Hannibal VA Loan Rates, Closing Costs & Stats

Hannibal, MO

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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.

    Hannibal's 17 lenders originated 30 VA loans during 2023. The total origination value was $5,860,000, with an average VA loan value of $195,333.

    Hannibal VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Hannibal averaged 6.98% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Hannibal's average VA mortgage closing costs are $3,804.

    The average rate for the prior week (2024-04-12) was 6.81% and one month ago for the week of 2024-03-15, the average rate was 6.88%.

    The average rate one year ago was 6.17%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Hannibal 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 Hannibal level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 11 6.62% $3,397
    THOMPSON KANE & COMPANY, LLC 3 6.08% $6,991
    CMG MORTGAGE, INC. 1 5.25% $2,355
    EMBRACE HOME LOANS, INC. 1 6.25% $4,000
    FLAT BRANCH MORTGAGE, INC. 1 7.25% $2,741
    FREEDOM MORTGAGE CORPORATION 1 6.25% $11,261
    Mid-Continent Funding, Inc. 1 6.38% $2,913
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $100
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $7,262
    NAVY FEDERAL CREDIT UNION 1 7.00% $1,235
    NEW DAY FINANCIAL, LLC 1 8.25% $6,849
    PENNYMAC LOAN SERVICES, LLC 1 5.63% $1,857
    QUICKEN LOANS, LLC 1 5.99% $7,869
    SIRVA MORTGAGE, INC. 1 5.75% $12,522
    Bell Bank 1 6.63% $1,572
    USAA Federal Savings Bank 1 6.75% $1,426
    CARDINAL FINANCIAL 1 6.63% $7,049

    The top Hannibal VA lender as defined by loan originations is Mortgage Research Center, LLC, with 11 VA loans originated. Their average total fees are $3,397, which is $3,593 lower than the next largest lender, THOMPSON KANE & COMPANY, LLC.

    The lowest fee Hannibal VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,397), .

    The lowest rate Hannibal VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.62%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Hannibal (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 $154,350 (18.7%) $206,925 (13.7%) 0.00 118
    2018-02-01 $158,675 (16.4%) $203,381 (11.3%) 0.00 102
    2018-03-01 $155,000 (11.4%) $209,946 (19.0%) 0.00 103
    2018-04-01 $149,900 (7.2%) $204,525 (15.3%) 0.00 104
    2018-05-01 $149,975 (8.2%) $202,220 (9.2%) 0.00 117
    2018-06-01 $141,700 (4.5%) $188,280 (5.1%) 0.00 117
    2018-07-01 $148,200 (9.8%) $192,198 (5.0%) 0.00 119
    2018-08-01 $147,750 (6.3%) $193,832 (1.3%) 0.00 119
    2018-09-01 $167,700 (15.7%) $215,105 (8.2%) 0.00 132
    2018-10-01 $151,000 (8.3%) $200,085 (1.3%) 0.00 128
    2018-11-01 $151,000 (9.1%) $197,672 (-3.5%) 0.00 129
    2018-12-01 $147,250 (5.2%) $194,388 (-6.7%) 0.00 125
    2019-01-01 $141,850 (-8.1%) $192,778 (-6.8%) 0.00 118
    2019-02-01 $150,000 (-5.5%) $200,982 (-1.2%) 0.00 108
    2019-03-01 $159,000 (2.6%) $199,235 (-5.1%) 0.00 104
    2019-04-01 $167,000 (11.4%) $196,642 (-3.9%) 0.00 98
    2019-05-01 $165,000 (10.0%) $188,367 (-6.9%) 0.00 108
    2019-06-01 $157,500 (11.2%) $187,439 (-0.5%) 0.00 112
    2019-07-01 $149,400 (0.8%) $183,968 (-4.3%) 0.00 124
    2019-08-01 $148,668 (0.6%) $188,149 (-2.9%) 0.00 118
    2019-09-01 $156,420 (-6.7%) $204,719 (-4.8%) 0.00 104
    2019-10-01 $159,114 (5.4%) $206,755 (3.3%) 0.00 95
    2019-11-01 $125,500 (-16.9%) $188,172 (-4.8%) 0.00 99
    2019-12-01 $126,600 (-14.0%) $184,108 (-5.3%) 0.00 92
    2020-01-01 $133,450 (-5.9%) $180,285 (-6.5%) 0.00 99
    2020-02-01 $155,000 (3.3%) $210,060 (4.5%) 0.00 77
    2020-03-01 $168,675 (6.1%) $216,985 (8.9%) 0.00 79
    2020-04-01 $148,250 (-11.2%) $210,274 (6.9%) 0.00 82
    2020-05-01 $154,450 (-6.4%) $209,789 (11.4%) 0.00 75
    2020-06-01 $157,725 (0.1%) $208,163 (11.1%) 0.00 63
    2020-07-01 $182,750 (22.3%) $227,680 (23.8%) 0.00 64
    2020-08-01 $169,900 (14.3%) $227,158 (20.7%) 0.00 64
    2020-09-01 $139,600 (-10.8%) $192,050 (-6.2%) 0.00 61
    2020-10-01 $142,500 (-10.4%) $191,753 (-7.3%) 0.00 58
    2020-11-01 $119,800 (-4.5%) $192,322 (2.2%) 0.00 50
    2020-12-01 $122,525 (-3.2%) $186,746 (1.4%) 0.00 46
    2021-01-01 $128,950 (-3.4%) $198,266 (10.0%) 0.00 41
    2021-02-01 $136,250 (-12.1%) $246,559 (17.4%) 0.00 42
    2021-03-01 $125,000 (-25.9%) $231,422 (6.7%) 0.00 37
    2021-04-01 $141,950 (-4.3%) $235,217 (11.9%) 0.00 37
    2021-05-01 $149,700 (-3.1%) $258,343 (23.1%) 0.00 37
    2021-06-01 $163,750 (3.8%) $305,147 (46.6%) 0.00 43
    2021-07-01 $162,400 (-11.1%) $286,645 (25.9%) 0.00 45
    2021-08-01 $162,850 (-4.2%) $283,209 (24.7%) 0.00 54
    2021-09-01 $178,375 (27.8%) $296,447 (54.4%) 0.00 46
    2021-10-01 $149,000 (4.6%) $309,284 (61.3%) 0.00 38
    2021-11-01 $143,125 (19.5%) $293,437 (52.6%) 0.00 46
    2021-12-01 $161,200 (31.6%) $268,608 (43.8%) 0.00 53
    2022-01-01 $170,000 (31.8%) $264,393 (33.4%) 0.00 49
    2022-02-01 $149,000 (9.4%) $228,452 (-7.3%) 0.00 47
    2022-03-01 $136,375 (9.1%) $227,086 (-1.9%) 0.00 42
    2022-04-01 $139,900 (-1.4%) $222,094 (-5.6%) 0.00 45
    2022-05-01 $163,725 (9.4%) $240,178 (-7.0%) 0.00 56
    2022-06-01 $193,675 (18.3%) $249,476 (-18.2%) 0.00 71
    2022-07-01 $232,000 (42.9%) $264,031 (-7.9%) 0.00 66
    2022-08-01 $178,750 (9.8%) $240,791 (-15.0%) 0.00 75
    2022-09-01 $177,250 (-0.6%) $230,937 (-22.1%) 0.00 72
    2022-10-01 $173,000 (16.1%) $224,090 (-27.6%) 0.00 69
    2022-11-01 $168,225 (17.5%) $217,361 (-25.9%) 0.00 68
    2022-12-01 $169,900 (5.4%) $226,675 (-15.6%) 0.00 59
    2023-01-01 $164,225 (-3.4%) $211,769 (-19.9%) 0.00 51
    2023-02-01 $182,450 (22.5%) $234,422 (2.6%) 0.00 47
    2023-03-01 $182,000 (33.5%) $259,337 (14.2%) 0.00 48
    2023-04-01 $180,000 (28.7%) $252,227 (13.6%) 0.00 40
    2023-05-01 $174,000 (6.3%) $264,917 (10.3%) 0.00 38
    2023-06-01 $197,250 (1.9%) $251,019 (0.6%) 0.00 41
    2023-07-01 $169,900 (-26.8%) $223,340 (-15.4%) 0.00 35
    2023-08-01 $220,750 (23.5%) $236,993 (-1.6%) 0.00 51
    2023-09-01 $210,000 (18.5%) $238,254 (3.2%) 0.00 52
    2023-10-01 $213,750 (23.6%) $242,765 (8.3%) 0.00 63
    2023-11-01 $225,000 (33.8%) $269,654 (24.1%) 0.00 69
    2023-12-01 $217,500 (28.0%) $263,877 (16.4%) 0.00 63
    2024-01-01 $219,750 (33.8%) $270,653 (27.8%) 0.00 47
    2024-02-01 $192,100 (5.3%) $258,902 (10.4%) 0.00 42
    2024-03-01 $184,950 (1.6%) $246,226 (-5.1%) 0.00 47
    Hannibal's median listing price for 2024-03-01 was $184,950, a difference of $2,950 (1.6%) versus the prior year and $-7,150 versus the prior month.

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

    Hannibal's average listing price for 2024-03-01 was $246,226, a difference of $-13,111 (-5.1%) versus the prior year and $-12,676 versus the prior month.

    For the 2024-03-01 period, Hannibal had 47 MLS listings, a difference of 5 listings (12%) versus the prior month and -1 listings (-2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Hannibal (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,487 sqft
    2018-02-01 0 days 1,608 sqft
    2018-03-01 0 days 1,500 sqft
    2018-04-01 0 days 1,474 sqft
    2018-05-01 0 days 1,494 sqft
    2018-06-01 0 days 1,500 sqft
    2018-07-01 0 days 1,486 sqft
    2018-08-01 0 days 1,565 sqft
    2018-09-01 0 days 1,590 sqft
    2018-10-01 0 days 1,701 sqft
    2018-11-01 0 days 1,610 sqft
    2018-12-01 0 days 1,584 sqft
    2019-01-01 0 days 1,592 sqft
    2019-02-01 0 days 1,551 sqft
    2019-03-01 0 days 1,571 sqft
    2019-04-01 0 days 1,598 sqft
    2019-05-01 0 days 1,568 sqft
    2019-06-01 0 days 1,530 sqft
    2019-07-01 0 days 1,487 sqft
    2019-08-01 0 days 1,515 sqft
    2019-09-01 0 days 1,614 sqft
    2019-10-01 0 days 1,679 sqft
    2019-11-01 0 days 1,606 sqft
    2019-12-01 0 days 1,640 sqft
    2020-01-01 0 days 1,601 sqft
    2020-02-01 0 days 1,761 sqft
    2020-03-01 0 days 1,982 sqft
    2020-04-01 0 days 1,977 sqft
    2020-05-01 0 days 1,960 sqft
    2020-06-01 0 days 1,812 sqft
    2020-07-01 0 days 1,900 sqft
    2020-08-01 0 days 1,716 sqft
    2020-09-01 0 days 1,660 sqft
    2020-10-01 0 days 1,623 sqft
    2020-11-01 0 days 1,454 sqft
    2020-12-01 0 days 1,721 sqft
    2021-01-01 0 days 1,764 sqft
    2021-02-01 0 days 1,756 sqft
    2021-03-01 0 days 1,524 sqft
    2021-04-01 0 days 1,513 sqft
    2021-05-01 0 days 1,652 sqft
    2021-06-01 0 days 1,623 sqft
    2021-07-01 0 days 1,792 sqft
    2021-08-01 0 days 1,846 sqft
    2021-09-01 0 days 1,865 sqft
    2021-10-01 0 days 1,650 sqft
    2021-11-01 0 days 1,552 sqft
    2021-12-01 0 days 1,687 sqft
    2022-01-01 0 days 1,725 sqft
    2022-02-01 0 days 1,509 sqft
    2022-03-01 0 days 1,589 sqft
    2022-04-01 0 days 1,548 sqft
    2022-05-01 0 days 1,658 sqft
    2022-06-01 0 days 1,832 sqft
    2022-07-01 0 days 1,920 sqft
    2022-08-01 0 days 1,833 sqft
    2022-09-01 0 days 1,881 sqft
    2022-10-01 0 days 1,611 sqft
    2022-11-01 0 days 1,791 sqft
    2022-12-01 0 days 1,800 sqft
    2023-01-01 0 days 1,658 sqft
    2023-02-01 0 days 1,835 sqft
    2023-03-01 0 days 1,909 sqft
    2023-04-01 0 days 1,980 sqft
    2023-05-01 0 days 1,975 sqft
    2023-06-01 0 days 1,909 sqft
    2023-07-01 0 days 1,847 sqft
    2023-08-01 0 days 1,830 sqft
    2023-09-01 0 days 1,730 sqft
    2023-10-01 0 days 1,760 sqft
    2023-11-01 0 days 1,757 sqft
    2023-12-01 0 days 1,655 sqft
    2024-01-01 0 days 1,580 sqft
    2024-02-01 0 days 1,435 sqft
    2024-03-01 0 days 1,425 sqft
    Hannibal's median listing age (time on market) for 2024-03-01 was 0 days.

    Hannibal's median square footage for active listings during the 2024-03-01 period was 1,425 sqft. One year prior, the average listing was 1,909 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.