Daphne VA Loan Rates, Closing Costs & Stats

DAPHNE-FAIRHOPE-FOLEY, 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.

    Daphne's 125 lenders originated 1,005 VA loans during 2022. The total origination value was $332,605,000, with an average VA loan value of $330,950.

    Daphne VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Daphne averaged 5.93% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Daphne's average VA mortgage closing costs are $5,647.

    The average rate for the prior week (2023-05-19) was 5.76% and one month ago for the week of 2023-04-21, the average rate was 5.78%.

    The average rate one year ago was 4.85%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.33%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 130 4.07% $7,012
    Mortgage Research Center, LLC 111 4.76% $6,836
    QUICKEN LOANS, LLC 70 4.13% $11,713
    UNITED WHOLESALE MORTGAGE, LLC 62 4.49% $9,953
    NAVY FEDERAL CREDIT UNION 61 3.98% $7,960
    HOME POINT FINANCIAL CORPORATION 53 3.98% $9,133
    FREEDOM MORTGAGE CORPORATION 37 4.06% $10,184
    USAA Federal Savings Bank 26 4.51% $5,384
    NEW DAY FINANCIAL, LLC 24 4.70% $10,714
    LOANDEPOT.COM, LLC 21 4.02% $12,976
    PENNYMAC LOAN SERVICES, LLC 20 3.72% $10,286
    GMFS LLC 19 4.52% $8,387
    FirstBank 19 4.36% $4,994
    Trustmark National Bank 17 4.28% $7,356
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 4.08% $10,667
    MOVEMENT MORTGAGE, LLC 13 4.27% $5,522
    DSLD MORTGAGE, LLC 12 3.91% $6,090
    AMERISAVE MORTGAGE CORPORATION 10 4.44% $15,011
    The Home Loan Expert LLC 10 5.15% $13,293
    BancorpSouth Bank 8 4.69% $8,335
    Mr. Cooper ( Nationstar Mortgage ) 8 4.63% $8,678
    Barrington Bank & Trust Company, N.A. 7 4.72% $10,527
    First Federal Bank, A FSB 7 4.21% $7,563
    Nations Lending Corporation 7 5.48% $6,332
    CARDINAL FINANCIAL 7 5.57% $10,397
    Bank of England 6 4.67% $9,411
    CALIBER HOME LOANS, INC. 5 5.27% $13,101
    LAKEVIEW LOAN SERVICING, LLC 5 3.40% $10,448
    PENTAGON FEDERAL CREDIT UNION 5 3.88% $9,625
    EVERETT FINANCIAL, INC. 5 4.33% $4,393
    Wells Fargo Bank 4 4.16% $5,343
    North American Savings Bank, F.S.B. 4 3.88% $4,540
    SouthPoint Bank 4 4.69% $9,958
    Citizens Bank 4 4.09% $3,750
    NEWREZ LLC 4 4.19% $8,530
    The Federal Savings Bank 4 6.06% $12,456
    CLEARPATH LENDING 4 3.18% $14,914
    Truist 4 4.82% $8,904
    Tyndall Federal Credit Union 4 4.81% $7,382
    CMG MORTGAGE, INC. 4 4.12% $6,184
    CROSSCOUNTRY MORTGAGE, LLC 4 4.70% $12,085
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 5.88% $10,146
    Mid-Continent Funding, Inc. 4 5.13% $4,829
    VILLAGE CAPITAL MORTGAGE 3 3.75% $7,303
    Princeton Mortgage Corporation 3 6.08% $18,059
    BROKER SOLUTIONS, INC. 3 4.36% $12,982
    NFM, INC. 3 5.42% $8,494
    GUARANTEED RATE, INC. 3 3.81% $8,179
    CITY FIRST MORTGAGE SERVICES, L.L.C. 3 4.04% $13,961
    Equity Prime Mortgage LLC 3 4.42% $7,991
    MUTUAL OF OMAHA MORTGAGE, INC. 3 4.92% $15,720
    EMBRACE HOME LOANS, INC. 3 5.83% $7,902
    Regions Bank 3 4.96% $5,731
    Carrington Mortgage Services, LLC 3 5.21% $14,587
    GUARANTEED RATE AFFINITY, LLC 3 5.33% $6,924
    DRAPER AND KRAMER MORTGAGE CORP. 3 4.67% $5,259
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 5.56% $3,860
    THE MORTGAGE FIRM, INC. 2 5.37% $6,306
    HOMESTAR FINANCIAL CORPORATION 2 4.50% $450
    PLANET HOME LENDING, LLC 2 4.38% $7,566
    Flagstar Bank, FSB 2 3.50% $16,806
    GUARANTY HOME MORTGAGE CORPORATION 2 4.63% $3,916
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 3.56% $3,588
    PACIFIC RESIDENTIAL MORTGAGE, LLC 2 4.50% $13,020
    Magnolia Bank 2 2.75% $8,249
    Prosperity Home Mortgage, LLC 2 4.44% $12,188
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.50% $12,336
    South State Bank 2 5.25% $4,671
    AMERICAN FINANCING CORPORATION 2 4.31% $8,431
    HOMETRUST MORTGAGE COMPANY 2 5.25% $5,286
    EAGLE HOME MORTGAGE, LLC 2 5.31% $2,187
    Wyndham Capital Mortgage, Inc. 1 4.25% $4,532
    Ameris Bank 1 4.63% $10,639
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.63% $22,511
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.63% $10,325
    BNC National Bank 1 3.25% $1,923
    Centennial Bank 1 4.88% $5,440
    CERTAINTY HOME LOANS, LLC 1 4.25% $26,059
    CIS Financial Services, Inc. 1 3.88% $10,161
    Community Bank of Mississippi 1 2.75% $13,364
    COMMUNITY MORTGAGE CORPORATION 1 4.38% $15,976
    Consumer First Mortgage, Inc. 1 3.88% $11,687
    CONTOUR MORTGAGE CORPORATION 1 3.63% $8,979
    FBC MORTGAGE, LLC 1 3.75% $7,729
    FIDELITY BANK 1 5.63% $4,739
    FIRST COLONY MORTGAGE CORPORATION 1 5.63% $9,567
    FIRST COMMUNITY MORTGAGE, INC. 1 3.50% $10,849
    First Guaranty Mortgage Corporation 1 4.75% $7,726
    First Option Mortgage, LLC 1 5.50% $13,794
    Gateway First Bank 1 5.25% $6,586
    GERSHMAN INVESTMENT CORP. 1 6.88% $8,956
    Goldwater Bank, N.A. 1 5.99% $11,528
    GUILD MORTGAGE COMPANY 1 4.25% $10,209
    Gulf Coast Bank and Trust Company 1 5.13% $4,147
    Hamilton Mortgage Corporation 1 4.50% $15,709
    HOMESTEAD FUNDING CORP. 1 4.75% $6,523
    Ixonia Bank 1 5.75% $26,510
    KEESLER 1 3.88% $10,422
    KELLER MORTGAGE, LLC 1 3.75% $19,561
    LOANPAL, LLC 1 2.88% $7,027
    Low VA Rates, LLC 1 4.75% $25,083
    MAX Credit Union 1 2.50% $10,288
    MORTGAGE INVESTORS GROUP, INC. 1 3.25% $22,126
    M&T Bank 1 2.75% $16,095
    NATIONS DIRECT MORTGAGE, LLC 1 4.75% $6,617
    NBKC BANK 1 3.25% $3,351
    NETWORK CAPITAL FUNDING CORPORATION 1 5.13% $9,277
    Northpointe Bank 1 5.25% $2,504
    Pinnacle Bank 1 6.25% $3,228
    PNC Bank 1 4.50% $7,103
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.75% $18,830
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.75% $20,300
    REDSTONE Federal Credit Union 1 5.00% $1,890
    RELIANCE FIRST CAPITAL, LLC 1 5.88% $4,405
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 3.63% $3,193
    SUCCESS MORTGAGE PARTNERS, INC. 1 4.25% $11,340
    SWBC MORTGAGE CORPORATION 1 5.13% $6,874
    Texana Bank 1 4.38% $18,154
    The Central Trust Bank 1 2.75% $5,873
    TJC Mortgage, Inc. 1 4.50% $13,470
    TOWNE MORTGAGE COMPANY 1 2.75% $2,024
    UNIVERSITY LENDING GROUP, LLC 1 4.50% $18,162
    U.S. Bank 1 5.25% $11,781
    West Town Bank & Trust 1 4.38% $8,657
    AMERICAN FINANCIAL RESOURCES, INC. 1 4.00% $2,435

    The top Daphne VA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 130 VA loans originated. Their average total fees are $7,012, which is $176 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Daphne VA lenders (with over 10 loans originated) are FirstBank ($4,994), USAA Federal Savings Bank ($5,384), MOVEMENT MORTGAGE, LLC ($5,522), DSLD MORTGAGE, LLC ($6,090) and Mortgage Research Center, LLC ($6,836).

    The lowest rate Daphne VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.72%), DSLD MORTGAGE, LLC (3.91%), HOME POINT FINANCIAL CORPORATION (3.98%), NAVY FEDERAL CREDIT UNION (3.98%) and LOANDEPOT.COM, LLC (4.02%).

    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%) $421,247 (1.3%) 1.17 2,578
    2018-02-01 $314,950 (3.5%) $420,596 (-0.1%) 1.15 2,649
    2018-03-01 $311,725 (3.1%) $421,543 (-0.8%) 1.09 2,702
    2018-04-01 $329,900 (3.3%) $438,191 (0.4%) 1.12 2,756
    2018-05-01 $336,250 (4.6%) $442,439 (1.6%) 1.12 2,749
    2018-06-01 $339,000 (5.2%) $449,255 (3.8%) 1.13 2,737
    2018-07-01 $337,225 (6.1%) $445,758 (3.1%) 1.13 2,744
    2018-08-01 $330,851 (5.7%) $438,622 (2.4%) 1.11 2,756
    2018-09-01 $330,623 (3.3%) $439,184 (0.5%) 1.11 2,743
    2018-10-01 $330,950 (2.5%) $441,316 (1.2%) 1.12 2,708
    2018-11-01 $329,700 (4.0%) $436,532 (-5.4%) 1.12 2,736
    2018-12-01 $329,000 (4.2%) $435,147 (3.2%) 1.13 2,648
    2019-01-01 $325,253 (3.3%) $431,928 (2.5%) 1.12 2,594
    2019-02-01 $327,000 (3.8%) $426,679 (1.5%) 1.10 2,672
    2019-03-01 $329,900 (5.8%) $437,205 (3.7%) 1.10 2,755
    2019-04-01 $334,950 (1.5%) $449,528 (2.6%) 1.06 2,814
    2019-05-01 $339,900 (1.1%) $456,077 (3.1%) 1.06 2,774
    2019-06-01 $343,725 (1.4%) $456,627 (1.6%) 1.07 2,744
    2019-07-01 $339,863 (0.8%) $446,705 (0.2%) 1.06 2,748
    2019-08-01 $349,000 (5.5%) $460,238 (4.9%) 1.09 2,708
    2019-09-01 $352,484 (6.6%) $459,409 (4.6%) 1.11 2,593
    2019-10-01 $342,549 (3.5%) $449,544 (1.9%) 1.11 2,650
    2019-11-01 $349,900 (6.1%) $460,220 (5.4%) 1.15 2,580
    2019-12-01 $349,000 (6.1%) $463,891 (6.6%) 1.16 2,508
    2020-01-01 $339,975 (4.5%) $458,578 (6.2%) 1.14 2,396
    2020-02-01 $344,546 (5.4%) $458,989 (7.6%) 1.13 2,383
    2020-03-01 $355,958 (7.9%) $474,834 (8.6%) 1.12 2,453
    2020-04-01 $354,900 (6.0%) $469,542 (4.5%) 1.11 2,526
    2020-05-01 $359,900 (5.9%) $482,821 (5.9%) 1.09 2,475
    2020-06-01 $362,450 (5.5%) $491,308 (7.6%) 1.07 2,292
    2020-07-01 $360,063 (5.9%) $504,322 (12.9%) 1.04 2,086
    2020-08-01 $360,000 (3.2%) $513,765 (11.6%) 1.03 1,931
    2020-09-01 $370,500 (5.1%) $522,621 (13.8%) 1.06 1,744
    2020-10-01 $365,000 (6.6%) $528,359 (17.5%) 1.05 1,553
    2020-11-01 $359,975 (2.9%) $541,050 (17.6%) 1.05 1,545
    2020-12-01 $362,366 (3.8%) $535,772 (15.5%) 1.08 1,497
    2021-01-01 $379,395 (11.6%) $560,978 (22.3%) 1.13 1,254
    2021-02-01 $387,265 (12.4%) $562,217 (22.5%) 1.13 1,037
    2021-03-01 $400,729 (12.6%) $604,037 (27.2%) 1.14 820
    2021-04-01 $419,375 (18.2%) $604,246 (28.7%) 1.14 852
    2021-05-01 $450,000 (25.0%) $639,334 (32.4%) 1.19 831
    2021-06-01 $454,872 (25.5%) $652,325 (32.8%) 1.20 887
    2021-07-01 $445,000 (23.6%) $630,022 (24.9%) 1.17 1,078
    2021-08-01 $445,852 (23.9%) $613,414 (19.4%) 1.19 1,198
    2021-09-01 $443,400 (19.7%) $601,793 (15.2%) 1.18 1,280
    2021-10-01 $435,450 (19.3%) $603,552 (14.2%) 1.16 1,294
    2021-11-01 $426,219 (18.4%) $613,920 (13.5%) 1.14 1,223
    2021-12-01 $423,358 (16.8%) $617,614 (15.3%) 1.15 1,105
    2022-01-01 $425,000 (12.0%) $645,180 (15.0%) 1.15 938
    2022-02-01 $451,246 (16.5%) $719,077 (27.9%) 1.17 746
    2022-03-01 $482,127 (20.3%) $775,213 (28.3%) 1.21 705
    2022-04-01 $560,000 (33.5%) $825,181 (36.6%) 1.33 746
    2022-05-01 $549,925 (22.2%) $787,501 (23.2%) 1.26 1,028
    2022-06-01 $549,850 (20.9%) $769,728 (18.0%) 1.22 1,293
    2022-07-01 $543,486 (22.1%) $751,464 (19.3%) 1.23 1,519
    2022-08-01 $534,975 (20.0%) $748,140 (22.0%) 1.24 1,599
    2022-09-01 $527,400 (18.9%) $726,921 (20.8%) 1.23 1,613
    2022-10-01 $499,900 (14.8%) $707,297 (17.2%) 1.18 1,634
    2022-11-01 $499,000 (17.1%) $688,083 (12.1%) 1.20 1,651
    2022-12-01 $489,900 (15.7%) $681,889 (10.4%) 1.21 1,629
    2023-01-01 $485,000 (14.1%) $680,683 (5.5%) 1.20 1,534
    2023-02-01 $496,500 (10.0%) $691,470 (-3.8%) 1.20 1,517
    2023-03-01 $499,900 (3.7%) $703,767 (-9.2%) 1.18 1,499
    2023-04-01 $512,900 (-8.4%) $713,851 (-13.5%) 1.19 1,602
    Daphne's median listing price for 2023-04-01 was $512,900, a difference of $-47,100 (-8.4%) versus the prior year and $13,000 versus the prior month.

    Daphne's median listing price comes in at 119% of the national average.

    Daphne's average listing price for 2023-04-01 was $713,851, a difference of $-111,330 (-13.5%) versus the prior year and $10,084 versus the prior month.

    For the 2023-04-01 period, Daphne had 1,602 MLS listings, a difference of 103 listings (7%) versus the prior month and 856 listings (115%) 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
    2018-01-01 106 days 2,025 sqft
    2018-02-01 106 days 2,000 sqft
    2018-03-01 99 days 2,010 sqft
    2018-04-01 80 days 2,018 sqft
    2018-05-01 79 days 2,011 sqft
    2018-06-01 81 days 2,010 sqft
    2018-07-01 80 days 1,973 sqft
    2018-08-01 84 days 1,961 sqft
    2018-09-01 91 days 1,958 sqft
    2018-10-01 95 days 1,950 sqft
    2018-11-01 98 days 1,942 sqft
    2018-12-01 101 days 1,936 sqft
    2019-01-01 105 days 1,931 sqft
    2019-02-01 99 days 1,923 sqft
    2019-03-01 84 days 1,948 sqft
    2019-04-01 74 days 1,956 sqft
    2019-05-01 75 days 1,956 sqft
    2019-06-01 79 days 1,954 sqft
    2019-07-01 84 days 1,950 sqft
    2019-08-01 95 days 1,958 sqft
    2019-09-01 96 days 1,972 sqft
    2019-10-01 87 days 1,958 sqft
    2019-11-01 89 days 1,958 sqft
    2019-12-01 93 days 1,945 sqft
    2020-01-01 95 days 1,940 sqft
    2020-02-01 91 days 1,936 sqft
    2020-03-01 73 days 1,930 sqft
    2020-04-01 74 days 1,903 sqft
    2020-05-01 79 days 1,930 sqft
    2020-06-01 85 days 1,972 sqft
    2020-07-01 76 days 1,980 sqft
    2020-08-01 71 days 1,960 sqft
    2020-09-01 69 days 1,958 sqft
    2020-10-01 72 days 1,958 sqft
    2020-11-01 74 days 1,957 sqft
    2020-12-01 69 days 1,950 sqft
    2021-01-01 75 days 1,963 sqft
    2021-02-01 66 days 1,959 sqft
    2021-03-01 49 days 1,989 sqft
    2021-04-01 38 days 1,949 sqft
    2021-05-01 38 days 1,948 sqft
    2021-06-01 37 days 1,928 sqft
    2021-07-01 32 days 1,892 sqft
    2021-08-01 35 days 1,889 sqft
    2021-09-01 45 days 1,845 sqft
    2021-10-01 53 days 1,833 sqft
    2021-11-01 55 days 1,832 sqft
    2021-12-01 59 days 1,867 sqft
    2022-01-01 59 days 1,915 sqft
    2022-02-01 44 days 2,017 sqft
    2022-03-01 34 days 2,006 sqft
    2022-04-01 28 days 1,980 sqft
    2022-05-01 28 days 1,958 sqft
    2022-06-01 32 days 1,911 sqft
    2022-07-01 44 days 1,878 sqft
    2022-08-01 55 days 1,874 sqft
    2022-09-01 64 days 1,888 sqft
    2022-10-01 68 days 1,879 sqft
    2022-11-01 71 days 1,881 sqft
    2022-12-01 75 days 1,866 sqft
    2023-01-01 84 days 1,877 sqft
    2023-02-01 69 days 1,867 sqft
    2023-03-01 60 days 1,877 sqft
    2023-04-01 53 days 1,870 sqft
    Daphne's median listing age (time on market) for 2023-04-01 was 53 days. This is 89% longer than the same period one year ago.

    Daphne's median square footage for active listings during the 2023-04-01 period was 1,870 sqft. One year prior, the average listing was 1,980 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.