Bay City VA Loan Rates, Closing Costs & Stats

Bay City, TX

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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.

    Bay City's 15 lenders originated 29 VA loans during 2023. The total origination value was $7,595,000, with an average VA loan value of $261,897.

    Bay City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Bay City averaged 0.33% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Bay City's average VA mortgage closing costs are $5,995.

    The average rate for the prior week (2024-11-08) was 6.74% and one month ago for the week of 2024-10-11, the average rate was 6.4%.

    The average rate one year ago was 7.59%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.1%.

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

    Bay City 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 Bay City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 12 6.33% $8,407
    INSPIRE HOME LOANS INC. 3 5.63% $4,531
    NAVY FEDERAL CREDIT UNION 2 6.06% $7,993
    Equity Prime Mortgage LLC 1 6.75% $7,424
    Gateway First Bank 1 7.25% $6,638
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $765
    GUILD MORTGAGE COMPANY 1 6.63% $12,161
    MID AMERICA MORTGAGE, INC. 1 7.13% $26,094
    Nations Lending Corporation 1 7.25% $3,571
    PLANET HOME LENDING, LLC 1 5.63% $15,862
    QUICKEN LOANS, LLC 1 6.63% $4,209
    Ameris Bank 1 7.13% $15,455
    UNITED WHOLESALE MORTGAGE, LLC 1 6.62% $8,229
    BancorpSouth 1 7.13% $3,687
    CROSSCOUNTRY MORTGAGE, LLC 1 5.75% $9,131

    The top Bay City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 12 VA loans originated. Their average total fees are $8,407, which is $3,876 higher than the next largest lender, INSPIRE HOME LOANS INC..

    The lowest fee Bay City VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($8,407), .

    The lowest rate Bay City VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.33%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Bay City (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 $219,725 (2.2%) $243,752 (3.3%) 0.00 259
    2018-02-01 $219,975 (-2.1%) $248,016 (3.0%) 0.00 267
    2018-03-01 $227,000 (4.9%) $246,793 (3.0%) 0.00 273
    2018-04-01 $229,550 (14.8%) $244,880 (4.7%) 0.00 270
    2018-05-01 $229,838 (15.4%) $246,973 (7.9%) 0.00 282
    2018-06-01 $229,900 (15.5%) $250,808 (10.5%) 0.00 297
    2018-07-01 $232,909 (6.8%) $254,874 (8.6%) 0.00 318
    2018-08-01 $229,450 (6.7%) $253,626 (8.7%) 0.00 330
    2018-09-01 $231,066 (5.3%) $254,006 (8.5%) 0.00 318
    2018-10-01 $227,000 (3.3%) $248,717 (4.1%) 0.00 314
    2018-11-01 $220,000 (0.2%) $243,284 (0.4%) 0.00 317
    2018-12-01 $219,900 (-2.2%) $243,756 (-1.0%) 0.00 316
    2019-01-01 $219,950 (0.1%) $241,384 (-1.0%) 0.00 295
    2019-02-01 $218,123 (-0.8%) $236,214 (-4.8%) 0.00 305
    2019-03-01 $217,036 (-4.4%) $236,679 (-4.1%) 0.00 311
    2019-04-01 $215,375 (-6.2%) $236,753 (-3.3%) 0.00 326
    2019-05-01 $214,502 (-6.7%) $237,145 (-4.0%) 0.00 326
    2019-06-01 $212,212 (-7.7%) $238,490 (-4.9%) 0.00 319
    2019-07-01 $214,639 (-7.8%) $245,040 (-3.9%) 0.00 324
    2019-08-01 $219,545 (-4.3%) $245,564 (-3.2%) 0.00 307
    2019-09-01 $222,614 (-3.7%) $246,009 (-3.2%) 0.00 296
    2019-10-01 $224,975 (-0.9%) $246,359 (-1.0%) 0.00 283
    2019-11-01 $209,900 (-4.6%) $241,352 (-0.8%) 0.00 267
    2019-12-01 $205,625 (-6.5%) $236,656 (-2.9%) 0.00 258
    2020-01-01 $205,625 (-6.5%) $235,682 (-2.4%) 0.00 235
    2020-02-01 $209,000 (-4.2%) $237,959 (0.7%) 0.00 235
    2020-03-01 $214,950 (-1.0%) $269,856 (14.0%) 0.00 248
    2020-04-01 $205,000 (-4.8%) $264,483 (11.7%) 0.00 247
    2020-05-01 $210,000 (-2.1%) $266,279 (12.3%) 0.00 233
    2020-06-01 $214,175 (0.9%) $270,724 (13.5%) 0.00 221
    2020-07-01 $213,500 (-0.5%) $262,611 (7.2%) 0.00 203
    2020-08-01 $210,000 (-4.4%) $250,599 (2.1%) 0.00 180
    2020-09-01 $211,000 (-5.2%) $247,241 (0.5%) 0.00 168
    2020-10-01 $210,000 (-6.7%) $258,851 (5.1%) 0.00 177
    2020-11-01 $216,500 (3.1%) $266,502 (10.4%) 0.00 181
    2020-12-01 $215,000 (4.6%) $267,490 (13.0%) 0.00 170
    2021-01-01 $215,000 (4.6%) $265,359 (12.6%) 0.00 147
    2021-02-01 $209,600 (0.3%) $270,756 (13.8%) 0.00 138
    2021-03-01 $211,500 (-1.6%) $308,644 (14.4%) 0.00 127
    2021-04-01 $216,000 (5.4%) $310,846 (17.5%) 0.00 122
    2021-05-01 $225,000 (7.1%) $331,832 (24.6%) 0.00 116
    2021-06-01 $246,250 (15.0%) $342,335 (26.5%) 0.00 110
    2021-07-01 $264,681 (24.0%) $340,740 (29.8%) 0.00 111
    2021-08-01 $259,000 (23.3%) $330,918 (32.1%) 0.00 116
    2021-09-01 $246,006 (16.6%) $283,883 (14.8%) 0.00 108
    2021-10-01 $249,500 (18.8%) $291,756 (12.7%) 0.00 106
    2021-11-01 $235,000 (8.6%) $285,649 (7.2%) 0.00 128
    2021-12-01 $232,450 (8.1%) $288,473 (7.8%) 0.00 145
    2022-01-01 $229,500 (6.7%) $298,722 (12.6%) 0.00 136
    2022-02-01 $226,750 (8.2%) $304,067 (12.3%) 0.00 132
    2022-03-01 $214,700 (1.5%) $317,451 (2.9%) 0.00 129
    2022-04-01 $255,250 (18.2%) $369,987 (19.0%) 0.00 143
    2022-05-01 $273,750 (21.7%) $375,652 (13.2%) 0.00 157
    2022-06-01 $261,525 (6.2%) $369,601 (8.0%) 0.00 164
    2022-07-01 $275,000 (3.9%) $354,303 (4.0%) 0.00 188
    2022-08-01 $279,870 (8.1%) $341,426 (3.2%) 0.00 203
    2022-09-01 $270,120 (9.8%) $315,627 (11.2%) 0.00 199
    2022-10-01 $250,000 (0.2%) $327,657 (12.3%) 0.00 168
    2022-11-01 $250,000 (6.4%) $325,539 (14.0%) 0.00 177
    2022-12-01 $249,990 (7.6%) $322,440 (11.8%) 0.00 193
    2023-01-01 $247,990 (8.1%) $320,995 (7.5%) 0.00 188
    2023-02-01 $247,490 (9.2%) $314,462 (3.4%) 0.00 198
    2023-03-01 $249,998 (16.4%) $320,477 (1.0%) 0.00 190
    2023-04-01 $255,000 (-0.1%) $321,616 (-13.1%) 0.00 190
    2023-05-01 $275,000 (0.5%) $331,670 (-11.7%) 0.00 205
    2023-06-01 $276,463 (5.7%) $338,445 (-8.4%) 0.00 215
    2023-07-01 $289,000 (5.1%) $347,118 (-2.0%) 0.00 224
    2023-08-01 $283,475 (1.3%) $343,762 (0.7%) 0.00 226
    2023-09-01 $299,900 (11.0%) $350,059 (10.9%) 0.00 232
    2023-10-01 $287,495 (15.0%) $348,466 (6.4%) 0.00 227
    2023-11-01 $289,500 (15.8%) $351,510 (8.0%) 0.00 231
    2023-12-01 $285,919 (14.4%) $352,647 (9.4%) 0.00 228
    2024-01-01 $297,000 (19.8%) $354,953 (10.6%) 0.00 212
    2024-02-01 $299,044 (20.8%) $356,089 (13.2%) 0.00 218
    2024-03-01 $299,900 (20.0%) $351,655 (9.7%) 0.00 234
    2024-04-01 $299,697 (17.5%) $359,910 (11.9%) 0.00 238
    2024-05-01 $312,466 (13.6%) $365,007 (10.1%) 0.00 253
    2024-06-01 $319,000 (15.4%) $372,934 (10.2%) 0.00 265
    2024-07-01 $323,925 (12.1%) $373,339 (7.6%) 0.00 261
    2024-08-01 $325,000 (14.7%) $375,378 (9.2%) 0.00 247
    2024-09-01 $325,000 (8.4%) $379,270 (8.3%) 0.00 241
    2024-10-01 $325,000 (13.1%) $379,242 (8.8%) 0.00 238
    Bay City's median listing price for 2024-10-01 was $325,000, a difference of $37,505 (13.1%) versus the prior year and $0 versus the prior month.

    Bay City's median listing price comes in at 0% of the national average.

    Bay City's average listing price for 2024-10-01 was $379,242, a difference of $30,776 (8.8%) versus the prior year and $-28 versus the prior month.

    For the 2024-10-01 period, Bay City had 238 MLS listings, a difference of -3 listings (-1%) versus the prior month and 11 listings (5%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Bay City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,495 sqft
    2018-02-01 0 days 1,489 sqft
    2018-03-01 0 days 1,490 sqft
    2018-04-01 0 days 1,494 sqft
    2018-05-01 0 days 1,512 sqft
    2018-06-01 0 days 1,536 sqft
    2018-07-01 0 days 1,584 sqft
    2018-08-01 0 days 1,620 sqft
    2018-09-01 0 days 1,622 sqft
    2018-10-01 0 days 1,600 sqft
    2018-11-01 0 days 1,607 sqft
    2018-12-01 0 days 1,624 sqft
    2019-01-01 0 days 1,597 sqft
    2019-02-01 0 days 1,560 sqft
    2019-03-01 0 days 1,540 sqft
    2019-04-01 0 days 1,512 sqft
    2019-05-01 0 days 1,508 sqft
    2019-06-01 0 days 1,512 sqft
    2019-07-01 0 days 1,526 sqft
    2019-08-01 0 days 1,551 sqft
    2019-09-01 0 days 1,573 sqft
    2019-10-01 0 days 1,592 sqft
    2019-11-01 0 days 1,620 sqft
    2019-12-01 0 days 1,591 sqft
    2020-01-01 0 days 1,589 sqft
    2020-02-01 0 days 1,577 sqft
    2020-03-01 0 days 1,575 sqft
    2020-04-01 0 days 1,572 sqft
    2020-05-01 0 days 1,568 sqft
    2020-06-01 0 days 1,571 sqft
    2020-07-01 0 days 1,559 sqft
    2020-08-01 0 days 1,619 sqft
    2020-09-01 0 days 1,585 sqft
    2020-10-01 0 days 1,601 sqft
    2020-11-01 0 days 1,623 sqft
    2020-12-01 0 days 1,610 sqft
    2021-01-01 0 days 1,599 sqft
    2021-02-01 0 days 1,556 sqft
    2021-03-01 0 days 1,558 sqft
    2021-04-01 0 days 1,543 sqft
    2021-05-01 0 days 1,549 sqft
    2021-06-01 0 days 1,555 sqft
    2021-07-01 0 days 1,537 sqft
    2021-08-01 0 days 1,605 sqft
    2021-09-01 0 days 1,569 sqft
    2021-10-01 0 days 1,525 sqft
    2021-11-01 0 days 1,467 sqft
    2021-12-01 0 days 1,449 sqft
    2022-01-01 0 days 1,492 sqft
    2022-02-01 0 days 1,528 sqft
    2022-03-01 0 days 1,462 sqft
    2022-04-01 0 days 1,511 sqft
    2022-05-01 0 days 1,560 sqft
    2022-06-01 0 days 1,549 sqft
    2022-07-01 0 days 1,579 sqft
    2022-08-01 0 days 1,607 sqft
    2022-09-01 0 days 1,621 sqft
    2022-10-01 0 days 1,656 sqft
    2022-11-01 0 days 1,624 sqft
    2022-12-01 0 days 1,616 sqft
    2023-01-01 0 days 1,618 sqft
    2023-02-01 0 days 1,609 sqft
    2023-03-01 0 days 1,608 sqft
    2023-04-01 0 days 1,607 sqft
    2023-05-01 0 days 1,581 sqft
    2023-06-01 0 days 1,585 sqft
    2023-07-01 0 days 1,624 sqft
    2023-08-01 0 days 1,586 sqft
    2023-09-01 0 days 1,630 sqft
    2023-10-01 0 days 1,612 sqft
    2023-11-01 0 days 1,618 sqft
    2023-12-01 0 days 1,660 sqft
    2024-01-01 0 days 1,632 sqft
    2024-02-01 0 days 1,678 sqft
    2024-03-01 0 days 1,675 sqft
    2024-04-01 0 days 1,646 sqft
    2024-05-01 0 days 1,646 sqft
    2024-06-01 0 days 1,664 sqft
    2024-07-01 0 days 1,698 sqft
    2024-08-01 0 days 1,706 sqft
    2024-09-01 0 days 1,748 sqft
    2024-10-01 0 days 1,722 sqft
    Bay City's median listing age (time on market) for 2024-10-01 was 0 days.

    Bay City's median square footage for active listings during the 2024-10-01 period was 1,722 sqft. One year prior, the average listing was 1,612 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.