Davenport VA Loans

DAVENPORT-MOLINE-ROCK ISLAND, IA-IL

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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 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.

    Davenport's 97 lenders originated 1,139 VA loans during 2021. The total origination value was $249,925,000, with an average VA loan value of $219,425.

    Davenport VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Davenport averaged 5.54% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.37% and one month ago for the week of 2022-04-08, the average rate was 5%.

    The average rate one year ago was 2.81%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.06%.

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

    Davenport VA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Davenport level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 115 2.85% $4,649
    RUHL MORTGAGE, LLC 77 2.48% $4,088
    QUICKEN LOANS, LLC 75 2.53% $4,280
    BROKER SOLUTIONS, INC. 63 2.72% $7,250
    FREEDOM MORTGAGE CORPORATION 62 2.54% $2,614
    HOMESIDE FINANCIAL, LLC 60 2.90% $5,828
    CALIBER HOME LOANS, INC. 43 2.76% $4,482
    USAA Federal Savings Bank 27 2.79% $4,458
    PENNYMAC LOAN SERVICES, LLC 27 2.74% $4,485
    NEW DAY FINANCIAL, LLC 24 2.84% $5,150
    BNC National Bank 22 2.60% $4,562
    Wells Fargo Bank 21 2.69% $3,439
    Servion, Inc. 21 2.62% $4,998
    NAVY FEDERAL CREDIT UNION 21 2.56% $3,829
    VILLAGE CAPITAL & INVESTMENT LLC 19 2.51% $2,138
    HOME POINT FINANCIAL CORPORATION 17 2.49% $4,600
    NEWREZ LLC 17 2.53% $3,436
    LOANDEPOT.COM, LLC 16 2.83% $4,023
    PLAZA HOME MORTGAGE, INC. 16 2.84% $4,255
    GUARANTEED RATE, INC. 15 2.64% $2,995
    American Bank and Trust Company 15 2.67% $4,594
    Mr. Cooper ( Nationstar Mortgage ) 15 2.98% $3,563
    GUILD MORTGAGE COMPANY 14 2.51% $3,477
    LAKEVIEW LOAN SERVICING, LLC 13 2.69% $2,076
    The Federal Savings Bank 12 2.71% $4,639
    Low VA Rates, LLC 11 2.33% $3,007
    SUCCESS MORTGAGE PARTNERS, INC. 10 3.14% $5,730
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 9 3.43% $5,192
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 3.07% $8,353
    Flanagan State Bank 8 3.00% $6,656
    DuTrac Community Credit Union 8 2.41% $3,667
    UNITED WHOLESALE MORTGAGE, LLC 8 2.55% $8,379
    U.S. Bank 7 2.80% $4,199
    CLEARPATH LENDING 7 2.36% $4,034
    AMERISAVE MORTGAGE CORPORATION 6 2.46% $2,828
    AMERICAN FINANCIAL NETWORK, INC. 6 2.42% $9,256
    NP, Inc. 6 2.29% $5,073
    KELLER MORTGAGE, LLC 5 2.95% $6,312
    Barrington Bank & Trust Company, N.A. 5 2.55% $4,011
    NBKC BANK 4 2.41% $1,644
    First Midwest Bank 4 2.97% $2,132
    Flagstar Bank, FSB 4 2.64% $3,703
    Citizens Bank 4 2.50% $4,987
    SOUTHWEST FUNDING, LP 2 3.31% $8,731
    Armed Forces Bank 2 2.50% $3,129
    Carrington Mortgage Services, LLC 2 3.13% $2,693
    CHERRY CREEK MORTGAGE, LLC 2 2.81% $4,512
    Collins Community Credit Union 2 2.31% $8,466
    CRESCENT MORTGAGE COMPANY 2 2.81% $706
    Fortress Bank 2 2.38% $963
    Gateway First Bank 2 3.19% $792
    GERSHMAN INVESTMENT CORP. 2 3.19% $8,497
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.00% $5,656
    Lakeview Community Capital, LLC 2 2.87% $1,075
    Magnolia Bank 2 2.81% $3,381
    MUTUAL OF OMAHA MORTGAGE, INC. 2 2.50% $3,892
    North American Savings Bank, F.S.B. 2 2.88% $2,962
    PLANET HOME LENDING, LLC 2 2.25% $1,179
    PREMIA MORTGAGE, LLC 2 2.69% $9,153
    Vibrant Credit Union 2 2.63% $4,429
    InterContinental Capital Group, Inc 1 2.50% $3,252
    Ameris Bank 1 3.00% $2,552
    INSPIRE HOME LOANS INC. 1 3.13% $10,210
    HOMESERVICES LENDING, LLC 1 2.75% $12,708
    Neighborhood Loans, Inc. 1 3.00% $2,219
    NETWORK CAPITAL FUNDING CORPORATION 1 2.75% $2,294
    Great Southern Bank 1 2.50% $2,219
    Florida Capital Bank 1 2.50% $3,946
    ZILLOW HOME LOANS, LLC 1 3.63% $8,079
    FLAT BRANCH MORTGAGE, INC. 1 3.38% $2,244
    Paramount Bank 1 2.38% $11,834
    Paramount Residential Mortgage Group, Inc. 1 2.75% $15,431
    FIRST STATE MORTGAGE SERVICES, LLC 1 2.38% $11,686
    PENTAGON FEDERAL CREDIT UNION 1 2.25% $456
    Peoples Bank 1 3.13% $3,008
    AMERICAN FINANCING CORPORATION 1 2.75% $8,117
    First National Bank of Omaha 1 3.00% $10,251
    AMERICAN ADVISORS GROUP 1 2.38% $2,874
    First Guaranty Mortgage Corporation 1 2.50% $1,117
    RESIDENTIAL MORTGAGE NETWORK, INC. 1 2.50% $0
    ROYAL UNITED MORTGAGE LLC 1 2.38% $10,076
    First Federal Bank of Kansas City 1 2.25% $2,126
    Service Federal Credit Union 1 2.88% $2,235
    FINANCE OF AMERICA MORTGAGE LLC 1 2.88% $14,120
    ACCELERATE MORTGAGE, LLC 1 2.25% $8,513
    Fifth Third Bank 1 2.75% $1,612
    SUN WEST MORTGAGE COMPANY, INC. 1 2.25% $1,431
    CROSSCOUNTRY MORTGAGE, LLC 1 3.50% $5,922
    Tyndall Federal Credit Union 1 2.75% $8,387
    UNION HOME MORTGAGE CORP. 1 3.88% $8,985
    CELEBRITY HOME LOANS, LLC 1 3.63% $17,177
    BAYSHORE MORTGAGE FUNDING, LLC 1 2.38% $2,965
    MICHIGAN MUTUAL, INC. 1 4.25% $629
    Mid-Continent Funding, Inc. 1 3.00% $9,524
    LAKE MICHIGAN CREDIT UNION 1 3.00% $1,806
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 2.75% $2,600
    MOVEMENT MORTGAGE, LLC 1 3.13% $450

    The top Davenport VA lender as defined by loan originations is Mortgage Research Center, LLC, with 115 VA loans originated. Their average total fees are $4,649, which is $560 higher than the next largest lender, RUHL MORTGAGE, LLC.

    The lowest fee Davenport VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,076), VILLAGE CAPITAL & INVESTMENT LLC ($2,138), FREEDOM MORTGAGE CORPORATION ($2,614), GUARANTEED RATE, INC. ($2,995) and Low VA Rates, LLC ($3,007).

    The lowest rate Davenport VA lenders (with over 10 loans originated) are Low VA Rates, LLC (2.33%), RUHL MORTGAGE, LLC (2.48%), HOME POINT FINANCIAL CORPORATION (2.49%), VILLAGE CAPITAL & INVESTMENT LLC (2.51%) and GUILD MORTGAGE COMPANY (2.51%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Davenport (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 $142,000 (4.3%) $205,677 (6.7%) 0.52 1,275
    2018-02-01 $139,950 (-1.7%) $204,834 (1.8%) 0.50 1,227
    2018-03-01 $149,900 (5.2%) $207,989 (2.5%) 0.52 1,230
    2018-04-01 $164,950 (17.8%) $229,724 (11.2%) 0.55 1,185
    2018-05-01 $159,900 (9.9%) $225,308 (6.6%) 0.53 1,243
    2018-06-01 $165,000 (10.1%) $225,921 (4.3%) 0.55 1,327
    2018-07-01 $160,000 (6.7%) $222,679 (3.1%) 0.53 1,385
    2018-08-01 $161,500 (7.7%) $220,823 (2.8%) 0.54 1,435
    2018-09-01 $159,000 (7.4%) $217,922 (4.2%) 0.53 1,470
    2018-10-01 $154,900 (3.7%) $212,846 (2.5%) 0.52 1,464
    2018-11-01 $149,900 (0.5%) $209,054 (-0.1%) 0.50 1,443
    2018-12-01 $149,000 (2.8%) $202,997 (-1.7%) 0.51 1,329
    2019-01-01 $149,000 (4.9%) $206,086 (0.2%) 0.51 1,206
    2019-02-01 $148,450 (6.1%) $205,794 (0.5%) 0.50 1,171
    2019-03-01 $145,000 (-3.3%) $208,359 (0.2%) 0.47 1,176
    2019-04-01 $145,000 (-12.1%) $210,989 (-8.2%) 0.46 1,213
    2019-05-01 $148,450 (-7.2%) $209,494 (-7.0%) 0.46 1,235
    2019-06-01 $154,900 (-6.1%) $213,006 (-5.7%) 0.48 1,352
    2019-07-01 $151,000 (-5.6%) $209,586 (-5.9%) 0.47 1,354
    2019-08-01 $152,000 (-5.9%) $208,076 (-5.8%) 0.48 1,396
    2019-09-01 $152,000 (-4.4%) $207,702 (-4.7%) 0.48 1,430
    2019-10-01 $149,900 (-3.2%) $205,510 (-3.5%) 0.48 1,478
    2019-11-01 $147,500 (-1.6%) $203,385 (-2.7%) 0.48 1,451
    2019-12-01 $142,400 (-4.4%) $197,916 (-2.5%) 0.47 1,362
    2020-01-01 $142,000 (-4.7%) $198,858 (-3.5%) 0.47 1,294
    2020-02-01 $141,900 (-4.4%) $199,507 (-3.1%) 0.46 1,200
    2020-03-01 $142,900 (-1.5%) $205,130 (-1.6%) 0.45 1,106
    2020-04-01 $151,450 (4.5%) $211,672 (0.3%) 0.47 1,074
    2020-05-01 $160,000 (7.8%) $220,107 (5.1%) 0.48 1,023
    2020-06-01 $176,200 (13.8%) $227,599 (6.9%) 0.51 942
    2020-07-01 $178,990 (18.5%) $232,728 (11.0%) 0.51 903
    2020-08-01 $167,500 (10.2%) $228,163 (9.7%) 0.48 875
    2020-09-01 $172,450 (13.5%) $229,545 (10.5%) 0.49 834
    2020-10-01 $149,500 (-0.3%) $215,355 (4.8%) 0.43 825
    2020-11-01 $141,600 (-4.0%) $210,729 (3.6%) 0.41 817
    2020-12-01 $139,900 (-1.8%) $209,605 (5.9%) 0.41 746
    2021-01-01 $129,995 (-8.5%) $204,442 (2.8%) 0.38 637
    2021-02-01 $129,900 (-8.5%) $213,494 (7.0%) 0.37 532
    2021-03-01 $142,350 (-0.4%) $215,767 (5.2%) 0.40 504
    2021-04-01 $157,450 (4.0%) $222,506 (5.1%) 0.42 465
    2021-05-01 $162,500 (1.6%) $217,982 (-1.0%) 0.43 484
    2021-06-01 $149,900 (-14.9%) $216,765 (-4.8%) 0.39 653
    2021-07-01 $134,950 (-24.6%) $198,417 (-14.7%) 0.35 775
    2021-08-01 $128,000 (-23.6%) $191,709 (-16.0%) 0.34 828
    2021-09-01 $129,400 (-25.0%) $192,190 (-16.3%) 0.34 913
    2021-10-01 $134,900 (-9.8%) $191,322 (-11.2%) 0.36 955
    2021-11-01 $134,900 (-4.7%) $187,495 (-11.0%) 0.36 902
    2021-12-01 $129,450 (-7.5%) $185,289 (-11.6%) 0.35 815
    2022-01-01 $127,500 (-1.9%) $178,154 (-12.9%) 0.34 649
    2022-02-01 $127,400 (-1.9%) $179,146 (-16.1%) 0.32 517
    2022-03-01 $134,900 (-5.2%) $187,863 (-12.9%) 0.33 424
    2022-04-01 $142,000 (-9.8%) $201,722 (-9.3%) 0.33 411
    Davenport's median listing price for 2022-04-01 was $142,000, a difference of $-15,450 (-9.8%) versus the prior year and $7,100 versus the prior month.

    Davenport's median listing price comes in at 33% of the national average.

    Davenport's average listing price for 2022-04-01 was $201,722, a difference of $-20,784 (-9.3%) versus the prior year and $13,859 versus the prior month.

    For the 2022-04-01 period, Davenport had 411 MLS listings, a difference of -13 listings (-3%) versus the prior month and -54 listings (-12%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Davenport (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 74 days 1,514 sqft
    2018-02-01 71 days 1,506 sqft
    2018-03-01 61 days 1,544 sqft
    2018-04-01 52 days 1,572 sqft
    2018-05-01 47 days 1,550 sqft
    2018-06-01 50 days 1,550 sqft
    2018-07-01 52 days 1,541 sqft
    2018-08-01 52 days 1,518 sqft
    2018-09-01 57 days 1,512 sqft
    2018-10-01 59 days 1,480 sqft
    2018-11-01 61 days 1,474 sqft
    2018-12-01 66 days 1,474 sqft
    2019-01-01 72 days 1,474 sqft
    2019-02-01 74 days 1,474 sqft
    2019-03-01 64 days 1,474 sqft
    2019-04-01 40 days 1,474 sqft
    2019-05-01 36 days 1,478 sqft
    2019-06-01 39 days 1,524 sqft
    2019-07-01 29 days 1,715 sqft
    2019-08-01 53 days 1,735 sqft
    2019-09-01 58 days 1,732 sqft
    2019-10-01 63 days 1,734 sqft
    2019-11-01 65 days 1,681 sqft
    2019-12-01 74 days 1,642 sqft
    2020-01-01 83 days 1,632 sqft
    2020-02-01 88 days 1,606 sqft
    2020-03-01 75 days 1,606 sqft
    2020-04-01 70 days 1,633 sqft
    2020-05-01 66 days 1,643 sqft
    2020-06-01 62 days 1,717 sqft
    2020-07-01 57 days 1,725 sqft
    2020-08-01 50 days 1,723 sqft
    2020-09-01 53 days 1,723 sqft
    2020-10-01 50 days 1,629 sqft
    2020-11-01 54 days 1,606 sqft
    2020-12-01 60 days 1,580 sqft
    2021-01-01 70 days 1,555 sqft
    2021-02-01 68 days 1,563 sqft
    2021-03-01 60 days 1,562 sqft
    2021-04-01 49 days 1,554 sqft
    2021-05-01 40 days 1,554 sqft
    2021-06-01 30 days 1,517 sqft
    2021-07-01 36 days 1,486 sqft
    2021-08-01 42 days 1,474 sqft
    2021-09-01 48 days 1,484 sqft
    2021-10-01 49 days 1,494 sqft
    2021-11-01 57 days 1,509 sqft
    2021-12-01 65 days 1,474 sqft
    2022-01-01 77 days 1,451 sqft
    2022-02-01 79 days 1,431 sqft
    2022-03-01 52 days 1,468 sqft
    2022-04-01 42 days 1,474 sqft
    Davenport's median listing age (time on market) for 2022-04-01 was 42 days. This is -13% shorter than the same period one year ago.

    Davenport's median square footage for active listings during the 2022-04-01 period was 1,474 sqft. One year prior, the average listing was 1,554 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.