Hot Springs VA Loan Rates, Closing Costs & Stats

HOT SPRINGS, AR

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.

Hot Springs's 42 lenders originated 150 VA loans during 2023. The total origination value was $40,920,000, with an average VA loan value of $272,800.

Hot Springs VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Hot Springs averaged 6.61% for the week of 2024-12-06, compared to the national average (all VA variants) of 6.143% for the same period.

Hot Springs's average VA mortgage closing costs are $4,705.

The average rate for the prior week (2024-11-29) was 6.41% and one month ago for the week of 2024-11-01, the average rate was 6.56%.

The average rate one year ago was 6.91%.

For refis of the same type during the week of 2024-12-06, the average rate was 6.57%.

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

Hot Springs 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 Hot Springs level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 28 6.94% $3,771
SWBC MORTGAGE CORPORATION 16 6.78% $3,664
QUICKEN LOANS, LLC 12 6.03% $10,092
ARK-LA-TEX FINANCIAL SERVICES, LLC. 10 7.00% $11,700
FirstTrust Home Loans, Inc. 6 6.19% $6,934
USAA Federal Savings Bank 6 6.44% $6,456
FREEDOM MORTGAGE CORPORATION 5 6.40% $16,102
NAVY FEDERAL CREDIT UNION 5 6.03% $4,992
VILLAGE CAPITAL MORTGAGE 4 5.69% $5,574
UNITED WHOLESALE MORTGAGE, LLC 4 6.16% $10,212
NEW DAY FINANCIAL, LLC 3 7.41% $14,501
The Federal Savings Bank 3 6.13% $15,803
FLAT BRANCH MORTGAGE, INC. 3 6.46% $4,752
EVERETT FINANCIAL, INC. 3 7.38% $4,894
PENNYMAC LOAN SERVICES, LLC 3 6.00% $5,506
PENTAGON FEDERAL CREDIT UNION 2 6.19% $9,578
Barrington Bank & Trust Company, N.A. 2 7.25% $4,730
CROSSCOUNTRY MORTGAGE, LLC 2 6.75% $4,932
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.19% $2,407
Eagle Bank and Trust Company 2 6.00% $6,696
Renasant Bank 1 7.50% $9,978
SUN WEST MORTGAGE COMPANY, INC. 1 5.63% $11,699
LOANDEPOT.COM, LLC 1 6.13% $3,710
AMERISAVE MORTGAGE CORPORATION 1 5.63% $11,734
Arvest Bank 1 5.50% $5,362
Bank of England 1 5.75% $6,137
BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 5.50% $6,429
BNC National Bank 1 5.63% $9,139
BROKER SOLUTIONS, INC. 1 6.75% $9,195
CMG MORTGAGE, INC. 1 5.50% $9,823
Community First National Bank 1 7.50% $2,392
CORNERSTONE HOME LENDING, INC. 1 7.25% $0
First Federal Bank 1 5.63% $1,195
First Horizon Bank 1 6.63% $1,897
AMERICAN FINANCIAL RESOURCES, INC. 1 6.63% $4,854
Mid-Continent Funding, Inc. 1 6.63% $4,186
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.25% $17,074
Mr. Cooper ( Nationstar Mortgage ) 1 5.63% $12,337
NBKC BANK 1 5.38% $742
NEWREZ LLC 1 7.25% $6,245
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $1,090
Regions Bank 1 5.75% $5,618

The top Hot Springs VA lender as defined by loan originations is Mortgage Research Center, LLC, with 28 VA loans originated. Their average total fees are $3,771, which is $107 higher than the next largest lender, SWBC MORTGAGE CORPORATION.

The lowest fee Hot Springs VA lenders (with over 10 loans originated) are SWBC MORTGAGE CORPORATION ($3,664), Mortgage Research Center, LLC ($3,771), QUICKEN LOANS, LLC ($10,092), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($11,700) and .

The lowest rate Hot Springs VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.03%), SWBC MORTGAGE CORPORATION (6.78%), Mortgage Research Center, LLC (6.94%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (7.00%) and .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Hot Springs (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 $209,125 (4.7%) $301,597 (6.5%) 0.00 904
2018-02-01 $209,600 (3.9%) $298,509 (4.5%) 0.00 926
2018-03-01 $219,900 (5.4%) $300,406 (4.5%) 0.00 961
2018-04-01 $224,900 (7.6%) $304,733 (5.3%) 0.00 1,022
2018-05-01 $224,900 (3.1%) $306,269 (4.3%) 0.00 1,064
2018-06-01 $224,900 (2.5%) $310,079 (4.5%) 0.00 1,066
2018-07-01 $219,225 (-0.4%) $297,016 (-3.6%) 0.00 1,085
2018-08-01 $213,725 (-2.4%) $291,558 (-4.2%) 0.00 1,071
2018-09-01 $215,500 (0.4%) $291,501 (-2.8%) 0.00 1,039
2018-10-01 $199,450 (-6.1%) $282,413 (-3.8%) 0.00 1,030
2018-11-01 $199,000 (-2.3%) $282,365 (-3.9%) 0.00 983
2018-12-01 $198,500 (-5.1%) $282,690 (-5.3%) 0.00 920
2019-01-01 $198,125 (-5.3%) $282,134 (-6.5%) 0.00 866
2019-02-01 $197,350 (-5.8%) $282,812 (-5.3%) 0.00 905
2019-03-01 $205,814 (-6.4%) $294,265 (-2.0%) 0.00 895
2019-04-01 $214,950 (-4.4%) $311,212 (2.1%) 0.00 876
2019-05-01 $219,450 (-2.4%) $317,600 (3.7%) 0.00 890
2019-06-01 $224,000 (-0.4%) $318,335 (2.7%) 0.00 879
2019-07-01 $224,900 (2.6%) $318,411 (7.2%) 0.00 887
2019-08-01 $222,424 (4.1%) $318,750 (9.3%) 0.00 872
2019-09-01 $224,185 (4.0%) $319,942 (9.8%) 0.00 847
2019-10-01 $225,916 (13.3%) $320,737 (13.6%) 0.00 824
2019-11-01 $238,500 (19.9%) $319,614 (13.2%) 0.00 736
2019-12-01 $239,800 (20.8%) $326,326 (15.4%) 0.00 720
2020-01-01 $239,200 (20.7%) $320,874 (13.7%) 0.00 687
2020-02-01 $237,000 (20.1%) $318,878 (12.8%) 0.00 704
2020-03-01 $239,450 (16.3%) $323,825 (10.1%) 0.00 703
2020-04-01 $239,000 (11.2%) $318,942 (2.5%) 0.00 675
2020-05-01 $239,900 (9.3%) $329,783 (3.8%) 0.00 663
2020-06-01 $244,500 (9.2%) $338,787 (6.4%) 0.00 652
2020-07-01 $250,000 (11.2%) $356,905 (12.1%) 0.00 600
2020-08-01 $250,000 (12.4%) $356,979 (12.0%) 0.00 538
2020-09-01 $256,000 (14.2%) $365,311 (14.2%) 0.00 490
2020-10-01 $265,000 (17.3%) $369,033 (15.1%) 0.00 451
2020-11-01 $269,500 (13.0%) $366,401 (14.6%) 0.00 401
2020-12-01 $259,395 (8.2%) $360,101 (10.4%) 0.00 393
2021-01-01 $260,845 (9.1%) $363,862 (13.4%) 0.00 366
2021-02-01 $263,450 (11.2%) $381,416 (19.6%) 0.00 380
2021-03-01 $271,163 (13.2%) $387,565 (19.7%) 0.00 342
2021-04-01 $285,725 (19.6%) $414,705 (30.0%) 0.00 323
2021-05-01 $299,900 (25.0%) $424,839 (28.8%) 0.00 369
2021-06-01 $317,475 (29.9%) $456,594 (34.8%) 0.00 399
2021-07-01 $319,900 (28.0%) $451,421 (26.5%) 0.00 428
2021-08-01 $349,000 (39.6%) $474,643 (33.0%) 0.00 437
2021-09-01 $349,450 (36.5%) $476,839 (30.5%) 0.00 436
2021-10-01 $319,900 (20.7%) $463,210 (25.5%) 0.00 414
2021-11-01 $324,250 (20.3%) $459,486 (25.4%) 0.00 398
2021-12-01 $331,100 (27.6%) $462,959 (28.6%) 0.00 351
2022-01-01 $325,000 (24.6%) $449,352 (23.5%) 0.00 308
2022-02-01 $319,500 (21.3%) $466,246 (22.2%) 0.00 315
2022-03-01 $322,500 (18.9%) $502,839 (29.7%) 0.00 313
2022-04-01 $325,000 (13.8%) $498,290 (20.2%) 0.00 343
2022-05-01 $326,200 (8.8%) $514,437 (21.1%) 0.00 343
2022-06-01 $336,000 (5.8%) $487,453 (6.8%) 0.00 363
2022-07-01 $349,700 (9.3%) $475,816 (5.4%) 0.00 397
2022-08-01 $344,950 (-1.2%) $491,222 (3.5%) 0.00 430
2022-09-01 $350,125 (0.2%) $499,487 (4.8%) 0.00 437
2022-10-01 $349,900 (9.4%) $492,652 (6.4%) 0.00 467
2022-11-01 $349,475 (7.8%) $466,623 (1.6%) 0.00 481
2022-12-01 $325,200 (-1.8%) $452,194 (-2.3%) 0.00 443
2023-01-01 $315,000 (-3.1%) $442,752 (-1.5%) 0.00 406
2023-02-01 $310,725 (-2.8%) $453,432 (-2.8%) 0.00 416
2023-03-01 $319,750 (-0.9%) $462,719 (-8.0%) 0.00 435
2023-04-01 $325,000 (0.0%) $460,410 (-7.6%) 0.00 462
2023-05-01 $322,500 (-1.1%) $466,928 (-9.2%) 0.00 462
2023-06-01 $334,450 (-0.5%) $490,767 (0.7%) 0.00 487
2023-07-01 $352,500 (0.8%) $526,488 (10.7%) 0.00 511
2023-08-01 $354,450 (2.8%) $525,977 (7.1%) 0.00 516
2023-09-01 $365,000 (4.3%) $515,085 (3.1%) 0.00 507
2023-10-01 $349,950 (0.0%) $495,550 (0.6%) 0.00 525
2023-11-01 $351,250 (0.5%) $501,676 (7.5%) 0.00 540
2023-12-01 $345,450 (6.2%) $492,040 (8.8%) 0.00 527
2024-01-01 $349,900 (11.1%) $484,800 (9.5%) 0.00 511
2024-02-01 $349,800 (12.6%) $471,272 (3.9%) 0.00 529
2024-03-01 $349,450 (9.3%) $468,050 (1.2%) 0.00 625
2024-04-01 $363,075 (11.7%) $490,440 (6.5%) 0.00 692
2024-05-01 $362,500 (12.4%) $508,840 (9.0%) 0.00 741
2024-06-01 $353,700 (5.8%) $500,923 (2.1%) 0.00 778
2024-07-01 $361,975 (2.7%) $521,102 (-1.0%) 0.00 785
2024-08-01 $354,000 (-0.1%) $514,649 (-2.2%) 0.00 828
2024-09-01 $349,950 (-4.1%) $509,145 (-1.2%) 0.00 822
2024-10-01 $347,425 (-0.7%) $504,714 (1.9%) 0.00 830
2024-11-01 $349,700 (-0.4%) $506,296 (0.9%) 0.00 808
Hot Springs's median listing price for 2024-11-01 was $349,700, a difference of $-1,550 (-0.4%) versus the prior year and $2,275 versus the prior month.

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

Hot Springs's average listing price for 2024-11-01 was $506,296, a difference of $4,620 (0.9%) versus the prior year and $1,582 versus the prior month.

For the 2024-11-01 period, Hot Springs had 808 MLS listings, a difference of -22 listings (-3%) versus the prior month and 268 listings (50%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Hot Springs (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,957 sqft
2018-02-01 0 days 1,950 sqft
2018-03-01 0 days 1,945 sqft
2018-04-01 0 days 1,957 sqft
2018-05-01 0 days 1,982 sqft
2018-06-01 0 days 2,016 sqft
2018-07-01 0 days 1,999 sqft
2018-08-01 0 days 2,000 sqft
2018-09-01 0 days 1,978 sqft
2018-10-01 0 days 1,915 sqft
2018-11-01 0 days 1,895 sqft
2018-12-01 0 days 1,895 sqft
2019-01-01 0 days 1,877 sqft
2019-02-01 0 days 1,881 sqft
2019-03-01 0 days 1,901 sqft
2019-04-01 0 days 1,931 sqft
2019-05-01 0 days 2,000 sqft
2019-06-01 0 days 2,010 sqft
2019-07-01 0 days 2,000 sqft
2019-08-01 0 days 2,000 sqft
2019-09-01 0 days 1,983 sqft
2019-10-01 0 days 1,973 sqft
2019-11-01 0 days 2,064 sqft
2019-12-01 0 days 2,024 sqft
2020-01-01 0 days 1,997 sqft
2020-02-01 0 days 1,968 sqft
2020-03-01 0 days 1,969 sqft
2020-04-01 0 days 1,967 sqft
2020-05-01 0 days 1,994 sqft
2020-06-01 0 days 2,079 sqft
2020-07-01 0 days 2,113 sqft
2020-08-01 0 days 2,196 sqft
2020-09-01 0 days 2,174 sqft
2020-10-01 0 days 2,160 sqft
2020-11-01 0 days 2,112 sqft
2020-12-01 0 days 2,007 sqft
2021-01-01 0 days 1,920 sqft
2021-02-01 0 days 1,922 sqft
2021-03-01 0 days 1,902 sqft
2021-04-01 0 days 1,928 sqft
2021-05-01 0 days 1,920 sqft
2021-06-01 0 days 2,100 sqft
2021-07-01 0 days 2,009 sqft
2021-08-01 0 days 2,100 sqft
2021-09-01 0 days 2,052 sqft
2021-10-01 0 days 2,141 sqft
2021-11-01 0 days 2,133 sqft
2021-12-01 0 days 2,069 sqft
2022-01-01 0 days 2,013 sqft
2022-02-01 0 days 2,016 sqft
2022-03-01 0 days 1,944 sqft
2022-04-01 0 days 1,885 sqft
2022-05-01 0 days 2,021 sqft
2022-06-01 0 days 2,126 sqft
2022-07-01 0 days 2,116 sqft
2022-08-01 0 days 2,038 sqft
2022-09-01 0 days 1,928 sqft
2022-10-01 0 days 1,920 sqft
2022-11-01 0 days 1,861 sqft
2022-12-01 0 days 1,772 sqft
2023-01-01 0 days 1,725 sqft
2023-02-01 0 days 1,717 sqft
2023-03-01 0 days 1,719 sqft
2023-04-01 0 days 1,755 sqft
2023-05-01 0 days 1,782 sqft
2023-06-01 0 days 1,859 sqft
2023-07-01 0 days 1,856 sqft
2023-08-01 0 days 1,838 sqft
2023-09-01 0 days 1,752 sqft
2023-10-01 0 days 1,771 sqft
2023-11-01 0 days 1,808 sqft
2023-12-01 0 days 1,809 sqft
2024-01-01 0 days 1,817 sqft
2024-02-01 0 days 1,800 sqft
2024-03-01 0 days 1,776 sqft
2024-04-01 0 days 1,800 sqft
2024-05-01 0 days 1,811 sqft
2024-06-01 0 days 1,796 sqft
2024-07-01 0 days 1,852 sqft
2024-08-01 0 days 1,823 sqft
2024-09-01 0 days 1,817 sqft
2024-10-01 0 days 1,823 sqft
2024-11-01 0 days 1,829 sqft
Hot Springs's median listing age (time on market) for 2024-11-01 was 0 days.

Hot Springs's median square footage for active listings during the 2024-11-01 period was 1,829 sqft. One year prior, the average listing was 1,808 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.