0.89 350
    2022-05-01 $373,200 (11.2%) $429,122 (5.5%) 0.85 377
    2022-06-01 $386,965 (8.2%) $444,726 (7.6%) 0.86 452
    2022-07-01 $383,000 (11.5%) $448,048 (10.1%) 0.86 502
    2022-08-01 $383,559 (11.4%) $440,996 (9.5%) 0.89 497
    2022-09-01 $380,731 (10.3%) $439,382 (9.8%) 0.89 494
    2022-10-01 $375,950 (9.7%) $430,441 (5.2%) 0.88 542
    2022-11-01 $374,500 (7.0%) $430,196 (5.5%) 0.90 549
    2022-12-01 $379,900 (6.5%) $442,823 (6.7%) 0.94 498
    2023-01-01 $380,000 (5.9%) $440,928 (5.5%) 0.94 494
    2023-02-01 $380,450 (7.3%) $437,943 (5.5%) 0.92 477
    2023-03-01 $382,450 (3.8%) $443,857 (6.3%) 0.90 474
    2023-04-01 $389,900 (4.0%) $455,985 (7.8%) 0.91 491
    2023-05-01 $395,225 (5.9%) $463,158 (7.9%) 0.90 538
    2023-06-01 $391,940 (1.3%) $466,818 (5.0%) 0.88 590
    2023-07-01 $399,000 (4.2%) $471,499 (5.2%) 0.91 604
    2023-08-01 $402,450 (4.9%) $470,482 (6.7%) 0.92 612
    2023-09-01 $403,147 (5.9%) $473,704 (7.8%) 0.94 600
    2023-10-01 $405,895 (8.0%) $500,140 (16.2%) 0.96 611
    2023-11-01 $395,725 (5.7%) $494,798 (15.0%) 0.94 626
    2023-12-01 $389,900 (2.6%) $484,490 (9.4%) 0.95 609
    2024-01-01 $394,680 (3.9%) $484,784 (10.0%) 0.96 614
    2024-02-01 $394,928 (3.8%) $484,357 (10.6%) 0.95 615
    2024-03-01 $392,650 (2.7%) $485,266 (9.3%) 0.92 629
    Auburn's median listing price for 2024-03-01 was $392,650, a difference of $10,200 (2.7%) versus the prior year and $-2,278 versus the prior month.

    Auburn's median listing price comes in at 92% of the national average.

    Auburn's average listing price for 2024-03-01 was $485,266, a difference of $41,409 (9.3%) versus the prior year and $909 versus the prior month.

    For the 2024-03-01 period, Auburn had 629 MLS listings, a difference of 14 listings (2%) versus the prior month and 155 listings (33%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Auburn (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 80 days 2,408 sqft
    2018-02-01 64 days 2,424 sqft
    2018-03-01 58 days 2,406 sqft
    2018-04-01 54 days 2,420 sqft
    2018-05-01 56 days 2,446 sqft
    2018-06-01 61 days 2,440 sqft
    2018-07-01 66 days 2,471 sqft
    2018-08-01 64 days 2,446 sqft
    2018-09-01 71 days 2,449 sqft
    2018-10-01 85 days 2,472 sqft
    2018-11-01 95 days 2,420 sqft
    2018-12-01 94 days 2,380 sqft
    2019-01-01 89 days 2,358 sqft
    2019-02-01 77 days 2,357 sqft
    2019-03-01 62 days 2,379 sqft
    2019-04-01 56 days 2,390 sqft
    2019-05-01 59 days 2,406 sqft
    2019-06-01 62 days 2,366 sqft
    2019-07-01 67 days 2,394 sqft
    2019-08-01 71 days 2,405 sqft
    2019-09-01 77 days 2,402 sqft
    2019-10-01 83 days 2,403 sqft
    2019-11-01 82 days 2,406 sqft
    2019-12-01 88 days 2,406 sqft
    2020-01-01 90 days 2,389 sqft
    2020-02-01 80 days 2,326 sqft
    2020-03-01 55 days 2,306 sqft
    2020-04-01 64 days 2,312 sqft
    2020-05-01 74 days 2,319 sqft
    2020-06-01 69 days 2,350 sqft
    2020-07-01 59 days 2,303 sqft
    2020-08-01 60 days 2,290 sqft
    2020-09-01 61 days 2,276 sqft
    2020-10-01 67 days 2,332 sqft
    2020-11-01 74 days 2,319 sqft
    2020-12-01 83 days 2,300 sqft
    2021-01-01 77 days 2,261 sqft
    2021-02-01 51 days 2,238 sqft
    2021-03-01 40 days 2,225 sqft
    2021-04-01 50 days 2,239 sqft
    2021-05-01 36 days 2,237 sqft
    2021-06-01 37 days 2,267 sqft
    2021-07-01 37 days 2,238 sqft
    2021-08-01 34 days 2,189 sqft
    2021-09-01 40 days 2,165 sqft
    2021-10-01 52 days 2,181 sqft
    2021-11-01 53 days 2,181 sqft
    2021-12-01 54 days 2,228 sqft
    2022-01-01 56 days 2,249 sqft
    2022-02-01 38 days 2,234 sqft
    2022-03-01 33 days 2,277 sqft
    2022-04-01 31 days 2,279 sqft
    2022-05-01 33 days 2,281 sqft
    2022-06-01 31 days 2,288 sqft
    2022-07-01 39 days 2,300 sqft
    2022-08-01 57 days 2,293 sqft
    2022-09-01 59 days 2,300 sqft
    2022-10-01 59 days 2,311 sqft
    2022-11-01 58 days 2,324 sqft
    2022-12-01 75 days 2,354 sqft
    2023-01-01 84 days 2,346 sqft
    2023-02-01 65 days 2,277 sqft
    2023-03-01 57 days 2,238 sqft
    2023-04-01 52 days 2,254 sqft
    2023-05-01 46 days 2,316 sqft
    2023-06-01 46 days 2,288 sqft
    2023-07-01 51 days 2,300 sqft
    2023-08-01 55 days 2,330 sqft
    2023-09-01 63 days 2,304 sqft
    2023-10-01 65 days 2,352 sqft
    2023-11-01 65 days 2,251 sqft
    2023-12-01 71 days 2,200 sqft
    2024-01-01 77 days 2,229 sqft
    2024-02-01 68 days 2,203 sqft
    2024-03-01 60 days 2,213 sqft
    Auburn's median listing age (time on market) for 2024-03-01 was 60 days. This is 6% longer than the same period one year ago.

    Auburn's median square footage for active listings during the 2024-03-01 period was 2,213 sqft. One year prior, the average listing was 2,238 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.