Cullman VA Loan Rates, Closing Costs & Stats

Cullman, AL

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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.

    Cullman's 44 lenders originated 131 VA loans during 2023. The total origination value was $38,065,000, with an average VA loan value of $290,573.

    Cullman VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Cullman averaged 7.08% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Cullman's average VA mortgage closing costs are $5,384.

    The average rate for the prior week (2024-04-12) was 6.51% and one month ago for the week of 2024-03-15, the average rate was 6.67%.

    The average rate one year ago was 6.06%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Cullman 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 Cullman level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 24 6.89% $4,828
    QUICKEN LOANS, LLC 8 6.01% $10,859
    FREEDOM MORTGAGE CORPORATION 8 6.63% $7,686
    UNITED WHOLESALE MORTGAGE, LLC 6 6.48% $12,249
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.98% $11,670
    EAGLE HOME MORTGAGE, LLC 4 4.78% $247
    NEW DAY FINANCIAL, LLC 4 7.28% $11,636
    Prosperity Home Mortgage, LLC 4 6.65% $8,797
    DHI MORTGAGE COMPANY, LTD. 3 5.83% $3,536
    GUARANTEED RATE, INC. 3 6.33% $6,601
    GUILD MORTGAGE COMPANY 3 6.04% $6,079
    PENNYMAC LOAN SERVICES, LLC 3 5.50% $12,464
    USAA Federal Savings Bank 3 6.63% $8,602
    STOCKTON MORTGAGE CORPORATION 2 7.69% $5,984
    CARDINAL FINANCIAL 2 7.25% $16,154
    Consumer First Mortgage, Inc. 2 6.38% $8,270
    FirstBank 2 6.13% $9,352
    First Federal Bank, A FSB 2 6.13% $8,847
    LOANDEPOT.COM, LLC 2 4.94% $11,541
    MOVEMENT MORTGAGE, LLC 2 6.38% $6,768
    NAVY FEDERAL CREDIT UNION 2 5.44% $5,108
    ON Q FINANCIAL, INC. 2 6.44% $8,886
    REDSTONE Federal Credit Union 2 6.19% $2,572
    RELIANCE FIRST CAPITAL, LLC 2 6.94% $8,908
    SouthPoint Bank 2 6.13% $3,636
    NBKC BANK 1 5.00% $4,000
    GMFS LLC 1 5.63% $318
    The Federal Savings Bank 1 6.63% $8,949
    Paramount Residential Mortgage Group, Inc. 1 6.13% $3,660
    Gateway First Bank 1 6.75% $6,723
    PENTAGON FEDERAL CREDIT UNION 1 5.63% $3,375
    Plains Commerce Bank 1 5.75% $3,198
    Equity Prime Mortgage LLC 1 6.75% $1,843
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $1,247
    BROKER SOLUTIONS, INC. 1 6.50% $6,050
    Barrington Bank & Trust Company, N.A. 1 6.75% $18,259
    Renasant Bank 1 6.25% $13,211
    Hometown Equity Mortgage, LLC 1 6.13% $16,229
    LEADERONE FINANCIAL CORPORATION 1 6.75% $12,820
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 7.00% $1,070
    MICHIGAN MUTUAL, INC. 1 7.63% $243
    Hamilton Mortgage Corporation 1 6.75% $6,784
    Ameris Bank 1 6.63% $3,263
    Synovus Bank 1 6.75% $4,063

    The top Cullman VA lender as defined by loan originations is Mortgage Research Center, LLC, with 24 VA loans originated. Their average total fees are $4,828, which is $6,031 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Cullman VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,828), .

    The lowest rate Cullman VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.89%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Cullman (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 $202,450 (12.1%) $282,025 (9.7%) 0.00 555
    2018-02-01 $210,700 (17.1%) $283,009 (9.2%) 0.00 588
    2018-03-01 $214,900 (13.3%) $284,391 (7.9%) 0.00 577
    2018-04-01 $225,000 (13.7%) $291,264 (8.9%) 0.00 566
    2018-05-01 $225,000 (5.6%) $291,603 (4.4%) 0.00 563
    2018-06-01 $225,000 (-1.0%) $305,121 (3.5%) 0.00 569
    2018-07-01 $229,450 (4.3%) $308,220 (6.0%) 0.00 577
    2018-08-01 $233,325 (9.0%) $312,335 (9.4%) 0.00 587
    2018-09-01 $232,550 (10.8%) $308,604 (9.4%) 0.00 593
    2018-10-01 $225,000 (4.4%) $298,572 (4.9%) 0.00 586
    2018-11-01 $214,675 (-1.1%) $291,827 (2.7%) 0.00 586
    2018-12-01 $212,000 (1.0%) $286,208 (2.3%) 0.00 547
    2019-01-01 $206,950 (2.2%) $295,966 (4.9%) 0.00 527
    2019-02-01 $214,450 (1.8%) $308,191 (8.9%) 0.00 528
    2019-03-01 $220,193 (2.5%) $320,457 (12.7%) 0.00 535
    2019-04-01 $220,943 (-1.8%) $328,539 (12.8%) 0.00 550
    2019-05-01 $219,450 (-2.5%) $328,841 (12.8%) 0.00 566
    2019-06-01 $220,000 (-2.2%) $334,006 (9.5%) 0.00 556
    2019-07-01 $213,132 (-7.1%) $321,054 (4.2%) 0.00 604
    2019-08-01 $211,264 (-9.5%) $316,378 (1.3%) 0.00 637
    2019-09-01 $213,309 (-8.3%) $312,280 (1.2%) 0.00 689
    2019-10-01 $214,900 (-4.5%) $310,414 (4.0%) 0.00 716
    2019-11-01 $220,895 (2.9%) $315,253 (8.0%) 0.00 675
    2019-12-01 $234,450 (10.6%) $323,315 (13.0%) 0.00 622
    2020-01-01 $226,975 (9.7%) $323,580 (9.3%) 0.00 561
    2020-02-01 $234,895 (9.5%) $328,428 (6.6%) 0.00 547
    2020-03-01 $242,370 (10.1%) $333,420 (4.0%) 0.00 534
    2020-04-01 $244,566 (10.7%) $333,503 (1.5%) 0.00 502
    2020-05-01 $246,150 (12.2%) $331,388 (0.8%) 0.00 450
    2020-06-01 $263,375 (19.7%) $339,353 (1.6%) 0.00 366
    2020-07-01 $257,175 (20.7%) $345,137 (7.5%) 0.00 325
    2020-08-01 $252,450 (19.5%) $351,906 (11.2%) 0.00 293
    2020-09-01 $283,700 (33.0%) $368,084 (17.9%) 0.00 257
    2020-10-01 $271,450 (26.3%) $369,946 (19.2%) 0.00 240
    2020-11-01 $251,175 (13.7%) $349,925 (11.0%) 0.00 240
    2020-12-01 $247,400 (5.5%) $342,829 (6.0%) 0.00 230
    2021-01-01 $246,600 (8.7%) $355,427 (9.8%) 0.00 193
    2021-02-01 $262,125 (11.6%) $379,479 (15.5%) 0.00 192
    2021-03-01 $279,900 (15.5%) $397,230 (19.1%) 0.00 186
    2021-04-01 $277,450 (13.5%) $392,293 (17.6%) 0.00 184
    2021-05-01 $279,900 (13.7%) $410,558 (23.9%) 0.00 164
    2021-06-01 $280,554 (6.5%) $399,137 (17.6%) 0.00 171
    2021-07-01 $279,900 (8.8%) $395,812 (14.7%) 0.00 209
    2021-08-01 $292,450 (15.8%) $401,311 (14.0%) 0.00 232
    2021-09-01 $299,225 (5.5%) $397,270 (7.9%) 0.00 246
    2021-10-01 $284,950 (5.0%) $406,381 (9.9%) 0.00 252
    2021-11-01 $297,465 (18.4%) $430,035 (22.9%) 0.00 240
    2021-12-01 $281,200 (13.7%) $424,328 (23.8%) 0.00 206
    2022-01-01 $305,000 (23.7%) $440,609 (24.0%) 0.00 175
    2022-02-01 $294,225 (12.3%) $462,015 (21.8%) 0.00 171
    2022-03-01 $309,593 (10.6%) $497,894 (25.3%) 0.00 179
    2022-04-01 $324,900 (17.1%) $496,664 (26.6%) 0.00 209
    2022-05-01 $326,777 (16.8%) $503,058 (22.5%) 0.00 239
    2022-06-01 $335,885 (19.7%) $513,517 (28.7%) 0.00 286
    2022-07-01 $339,900 (21.4%) $521,073 (31.7%) 0.00 296
    2022-08-01 $344,615 (17.8%) $521,114 (29.9%) 0.00 307
    2022-09-01 $330,256 (10.4%) $487,473 (22.7%) 0.00 324
    2022-10-01 $326,995 (14.8%) $483,394 (19.0%) 0.00 339
    2022-11-01 $320,935 (7.9%) $479,242 (11.4%) 0.00 335
    2022-12-01 $328,030 (16.7%) $494,982 (16.7%) 0.00 369
    2023-01-01 $323,790 (6.2%) $467,735 (6.2%) 0.00 329
    2023-02-01 $318,115 (8.1%) $459,235 (-0.6%) 0.00 283
    2023-03-01 $319,450 (3.2%) $483,549 (-2.9%) 0.00 286
    2023-04-01 $322,031 (-0.9%) $518,641 (4.4%) 0.00 286
    2023-05-01 $321,781 (-1.5%) $519,579 (3.3%) 0.00 289
    2023-06-01 $324,939 (-3.3%) $536,017 (4.4%) 0.00 289
    2023-07-01 $299,900 (-11.8%) $518,957 (-0.4%) 0.00 298
    2023-08-01 $299,130 (-13.2%) $506,465 (-2.8%) 0.00 322
    2023-09-01 $299,900 (-9.2%) $535,915 (9.9%) 0.00 344
    2023-10-01 $289,900 (-11.3%) $549,283 (13.6%) 0.00 327
    2023-11-01 $272,425 (-15.1%) $508,429 (6.1%) 0.00 373
    2023-12-01 $274,900 (-16.2%) $524,674 (6.0%) 0.00 352
    2024-01-01 $281,725 (-13.0%) $568,380 (21.5%) 0.00 324
    2024-02-01 $292,000 (-8.2%) $592,869 (29.1%) 0.00 304
    2024-03-01 $306,550 (-4.0%) $625,557 (29.4%) 0.00 311
    Cullman's median listing price for 2024-03-01 was $306,550, a difference of $-12,900 (-4.0%) versus the prior year and $14,550 versus the prior month.

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

    Cullman's average listing price for 2024-03-01 was $625,557, a difference of $142,008 (29.4%) versus the prior year and $32,688 versus the prior month.

    For the 2024-03-01 period, Cullman had 311 MLS listings, a difference of 7 listings (2%) versus the prior month and 25 listings (9%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Cullman (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,972 sqft
    2018-02-01 0 days 1,992 sqft
    2018-03-01 0 days 1,984 sqft
    2018-04-01 0 days 1,997 sqft
    2018-05-01 0 days 2,000 sqft
    2018-06-01 0 days 2,000 sqft
    2018-07-01 0 days 2,022 sqft
    2018-08-01 0 days 2,065 sqft
    2018-09-01 0 days 2,002 sqft
    2018-10-01 0 days 2,000 sqft
    2018-11-01 0 days 2,000 sqft
    2018-12-01 0 days 1,975 sqft
    2019-01-01 0 days 1,947 sqft
    2019-02-01 0 days 1,989 sqft
    2019-03-01 0 days 2,009 sqft
    2019-04-01 0 days 2,023 sqft
    2019-05-01 0 days 2,022 sqft
    2019-06-01 0 days 2,013 sqft
    2019-07-01 0 days 1,965 sqft
    2019-08-01 0 days 1,954 sqft
    2019-09-01 0 days 1,980 sqft
    2019-10-01 0 days 1,997 sqft
    2019-11-01 0 days 2,037 sqft
    2019-12-01 0 days 2,075 sqft
    2020-01-01 0 days 2,020 sqft
    2020-02-01 0 days 2,016 sqft
    2020-03-01 0 days 2,104 sqft
    2020-04-01 0 days 2,136 sqft
    2020-05-01 0 days 2,133 sqft
    2020-06-01 0 days 2,165 sqft
    2020-07-01 0 days 2,192 sqft
    2020-08-01 0 days 2,227 sqft
    2020-09-01 0 days 2,304 sqft
    2020-10-01 0 days 2,282 sqft
    2020-11-01 0 days 2,191 sqft
    2020-12-01 0 days 2,110 sqft
    2021-01-01 0 days 2,112 sqft
    2021-02-01 0 days 1,977 sqft
    2021-03-01 0 days 2,020 sqft
    2021-04-01 0 days 1,930 sqft
    2021-05-01 0 days 2,015 sqft
    2021-06-01 0 days 2,024 sqft
    2021-07-01 0 days 1,956 sqft
    2021-08-01 0 days 2,046 sqft
    2021-09-01 0 days 2,075 sqft
    2021-10-01 0 days 2,008 sqft
    2021-11-01 0 days 2,023 sqft
    2021-12-01 0 days 1,924 sqft
    2022-01-01 0 days 1,949 sqft
    2022-02-01 0 days 1,930 sqft
    2022-03-01 0 days 1,995 sqft
    2022-04-01 0 days 2,058 sqft
    2022-05-01 0 days 1,998 sqft
    2022-06-01 0 days 1,994 sqft
    2022-07-01 0 days 2,022 sqft
    2022-08-01 0 days 2,040 sqft
    2022-09-01 0 days 1,957 sqft
    2022-10-01 0 days 2,016 sqft
    2022-11-01 0 days 1,993 sqft
    2022-12-01 0 days 1,990 sqft
    2023-01-01 0 days 1,947 sqft
    2023-02-01 0 days 1,910 sqft
    2023-03-01 0 days 1,939 sqft
    2023-04-01 0 days 1,960 sqft
    2023-05-01 0 days 1,950 sqft
    2023-06-01 0 days 1,930 sqft
    2023-07-01 0 days 1,851 sqft
    2023-08-01 0 days 1,832 sqft
    2023-09-01 0 days 1,832 sqft
    2023-10-01 0 days 1,804 sqft
    2023-11-01 0 days 1,804 sqft
    2023-12-01 0 days 1,809 sqft
    2024-01-01 0 days 1,846 sqft
    2024-02-01 0 days 1,850 sqft
    2024-03-01 0 days 1,883 sqft
    Cullman's median listing age (time on market) for 2024-03-01 was 0 days.

    Cullman's median square footage for active listings during the 2024-03-01 period was 1,883 sqft. One year prior, the average listing was 1,939 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.