Gainesville VA Loan Rates, Closing Costs & Stats

GAINESVILLE, GA

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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.

    Gainesville's 63 lenders originated 199 VA loans during 2023. The total origination value was $79,665,000, with an average VA loan value of $400,327.

    Gainesville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Gainesville averaged 6.8% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Gainesville's average VA mortgage closing costs are $6,774.

    The average rate for the prior week (2024-04-12) was 6.53% and one month ago for the week of 2024-03-15, the average rate was 6.5%.

    The average rate one year ago was 6.09%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.4%.

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

    Gainesville 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 Gainesville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 22 6.51% $9,409
    UNITED WHOLESALE MORTGAGE, LLC 18 6.21% $7,267
    QUICKEN LOANS, LLC 12 6.13% $16,048
    HOMESTAR FINANCIAL CORPORATION 10 6.78% $10,847
    NAVY FEDERAL CREDIT UNION 10 5.91% $6,649
    FREEDOM MORTGAGE CORPORATION 10 6.50% $17,497
    VANDERBILT MORTGAGE AND FINANCE, INC. 9 5.76% $5,679
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.81% $9,237
    Ameris Bank 6 6.17% $12,217
    NEW DAY FINANCIAL, LLC 6 7.50% $13,552
    BROKER SOLUTIONS, INC. 5 6.10% $10,786
    LOANDEPOT.COM, LLC 5 5.67% $13,939
    USAA Federal Savings Bank 4 5.81% $10,456
    GUARANTEED RATE, INC. 4 6.23% $7,307
    The Federal Savings Bank 3 6.25% $20,266
    MOVEMENT MORTGAGE, LLC 3 7.04% $8,311
    FIRST COMMUNITY MORTGAGE, INC. 2 7.63% $12,759
    AMERISAVE MORTGAGE CORPORATION 2 5.50% $21,357
    Capital City Home Loans, LLC 2 6.63% $34,634
    CMG MORTGAGE, INC. 2 6.50% $5,245
    Wells Fargo Bank 2 5.38% $13,937
    Prosperity Home Mortgage, LLC 2 5.69% $3,655
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.25% $12,716
    PENTAGON FEDERAL CREDIT UNION 2 5.75% $3,948
    EVERETT FINANCIAL, INC. 2 6.63% $16,988
    Regions Bank 2 6.38% $5,259
    Paramount Residential Mortgage Group, Inc. 2 6.25% $8,652
    STOCKTON MORTGAGE CORPORATION 2 6.25% $8,539
    Synovus Bank 1 6.50% $4,953
    T2 FINANCIAL LLC 1 7.13% $6,119
    Truist 1 5.13% $4,768
    UNION HOME MORTGAGE CORP. 1 5.38% $18,941
    United Community Bank 1 7.00% $6,447
    VILLAGE CAPITAL MORTGAGE 1 6.00% $9,453
    ACOPIA, LLC 1 5.75% $689
    ZILLOW HOME LOANS, LLC 1 7.25% $0
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.25% $1,754
    Bank of England 1 6.13% $4,593
    BNC National Bank 1 5.88% $7,773
    CALIBER HOME LOANS, INC. 1 6.25% $13,671
    CARDINAL FINANCIAL 1 5.75% $20,816
    Carrington Mortgage Services, LLC 1 5.13% $6,867
    Century Mortgage Company DBA Century Lending Company 1 5.63% $12,475
    CROSSCOUNTRY MORTGAGE, LLC 1 5.75% $15,612
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.25% $22,424
    FLAT BRANCH MORTGAGE, INC. 1 6.75% $6,829
    GMFS LLC 1 6.13% $9,827
    Goldwater Bank, N.A. 1 6.63% $12,893
    GUARANTEED RATE AFFINITY, LLC 1 6.15% $29,915
    GUARANTY MORTGAGE SERVICES, L.L.C. 1 7.25% $5,293
    GUILD MORTGAGE COMPANY 1 5.38% $9,383
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.50% $4,224
    LAKEVIEW LOAN SERVICING, LLC 1 5.25% $10,176
    Mid-Continent Funding, Inc. 1 5.75% $2,587
    MORTGAGE INVESTORS GROUP, INC. 1 5.50% $15,806
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $14,651
    NATIONWIDE MORTGAGE BANKERS, INC. 1 7.75% $8,882
    NBKC BANK 1 6.00% $3,275
    NEWREZ LLC 1 6.75% $17,918
    ONY GLO, INC. 1 5.13% $33,005
    PENNYMAC LOAN SERVICES, LLC 1 5.49% $8,627
    PULTE MORTGAGE LLC 1 6.88% $792
    SHELTER HOME MORTGAGE, LLC 1 6.13% $8,155

    The top Gainesville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 22 VA loans originated. Their average total fees are $9,409, which is $2,142 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Gainesville VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($6,649), UNITED WHOLESALE MORTGAGE, LLC ($7,267), Mortgage Research Center, LLC ($9,409), HOMESTAR FINANCIAL CORPORATION ($10,847) and QUICKEN LOANS, LLC ($16,048).

    The lowest rate Gainesville VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.91%), QUICKEN LOANS, LLC (6.13%), UNITED WHOLESALE MORTGAGE, LLC (6.21%), FREEDOM MORTGAGE CORPORATION (6.50%) and Mortgage Research Center, LLC (6.51%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Gainesville (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 $317,450 (5.8%) $432,480 (1.0%) 1.18 852
    2018-02-01 $324,825 (4.9%) $433,052 (-0.6%) 1.18 893
    2018-03-01 $335,463 (5.3%) $440,567 (1.7%) 1.18 915
    2018-04-01 $349,900 (7.7%) $470,120 (7.7%) 1.19 1,018
    2018-05-01 $349,900 (6.4%) $447,946 (1.8%) 1.17 1,071
    2018-06-01 $352,950 (7.0%) $461,402 (7.7%) 1.18 1,072
    2018-07-01 $352,746 (8.5%) $454,211 (6.5%) 1.18 1,076
    2018-08-01 $355,450 (9.3%) $457,845 (6.7%) 1.19 1,066
    2018-09-01 $352,463 (8.5%) $453,005 (6.7%) 1.18 1,075
    2018-10-01 $339,925 (4.1%) $439,127 (3.5%) 1.15 1,224
    2018-11-01 $339,975 (6.4%) $441,847 (5.0%) 1.15 1,177
    2018-12-01 $337,900 (9.0%) $432,480 (2.4%) 1.17 1,164
    2019-01-01 $338,475 (6.6%) $442,973 (2.4%) 1.17 1,089
    2019-02-01 $347,460 (7.0%) $470,817 (8.7%) 1.17 1,063
    2019-03-01 $328,471 (-2.1%) $443,095 (0.6%) 1.07 1,213
    2019-04-01 $299,900 (-14.3%) $392,982 (-16.4%) 0.95 1,478
    2019-05-01 $299,900 (-14.3%) $395,652 (-11.7%) 0.94 1,521
    2019-06-01 $289,900 (-17.9%) $397,158 (-13.9%) 0.91 1,551
    2019-07-01 $286,945 (-18.7%) $396,743 (-12.7%) 0.90 1,566
    2019-08-01 $285,527 (-19.7%) $388,923 (-15.1%) 0.90 1,554
    2019-09-01 $286,243 (-18.8%) $380,961 (-15.9%) 0.92 1,495
    2019-10-01 $305,625 (-10.1%) $407,943 (-7.1%) 0.99 1,239
    2019-11-01 $324,000 (-4.7%) $440,447 (-0.3%) 1.06 1,017
    2019-12-01 $321,680 (-4.8%) $442,671 (2.4%) 1.07 978
    2020-01-01 $318,308 (-6.0%) $447,870 (1.1%) 1.06 910
    2020-02-01 $320,758 (-7.7%) $459,250 (-2.5%) 1.05 889
    2020-03-01 $339,900 (3.5%) $470,219 (6.1%) 1.07 942
    2020-04-01 $340,215 (13.4%) $472,622 (20.3%) 1.07 978
    2020-05-01 $349,999 (16.7%) $488,072 (23.4%) 1.06 915
    2020-06-01 $352,696 (21.7%) $494,146 (24.4%) 1.04 792
    2020-07-01 $352,475 (22.8%) $501,063 (26.3%) 1.02 744
    2020-08-01 $364,950 (27.8%) $516,058 (32.7%) 1.05 656
    2020-09-01 $372,175 (30.0%) $544,887 (43.0%) 1.07 583
    2020-10-01 $361,585 (18.3%) $524,286 (28.5%) 1.04 561
    2020-11-01 $362,000 (11.7%) $543,112 (23.3%) 1.06 502
    2020-12-01 $357,759 (11.2%) $553,336 (25.0%) 1.06 443
    2021-01-01 $365,000 (14.7%) $576,801 (28.8%) 1.09 362
    2021-02-01 $398,800 (24.3%) $615,006 (33.9%) 1.16 274
    2021-03-01 $384,450 (13.1%) $618,370 (31.5%) 1.09 278
    2021-04-01 $415,000 (22.0%) $672,535 (42.3%) 1.12 265
    2021-05-01 $439,750 (25.6%) $671,518 (37.6%) 1.17 276
    2021-06-01 $419,931 (19.1%) $693,195 (40.3%) 1.11 320
    2021-07-01 $419,900 (19.1%) $705,574 (40.8%) 1.11 397
    2021-08-01 $418,000 (14.5%) $657,572 (27.4%) 1.11 432
    2021-09-01 $426,939 (14.7%) $627,148 (15.1%) 1.14 414
    2021-10-01 $449,899 (24.4%) $630,534 (20.3%) 1.20 408
    2021-11-01 $468,749 (29.5%) $636,426 (17.2%) 1.25 404
    2021-12-01 $461,725 (29.1%) $640,574 (15.8%) 1.25 358
    2022-01-01 $458,802 (25.7%) $629,230 (9.1%) 1.24 295
    2022-02-01 $459,950 (15.3%) $614,686 (-0.1%) 1.20 306
    2022-03-01 $487,032 (26.7%) $624,394 (1.0%) 1.22 318
    2022-04-01 $498,225 (20.1%) $674,260 (0.3%) 1.19 341
    2022-05-01 $498,690 (13.4%) $664,179 (-1.1%) 1.14 422
    2022-06-01 $514,549 (22.5%) $673,073 (-2.9%) 1.15 506
    2022-07-01 $501,428 (19.4%) $657,299 (-6.8%) 1.13 610
    2022-08-01 $499,450 (19.5%) $620,483 (-5.6%) 1.15 661
    2022-09-01 $493,030 (15.5%) $609,596 (-2.8%) 1.15 688
    2022-10-01 $485,000 (7.8%) $589,735 (-6.5%) 1.14 688
    2022-11-01 $476,975 (1.8%) $569,886 (-10.5%) 1.15 676
    2022-12-01 $479,780 (3.9%) $586,395 (-8.5%) 1.18 610
    2023-01-01 $480,100 (4.6%) $590,611 (-6.1%) 1.19 535
    2023-02-01 $477,450 (3.8%) $607,458 (-1.2%) 1.15 500
    2023-03-01 $473,450 (-2.8%) $610,352 (-2.3%) 1.12 501
    2023-04-01 $494,557 (-0.7%) $680,554 (0.9%) 1.15 440
    2023-05-01 $496,855 (-0.4%) $707,194 (6.5%) 1.13 442
    2023-06-01 $496,885 (-3.4%) $699,648 (4.0%) 1.12 497
    2023-07-01 $498,353 (-0.6%) $682,100 (3.8%) 1.13 501
    2023-08-01 $483,440 (-3.2%) $683,150 (10.1%) 1.11 538
    2023-09-01 $480,870 (-2.5%) $670,964 (10.1%) 1.12 530
    2023-10-01 $486,950 (0.4%) $645,889 (9.5%) 1.15 542
    2023-11-01 $486,861 (2.1%) $649,516 (14.0%) 1.16 583
    2023-12-01 $494,889 (3.2%) $665,435 (13.5%) 1.21 576
    2024-01-01 $511,495 (6.5%) $673,403 (14.0%) 1.25 528
    2024-02-01 $522,173 (9.4%) $697,027 (14.7%) 1.26 517
    2024-03-01 $539,550 (14.0%) $712,181 (16.7%) 1.27 521
    Gainesville's median listing price for 2024-03-01 was $539,550, a difference of $66,100 (14.0%) versus the prior year and $17,377 versus the prior month.

    Gainesville's median listing price comes in at 127% of the national average.

    Gainesville's average listing price for 2024-03-01 was $712,181, a difference of $101,829 (16.7%) versus the prior year and $15,154 versus the prior month.

    For the 2024-03-01 period, Gainesville had 521 MLS listings, a difference of 4 listings (1%) versus the prior month and 20 listings (4%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Gainesville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 80 days 2,575 sqft
    2018-02-01 78 days 2,623 sqft
    2018-03-01 60 days 2,642 sqft
    2018-04-01 60 days 2,662 sqft
    2018-05-01 59 days 2,675 sqft
    2018-06-01 71 days 2,765 sqft
    2018-07-01 77 days 2,729 sqft
    2018-08-01 78 days 2,782 sqft
    2018-09-01 72 days 2,780 sqft
    2018-10-01 75 days 2,674 sqft
    2018-11-01 79 days 2,665 sqft
    2018-12-01 86 days 2,637 sqft
    2019-01-01 86 days 2,665 sqft
    2019-02-01 79 days 2,675 sqft
    2019-03-01 76 days 2,723 sqft
    2019-04-01 72 days 2,722 sqft
    2019-05-01 64 days 2,718 sqft
    2019-06-01 65 days 2,660 sqft
    2019-07-01 74 days 2,681 sqft
    2019-08-01 78 days 2,681 sqft
    2019-09-01 80 days 2,656 sqft
    2019-10-01 78 days 2,619 sqft
    2019-11-01 78 days 2,600 sqft
    2019-12-01 80 days 2,600 sqft
    2020-01-01 77 days 2,570 sqft
    2020-02-01 68 days 2,575 sqft
    2020-03-01 56 days 2,667 sqft
    2020-04-01 59 days 2,670 sqft
    2020-05-01 74 days 2,675 sqft
    2020-06-01 81 days 2,752 sqft
    2020-07-01 67 days 2,714 sqft
    2020-08-01 60 days 2,747 sqft
    2020-09-01 59 days 2,766 sqft
    2020-10-01 52 days 2,711 sqft
    2020-11-01 55 days 2,651 sqft
    2020-12-01 66 days 2,673 sqft
    2021-01-01 67 days 2,692 sqft
    2021-02-01 43 days 2,728 sqft
    2021-03-01 38 days 2,566 sqft
    2021-04-01 41 days 2,846 sqft
    2021-05-01 33 days 2,830 sqft
    2021-06-01 33 days 2,622 sqft
    2021-07-01 31 days 2,640 sqft
    2021-08-01 42 days 2,604 sqft
    2021-09-01 48 days 2,618 sqft
    2021-10-01 53 days 2,679 sqft
    2021-11-01 51 days 2,691 sqft
    2021-12-01 58 days 2,550 sqft
    2022-01-01 60 days 2,500 sqft
    2022-02-01 33 days 2,447 sqft
    2022-03-01 36 days 2,527 sqft
    2022-04-01 34 days 2,620 sqft
    2022-05-01 31 days 2,534 sqft
    2022-06-01 30 days 2,659 sqft
    2022-07-01 35 days 2,574 sqft
    2022-08-01 47 days 2,535 sqft
    2022-09-01 51 days 2,507 sqft
    2022-10-01 54 days 2,500 sqft
    2022-11-01 65 days 2,505 sqft
    2022-12-01 77 days 2,528 sqft
    2023-01-01 87 days 2,566 sqft
    2023-02-01 58 days 2,482 sqft
    2023-03-01 44 days 2,453 sqft
    2023-04-01 42 days 2,506 sqft
    2023-05-01 39 days 2,562 sqft
    2023-06-01 37 days 2,538 sqft
    2023-07-01 44 days 2,548 sqft
    2023-08-01 47 days 2,523 sqft
    2023-09-01 49 days 2,470 sqft
    2023-10-01 47 days 2,503 sqft
    2023-11-01 51 days 2,498 sqft
    2023-12-01 58 days 2,470 sqft
    2024-01-01 60 days 2,556 sqft
    2024-02-01 47 days 2,567 sqft
    2024-03-01 45 days 2,622 sqft
    Gainesville's median listing age (time on market) for 2024-03-01 was 45 days. This is 2% longer than the same period one year ago.

    Gainesville's median square footage for active listings during the 2024-03-01 period was 2,622 sqft. One year prior, the average listing was 2,453 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.