Decatur VA Loan Rates, Closing Costs & Stats

DECATUR, AL

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.

Decatur's 78 lenders originated 362 VA loans during 2022. The total origination value was $102,910,000, with an average VA loan value of $284,282.

Decatur VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Decatur averaged 6.55% for the week of 2024-02-16, compared to the national average (all VA variants) of 6.462% for the same period.

Decatur's average VA mortgage closing costs are $5,203.

The average rate for the prior week (2024-02-09) was 6.31% and one month ago for the week of 2024-01-12, the average rate was 5.86%.

The average rate one year ago was 5.73%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.29%.

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

Decatur 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 Decatur level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 52 5.07% $6,521
QUICKEN LOANS, LLC 25 3.96% $8,889
FREEDOM MORTGAGE CORPORATION 18 4.52% $10,566
LOANDEPOT.COM, LLC 14 4.53% $11,552
UNITED WHOLESALE MORTGAGE, LLC 12 4.34% $6,242
PENNYMAC LOAN SERVICES, LLC 12 3.88% $8,383
NEW DAY FINANCIAL, LLC 11 5.29% $10,866
NAVY FEDERAL CREDIT UNION 10 4.56% $3,378
Flagstar Bank, FSB 10 4.31% $6,383
Hometown Lenders, Inc. 9 4.63% $6,327
HOME POINT FINANCIAL CORPORATION 8 4.45% $8,403
MOVEMENT MORTGAGE, LLC 8 4.63% $4,820
USAA Federal Savings Bank 8 4.39% $6,424
Synovus Bank 7 5.18% $2,554
TJC Mortgage, Inc. 7 4.86% $8,942
SouthPoint Bank 6 4.65% $7,039
FirstBank 6 5.08% $7,380
NEWREZ LLC 5 4.13% $9,884
BROKER SOLUTIONS, INC. 5 5.40% $10,078
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 4.60% $6,843
AMERISAVE MORTGAGE CORPORATION 5 4.98% $11,703
VANDERBILT MORTGAGE AND FINANCE, INC. 4 5.47% $10,293
REDSTONE Federal Credit Union 4 4.47% $2,726
CARDINAL FINANCIAL 4 5.22% $8,756
The Federal Savings Bank 4 3.72% $11,073
Regions Bank 4 4.22% $14,432
GMFS LLC 3 4.38% $5,935
Equity Prime Mortgage LLC 3 6.79% $6,586
FIRST COMMUNITY MORTGAGE, INC. 3 3.25% $5,773
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 4.33% $5,612
CALIBER HOME LOANS, INC. 3 4.25% $5,370
SIRVA MORTGAGE, INC. 3 5.17% $6,919
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 5.92% $2,441
Progress Bank and Trust 3 3.00% $15,734
GUILD MORTGAGE COMPANY 2 5.06% $7,651
Total Media Management, LLC 2 4.19% $7,001
PREMIA MORTGAGE, LLC 2 3.63% $4,290
Trustmark National Bank 2 4.75% $5,965
VILLAGE CAPITAL MORTGAGE 2 3.81% $5,142
SECURITYNATIONAL MORTGAGE COMPANY 2 4.56% $10,990
Bank Independent 2 4.63% $10,376
RELIANCE FIRST CAPITAL, LLC 2 5.50% $7,582
Mid-Continent Funding, Inc. 2 4.25% $2,952
Mr. Cooper ( Nationstar Mortgage ) 2 4.50% $7,170
MUTUAL OF OMAHA MORTGAGE, INC. 2 4.81% $13,589
Wolfe Financial, Inc 1 3.25% $600
Armed Forces Bank 1 4.63% $7,897
Assurance Financial Group, L.L.C. 1 4.75% $7,823
Barrington Bank & Trust Company, N.A. 1 3.75% $8,403
BNC National Bank 1 5.25% $2,536
Carrington Mortgage Services, LLC 1 3.75% $2,750
CERTAINTY HOME LOANS, LLC 1 5.88% $8,164
CLEARPATH LENDING 1 3.13% $19,857
Consumer First Mortgage, Inc. 1 5.75% $4,773
CORNERSTONE HOME LENDING, INC. 1 4.75% $3,833
CROSSCOUNTRY MORTGAGE, LLC 1 5.75% $16,959
DHI MORTGAGE COMPANY, LTD. 1 2.75% $7,809
FINANCE OF AMERICA MORTGAGE LLC 1 5.50% $0
First Federal Bank 1 3.88% $12,241
First Federal Bank, A FSB 1 3.25% $2,915
GUARANTEED RATE AFFINITY, LLC 1 3.63% $2,153
GUARANTY HOME MORTGAGE CORPORATION 1 4.75% $3,912
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 4.88% $15,596
KELLER MORTGAGE, LLC 1 3.75% $2,276
LEADERONE FINANCIAL CORPORATION 1 5.75% $3,723
NATIONS DIRECT MORTGAGE, LLC 1 4.25% $8,091
North American Savings Bank, F.S.B. 1 3.38% $7,328
PENTAGON FEDERAL CREDIT UNION 1 3.50% $9,864
PLANET HOME LENDING, LLC 1 2.88% $9,128
Prosperity Home Mortgage, LLC 1 5.38% $11,738
SOUTHWEST STAGE FUNDING, LLC 1 5.88% $86
SUMMIT FUNDING, INC. 1 7.25% $9,727
Texana Bank 1 3.63% $2,519
The First National Bank of Middle Tennessee 1 2.75% $2,076
TOWNE MORTGAGE COMPANY 1 6.63% $6,576
UNION HOME MORTGAGE CORP. 1 4.50% $12,700
Waterstone Mortgage Corporation 1 5.13% $4,258
Wells Fargo Bank 1 3.13% $1,768

The top Decatur VA lender as defined by loan originations is Mortgage Research Center, LLC, with 52 VA loans originated. Their average total fees are $6,521, which is $2,368 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Decatur VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($3,378), UNITED WHOLESALE MORTGAGE, LLC ($6,242), Flagstar Bank, FSB ($6,383), Mortgage Research Center, LLC ($6,521) and PENNYMAC LOAN SERVICES, LLC ($8,383).

The lowest rate Decatur VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.88%), QUICKEN LOANS, LLC (3.96%), Flagstar Bank, FSB (4.31%), UNITED WHOLESALE MORTGAGE, LLC (4.34%) and FREEDOM MORTGAGE CORPORATION (4.52%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Decatur (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 $175,175 (16.9%) $216,029 (17.1%) 0.65 560
2018-02-01 $174,925 (16.7%) $218,289 (20.5%) 0.64 558
2018-03-01 $175,000 (16.7%) $218,806 (17.3%) 0.61 537
2018-04-01 $182,400 (14.1%) $223,722 (16.8%) 0.62 518
2018-05-01 $179,950 (9.6%) $218,401 (11.9%) 0.60 545
2018-06-01 $179,993 (6.2%) $216,990 (5.2%) 0.60 554
2018-07-01 $187,900 (10.6%) $226,759 (9.3%) 0.63 523
2018-08-01 $179,900 (5.9%) $223,650 (7.4%) 0.60 521
2018-09-01 $189,500 (11.5%) $226,709 (9.0%) 0.64 504
2018-10-01 $184,900 (8.9%) $224,935 (9.1%) 0.63 499
2018-11-01 $183,675 (8.1%) $225,595 (9.4%) 0.62 485
2018-12-01 $185,000 (8.9%) $227,662 (6.3%) 0.64 474
2019-01-01 $182,450 (4.2%) $226,490 (4.8%) 0.63 452
2019-02-01 $184,925 (5.7%) $225,725 (3.4%) 0.62 435
2019-03-01 $182,757 (4.4%) $226,306 (3.4%) 0.60 399
2019-04-01 $180,257 (-1.2%) $229,471 (2.6%) 0.57 374
2019-05-01 $192,100 (6.8%) $241,353 (10.5%) 0.60 376
2019-06-01 $199,900 (11.1%) $247,243 (13.9%) 0.62 377
2019-07-01 $195,450 (4.0%) $250,341 (10.4%) 0.61 381
2019-08-01 $203,636 (13.2%) $257,024 (14.9%) 0.64 378
2019-09-01 $201,590 (6.4%) $259,003 (14.2%) 0.65 374
2019-10-01 $200,000 (8.2%) $259,922 (15.6%) 0.65 370
2019-11-01 $199,950 (8.9%) $264,249 (17.1%) 0.66 355
2019-12-01 $199,775 (8.0%) $263,042 (15.5%) 0.67 331
2020-01-01 $201,415 (10.4%) $267,726 (18.2%) 0.67 310
2020-02-01 $199,999 (8.2%) $262,468 (16.3%) 0.65 293
2020-03-01 $210,690 (15.3%) $253,762 (12.1%) 0.66 252
2020-04-01 $217,450 (20.6%) $265,541 (15.7%) 0.68 247
2020-05-01 $220,000 (14.5%) $260,523 (7.9%) 0.67 241
2020-06-01 $215,225 (7.7%) $252,965 (2.3%) 0.63 218
2020-07-01 $216,400 (10.7%) $255,870 (2.2%) 0.63 221
2020-08-01 $229,900 (12.9%) $284,330 (10.6%) 0.66 200
2020-09-01 $229,925 (14.1%) $285,807 (10.4%) 0.66 196
2020-10-01 $229,900 (15.0%) $291,237 (12.1%) 0.66 192
2020-11-01 $228,791 (14.4%) $289,256 (9.5%) 0.67 181
2020-12-01 $224,900 (12.6%) $285,079 (8.4%) 0.67 175
2021-01-01 $223,750 (11.1%) $291,958 (9.1%) 0.67 152
2021-02-01 $235,338 (17.7%) $310,661 (18.4%) 0.69 124
2021-03-01 $232,700 (10.5%) $308,594 (21.6%) 0.66 131
2021-04-01 $258,675 (19.0%) $327,041 (23.2%) 0.70 121
2021-05-01 $287,000 (30.5%) $357,547 (37.2%) 0.76 114
2021-06-01 $266,475 (23.8%) $362,588 (43.3%) 0.70 122
2021-07-01 $264,000 (22.0%) $347,425 (35.8%) 0.70 137
2021-08-01 $265,303 (15.4%) $378,191 (33.0%) 0.71 154
2021-09-01 $264,900 (15.2%) $389,977 (36.5%) 0.71 172
2021-10-01 $270,000 (17.4%) $387,748 (33.1%) 0.72 187
2021-11-01 $269,375 (17.7%) $389,327 (34.6%) 0.72 185
2021-12-01 $260,925 (16.0%) $362,874 (27.3%) 0.71 170
2022-01-01 $259,000 (15.8%) $351,285 (20.3%) 0.70 142
2022-02-01 $269,000 (14.3%) $376,666 (21.3%) 0.70 112
2022-03-01 $268,900 (15.6%) $363,143 (17.7%) 0.67 127
2022-04-01 $250,000 (-3.4%) $340,851 (4.2%) 0.60 132
2022-05-01 $281,167 (-2.0%) $338,770 (-5.3%) 0.64 177
2022-06-01 $286,475 (7.5%) $332,408 (-8.3%) 0.64 218
2022-07-01 $275,000 (4.2%) $331,967 (-4.5%) 0.62 266
2022-08-01 $299,450 (12.9%) $336,299 (-11.1%) 0.69 272
2022-09-01 $299,900 (13.2%) $331,694 (-15.0%) 0.70 268
2022-10-01 $304,900 (12.9%) $333,539 (-14.0%) 0.72 267
2022-11-01 $297,000 (10.3%) $332,697 (-14.6%) 0.71 258
2022-12-01 $289,900 (11.1%) $345,022 (-4.9%) 0.72 245
2023-01-01 $307,450 (18.7%) $357,434 (1.8%) 0.76 207
2023-02-01 $307,450 (14.3%) $356,633 (-5.3%) 0.74 200
2023-03-01 $298,397 (11.0%) $351,605 (-3.2%) 0.70 195
2023-04-01 $310,900 (24.4%) $356,252 (4.5%) 0.72 174
2023-05-01 $343,150 (22.0%) $384,075 (13.4%) 0.78 183
2023-06-01 $336,125 (17.3%) $382,992 (15.2%) 0.76 187
2023-07-01 $315,000 (14.6%) $377,515 (13.7%) 0.72 226
2023-08-01 $318,933 (6.5%) $380,875 (13.3%) 0.73 241
2023-09-01 $302,450 (0.9%) $375,564 (13.2%) 0.70 258
2023-10-01 $299,450 (-1.8%) $366,002 (9.7%) 0.70 290
2023-11-01 $294,850 (-0.7%) $359,236 (8.0%) 0.70 306
2023-12-01 $294,900 (1.7%) $352,193 (2.1%) 0.72 320
Decatur's median listing price for 2023-12-01 was $294,900, a difference of $5,000 (1.7%) versus the prior year and $50 versus the prior month.

Decatur's median listing price comes in at 72% of the national average.

Decatur's average listing price for 2023-12-01 was $352,193, a difference of $7,171 (2.1%) versus the prior year and $-7,043 versus the prior month.

For the 2023-12-01 period, Decatur had 320 MLS listings, a difference of 14 listings (5%) versus the prior month and 75 listings (31%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Decatur (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 102 days 2,081 sqft
2018-02-01 101 days 2,129 sqft
2018-03-01 93 days 2,143 sqft
2018-04-01 78 days 2,172 sqft
2018-05-01 69 days 2,143 sqft
2018-06-01 68 days 2,150 sqft
2018-07-01 74 days 2,200 sqft
2018-08-01 70 days 2,119 sqft
2018-09-01 71 days 2,170 sqft
2018-10-01 77 days 2,122 sqft
2018-11-01 79 days 2,108 sqft
2018-12-01 85 days 2,157 sqft
2019-01-01 95 days 2,134 sqft
2019-02-01 94 days 2,161 sqft
2019-03-01 79 days 2,161 sqft
2019-04-01 68 days 2,158 sqft
2019-05-01 56 days 2,201 sqft
2019-06-01 52 days 2,250 sqft
2019-07-01 51 days 2,228 sqft
2019-08-01 56 days 2,251 sqft
2019-09-01 62 days 2,253 sqft
2019-10-01 63 days 2,249 sqft
2019-11-01 64 days 2,207 sqft
2019-12-01 72 days 2,193 sqft
2020-01-01 78 days 2,183 sqft
2020-02-01 67 days 2,100 sqft
2020-03-01 55 days 2,103 sqft
2020-04-01 57 days 2,188 sqft
2020-05-01 52 days 2,175 sqft
2020-06-01 38 days 2,127 sqft
2020-07-01 34 days 2,097 sqft
2020-08-01 38 days 2,153 sqft
2020-09-01 37 days 2,168 sqft
2020-10-01 35 days 2,183 sqft
2020-11-01 44 days 2,206 sqft
2020-12-01 45 days 2,144 sqft
2021-01-01 47 days 2,100 sqft
2021-02-01 48 days 2,131 sqft
2021-03-01 26 days 2,101 sqft
2021-04-01 29 days 2,181 sqft
2021-05-01 27 days 2,218 sqft
2021-06-01 23 days 2,189 sqft
2021-07-01 23 days 2,058 sqft
2021-08-01 22 days 2,049 sqft
2021-09-01 24 days 2,126 sqft
2021-10-01 32 days 2,184 sqft
2021-11-01 33 days 2,136 sqft
2021-12-01 38 days 2,121 sqft
2022-01-01 45 days 2,127 sqft
2022-02-01 28 days 2,107 sqft
2022-03-01 15 days 2,088 sqft
2022-04-01 19 days 2,040 sqft
2022-05-01 17 days 2,071 sqft
2022-06-01 26 days 2,092 sqft
2022-07-01 25 days 2,090 sqft
2022-08-01 38 days 2,134 sqft
2022-09-01 44 days 2,071 sqft
2022-10-01 52 days 2,143 sqft
2022-11-01 58 days 2,185 sqft
2022-12-01 66 days 2,201 sqft
2023-01-01 75 days 2,203 sqft
2023-02-01 69 days 2,200 sqft
2023-03-01 48 days 2,079 sqft
2023-04-01 40 days 2,199 sqft
2023-05-01 38 days 2,259 sqft
2023-06-01 44 days 2,253 sqft
2023-07-01 29 days 2,094 sqft
2023-08-01 37 days 2,186 sqft
2023-09-01 42 days 2,129 sqft
2023-10-01 48 days 2,044 sqft
2023-11-01 53 days 2,029 sqft
2023-12-01 56 days 1,935 sqft
Decatur's median listing age (time on market) for 2023-12-01 was 56 days. This is -15% shorter than the same period one year ago.

Decatur's median square footage for active listings during the 2023-12-01 period was 1,935 sqft. One year prior, the average listing was 2,201 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.