Decatur VA Loan Rates, Closing Costs & Stats

DECATUR, AL

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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.

    Decatur's 63 lenders originated 255 VA loans during 2023. The total origination value was $76,095,000, with an average VA loan value of $298,412.

    Decatur VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Decatur averaged 7% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Decatur's average VA mortgage closing costs are $5,441.

    The average rate for the prior week (2024-04-12) was 6.93% and one month ago for the week of 2024-03-15, the average rate was 6.39%.

    The average rate one year ago was 6.28%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.67%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 37 6.70% $5,528
    UNITED WHOLESALE MORTGAGE, LLC 20 6.34% $8,048
    QUICKEN LOANS, LLC 16 6.28% $7,870
    USAA Federal Savings Bank 9 6.35% $6,319
    DHI MORTGAGE COMPANY, LTD. 8 5.54% $4,220
    FREEDOM MORTGAGE CORPORATION 8 6.25% $12,847
    NAVY FEDERAL CREDIT UNION 8 5.69% $4,085
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.85% $8,330
    MOVEMENT MORTGAGE, LLC 6 6.63% $5,761
    REDSTONE Federal Credit Union 6 6.13% $5,538
    NEW DAY FINANCIAL, LLC 5 7.94% $13,872
    BROKER SOLUTIONS, INC. 5 6.73% $5,059
    LOANDEPOT.COM, LLC 5 5.15% $12,111
    Renasant Bank 5 6.70% $5,526
    CARDINAL FINANCIAL 5 6.70% $10,182
    Synovus Bank 4 6.66% $7,252
    FirstBank 4 6.19% $6,588
    GMFS LLC 4 6.41% $3,641
    GUILD MORTGAGE COMPANY 4 7.38% $6,129
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.16% $4,200
    VILLAGE CAPITAL MORTGAGE 3 5.79% $14,458
    Mr. Cooper ( Nationstar Mortgage ) 3 5.83% $11,300
    CROSSCOUNTRY MORTGAGE, LLC 3 7.02% $7,408
    Armed Forces Bank 3 6.17% $6,578
    The Federal Savings Bank 3 6.54% $9,181
    TJC Mortgage, Inc. 2 6.38% $17,104
    First Federal Bank 2 5.75% $16,026
    Equity Prime Mortgage LLC 2 6.69% $7,770
    PENNYMAC LOAN SERVICES, LLC 2 6.06% $16,049
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.00% $5,937
    NEWREZ LLC 2 6.25% $4,850
    MORTGAGE INVESTORS GROUP, INC. 2 6.25% $1,790
    Hamilton Mortgage Corporation 2 6.69% $6,569
    Flagstar Bank, FSB 2 5.81% $4,726
    Barrington Bank & Trust Company, N.A. 2 6.50% $4,643
    PNC Bank 2 6.81% $1,994
    Wells Fargo Bank 1 5.25% $9,959
    Bank Independent 1 6.13% $15,289
    BNC National Bank 1 5.13% $18,066
    Century Mortgage Company DBA Century Lending Company 1 6.99% $9,735
    CHURCHILL MORTGAGE CORPORATION 1 5.75% $4,004
    Cornerstone First Mortgage, Inc 1 6.75% $11,066
    FIRST COLONY MORTGAGE CORPORATION 1 6.75% $19,624
    FirstTrust Home Loans, Inc. 1 6.00% $1,353
    GENEVA FINANCIAL, LLC 1 7.63% $10,250
    Magnolia Bank 1 5.88% $12,156
    Mid-Continent Funding, Inc. 1 6.75% $6,184
    MORIA DEVELOPMENT, INC. 1 5.75% $7,662
    NETWORK CAPITAL FUNDING CORPORATION 1 6.25% $7,944
    PENTAGON FEDERAL CREDIT UNION 1 4.88% $2,643
    Pinnacle Bank 1 6.00% $11,791
    Plains Commerce Bank 1 6.25% $10,651
    PLANET HOME LENDING, LLC 1 5.88% $14,962
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $6,409
    Princeton Mortgage Corporation 1 7.63% $2,242
    Regions Bank 1 7.13% $8,933
    SIRVA MORTGAGE, INC. 1 7.13% $2,499
    SOUTHWEST STAGE FUNDING, LLC 1 6.38% $894
    Stifel Bank and Trust 1 6.00% $1,961
    SUN WEST MORTGAGE COMPANY, INC. 1 5.50% $7,704
    Trustmark National Bank 1 7.63% $2,837
    UNION HOME MORTGAGE CORP. 1 6.00% $17,786
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $2,285

    The top Decatur VA lender as defined by loan originations is Mortgage Research Center, LLC, with 37 VA loans originated. Their average total fees are $5,528, which is $2,519 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Decatur VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,528), QUICKEN LOANS, LLC ($7,870), UNITED WHOLESALE MORTGAGE, LLC ($8,048), .

    The lowest rate Decatur VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.28%), UNITED WHOLESALE MORTGAGE, LLC (6.34%), Mortgage Research Center, LLC (6.70%), .

    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
    2024-01-01 $295,950 (-3.7%) $353,397 (-1.1%) 0.72 300
    2024-02-01 $297,900 (-3.1%) $362,572 (1.7%) 0.72 302
    2024-03-01 $296,900 (-0.5%) $344,664 (-2.0%) 0.70 292
    Decatur's median listing price for 2024-03-01 was $296,900, a difference of $-1,497 (-0.5%) versus the prior year and $-1,000 versus the prior month.

    Decatur's median listing price comes in at 70% of the national average.

    Decatur's average listing price for 2024-03-01 was $344,664, a difference of $-6,941 (-2.0%) versus the prior year and $-17,908 versus the prior month.

    For the 2024-03-01 period, Decatur had 292 MLS listings, a difference of -10 listings (-3%) versus the prior month and 97 listings (50%) 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 2,045 sqft
    2023-11-01 53 days 2,021 sqft
    2023-12-01 56 days 1,935 sqft
    2024-01-01 65 days 1,906 sqft
    2024-02-01 77 days 1,945 sqft
    2024-03-01 58 days 1,925 sqft
    Decatur's median listing age (time on market) for 2024-03-01 was 58 days. This is 21% longer than the same period one year ago.

    Decatur's median square footage for active listings during the 2024-03-01 period was 1,925 sqft. One year prior, the average listing was 2,079 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.