Gadsden VA Loans
GADSDEN, 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 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.
Gadsden's 57 lenders originated 313 VA loans during 2021. The total origination value was $61,015,000, with an average VA loan value of $194,936.
Gadsden VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Gadsden
averaged
5.49%
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
5.32% and
one month ago for the week of 2022-04-08, the
average rate was 4.95%.
The average rate one year ago was 2.86%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.52%.
Gadsden 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 Gadsden level.
The top Gadsden VA lender as defined by loan originations is QUICKEN LOANS, LLC, with
32 VA loans originated. Their average total fees are
$4,020, which is $433
higher than the next largest lender,
Mortgage Research Center, LLC.
The lowest fee Gadsden VA lenders (with over 10 loans originated) are
FREEDOM MORTGAGE CORPORATION ($1,214), LOANDEPOT.COM, LLC ($2,844), Mortgage Research Center, LLC ($3,588), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($3,894) and First Federal Bank, A FSB ($3,902).
The lowest rate Gadsden VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION (2.43%), QUICKEN LOANS, LLC (2.55%), FREEDOM MORTGAGE CORPORATION (2.60%), PENNYMAC LOAN SERVICES, LLC (2.61%) and LOANDEPOT.COM, LLC (2.67%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Gadsden (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $156,500 (9.9%) | $201,852 (10.1%) | 0.00 | 500 |
2018-02-01 | $159,900 (10.7%) | $204,208 (10.5%) | 0.00 | 491 |
2018-03-01 | $159,900 (4.9%) | $203,331 (4.9%) | 0.00 | 505 |
2018-04-01 | $159,900 (0.0%) | $201,105 (0.0%) | 0.00 | 523 |
2018-05-01 | $154,950 (-3.1%) | $197,175 (-2.7%) | 0.00 | 525 |
2018-06-01 | $154,900 (-2.4%) | $202,516 (-0.3%) | 0.00 | 530 |
2018-07-01 | $154,900 (3.3%) | $201,078 (1.1%) | 0.00 | 562 |
2018-08-01 | $155,425 (0.5%) | $199,053 (-0.8%) | 0.00 | 567 |
2018-09-01 | $165,000 (3.2%) | $206,027 (1.9%) | 0.00 | 575 |
2018-10-01 | $165,400 (3.4%) | $204,744 (1.9%) | 0.00 | 578 |
2018-11-01 | $164,500 (2.9%) | $204,512 (0.6%) | 0.00 | 551 |
2018-12-01 | $159,900 (3.2%) | $202,222 (2.1%) | 0.00 | 520 |
2019-01-01 | $157,400 (0.6%) | $201,244 (-0.3%) | 0.00 | 498 |
2019-02-01 | $152,400 (-4.7%) | $198,269 (-2.9%) | 0.00 | 484 |
2019-03-01 | $158,407 (-0.9%) | $205,333 (1.0%) | 0.00 | 469 |
2019-04-01 | $169,825 (6.2%) | $211,369 (5.1%) | 0.00 | 454 |
2019-05-01 | $177,950 (14.8%) | $217,397 (10.3%) | 0.00 | 451 |
2019-06-01 | $179,900 (16.1%) | $216,099 (6.7%) | 0.00 | 452 |
2019-07-01 | $179,900 (16.1%) | $218,427 (8.6%) | 0.00 | 464 |
2019-08-01 | $176,929 (13.8%) | $217,800 (9.4%) | 0.00 | 458 |
2019-09-01 | $176,879 (7.2%) | $216,599 (5.1%) | 0.00 | 449 |
2019-10-01 | $169,900 (2.7%) | $216,681 (5.8%) | 0.00 | 485 |
2019-11-01 | $179,000 (8.8%) | $223,485 (9.3%) | 0.00 | 464 |
2019-12-01 | $182,200 (14.0%) | $227,164 (12.3%) | 0.00 | 440 |
2020-01-01 | $174,900 (11.1%) | $228,104 (13.4%) | 0.00 | 428 |
2020-02-01 | $174,900 (14.8%) | $219,115 (10.5%) | 0.00 | 414 |
2020-03-01 | $189,900 (19.9%) | $229,609 (11.8%) | 0.00 | 366 |
2020-04-01 | $194,900 (14.8%) | $238,252 (12.7%) | 0.00 | 358 |
2020-05-01 | $189,900 (6.7%) | $236,771 (8.9%) | 0.00 | 349 |
2020-06-01 | $199,900 (11.1%) | $247,191 (14.4%) | 0.00 | 309 |
2020-07-01 | $199,900 (11.1%) | $254,866 (16.7%) | 0.00 | 310 |
2020-08-01 | $189,900 (7.3%) | $250,554 (15.0%) | 0.00 | 281 |
2020-09-01 | $189,900 (7.4%) | $249,281 (15.1%) | 0.00 | 253 |
2020-10-01 | $179,900 (5.9%) | $242,634 (12.0%) | 0.00 | 258 |
2020-11-01 | $179,900 (0.5%) | $245,484 (9.8%) | 0.00 | 247 |
2020-12-01 | $179,200 (-1.7%) | $249,019 (9.6%) | 0.00 | 238 |
2021-01-01 | $177,700 (1.6%) | $247,712 (8.6%) | 0.00 | 197 |
2021-02-01 | $184,900 (5.7%) | $255,572 (16.6%) | 0.00 | 154 |
2021-03-01 | $195,000 (2.7%) | $260,200 (13.3%) | 0.00 | 141 |
2021-04-01 | $193,600 (-0.7%) | $260,742 (9.4%) | 0.00 | 146 |
2021-05-01 | $189,900 (0.0%) | $265,362 (12.1%) | 0.00 | 130 |
2021-06-01 | $209,900 (5.0%) | $271,110 (9.7%) | 0.00 | 140 |
2021-07-01 | $225,000 (12.6%) | $263,534 (3.4%) | 0.00 | 174 |
2021-08-01 | $229,900 (21.1%) | $274,635 (9.6%) | 0.00 | 175 |
2021-09-01 | $219,900 (15.8%) | $273,087 (9.6%) | 0.00 | 177 |
2021-10-01 | $199,900 (11.1%) | $256,408 (5.7%) | 0.00 | 169 |
2021-11-01 | $199,700 (11.0%) | $234,550 (-4.5%) | 0.00 | 166 |
2021-12-01 | $189,900 (6.0%) | $229,683 (-7.8%) | 0.00 | 161 |
2022-01-01 | $190,000 (6.9%) | $241,765 (-2.4%) | 0.00 | 131 |
2022-02-01 | $198,950 (7.6%) | $245,362 (-4.0%) | 0.00 | 105 |
2022-03-01 | $172,500 (-11.5%) | $199,333 (-23.4%) | 0.00 | 129 |
2022-04-01 | $198,700 (2.6%) | $216,082 (-17.1%) | 0.00 | 120 |
Gadsden's median listing price comes in at 0% of the national average.
Gadsden's average listing price for 2022-04-01 was $216,082, a difference of $-44,660 (-17.1%) versus the prior year and $16,749 versus the prior month.
For the 2022-04-01 period, Gadsden had 120 MLS listings, a difference of -9 listings (-7%) versus the prior month and -26 listings (-18%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Gadsden (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,902 sqft |
2018-02-01 | 0 days | 1,920 sqft |
2018-03-01 | 0 days | 1,950 sqft |
2018-04-01 | 0 days | 1,945 sqft |
2018-05-01 | 0 days | 1,942 sqft |
2018-06-01 | 0 days | 1,975 sqft |
2018-07-01 | 0 days | 1,973 sqft |
2018-08-01 | 0 days | 1,925 sqft |
2018-09-01 | 0 days | 1,964 sqft |
2018-10-01 | 0 days | 1,938 sqft |
2018-11-01 | 0 days | 1,931 sqft |
2018-12-01 | 0 days | 1,938 sqft |
2019-01-01 | 0 days | 1,933 sqft |
2019-02-01 | 0 days | 1,911 sqft |
2019-03-01 | 0 days | 1,990 sqft |
2019-04-01 | 0 days | 2,044 sqft |
2019-05-01 | 0 days | 2,100 sqft |
2019-06-01 | 0 days | 2,136 sqft |
2019-07-01 | 0 days | 2,118 sqft |
2019-08-01 | 0 days | 2,096 sqft |
2019-09-01 | 0 days | 2,079 sqft |
2019-10-01 | 0 days | 2,085 sqft |
2019-11-01 | 0 days | 2,133 sqft |
2019-12-01 | 0 days | 2,138 sqft |
2020-01-01 | 0 days | 2,078 sqft |
2020-02-01 | 0 days | 2,040 sqft |
2020-03-01 | 0 days | 2,141 sqft |
2020-04-01 | 0 days | 2,200 sqft |
2020-05-01 | 0 days | 2,196 sqft |
2020-06-01 | 0 days | 2,213 sqft |
2020-07-01 | 0 days | 2,272 sqft |
2020-08-01 | 0 days | 2,200 sqft |
2020-09-01 | 0 days | 2,168 sqft |
2020-10-01 | 0 days | 2,123 sqft |
2020-11-01 | 0 days | 2,115 sqft |
2020-12-01 | 0 days | 2,079 sqft |
2021-01-01 | 0 days | 2,043 sqft |
2021-02-01 | 0 days | 2,120 sqft |
2021-03-01 | 0 days | 2,172 sqft |
2021-04-01 | 0 days | 2,149 sqft |
2021-05-01 | 0 days | 2,100 sqft |
2021-06-01 | 0 days | 2,118 sqft |
2021-07-01 | 0 days | 2,100 sqft |
2021-08-01 | 0 days | 2,081 sqft |
2021-09-01 | 0 days | 2,055 sqft |
2021-10-01 | 0 days | 2,035 sqft |
2021-11-01 | 0 days | 1,981 sqft |
2021-12-01 | 0 days | 1,983 sqft |
2022-01-01 | 0 days | 1,912 sqft |
2022-02-01 | 0 days | 1,963 sqft |
2022-03-01 | 0 days | 1,750 sqft |
2022-04-01 | 0 days | 1,933 sqft |
Gadsden's median square footage for active listings during the 2022-04-01 period was 1,933 sqft. One year prior, the average listing was 2,149 sqft.