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 71 lenders originated 206 VA loans during 2022. The total origination value was $66,080,000, with an average VA loan value of $320,777.

    Cookeville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Cookeville averaged 6.53% for the week of 2023-09-22, compared to the national average (all VA variants) of 6.823% for the same period.

    Cookeville's average VA mortgage closing costs are $5,710.

    The average rate for the prior week (2023-09-15) was 6.61% and one month ago for the week of 2023-08-18, the average rate was 6.89%.

    The average rate one year ago was 5.76%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.65%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 30 5.02% $8,813
    QUICKEN LOANS, LLC 14 4.22% $10,519
    DHI MORTGAGE COMPANY, LTD. 11 3.88% $10,248
    MORTGAGE INVESTORS GROUP, INC. 9 4.93% $5,471
    FREEDOM MORTGAGE CORPORATION 7 3.84% $14,936
    PENNYMAC LOAN SERVICES, LLC 7 3.96% $8,035
    NAVY FEDERAL CREDIT UNION 7 3.46% $6,556
    USAA Federal Savings Bank 7 4.82% $6,662
    BROKER SOLUTIONS, INC. 5 4.19% $10,436
    LOANDEPOT.COM, LLC 5 5.13% $9,973
    NEW DAY FINANCIAL, LLC 5 4.77% $13,662
    Wilson Bank And Trust 4 3.72% $4,448
    UNITED WHOLESALE MORTGAGE, LLC 4 3.70% $6,550
    VAN DYK MORTGAGE CORPORATION 4 5.78% $9,212
    Mid-Continent Funding, Inc. 4 5.84% $13,226
    The Federal Savings Bank 3 4.42% $20,008
    UNION HOME MORTGAGE CORP. 3 5.83% $12,531
    FirstBank 3 4.83% $6,385
    STOCKTON MORTGAGE CORPORATION 3 4.25% $7,087
    CMG MORTGAGE, INC. 3 5.54% $8,608
    U.S. Bank 2 4.31% $9,007
    MOVEMENT MORTGAGE, LLC 2 5.19% $6,391
    Mr. Cooper ( Nationstar Mortgage ) 2 5.94% $8,247
    Carrington Mortgage Services, LLC 2 5.25% $8,192
    GUARANTEED RATE, INC. 2 5.68% $3,364
    CRESCENT MORTGAGE COMPANY 2 3.13% $6,925
    GUARANTY MORTGAGE SERVICES, L.L.C. 2 5.25% $4,836
    AMERISAVE MORTGAGE CORPORATION 2 4.25% $10,269
    AMCAP MORTGAGE, LTD. 2 5.81% $10,338
    SUN WEST MORTGAGE COMPANY, INC. 2 3.60% $1,331
    FIRST COMMUNITY MORTGAGE, INC. 2 3.38% $4,065
    Regions Bank 1 3.63% $10,140
    RELIANCE FIRST CAPITAL, LLC 1 5.25% $4,987
    Renasant Bank 1 4.75% $7,806
    SECURITYNATIONAL MORTGAGE COMPANY 1 5.50% $2,224
    Stride Bank 1 4.75% $19,930
    SUCCESS MORTGAGE PARTNERS, INC. 1 2.75% $3,887
    VILLAGE CAPITAL MORTGAGE 1 4.25% $8,080
    Waterstone Mortgage Corporation 1 5.13% $23,290
    Wells Fargo Bank 1 3.50% $5,233
    LAKEVIEW LOAN SERVICING, LLC 1 2.75% $1,028
    AMERICAN FINANCIAL RESOURCES, INC. 1 4.50% $5,128
    AMERICAN HOME LENDING USA, LLC 1 6.13% $11,543
    AMERICAN MORTGAGE SERVICE COMPANY 1 5.25% $11,783
    AmRes Corporation 1 7.25% $14,750
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $19,900
    Armed Forces Bank 1 3.25% $17,942
    ASCEND FEDERAL CREDIT UNION 1 4.63% $3,656
    Austin Capital Bank SSB 1 4.75% $9,237
    Barrington Bank & Trust Company, N.A. 1 5.50% $9,046
    CALCON MUTUAL MORTGAGE LLC 1 5.50% $9,873
    CARDINAL FINANCIAL 1 5.25% $7,923
    CHURCHILL MORTGAGE CORPORATION 1 5.99% $13,562
    CLEARPATH LENDING 1 3.13% $20,980
    COMMUNITY MORTGAGE CORPORATION 1 4.75% $4,330
    CONTOUR MORTGAGE CORPORATION 1 4.88% $9,825
    CROSSCOUNTRY MORTGAGE, LLC 1 4.88% $9,493
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 4.63% $0
    First Horizon Bank 1 5.13% $2,346
    Flagstar Bank, FSB 1 5.25% $7,401
    F&M Bank 1 5.63% $6,237
    GUILD MORTGAGE COMPANY 1 4.63% $3,606
    HOME POINT FINANCIAL CORPORATION 1 4.75% $10,723
    ACADEMY MORTGAGE CORPORATION 1 5.25% $3,307
    Legacy Home Loans, LLC 1 5.13% $11,514
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.75% $3,107
    NATIONS DIRECT MORTGAGE, LLC 1 4.63% $12,666
    Nations Lending Corporation 1 5.25% $6,103
    NBH Bank 1 6.62% $991
    Pinnacle Bank 1 7.25% $6,870
    PLANET HOME LENDING, LLC 1 2.75% $1,552

    The top Cookeville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 30 VA loans originated. Their average total fees are $8,813, which is $1,706 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 ($8,813), DHI MORTGAGE COMPANY, LTD. ($10,248), QUICKEN LOANS, LLC ($10,519), .

    The lowest rate Cookeville VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (3.88%), QUICKEN LOANS, LLC (4.22%), Mortgage Research Center, LLC (5.02%), .

    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 (2.7%) $255,841 (0.9%) 0.00 410
    2018-02-01 $209,225 (7.3%) $254,906 (0.1%) 0.00 411
    2018-03-01 $210,000 (0.3%) $261,312 (-2.6%) 0.00 387
    2018-04-01 $217,707 (3.7%) $272,694 (-1.5%) 0.00 391
    2018-05-01 $224,900 (2.3%) $276,510 (-0.8%) 0.00 421
    2018-06-01 $227,000 (4.8%) $283,061 (2.4%) 0.00 422
    2018-07-01 $229,900 (7.6%) $281,352 (2.0%) 0.00 438
    2018-08-01 $231,950 (10.7%) $283,289 (1.3%) 0.00 437
    2018-09-01 $239,000 (10.0%) $289,873 (4.9%) 0.00 447
    2018-10-01 $239,929 (8.1%) $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 (10.2%) $295,868 (8.5%) 0.00 390
    2019-05-01 $244,929 (8.9%) $308,310 (11.5%) 0.00 394
    2019-06-01 $239,900 (5.7%) $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%) 0.00 447
    2019-10-01 $239,295 (-0.3%) $306,018 (8.6%) 0.00 452
    2019-11-01 $240,000 (0.4%) $309,226 (12.7%) 0.00 449
    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%) $316,337 (12.8%) 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%) $368,472 (21.9%) 0.00 225
    2020-10-01 $285,000 (19.1%) $373,258 (22.0%) 0.00 223
    2020-11-01 $283,625 (18.2%) $363,908 (17.7%) 0.00 229
    2020-12-01 $274,900 (13.6%) $368,509 (20.3%) 0.00 198
    2021-01-01 $277,450 (11.0%) $371,321 (19.9%) 0.00 189
    2021-02-01 $297,425 (14.4%) $394,372 (24.7%) 0.00 148
    2021-03-01 $287,450 (10.6%) $393,331 (23.1%) 0.00 139
    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 (32.0%) 0.00 229
    2021-10-01 $355,000 (24.6%) $503,988 (35.0%) 0.00 234
    2021-11-01 $371,150 (30.9%) $520,194 (43.0%) 0.00 215
    2021-12-01 $362,500 (31.9%) $512,471 (39.1%) 0.00 201
    2022-01-01 $369,900 (33.3%) $531,622 (43.2%) 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 (26.0%) 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 $391,000 (10.1%) $497,691 (-1.3%) 0.00 346
    2022-11-01 $372,500 (0.4%) $492,256 (-5.4%) 0.00 372
    2022-12-01 $368,900 (1.8%) $467,418 (-8.8%) 0.00 360
    2023-01-01 $359,950 (-2.7%) $466,622 (-12.2%) 0.00 347
    2023-02-01 $369,900 (-5.4%) $473,845 (-10.6%) 0.00 332
    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
    Cookeville's median listing price for 2023-08-01 was $404,916, a difference of $5,441 (1.4%) versus the prior year and $7,916 versus the prior month.

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

    Cookeville's average listing price for 2023-08-01 was $515,845, a difference of $12,747 (2.5%) versus the prior year and $23,093 versus the prior month.

    For the 2023-08-01 period, Cookeville had 322 MLS listings, a difference of 21 listings (7%) versus the prior month and 16 listings (5%) 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 1,822 sqft
    2018-02-01 0 days 1,847 sqft
    2018-03-01 0 days 1,904 sqft
    2018-04-01 0 days 1,985 sqft
    2018-05-01 0 days 1,990 sqft
    2018-06-01 0 days 1,980 sqft
    2018-07-01 0 days 2,016 sqft
    2018-08-01 0 days 2,023 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 1,967 sqft
    2020-10-01 0 days 1,962 sqft
    2020-11-01 0 days 1,888 sqft
    2020-12-01 0 days 1,906 sqft
    2021-01-01 0 days 1,904 sqft
    2021-02-01 0 days 2,023 sqft
    2021-03-01 0 days 1,973 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 2,326 sqft
    2022-01-01 0 days 2,309 sqft
    2022-02-01 0 days 2,198 sqft
    2022-03-01 0 days 2,004 sqft
    2022-04-01 0 days 2,068 sqft
    2022-05-01 0 days 2,049 sqft
    2022-06-01 0 days 2,063 sqft
    2022-07-01 0 days 2,047 sqft
    2022-08-01 0 days 2,076 sqft
    2022-09-01 0 days 1,968 sqft
    2022-10-01 0 days 2,008 sqft
    2022-11-01 0 days 1,923 sqft
    2022-12-01 0 days 1,871 sqft
    2023-01-01 0 days 1,865 sqft
    2023-02-01 0 days 1,858 sqft
    2023-03-01 0 days 1,807 sqft
    2023-04-01 0 days 1,838 sqft
    2023-05-01 0 days 1,887 sqft
    2023-06-01 0 days 2,000 sqft
    2023-07-01 0 days 1,932 sqft
    2023-08-01 0 days 1,950 sqft
    Cookeville's median listing age (time on market) for 2023-08-01 was 0 days.

    Cookeville's median square footage for active listings during the 2023-08-01 period was 1,950 sqft. One year prior, the average listing was 2,076 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.