Baton Rouge VA Loan Rates, Closing Costs & Stats

BATON ROUGE, LA

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.

Baton Rouge's 85 lenders originated 744 VA loans during 2023. The total origination value was $217,560,000, with an average VA loan value of $292,419.

Baton Rouge VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Baton Rouge averaged 6.71% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

Baton Rouge's average VA mortgage closing costs are $5,917.

The average rate for the prior week (2024-04-05) was 6.76% and one month ago for the week of 2024-03-08, the average rate was 6.39%.

The average rate one year ago was 6.18%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.57%.

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

Baton Rouge 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 Baton Rouge level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 107 6.74% $6,368
GMFS LLC 84 6.38% $7,246
UNITED WHOLESALE MORTGAGE, LLC 58 6.56% $6,920
DSLD MORTGAGE, LLC 33 6.06% $4,383
Assurance Financial Group, L.L.C. 33 6.50% $8,813
QUICKEN LOANS, LLC 33 6.15% $11,398
DHI MORTGAGE COMPANY, LTD. 33 5.35% $4,820
NAVY FEDERAL CREDIT UNION 32 5.89% $5,304
FREEDOM MORTGAGE CORPORATION 25 6.54% $11,115
MOVEMENT MORTGAGE, LLC 18 6.14% $9,549
USAA Federal Savings Bank 14 5.99% $10,700
PENNYMAC LOAN SERVICES, LLC 13 5.48% $8,420
CARDINAL FINANCIAL 13 6.70% $9,886
STANDARD MORTGAGE CORPORATION 7 6.26% $5,546
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.75% $8,120
SUN WEST MORTGAGE COMPANY, INC. 6 6.10% $13,505
MORTGAGE SOLUTIONS OF COLORADO, LLC 6 7.42% $1,064
CROSSCOUNTRY MORTGAGE, LLC 6 6.88% $11,673
LOANDEPOT.COM, LLC 6 6.44% $16,026
FIDELITY BANK 6 6.61% $8,818
NEWREZ LLC 6 6.65% $7,528
NEW DAY FINANCIAL, LLC 6 7.66% $10,133
VILLAGE CAPITAL MORTGAGE 6 6.36% $11,829
ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 6.65% $7,782
Equity Prime Mortgage LLC 5 6.13% $13,809
AMERICAN FINANCIAL NETWORK, INC. 5 7.00% $3,586
Hancock Whitney Bank 5 6.20% $10,058
MUTUAL OF OMAHA MORTGAGE, INC. 5 6.73% $8,639
EUSTIS AND AMERICAN MORTGAGE COMPANY 5 6.30% $10,410
Barrington Bank & Trust Company, N.A. 5 6.00% $8,763
Red River Bank 5 6.60% $5,459
Gulf Coast Bank and Trust Company 5 6.18% $9,493
The Federal Savings Bank 5 6.25% $14,727
AMCAP MORTGAGE, LTD. 4 6.91% $13,055
Paramount Residential Mortgage Group, Inc. 4 6.72% $7,003
Wolfe Financial, Inc 4 6.69% $10,060
PENTAGON FEDERAL CREDIT UNION 3 5.38% $5,853
Mr. Cooper ( Nationstar Mortgage ) 3 6.83% $18,978
Magnolia Bank 3 6.42% $13,104
Nations Lending Corporation 3 7.42% $7,081
THE MORTGAGE FIRM, INC. 3 6.54% $4,100
SUMMIT FUNDING, INC. 3 6.21% $3,327
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.00% $1,131
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.92% $8,007
HOMESPIRE MORTGAGE CORPORATION 3 6.21% $8,843
JPMorgan Chase Bank 3 5.83% $9,861
LAKEVIEW LOAN SERVICING, LLC 2 6.13% $16,056
Hometown Equity Mortgage, LLC 2 6.38% $13,501
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 7.19% $13,222
GUARANTEED RATE, INC. 2 6.25% $7,779
Gateway First Bank 2 7.00% $3,780
Flagstar Bank, FSB 2 6.00% $2,595
First Option Mortgage, LLC 2 7.38% $11,286
EMM LOANS LLC 2 6.94% $7,626
PLAZA HOME MORTGAGE, INC. 2 6.31% $6,715
PREMIA MORTGAGE, LLC 2 6.31% $8,055
CMG MORTGAGE, INC. 2 7.50% $11,040
Regions Bank 2 5.50% $8,972
Carrington Mortgage Services, LLC 2 5.63% $2,972
T2 FINANCIAL LLC 2 6.88% $5,000
US MORTGAGE CORPORATION 2 7.31% $13,572
INTERLINC MORTGAGE SERVICES, LLC 2 6.75% $7,809
MORTGAGE ACCESS CORP. 1 5.00% $6,121
BankPlus 1 6.25% $5,870
CITYWIDE HOME LOANS, LLC 1 6.25% $10,717
AmRes Corporation 1 6.75% $6,766
RELIANCE FIRST CAPITAL, LLC 1 7.00% $5,769
Renasant Bank 1 5.75% $8,887
Republic State Mortgage Co. 1 7.13% $4,829
SOUTHWEST STAGE FUNDING, LLC 1 5.88% $9,936
Citizens Bank 1 6.25% $4,958
MID AMERICA MORTGAGE, INC. 1 6.13% $4,987
LAND HOME FINANCIAL SERVICES, INC. 1 6.75% $13,652
SWBC MORTGAGE CORPORATION 1 5.75% $6,627
AMERISAVE MORTGAGE CORPORATION 1 5.75% $30,896
BNC National Bank 1 5.25% $13,276
North American Savings Bank, F.S.B. 1 6.50% $15,692
OCMBC, INC. 1 6.75% $4,790
Waterstone Mortgage Corporation 1 5.63% $17,290
Merchants & Marine Bank 1 6.63% $13,661
GUILD MORTGAGE COMPANY 1 6.13% $6,032
Plains Commerce Bank 1 6.63% $5,659
Towne Bank 1 7.25% $21,143
UNION HOME MORTGAGE CORP. 1 5.88% $5,518
MORTGAGE FINANCIAL SERVICES, LLC 1 6.50% $5,292

The top Baton Rouge VA lender as defined by loan originations is Mortgage Research Center, LLC, with 107 VA loans originated. Their average total fees are $6,368, which is $879 lower than the next largest lender, GMFS LLC.

The lowest fee Baton Rouge VA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($4,383), DHI MORTGAGE COMPANY, LTD. ($4,820), NAVY FEDERAL CREDIT UNION ($5,304), Mortgage Research Center, LLC ($6,368) and UNITED WHOLESALE MORTGAGE, LLC ($6,920).

The lowest rate Baton Rouge VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.35%), PENNYMAC LOAN SERVICES, LLC (5.48%), NAVY FEDERAL CREDIT UNION (5.89%), USAA Federal Savings Bank (5.99%) and DSLD MORTGAGE, LLC (6.06%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Baton Rouge (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 $225,000 (2.8%) $302,742 (3.0%) 0.83 3,170
2018-02-01 $225,725 (5.0%) $303,581 (3.2%) 0.82 3,191
2018-03-01 $234,900 (6.8%) $310,732 (3.3%) 0.82 3,427
2018-04-01 $238,375 (5.9%) $313,803 (2.4%) 0.81 3,504
2018-05-01 $240,400 (5.0%) $315,434 (1.1%) 0.80 3,662
2018-06-01 $244,900 (7.0%) $315,969 (2.3%) 0.82 3,881
2018-07-01 $239,900 (4.8%) $309,749 (0.8%) 0.80 4,009
2018-08-01 $239,900 (5.6%) $308,155 (1.7%) 0.80 4,035
2018-09-01 $239,900 (5.9%) $305,962 (1.1%) 0.81 4,012
2018-10-01 $236,400 (3.5%) $303,358 (-0.1%) 0.80 4,090
2018-11-01 $237,520 (4.6%) $302,216 (-0.8%) 0.81 4,064
2018-12-01 $236,150 (5.0%) $299,404 (-1.3%) 0.81 4,016
2019-01-01 $238,370 (5.9%) $302,018 (-0.2%) 0.82 3,860
2019-02-01 $239,700 (6.2%) $301,445 (-0.7%) 0.81 3,954
2019-03-01 $242,123 (3.1%) $307,675 (-1.0%) 0.79 3,997
2019-04-01 $247,000 (3.6%) $314,723 (0.3%) 0.78 4,056
2019-05-01 $249,900 (4.0%) $316,332 (0.3%) 0.78 4,090
2019-06-01 $249,999 (2.1%) $317,157 (0.4%) 0.78 4,188
2019-07-01 $248,691 (3.7%) $313,625 (1.3%) 0.78 4,245
2019-08-01 $246,836 (2.9%) $312,385 (1.4%) 0.78 4,264
2019-09-01 $245,241 (2.2%) $310,440 (1.5%) 0.78 4,226
2019-10-01 $243,475 (3.0%) $309,143 (1.9%) 0.79 4,201
2019-11-01 $241,095 (1.5%) $307,892 (1.9%) 0.79 4,153
2019-12-01 $239,950 (1.6%) $305,009 (1.9%) 0.80 3,980
2020-01-01 $239,900 (0.6%) $307,134 (1.7%) 0.80 3,806
2020-02-01 $240,950 (0.5%) $309,674 (2.7%) 0.79 3,821
2020-03-01 $248,975 (2.8%) $316,539 (2.9%) 0.78 3,836
2020-04-01 $245,975 (-0.4%) $314,725 (0.0%) 0.77 3,832
2020-05-01 $252,285 (1.0%) $324,546 (2.6%) 0.77 3,655
2020-06-01 $259,950 (4.0%) $336,885 (6.2%) 0.77 3,393
2020-07-01 $263,400 (5.9%) $338,836 (8.0%) 0.76 3,276
2020-08-01 $268,060 (8.6%) $346,779 (11.0%) 0.77 3,006
2020-09-01 $275,000 (12.1%) $354,372 (14.2%) 0.79 2,849
2020-10-01 $273,900 (12.5%) $355,012 (14.8%) 0.78 2,578
2020-11-01 $270,495 (12.2%) $356,804 (15.9%) 0.79 2,518
2020-12-01 $270,495 (12.7%) $360,342 (18.1%) 0.80 2,433
2021-01-01 $269,900 (12.5%) $366,043 (19.2%) 0.81 2,234
2021-02-01 $280,000 (16.2%) $383,660 (23.9%) 0.82 1,946
2021-03-01 $287,945 (15.7%) $387,907 (22.6%) 0.82 1,776
2021-04-01 $300,400 (22.1%) $407,532 (29.5%) 0.81 1,625
2021-05-01 $310,000 (22.9%) $418,791 (29.0%) 0.82 1,536
2021-06-01 $306,830 (18.0%) $419,574 (24.6%) 0.81 1,530
2021-07-01 $300,000 (13.9%) $412,993 (21.9%) 0.79 1,593
2021-08-01 $299,445 (11.7%) $405,705 (17.0%) 0.80 1,613
2021-09-01 $299,947 (9.1%) $406,804 (14.8%) 0.80 1,511
2021-10-01 $299,000 (9.2%) $404,565 (14.0%) 0.80 1,444
2021-11-01 $315,000 (16.5%) $414,970 (16.3%) 0.84 1,347
2021-12-01 $326,168 (20.6%) $422,717 (17.3%) 0.88 1,220
2022-01-01 $329,995 (22.3%) $433,119 (18.3%) 0.89 1,100
2022-02-01 $337,225 (20.4%) $456,064 (18.9%) 0.88 1,012
2022-03-01 $346,275 (20.3%) $476,550 (22.9%) 0.87 995
2022-04-01 $340,000 (13.2%) $479,521 (17.7%) 0.81 1,049
2022-05-01 $325,700 (5.1%) $453,946 (8.4%) 0.74 1,234
2022-06-01 $326,900 (6.5%) $444,522 (6.0%) 0.73 1,429
2022-07-01 $325,000 (8.3%) $427,133 (3.4%) 0.73 1,739
2022-08-01 $322,995 (7.9%) $421,934 (4.0%) 0.75 1,906
2022-09-01 $324,879 (8.3%) $420,370 (3.3%) 0.76 1,976
2022-10-01 $324,724 (8.6%) $418,464 (3.4%) 0.76 2,034
2022-11-01 $320,719 (1.8%) $415,353 (0.1%) 0.77 2,136
2022-12-01 $320,000 (-1.9%) $416,382 (-1.5%) 0.79 2,053
2023-01-01 $323,245 (-2.1%) $415,489 (-4.1%) 0.80 1,885
2023-02-01 $324,350 (-3.8%) $417,156 (-8.5%) 0.78 1,901
2023-03-01 $325,000 (-6.1%) $416,064 (-12.7%) 0.77 1,915
2023-04-01 $329,000 (-3.2%) $417,726 (-12.9%) 0.77 1,937
2023-05-01 $334,000 (2.6%) $435,291 (-4.1%) 0.76 2,010
2023-06-01 $335,000 (2.5%) $441,301 (-0.7%) 0.75 2,034
2023-07-01 $325,000 (0.0%) $434,272 (1.7%) 0.74 2,145
2023-08-01 $319,950 (-0.9%) $426,371 (1.1%) 0.73 2,285
2023-09-01 $310,000 (-4.6%) $415,492 (-1.2%) 0.72 2,384
2023-10-01 $301,954 (-7.0%) $403,445 (-3.6%) 0.71 2,549
2023-11-01 $299,990 (-6.5%) $399,473 (-3.8%) 0.71 2,576
2023-12-01 $299,000 (-6.6%) $395,653 (-5.0%) 0.73 2,531
2024-01-01 $294,900 (-8.8%) $393,136 (-5.4%) 0.72 2,460
2024-02-01 $299,450 (-7.7%) $400,653 (-4.0%) 0.72 2,373
2024-03-01 $305,000 (-6.2%) $406,012 (-2.4%) 0.72 2,435
Baton Rouge's median listing price for 2024-03-01 was $305,000, a difference of $-20,000 (-6.2%) versus the prior year and $5,550 versus the prior month.

Baton Rouge's median listing price comes in at 72% of the national average.

Baton Rouge's average listing price for 2024-03-01 was $406,012, a difference of $-10,052 (-2.4%) versus the prior year and $5,359 versus the prior month.

For the 2024-03-01 period, Baton Rouge had 2,435 MLS listings, a difference of 62 listings (3%) versus the prior month and 520 listings (27%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Baton Rouge (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 82 days 1,881 sqft
2018-02-01 80 days 1,878 sqft
2018-03-01 57 days 1,908 sqft
2018-04-01 56 days 1,941 sqft
2018-05-01 59 days 1,947 sqft
2018-06-01 59 days 1,965 sqft
2018-07-01 63 days 1,954 sqft
2018-08-01 68 days 1,951 sqft
2018-09-01 72 days 1,942 sqft
2018-10-01 77 days 1,931 sqft
2018-11-01 81 days 1,927 sqft
2018-12-01 87 days 1,910 sqft
2019-01-01 91 days 1,911 sqft
2019-02-01 83 days 1,913 sqft
2019-03-01 72 days 1,930 sqft
2019-04-01 66 days 1,949 sqft
2019-05-01 66 days 1,971 sqft
2019-06-01 69 days 1,973 sqft
2019-07-01 72 days 1,943 sqft
2019-08-01 73 days 1,933 sqft
2019-09-01 77 days 1,928 sqft
2019-10-01 80 days 1,921 sqft
2019-11-01 86 days 1,914 sqft
2019-12-01 94 days 1,902 sqft
2020-01-01 97 days 1,880 sqft
2020-02-01 87 days 1,912 sqft
2020-03-01 68 days 1,925 sqft
2020-04-01 75 days 1,914 sqft
2020-05-01 85 days 1,943 sqft
2020-06-01 85 days 1,982 sqft
2020-07-01 69 days 1,989 sqft
2020-08-01 66 days 2,006 sqft
2020-09-01 68 days 2,051 sqft
2020-10-01 73 days 2,014 sqft
2020-11-01 72 days 2,005 sqft
2020-12-01 72 days 1,992 sqft
2021-01-01 75 days 1,974 sqft
2021-02-01 74 days 2,010 sqft
2021-03-01 58 days 2,011 sqft
2021-04-01 55 days 2,055 sqft
2021-05-01 51 days 2,069 sqft
2021-06-01 47 days 2,035 sqft
2021-07-01 43 days 2,032 sqft
2021-08-01 47 days 2,020 sqft
2021-09-01 60 days 2,022 sqft
2021-10-01 65 days 2,012 sqft
2021-11-01 59 days 2,059 sqft
2021-12-01 66 days 2,075 sqft
2022-01-01 71 days 2,069 sqft
2022-02-01 61 days 2,079 sqft
2022-03-01 44 days 2,111 sqft
2022-04-01 37 days 2,077 sqft
2022-05-01 37 days 2,045 sqft
2022-06-01 37 days 2,038 sqft
2022-07-01 38 days 2,012 sqft
2022-08-01 49 days 2,010 sqft
2022-09-01 58 days 2,010 sqft
2022-10-01 65 days 2,010 sqft
2022-11-01 67 days 2,010 sqft
2022-12-01 80 days 2,010 sqft
2023-01-01 88 days 2,002 sqft
2023-02-01 86 days 2,007 sqft
2023-03-01 65 days 2,004 sqft
2023-04-01 61 days 2,013 sqft
2023-05-01 60 days 2,033 sqft
2023-06-01 61 days 2,023 sqft
2023-07-01 58 days 1,993 sqft
2023-08-01 58 days 1,984 sqft
2023-09-01 60 days 1,961 sqft
2023-10-01 63 days 1,931 sqft
2023-11-01 69 days 1,915 sqft
2023-12-01 80 days 1,894 sqft
2024-01-01 90 days 1,884 sqft
2024-02-01 87 days 1,909 sqft
2024-03-01 64 days 1,930 sqft
Baton Rouge's median listing age (time on market) for 2024-03-01 was 64 days. This is -1% shorter than the same period one year ago.

Baton Rouge's median square footage for active listings during the 2024-03-01 period was 1,930 sqft. One year prior, the average listing was 2,004 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.