Houma VA Loan Rates, Closing Costs & Stats

HOUMA-THIBODAUX, LA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Houma's 40 lenders originated 162 VA loans during 2022. The total origination value was $40,560,000, with an average VA loan value of $250,370.

    Houma VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Houma averaged 6.36% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Houma's average VA mortgage closing costs are $5,328.

    The average rate for the prior week (2023-05-19) was 6.19% and one month ago for the week of 2023-04-21, the average rate was 6.01%.

    The average rate one year ago was 4.88%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.6%.

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

    Houma 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 Houma level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 31 4.76% $7,039
    Mortgage Research Center, LLC 27 5.07% $5,379
    NAVY FEDERAL CREDIT UNION 14 4.35% $5,796
    QUICKEN LOANS, LLC 11 4.32% $9,527
    CMG MORTGAGE, INC. 11 4.50% $10,422
    Assurance Financial Group, L.L.C. 11 5.29% $7,762
    USAA Federal Savings Bank 5 3.75% $4,879
    DSLD MORTGAGE, LLC 3 5.67% $6,076
    PENNYMAC LOAN SERVICES, LLC 3 3.25% $5,430
    Flagstar Bank, FSB 3 4.87% $5,846
    Citizens Bank 3 3.46% $4,999
    HOME POINT FINANCIAL CORPORATION 2 5.13% $3,739
    JPMorgan Chase Bank 2 4.94% $4,617
    LOANDEPOT.COM, LLC 2 3.69% $4,931
    EUSTIS AND AMERICAN MORTGAGE COMPANY 2 6.12% $12,731
    FREEDOM MORTGAGE CORPORATION 2 5.00% $9,651
    Magnolia Bank 2 5.44% $12,435
    Mid-Continent Funding, Inc. 2 4.31% $7,446
    SOUTHWEST FUNDING, LP 2 5.25% $9,729
    VILLAGE CAPITAL MORTGAGE 1 5.25% $12,192
    AMERICAN FINANCIAL RESOURCES, INC. 1 2.75% $4,808
    Wells Fargo Bank 1 5.63% $0
    CARDINAL FINANCIAL 1 3.75% $9,032
    Carrington Mortgage Services, LLC 1 2.75% $4,363
    CONTOUR MORTGAGE CORPORATION 1 6.50% $9,204
    DHI MORTGAGE COMPANY, LTD. 1 4.75% $2,171
    FirstBank 1 3.25% $8,405
    First Horizon Bank 1 2.99% $7,631
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 4.63% $6,726
    NEW DAY FINANCIAL, LLC 1 6.99% $24,929
    NEWREZ LLC 1 4.13% $8,762
    NTFN, INC. 1 5.50% $4,585
    ON Q FINANCIAL, INC. 1 2.75% $2,269
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.25% $3,855
    SOUTHWEST STAGE FUNDING, LLC 1 4.38% $1,107
    STANDARD MORTGAGE CORPORATION 1 5.99% $4,181
    Sunflower Bank 1 6.75% $9,092
    The Federal Savings Bank 1 3.25% $8,012
    UNION HOME MORTGAGE CORP. 1 6.63% $16,906
    VAN DYK MORTGAGE CORPORATION 1 3.25% $5,086

    The top Houma VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 31 VA loans originated. Their average total fees are $7,039, which is $1,660 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Houma VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,379), NAVY FEDERAL CREDIT UNION ($5,796), UNITED WHOLESALE MORTGAGE, LLC ($7,039), Assurance Financial Group, L.L.C. ($7,762) and QUICKEN LOANS, LLC ($9,527).

    The lowest rate Houma VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.32%), NAVY FEDERAL CREDIT UNION (4.35%), CMG MORTGAGE, INC. (4.50%), UNITED WHOLESALE MORTGAGE, LLC (4.76%) and Mortgage Research Center, LLC (5.07%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Houma (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 $174,900 (-0.1%) $232,962 (4.9%) 0.65 904
    2018-02-01 $174,975 (0.0%) $236,777 (7.5%) 0.64 890
    2018-03-01 $176,000 (0.6%) $241,544 (7.7%) 0.62 864
    2018-04-01 $178,200 (1.7%) $246,481 (8.7%) 0.60 860
    2018-05-01 $179,000 (2.1%) $245,839 (6.5%) 0.60 858
    2018-06-01 $179,000 (-0.5%) $250,605 (5.7%) 0.60 869
    2018-07-01 $179,600 (0.0%) $249,840 (6.7%) 0.60 897
    2018-08-01 $180,000 (0.1%) $249,435 (5.0%) 0.60 923
    2018-09-01 $180,000 (0.6%) $243,732 (2.1%) 0.61 929
    2018-10-01 $181,875 (3.9%) $240,038 (0.5%) 0.62 911
    2018-11-01 $184,813 (7.2%) $240,795 (4.0%) 0.63 893
    2018-12-01 $185,000 (8.8%) $236,641 (2.7%) 0.64 882
    2019-01-01 $186,800 (6.8%) $238,070 (2.2%) 0.65 847
    2019-02-01 $187,475 (7.1%) $240,213 (1.5%) 0.63 850
    2019-03-01 $192,250 (9.2%) $243,031 (0.6%) 0.64 840
    2019-04-01 $194,924 (9.4%) $247,240 (0.3%) 0.62 829
    2019-05-01 $198,750 (11.0%) $254,486 (3.5%) 0.62 828
    2019-06-01 $198,750 (11.0%) $259,143 (3.4%) 0.62 834
    2019-07-01 $199,000 (10.8%) $263,075 (5.3%) 0.62 839
    2019-08-01 $200,000 (11.1%) $264,789 (6.2%) 0.63 825
    2019-09-01 $203,800 (13.2%) $268,814 (10.3%) 0.64 788
    2019-10-01 $200,000 (10.0%) $265,292 (10.5%) 0.65 778
    2019-11-01 $195,950 (6.0%) $259,321 (7.7%) 0.64 768
    2019-12-01 $193,450 (4.6%) $259,005 (9.5%) 0.65 741
    2020-01-01 $192,500 (3.1%) $257,564 (8.2%) 0.64 711
    2020-02-01 $192,000 (2.4%) $260,235 (8.3%) 0.63 708
    2020-03-01 $192,000 (-0.1%) $266,445 (9.6%) 0.60 696
    2020-04-01 $192,144 (-1.4%) $270,514 (9.4%) 0.60 676
    2020-05-01 $199,900 (0.6%) $281,929 (10.8%) 0.61 603
    2020-06-01 $199,900 (0.6%) $283,629 (9.5%) 0.59 565
    2020-07-01 $195,500 (-1.8%) $276,587 (5.1%) 0.57 562
    2020-08-01 $198,000 (-1.0%) $279,151 (5.4%) 0.57 525
    2020-09-01 $195,000 (-4.3%) $283,870 (5.6%) 0.56 511
    2020-10-01 $187,000 (-6.5%) $284,344 (7.2%) 0.54 491
    2020-11-01 $196,475 (0.3%) $294,095 (13.4%) 0.57 481
    2020-12-01 $199,325 (3.0%) $304,939 (17.7%) 0.59 467
    2021-01-01 $198,750 (3.3%) $301,858 (17.2%) 0.59 441
    2021-02-01 $204,950 (6.7%) $302,501 (16.2%) 0.60 400
    2021-03-01 $220,926 (15.1%) $303,876 (14.1%) 0.63 376
    2021-04-01 $232,500 (21.0%) $320,328 (18.4%) 0.63 360
    2021-05-01 $229,950 (15.0%) $329,153 (16.8%) 0.61 316
    2021-06-01 $226,500 (13.3%) $334,828 (18.1%) 0.60 326
    2021-07-01 $225,000 (15.1%) $333,643 (20.6%) 0.59 318
    2021-08-01 $221,850 (12.1%) $331,206 (18.7%) 0.59 323
    2021-09-01 $219,925 (12.8%) $336,723 (18.6%) 0.59 281
    2021-10-01 $238,000 (27.3%) $372,184 (30.9%) 0.63 213
    2021-11-01 $248,350 (26.4%) $381,237 (29.6%) 0.66 195
    2021-12-01 $254,750 (27.8%) $402,511 (32.0%) 0.69 187
    2022-01-01 $250,000 (25.8%) $399,406 (32.3%) 0.68 170
    2022-02-01 $239,500 (16.9%) $378,177 (25.0%) 0.62 175
    2022-03-01 $259,200 (17.3%) $382,075 (25.7%) 0.65 181
    2022-04-01 $269,900 (16.1%) $389,043 (21.5%) 0.64 202
    2022-05-01 $288,500 (25.5%) $399,829 (21.5%) 0.66 221
    2022-06-01 $280,000 (23.6%) $380,573 (13.7%) 0.62 275
    2022-07-01 $269,900 (20.0%) $358,217 (7.4%) 0.61 331
    2022-08-01 $270,950 (22.1%) $348,987 (5.4%) 0.63 350
    2022-09-01 $259,750 (18.1%) $332,132 (-1.4%) 0.61 379
    2022-10-01 $255,000 (7.1%) $327,909 (-11.9%) 0.60 406
    2022-11-01 $251,783 (1.4%) $316,847 (-16.9%) 0.60 444
    2022-12-01 $250,000 (-1.9%) $314,225 (-21.9%) 0.62 507
    2023-01-01 $246,975 (-1.2%) $316,224 (-20.8%) 0.61 447
    2023-02-01 $249,450 (4.2%) $311,984 (-17.5%) 0.60 441
    2023-03-01 $256,125 (-1.2%) $320,520 (-16.1%) 0.60 436
    2023-04-01 $255,000 (-5.5%) $322,474 (-17.1%) 0.59 441
    Houma's median listing price for 2023-04-01 was $255,000, a difference of $-14,900 (-5.5%) versus the prior year and $-1,125 versus the prior month.

    Houma's median listing price comes in at 59% of the national average.

    Houma's average listing price for 2023-04-01 was $322,474, a difference of $-66,569 (-17.1%) versus the prior year and $1,954 versus the prior month.

    For the 2023-04-01 period, Houma had 441 MLS listings, a difference of 5 listings (1%) versus the prior month and 239 listings (118%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Houma (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 122 days 2,458 sqft
    2018-02-01 124 days 2,491 sqft
    2018-03-01 131 days 1,996 sqft
    2018-04-01 115 days 1,900 sqft
    2018-05-01 102 days 1,930 sqft
    2018-06-01 99 days 1,993 sqft
    2018-07-01 101 days 2,000 sqft
    2018-08-01 103 days 2,015 sqft
    2018-09-01 102 days 2,005 sqft
    2018-10-01 103 days 2,000 sqft
    2018-11-01 109 days 1,971 sqft
    2018-12-01 117 days 1,973 sqft
    2019-01-01 128 days 1,999 sqft
    2019-02-01 128 days 2,001 sqft
    2019-03-01 116 days 2,025 sqft
    2019-04-01 104 days 2,049 sqft
    2019-05-01 102 days 2,148 sqft
    2019-06-01 103 days 2,182 sqft
    2019-07-01 107 days 2,253 sqft
    2019-08-01 112 days 2,351 sqft
    2019-09-01 111 days 2,662 sqft
    2019-10-01 107 days 2,659 sqft
    2019-11-01 106 days 2,642 sqft
    2019-12-01 112 days 2,654 sqft
    2020-01-01 120 days 2,664 sqft
    2020-02-01 110 days 2,681 sqft
    2020-03-01 108 days 2,671 sqft
    2020-04-01 114 days 2,703 sqft
    2020-05-01 115 days 2,757 sqft
    2020-06-01 126 days 2,803 sqft
    2020-07-01 121 days 2,737 sqft
    2020-08-01 96 days 2,714 sqft
    2020-09-01 96 days 2,723 sqft
    2020-10-01 101 days 2,711 sqft
    2020-11-01 101 days 2,771 sqft
    2020-12-01 100 days 2,836 sqft
    2021-01-01 106 days 2,756 sqft
    2021-02-01 104 days 2,724 sqft
    2021-03-01 85 days 2,793 sqft
    2021-04-01 81 days 2,926 sqft
    2021-05-01 83 days 3,085 sqft
    2021-06-01 82 days 2,984 sqft
    2021-07-01 80 days 3,012 sqft
    2021-08-01 77 days 2,930 sqft
    2021-09-01 88 days 2,949 sqft
    2021-10-01 100 days 3,126 sqft
    2021-11-01 101 days 3,152 sqft
    2021-12-01 114 days 3,235 sqft
    2022-01-01 99 days 3,149 sqft
    2022-02-01 77 days 3,098 sqft
    2022-03-01 63 days 3,081 sqft
    2022-04-01 51 days 3,014 sqft
    2022-05-01 59 days 3,025 sqft
    2022-06-01 44 days 2,938 sqft
    2022-07-01 46 days 2,790 sqft
    2022-08-01 63 days 2,757 sqft
    2022-09-01 73 days 2,657 sqft
    2022-10-01 74 days 2,681 sqft
    2022-11-01 76 days 2,619 sqft
    2022-12-01 72 days 2,480 sqft
    2023-01-01 33 days 1,800 sqft
    2023-02-01 56 days 1,835 sqft
    2023-03-01 84 days 1,896 sqft
    2023-04-01 92 days 1,906 sqft
    Houma's median listing age (time on market) for 2023-04-01 was 92 days. This is 80% longer than the same period one year ago.

    Houma's median square footage for active listings during the 2023-04-01 period was 1,906 sqft. One year prior, the average listing was 3,014 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.