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%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Gadsden level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 32 2.55% $4,020
Mortgage Research Center, LLC 32 3.01% $3,588
FREEDOM MORTGAGE CORPORATION 17 2.60% $1,214
First Federal Bank, A FSB 17 2.92% $3,902
PENNYMAC LOAN SERVICES, LLC 16 2.61% $4,531
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 3.01% $3,894
LOANDEPOT.COM, LLC 10 2.67% $2,844
NAVY FEDERAL CREDIT UNION 10 2.43% $5,419
GUILD MORTGAGE COMPANY 8 2.64% $6,526
NEW DAY FINANCIAL, LLC 7 2.94% $5,400
LAKEVIEW LOAN SERVICING, LLC 7 2.54% $2,199
UNITED WHOLESALE MORTGAGE, LLC 6 2.56% $4,502
Renasant Bank 5 2.73% $4,701
USAA Federal Savings Bank 5 2.90% $2,651
HOME POINT FINANCIAL CORPORATION 5 2.67% $5,414
FirstBank 4 2.56% $6,997
MORTGAGE INVESTORS GROUP, INC. 3 3.25% $4,020
VILLAGE CAPITAL & INVESTMENT LLC 3 2.50% $1,998
Goldwater Bank, N.A. 3 3.00% $5,275
CERTAINTY HOME LOANS, LLC 3 2.42% $11,320
Wells Fargo Bank 3 2.75% $5,929
MUTUAL OF OMAHA MORTGAGE, INC. 3 2.83% $5,092
AMERISAVE MORTGAGE CORPORATION 3 2.50% $7,436
SOUTHWEST FUNDING, LP 2 3.50% $6,746
AMERICAN FINANCIAL RESOURCES, INC. 2 3.44% $3,742
CALIBER HOME LOANS, INC. 2 2.25% $1,637
CLEARPATH LENDING 2 2.25% $2,419
CROSSCOUNTRY MORTGAGE, LLC 2 2.75% $2,193
HOMESTAR FINANCIAL CORPORATION 2 3.50% $7,111
INTERLINC MORTGAGE SERVICES, LLC 2 3.13% $844
PLANET HOME LENDING, LLC 2 2.50% $2,047
Trustmark National Bank 2 2.38% $12,250
Mid-Continent Funding, Inc. 1 3.25% $1,907
InterContinental Capital Group, Inc 1 2.25% $2,019
FIRST COMMUNITY MORTGAGE, INC. 1 2.63% $3,753
Mr. Cooper ( Nationstar Mortgage ) 1 4.13% $2,675
CRESCENT MORTGAGE COMPANY 1 2.63% $1,469
Nations Lending Corporation 1 3.75% $5,919
Consumer First Mortgage, Inc. 1 3.63% $2,267
NBKC BANK 1 2.75% $6,536
Carrington Mortgage Services, LLC 1 4.25% $2,768
NEWREZ LLC 1 2.63% $1,413
Northpointe Bank 1 3.00% $1,118
CALCON MUTUAL MORTGAGE LLC 1 4.25% $4,499
PENTAGON FEDERAL CREDIT UNION 1 2.25% $2,274
AMERICAN FINANCIAL NETWORK, INC. 1 2.38% $7,233
Cadence Bank, N.A. 1 2.63% $3,639
Regions Bank 1 3.25% $1,108
BBVA USA 1 3.63% $528
ACCELERATE MORTGAGE, LLC 1 1.99% $9,041
Truist Bank 1 2.70% $25,129
ACOPIA, LLC 1 3.25% $4,575
Barrington Bank & Trust Company, N.A. 1 2.63% $1,471
Bank of England 1 2.25% $2,427
VANDERBILT MORTGAGE AND FINANCE, INC. 1 3.50% $2,669
Low VA Rates, LLC 1 2.25% $5,872
Magnolia Bank 1 3.25% $2,710

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. Louis
Date 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 for 2022-04-01 was $198,700, a difference of $5,100 (2.6%) versus the prior year and $26,200 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2022-04-01 was 0 days.

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.

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.