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 88 lenders originated 763 VA loans during 2022. The total origination value was $225,645,000, with an average VA loan value of $295,734.

    Auburn VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Auburn averaged 6.6% for the week of 2023-09-22, compared to the national average (all VA variants) of 6.823% for the same period.

    Auburn's average VA mortgage closing costs are $5,465.

    The average rate for the prior week (2023-09-15) was 6.58% and one month ago for the week of 2023-08-18, the average rate was 6.66%.

    The average rate one year ago was 5.32%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.54%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 98 5.21% $5,846
    CMG MORTGAGE, INC. 42 4.69% $11,343
    QUICKEN LOANS, LLC 39 4.32% $9,192
    HOMESTAR FINANCIAL CORPORATION 38 4.77% $6,379
    Trustmark National Bank 32 4.61% $9,129
    NAVY FEDERAL CREDIT UNION 30 4.39% $6,399
    USAA Federal Savings Bank 30 4.48% $6,633
    PENNYMAC LOAN SERVICES, LLC 29 3.39% $6,493
    UNITED WHOLESALE MORTGAGE, LLC 25 5.07% $9,058
    GUILD MORTGAGE COMPANY 23 4.62% $11,086
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 21 4.77% $9,158
    LOANDEPOT.COM, LLC 18 4.46% $7,837
    FREEDOM MORTGAGE CORPORATION 17 4.01% $7,742
    NEW DAY FINANCIAL, LLC 16 4.95% $11,716
    Renasant Bank 16 4.80% $8,061
    INTERLINC MORTGAGE SERVICES, LLC 16 4.02% $7,723
    VANDERBILT MORTGAGE AND FINANCE, INC. 16 4.54% $6,618
    BROKER SOLUTIONS, INC. 14 4.90% $10,872
    Northpointe Bank 12 4.39% $7,384
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 5.09% $10,766
    CROSSCOUNTRY MORTGAGE, LLC 11 4.70% $9,960
    MOVEMENT MORTGAGE, LLC 11 4.33% $8,973
    MORTGAGE SOLUTIONS OF COLORADO, LLC 10 5.24% $11,785
    RUOFF MORTGAGE COMPANY, INC. 8 5.59% $9,229
    FIRST COMMUNITY MORTGAGE, INC. 8 4.20% $8,692
    HOME POINT FINANCIAL CORPORATION 7 4.66% $8,608
    Synovus Bank 7 4.36% $5,926
    LAKEVIEW LOAN SERVICING, LLC 6 4.04% $3,384
    FirstBank 5 5.40% $12,945
    Sierra Pacific Mortgage Company, Inc. 5 3.20% $8,800
    EVERETT FINANCIAL, INC. 5 5.03% $4,019
    Ameris Bank 5 4.60% $5,513
    Barrington Bank & Trust Company, N.A. 5 4.23% $5,313
    CALIBER HOME LOANS, INC. 4 3.83% $7,851
    CERTAINTY HOME LOANS, LLC 4 4.56% $8,320
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 5.00% $12,180
    Armed Forces Bank 3 3.71% $4,381
    Flagstar Bank, FSB 3 4.88% $2,707
    GUARANTEED RATE, INC. 3 3.95% $12,630
    Mid-Continent Funding, Inc. 3 4.75% $6,865
    MILEND, INC. 3 5.71% $12,182
    Mr. Cooper ( Nationstar Mortgage ) 3 4.00% $8,429
    MUTUAL OF OMAHA MORTGAGE, INC. 3 4.71% $15,910
    Wells Fargo Bank 3 3.67% $5,535
    North American Savings Bank, F.S.B. 2 4.94% $2,183
    Carrington Mortgage Services, LLC 2 4.06% $7,338
    VILLAGE CAPITAL MORTGAGE 2 3.75% $11,495
    The Federal Savings Bank 2 3.88% $15,552
    ENVOY MORTGAGE, LTD 2 4.19% $10,734
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.56% $4,448
    NATIONS RELIABLE LENDING, LLC 2 5.00% $13,847
    Valley National Bank 2 5.06% $4,551
    First Federal Bank 2 3.94% $10,936
    PENTAGON FEDERAL CREDIT UNION 2 2.69% $4,334
    CONTOUR MORTGAGE CORPORATION 2 4.44% $13,922
    NEWREZ LLC 2 4.00% $4,630
    PLANET HOME LENDING, LLC 2 6.25% $7,834
    AMERICAN FINANCING CORPORATION 1 4.88% $6,216
    Prosperity Home Mortgage, LLC 1 2.75% $2,146
    Regions Bank 1 4.75% $7,650
    RELIANCE FIRST CAPITAL, LLC 1 4.00% $5,315
    EMM LOANS LLC 1 5.75% $3,798
    DAS Acquisition Company, LLC 1 6.13% $22,052
    South State Bank 1 4.75% $16,595
    STOCKTON MORTGAGE CORPORATION 1 4.25% $5,734
    SUN WEST MORTGAGE COMPANY, INC. 1 7.00% $5,710
    The Central Trust Bank 1 3.38% $3,038
    CARDINAL FINANCIAL 1 3.99% $3,166
    BNC National Bank 1 4.25% $11,647
    BAY EQUITY LLC 1 4.99% $3,899
    KELLER MORTGAGE, LLC 1 5.25% $17,785
    JPMorgan Chase Bank 1 3.88% $11,898
    Hometown Lenders, Inc. 1 4.75% $22,429
    Low VA Rates, LLC 1 4.75% $8,921
    AMERISAVE MORTGAGE CORPORATION 1 3.13% $8,924
    Magnolia Bank 1 5.25% $9,035
    HOMESIDE FINANCIAL, LLC 1 4.13% $16,728
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 5.00% $12,294
    Waterstone Mortgage Corporation 1 4.13% $17,673
    Wyndham Capital Mortgage, Inc. 1 4.25% $1,785
    GMFS LLC 1 3.50% $3,163
    NBH Bank 1 5.13% $15,054
    NBKC BANK 1 4.75% $12,546
    FBC MORTGAGE, LLC 1 3.50% $18,867
    OPEN MORTGAGE, LLC 1 4.75% $8,114
    Paramount Residential Mortgage Group, Inc. 1 5.75% $14,764
    Equity Prime Mortgage LLC 1 6.75% $4,735
    PHH Mortgage Corporation 1 3.38% $2,968

    The top Auburn VA lender as defined by loan originations is Mortgage Research Center, LLC, with 98 VA loans originated. Their average total fees are $5,846, which is $5,496 lower than the next largest lender, CMG MORTGAGE, INC..

    The lowest fee Auburn VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,846), HOMESTAR FINANCIAL CORPORATION ($6,379), NAVY FEDERAL CREDIT UNION ($6,399), PENNYMAC LOAN SERVICES, LLC ($6,493) and VANDERBILT MORTGAGE AND FINANCE, INC. ($6,618).

    The lowest rate Auburn VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.39%), FREEDOM MORTGAGE CORPORATION (4.01%), INTERLINC MORTGAGE SERVICES, LLC (4.02%), QUICKEN LOANS, LLC (4.32%) and MOVEMENT MORTGAGE, LLC (4.33%).

    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 $277,416 (22.5%) $309,791 (14.2%) 1.03 664
    2018-02-01 $279,450 (17.4%) $308,848 (9.3%) 1.02 703
    2018-03-01 $274,772 (10.0%) $302,973 (4.7%) 0.96 741
    2018-04-01 $283,313 (9.4%) $313,300 (6.4%) 0.96 732
    2018-05-01 $289,875 (9.6%) $327,550 (9.7%) 0.97 729
    2018-06-01 $289,000 (9.7%) $329,178 (10.2%) 0.96 769
    2018-07-01 $286,976 (6.3%) $329,008 (6.7%) 0.96 796
    2018-08-01 $279,900 (3.7%) $323,735 (3.8%) 0.94 825
    2018-09-01 $281,450 (4.6%) $324,626 (4.4%) 0.95 807
    2018-10-01 $284,950 (5.6%) $325,212 (5.3%) 0.97 785
    2018-11-01 $286,996 (5.1%) $320,666 (2.6%) 0.97 766
    2018-12-01 $287,854 (4.7%) $314,879 (0.1%) 0.99 765
    2019-01-01 $285,000 (2.7%) $314,436 (1.5%) 0.98 746
    2019-02-01 $285,919 (2.3%) $318,426 (3.1%) 0.97 773
    2019-03-01 $292,386 (6.4%) $323,194 (6.7%) 0.96 808
    2019-04-01 $298,524 (5.4%) $328,168 (4.8%) 0.95 838
    2019-05-01 $295,525 (2.0%) $327,103 (-0.1%) 0.92 853
    2019-06-01 $294,388 (1.9%) $323,059 (-1.9%) 0.92 865
    2019-07-01 $292,541 (1.9%) $326,116 (-0.9%) 0.92 846
    2019-08-01 $291,900 (4.3%) $326,457 (0.8%) 0.92 832
    2019-09-01 $287,709 (2.2%) $324,615 (0.0%) 0.92 811
    2019-10-01 $284,900 (0.0%) $323,801 (-0.4%) 0.92 792
    2019-11-01 $284,000 (-1.0%) $321,271 (0.2%) 0.93 776
    2019-12-01 $285,429 (-0.8%) $323,793 (2.8%) 0.95 743
    2020-01-01 $284,900 (0.0%) $321,801 (2.3%) 0.95 715
    2020-02-01 $280,537 (-1.9%) $320,221 (0.6%) 0.92 743
    2020-03-01 $284,950 (-2.5%) $320,064 (-1.0%) 0.89 765
    2020-04-01 $289,892 (-2.9%) $321,548 (-2.0%) 0.91 799
    2020-05-01 $293,426 (-0.7%) $324,319 (-0.9%) 0.89 763
    2020-06-01 $299,000 (1.6%) $341,443 (5.7%) 0.88 730
    2020-07-01 $297,408 (1.7%) $341,104 (4.6%) 0.86 699
    2020-08-01 $299,000 (2.4%) $338,170 (3.6%) 0.86 670
    2020-09-01 $299,225 (4.0%) $342,192 (5.4%) 0.86 663
    2020-10-01 $309,000 (8.5%) $351,215 (8.5%) 0.89 631
    2020-11-01 $312,175 (9.9%) $359,703 (12.0%) 0.91 596
    2020-12-01 $309,900 (8.6%) $366,630 (13.2%) 0.92 544
    2021-01-01 $312,822 (9.8%) $374,543 (16.4%) 0.93 495
    2021-02-01 $318,575 (13.6%) $380,492 (18.8%) 0.93 488
    2021-03-01 $319,900 (12.3%) $376,648 (17.7%) 0.91 488
    2021-04-01 $327,400 (12.9%) $386,852 (20.3%) 0.89 473
    2021-05-01 $339,900 (15.8%) $410,466 (26.6%) 0.90 397
    2021-06-01 $359,835 (20.4%) $416,575 (22.0%) 0.95 398
    2021-07-01 $344,950 (16.0%) $406,825 (19.3%) 0.91 422
    2021-08-01 $344,500 (15.2%) $402,755 (19.1%) 0.92 494
    2021-09-01 $346,504 (15.8%) $400,165 (16.9%) 0.92 455
    2021-10-01 $342,900 (11.0%) $409,632 (16.6%) 0.91 429
    2021-11-01 $349,945 (12.1%) $408,162 (13.5%) 0.94 383
    2021-12-01 $356,759 (15.1%) $414,492 (13.1%) 0.97 344
    2022-01-01 $359,000 (14.8%) $416,630 (11.2%) 0.97 324
    2022-02-01 $354,339 (11.2%) $414,758 (9.0%) 0.92 318
    2022-03-01 $368,711 (15.3%) $417,309 (10.8%) 0.92 330
    2022-04-01 $376,958 (15.1%) $421,850 (9.1%) 0.90 348
    2022-05-01 $373,225 (9.8%) $429,300 (4.6%) 0.85 375
    2022-06-01 $386,903 (7.5%) $444,659 (6.7%) 0.86 450
    2022-07-01 $382,500 (10.9%) $447,220 (9.9%) 0.86 502
    2022-08-01 $383,559 (11.3%) $440,955 (9.5%) 0.89 499
    2022-09-01 $380,639 (9.9%) $439,223 (9.8%) 0.89 494
    2022-10-01 $375,900 (9.6%) $430,300 (5.1%) 0.88 542
    2022-11-01 $374,500 (7.0%) $430,154 (5.4%) 0.90 549
    2022-12-01 $379,900 (6.5%) $442,775 (6.8%) 0.94 498
    2023-01-01 $379,950 (5.8%) $440,756 (5.8%) 0.94 495
    2023-02-01 $380,200 (7.3%) $437,674 (5.5%) 0.92 478
    2023-03-01 $382,448 (3.7%) $443,576 (6.3%) 0.90 475
    2023-04-01 $389,900 (3.4%) $456,372 (8.2%) 0.91 490
    2023-05-01 $398,641 (6.8%) $464,880 (8.3%) 0.90 532
    2023-06-01 $396,500 (2.5%) $469,612 (5.6%) 0.89 582
    2023-07-01 $399,900 (4.6%) $472,963 (5.8%) 0.91 600
    2023-08-01 $402,450 (4.9%) $470,482 (6.7%) 0.92 612
    Auburn's median listing price for 2023-08-01 was $402,450, a difference of $18,891 (4.9%) versus the prior year and $2,550 versus the prior month.

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

    Auburn's average listing price for 2023-08-01 was $470,482, a difference of $29,527 (6.7%) versus the prior year and $-2,481 versus the prior month.

    For the 2023-08-01 period, Auburn had 612 MLS listings, a difference of 12 listings (2%) versus the prior month and 113 listings (23%) 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 2,409 sqft
    2018-02-01 65 days 2,428 sqft
    2018-03-01 58 days 2,406 sqft
    2018-04-01 54 days 2,421 sqft
    2018-05-01 56 days 2,446 sqft
    2018-06-01 61 days 2,442 sqft
    2018-07-01 66 days 2,472 sqft
    2018-08-01 64 days 2,446 sqft
    2018-09-01 71 days 2,454 sqft
    2018-10-01 85 days 2,474 sqft
    2018-11-01 94 days 2,433 sqft
    2018-12-01 94 days 2,400 sqft
    2019-01-01 89 days 2,365 sqft
    2019-02-01 77 days 2,365 sqft
    2019-03-01 64 days 2,389 sqft
    2019-04-01 57 days 2,397 sqft
    2019-05-01 59 days 2,406 sqft
    2019-06-01 62 days 2,368 sqft
    2019-07-01 67 days 2,400 sqft
    2019-08-01 71 days 2,407 sqft
    2019-09-01 77 days 2,405 sqft
    2019-10-01 83 days 2,405 sqft
    2019-11-01 82 days 2,406 sqft
    2019-12-01 88 days 2,406 sqft
    2020-01-01 91 days 2,394 sqft
    2020-02-01 76 days 2,327 sqft
    2020-03-01 55 days 2,312 sqft
    2020-04-01 64 days 2,312 sqft
    2020-05-01 73 days 2,319 sqft
    2020-06-01 69 days 2,350 sqft
    2020-07-01 59 days 2,303 sqft
    2020-08-01 59 days 2,290 sqft
    2020-09-01 61 days 2,278 sqft
    2020-10-01 66 days 2,332 sqft
    2020-11-01 74 days 2,317 sqft
    2020-12-01 84 days 2,300 sqft
    2021-01-01 77 days 2,260 sqft
    2021-02-01 51 days 2,233 sqft
    2021-03-01 40 days 2,224 sqft
    2021-04-01 50 days 2,245 sqft
    2021-05-01 37 days 2,261 sqft
    2021-06-01 37 days 2,277 sqft
    2021-07-01 37 days 2,232 sqft
    2021-08-01 34 days 2,185 sqft
    2021-09-01 41 days 2,159 sqft
    2021-10-01 52 days 2,188 sqft
    2021-11-01 52 days 2,181 sqft
    2021-12-01 55 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 2,275 sqft
    2022-04-01 31 days 2,273 sqft
    2022-05-01 33 days 2,279 sqft
    2022-06-01 31 days 2,288 sqft
    2022-07-01 39 days 2,290 sqft
    2022-08-01 57 days 2,293 sqft
    2022-09-01 59 days 2,300 sqft
    2022-10-01 59 days 2,315 sqft
    2022-11-01 59 days 2,324 sqft
    2022-12-01 75 days 2,354 sqft
    2023-01-01 84 days 2,344 sqft
    2023-02-01 65 days 2,270 sqft
    2023-03-01 57 days 2,238 sqft
    2023-04-01 53 days 2,258 sqft
    2023-05-01 46 days 2,331 sqft
    2023-06-01 47 days 2,321 sqft
    2023-07-01 51 days 2,311 sqft
    2023-08-01 55 days 2,330 sqft
    Auburn's median listing age (time on market) for 2023-08-01 was 55 days. This is -4% shorter than the same period one year ago.

    Auburn's median square footage for active listings during the 2023-08-01 period was 2,330 sqft. One year prior, the average listing was 2,293 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.