Brookhaven VA Loan Rates, Closing Costs & Stats

Brookhaven, MS

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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.

    Brookhaven's 5 lenders originated 16 VA loans during 2023. The total origination value was $3,460,000, with an average VA loan value of $216,250.

    Brookhaven VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Brookhaven averaged 0.15% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Brookhaven's average VA mortgage closing costs are $4,669.

    The average rate for the prior week (2024-11-08) was 6.86% and one month ago for the week of 2024-10-11, the average rate was 6.12%.

    The average rate one year ago was 7.61%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.2%.

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

    Brookhaven 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 Brookhaven level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 8 6.41% $6,780
    QUICKEN LOANS, LLC 5 6.00% $8,031
    CORNERSTONE HOME LENDING, INC. 1 7.25% $6,529
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $1,543
    Trustmark National Bank 1 6.75% $4,518

    The top Brookhaven VA lender as defined by loan originations is Mortgage Research Center, LLC, with 8 VA loans originated. Their average total fees are $6,780, which is $1,251 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Brookhaven VA lenders (with over 10 loans originated) are .

    The lowest rate Brookhaven VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Brookhaven (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 $148,875 (4.9%) $203,649 (18.6%) 0.00 79
    2018-02-01 $141,175 (-2.3%) $196,045 (13.3%) 0.00 80
    2018-03-01 $139,000 (-6.9%) $190,728 (11.1%) 0.00 85
    2018-04-01 $138,200 (-13.1%) $190,134 (-4.4%) 0.00 81
    2018-05-01 $164,225 (6.0%) $215,746 (12.0%) 0.00 82
    2018-06-01 $152,000 (-0.6%) $204,793 (11.5%) 0.00 91
    2018-07-01 $143,875 (-7.2%) $195,234 (6.5%) 0.00 99
    2018-08-01 $151,250 (-4.0%) $199,236 (13.2%) 0.00 93
    2018-09-01 $148,000 (-4.5%) $203,431 (14.9%) 0.00 94
    2018-10-01 $157,000 (1.1%) $207,231 (12.3%) 0.00 97
    2018-11-01 $164,500 (6.5%) $225,159 (14.3%) 0.00 108
    2018-12-01 $169,000 (13.0%) $224,792 (10.3%) 0.00 100
    2019-01-01 $171,100 (14.9%) $232,832 (14.3%) 0.00 103
    2019-02-01 $164,750 (16.7%) $232,820 (18.8%) 0.00 110
    2019-03-01 $154,357 (11.1%) $224,678 (17.8%) 0.00 113
    2019-04-01 $149,357 (8.1%) $217,713 (14.5%) 0.00 114
    2019-05-01 $149,250 (-9.1%) $201,206 (-6.7%) 0.00 111
    2019-06-01 $146,250 (-3.8%) $202,039 (-1.3%) 0.00 112
    2019-07-01 $149,900 (4.2%) $204,840 (4.9%) 0.00 101
    2019-08-01 $151,182 (-0.1%) $192,553 (-3.4%) 0.00 102
    2019-09-01 $149,955 (1.3%) $179,287 (-11.9%) 0.00 103
    2019-10-01 $149,636 (-4.7%) $177,146 (-14.5%) 0.00 99
    2019-11-01 $165,000 (0.3%) $195,139 (-13.3%) 0.00 98
    2019-12-01 $159,475 (-5.6%) $186,473 (-17.1%) 0.00 105
    2020-01-01 $163,600 (-4.4%) $187,688 (-19.4%) 0.00 101
    2020-02-01 $165,000 (0.2%) $196,185 (-15.7%) 0.00 109
    2020-03-01 $174,750 (13.2%) $204,063 (-9.2%) 0.00 105
    2020-04-01 $175,000 (17.2%) $205,035 (-5.8%) 0.00 99
    2020-05-01 $174,990 (17.3%) $207,187 (3.0%) 0.00 92
    2020-06-01 $170,125 (16.3%) $203,208 (0.6%) 0.00 80
    2020-07-01 $171,500 (14.4%) $210,603 (2.8%) 0.00 68
    2020-08-01 $162,250 (7.3%) $199,289 (3.5%) 0.00 59
    2020-09-01 $157,125 (4.8%) $200,633 (11.9%) 0.00 58
    2020-10-01 $147,500 (-1.4%) $203,776 (15.0%) 0.00 60
    2020-11-01 $149,925 (-9.1%) $219,919 (12.7%) 0.00 59
    2020-12-01 $152,500 (-4.4%) $217,610 (16.7%) 0.00 54
    2021-01-01 $150,000 (-8.3%) $203,949 (8.7%) 0.00 48
    2021-02-01 $178,125 (8.0%) $233,176 (18.9%) 0.00 40
    2021-03-01 $164,875 (-5.7%) $209,693 (2.8%) 0.00 36
    2021-04-01 $163,750 (-6.4%) $210,937 (2.9%) 0.00 33
    2021-05-01 $158,500 (-9.4%) $204,399 (-1.4%) 0.00 32
    2021-06-01 $181,225 (6.5%) $206,361 (1.6%) 0.00 34
    2021-07-01 $169,900 (-0.9%) $203,786 (-3.2%) 0.00 41
    2021-08-01 $185,000 (14.0%) $208,507 (4.6%) 0.00 47
    2021-09-01 $185,000 (17.7%) $214,243 (6.8%) 0.00 49
    2021-10-01 $180,000 (22.0%) $207,572 (1.9%) 0.00 44
    2021-11-01 $188,750 (25.9%) $206,825 (-6.0%) 0.00 38
    2021-12-01 $188,750 (23.8%) $214,115 (-1.6%) 0.00 40
    2022-01-01 $180,000 (20.0%) $205,945 (1.0%) 0.00 39
    2022-02-01 $203,000 (14.0%) $231,733 (-0.6%) 0.00 43
    2022-03-01 $217,000 (31.6%) $244,750 (16.7%) 0.00 46
    2022-04-01 $222,000 (35.6%) $247,878 (17.5%) 0.00 44
    2022-05-01 $255,250 (61.0%) $274,660 (34.4%) 0.00 40
    2022-06-01 $246,000 (35.7%) $277,191 (34.3%) 0.00 45
    2022-07-01 $235,000 (38.3%) $260,666 (27.9%) 0.00 53
    2022-08-01 $246,175 (33.1%) $283,550 (36.0%) 0.00 50
    2022-09-01 $239,975 (29.7%) $270,298 (26.2%) 0.00 52
    2022-10-01 $239,750 (33.2%) $275,448 (32.7%) 0.00 48
    2022-11-01 $222,400 (17.8%) $264,503 (27.9%) 0.00 48
    2022-12-01 $230,000 (21.9%) $272,767 (27.4%) 0.00 51
    2023-01-01 $233,750 (29.9%) $289,159 (40.4%) 0.00 53
    2023-02-01 $250,250 (23.3%) $293,450 (26.6%) 0.00 56
    2023-03-01 $211,225 (-2.7%) $269,617 (10.2%) 0.00 57
    2023-04-01 $188,000 (-15.3%) $242,530 (-2.2%) 0.00 56
    2023-05-01 $188,625 (-26.1%) $276,804 (0.8%) 0.00 45
    2023-06-01 $196,575 (-20.1%) $279,252 (0.7%) 0.00 43
    2023-07-01 $199,000 (-15.3%) $271,736 (4.3%) 0.00 48
    2023-08-01 $196,200 (-20.3%) $272,138 (-4.0%) 0.00 41
    2023-09-01 $196,250 (-18.2%) $274,752 (1.7%) 0.00 39
    2023-10-01 $198,625 (-17.2%) $275,250 (-0.1%) 0.00 44
    2023-11-01 $199,000 (-10.5%) $293,626 (11.0%) 0.00 46
    2023-12-01 $199,000 (-13.5%) $288,923 (5.9%) 0.00 54
    2024-01-01 $194,225 (-16.9%) $266,334 (-7.9%) 0.00 50
    2024-02-01 $199,225 (-20.4%) $275,104 (-6.3%) 0.00 45
    2024-03-01 $199,000 (-5.8%) $282,761 (4.9%) 0.00 47
    2024-04-01 $197,750 (5.2%) $239,181 (-1.4%) 0.00 49
    2024-05-01 $194,975 (3.4%) $222,779 (-19.5%) 0.00 49
    2024-06-01 $199,000 (1.2%) $259,153 (-7.2%) 0.00 50
    2024-07-01 $223,050 (12.1%) $274,916 (1.2%) 0.00 53
    2024-08-01 $249,500 (27.2%) $284,259 (4.5%) 0.00 51
    2024-09-01 $238,475 (21.5%) $277,023 (0.8%) 0.00 54
    2024-10-01 $219,363 (10.4%) $267,168 (-2.9%) 0.00 60
    Brookhaven's median listing price for 2024-10-01 was $219,363, a difference of $20,738 (10.4%) versus the prior year and $-19,112 versus the prior month.

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

    Brookhaven's average listing price for 2024-10-01 was $267,168, a difference of $-8,082 (-2.9%) versus the prior year and $-9,855 versus the prior month.

    For the 2024-10-01 period, Brookhaven had 60 MLS listings, a difference of 6 listings (11%) versus the prior month and 16 listings (36%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Brookhaven (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,126 sqft
    2018-02-01 0 days 2,100 sqft
    2018-03-01 0 days 2,045 sqft
    2018-04-01 0 days 2,008 sqft
    2018-05-01 0 days 2,220 sqft
    2018-06-01 0 days 2,045 sqft
    2018-07-01 0 days 1,921 sqft
    2018-08-01 0 days 1,985 sqft
    2018-09-01 0 days 1,984 sqft
    2018-10-01 0 days 2,012 sqft
    2018-11-01 0 days 2,016 sqft
    2018-12-01 0 days 2,016 sqft
    2019-01-01 0 days 2,036 sqft
    2019-02-01 0 days 2,042 sqft
    2019-03-01 0 days 1,994 sqft
    2019-04-01 0 days 1,979 sqft
    2019-05-01 0 days 1,916 sqft
    2019-06-01 0 days 1,949 sqft
    2019-07-01 0 days 1,947 sqft
    2019-08-01 0 days 1,934 sqft
    2019-09-01 0 days 1,914 sqft
    2019-10-01 0 days 1,913 sqft
    2019-11-01 0 days 1,953 sqft
    2019-12-01 0 days 2,000 sqft
    2020-01-01 0 days 1,917 sqft
    2020-02-01 0 days 1,977 sqft
    2020-03-01 0 days 2,074 sqft
    2020-04-01 0 days 2,018 sqft
    2020-05-01 0 days 2,094 sqft
    2020-06-01 0 days 2,101 sqft
    2020-07-01 0 days 2,095 sqft
    2020-08-01 0 days 2,137 sqft
    2020-09-01 0 days 2,113 sqft
    2020-10-01 0 days 2,104 sqft
    2020-11-01 0 days 2,064 sqft
    2020-12-01 0 days 1,983 sqft
    2021-01-01 0 days 1,962 sqft
    2021-02-01 0 days 2,027 sqft
    2021-03-01 0 days 1,871 sqft
    2021-04-01 0 days 1,940 sqft
    2021-05-01 0 days 1,740 sqft
    2021-06-01 0 days 1,942 sqft
    2021-07-01 0 days 1,976 sqft
    2021-08-01 0 days 1,981 sqft
    2021-09-01 0 days 1,881 sqft
    2021-10-01 0 days 1,823 sqft
    2021-11-01 0 days 1,945 sqft
    2021-12-01 0 days 1,910 sqft
    2022-01-01 0 days 2,002 sqft
    2022-02-01 0 days 2,052 sqft
    2022-03-01 0 days 2,108 sqft
    2022-04-01 0 days 2,137 sqft
    2022-05-01 0 days 2,293 sqft
    2022-06-01 0 days 2,264 sqft
    2022-07-01 0 days 2,157 sqft
    2022-08-01 0 days 2,190 sqft
    2022-09-01 0 days 2,155 sqft
    2022-10-01 0 days 2,083 sqft
    2022-11-01 0 days 2,006 sqft
    2022-12-01 0 days 2,024 sqft
    2023-01-01 0 days 2,275 sqft
    2023-02-01 0 days 2,300 sqft
    2023-03-01 0 days 2,207 sqft
    2023-04-01 0 days 1,920 sqft
    2023-05-01 0 days 1,950 sqft
    2023-06-01 0 days 1,946 sqft
    2023-07-01 0 days 1,950 sqft
    2023-08-01 0 days 1,921 sqft
    2023-09-01 0 days 1,962 sqft
    2023-10-01 0 days 1,893 sqft
    2023-11-01 0 days 2,000 sqft
    2023-12-01 0 days 2,000 sqft
    2024-01-01 0 days 2,000 sqft
    2024-02-01 0 days 2,031 sqft
    2024-03-01 0 days 2,107 sqft
    2024-04-01 0 days 1,951 sqft
    2024-05-01 0 days 1,877 sqft
    2024-06-01 0 days 1,967 sqft
    2024-07-01 0 days 2,049 sqft
    2024-08-01 0 days 2,122 sqft
    2024-09-01 0 days 2,100 sqft
    2024-10-01 0 days 1,910 sqft
    Brookhaven's median listing age (time on market) for 2024-10-01 was 0 days.

    Brookhaven's median square footage for active listings during the 2024-10-01 period was 1,910 sqft. One year prior, the average listing was 1,893 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.