Cookeville VA Loan Rates, Closing Costs & Stats

Cookeville, TN

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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.

    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 6.25% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

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

    The average rate for the prior week (2024-12-06) was 6.19% and one month ago for the week of 2024-11-08, the average rate was 6.58%.

    The average rate one year ago was 6.93%.

    For refis of the same type during the week of 2024-12-13, the average rate was 5.97%.

    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
    2024-05-01 $388,682 (-1.0%) $473,820 (-5.0%) 0.00 342
    2024-06-01 $383,900 (-5.0%) $466,536 (-6.5%) 0.00 363
    2024-07-01 $387,450 (-2.4%) $466,185 (-5.4%) 0.00 412
    2024-08-01 $384,200 (-5.1%) $464,665 (-9.9%) 0.00 443
    2024-09-01 $377,450 (-6.8%) $450,667 (-14.3%) 0.00 490
    2024-10-01 $371,175 (-7.1%) $453,310 (-9.5%) 0.00 475
    2024-11-01 $369,325 (-6.5%) $447,837 (-8.5%) 0.00 490
    Cookeville's median listing price for 2024-11-01 was $369,325, a difference of $-25,675 (-6.5%) versus the prior year and $-1,850 versus the prior month.

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

    Cookeville's average listing price for 2024-11-01 was $447,837, a difference of $-41,529 (-8.5%) versus the prior year and $-5,473 versus the prior month.

    For the 2024-11-01 period, Cookeville had 490 MLS listings, a difference of 15 listings (3%) versus the prior month and 100 listings (26%) 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
    2024-05-01 0 days 1,875 sqft
    2024-06-01 0 days 1,866 sqft
    2024-07-01 0 days 1,834 sqft
    2024-08-01 0 days 1,812 sqft
    2024-09-01 0 days 1,813 sqft
    2024-10-01 0 days 1,798 sqft
    2024-11-01 0 days 1,752 sqft
    Cookeville's median listing age (time on market) for 2024-11-01 was 0 days.

    Cookeville's median square footage for active listings during the 2024-11-01 period was 1,752 sqft. One year prior, the average listing was 1,926 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.