Gadsden VA Loan Rates, Closing Costs & Stats

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 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 7.1% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.84% and one month ago for the week of 2024-03-15, the average rate was 6.5%.

    The average rate one year ago was 6.19%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.03%.

    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
    Gadsden's median listing price for 2024-03-01 was $248,950, a difference of $34,500 (16.1%) versus the prior year and $-3,275 versus the prior month.

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

    Gadsden's average listing price for 2024-03-01 was $296,370, a difference of $50,505 (20.5%) versus the prior year and $-5,447 versus the prior month.

    For the 2024-03-01 period, Gadsden had 236 MLS listings, a difference of 19 listings (9%) versus the prior month and 52 listings (28%) 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
    Gadsden's median listing age (time on market) for 2024-03-01 was 0 days.

    Gadsden's median square footage for active listings during the 2024-03-01 period was 1,894 sqft. One year prior, the average listing was 1,938 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.