Houma VA Loan Rates, Closing Costs & Stats

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 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.