Gadsden VA Loans

GADSDEN, 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 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.