Jackson VA Loan Rates, Closing Costs & Stats

JACKSON, MS

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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.

    Jackson's 66 lenders originated 520 VA loans during 2023. The total origination value was $158,060,000, with an average VA loan value of $303,962.

    Jackson VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Jackson averaged 0.43% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Jackson's average VA mortgage closing costs are $5,664.

    The average rate for the prior week (2024-11-08) was 6.74% and one month ago for the week of 2024-10-11, the average rate was 6%.

    The average rate one year ago was 7.49%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.57%.

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

    Jackson 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 Jackson level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 124 6.78% $5,722
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 44 6.54% $6,381
    QUICKEN LOANS, LLC 40 6.28% $10,141
    Trustmark National Bank 27 6.47% $6,820
    BancorpSouth 24 6.42% $8,763
    USAA Federal Savings Bank 18 6.23% $11,223
    UNITED WHOLESALE MORTGAGE, LLC 14 6.47% $5,806
    NAVY FEDERAL CREDIT UNION 14 6.01% $6,715
    PENNYMAC LOAN SERVICES, LLC 12 5.41% $9,261
    FREEDOM MORTGAGE CORPORATION 11 6.39% $14,779
    OPEN MORTGAGE, LLC 11 6.58% $6,750
    PLANET HOME LENDING, LLC 10 6.53% $9,353
    The Federal Savings Bank 10 6.14% $15,247
    NEW DAY FINANCIAL, LLC 9 7.26% $12,776
    ACOPIA, LLC 8 7.03% $5,898
    Mr. Cooper ( Nationstar Mortgage ) 8 6.31% $12,615
    LOANDEPOT.COM, LLC 8 5.91% $15,850
    Renasant Bank 5 6.33% $6,302
    First Horizon Bank 5 6.30% $5,664
    PENTAGON FEDERAL CREDIT UNION 5 5.58% $5,428
    Community Bank of Mississippi 5 6.57% $12,133
    Equity Prime Mortgage LLC 4 7.28% $9,133
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.50% $2,903
    CORNERSTONE HOME LENDING, INC. 4 6.69% $11,593
    KEESLER 4 5.38% $11,546
    Regions Bank 3 6.25% $10,126
    Bank of England 3 6.50% $12,257
    BankPlus 3 5.92% $6,086
    Barrington Bank & Trust Company, N.A. 3 7.08% $8,501
    FIDELITY BANK 3 6.50% $5,644
    Magnolia Bank 3 6.38% $13,566
    VILLAGE CAPITAL MORTGAGE 3 6.29% $7,127
    STOCKTON MORTGAGE CORPORATION 2 7.00% $14,326
    DHI MORTGAGE COMPANY, LTD. 2 5.75% $6,531
    MORTGAGE INVESTORS GROUP, INC. 2 6.44% $8,953
    Presidential Bank, FSB 2 5.69% $15,532
    Flagstar Bank, FSB 2 7.25% $9,340
    BROKER SOLUTIONS, INC. 2 6.44% $8,598
    Towne Bank 2 6.38% $7,087
    Armed Forces Bank 2 6.06% $10,232
    Origin Bank 2 7.01% $6,765
    AMERISAVE MORTGAGE CORPORATION 2 6.81% $21,767
    AMERICAN FINANCIAL NETWORK, INC. 2 6.06% $11,721
    GUARANTEED RATE, INC. 2 5.94% $2,192
    SOUTHWEST STAGE FUNDING, LLC 2 6.38% $2,648
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $8,043
    Sunflower Bank 1 6.63% $11,284
    SUN WEST MORTGAGE COMPANY, INC. 1 7.00% $11,421
    Assurance Financial Group, L.L.C. 1 7.75% $1,274
    The Huntington National Bank 1 6.88% $5,747
    UNION HOME MORTGAGE CORP. 1 7.00% $8,287
    LIBERTY HOME MORTGAGE CORPORATION 1 7.63% $8,329
    Waterstone Mortgage Corporation 1 5.88% $10,971
    JPMorgan Chase Bank 1 6.75% $0
    MEMBER FIRST MORTGAGE, LLC 1 6.13% $3,306
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.88% $1,689
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.99% $8,209
    M&T Bank 1 5.63% $21,189
    FBC MORTGAGE, LLC 1 5.75% $4,807
    NEWREZ LLC 1 6.75% $8,097
    Evolve Bank & Trust 1 6.25% $1,945
    EVANSVILLE TEACHERS 1 7.13% $13,342
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $12,202
    Core Bank 1 6.63% $4,364
    BNC National Bank 1 5.63% $6,762
    ROYAL UNITED MORTGAGE LLC 1 6.75% $7,745

    The top Jackson VA lender as defined by loan originations is Mortgage Research Center, LLC, with 124 VA loans originated. Their average total fees are $5,722, which is $659 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Jackson VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,722), UNITED WHOLESALE MORTGAGE, LLC ($5,806), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,381), NAVY FEDERAL CREDIT UNION ($6,715) and OPEN MORTGAGE, LLC ($6,750).

    The lowest rate Jackson VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.41%), NAVY FEDERAL CREDIT UNION (6.01%), The Federal Savings Bank (6.14%), USAA Federal Savings Bank (6.23%) and QUICKEN LOANS, LLC (6.28%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Jackson (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 $230,950 (7.5%) $293,197 (2.4%) 0.86 2,456
    2018-02-01 $229,975 (4.3%) $290,380 (0.2%) 0.83 2,550
    2018-03-01 $235,000 (3.6%) $295,824 (0.7%) 0.82 2,687
    2018-04-01 $239,250 (4.5%) $301,497 (2.6%) 0.81 2,844
    2018-05-01 $252,925 (10.1%) $326,327 (11.9%) 0.84 2,312
    2018-06-01 $259,000 (12.6%) $329,107 (12.2%) 0.86 2,332
    2018-07-01 $252,500 (9.8%) $328,095 (12.0%) 0.84 2,319
    2018-08-01 $249,700 (6.6%) $321,979 (9.6%) 0.84 2,336
    2018-09-01 $244,900 (4.8%) $316,100 (6.8%) 0.82 2,336
    2018-10-01 $238,325 (2.6%) $304,020 (2.9%) 0.81 2,340
    2018-11-01 $238,063 (3.6%) $307,286 (4.8%) 0.81 2,254
    2018-12-01 $235,000 (0.3%) $306,020 (3.3%) 0.81 2,178
    2019-01-01 $234,950 (1.7%) $306,046 (4.4%) 0.81 2,031
    2019-02-01 $239,925 (4.3%) $315,425 (8.6%) 0.81 2,006
    2019-03-01 $246,407 (4.9%) $320,941 (8.5%) 0.81 2,033
    2019-04-01 $255,475 (6.8%) $325,745 (8.0%) 0.81 2,085
    2019-05-01 $256,250 (1.3%) $327,379 (0.3%) 0.80 2,103
    2019-06-01 $255,250 (-1.5%) $329,593 (0.2%) 0.80 2,111
    2019-07-01 $252,350 (-0.1%) $324,965 (-1.0%) 0.79 2,136
    2019-08-01 $251,273 (0.6%) $324,730 (0.9%) 0.80 2,100
    2019-09-01 $250,557 (2.3%) $324,344 (2.6%) 0.80 2,062
    2019-10-01 $249,750 (4.8%) $322,970 (6.2%) 0.81 2,033
    2019-11-01 $248,900 (4.6%) $317,423 (3.3%) 0.82 2,030
    2019-12-01 $249,900 (6.3%) $315,581 (3.1%) 0.83 1,954
    2020-01-01 $252,500 (7.5%) $318,751 (4.2%) 0.84 1,777
    2020-02-01 $252,850 (5.4%) $314,422 (-0.3%) 0.83 1,760
    2020-03-01 $259,950 (5.5%) $321,087 (0.1%) 0.81 1,767
    2020-04-01 $263,700 (3.2%) $318,347 (-2.3%) 0.83 1,715
    2020-05-01 $269,900 (5.3%) $332,012 (1.4%) 0.82 1,605
    2020-06-01 $283,500 (11.1%) $346,806 (5.2%) 0.84 1,483
    2020-07-01 $298,300 (18.2%) $354,131 (9.0%) 0.86 1,357
    2020-08-01 $301,900 (20.2%) $362,077 (11.5%) 0.87 1,268
    2020-09-01 $303,500 (21.1%) $381,771 (17.7%) 0.87 1,155
    2020-10-01 $294,000 (17.7%) $378,092 (17.1%) 0.84 1,089
    2020-11-01 $285,000 (14.5%) $378,551 (19.3%) 0.83 1,028
    2020-12-01 $277,200 (10.9%) $370,118 (17.3%) 0.82 924
    2021-01-01 $275,000 (8.9%) $369,056 (15.8%) 0.82 831
    2021-02-01 $278,925 (10.3%) $369,733 (17.6%) 0.81 785
    2021-03-01 $274,825 (5.7%) $364,027 (13.4%) 0.78 709
    2021-04-01 $277,225 (5.1%) $387,251 (21.6%) 0.75 597
    2021-05-01 $279,900 (3.7%) $394,713 (18.9%) 0.74 591
    2021-06-01 $269,425 (-5.0%) $386,790 (11.5%) 0.71 640
    2021-07-01 $275,000 (-7.8%) $379,297 (7.1%) 0.73 708
    2021-08-01 $272,000 (-9.9%) $369,804 (2.1%) 0.73 755
    2021-09-01 $273,725 (-9.8%) $375,416 (-1.7%) 0.73 728
    2021-10-01 $299,000 (1.7%) $402,227 (6.4%) 0.80 712
    2021-11-01 $269,925 (-5.3%) $386,607 (2.1%) 0.72 691
    2021-12-01 $265,500 (-4.2%) $378,482 (2.3%) 0.72 639
    2022-01-01 $271,500 (-1.3%) $382,040 (3.5%) 0.73 562
    2022-02-01 $299,800 (7.5%) $385,599 (4.3%) 0.78 537
    2022-03-01 $312,450 (13.7%) $401,443 (10.3%) 0.78 587
    2022-04-01 $307,450 (10.9%) $409,000 (5.6%) 0.73 623
    2022-05-01 $284,825 (1.8%) $388,155 (-1.7%) 0.65 716
    2022-06-01 $284,875 (5.7%) $375,351 (-3.0%) 0.63 791
    2022-07-01 $310,000 (12.7%) $389,374 (2.7%) 0.70 904
    2022-08-01 $300,025 (10.3%) $379,382 (2.6%) 0.69 966
    2022-09-01 $297,875 (8.8%) $367,443 (-2.1%) 0.70 1,018
    2022-10-01 $299,000 (0.0%) $356,427 (-11.4%) 0.70 1,107
    2022-11-01 $305,957 (13.4%) $357,104 (-7.6%) 0.74 1,127
    2022-12-01 $325,000 (22.4%) $366,806 (-3.1%) 0.80 1,114
    2023-01-01 $320,000 (17.9%) $352,788 (-7.7%) 0.79 1,046
    2023-02-01 $324,850 (8.4%) $360,172 (-6.6%) 0.78 1,054
    2023-03-01 $299,450 (-4.2%) $349,331 (-13.0%) 0.71 1,141
    2023-04-01 $284,889 (-7.3%) $342,584 (-16.2%) 0.66 1,135
    2023-05-01 $289,900 (1.8%) $350,752 (-9.6%) 0.66 1,100
    2023-06-01 $289,625 (1.7%) $352,781 (-6.0%) 0.65 1,162
    2023-07-01 $284,325 (-8.3%) $338,738 (-13.0%) 0.65 1,225
    2023-08-01 $287,000 (-4.3%) $341,419 (-10.0%) 0.66 1,313
    2023-09-01 $288,500 (-3.2%) $344,536 (-6.2%) 0.67 1,380
    2023-10-01 $284,224 (-4.9%) $341,919 (-4.1%) 0.67 1,445
    2023-11-01 $284,225 (-7.1%) $345,195 (-3.3%) 0.68 1,508
    2023-12-01 $285,000 (-12.3%) $349,581 (-4.7%) 0.70 1,471
    2024-01-01 $292,425 (-8.6%) $350,291 (-0.7%) 0.71 1,361
    2024-02-01 $297,175 (-8.5%) $349,967 (-2.8%) 0.72 1,304
    2024-03-01 $299,999 (0.2%) $358,446 (2.6%) 0.71 1,365
    2024-04-01 $307,500 (7.9%) $364,734 (6.5%) 0.72 1,429
    2024-05-01 $320,738 (10.6%) $379,652 (8.2%) 0.72 1,475
    2024-06-01 $320,000 (10.5%) $381,651 (8.2%) 0.72 1,534
    2024-07-01 $319,499 (12.4%) $382,898 (13.0%) 0.73 1,600
    2024-08-01 $311,500 (8.5%) $368,765 (8.0%) 0.72 1,656
    2024-09-01 $312,500 (8.3%) $365,805 (6.2%) 0.74 1,735
    2024-10-01 $308,225 (8.4%) $361,098 (5.6%) 0.73 1,795
    Jackson's median listing price for 2024-10-01 was $308,225, a difference of $24,001 (8.4%) versus the prior year and $-4,275 versus the prior month.

    Jackson's median listing price comes in at 73% of the national average.

    Jackson's average listing price for 2024-10-01 was $361,098, a difference of $19,179 (5.6%) versus the prior year and $-4,707 versus the prior month.

    For the 2024-10-01 period, Jackson had 1,795 MLS listings, a difference of 60 listings (3%) versus the prior month and 350 listings (24%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Jackson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 93 days 2,183 sqft
    2018-02-01 91 days 2,153 sqft
    2018-03-01 74 days 2,198 sqft
    2018-04-01 64 days 2,207 sqft
    2018-05-01 65 days 2,364 sqft
    2018-06-01 67 days 2,392 sqft
    2018-07-01 70 days 2,379 sqft
    2018-08-01 72 days 2,339 sqft
    2018-09-01 77 days 2,292 sqft
    2018-10-01 82 days 2,225 sqft
    2018-11-01 90 days 2,240 sqft
    2018-12-01 95 days 2,228 sqft
    2019-01-01 102 days 2,212 sqft
    2019-02-01 100 days 2,262 sqft
    2019-03-01 82 days 2,296 sqft
    2019-04-01 64 days 2,331 sqft
    2019-05-01 63 days 2,338 sqft
    2019-06-01 71 days 2,341 sqft
    2019-07-01 74 days 2,283 sqft
    2019-08-01 79 days 2,272 sqft
    2019-09-01 79 days 2,279 sqft
    2019-10-01 81 days 2,282 sqft
    2019-11-01 83 days 2,267 sqft
    2019-12-01 90 days 2,257 sqft
    2020-01-01 97 days 2,257 sqft
    2020-02-01 94 days 2,254 sqft
    2020-03-01 72 days 2,307 sqft
    2020-04-01 74 days 2,301 sqft
    2020-05-01 78 days 2,342 sqft
    2020-06-01 75 days 2,401 sqft
    2020-07-01 65 days 2,429 sqft
    2020-08-01 64 days 2,426 sqft
    2020-09-01 63 days 2,421 sqft
    2020-10-01 61 days 2,351 sqft
    2020-11-01 61 days 2,347 sqft
    2020-12-01 71 days 2,272 sqft
    2021-01-01 82 days 2,287 sqft
    2021-02-01 70 days 2,301 sqft
    2021-03-01 58 days 2,311 sqft
    2021-04-01 52 days 2,443 sqft
    2021-05-01 37 days 2,368 sqft
    2021-06-01 37 days 2,227 sqft
    2021-07-01 43 days 2,326 sqft
    2021-08-01 41 days 2,246 sqft
    2021-09-01 47 days 2,320 sqft
    2021-10-01 52 days 2,355 sqft
    2021-11-01 22 days 2,240 sqft
    2021-12-01 50 days 2,186 sqft
    2022-01-01 57 days 2,179 sqft
    2022-02-01 44 days 2,195 sqft
    2022-03-01 32 days 2,135 sqft
    2022-04-01 35 days 2,216 sqft
    2022-05-01 37 days 2,146 sqft
    2022-06-01 40 days 2,107 sqft
    2022-07-01 43 days 2,200 sqft
    2022-08-01 50 days 2,129 sqft
    2022-09-01 56 days 2,126 sqft
    2022-10-01 56 days 2,114 sqft
    2022-11-01 60 days 2,128 sqft
    2022-12-01 71 days 2,150 sqft
    2023-01-01 78 days 2,115 sqft
    2023-02-01 74 days 2,107 sqft
    2023-03-01 54 days 2,063 sqft
    2023-04-01 53 days 2,000 sqft
    2023-05-01 59 days 2,002 sqft
    2023-06-01 60 days 1,998 sqft
    2023-07-01 57 days 1,974 sqft
    2023-08-01 56 days 2,006 sqft
    2023-09-01 54 days 2,015 sqft
    2023-10-01 58 days 1,998 sqft
    2023-11-01 65 days 2,009 sqft
    2023-12-01 70 days 2,006 sqft
    2024-01-01 78 days 2,008 sqft
    2024-02-01 77 days 2,025 sqft
    2024-03-01 56 days 2,052 sqft
    2024-04-01 52 days 2,072 sqft
    2024-05-01 52 days 2,117 sqft
    2024-06-01 60 days 2,112 sqft
    2024-07-01 65 days 2,094 sqft
    2024-08-01 65 days 2,056 sqft
    2024-09-01 66 days 2,049 sqft
    2024-10-01 68 days 2,048 sqft
    Jackson's median listing age (time on market) for 2024-10-01 was 68 days. This is 17% longer than the same period one year ago.

    Jackson's median square footage for active listings during the 2024-10-01 period was 2,048 sqft. One year prior, the average listing was 1,998 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.