Davenport VA Loan Rates, Closing Costs & Stats

DAVENPORT-MOLINE-ROCK ISLAND, IA-IL

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.

Davenport's 51 lenders originated 399 VA loans during 2023. The total origination value was $101,335,000, with an average VA loan value of $253,972.

Davenport VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Davenport averaged 6.71% for the week of 2024-05-17, compared to the national average (all VA variants) of 6.502% for the same period.

Davenport's average VA mortgage closing costs are $4,969.

The average rate for the prior week (2024-05-10) was 6.52% and one month ago for the week of 2024-04-12, the average rate was 6.6%.

The average rate one year ago was 6.41%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.68%.

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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Davenport level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 91 6.74% $5,233
BROKER SOLUTIONS, INC. 42 6.21% $9,954
RUHL MORTGAGE, LLC 31 6.24% $7,071
NEWREZ LLC 28 6.22% $6,998
GREENSTATE CREDIT UNION 20 6.09% $6,537
USAA Federal Savings Bank 14 6.34% $9,739
HOMESIDE FINANCIAL, LLC 12 6.91% $8,118
NAVY FEDERAL CREDIT UNION 12 5.79% $3,391
QUICKEN LOANS, LLC 11 6.36% $9,539
UNITED WHOLESALE MORTGAGE, LLC 9 6.31% $7,412
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.47% $4,984
SUCCESS MORTGAGE PARTNERS, INC. 8 6.80% $8,159
Plains Commerce Bank 7 6.30% $6,181
NEW DAY FINANCIAL, LLC 6 7.66% $9,967
CROSSCOUNTRY MORTGAGE, LLC 6 6.81% $7,343
FREEDOM MORTGAGE CORPORATION 6 6.58% $12,836
GUARANTEED RATE, INC. 6 6.48% $2,237
MOVEMENT MORTGAGE, LLC 6 7.13% $5,478
Barrington Bank & Trust Company, N.A. 5 6.53% $9,215
Flanagan State Bank 5 6.78% $6,471
PENNYMAC LOAN SERVICES, LLC 4 5.47% $5,512
SUN WEST MORTGAGE COMPANY, INC. 4 7.16% $8,683
U.S. Bank 4 6.66% $6,524
LOANDEPOT.COM, LLC 3 7.00% $3,682
Mr. Cooper ( Nationstar Mortgage ) 3 5.92% $9,942
American Bank and Trust Company 3 6.25% $3,145
CARDINAL FINANCIAL 3 6.58% $6,932
PLAZA HOME MORTGAGE, INC. 3 5.92% $6,517
CALIBER HOME LOANS, INC. 3 6.83% $3,181
VILLAGE CAPITAL MORTGAGE 2 6.00% $3,189
BNC National Bank 2 6.25% $8,545
FLAT BRANCH MORTGAGE, INC. 2 6.69% $10,063
PENTAGON FEDERAL CREDIT UNION 2 5.81% $3,818
The Federal Savings Bank 2 6.50% $10,333
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $15,371
North American Savings Bank, F.S.B. 1 6.75% $5,716
Neighborhood Loans, Inc. 1 6.75% $5,834
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $4,461
RESIDENTIAL MORTGAGE NETWORK, INC. 1 6.50% $8,309
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.13% $5,090
RUOFF MORTGAGE COMPANY, INC. 1 7.25% $3,688
Servion, Inc. 1 5.75% $4,764
GUILD MORTGAGE COMPANY 1 6.13% $2,138
Flagstar Bank, FSB 1 7.13% $5,973
AMERISAVE MORTGAGE CORPORATION 1 6.75% $10,173
TOWNE MORTGAGE COMPANY 1 5.75% $10,004
United Fidelity Funding Corp. 1 6.75% $1,305
Equity Prime Mortgage LLC 1 7.25% $17,009
Armed Forces Bank 1 6.50% $13,207
OPEN MORTGAGE, LLC 1 6.75% $5,836
Old National Bank 1 6.75% $3,639

The top Davenport VA lender as defined by loan originations is Mortgage Research Center, LLC, with 91 VA loans originated. Their average total fees are $5,233, which is $4,721 lower than the next largest lender, BROKER SOLUTIONS, INC..

The lowest fee Davenport VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($3,391), Mortgage Research Center, LLC ($5,233), GREENSTATE CREDIT UNION ($6,537), NEWREZ LLC ($6,998) and RUHL MORTGAGE, LLC ($7,071).

The lowest rate Davenport VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.79%), GREENSTATE CREDIT UNION (6.09%), BROKER SOLUTIONS, INC. (6.21%), NEWREZ LLC (6.22%) and RUHL MORTGAGE, LLC (6.24%).


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 $143,725 (6.5%) $206,931 (7.3%) 0.53 1,241
2018-02-01 $143,250 (0.6%) $206,833 (2.6%) 0.52 1,198
2018-03-01 $149,900 (3.8%) $210,557 (2.8%) 0.53 1,207
2018-04-01 $166,475 (18.3%) $229,432 (10.2%) 0.56 1,171
2018-05-01 $164,800 (10.3%) $225,915 (6.7%) 0.55 1,220
2018-06-01 $167,700 (11.8%) $226,153 (4.2%) 0.56 1,309
2018-07-01 $160,975 (7.4%) $221,520 (2.0%) 0.54 1,368
2018-08-01 $163,950 (9.4%) $223,513 (2.8%) 0.55 1,416
2018-09-01 $159,900 (6.7%) $220,091 (3.9%) 0.54 1,446
2018-10-01 $155,000 (3.4%) $214,588 (1.7%) 0.53 1,441
2018-11-01 $151,313 (0.9%) $211,468 (-0.5%) 0.51 1,423
2018-12-01 $149,900 (0.6%) $206,019 (-1.7%) 0.52 1,318
2019-01-01 $149,450 (4.0%) $206,392 (-0.3%) 0.52 1,195
2019-02-01 $148,950 (4.0%) $206,746 (0.0%) 0.50 1,153
2019-03-01 $145,857 (-2.7%) $209,980 (-0.3%) 0.48 1,155
2019-04-01 $147,250 (-11.6%) $213,524 (-6.9%) 0.47 1,188
2019-05-01 $149,900 (-9.0%) $212,632 (-5.9%) 0.47 1,201
2019-06-01 $155,000 (-7.6%) $214,857 (-5.0%) 0.48 1,311
2019-07-01 $154,750 (-3.9%) $212,242 (-4.2%) 0.48 1,330
2019-08-01 $153,609 (-6.3%) $210,524 (-5.8%) 0.49 1,390
2019-09-01 $151,523 (-5.2%) $209,278 (-4.9%) 0.48 1,429
2019-10-01 $149,900 (-3.3%) $208,447 (-2.9%) 0.48 1,459
2019-11-01 $149,900 (-0.9%) $205,948 (-2.6%) 0.49 1,437
2019-12-01 $145,500 (-2.9%) $200,538 (-2.7%) 0.49 1,357
2020-01-01 $144,825 (-3.1%) $201,284 (-2.5%) 0.48 1,290
2020-02-01 $144,000 (-3.3%) $201,898 (-2.3%) 0.47 1,198
2020-03-01 $144,975 (-0.6%) $207,763 (-1.1%) 0.45 1,103
2020-04-01 $156,175 (6.1%) $215,209 (0.8%) 0.49 1,067
2020-05-01 $165,000 (10.1%) $223,799 (5.3%) 0.50 1,011
2020-06-01 $179,495 (15.8%) $231,759 (7.9%) 0.53 932
2020-07-01 $181,923 (17.6%) $236,031 (11.2%) 0.53 892
2020-08-01 $170,000 (10.7%) $231,493 (10.0%) 0.49 864
2020-09-01 $176,800 (16.7%) $232,897 (11.3%) 0.51 832
2020-10-01 $149,900 (0.0%) $218,282 (4.7%) 0.43 823
2020-11-01 $142,500 (-4.9%) $213,129 (3.5%) 0.42 812
2020-12-01 $141,225 (-2.9%) $212,768 (6.1%) 0.42 737
2021-01-01 $131,950 (-8.9%) $208,295 (3.5%) 0.39 623
2021-02-01 $130,975 (-9.1%) $218,215 (8.1%) 0.38 523
2021-03-01 $142,450 (-1.7%) $220,476 (6.1%) 0.40 493
2021-04-01 $165,125 (5.7%) $231,232 (7.5%) 0.45 464
2021-05-01 $165,000 (0.0%) $225,612 (0.8%) 0.44 486
2021-06-01 $151,125 (-15.8%) $221,475 (-4.4%) 0.40 649
2021-07-01 $130,000 (-28.5%) $197,664 (-16.3%) 0.34 800
2021-08-01 $128,725 (-24.3%) $195,044 (-15.8%) 0.34 823
2021-09-01 $129,950 (-26.5%) $195,123 (-16.2%) 0.35 900
2021-10-01 $135,000 (-9.9%) $194,639 (-10.8%) 0.36 948
2021-11-01 $134,925 (-5.3%) $189,684 (-11.0%) 0.36 895
2021-12-01 $129,500 (-8.3%) $187,429 (-11.9%) 0.35 806
2022-01-01 $124,950 (-5.3%) $180,338 (-13.4%) 0.34 640
2022-02-01 $126,000 (-3.8%) $180,566 (-17.3%) 0.33 503
2022-03-01 $134,900 (-5.3%) $190,461 (-13.6%) 0.34 413
2022-04-01 $142,500 (-13.7%) $204,230 (-11.7%) 0.34 407
2022-05-01 $165,000 (0.0%) $232,357 (3.0%) 0.38 459
2022-06-01 $175,000 (15.8%) $237,207 (7.1%) 0.39 532
2022-07-01 $189,900 (46.1%) $245,153 (24.0%) 0.43 552
2022-08-01 $192,000 (49.2%) $254,836 (30.7%) 0.44 567
2022-09-01 $215,225 (65.6%) $266,708 (36.7%) 0.50 572
2022-10-01 $195,500 (44.8%) $254,477 (30.7%) 0.46 625
2022-11-01 $182,500 (35.3%) $247,380 (30.4%) 0.44 684
2022-12-01 $189,900 (46.6%) $247,772 (32.2%) 0.47 625
2023-01-01 $190,000 (52.1%) $250,106 (38.7%) 0.47 552
2023-02-01 $201,975 (60.3%) $248,341 (37.5%) 0.49 533
2023-03-01 $209,900 (55.6%) $254,134 (33.4%) 0.50 490
2023-04-01 $219,950 (54.4%) $263,259 (28.9%) 0.51 495
2023-05-01 $222,450 (34.8%) $269,602 (16.0%) 0.50 477
2023-06-01 $234,950 (34.3%) $275,343 (16.1%) 0.53 514
2023-07-01 $250,000 (31.7%) $293,496 (19.7%) 0.57 534
2023-08-01 $240,450 (25.2%) $292,502 (14.8%) 0.55 560
2023-09-01 $237,098 (10.2%) $292,868 (9.8%) 0.55 568
2023-10-01 $238,000 (21.7%) $288,442 (13.4%) 0.56 604
2023-11-01 $234,125 (28.3%) $288,170 (16.5%) 0.56 627
2023-12-01 $224,900 (18.4%) $281,567 (13.6%) 0.55 597
2024-01-01 $217,950 (14.7%) $278,923 (11.5%) 0.53 539
2024-02-01 $211,200 (4.6%) $280,923 (13.1%) 0.51 517
2024-03-01 $212,450 (1.2%) $291,368 (14.7%) 0.50 516
2024-04-01 $226,597 (3.0%) $302,148 (14.8%) 0.53 540
Davenport's median listing price for 2024-04-01 was $226,597, a difference of $6,647 (3.0%) versus the prior year and $14,147 versus the prior month.

Davenport's median listing price comes in at 53% of the national average.

Davenport's average listing price for 2024-04-01 was $302,148, a difference of $38,889 (14.8%) versus the prior year and $10,780 versus the prior month.

For the 2024-04-01 period, Davenport had 540 MLS listings, a difference of 24 listings (5%) versus the prior month and 45 listings (9%) 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 73 days 1,509 sqft
2018-02-01 68 days 1,506 sqft
2018-03-01 60 days 1,540 sqft
2018-04-01 51 days 1,564 sqft
2018-05-01 45 days 1,543 sqft
2018-06-01 47 days 1,546 sqft
2018-07-01 50 days 1,530 sqft
2018-08-01 51 days 1,518 sqft
2018-09-01 54 days 1,513 sqft
2018-10-01 58 days 1,489 sqft
2018-11-01 59 days 1,475 sqft
2018-12-01 65 days 1,474 sqft
2019-01-01 71 days 1,474 sqft
2019-02-01 73 days 1,474 sqft
2019-03-01 59 days 1,474 sqft
2019-04-01 40 days 1,474 sqft
2019-05-01 37 days 1,477 sqft
2019-06-01 44 days 1,520 sqft
2019-07-01 50 days 1,715 sqft
2019-08-01 54 days 1,749 sqft
2019-09-01 59 days 1,753 sqft
2019-10-01 61 days 1,756 sqft
2019-11-01 63 days 1,700 sqft
2019-12-01 72 days 1,656 sqft
2020-01-01 80 days 1,638 sqft
2020-02-01 82 days 1,609 sqft
2020-03-01 73 days 1,611 sqft
2020-04-01 72 days 1,665 sqft
2020-05-01 61 days 1,699 sqft
2020-06-01 54 days 1,753 sqft
2020-07-01 52 days 1,741 sqft
2020-08-01 45 days 1,723 sqft
2020-09-01 49 days 1,723 sqft
2020-10-01 47 days 1,633 sqft
2020-11-01 52 days 1,611 sqft
2020-12-01 60 days 1,593 sqft
2021-01-01 66 days 1,566 sqft
2021-02-01 63 days 1,593 sqft
2021-03-01 53 days 1,591 sqft
2021-04-01 41 days 1,591 sqft
2021-05-01 34 days 1,597 sqft
2021-06-01 28 days 1,544 sqft
2021-07-01 36 days 1,474 sqft
2021-08-01 41 days 1,474 sqft
2021-09-01 47 days 1,490 sqft
2021-10-01 48 days 1,496 sqft
2021-11-01 56 days 1,515 sqft
2021-12-01 65 days 1,480 sqft
2022-01-01 76 days 1,463 sqft
2022-02-01 77 days 1,442 sqft
2022-03-01 45 days 1,468 sqft
2022-04-01 38 days 1,474 sqft
2022-05-01 34 days 1,579 sqft
2022-06-01 37 days 1,588 sqft
2022-07-01 38 days 1,625 sqft
2022-08-01 43 days 1,617 sqft
2022-09-01 42 days 1,604 sqft
2022-10-01 43 days 1,570 sqft
2022-11-01 48 days 1,556 sqft
2022-12-01 59 days 1,546 sqft
2023-01-01 71 days 1,549 sqft
2023-02-01 62 days 1,505 sqft
2023-03-01 47 days 1,499 sqft
2023-04-01 47 days 1,546 sqft
2023-05-01 46 days 1,549 sqft
2023-06-01 44 days 1,609 sqft
2023-07-01 40 days 1,667 sqft
2023-08-01 40 days 1,665 sqft
2023-09-01 40 days 1,677 sqft
2023-10-01 41 days 1,686 sqft
2023-11-01 43 days 1,690 sqft
2023-12-01 51 days 1,658 sqft
2024-01-01 64 days 1,622 sqft
2024-02-01 61 days 1,620 sqft
2024-03-01 40 days 1,612 sqft
2024-04-01 43 days 1,660 sqft
Davenport's median listing age (time on market) for 2024-04-01 was 43 days. This is -8% shorter than the same period one year ago.

Davenport's median square footage for active listings during the 2024-04-01 period was 1,660 sqft. One year prior, the average listing was 1,546 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.