Cookeville VA Loan Rates, Closing Costs & Stats

Cookeville, TN

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.

Cookeville's 44 lenders originated 145 VA loans during 2023. The total origination value was $44,435,000, with an average VA loan value of $306,448.

Cookeville VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Cookeville averaged 6.48% for the week of 2024-05-17, compared to the national average (all VA variants) of 6.502% for the same period.

Cookeville's average VA mortgage closing costs are $6,036.

The average rate for the prior week (2024-05-10) was 6.98% and one month ago for the week of 2024-04-12, the average rate was 6.87%.

The average rate one year ago was 6.17%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.09%.

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

Cookeville 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 Cookeville level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 23 6.57% $5,412
QUICKEN LOANS, LLC 11 6.04% $10,584
PENNYMAC LOAN SERVICES, LLC 7 5.43% $8,531
UNION HOME MORTGAGE CORP. 7 6.39% $9,488
GUARANTY MORTGAGE SERVICES, L.L.C. 6 6.90% $9,182
UNITED WHOLESALE MORTGAGE, LLC 5 5.97% $15,056
AMCAP MORTGAGE, LTD. 5 7.00% $13,330
VAN DYK MORTGAGE CORPORATION 5 6.65% $3,633
FirstBank 4 6.25% $6,281
MORTGAGE INVESTORS GROUP, INC. 4 6.28% $7,291
NAVY FEDERAL CREDIT UNION 4 5.84% $6,931
CROSSCOUNTRY MORTGAGE, LLC 4 6.47% $9,734
USAA Federal Savings Bank 4 6.34% $9,176
STOCKTON MORTGAGE CORPORATION 3 6.38% $8,840
PENTAGON FEDERAL CREDIT UNION 3 6.21% $4,806
FIRST COMMUNITY MORTGAGE, INC. 3 6.96% $6,639
AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.33% $13,750
GUARANTEED RATE, INC. 3 5.99% $5,694
CARDINAL FINANCIAL 3 7.04% $14,091
The Federal Savings Bank 2 6.25% $13,081
EMBRACE HOME LOANS, INC. 2 6.38% $6,464
MOVEMENT MORTGAGE, LLC 2 6.44% $10,595
NEW DAY FINANCIAL, LLC 2 7.81% $9,654
VILLAGE CAPITAL MORTGAGE 1 5.75% $7,228
Barrington Bank & Trust Company, N.A. 1 6.50% $7,849
Capital City Home Loans, LLC 1 6.50% $23,961
CapStar Bank 1 6.25% $3,567
CHURCHILL MORTGAGE CORPORATION 1 6.25% $8,097
CMG MORTGAGE, INC. 1 6.75% $9,086
Commerce Home Mortgage, Inc. 1 7.13% $1,229
EVERETT FINANCIAL, INC. 1 6.63% $2,188
First Federal Bank 1 6.00% $6,602
First Horizon Bank 1 6.25% $14,091
F&M Bank 1 5.63% $14,186
HOMESIDE FINANCIAL, LLC 1 6.75% $25,773
ISERVE RESIDENTIAL LENDING, LLC 1 6.00% $13,438
LAKEVIEW LOAN SERVICING, LLC 1 7.25% $9,128
Magnolia Bank 1 6.88% $16,182
NFM, INC. 1 7.00% $3,209
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.75% $9,658
RELIANCE FIRST CAPITAL, LLC 1 7.63% $16,015
SUN WEST MORTGAGE COMPANY, INC. 1 6.13% $13,687
Total Media Management, LLC 1 6.63% $11,907
ACOPIA, LLC 1 5.38% $17,498

The top Cookeville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 23 VA loans originated. Their average total fees are $5,412, which is $5,171 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Cookeville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,412), QUICKEN LOANS, LLC ($10,584), .

The lowest rate Cookeville VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.04%), Mortgage Research Center, LLC (6.57%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Cookeville (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 $204,475 (2.5%) $255,841 (0.9%) 0.00 410
2018-02-01 $209,225 (7.3%) $254,906 (0.0%) 0.00 411
2018-03-01 $210,000 (0.3%) $261,296 (-2.6%) 0.00 387
2018-04-01 $217,000 (3.4%) $272,646 (-1.6%) 0.00 390
2018-05-01 $223,650 (1.7%) $276,473 (-0.8%) 0.00 420
2018-06-01 $225,000 (3.7%) $283,044 (2.3%) 0.00 422
2018-07-01 $229,900 (7.0%) $281,352 (1.9%) 0.00 438
2018-08-01 $231,950 (10.7%) $283,286 (1.2%) 0.00 437
2018-09-01 $239,000 (11.2%) $289,873 (5.0%) 0.00 447
2018-10-01 $239,929 (8.6%) $281,723 (5.1%) 0.00 463
2018-11-01 $239,000 (12.5%) $274,399 (4.2%) 0.00 459
2018-12-01 $239,000 (13.9%) $271,709 (4.9%) 0.00 448
2019-01-01 $238,250 (16.5%) $275,308 (7.6%) 0.00 418
2019-02-01 $241,200 (15.3%) $280,443 (10.0%) 0.00 387
2019-03-01 $239,900 (14.2%) $289,264 (10.7%) 0.00 386
2019-04-01 $239,900 (10.6%) $295,868 (8.5%) 0.00 390
2019-05-01 $244,929 (9.5%) $308,310 (11.5%) 0.00 394
2019-06-01 $239,900 (6.6%) $302,206 (6.8%) 0.00 411
2019-07-01 $234,957 (2.2%) $292,748 (4.1%) 0.00 441
2019-08-01 $236,227 (1.8%) $296,906 (4.8%) 0.00 443
2019-09-01 $238,068 (-0.4%) $302,373 (4.3%) 0.00 448
2019-10-01 $239,295 (-0.3%) $306,018 (8.6%) 0.00 453
2019-11-01 $240,000 (0.4%) $309,226 (12.7%) 0.00 450
2019-12-01 $241,950 (1.2%) $306,321 (12.7%) 0.00 445
2020-01-01 $249,950 (4.9%) $309,789 (12.5%) 0.00 369
2020-02-01 $259,900 (7.8%) $316,109 (12.7%) 0.00 346
2020-03-01 $259,900 (8.3%) $319,432 (10.4%) 0.00 339
2020-04-01 $261,179 (8.9%) $319,893 (8.1%) 0.00 326
2020-05-01 $262,450 (7.2%) $327,780 (6.3%) 0.00 300
2020-06-01 $274,925 (14.6%) $345,550 (14.3%) 0.00 269
2020-07-01 $276,350 (17.6%) $355,739 (21.5%) 0.00 254
2020-08-01 $279,900 (18.5%) $360,175 (21.3%) 0.00 241
2020-09-01 $284,900 (19.7%) $369,228 (22.1%) 0.00 225
2020-10-01 $287,450 (20.1%) $374,071 (22.2%) 0.00 222
2020-11-01 $284,850 (18.7%) $364,656 (17.9%) 0.00 228
2020-12-01 $274,900 (13.6%) $369,416 (20.6%) 0.00 197
2021-01-01 $279,900 (12.0%) $372,299 (20.2%) 0.00 188
2021-02-01 $297,425 (14.4%) $394,372 (24.8%) 0.00 148
2021-03-01 $287,450 (10.6%) $394,745 (23.6%) 0.00 138
2021-04-01 $317,450 (21.5%) $423,587 (32.4%) 0.00 131
2021-05-01 $317,500 (21.0%) $439,253 (34.0%) 0.00 146
2021-06-01 $309,900 (12.7%) $430,738 (24.7%) 0.00 162
2021-07-01 $329,900 (19.4%) $452,347 (27.2%) 0.00 195
2021-08-01 $362,000 (29.3%) $465,788 (29.3%) 0.00 242
2021-09-01 $382,400 (34.2%) $486,514 (31.8%) 0.00 229
2021-10-01 $356,950 (24.2%) $504,172 (34.8%) 0.00 234
2021-11-01 $372,400 (30.7%) $520,194 (42.7%) 0.00 215
2021-12-01 $362,482 (31.9%) $512,019 (38.6%) 0.00 201
2022-01-01 $369,900 (32.2%) $530,554 (42.5%) 0.00 181
2022-02-01 $390,800 (31.4%) $530,078 (34.4%) 0.00 153
2022-03-01 $354,900 (23.5%) $495,499 (25.5%) 0.00 171
2022-04-01 $367,458 (15.8%) $490,211 (15.7%) 0.00 188
2022-05-01 $382,200 (20.4%) $507,125 (15.5%) 0.00 205
2022-06-01 $398,000 (28.4%) $511,988 (18.9%) 0.00 239
2022-07-01 $399,000 (21.0%) $503,110 (11.2%) 0.00 294
2022-08-01 $399,475 (10.4%) $503,098 (8.0%) 0.00 306
2022-09-01 $383,450 (0.3%) $488,929 (0.5%) 0.00 320
2022-10-01 $395,000 (10.7%) $497,691 (-1.3%) 0.00 346
2022-11-01 $373,000 (0.2%) $492,718 (-5.3%) 0.00 371
2022-12-01 $369,000 (1.8%) $468,467 (-8.5%) 0.00 357
2023-01-01 $359,950 (-2.7%) $467,213 (-11.9%) 0.00 344
2023-02-01 $369,900 (-5.4%) $474,283 (-10.5%) 0.00 330
2023-03-01 $359,925 (1.4%) $472,975 (-4.6%) 0.00 306
2023-04-01 $362,450 (-1.4%) $476,715 (-2.8%) 0.00 293
2023-05-01 $392,600 (2.7%) $498,712 (-1.7%) 0.00 299
2023-06-01 $404,166 (1.6%) $499,022 (-2.5%) 0.00 303
2023-07-01 $397,000 (-0.5%) $492,752 (-2.1%) 0.00 301
2023-08-01 $404,916 (1.4%) $515,845 (2.5%) 0.00 322
2023-09-01 $405,000 (5.6%) $525,788 (7.5%) 0.00 335
2023-10-01 $399,500 (1.1%) $501,136 (0.7%) 0.00 354
2023-11-01 $395,000 (5.9%) $489,366 (-0.7%) 0.00 390
2023-12-01 $395,000 (7.1%) $480,283 (2.5%) 0.00 373
2024-01-01 $379,982 (5.6%) $469,461 (0.5%) 0.00 348
2024-02-01 $379,907 (2.7%) $460,889 (-2.8%) 0.00 332
2024-03-01 $379,000 (5.3%) $461,455 (-2.4%) 0.00 348
2024-04-01 $379,900 (4.8%) $463,450 (-2.8%) 0.00 347
Cookeville's median listing price for 2024-04-01 was $379,900, a difference of $17,450 (4.8%) versus the prior year and $900 versus the prior month.

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

Cookeville's average listing price for 2024-04-01 was $463,450, a difference of $-13,265 (-2.8%) versus the prior year and $1,995 versus the prior month.

For the 2024-04-01 period, Cookeville had 347 MLS listings, a difference of -1 listings (0%) versus the prior month and 54 listings (18%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Cookeville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,821 sqft
2018-02-01 0 days 1,847 sqft
2018-03-01 0 days 1,899 sqft
2018-04-01 0 days 1,985 sqft
2018-05-01 0 days 1,985 sqft
2018-06-01 0 days 1,980 sqft
2018-07-01 0 days 2,016 sqft
2018-08-01 0 days 2,022 sqft
2018-09-01 0 days 2,046 sqft
2018-10-01 0 days 2,038 sqft
2018-11-01 0 days 2,005 sqft
2018-12-01 0 days 2,004 sqft
2019-01-01 0 days 1,976 sqft
2019-02-01 0 days 1,959 sqft
2019-03-01 0 days 1,974 sqft
2019-04-01 0 days 2,005 sqft
2019-05-01 0 days 2,073 sqft
2019-06-01 0 days 2,000 sqft
2019-07-01 0 days 1,946 sqft
2019-08-01 0 days 1,966 sqft
2019-09-01 0 days 1,972 sqft
2019-10-01 0 days 1,976 sqft
2019-11-01 0 days 1,976 sqft
2019-12-01 0 days 1,954 sqft
2020-01-01 0 days 1,985 sqft
2020-02-01 0 days 2,000 sqft
2020-03-01 0 days 1,995 sqft
2020-04-01 0 days 1,983 sqft
2020-05-01 0 days 2,000 sqft
2020-06-01 0 days 2,010 sqft
2020-07-01 0 days 2,161 sqft
2020-08-01 0 days 2,028 sqft
2020-09-01 0 days 1,969 sqft
2020-10-01 0 days 1,966 sqft
2020-11-01 0 days 1,891 sqft
2020-12-01 0 days 1,910 sqft
2021-01-01 0 days 1,912 sqft
2021-02-01 0 days 2,023 sqft
2021-03-01 0 days 1,985 sqft
2021-04-01 0 days 2,076 sqft
2021-05-01 0 days 2,061 sqft
2021-06-01 0 days 1,970 sqft
2021-07-01 0 days 2,050 sqft
2021-08-01 0 days 2,172 sqft
2021-09-01 0 days 2,289 sqft
2021-10-01 0 days 2,352 sqft
2021-11-01 0 days 2,381 sqft
2021-12-01 0 days 2,317 sqft
2022-01-01 0 days 2,305 sqft
2022-02-01 0 days 2,193 sqft
2022-03-01 0 days 2,004 sqft
2022-04-01 0 days 2,059 sqft
2022-05-01 0 days 2,049 sqft
2022-06-01 0 days 2,063 sqft
2022-07-01 0 days 2,044 sqft
2022-08-01 0 days 2,077 sqft
2022-09-01 0 days 1,968 sqft
2022-10-01 0 days 2,004 sqft
2022-11-01 0 days 1,922 sqft
2022-12-01 0 days 1,872 sqft
2023-01-01 0 days 1,869 sqft
2023-02-01 0 days 1,858 sqft
2023-03-01 0 days 1,804 sqft
2023-04-01 0 days 1,837 sqft
2023-05-01 0 days 1,885 sqft
2023-06-01 0 days 2,000 sqft
2023-07-01 0 days 1,932 sqft
2023-08-01 0 days 1,952 sqft
2023-09-01 0 days 1,989 sqft
2023-10-01 0 days 1,993 sqft
2023-11-01 0 days 1,926 sqft
2023-12-01 0 days 1,942 sqft
2024-01-01 0 days 1,844 sqft
2024-02-01 0 days 1,811 sqft
2024-03-01 0 days 1,797 sqft
2024-04-01 0 days 1,822 sqft
Cookeville's median listing age (time on market) for 2024-04-01 was 0 days.

Cookeville's median square footage for active listings during the 2024-04-01 period was 1,822 sqft. One year prior, the average listing was 1,837 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.