Daphne VA Loan Rates, Closing Costs & Stats

DAPHNE-FAIRHOPE-FOLEY, AL

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 6.32% for the week of 2024-07-05, compared to the national average (all VA variants) of 6.475% for the same period.

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

The average rate for the prior week (2024-06-28) was 6.51% and one month ago for the week of 2024-05-31, the average rate was 6.34%.

The average rate one year ago was 6.39%.

For refis of the same type during the week of 2024-07-05, the average rate was 6.77%.

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
2024-04-01 $501,885 (0.4%) $698,349 (-1.8%) 1.17 2,576
2024-05-01 $524,900 (0.0%) $712,505 (-3.3%) 1.19 2,594
2024-06-01 $526,000 (-0.3%) $723,435 (-1.8%) 1.18 2,587
Daphne's median listing price for 2024-06-01 was $526,000, a difference of $-1,359 (-0.3%) versus the prior year and $1,100 versus the prior month.

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

Daphne's average listing price for 2024-06-01 was $723,435, a difference of $-13,128 (-1.8%) versus the prior year and $10,930 versus the prior month.

For the 2024-06-01 period, Daphne had 2,587 MLS listings, a difference of -7 listings (0%) versus the prior month and 872 listings (51%) 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
2024-04-01 60 days 1,787 sqft
2024-05-01 66 days 1,778 sqft
2024-06-01 71 days 1,753 sqft
Daphne's median listing age (time on market) for 2024-06-01 was 71 days. This is 37% longer than the same period one year ago.

Daphne's median square footage for active listings during the 2024-06-01 period was 1,753 sqft. One year prior, the average listing was 1,854 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.