Grenada VA Loan Rates, Closing Costs & Stats

Grenada, MS

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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.

    Grenada's 7 lenders originated 14 VA loans during 2023. The total origination value was $2,910,000, with an average VA loan value of $207,857.

    Grenada VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Grenada averaged 0.11% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Grenada's average VA mortgage closing costs are $4,604.

    The average rate for the prior week (2024-11-08) was 6.31% and one month ago for the week of 2024-10-11, the average rate was 5.88%.

    The average rate one year ago was 7.47%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.2%.

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

    Grenada 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 Grenada level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 5 7.00% $3,084
    QUICKEN LOANS, LLC 2 6.31% $12,167
    Flagstar Bank, FSB 1 7.25% $12,793
    Renasant Bank 1 5.75% $5,867
    USAA Federal Savings Bank 1 7.13% $2,178
    PENNYMAC LOAN SERVICES, LLC 1 5.63% $3,056
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $8,918

    The top Grenada VA lender as defined by loan originations is Mortgage Research Center, LLC, with 5 VA loans originated. Their average total fees are $3,084, which is $9,083 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Grenada VA lenders (with over 10 loans originated) are .

    The lowest rate Grenada VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Grenada (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 $122,175 (-2.3%) $186,637 (14.3%) 0.00 70
    2018-02-01 $133,125 (5.7%) $190,730 (-1.3%) 0.00 65
    2018-03-01 $134,500 (10.9%) $188,057 (-4.5%) 0.00 65
    2018-04-01 $134,500 (23.4%) $196,755 (-1.3%) 0.00 64
    2018-05-01 $134,500 (25.1%) $200,433 (-3.9%) 0.00 70
    2018-06-01 $130,000 (-3.2%) $190,186 (-10.8%) 0.00 67
    2018-07-01 $134,975 (-10.0%) $177,354 (-17.6%) 0.00 67
    2018-08-01 $127,750 (-14.4%) $180,197 (-19.0%) 0.00 64
    2018-09-01 $128,500 (5.4%) $175,542 (-19.5%) 0.00 66
    2018-10-01 $125,375 (11.7%) $171,224 (-11.3%) 0.00 68
    2018-11-01 $137,750 (34.4%) $178,981 (0.6%) 0.00 67
    2018-12-01 $128,500 (11.3%) $187,282 (2.6%) 0.00 67
    2019-01-01 $125,250 (2.5%) $198,618 (6.4%) 0.00 62
    2019-02-01 $119,875 (-10.0%) $185,462 (-2.8%) 0.00 62
    2019-03-01 $122,986 (-8.6%) $187,109 (-0.5%) 0.00 61
    2019-04-01 $126,761 (-5.8%) $191,667 (-2.6%) 0.00 61
    2019-05-01 $137,450 (2.2%) $212,057 (5.8%) 0.00 48
    2019-06-01 $134,450 (3.4%) $205,730 (8.2%) 0.00 53
    2019-07-01 $146,500 (8.5%) $226,876 (27.9%) 0.00 51
    2019-08-01 $147,245 (15.3%) $240,014 (33.2%) 0.00 49
    2019-09-01 $143,114 (11.4%) $246,644 (40.5%) 0.00 48
    2019-10-01 $140,359 (12.0%) $253,031 (47.8%) 0.00 46
    2019-11-01 $139,450 (1.2%) $323,384 (80.7%) 0.00 46
    2019-12-01 $134,125 (4.4%) $321,064 (71.4%) 0.00 42
    2020-01-01 $134,125 (7.1%) $310,347 (56.3%) 0.00 41
    2020-02-01 $139,000 (16.0%) $348,395 (87.9%) 0.00 34
    2020-03-01 $207,750 (68.9%) $367,555 (96.4%) 0.00 30
    2020-04-01 $149,225 (17.7%) $329,952 (72.2%) 0.00 35
    2020-05-01 $169,450 (23.3%) $359,712 (69.6%) 0.00 33
    2020-06-01 $106,250 (-21.0%) $331,495 (61.1%) 0.00 31
    2020-07-01 $97,375 (-33.5%) $310,175 (36.7%) 0.00 35
    2020-08-01 $98,500 (-33.1%) $297,249 (23.9%) 0.00 35
    2020-09-01 $138,000 (-3.6%) $313,036 (26.9%) 0.00 32
    2020-10-01 $131,750 (-6.1%) $297,978 (17.8%) 0.00 36
    2020-11-01 $175,375 (25.8%) $263,770 (-18.4%) 0.00 36
    2020-12-01 $157,000 (17.1%) $213,017 (-33.7%) 0.00 38
    2021-01-01 $130,000 (-3.1%) $205,227 (-33.9%) 0.00 38
    2021-02-01 $123,250 (-11.3%) $160,872 (-53.8%) 0.00 32
    2021-03-01 $123,500 (-40.6%) $156,836 (-57.3%) 0.00 27
    2021-04-01 $154,725 (3.7%) $209,984 (-36.4%) 0.00 21
    2021-05-01 $214,000 (26.3%) $245,055 (-31.9%) 0.00 17
    2021-06-01 $229,500 (116.0%) $294,464 (-11.2%) 0.00 12
    2021-07-01 $194,500 (99.7%) $293,070 (-5.5%) 0.00 16
    2021-08-01 $174,250 (76.9%) $285,388 (-4.0%) 0.00 20
    2021-09-01 $202,500 (46.7%) $312,098 (-0.3%) 0.00 24
    2021-10-01 $229,000 (73.8%) $372,002 (24.8%) 0.00 20
    2021-11-01 $226,750 (29.3%) $368,079 (39.6%) 0.00 17
    2021-12-01 $133,975 (-14.7%) $306,178 (43.7%) 0.00 16
    2022-01-01 $149,250 (14.8%) $271,368 (32.2%) 0.00 19
    2022-02-01 $166,250 (34.9%) $272,988 (69.7%) 0.00 22
    2022-03-01 $151,250 (22.5%) $274,503 (75.0%) 0.00 21
    2022-04-01 $128,500 (-17.0%) $291,621 (38.9%) 0.00 19
    2022-05-01 $151,000 (-29.4%) $312,004 (27.3%) 0.00 25
    2022-06-01 $174,250 (-24.1%) $299,695 (1.8%) 0.00 30
    2022-07-01 $160,000 (-17.7%) $298,338 (1.8%) 0.00 29
    2022-08-01 $189,500 (8.8%) $284,757 (-0.2%) 0.00 32
    2022-09-01 $173,750 (-14.2%) $294,816 (-5.5%) 0.00 26
    2022-10-01 $178,500 (-22.1%) $244,156 (-34.4%) 0.00 34
    2022-11-01 $167,250 (-26.2%) $227,852 (-38.1%) 0.00 34
    2022-12-01 $149,000 (11.2%) $205,670 (-32.8%) 0.00 33
    2023-01-01 $149,450 (0.1%) $202,917 (-25.2%) 0.00 33
    2023-02-01 $147,625 (-11.2%) $187,614 (-31.3%) 0.00 36
    2023-03-01 $137,375 (-9.2%) $195,052 (-28.9%) 0.00 29
    2023-04-01 $149,500 (16.3%) $230,880 (-20.8%) 0.00 29
    2023-05-01 $145,750 (-3.5%) $224,996 (-27.9%) 0.00 28
    2023-06-01 $157,250 (-9.8%) $213,855 (-28.6%) 0.00 34
    2023-07-01 $139,900 (-12.6%) $229,561 (-23.1%) 0.00 38
    2023-08-01 $133,500 (-29.6%) $228,646 (-19.7%) 0.00 41
    2023-09-01 $145,500 (-16.3%) $247,535 (-16.0%) 0.00 33
    2023-10-01 $138,375 (-22.5%) $241,290 (-1.2%) 0.00 37
    2023-11-01 $135,000 (-19.3%) $247,204 (8.5%) 0.00 35
    2023-12-01 $202,000 (35.6%) $253,409 (23.2%) 0.00 40
    2024-01-01 $202,000 (35.2%) $261,081 (28.7%) 0.00 42
    2024-02-01 $181,000 (22.6%) $198,022 (5.6%) 0.00 48
    2024-03-01 $199,000 (44.9%) $243,220 (24.7%) 0.00 49
    2024-04-01 $200,500 (34.1%) $237,158 (2.7%) 0.00 54
    2024-05-01 $180,250 (23.7%) $243,713 (8.3%) 0.00 52
    2024-06-01 $173,000 (10.0%) $230,705 (7.9%) 0.00 54
    2024-07-01 $182,450 (30.4%) $230,634 (0.5%) 0.00 55
    2024-08-01 $189,900 (42.3%) $243,487 (6.5%) 0.00 55
    2024-09-01 $165,000 (13.4%) $238,707 (-3.6%) 0.00 55
    2024-10-01 $161,225 (16.5%) $252,674 (4.7%) 0.00 46
    Grenada's median listing price for 2024-10-01 was $161,225, a difference of $22,850 (16.5%) versus the prior year and $-3,775 versus the prior month.

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

    Grenada's average listing price for 2024-10-01 was $252,674, a difference of $11,384 (4.7%) versus the prior year and $13,967 versus the prior month.

    For the 2024-10-01 period, Grenada had 46 MLS listings, a difference of -9 listings (-16%) versus the prior month and 9 listings (24%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Grenada (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,608 sqft
    2018-02-01 0 days 2,667 sqft
    2018-03-01 0 days 1,982 sqft
    2018-04-01 0 days 2,357 sqft
    2018-05-01 0 days 2,199 sqft
    2018-06-01 0 days 2,108 sqft
    2018-07-01 0 days 1,926 sqft
    2018-08-01 0 days 1,759 sqft
    2018-09-01 0 days 1,748 sqft
    2018-10-01 0 days 1,926 sqft
    2018-11-01 0 days 2,064 sqft
    2018-12-01 0 days 2,073 sqft
    2019-01-01 0 days 2,096 sqft
    2019-02-01 0 days 2,094 sqft
    2019-03-01 0 days 2,041 sqft
    2019-04-01 0 days 1,989 sqft
    2019-05-01 0 days 1,957 sqft
    2019-06-01 0 days 1,913 sqft
    2019-07-01 0 days 2,214 sqft
    2019-08-01 0 days 2,275 sqft
    2019-09-01 0 days 2,235 sqft
    2019-10-01 0 days 2,208 sqft
    2019-11-01 0 days 2,200 sqft
    2019-12-01 0 days 1,934 sqft
    2020-01-01 0 days 1,889 sqft
    2020-02-01 0 days 2,092 sqft
    2020-03-01 0 days 2,305 sqft
    2020-04-01 0 days 1,992 sqft
    2020-05-01 0 days 2,040 sqft
    2020-06-01 0 days 1,788 sqft
    2020-07-01 0 days 1,773 sqft
    2020-08-01 0 days 1,500 sqft
    2020-09-01 0 days 1,789 sqft
    2020-10-01 0 days 1,874 sqft
    2020-11-01 0 days 2,033 sqft
    2020-12-01 0 days 1,965 sqft
    2021-01-01 0 days 1,874 sqft
    2021-02-01 0 days 1,856 sqft
    2021-03-01 0 days 1,850 sqft
    2021-04-01 0 days 2,007 sqft
    2021-05-01 0 days 2,294 sqft
    2021-06-01 0 days 2,112 sqft
    2021-07-01 0 days 2,140 sqft
    2021-08-01 0 days 2,041 sqft
    2021-09-01 0 days 2,106 sqft
    2021-10-01 0 days 2,213 sqft
    2021-11-01 0 days 2,101 sqft
    2021-12-01 0 days 1,697 sqft
    2022-01-01 0 days 1,761 sqft
    2022-02-01 0 days 1,743 sqft
    2022-03-01 0 days 1,659 sqft
    2022-04-01 0 days 1,546 sqft
    2022-05-01 0 days 1,751 sqft
    2022-06-01 0 days 1,672 sqft
    2022-07-01 0 days 2,154 sqft
    2022-08-01 0 days 2,099 sqft
    2022-09-01 0 days 2,025 sqft
    2022-10-01 0 days 1,950 sqft
    2022-11-01 0 days 1,974 sqft
    2022-12-01 0 days 1,936 sqft
    2023-01-01 0 days 1,945 sqft
    2023-02-01 0 days 1,865 sqft
    2023-03-01 0 days 1,880 sqft
    2023-04-01 0 days 2,000 sqft
    2023-05-01 0 days 2,033 sqft
    2023-06-01 0 days 1,928 sqft
    2023-07-01 0 days 1,950 sqft
    2023-08-01 0 days 1,699 sqft
    2023-09-01 0 days 1,796 sqft
    2023-10-01 0 days 1,673 sqft
    2023-11-01 0 days 1,866 sqft
    2023-12-01 0 days 2,272 sqft
    2024-01-01 0 days 1,976 sqft
    2024-02-01 0 days 1,936 sqft
    2024-03-01 0 days 1,920 sqft
    2024-04-01 0 days 1,954 sqft
    2024-05-01 0 days 1,970 sqft
    2024-06-01 0 days 1,915 sqft
    2024-07-01 0 days 1,826 sqft
    2024-08-01 0 days 1,883 sqft
    2024-09-01 0 days 1,846 sqft
    2024-10-01 0 days 1,940 sqft
    Grenada's median listing age (time on market) for 2024-10-01 was 0 days.

    Grenada's median square footage for active listings during the 2024-10-01 period was 1,940 sqft. One year prior, the average listing was 1,673 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.