Auburn VA Loan Rates, Closing Costs & Stats

AUBURN-OPELIKA, AL

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.