Chattanooga VA Loans
CHATTANOOGA, TN-GA
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 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.
Chattanooga's 155 lenders originated 2,133 VA loans during 2021. The total origination value was $550,465,000, with an average VA loan value of $258,071.
Chattanooga VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Chattanooga
averaged
5.73%
for the week of 2022-05-13, compared to the national average (all VA variants) of
5.158% for the same period.
The average rate for the prior week (2022-05-06) was
5.76% and
one month ago for the week of 2022-04-08, the
average rate was 5.18%.
The average rate one year ago was 3.29%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.51%.
Chattanooga VA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Chattanooga level.
The top Chattanooga VA lender as defined by loan originations is Mortgage Research Center, LLC, with
205 VA loans originated. Their average total fees are
$5,499, which is $169
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Chattanooga VA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($2,599), FREEDOM MORTGAGE CORPORATION ($2,635), Low VA Rates, LLC ($2,688), VILLAGE CAPITAL & INVESTMENT LLC ($3,082) and Mr. Cooper ( Nationstar Mortgage ) ($3,388).
The lowest rate Chattanooga VA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC (2.29%), CLEARPATH LENDING (2.30%), FREEDOM MORTGAGE CORPORATION (2.43%), Low VA Rates, LLC (2.48%) and UNITED WHOLESALE MORTGAGE, LLC (2.50%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Chattanooga (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $229,900 (8.4%) | $305,578 (5.8%) | 0.85 | 1,960 |
2018-02-01 | $232,400 (6.1%) | $316,453 (7.8%) | 0.84 | 1,928 |
2018-03-01 | $249,000 (11.9%) | $328,142 (9.0%) | 0.86 | 1,895 |
2018-04-01 | $260,000 (13.5%) | $341,780 (9.7%) | 0.87 | 1,889 |
2018-05-01 | $274,450 (14.5%) | $352,338 (10.0%) | 0.92 | 1,958 |
2018-06-01 | $269,900 (12.5%) | $347,251 (-7.5%) | 0.90 | 2,167 |
2018-07-01 | $269,000 (12.1%) | $344,022 (-7.3%) | 0.90 | 2,296 |
2018-08-01 | $269,450 (12.3%) | $343,747 (8.7%) | 0.90 | 2,354 |
2018-09-01 | $268,500 (11.9%) | $340,617 (5.9%) | 0.90 | 2,414 |
2018-10-01 | $269,450 (12.3%) | $339,896 (5.6%) | 0.90 | 2,428 |
2018-11-01 | $272,000 (18.3%) | $343,339 (9.2%) | 0.91 | 2,472 |
2018-12-01 | $269,900 (14.9%) | $337,861 (7.8%) | 0.92 | 2,389 |
2019-01-01 | $269,000 (17.0%) | $335,364 (9.8%) | 0.93 | 2,243 |
2019-02-01 | $269,700 (16.1%) | $335,754 (6.1%) | 0.90 | 2,221 |
2019-03-01 | $283,000 (13.7%) | $344,993 (5.1%) | 0.92 | 2,145 |
2019-04-01 | $295,000 (13.5%) | $355,026 (3.9%) | 0.93 | 2,121 |
2019-05-01 | $295,000 (7.5%) | $360,534 (2.3%) | 0.91 | 2,220 |
2019-06-01 | $289,900 (7.4%) | $353,764 (1.9%) | 0.89 | 2,270 |
2019-07-01 | $289,900 (7.8%) | $348,947 (1.4%) | 0.90 | 2,366 |
2019-08-01 | $289,786 (7.6%) | $347,283 (1.0%) | 0.91 | 2,328 |
2019-09-01 | $289,900 (8.0%) | $350,282 (2.8%) | 0.92 | 2,259 |
2019-10-01 | $285,000 (5.8%) | $345,954 (1.8%) | 0.91 | 2,328 |
2019-11-01 | $290,000 (6.6%) | $347,917 (1.3%) | 0.94 | 2,258 |
2019-12-01 | $295,000 (9.3%) | $350,185 (3.7%) | 0.98 | 2,065 |
2020-01-01 | $290,000 (7.8%) | $348,974 (4.1%) | 0.97 | 1,854 |
2020-02-01 | $299,900 (11.2%) | $359,869 (7.2%) | 0.97 | 1,680 |
2020-03-01 | $309,491 (9.4%) | $366,202 (6.2%) | 0.97 | 1,685 |
2020-04-01 | $314,750 (6.7%) | $374,272 (5.4%) | 0.98 | 1,685 |
2020-05-01 | $329,900 (11.8%) | $397,707 (10.3%) | 1.00 | 1,606 |
2020-06-01 | $336,200 (16.0%) | $423,821 (19.8%) | 0.98 | 1,427 |
2020-07-01 | $339,900 (17.3%) | $432,996 (24.1%) | 0.97 | 1,287 |
2020-08-01 | $337,000 (16.3%) | $421,414 (21.4%) | 0.96 | 1,197 |
2020-09-01 | $329,212 (13.6%) | $422,765 (20.7%) | 0.94 | 1,162 |
2020-10-01 | $322,968 (13.3%) | $426,281 (23.2%) | 0.92 | 1,109 |
2020-11-01 | $314,950 (8.6%) | $423,058 (21.6%) | 0.90 | 1,097 |
2020-12-01 | $313,950 (6.4%) | $425,318 (21.5%) | 0.92 | 1,021 |
2021-01-01 | $322,500 (11.2%) | $440,649 (26.3%) | 0.95 | 811 |
2021-02-01 | $339,700 (13.3%) | $465,772 (29.4%) | 0.98 | 587 |
2021-03-01 | $354,900 (14.7%) | $471,205 (28.7%) | 1.00 | 555 |
2021-04-01 | $355,450 (12.9%) | $481,288 (28.6%) | 0.96 | 546 |
2021-05-01 | $349,000 (5.8%) | $499,900 (25.7%) | 0.92 | 579 |
2021-06-01 | $349,250 (3.9%) | $509,752 (20.3%) | 0.91 | 656 |
2021-07-01 | $334,450 (-1.6%) | $478,768 (10.6%) | 0.87 | 764 |
2021-08-01 | $319,500 (-5.2%) | $465,556 (10.5%) | 0.84 | 909 |
2021-09-01 | $327,000 (-0.7%) | $460,867 (9.0%) | 0.86 | 902 |
2021-10-01 | $329,000 (1.9%) | $482,638 (13.2%) | 0.87 | 811 |
2021-11-01 | $340,000 (8.0%) | $499,472 (18.1%) | 0.90 | 683 |
2021-12-01 | $337,450 (7.5%) | $496,307 (16.7%) | 0.90 | 601 |
2022-01-01 | $314,999 (-2.3%) | $486,637 (10.4%) | 0.84 | 544 |
2022-02-01 | $339,900 (0.1%) | $515,565 (10.7%) | 0.87 | 476 |
2022-03-01 | $340,000 (-4.2%) | $528,702 (12.2%) | 0.84 | 501 |
2022-04-01 | $399,900 (12.5%) | $564,994 (17.4%) | 0.94 | 569 |
Chattanooga's median listing price comes in at 94% of the national average.
Chattanooga's average listing price for 2022-04-01 was $564,994, a difference of $83,706 (17.4%) versus the prior year and $36,292 versus the prior month.
For the 2022-04-01 period, Chattanooga had 569 MLS listings, a difference of 68 listings (14%) versus the prior month and 23 listings (4%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Chattanooga (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 81 days | 2,066 sqft |
2018-02-01 | 79 days | 2,065 sqft |
2018-03-01 | 60 days | 2,102 sqft |
2018-04-01 | 58 days | 2,186 sqft |
2018-05-01 | 54 days | 2,211 sqft |
2018-06-01 | 51 days | 2,158 sqft |
2018-07-01 | 54 days | 2,169 sqft |
2018-08-01 | 61 days | 2,160 sqft |
2018-09-01 | 62 days | 2,156 sqft |
2018-10-01 | 66 days | 2,174 sqft |
2018-11-01 | 70 days | 2,185 sqft |
2018-12-01 | 76 days | 2,179 sqft |
2019-01-01 | 85 days | 2,179 sqft |
2019-02-01 | 75 days | 2,158 sqft |
2019-03-01 | 58 days | 2,197 sqft |
2019-04-01 | 55 days | 2,228 sqft |
2019-05-01 | 51 days | 2,246 sqft |
2019-06-01 | 56 days | 2,234 sqft |
2019-07-01 | 58 days | 2,225 sqft |
2019-08-01 | 64 days | 2,223 sqft |
2019-09-01 | 64 days | 2,231 sqft |
2019-10-01 | 64 days | 2,229 sqft |
2019-11-01 | 67 days | 2,218 sqft |
2019-12-01 | 77 days | 2,222 sqft |
2020-01-01 | 81 days | 2,200 sqft |
2020-02-01 | 74 days | 2,200 sqft |
2020-03-01 | 53 days | 2,259 sqft |
2020-04-01 | 55 days | 2,280 sqft |
2020-05-01 | 65 days | 2,322 sqft |
2020-06-01 | 64 days | 2,335 sqft |
2020-07-01 | 63 days | 2,290 sqft |
2020-08-01 | 58 days | 2,240 sqft |
2020-09-01 | 50 days | 2,181 sqft |
2020-10-01 | 51 days | 2,100 sqft |
2020-11-01 | 54 days | 2,071 sqft |
2020-12-01 | 60 days | 2,042 sqft |
2021-01-01 | 74 days | 2,079 sqft |
2021-02-01 | 59 days | 2,090 sqft |
2021-03-01 | 41 days | 2,113 sqft |
2021-04-01 | 41 days | 2,111 sqft |
2021-05-01 | 28 days | 2,100 sqft |
2021-06-01 | 31 days | 2,041 sqft |
2021-07-01 | 31 days | 2,039 sqft |
2021-08-01 | 31 days | 2,004 sqft |
2021-09-01 | 37 days | 2,014 sqft |
2021-10-01 | 43 days | 2,072 sqft |
2021-11-01 | 43 days | 2,118 sqft |
2021-12-01 | 47 days | 2,040 sqft |
2022-01-01 | 52 days | 1,902 sqft |
2022-02-01 | 44 days | 1,914 sqft |
2022-03-01 | 35 days | 1,908 sqft |
2022-04-01 | 23 days | 2,100 sqft |
Chattanooga's median square footage for active listings during the 2022-04-01 period was 2,100 sqft. One year prior, the average listing was 2,111 sqft.