Davenport VA Loan Rates, Closing Costs & Stats

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 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 7.07% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.8% and one month ago for the week of 2024-03-15, the average rate was 6.56%.

    The average rate one year ago was 6.05%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.73%.

    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
    Davenport's median listing price for 2024-03-01 was $212,450, a difference of $2,550 (1.2%) versus the prior year and $1,250 versus the prior month.

    Davenport's median listing price comes in at 50% of the national average.

    Davenport's average listing price for 2024-03-01 was $291,368, a difference of $37,234 (14.7%) versus the prior year and $10,445 versus the prior month.

    For the 2024-03-01 period, Davenport had 516 MLS listings, a difference of -1 listings (0%) versus the prior month and 26 listings (5%) 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 1,621 sqft
    2024-03-01 40 days 1,612 sqft
    Davenport's median listing age (time on market) for 2024-03-01 was 40 days. This is -15% shorter than the same period one year ago.

    Davenport's median square footage for active listings during the 2024-03-01 period was 1,612 sqft. One year prior, the average listing was 1,499 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.