Houma VA Loans

HOUMA-THIBODAUX, LA

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 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 57 lenders originated 366 VA loans during 2021. The total origination value was $80,930,000, with an average VA loan value of $221,120.

Houma VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Houma averaged 5.56% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.29% and one month ago for the week of 2022-04-08, the average rate was 5.01%.

The average rate one year ago was 3.13%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.17%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Houma level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
UNITED WHOLESALE MORTGAGE, LLC 42 2.67% $6,983
QUICKEN LOANS, LLC 30 2.46% $3,535
Mortgage Research Center, LLC 27 2.80% $5,011
FREEDOM MORTGAGE CORPORATION 19 2.41% $3,636
PENNYMAC LOAN SERVICES, LLC 18 2.40% $4,969
Assurance Financial Group, L.L.C. 14 2.80% $6,267
NAVY FEDERAL CREDIT UNION 10 2.55% $7,374
LOANDEPOT.COM, LLC 9 2.89% $3,773
CMG MORTGAGE, INC. 9 2.94% $6,727
Citizens Bank 8 2.45% $5,874
NEW DAY FINANCIAL, LLC 8 2.81% $5,658
DSLD MORTGAGE, LLC 8 2.64% $3,624
LAKEVIEW LOAN SERVICING, LLC 7 2.61% $1,980
First Horizon Bank 6 2.52% $3,106
VILLAGE CAPITAL & INVESTMENT LLC 6 2.21% $3,879
CLEARPATH LENDING 5 2.35% $3,320
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 2.88% $8,423
HOME POINT FINANCIAL CORPORATION 4 2.78% $7,167
CALIBER HOME LOANS, INC. 4 2.98% $3,390
Mr. Cooper ( Nationstar Mortgage ) 3 2.88% $5,966
SOUTHWEST FUNDING, LP 3 3.50% $7,727
The Federal Savings Bank 3 2.33% $6,551
First Guaranty Mortgage Corporation 3 3.08% $2,376
Commerce Home Mortgage, Inc. 3 2.63% $4,854
Flagstar Bank, FSB 3 3.11% $3,255
GMFS LLC 3 2.96% $7,235
Low VA Rates, LLC 3 2.29% $8,917
NEWREZ LLC 2 3.00% $3,819
Wells Fargo Bank 2 2.25% $3,588
ACCELERATE MORTGAGE, LLC 2 2.00% $6,517
AMERICAN FINANCIAL NETWORK, INC. 2 2.31% $5,102
Barrington Bank & Trust Company, N.A. 2 2.38% $3,641
Carrington Mortgage Services, LLC 2 3.38% $5,039
Gulf Coast Bank and Trust Company 2 2.88% $5,825
SUN WEST MORTGAGE COMPANY, INC. 1 3.25% $4,261
AMCAP MORTGAGE, LTD. 1 3.25% $3,256
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.88% $3,734
BARKSDALE 1 3.00% $7,603
BOKF 1 3.38% $9,905
CALCON MUTUAL MORTGAGE LLC 1 3.75% $11,437
CROSSCOUNTRY MORTGAGE, LLC 1 2.38% $9,266
FIDELITY BANK 1 2.25% $8,634
First Federal Bank 1 3.88% $4,453
First Home Bank 1 2.25% $2,087
Lakeview Community Capital, LLC 1 2.63% $2,564
Manufacturers and Traders Trust Company 1 2.38% $3,695
MOVEMENT MORTGAGE, LLC 1 3.25% $3,120
NATIONS DIRECT MORTGAGE, LLC 1 3.75% $6,447
Nations Lending Corporation 1 2.25% $1,708
North American Savings Bank, F.S.B. 1 3.00% $327
NP, Inc. 1 2.25% $4,615
Paramount Residential Mortgage Group, Inc. 1 3.13% $13,316
PHH Mortgage Corporation 1 2.88% $2,793
Regions Bank 1 3.13% $4,334
The Huntington National Bank 1 2.88% $4,409
UNITED SECURITY FINANCIAL CORP 1 1.75% $3,331
USAA Federal Savings Bank 1 3.00% $2,207

The top Houma VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 42 VA loans originated. Their average total fees are $6,983, which is $3,448 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Houma VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($3,535), FREEDOM MORTGAGE CORPORATION ($3,636), PENNYMAC LOAN SERVICES, LLC ($4,969), Mortgage Research Center, LLC ($5,011) and Assurance Financial Group, L.L.C. ($6,267).

The lowest rate Houma VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.40%), FREEDOM MORTGAGE CORPORATION (2.41%), QUICKEN LOANS, LLC (2.46%), NAVY FEDERAL CREDIT UNION (2.55%) and UNITED WHOLESALE MORTGAGE, LLC (2.67%).


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 $175,000 (0.0%) $233,781 (5.8%) 0.64 906
2018-02-01 $175,000 (0.0%) $237,322 (8.3%) 0.63 894
2018-03-01 $178,000 (1.7%) $240,998 (7.9%) 0.62 872
2018-04-01 $178,500 (0.0%) $246,229 (8.4%) 0.60 868
2018-05-01 $179,000 (0.7%) $246,125 (6.2%) 0.60 869
2018-06-01 $179,900 (0.0%) $250,493 (5.3%) 0.60 883
2018-07-01 $179,700 (-0.1%) $249,689 (6.2%) 0.60 915
2018-08-01 $181,500 (0.9%) $249,362 (4.8%) 0.61 939
2018-09-01 $180,000 (0.6%) $243,072 (1.7%) 0.60 947
2018-10-01 $181,000 (3.4%) $239,542 (0.1%) 0.61 926
2018-11-01 $184,450 (6.7%) $240,269 (3.5%) 0.62 906
2018-12-01 $184,900 (7.5%) $236,281 (2.0%) 0.63 894
2019-01-01 $187,100 (6.9%) $237,685 (1.7%) 0.65 857
2019-02-01 $188,000 (7.4%) $240,503 (1.3%) 0.63 862
2019-03-01 $192,143 (8.0%) $243,966 (1.2%) 0.63 852
2019-04-01 $195,450 (9.5%) $248,382 (0.9%) 0.62 849
2019-05-01 $198,900 (11.1%) $254,777 (3.5%) 0.61 845
2019-06-01 $199,000 (10.6%) $260,483 (4.0%) 0.61 854
2019-07-01 $200,000 (11.3%) $265,670 (6.4%) 0.62 854
2019-08-01 $202,999 (11.9%) $266,433 (6.9%) 0.64 845
2019-09-01 $206,513 (14.7%) $271,289 (11.6%) 0.66 826
2019-10-01 $206,513 (14.1%) $269,559 (12.5%) 0.66 796
2019-11-01 $199,000 (7.9%) $262,767 (9.4%) 0.64 784
2019-12-01 $196,900 (6.5%) $264,057 (11.8%) 0.66 757
2020-01-01 $194,000 (3.7%) $262,116 (10.3%) 0.65 724
2020-02-01 $192,000 (2.1%) $267,366 (11.2%) 0.62 719
2020-03-01 $192,000 (-0.1%) $269,943 (10.7%) 0.60 708
2020-04-01 $193,250 (-1.1%) $273,039 (9.9%) 0.60 688
2020-05-01 $199,900 (0.5%) $284,685 (11.7%) 0.61 615
2020-06-01 $200,000 (0.5%) $287,031 (10.2%) 0.58 570
2020-07-01 $199,000 (-0.5%) $281,335 (5.9%) 0.57 571
2020-08-01 $199,900 (-1.5%) $283,558 (6.4%) 0.57 538
2020-09-01 $197,500 (-4.4%) $287,167 (5.9%) 0.56 523
2020-10-01 $189,000 (-8.5%) $287,048 (6.5%) 0.54 502
2020-11-01 $197,400 (-0.8%) $295,537 (12.5%) 0.57 491
2020-12-01 $199,450 (1.3%) $306,426 (16.1%) 0.58 476
2021-01-01 $199,900 (3.0%) $305,381 (16.5%) 0.59 444
2021-02-01 $209,950 (9.4%) $304,469 (13.9%) 0.60 410
2021-03-01 $224,950 (17.2%) $307,983 (14.1%) 0.63 390
2021-04-01 $237,500 (22.9%) $321,816 (17.9%) 0.64 372
2021-05-01 $229,900 (15.0%) $328,518 (15.4%) 0.61 330
2021-06-01 $229,450 (14.7%) $335,873 (17.0%) 0.60 334
2021-07-01 $229,500 (15.3%) $339,145 (20.6%) 0.60 326
2021-08-01 $225,000 (12.6%) $337,232 (18.9%) 0.59 326
2021-09-01 $220,000 (11.4%) $342,565 (19.3%) 0.58 285
2021-10-01 $240,000 (27.0%) $377,144 (31.4%) 0.63 216
2021-11-01 $249,000 (26.1%) $379,474 (28.4%) 0.66 197
2021-12-01 $259,450 (30.1%) $401,300 (31.0%) 0.69 189
2022-01-01 $250,000 (25.1%) $401,728 (31.6%) 0.67 173
2022-02-01 $240,000 (14.3%) $377,769 (24.1%) 0.61 175
2022-03-01 $259,200 (15.2%) $379,631 (23.3%) 0.64 181
2022-04-01 $269,900 (13.6%) $385,305 (19.7%) 0.64 205
Houma's median listing price for 2022-04-01 was $269,900, a difference of $32,400 (13.6%) versus the prior year and $10,700 versus the prior month.

Houma's median listing price comes in at 64% of the national average.

Houma's average listing price for 2022-04-01 was $385,305, a difference of $63,489 (19.7%) versus the prior year and $5,674 versus the prior month.

For the 2022-04-01 period, Houma had 205 MLS listings, a difference of 24 listings (13%) versus the prior month and -167 listings (-45%) 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
2018-02-01 126 days 2,498 sqft
2018-03-01 130 days 1,949 sqft
2018-04-01 114 days 1,786 sqft
2018-05-01 102 days 1,861 sqft
2018-06-01 97 days 1,831 sqft
2018-07-01 100 days 1,835 sqft
2018-08-01 102 days 1,831 sqft
2018-09-01 101 days 1,839 sqft
2018-10-01 102 days 1,839 sqft
2018-11-01 109 days 1,835 sqft
2018-12-01 116 days 1,869 sqft
2019-01-01 128 days 1,878 sqft
2019-02-01 127 days 1,878 sqft
2019-03-01 115 days 2,075 sqft
2019-04-01 100 days 2,324 sqft
2019-05-01 100 days 2,515 sqft
2019-06-01 101 days 2,337 sqft
2019-07-01 105 days 2,337 sqft
2019-08-01 109 days 2,476 sqft
2019-09-01 105 days 2,655 sqft
2019-10-01 106 days 2,661 sqft
2019-11-01 101 days 2,642 sqft
2019-12-01 107 days 2,651 sqft
2020-01-01 120 days 2,662 sqft
2020-02-01 109 days 2,678 sqft
2020-03-01 108 days 2,655 sqft
2020-04-01 109 days 2,681 sqft
2020-05-01 112 days 2,746 sqft
2020-06-01 123 days 2,794 sqft
2020-07-01 117 days 2,731 sqft
2020-08-01 93 days 2,709 sqft
2020-09-01 93 days 2,723 sqft
2020-10-01 98 days 2,710 sqft
2020-11-01 100 days 2,757 sqft
2020-12-01 101 days 2,823 sqft
2021-01-01 108 days 2,751 sqft
2021-02-01 102 days 2,718 sqft
2021-03-01 85 days 2,752 sqft
2021-04-01 80 days 2,902 sqft
2021-05-01 85 days 2,962 sqft
2021-06-01 81 days 2,936 sqft
2021-07-01 81 days 2,970 sqft
2021-08-01 77 days 2,948 sqft
2021-09-01 87 days 2,940 sqft
2021-10-01 103 days 3,117 sqft
2021-11-01 105 days 3,146 sqft
2021-12-01 117 days 3,231 sqft
2022-01-01 99 days 3,140 sqft
2022-02-01 82 days 3,108 sqft
2022-03-01 67 days 3,085 sqft
2022-04-01 48 days 3,016 sqft
Houma's median listing age (time on market) for 2022-04-01 was 48 days. This is -40% shorter than the same period one year ago.

Houma's median square footage for active listings during the 2022-04-01 period was 3,016 sqft. One year prior, the average listing was 2,902 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.