Daphne VA Loan Rates, Closing Costs & Stats

DAPHNE-FAIRHOPE-FOLEY, AL

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Daphne's 101 lenders originated 716 VA loans during 2023. The total origination value was $246,810,000, with an average VA loan value of $344,707.

    Daphne VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Daphne averaged 6.9% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Daphne's average VA mortgage closing costs are $5,846.

    The average rate for the prior week (2024-04-12) was 6.63% and one month ago for the week of 2024-03-15, the average rate was 6.29%.

    The average rate one year ago was 6.18%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.75%.

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

    Daphne 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 Daphne level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 149 5.12% $5,127
    Mortgage Research Center, LLC 76 6.61% $6,214
    UNITED WHOLESALE MORTGAGE, LLC 38 6.29% $7,373
    NAVY FEDERAL CREDIT UNION 34 5.81% $5,782
    EAGLE HOME MORTGAGE, LLC 32 5.14% $3,658
    QUICKEN LOANS, LLC 24 6.15% $12,929
    PENNYMAC LOAN SERVICES, LLC 19 5.37% $8,512
    USAA Federal Savings Bank 19 6.05% $6,677
    Plains Commerce Bank 14 6.08% $8,854
    Trustmark National Bank 12 6.31% $7,527
    FREEDOM MORTGAGE CORPORATION 12 6.31% $13,968
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 6.18% $8,189
    FirstBank 11 6.19% $8,143
    NEW DAY FINANCIAL, LLC 11 7.01% $11,568
    SWBC MORTGAGE CORPORATION 9 6.51% $11,672
    Prosperity Home Mortgage, LLC 9 6.00% $7,999
    GMFS LLC 9 6.07% $7,038
    DSLD MORTGAGE, LLC 8 6.11% $5,606
    The Federal Savings Bank 8 6.28% $16,518
    Regions Bank 7 6.21% $6,565
    HOMETRUST MORTGAGE COMPANY 6 6.02% $4,290
    Magnolia Bank 6 6.45% $11,578
    MOVEMENT MORTGAGE, LLC 6 6.46% $7,493
    LOANDEPOT.COM, LLC 5 5.97% $8,993
    CROSSCOUNTRY MORTGAGE, LLC 5 6.56% $8,418
    VILLAGE CAPITAL MORTGAGE 5 6.05% $14,965
    Renasant Bank 4 6.06% $4,751
    EMBRACE HOME LOANS, INC. 4 6.34% $10,484
    Flagstar Bank, FSB 4 6.63% $46,433
    MUTUAL OF OMAHA MORTGAGE, INC. 4 6.88% $8,467
    Barrington Bank & Trust Company, N.A. 4 6.00% $4,051
    AMERISAVE MORTGAGE CORPORATION 3 5.67% $15,878
    COMMUNITY MORTGAGE, LLC 3 6.67% $2,612
    Princeton Mortgage Corporation 3 6.88% $5,318
    CARDINAL FINANCIAL 3 6.54% $9,008
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.58% $11,651
    Equity Prime Mortgage LLC 3 7.17% $11,298
    PENTAGON FEDERAL CREDIT UNION 3 5.50% $10,812
    Nations Lending Corporation 3 6.58% $4,903
    First Federal Bank, A FSB 3 5.50% $10,182
    NEWREZ LLC 3 7.16% $11,759
    NBKC BANK 3 6.38% $3,610
    GUARANTEED RATE, INC. 3 6.67% $4,813
    Wells Fargo Bank 2 6.31% $6,713
    AMERICAN FINANCIAL NETWORK, INC. 2 6.69% $3,598
    BankPlus 2 6.00% $6,930
    BROKER SOLUTIONS, INC. 2 6.81% $11,481
    Centennial Bank 2 6.44% $12,337
    DRAPER AND KRAMER MORTGAGE CORP. 2 6.25% $8,204
    FBC MORTGAGE, LLC 2 4.75% $1,755
    First Horizon Bank 2 5.88% $5,479
    FirstTrust Home Loans, Inc. 2 7.13% $6,569
    GUARANTEED RATE AFFINITY, LLC 2 6.75% $5,231
    GUILD MORTGAGE COMPANY 2 6.13% $7,839
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 7.06% $7,782
    Mr. Cooper ( Nationstar Mortgage ) 2 5.75% $13,881
    NFM, INC. 2 7.06% $11,721
    PACIFIC RESIDENTIAL MORTGAGE, LLC 2 6.38% $11,459
    Paramount Residential Mortgage Group, Inc. 2 6.62% $11,693
    STOCKTON MORTGAGE CORPORATION 2 0.00% $13,066
    LEADERONE FINANCIAL CORPORATION 1 7.13% $14,938
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $15,758
    JPMorgan Chase Bank 1 5.00% $10,802
    Ixonia Bank 1 6.63% $7,169
    INSPIRE HOME LOANS INC. 1 4.88% $8,338
    First Savings Bank 1 7.25% $8,931
    Assurance Financial Group, L.L.C. 1 7.75% $3,080
    Northpointe Bank 1 7.13% $6,876
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.25% $640
    American Mortgage & Equity Consultants, Inc. 1 7.00% $6,981
    First Federal Bank 1 5.75% $9,878
    FIDELITY BANK 1 5.75% $9,165
    DAS Acquisition Company, LLC 1 5.75% $15,169
    PLANET HOME LENDING, LLC 1 6.38% $5,705
    PLAZA HOME MORTGAGE, INC. 1 6.50% $6,836
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.75% $7,417
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $19,670
    CORNERSTONE HOME LENDING, INC. 1 6.25% $2,170
    Community Bank of Mississippi 1 5.63% $10,665
    Citizens Bank 1 5.75% $3,630
    RAPID MORTGAGE COMPANY 1 6.63% $10,345
    Century Mortgage Company DBA Century Lending Company 1 4.75% $12,547
    CANOPY MORTGAGE, LLC 1 6.99% $11,180
    S1L, Inc. 1 5.75% $4,102
    ServisFirst Bank 1 6.25% $3,400
    SIRVA MORTGAGE, INC. 1 7.13% $1,225
    SOUTHWEST STAGE FUNDING, LLC 1 7.38% $9,684
    ACADEMY MORTGAGE CORPORATION 1 7.75% $8,774
    BECKAM FUNDING CORP. 1 6.75% $24,347
    Texana Bank 1 6.13% $13,267
    Bank of England 1 6.75% $5,659
    The Loan Store, Inc. 1 6.75% $4,233
    THE MORTGAGE FIRM, INC. 1 5.63% $9,993
    Truist 1 6.75% $3,652
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 7.75% $18,191
    Tyndall Federal Credit Union 1 6.50% $5,556
    MORIA DEVELOPMENT, INC. 1 6.75% $9,589
    MILEND, INC. 1 6.75% $15,157
    Mid-Continent Funding, Inc. 1 6.75% $13,063
    Merchants & Marine Bank 1 6.13% $1,865
    UNION HOME MORTGAGE CORP. 1 6.13% $13,250

    The top Daphne VA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 149 VA loans originated. Their average total fees are $5,127, which is $1,087 lower than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Daphne VA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC ($3,658), DHI MORTGAGE COMPANY, LTD. ($5,127), NAVY FEDERAL CREDIT UNION ($5,782), Mortgage Research Center, LLC ($6,214) and USAA Federal Savings Bank ($6,677).

    The lowest rate Daphne VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.12%), EAGLE HOME MORTGAGE, LLC (5.14%), PENNYMAC LOAN SERVICES, LLC (5.37%), NAVY FEDERAL CREDIT UNION (5.81%) and USAA Federal Savings Bank (6.05%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Daphne (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 $315,000 (5.1%) $421,172 (1.2%) 1.17 2,579
    2018-02-01 $314,950 (3.5%) $420,522 (-0.1%) 1.14 2,650
    2018-03-01 $311,688 (3.1%) $421,472 (-0.8%) 1.09 2,703
    2018-04-01 $329,900 (3.3%) $438,191 (0.4%) 1.12 2,756
    2018-05-01 $336,250 (4.8%) $442,439 (1.6%) 1.12 2,749
    2018-06-01 $339,000 (5.6%) $449,255 (3.9%) 1.13 2,737
    2018-07-01 $337,225 (6.1%) $445,758 (3.1%) 1.13 2,744
    2018-08-01 $330,851 (5.9%) $438,622 (2.5%) 1.11 2,756
    2018-09-01 $330,623 (3.3%) $439,184 (0.5%) 1.11 2,743
    2018-10-01 $330,950 (2.8%) $441,316 (1.2%) 1.12 2,708
    2018-11-01 $329,700 (3.9%) $436,532 (-5.4%) 1.12 2,736
    2018-12-01 $329,000 (4.2%) $435,147 (3.3%) 1.13 2,648
    2019-01-01 $325,253 (3.3%) $431,928 (2.6%) 1.12 2,594
    2019-02-01 $327,000 (3.8%) $426,756 (1.5%) 1.10 2,671
    2019-03-01 $331,443 (6.3%) $438,171 (4.0%) 1.08 2,745
    2019-04-01 $334,850 (1.5%) $450,808 (2.9%) 1.06 2,813
    2019-05-01 $339,900 (1.1%) $456,160 (3.1%) 1.06 2,773
    2019-06-01 $344,000 (1.5%) $456,710 (1.7%) 1.08 2,743
    2019-07-01 $339,925 (0.8%) $446,785 (0.2%) 1.06 2,747
    2019-08-01 $336,955 (1.8%) $441,471 (0.7%) 1.07 2,764
    2019-09-01 $342,886 (3.7%) $446,706 (1.7%) 1.10 2,700
    2019-10-01 $343,091 (3.7%) $448,935 (1.7%) 1.11 2,646
    2019-11-01 $349,900 (6.1%) $460,388 (5.5%) 1.15 2,578
    2019-12-01 $349,250 (6.2%) $464,068 (6.7%) 1.16 2,506
    2020-01-01 $340,070 (4.6%) $458,788 (6.2%) 1.14 2,394
    2020-02-01 $344,900 (5.5%) $459,169 (7.6%) 1.13 2,383
    2020-03-01 $355,958 (7.4%) $474,834 (8.4%) 1.12 2,453
    2020-04-01 $354,900 (6.0%) $469,542 (4.2%) 1.11 2,526
    2020-05-01 $359,900 (5.9%) $482,821 (5.8%) 1.09 2,475
    2020-06-01 $362,450 (5.4%) $491,413 (7.6%) 1.07 2,291
    2020-07-01 $360,586 (6.1%) $504,567 (12.9%) 1.05 2,084
    2020-08-01 $360,000 (6.8%) $513,765 (16.4%) 1.03 1,930
    2020-09-01 $370,500 (8.1%) $522,621 (17.0%) 1.06 1,744
    2020-10-01 $365,000 (6.4%) $528,359 (17.7%) 1.05 1,552
    2020-11-01 $359,950 (2.9%) $540,660 (17.4%) 1.05 1,544
    2020-12-01 $362,176 (3.7%) $535,364 (15.4%) 1.08 1,496
    2021-01-01 $379,145 (11.5%) $557,046 (21.4%) 1.13 1,253
    2021-02-01 $385,634 (11.8%) $561,110 (22.2%) 1.12 1,036
    2021-03-01 $400,729 (12.6%) $603,194 (27.0%) 1.14 819
    2021-04-01 $418,750 (18.0%) $603,653 (28.6%) 1.13 852
    2021-05-01 $449,550 (24.9%) $637,736 (32.1%) 1.19 831
    2021-06-01 $454,795 (25.5%) $651,878 (32.7%) 1.20 887
    2021-07-01 $445,000 (23.4%) $630,245 (24.9%) 1.17 1,078
    2021-08-01 $442,500 (22.9%) $613,050 (19.3%) 1.18 1,197
    2021-09-01 $442,500 (19.4%) $601,393 (15.1%) 1.18 1,279
    2021-10-01 $435,900 (19.4%) $603,498 (14.2%) 1.16 1,293
    2021-11-01 $425,723 (18.3%) $613,865 (13.5%) 1.14 1,222
    2021-12-01 $423,358 (16.9%) $617,499 (15.3%) 1.15 1,105
    2022-01-01 $425,000 (12.1%) $644,508 (15.7%) 1.15 938
    2022-02-01 $450,692 (16.9%) $717,460 (27.9%) 1.17 746
    2022-03-01 $482,127 (20.3%) $775,213 (28.5%) 1.21 705
    2022-04-01 $554,000 (32.3%) $824,138 (36.5%) 1.32 746
    2022-05-01 $549,900 (22.3%) $784,780 (23.1%) 1.26 1,028
    2022-06-01 $549,425 (20.8%) $769,593 (18.1%) 1.22 1,292
    2022-07-01 $539,900 (21.3%) $751,743 (19.3%) 1.22 1,518
    2022-08-01 $534,527 (20.8%) $747,056 (21.9%) 1.24 1,596
    2022-09-01 $527,291 (19.2%) $726,903 (20.9%) 1.23 1,610
    2022-10-01 $499,000 (14.5%) $705,257 (16.9%) 1.17 1,631
    2022-11-01 $495,625 (16.4%) $685,965 (11.8%) 1.19 1,648
    2022-12-01 $489,900 (15.7%) $680,670 (10.2%) 1.21 1,625
    2023-01-01 $483,784 (13.8%) $680,104 (5.5%) 1.20 1,530
    2023-02-01 $496,475 (10.2%) $688,946 (-4.0%) 1.20 1,517
    2023-03-01 $499,450 (3.6%) $702,607 (-9.4%) 1.18 1,499
    2023-04-01 $500,000 (-9.8%) $711,310 (-13.7%) 1.16 1,603
    2023-05-01 $524,975 (-4.5%) $736,959 (-6.1%) 1.19 1,703
    2023-06-01 $527,359 (-4.0%) $736,563 (-4.3%) 1.19 1,715
    2023-07-01 $525,000 (-2.8%) $734,618 (-2.3%) 1.19 1,764
    2023-08-01 $527,000 (-1.4%) $732,057 (-2.0%) 1.21 1,841
    2023-09-01 $543,900 (3.2%) $740,286 (1.8%) 1.27 2,003
    2023-10-01 $547,000 (9.6%) $749,376 (6.3%) 1.29 2,171
    2023-11-01 $530,750 (7.1%) $728,553 (6.2%) 1.26 2,255
    2023-12-01 $529,900 (8.2%) $720,854 (5.9%) 1.29 2,166
    2024-01-01 $529,950 (9.5%) $719,577 (5.8%) 1.29 2,117
    2024-02-01 $525,000 (5.8%) $713,313 (3.5%) 1.26 2,237
    2024-03-01 $499,900 (0.1%) $708,027 (0.8%) 1.18 2,532
    Daphne's median listing price for 2024-03-01 was $499,900, a difference of $450 (0.1%) versus the prior year and $-25,100 versus the prior month.

    Daphne's median listing price comes in at 118% of the national average.

    Daphne's average listing price for 2024-03-01 was $708,027, a difference of $5,420 (0.8%) versus the prior year and $-5,286 versus the prior month.

    For the 2024-03-01 period, Daphne had 2,532 MLS listings, a difference of 295 listings (13%) versus the prior month and 1,033 listings (69%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Daphne (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 99 days 2,024 sqft
    2018-02-01 96 days 2,000 sqft
    2018-03-01 74 days 2,010 sqft
    2018-04-01 68 days 2,017 sqft
    2018-05-01 67 days 2,010 sqft
    2018-06-01 70 days 2,009 sqft
    2018-07-01 73 days 1,971 sqft
    2018-08-01 75 days 1,961 sqft
    2018-09-01 82 days 1,958 sqft
    2018-10-01 87 days 1,950 sqft
    2018-11-01 88 days 1,940 sqft
    2018-12-01 93 days 1,933 sqft
    2019-01-01 96 days 1,931 sqft
    2019-02-01 91 days 1,922 sqft
    2019-03-01 79 days 1,942 sqft
    2019-04-01 68 days 1,955 sqft
    2019-05-01 68 days 1,957 sqft
    2019-06-01 74 days 1,954 sqft
    2019-07-01 76 days 1,950 sqft
    2019-08-01 76 days 1,945 sqft
    2019-09-01 78 days 1,952 sqft
    2019-10-01 80 days 1,957 sqft
    2019-11-01 82 days 1,958 sqft
    2019-12-01 87 days 1,944 sqft
    2020-01-01 88 days 1,939 sqft
    2020-02-01 82 days 1,936 sqft
    2020-03-01 67 days 1,930 sqft
    2020-04-01 69 days 1,903 sqft
    2020-05-01 74 days 1,930 sqft
    2020-06-01 78 days 1,972 sqft
    2020-07-01 70 days 1,980 sqft
    2020-08-01 65 days 1,960 sqft
    2020-09-01 64 days 1,959 sqft
    2020-10-01 66 days 1,958 sqft
    2020-11-01 69 days 1,958 sqft
    2020-12-01 64 days 1,950 sqft
    2021-01-01 71 days 1,963 sqft
    2021-02-01 56 days 1,958 sqft
    2021-03-01 42 days 1,989 sqft
    2021-04-01 34 days 1,949 sqft
    2021-05-01 35 days 1,948 sqft
    2021-06-01 33 days 1,927 sqft
    2021-07-01 30 days 1,891 sqft
    2021-08-01 34 days 1,890 sqft
    2021-09-01 44 days 1,849 sqft
    2021-10-01 52 days 1,833 sqft
    2021-11-01 53 days 1,832 sqft
    2021-12-01 58 days 1,869 sqft
    2022-01-01 58 days 1,915 sqft
    2022-02-01 43 days 2,012 sqft
    2022-03-01 33 days 2,005 sqft
    2022-04-01 26 days 1,980 sqft
    2022-05-01 26 days 1,954 sqft
    2022-06-01 31 days 1,916 sqft
    2022-07-01 44 days 1,878 sqft
    2022-08-01 54 days 1,873 sqft
    2022-09-01 62 days 1,888 sqft
    2022-10-01 68 days 1,884 sqft
    2022-11-01 69 days 1,882 sqft
    2022-12-01 73 days 1,866 sqft
    2023-01-01 81 days 1,878 sqft
    2023-02-01 67 days 1,867 sqft
    2023-03-01 57 days 1,879 sqft
    2023-04-01 51 days 1,873 sqft
    2023-05-01 50 days 1,863 sqft
    2023-06-01 52 days 1,854 sqft
    2023-07-01 56 days 1,839 sqft
    2023-08-01 57 days 1,814 sqft
    2023-09-01 58 days 1,800 sqft
    2023-10-01 62 days 1,822 sqft
    2023-11-01 68 days 1,798 sqft
    2023-12-01 79 days 1,787 sqft
    2024-01-01 87 days 1,787 sqft
    2024-02-01 82 days 1,787 sqft
    2024-03-01 60 days 1,787 sqft
    Daphne's median listing age (time on market) for 2024-03-01 was 60 days. This is 6% longer than the same period one year ago.

    Daphne's median square footage for active listings during the 2024-03-01 period was 1,787 sqft. One year prior, the average listing was 1,879 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.