Hammond VA Loan Rates, Closing Costs & Stats

HAMMOND, LA

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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.

    Hammond's 40 lenders originated 168 VA loans during 2023. The total origination value was $44,100,000, with an average VA loan value of $262,500.

    Hammond VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Hammond averaged 6.84% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Hammond's average VA mortgage closing costs are $5,672.

    The average rate for the prior week (2024-04-12) was 6.67% and one month ago for the week of 2024-03-15, the average rate was 6.43%.

    The average rate one year ago was 6.22%.

    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.

    Hammond 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 Hammond level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 20 6.82% $7,289
    DSLD MORTGAGE, LLC 17 6.36% $3,586
    FREEDOM MORTGAGE CORPORATION 13 6.47% $10,139
    NAVY FEDERAL CREDIT UNION 9 6.26% $6,614
    MOVEMENT MORTGAGE, LLC 8 6.52% $7,981
    GMFS LLC 8 5.59% $6,387
    QUICKEN LOANS, LLC 8 6.17% $10,741
    DHI MORTGAGE COMPANY, LTD. 7 5.39% $6,060
    UNITED WHOLESALE MORTGAGE, LLC 6 6.08% $7,480
    USAA Federal Savings Bank 6 6.38% $9,637
    PENNYMAC LOAN SERVICES, LLC 5 5.08% $6,684
    NEWREZ LLC 5 6.70% $5,434
    MID AMERICA MORTGAGE, INC. 4 6.66% $6,644
    EUSTIS AND AMERICAN MORTGAGE COMPANY 4 7.41% $8,336
    CROSSCOUNTRY MORTGAGE, LLC 3 6.38% $8,916
    Mr. Cooper ( Nationstar Mortgage ) 3 5.75% $12,923
    NEW DAY FINANCIAL, LLC 3 7.71% $11,934
    SUN WEST MORTGAGE COMPANY, INC. 2 6.56% $8,180
    Towne Bank 2 6.25% $10,008
    Gulf Coast Bank and Trust Company 2 5.81% $6,218
    SUMMIT FUNDING, INC. 2 5.75% $10,637
    Century Mortgage Company DBA Century Lending Company 2 6.56% $5,777
    CARDINAL FINANCIAL 2 5.75% $8,535
    The Federal Savings Bank 2 6.75% $12,469
    Wells Fargo Bank 1 6.13% $0
    AMERICAN FINANCIAL NETWORK, INC. 1 7.13% $4,374
    Barrington Bank & Trust Company, N.A. 1 5.63% $10,679
    Equity Prime Mortgage LLC 1 8.25% $3,156
    FirstBank 1 6.13% $18,180
    Goldwater Bank, N.A. 1 6.63% $17,773
    KEESLER 1 5.75% $7,737
    LOANDEPOT.COM, LLC 1 6.25% $26,929
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $2,677
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.75% $6,142
    PENTAGON FEDERAL CREDIT UNION 1 4.88% $6,421
    PLANET HOME LENDING, LLC 1 7.25% $11,495
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $323
    STANDARD MORTGAGE CORPORATION 1 4.88% $8,784
    VILLAGE CAPITAL MORTGAGE 1 4.75% $18,855
    AMCAP MORTGAGE, LTD. 1 6.25% $11,492

    The top Hammond VA lender as defined by loan originations is Mortgage Research Center, LLC, with 20 VA loans originated. Their average total fees are $7,289, which is $3,703 higher than the next largest lender, DSLD MORTGAGE, LLC.

    The lowest fee Hammond VA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($3,586), Mortgage Research Center, LLC ($7,289), FREEDOM MORTGAGE CORPORATION ($10,139), .

    The lowest rate Hammond VA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC (6.36%), FREEDOM MORTGAGE CORPORATION (6.47%), Mortgage Research Center, LLC (6.82%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Hammond (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 $189,900 (0.6%) $236,658 (-0.6%) 0.00 479
    2018-02-01 $189,450 (0.7%) $234,002 (-1.4%) 0.00 490
    2018-03-01 $190,048 (1.5%) $235,317 (-1.3%) 0.00 495
    2018-04-01 $190,023 (0.0%) $234,493 (-3.4%) 0.00 503
    2018-05-01 $193,725 (-2.0%) $236,457 (-0.9%) 0.00 512
    2018-06-01 $189,000 (-4.1%) $230,289 (-3.5%) 0.00 549
    2018-07-01 $189,278 (-2.1%) $230,867 (-5.6%) 0.00 540
    2018-08-01 $188,700 (-2.1%) $229,970 (-4.3%) 0.00 539
    2018-09-01 $185,000 (-2.6%) $225,706 (-5.4%) 0.00 570
    2018-10-01 $187,143 (-3.2%) $235,057 (-4.1%) 0.00 580
    2018-11-01 $188,675 (-0.7%) $236,192 (-4.0%) 0.00 604
    2018-12-01 $189,305 (-2.9%) $234,586 (-3.3%) 0.00 615
    2019-01-01 $183,445 (-3.4%) $232,927 (-1.6%) 0.00 607
    2019-02-01 $184,950 (-2.4%) $234,559 (0.2%) 0.00 605
    2019-03-01 $186,821 (-1.7%) $235,224 (0.0%) 0.00 603
    2019-04-01 $189,625 (-0.2%) $235,735 (0.5%) 0.00 594
    2019-05-01 $196,475 (1.4%) $241,105 (2.0%) 0.00 572
    2019-06-01 $199,000 (5.3%) $241,691 (5.0%) 0.00 595
    2019-07-01 $199,000 (5.1%) $239,779 (3.9%) 0.00 602
    2019-08-01 $198,123 (5.0%) $240,368 (4.5%) 0.00 597
    2019-09-01 $196,806 (6.4%) $242,064 (7.3%) 0.00 585
    2019-10-01 $197,538 (5.6%) $243,195 (3.5%) 0.00 559
    2019-11-01 $195,550 (3.6%) $244,582 (3.6%) 0.00 539
    2019-12-01 $193,925 (2.4%) $245,270 (4.6%) 0.00 518
    2020-01-01 $190,950 (4.1%) $243,140 (4.4%) 0.00 490
    2020-02-01 $190,000 (2.7%) $251,243 (7.1%) 0.00 468
    2020-03-01 $198,950 (6.5%) $257,846 (9.6%) 0.00 454
    2020-04-01 $201,900 (6.5%) $258,674 (9.7%) 0.00 450
    2020-05-01 $207,900 (5.8%) $261,567 (8.5%) 0.00 392
    2020-06-01 $223,900 (12.5%) $279,829 (15.8%) 0.00 318
    2020-07-01 $224,875 (13.0%) $278,316 (16.1%) 0.00 300
    2020-08-01 $224,950 (13.5%) $274,844 (14.3%) 0.00 285
    2020-09-01 $228,358 (16.0%) $278,599 (15.1%) 0.00 270
    2020-10-01 $220,000 (11.4%) $287,076 (18.0%) 0.00 228
    2020-11-01 $229,000 (17.1%) $296,914 (21.4%) 0.00 216
    2020-12-01 $234,475 (20.9%) $311,754 (27.1%) 0.00 204
    2021-01-01 $235,000 (23.1%) $318,152 (30.9%) 0.00 176
    2021-02-01 $234,170 (23.3%) $334,900 (33.3%) 0.00 157
    2021-03-01 $236,750 (19.0%) $335,953 (30.3%) 0.00 156
    2021-04-01 $237,250 (17.5%) $336,238 (30.0%) 0.00 153
    2021-05-01 $240,000 (15.4%) $351,978 (34.6%) 0.00 147
    2021-06-01 $265,000 (18.4%) $371,407 (32.7%) 0.00 143
    2021-07-01 $267,000 (18.7%) $357,443 (28.4%) 0.00 152
    2021-08-01 $256,950 (14.2%) $345,695 (25.8%) 0.00 164
    2021-09-01 $267,225 (17.0%) $361,991 (29.9%) 0.00 151
    2021-10-01 $264,058 (20.0%) $365,974 (27.5%) 0.00 134
    2021-11-01 $248,250 (8.4%) $350,289 (18.0%) 0.00 127
    2021-12-01 $249,250 (6.3%) $358,504 (15.0%) 0.00 121
    2022-01-01 $238,753 (1.6%) $358,986 (12.8%) 0.00 115
    2022-02-01 $253,725 (8.4%) $377,775 (12.8%) 0.00 86
    2022-03-01 $264,556 (11.7%) $365,165 (8.7%) 0.00 111
    2022-04-01 $256,225 (8.0%) $365,531 (8.7%) 0.00 142
    2022-05-01 $268,603 (11.9%) $379,250 (7.8%) 0.00 153
    2022-06-01 $257,681 (-2.8%) $361,728 (-2.6%) 0.00 182
    2022-07-01 $256,863 (-3.8%) $343,710 (-3.8%) 0.00 226
    2022-08-01 $260,975 (1.6%) $332,010 (-4.0%) 0.00 238
    2022-09-01 $259,450 (-2.9%) $328,199 (-9.3%) 0.00 259
    2022-10-01 $250,000 (-5.3%) $318,973 (-12.8%) 0.00 284
    2022-11-01 $252,450 (1.7%) $310,964 (-11.2%) 0.00 276
    2022-12-01 $259,900 (4.3%) $305,428 (-14.8%) 0.00 276
    2023-01-01 $260,290 (9.0%) $299,034 (-16.7%) 0.00 284
    2023-02-01 $259,519 (2.3%) $302,588 (-19.9%) 0.00 281
    2023-03-01 $257,129 (-2.8%) $301,535 (-17.4%) 0.00 272
    2023-04-01 $260,000 (1.5%) $310,074 (-15.2%) 0.00 263
    2023-05-01 $276,375 (2.9%) $316,693 (-16.5%) 0.00 270
    2023-06-01 $280,285 (8.8%) $334,648 (-7.5%) 0.00 274
    2023-07-01 $278,000 (8.2%) $335,565 (-2.4%) 0.00 278
    2023-08-01 $279,375 (7.1%) $341,391 (2.8%) 0.00 303
    2023-09-01 $269,900 (4.0%) $329,185 (0.3%) 0.00 325
    2023-10-01 $259,925 (4.0%) $318,092 (-0.3%) 0.00 311
    2023-11-01 $262,750 (4.1%) $316,551 (1.8%) 0.00 322
    2023-12-01 $264,950 (1.9%) $312,960 (2.5%) 0.00 319
    2024-01-01 $264,925 (1.8%) $314,070 (5.0%) 0.00 310
    2024-02-01 $262,800 (1.3%) $312,208 (3.2%) 0.00 325
    2024-03-01 $265,000 (3.1%) $323,353 (7.2%) 0.00 313
    Hammond's median listing price for 2024-03-01 was $265,000, a difference of $7,871 (3.1%) versus the prior year and $2,200 versus the prior month.

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

    Hammond's average listing price for 2024-03-01 was $323,353, a difference of $21,818 (7.2%) versus the prior year and $11,145 versus the prior month.

    For the 2024-03-01 period, Hammond had 313 MLS listings, a difference of -12 listings (-4%) versus the prior month and 41 listings (15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Hammond (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,850 sqft
    2018-02-01 0 days 1,831 sqft
    2018-03-01 0 days 1,858 sqft
    2018-04-01 0 days 1,859 sqft
    2018-05-01 0 days 1,885 sqft
    2018-06-01 0 days 1,860 sqft
    2018-07-01 0 days 1,843 sqft
    2018-08-01 0 days 1,842 sqft
    2018-09-01 0 days 1,805 sqft
    2018-10-01 0 days 1,791 sqft
    2018-11-01 0 days 1,776 sqft
    2018-12-01 0 days 1,803 sqft
    2019-01-01 0 days 1,755 sqft
    2019-02-01 0 days 1,772 sqft
    2019-03-01 0 days 1,779 sqft
    2019-04-01 0 days 1,789 sqft
    2019-05-01 0 days 1,842 sqft
    2019-06-01 0 days 1,867 sqft
    2019-07-01 0 days 1,859 sqft
    2019-08-01 0 days 1,856 sqft
    2019-09-01 0 days 1,857 sqft
    2019-10-01 0 days 1,861 sqft
    2019-11-01 0 days 1,885 sqft
    2019-12-01 0 days 1,871 sqft
    2020-01-01 0 days 1,859 sqft
    2020-02-01 0 days 1,858 sqft
    2020-03-01 0 days 1,884 sqft
    2020-04-01 0 days 1,882 sqft
    2020-05-01 0 days 1,899 sqft
    2020-06-01 0 days 1,999 sqft
    2020-07-01 0 days 2,020 sqft
    2020-08-01 0 days 1,987 sqft
    2020-09-01 0 days 2,063 sqft
    2020-10-01 0 days 1,920 sqft
    2020-11-01 0 days 1,923 sqft
    2020-12-01 0 days 1,926 sqft
    2021-01-01 0 days 1,950 sqft
    2021-02-01 0 days 1,980 sqft
    2021-03-01 0 days 1,971 sqft
    2021-04-01 0 days 1,937 sqft
    2021-05-01 0 days 1,969 sqft
    2021-06-01 0 days 2,030 sqft
    2021-07-01 0 days 2,040 sqft
    2021-08-01 0 days 2,000 sqft
    2021-09-01 0 days 2,099 sqft
    2021-10-01 0 days 2,000 sqft
    2021-11-01 0 days 1,921 sqft
    2021-12-01 0 days 1,923 sqft
    2022-01-01 0 days 1,823 sqft
    2022-02-01 0 days 1,877 sqft
    2022-03-01 0 days 1,960 sqft
    2022-04-01 0 days 1,887 sqft
    2022-05-01 0 days 2,015 sqft
    2022-06-01 0 days 1,927 sqft
    2022-07-01 0 days 1,887 sqft
    2022-08-01 0 days 1,860 sqft
    2022-09-01 0 days 1,838 sqft
    2022-10-01 0 days 1,814 sqft
    2022-11-01 0 days 1,871 sqft
    2022-12-01 0 days 1,898 sqft
    2023-01-01 0 days 1,869 sqft
    2023-02-01 0 days 1,860 sqft
    2023-03-01 0 days 1,893 sqft
    2023-04-01 0 days 1,935 sqft
    2023-05-01 0 days 2,054 sqft
    2023-06-01 0 days 2,065 sqft
    2023-07-01 0 days 2,000 sqft
    2023-08-01 0 days 2,000 sqft
    2023-09-01 0 days 1,926 sqft
    2023-10-01 0 days 1,888 sqft
    2023-11-01 0 days 1,888 sqft
    2023-12-01 0 days 1,860 sqft
    2024-01-01 0 days 1,862 sqft
    2024-02-01 0 days 1,821 sqft
    2024-03-01 0 days 1,819 sqft
    Hammond's median listing age (time on market) for 2024-03-01 was 0 days.

    Hammond's median square footage for active listings during the 2024-03-01 period was 1,819 sqft. One year prior, the average listing was 1,893 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.