Carbondale VA Loan Rates, Closing Costs & Stats

CARBONDALE-MARION, IL

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.

Carbondale's 50 lenders originated 248 VA loans during 2022. The total origination value was $49,920,000, with an average VA loan value of $201,290.

Carbondale VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Carbondale averaged -0.33% for the week of 2024-02-23, compared to the national average (all VA variants) of 0% for the same period.

Carbondale's average VA mortgage closing costs are $4,160.

The average rate for the prior week (2024-02-16) was 6.34% and one month ago for the week of 2024-01-19, the average rate was 5.9%.

The average rate one year ago was 5.91%.

For refis of the same type during the week of 2024-02-23, the average rate was -0.9%.

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

Carbondale 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 Carbondale level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 73 4.81% $4,553
QUICKEN LOANS, LLC 19 4.72% $8,208
NAVY FEDERAL CREDIT UNION 12 4.10% $4,462
U.S. Bank 12 4.70% $5,179
USAA Federal Savings Bank 11 4.28% $5,980
GUARANTEED RATE, INC. 9 5.51% $3,037
GERSHMAN INVESTMENT CORP. 8 5.48% $3,530
GUILD MORTGAGE COMPANY 6 5.98% $3,270
NEW DAY FINANCIAL, LLC 6 5.21% $5,592
PENNYMAC LOAN SERVICES, LLC 5 3.97% $7,555
Flagstar Bank, FSB 5 5.38% $4,780
Mr. Cooper ( Nationstar Mortgage ) 5 4.63% $6,798
LOANDEPOT.COM, LLC 4 4.88% $5,005
Hometown Lenders, Inc. 4 5.00% $6,972
Wells Fargo Bank 4 4.22% $3,056
Community Mortgage Banc Corporation 3 4.67% $2,842
FREEDOM MORTGAGE CORPORATION 3 4.75% $9,260
CARDINAL FINANCIAL 2 4.50% $6,750
First Option Mortgage, LLC 2 5.13% $3,847
FLAT BRANCH MORTGAGE, INC. 2 6.25% $9,685
Peoples National Bank , N.A. 2 4.75% $5,929
Regions Bank 2 5.38% $4,934
The Federal Savings Bank 2 5.63% $15,403
HOME POINT FINANCIAL CORPORATION 2 5.00% $3,281
VILLAGE CAPITAL MORTGAGE 2 2.50% $3,113
BROKER SOLUTIONS, INC. 2 3.68% $6,906
Barrington Bank & Trust Company, N.A. 2 5.25% $4,133
Wyndham Capital Mortgage, Inc. 1 2.38% $1,583
BELEM SERVICING LLC 1 1.75% $8,621
Carrington Mortgage Services, LLC 1 4.50% $21,376
Citizens Bank 1 6.38% $2,644
COMPASS MORTGAGE, INC. 1 4.75% $8,177
CROSSCOUNTRY MORTGAGE, LLC 1 5.63% $1,463
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.63% $1,710
FINANCE OF AMERICA MORTGAGE LLC 1 4.63% $2,401
Financial Funding Solutions, Inc. 1 3.38% $2,510
FIRST CENTENNIAL MORTGAGE CORPORATION 1 5.13% $4,214
LAKEVIEW LOAN SERVICING, LLC 1 5.25% $9,092
Low VA Rates, LLC 1 5.13% $7,008
MID AMERICA MORTGAGE, INC. 1 4.63% $2,486
Mid-Continent Funding, Inc. 1 4.50% $2,752
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.25% $3,358
MOVEMENT MORTGAGE, LLC 1 5.25% $550
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.25% $1,853
Nations Lending Corporation 1 5.75% $10,553
PENTAGON FEDERAL CREDIT UNION 1 4.25% $4,191
ROYAL UNITED MORTGAGE LLC 1 4.75% $9,776
SCOTT CREDIT UNION 1 3.00% $4,974
UNITED WHOLESALE MORTGAGE, LLC 1 4.75% $7,467
AMERISAVE MORTGAGE CORPORATION 1 3.63% $8,180

The top Carbondale VA lender as defined by loan originations is Mortgage Research Center, LLC, with 73 VA loans originated. Their average total fees are $4,553, which is $3,655 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Carbondale VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($4,462), Mortgage Research Center, LLC ($4,553), U.S. Bank ($5,179), USAA Federal Savings Bank ($5,980) and QUICKEN LOANS, LLC ($8,208).

The lowest rate Carbondale VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (4.10%), USAA Federal Savings Bank (4.28%), U.S. Bank (4.70%), QUICKEN LOANS, LLC (4.72%) and Mortgage Research Center, LLC (4.81%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Carbondale (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 $109,975 (4.0%) $151,270 (1.8%) 0.00 804
2018-02-01 $109,450 (3.7%) $150,672 (2.0%) 0.00 805
2018-03-01 $112,000 (3.8%) $149,767 (0.1%) 0.00 843
2018-04-01 $112,475 (-3.1%) $152,764 (-3.3%) 0.00 856
2018-05-01 $110,000 (-2.8%) $151,299 (-2.3%) 0.00 860
2018-06-01 $109,900 (-2.2%) $148,568 (-2.1%) 0.00 866
2018-07-01 $109,900 (-3.9%) $149,690 (-3.8%) 0.00 868
2018-08-01 $108,725 (-5.1%) $148,596 (-5.1%) 0.00 868
2018-09-01 $107,000 (-4.2%) $148,208 (-4.7%) 0.00 879
2018-10-01 $104,950 (-7.7%) $144,867 (-5.2%) 0.00 875
2018-11-01 $99,999 (-7.5%) $143,332 (-5.2%) 0.00 849
2018-12-01 $99,900 (-3.3%) $144,418 (-2.8%) 0.00 823
2019-01-01 $99,450 (-5.8%) $143,337 (-3.2%) 0.00 783
2019-02-01 $99,975 (-6.2%) $148,847 (-4.9%) 0.00 772
2019-03-01 $102,957 (-4.3%) $150,538 (-1.5%) 0.00 768
2019-04-01 $99,450 (-4.1%) $148,447 (-1.3%) 0.00 773
2019-05-01 $98,750 (-4.8%) $146,898 (-1.9%) 0.00 793
2019-06-01 $96,900 (-5.0%) $146,263 (-2.8%) 0.00 811
2019-07-01 $97,625 (-4.0%) $145,107 (-2.6%) 0.00 838
2019-08-01 $96,245 (-2.7%) $142,917 (-1.8%) 0.00 828
2019-09-01 $95,489 (-3.6%) $141,459 (-3.1%) 0.00 819
2019-10-01 $94,924 (1.3%) $140,487 (-2.3%) 0.00 809
2019-11-01 $95,250 (3.6%) $139,841 (-1.5%) 0.00 782
2019-12-01 $89,950 (-0.8%) $134,307 (-3.6%) 0.00 744
2020-01-01 $89,999 (-0.7%) $137,023 (-2.0%) 0.00 703
2020-02-01 $94,000 (0.6%) $132,622 (-2.6%) 0.00 719
2020-03-01 $95,749 (-0.2%) $137,152 (-1.8%) 0.00 718
2020-04-01 $94,874 (-1.4%) $135,747 (-4.8%) 0.00 711
2020-05-01 $99,000 (0.2%) $138,610 (-2.7%) 0.00 672
2020-06-01 $94,499 (-2.7%) $134,297 (-5.7%) 0.00 624
2020-07-01 $95,750 (-0.6%) $136,284 (-2.4%) 0.00 567
2020-08-01 $93,000 (-4.2%) $137,900 (-2.2%) 0.00 543
2020-09-01 $94,750 (-4.4%) $139,071 (1.8%) 0.00 517
2020-10-01 $98,500 (-5.4%) $138,968 (2.7%) 0.00 478
2020-11-01 $103,525 (-6.1%) $138,054 (2.1%) 0.00 452
2020-12-01 $100,425 (-6.7%) $137,741 (3.0%) 0.00 431
2021-01-01 $100,950 (-4.6%) $141,000 (4.5%) 0.00 392
2021-02-01 $106,175 (-8.6%) $150,188 (8.3%) 0.00 321
2021-03-01 $107,400 (-2.2%) $156,674 (9.8%) 0.00 297
2021-04-01 $111,000 (1.1%) $165,455 (17.6%) 0.00 273
2021-05-01 $99,000 (-4.2%) $151,293 (12.4%) 0.00 274
2021-06-01 $109,950 (-1.0%) $159,375 (22.8%) 0.00 279
2021-07-01 $93,450 (-7.8%) $146,742 (18.1%) 0.00 290
2021-08-01 $89,225 (-12.4%) $146,155 (21.4%) 0.00 281
2021-09-01 $91,200 (-2.5%) $153,562 (24.9%) 0.00 299
2021-10-01 $99,900 (2.2%) $155,147 (31.4%) 0.00 293
2021-11-01 $77,438 (-20.1%) $143,363 (28.9%) 0.00 280
2021-12-01 $74,925 (-10.6%) $138,542 (25.2%) 0.00 291
2022-01-01 $69,000 (-17.3%) $117,471 (13.5%) 0.00 290
2022-02-01 $54,725 (-30.2%) $94,029 (0.4%) 0.00 314
2022-03-01 $68,225 (-17.8%) $106,304 (15.2%) 0.00 229
2022-04-01 $79,900 (0.4%) $131,134 (25.4%) 0.00 225
2022-05-01 $92,625 (6.6%) $152,900 (30.4%) 0.00 227
2022-06-01 $111,000 (7.7%) $158,427 (22.1%) 0.00 246
2022-07-01 $104,900 (19.6%) $157,425 (21.8%) 0.00 286
2022-08-01 $113,000 (28.8%) $161,280 (14.9%) 0.00 301
2022-09-01 $115,000 (16.1%) $184,693 (10.1%) 0.00 294
2022-10-01 $109,800 (6.3%) $178,108 (-4.8%) 0.00 315
2022-11-01 $111,981 (35.4%) $179,749 (0.5%) 0.00 332
2022-12-01 $111,963 (23.9%) $187,024 (9.2%) 0.00 302
2023-01-01 $114,925 (42.4%) $187,058 (21.8%) 0.00 283
2023-02-01 $114,725 (73.4%) $184,560 (39.5%) 0.00 240
2023-03-01 $114,900 (35.9%) $195,247 (17.8%) 0.00 216
2023-04-01 $112,000 (12.6%) $188,886 (8.9%) 0.00 218
2023-05-01 $105,950 (6.7%) $183,449 (7.8%) 0.00 224
2023-06-01 $96,850 (22.5%) $184,667 (18.2%) 0.00 225
2023-07-01 $108,000 (28.6%) $202,761 (23.1%) 0.00 241
2023-08-01 $99,925 (17.9%) $189,887 (18.1%) 0.00 253
2023-09-01 $107,000 (21.3%) $193,057 (14.1%) 0.00 273
2023-10-01 $108,750 (20.0%) $179,220 (22.1%) 0.00 277
2023-11-01 $124,725 (25.3%) $190,382 (17.9%) 0.00 275
2023-12-01 $110,000 (0.0%) $175,290 (0.0%) 0.00 0
Carbondale's median listing price for 2023-12-01 was $110,000, a difference of $-1,963 (0.0%) versus the prior year and $-14,725 versus the prior month.

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

Carbondale's average listing price for 2023-12-01 was $175,290, a difference of $-11,734 (0.0%) versus the prior year and $-15,092 versus the prior month.

For the 2023-12-01 period, Carbondale had 0 MLS listings, a difference of -275 listings (-100%) versus the prior month and -302 listings (-100%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Carbondale (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,636 sqft
2018-02-01 0 days 1,608 sqft
2018-03-01 0 days 1,612 sqft
2018-04-01 0 days 1,652 sqft
2018-05-01 0 days 1,653 sqft
2018-06-01 0 days 1,628 sqft
2018-07-01 0 days 1,622 sqft
2018-08-01 0 days 1,653 sqft
2018-09-01 0 days 1,679 sqft
2018-10-01 0 days 1,616 sqft
2018-11-01 0 days 1,619 sqft
2018-12-01 0 days 1,615 sqft
2019-01-01 0 days 1,595 sqft
2019-02-01 0 days 1,602 sqft
2019-03-01 0 days 1,627 sqft
2019-04-01 0 days 1,641 sqft
2019-05-01 0 days 1,612 sqft
2019-06-01 0 days 1,600 sqft
2019-07-01 0 days 1,602 sqft
2019-08-01 0 days 1,596 sqft
2019-09-01 0 days 1,598 sqft
2019-10-01 0 days 1,600 sqft
2019-11-01 0 days 1,578 sqft
2019-12-01 0 days 1,505 sqft
2020-01-01 0 days 1,521 sqft
2020-02-01 0 days 1,500 sqft
2020-03-01 0 days 1,578 sqft
2020-04-01 0 days 1,528 sqft
2020-05-01 0 days 1,547 sqft
2020-06-01 0 days 1,580 sqft
2020-07-01 0 days 1,588 sqft
2020-08-01 0 days 1,489 sqft
2020-09-01 0 days 1,467 sqft
2020-10-01 0 days 1,465 sqft
2020-11-01 0 days 1,506 sqft
2020-12-01 0 days 1,449 sqft
2021-01-01 0 days 1,450 sqft
2021-02-01 0 days 1,478 sqft
2021-03-01 0 days 1,477 sqft
2021-04-01 0 days 1,474 sqft
2021-05-01 0 days 1,501 sqft
2021-06-01 0 days 1,532 sqft
2021-07-01 0 days 1,450 sqft
2021-08-01 0 days 1,430 sqft
2021-09-01 0 days 1,402 sqft
2021-10-01 0 days 1,411 sqft
2021-11-01 0 days 1,245 sqft
2021-12-01 0 days 1,231 sqft
2022-01-01 0 days 1,208 sqft
2022-02-01 0 days 1,152 sqft
2022-03-01 0 days 1,206 sqft
2022-04-01 0 days 1,325 sqft
2022-05-01 0 days 1,317 sqft
2022-06-01 0 days 1,414 sqft
2022-07-01 0 days 1,530 sqft
2022-08-01 0 days 1,574 sqft
2022-09-01 0 days 1,592 sqft
2022-10-01 0 days 1,600 sqft
2022-11-01 0 days 1,621 sqft
2022-12-01 0 days 1,613 sqft
2023-01-01 0 days 1,616 sqft
2023-02-01 0 days 1,616 sqft
2023-03-01 0 days 1,580 sqft
2023-04-01 0 days 1,605 sqft
2023-05-01 0 days 1,628 sqft
2023-06-01 0 days 1,613 sqft
2023-07-01 0 days 1,633 sqft
2023-08-01 0 days 1,656 sqft
2023-09-01 0 days 1,633 sqft
2023-10-01 0 days 1,559 sqft
2023-11-01 0 days 1,659 sqft
2023-12-01 0 days 1,649 sqft
Carbondale's median listing age (time on market) for 2023-12-01 was 0 days.

Carbondale's median square footage for active listings during the 2023-12-01 period was 1,649 sqft. One year prior, the average listing was 1,613 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.