Davenport VA Loans

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 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.