Baton Rouge VA Loan Rates, Closing Costs & Stats

BATON ROUGE, LA

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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.

    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 -0.06% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

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

    The average rate for the prior week (2024-11-08) was 6.44% and one month ago for the week of 2024-10-11, the average rate was 5.81%.

    The average rate one year ago was 7.1%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.3%.

    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
    2024-04-01 $312,500 (-5.0%) $413,422 (-1.0%) 0.73 2,489
    2024-05-01 $315,495 (-5.5%) $419,451 (-3.6%) 0.71 2,559
    2024-06-01 $313,685 (-6.4%) $406,900 (-7.8%) 0.70 2,719
    2024-07-01 $312,495 (-3.9%) $402,663 (-7.3%) 0.71 2,848
    2024-08-01 $301,995 (-5.6%) $394,293 (-7.5%) 0.70 2,975
    2024-09-01 $306,675 (-1.1%) $397,480 (-4.3%) 0.72 2,926
    2024-10-01 $299,950 (-0.7%) $392,126 (-2.8%) 0.71 2,997
    Baton Rouge's median listing price for 2024-10-01 was $299,950, a difference of $-2,004 (-0.7%) versus the prior year and $-6,725 versus the prior month.

    Baton Rouge's median listing price comes in at 71% of the national average.

    Baton Rouge's average listing price for 2024-10-01 was $392,126, a difference of $-11,319 (-2.8%) versus the prior year and $-5,354 versus the prior month.

    For the 2024-10-01 period, Baton Rouge had 2,997 MLS listings, a difference of 71 listings (2%) versus the prior month and 448 listings (18%) 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
    2024-04-01 61 days 1,947 sqft
    2024-05-01 61 days 1,958 sqft
    2024-06-01 58 days 1,927 sqft
    2024-07-01 60 days 1,909 sqft
    2024-08-01 65 days 1,900 sqft
    2024-09-01 73 days 1,904 sqft
    2024-10-01 75 days 1,887 sqft
    Baton Rouge's median listing age (time on market) for 2024-10-01 was 75 days. This is 18% longer than the same period one year ago.

    Baton Rouge's median square footage for active listings during the 2024-10-01 period was 1,887 sqft. One year prior, the average listing was 1,931 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.