Gadsden VA Loan Rates, Closing Costs & Stats

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 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.

Gadsden's 44 lenders originated 145 VA loans during 2023. The total origination value was $37,195,000, with an average VA loan value of $256,517.

Gadsden VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Gadsden averaged 6.51% for the week of 2024-07-12, compared to the national average (all VA variants) of 6.364% for the same period.

Gadsden's average VA mortgage closing costs are $4,506.

The average rate for the prior week (2024-07-05) was 6.82% and one month ago for the week of 2024-06-07, the average rate was 6.74%.

The average rate one year ago was 6.61%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.34%.

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

Gadsden 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 Gadsden level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 29 6.80% $3,349
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 18 6.83% $3,939
QUICKEN LOANS, LLC 12 6.36% $11,069
FirstBank 6 6.27% $4,965
NEW DAY FINANCIAL, LLC 5 7.69% $7,257
First Federal Bank, A FSB 5 6.60% $5,548
PENNYMAC LOAN SERVICES, LLC 4 5.06% $4,452
UNITED WHOLESALE MORTGAGE, LLC 4 6.44% $2,678
DHI MORTGAGE COMPANY, LTD. 4 5.12% $3,763
NEWREZ LLC 3 6.92% $9,553
MOVEMENT MORTGAGE, LLC 3 6.04% $2,683
USAA Federal Savings Bank 3 6.13% $10,681
FREEDOM MORTGAGE CORPORATION 3 6.75% $11,798
Renasant Bank 2 6.50% $5,552
Ameris Bank 2 5.75% $4,487
CROSSCOUNTRY MORTGAGE, LLC 2 6.62% $4,709
GUILD MORTGAGE COMPANY 2 5.88% $6,886
HUNT MORTGAGE CORPORATION 2 6.31% $7,146
MILEND, INC. 2 6.69% $8,894
Mr. Cooper ( Nationstar Mortgage ) 2 5.63% $11,568
NAVY FEDERAL CREDIT UNION 2 6.06% $369
ACOPIA, LLC 2 6.50% $914
SUCCESS MORTGAGE PARTNERS, INC. 2 6.69% $5,981
GUARANTEED RATE, INC. 1 7.75% $5,975
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $0
Goldwater Bank, N.A. 1 6.75% $5,788
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 7.13% $13,417
MUTUAL OF OMAHA MORTGAGE, INC. 1 5.88% $600
The Loan Store, Inc. 1 6.50% $3,573
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.13% $5,495
First Financial Bank 1 7.00% $9,584
Paramount Residential Mortgage Group, Inc. 1 6.75% $9,760
Farmers Bank & Trust 1 4.99% $5,345
PENTAGON FEDERAL CREDIT UNION 1 5.63% $10,217
Prosperity Home Mortgage, LLC 1 6.63% $10,691
EMBRACE HOME LOANS, INC. 1 6.25% $5,221
REDSTONE Federal Credit Union 1 6.38% $2,870
Regions Bank 1 7.25% $9,012
HOMESTAR FINANCIAL CORPORATION 1 6.75% $9,836
Barrington Bank & Trust Company, N.A. 1 6.25% $7,820
Ixonia Bank 1 6.88% $10,842
LOANDEPOT.COM, LLC 1 7.13% $9,530
Mid-Continent Funding, Inc. 1 6.63% $9,303
STOCKTON MORTGAGE CORPORATION 1 6.25% $20,148

The top Gadsden VA lender as defined by loan originations is Mortgage Research Center, LLC, with 29 VA loans originated. Their average total fees are $3,349, which is $589 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Gadsden VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,349), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($3,939), QUICKEN LOANS, LLC ($11,069), .

The lowest rate Gadsden VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.36%), Mortgage Research Center, LLC (6.80%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.83%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Gadsden (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 $148,450 (8.4%) $189,116 (9.4%) 0.00 450
2018-02-01 $152,738 (13.0%) $192,205 (11.1%) 0.00 449
2018-03-01 $155,000 (5.4%) $193,312 (6.6%) 0.00 455
2018-04-01 $155,175 (3.5%) $191,110 (1.6%) 0.00 472
2018-05-01 $149,700 (-0.1%) $187,542 (-0.9%) 0.00 473
2018-06-01 $149,900 (0.0%) $191,817 (2.2%) 0.00 475
2018-07-01 $149,900 (0.0%) $192,571 (4.0%) 0.00 508
2018-08-01 $149,900 (0.6%) $189,307 (1.9%) 0.00 517
2018-09-01 $159,900 (4.2%) $195,883 (2.5%) 0.00 521
2018-10-01 $159,900 (3.2%) $195,499 (2.7%) 0.00 522
2018-11-01 $159,900 (3.4%) $195,784 (2.2%) 0.00 500
2018-12-01 $155,900 (4.0%) $193,873 (3.2%) 0.00 473
2019-01-01 $149,900 (1.0%) $191,527 (1.3%) 0.00 449
2019-02-01 $149,675 (-2.0%) $188,608 (-1.9%) 0.00 438
2019-03-01 $155,757 (0.5%) $193,994 (0.4%) 0.00 422
2019-04-01 $164,900 (6.3%) $198,598 (3.9%) 0.00 404
2019-05-01 $169,900 (13.5%) $204,806 (9.2%) 0.00 397
2019-06-01 $174,700 (16.5%) $204,496 (6.6%) 0.00 399
2019-07-01 $174,900 (16.7%) $207,933 (8.0%) 0.00 412
2019-08-01 $169,936 (13.4%) $206,077 (8.9%) 0.00 419
2019-09-01 $164,291 (2.8%) $204,714 (4.5%) 0.00 426
2019-10-01 $160,425 (0.3%) $203,894 (4.3%) 0.00 431
2019-11-01 $169,900 (6.3%) $207,990 (6.2%) 0.00 402
2019-12-01 $169,900 (9.0%) $210,659 (8.7%) 0.00 380
2020-01-01 $169,900 (13.3%) $213,145 (11.3%) 0.00 367
2020-02-01 $165,000 (10.2%) $208,079 (10.3%) 0.00 355
2020-03-01 $179,900 (15.5%) $218,205 (12.5%) 0.00 311
2020-04-01 $183,075 (11.0%) $222,147 (11.9%) 0.00 299
2020-05-01 $179,900 (5.9%) $223,599 (9.2%) 0.00 289
2020-06-01 $184,425 (5.6%) $227,804 (11.4%) 0.00 268
2020-07-01 $189,900 (8.6%) $234,581 (12.8%) 0.00 266
2020-08-01 $175,000 (3.0%) $231,744 (12.5%) 0.00 242
2020-09-01 $172,400 (4.9%) $229,737 (12.2%) 0.00 214
2020-10-01 $169,900 (5.9%) $227,044 (11.4%) 0.00 213
2020-11-01 $169,900 (0.0%) $229,932 (10.6%) 0.00 206
2020-12-01 $169,900 (0.0%) $230,414 (9.4%) 0.00 202
2021-01-01 $168,900 (-0.6%) $232,090 (8.9%) 0.00 173
2021-02-01 $177,450 (7.6%) $243,861 (17.2%) 0.00 136
2021-03-01 $185,550 (3.1%) $251,617 (15.3%) 0.00 127
2021-04-01 $188,900 (3.2%) $253,225 (14.0%) 0.00 136
2021-05-01 $187,900 (4.5%) $260,142 (16.3%) 0.00 118
2021-06-01 $207,500 (12.5%) $265,886 (16.7%) 0.00 128
2021-07-01 $229,900 (21.1%) $264,011 (12.6%) 0.00 167
2021-08-01 $231,150 (32.1%) $273,704 (18.1%) 0.00 170
2021-09-01 $222,475 (29.1%) $272,359 (18.6%) 0.00 166
2021-10-01 $199,900 (17.7%) $258,212 (13.7%) 0.00 160
2021-11-01 $199,900 (17.7%) $239,881 (4.3%) 0.00 160
2021-12-01 $189,900 (11.8%) $233,642 (1.4%) 0.00 155
2022-01-01 $198,000 (17.2%) $247,562 (6.7%) 0.00 123
2022-02-01 $205,725 (15.9%) $247,703 (1.6%) 0.00 101
2022-03-01 $174,450 (-6.0%) $201,022 (-20.1%) 0.00 128
2022-04-01 $192,400 (1.9%) $215,856 (-14.8%) 0.00 120
2022-05-01 $231,175 (23.0%) $258,654 (-0.6%) 0.00 162
2022-06-01 $219,900 (6.0%) $267,037 (0.4%) 0.00 172
2022-07-01 $224,900 (-2.2%) $245,569 (-7.0%) 0.00 203
2022-08-01 $229,945 (-0.5%) $256,177 (-6.4%) 0.00 213
2022-09-01 $226,000 (1.6%) $264,485 (-2.9%) 0.00 230
2022-10-01 $225,198 (12.7%) $258,700 (0.2%) 0.00 233
2022-11-01 $225,000 (12.6%) $258,928 (7.9%) 0.00 243
2022-12-01 $226,950 (19.5%) $259,629 (11.1%) 0.00 220
2023-01-01 $224,900 (13.6%) $255,285 (3.1%) 0.00 191
2023-02-01 $224,950 (9.3%) $258,429 (4.3%) 0.00 190
2023-03-01 $214,450 (22.9%) $245,865 (22.3%) 0.00 184
2023-04-01 $237,000 (23.2%) $272,933 (26.4%) 0.00 166
2023-05-01 $223,475 (-3.3%) $255,303 (-1.3%) 0.00 186
2023-06-01 $220,600 (0.3%) $255,577 (-4.3%) 0.00 188
2023-07-01 $220,000 (-2.2%) $263,839 (7.4%) 0.00 187
2023-08-01 $229,925 (0.0%) $288,831 (12.8%) 0.00 194
2023-09-01 $229,900 (1.7%) $280,021 (5.9%) 0.00 199
2023-10-01 $223,725 (-0.7%) $277,651 (7.3%) 0.00 218
2023-11-01 $237,725 (5.7%) $293,773 (13.5%) 0.00 225
2023-12-01 $230,950 (1.8%) $290,317 (11.8%) 0.00 231
2024-01-01 $248,225 (10.4%) $301,002 (17.9%) 0.00 220
2024-02-01 $252,225 (12.1%) $301,817 (16.8%) 0.00 217
2024-03-01 $248,950 (16.1%) $296,370 (20.5%) 0.00 236
2024-04-01 $247,450 (4.4%) $290,126 (6.3%) 0.00 241
2024-05-01 $248,450 (11.2%) $295,340 (15.7%) 0.00 250
2024-06-01 $249,000 (12.9%) $307,059 (20.1%) 0.00 275
Gadsden's median listing price for 2024-06-01 was $249,000, a difference of $28,400 (12.9%) versus the prior year and $550 versus the prior month.

Gadsden's median listing price comes in at 0% of the national average.

Gadsden's average listing price for 2024-06-01 was $307,059, a difference of $51,482 (20.1%) versus the prior year and $11,719 versus the prior month.

For the 2024-06-01 period, Gadsden had 275 MLS listings, a difference of 25 listings (10%) versus the prior month and 87 listings (46%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Gadsden (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,884 sqft
2018-02-01 0 days 1,900 sqft
2018-03-01 0 days 1,900 sqft
2018-04-01 0 days 1,897 sqft
2018-05-01 0 days 1,879 sqft
2018-06-01 0 days 1,900 sqft
2018-07-01 0 days 1,900 sqft
2018-08-01 0 days 1,872 sqft
2018-09-01 0 days 1,900 sqft
2018-10-01 0 days 1,900 sqft
2018-11-01 0 days 1,900 sqft
2018-12-01 0 days 1,900 sqft
2019-01-01 0 days 1,891 sqft
2019-02-01 0 days 1,885 sqft
2019-03-01 0 days 1,942 sqft
2019-04-01 0 days 2,000 sqft
2019-05-01 0 days 2,028 sqft
2019-06-01 0 days 2,084 sqft
2019-07-01 0 days 2,091 sqft
2019-08-01 0 days 2,065 sqft
2019-09-01 0 days 2,033 sqft
2019-10-01 0 days 2,017 sqft
2019-11-01 0 days 2,052 sqft
2019-12-01 0 days 2,059 sqft
2020-01-01 0 days 2,009 sqft
2020-02-01 0 days 2,000 sqft
2020-03-01 0 days 2,075 sqft
2020-04-01 0 days 2,110 sqft
2020-05-01 0 days 2,110 sqft
2020-06-01 0 days 2,118 sqft
2020-07-01 0 days 2,160 sqft
2020-08-01 0 days 2,100 sqft
2020-09-01 0 days 2,053 sqft
2020-10-01 0 days 2,035 sqft
2020-11-01 0 days 2,086 sqft
2020-12-01 0 days 2,021 sqft
2021-01-01 0 days 2,000 sqft
2021-02-01 0 days 2,064 sqft
2021-03-01 0 days 2,145 sqft
2021-04-01 0 days 2,120 sqft
2021-05-01 0 days 2,095 sqft
2021-06-01 0 days 2,105 sqft
2021-07-01 0 days 2,100 sqft
2021-08-01 0 days 2,094 sqft
2021-09-01 0 days 2,058 sqft
2021-10-01 0 days 2,045 sqft
2021-11-01 0 days 1,998 sqft
2021-12-01 0 days 1,992 sqft
2022-01-01 0 days 1,936 sqft
2022-02-01 0 days 1,973 sqft
2022-03-01 0 days 1,753 sqft
2022-04-01 0 days 1,915 sqft
2022-05-01 0 days 1,919 sqft
2022-06-01 0 days 1,918 sqft
2022-07-01 0 days 1,936 sqft
2022-08-01 0 days 1,934 sqft
2022-09-01 0 days 1,931 sqft
2022-10-01 0 days 1,904 sqft
2022-11-01 0 days 1,975 sqft
2022-12-01 0 days 1,975 sqft
2023-01-01 0 days 1,969 sqft
2023-02-01 0 days 1,970 sqft
2023-03-01 0 days 1,938 sqft
2023-04-01 0 days 2,100 sqft
2023-05-01 0 days 1,953 sqft
2023-06-01 0 days 1,919 sqft
2023-07-01 0 days 1,946 sqft
2023-08-01 0 days 1,962 sqft
2023-09-01 0 days 1,934 sqft
2023-10-01 0 days 1,874 sqft
2023-11-01 0 days 1,899 sqft
2023-12-01 0 days 1,958 sqft
2024-01-01 0 days 2,007 sqft
2024-02-01 0 days 1,983 sqft
2024-03-01 0 days 1,894 sqft
2024-04-01 0 days 1,877 sqft
2024-05-01 0 days 1,958 sqft
2024-06-01 0 days 1,958 sqft
Gadsden's median listing age (time on market) for 2024-06-01 was 0 days.

Gadsden's median square footage for active listings during the 2024-06-01 period was 1,958 sqft. One year prior, the average listing was 1,919 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.