Jackson VA Loan Rates, Closing Costs & Stats

JACKSON, MS

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 85 lenders originated 800 VA loans during 2022. The total origination value was $235,120,000, with an average VA loan value of $293,900.

Jackson VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Jackson averaged 6.48% for the week of 2024-02-16, compared to the national average (all VA variants) of 6.462% for the same period.

Jackson's average VA mortgage closing costs are $5,417.

The average rate for the prior week (2024-02-09) was 6.14% and one month ago for the week of 2024-01-12, the average rate was 5.89%.

The average rate one year ago was 5.66%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.45%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 147 5.34% $6,417
QUICKEN LOANS, LLC 62 4.37% $9,208
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 47 5.08% $8,057
Trustmark National Bank 43 4.44% $6,431
USAA Federal Savings Bank 36 4.33% $7,991
NAVY FEDERAL CREDIT UNION 28 4.07% $7,952
NEW DAY FINANCIAL, LLC 23 5.34% $8,783
PENNYMAC LOAN SERVICES, LLC 23 3.25% $6,652
UNITED WHOLESALE MORTGAGE, LLC 22 4.58% $10,947
PLANET HOME LENDING, LLC 20 4.55% $9,143
BancorpSouth 20 4.55% $7,982
LOANDEPOT.COM, LLC 18 4.82% $9,198
FREEDOM MORTGAGE CORPORATION 17 5.29% $9,758
The Federal Savings Bank 16 4.58% $17,845
OPEN MORTGAGE, LLC 16 4.95% $6,336
Barrington Bank & Trust Company, N.A. 14 4.67% $7,289
Mr. Cooper ( Nationstar Mortgage ) 13 5.18% $8,982
Community Bank of Mississippi 11 4.74% $4,512
HOME POINT FINANCIAL CORPORATION 10 3.80% $7,598
Renasant Bank 9 5.00% $8,759
AMERISAVE MORTGAGE CORPORATION 8 4.75% $8,695
KEESLER 7 4.16% $7,038
First Horizon Bank 6 4.25% $8,489
Origin Bank 6 4.60% $8,701
GUARANTY HOME MORTGAGE CORPORATION 6 4.73% $6,440
EVERETT FINANCIAL, INC. 6 4.70% $5,445
Bank of England 5 5.13% $13,465
CALIBER HOME LOANS, INC. 5 4.27% $9,940
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 3.93% $5,364
ACADEMY MORTGAGE CORPORATION 4 4.53% $7,492
ANGEL OAK HOME LOANS LLC 4 4.94% $9,028
MORTGAGE SOLUTIONS OF COLORADO, LLC 4 5.88% $11,142
Flagstar Bank, FSB 4 5.22% $13,542
PENTAGON FEDERAL CREDIT UNION 4 4.19% $4,853
Regions Bank 3 5.67% $5,911
BankPlus 3 4.67% $11,200
INTERLINC MORTGAGE SERVICES, LLC 3 5.67% $6,548
SOUTHWEST FUNDING, LP 3 6.21% $11,441
SUCCESS MORTGAGE PARTNERS, INC. 3 4.75% $8,415
VILLAGE CAPITAL MORTGAGE 3 4.58% $5,755
CORNERSTONE HOME LENDING, INC. 2 5.25% $4,771
Hometown Lenders, Inc. 2 4.50% $5,578
MORTGAGE INVESTORS GROUP, INC. 2 5.06% $6,518
NEWREZ LLC 2 5.13% $5,699
FIDELITY BANK 2 5.94% $15,283
Lakeview Community Capital, LLC 2 2.63% $2,452
Wells Fargo Bank 2 5.44% $5,950
JPMorgan Chase Bank 2 4.19% $1,378
The Central Trust Bank 2 2.87% $2,856
NBKC BANK 2 3.25% $3,803
AMERICAN PACIFIC MORTGAGE CORPORATION 2 5.81% $20,216
MOVEMENT MORTGAGE, LLC 2 5.50% $8,821
CMG MORTGAGE, INC. 2 4.00% $17,489
Ixonia Bank 2 4.69% $14,234
LAKEVIEW LOAN SERVICING, LLC 2 4.25% $8,391
North American Savings Bank, F.S.B. 2 5.38% $9,380
Equity Prime Mortgage LLC 2 6.13% $12,015
BROKER SOLUTIONS, INC. 1 3.85% $6,969
EVANSVILLE TEACHERS 1 3.75% $5,841
Gateway First Bank 1 3.13% $5,791
GMFS LLC 1 5.00% $4,102
GUARANTEED RATE AFFINITY, LLC 1 4.38% $1,154
CROSSCOUNTRY MORTGAGE, LLC 1 4.75% $12,061
GUILD MORTGAGE COMPANY 1 4.50% $4,214
Wyndham Capital Mortgage, Inc. 1 3.13% $9,916
CONTOUR MORTGAGE CORPORATION 1 5.38% $8,363
Magnolia Bank 1 4.00% $4,775
Mid-Continent Funding, Inc. 1 4.75% $17,292
MORTGAGE ACCESS CORP. 1 4.25% $17,408
CHURCHILL MORTGAGE CORPORATION 1 2.75% $5,420
CHARTER WEST BANK 1 5.13% $12,614
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.75% $14,076
First Federal Bank 1 6.49% $8,688
BNC National Bank 1 5.00% $8,086
NP, Inc. 1 2.25% $8,823
BAY EQUITY LLC 1 6.25% $24,496
Peoples Bank 1 4.63% $10,265
Bank of America 1 3.38% $3,803
PREMIA MORTGAGE, LLC 1 4.75% $5,404
Armed Forces Bank 1 4.25% $4,117
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 4.63% $12,032
SIRVA MORTGAGE, INC. 1 5.00% $4,317
AMERICAN HOME LENDING USA, LLC 1 7.13% $16,345
AMERICAN FINANCIAL RESOURCES, INC. 1 4.25% $8,156
West Town Bank & Trust 1 5.25% $14,148

The top Jackson VA lender as defined by loan originations is Mortgage Research Center, LLC, with 147 VA loans originated. Their average total fees are $6,417, which is $2,791 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Jackson VA lenders (with over 10 loans originated) are Community Bank of Mississippi ($4,512), OPEN MORTGAGE, LLC ($6,336), Mortgage Research Center, LLC ($6,417), Trustmark National Bank ($6,431) and PENNYMAC LOAN SERVICES, LLC ($6,652).

The lowest rate Jackson VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.25%), HOME POINT FINANCIAL CORPORATION (3.80%), NAVY FEDERAL CREDIT UNION (4.07%), USAA Federal Savings Bank (4.33%) and QUICKEN LOANS, LLC (4.37%).


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 $229,500 (7.1%) $292,257 (2.0%) 0.85 2,482
2018-02-01 $229,900 (4.5%) $289,342 (-0.1%) 0.83 2,576
2018-03-01 $234,900 (4.4%) $294,719 (0.6%) 0.82 2,715
2018-04-01 $238,950 (4.4%) $300,369 (2.6%) 0.81 2,873
2018-05-01 $250,000 (9.0%) $324,758 (11.8%) 0.83 2,339
2018-06-01 $258,000 (12.2%) $327,869 (12.3%) 0.86 2,353
2018-07-01 $252,400 (9.8%) $326,794 (12.1%) 0.84 2,339
2018-08-01 $249,000 (7.8%) $320,683 (9.5%) 0.83 2,357
2018-09-01 $244,500 (6.1%) $315,391 (6.9%) 0.82 2,355
2018-10-01 $237,625 (3.2%) $303,414 (3.0%) 0.80 2,357
2018-11-01 $236,825 (3.2%) $306,433 (4.9%) 0.80 2,272
2018-12-01 $235,000 (1.3%) $305,109 (3.3%) 0.81 2,199
2019-01-01 $234,925 (2.4%) $305,158 (4.4%) 0.81 2,053
2019-02-01 $239,900 (4.4%) $314,235 (8.6%) 0.81 2,026
2019-03-01 $245,571 (4.5%) $319,671 (8.5%) 0.80 2,052
2019-04-01 $254,000 (6.3%) $324,542 (8.1%) 0.81 2,103
2019-05-01 $256,000 (2.4%) $326,346 (0.5%) 0.80 2,120
2019-06-01 $254,900 (-1.2%) $328,237 (0.1%) 0.80 2,133
2019-07-01 $250,450 (-0.8%) $323,301 (-1.1%) 0.78 2,160
2019-08-01 $249,973 (0.4%) $323,069 (0.7%) 0.79 2,125
2019-09-01 $249,932 (2.2%) $322,598 (2.3%) 0.80 2,086
2019-10-01 $249,450 (5.0%) $320,938 (5.8%) 0.80 2,061
2019-11-01 $246,400 (4.0%) $315,424 (2.9%) 0.81 2,057
2019-12-01 $249,000 (6.0%) $313,456 (2.7%) 0.83 1,979
2020-01-01 $250,000 (6.4%) $316,712 (3.8%) 0.84 1,799
2020-02-01 $250,000 (4.2%) $312,232 (-0.6%) 0.82 1,784
2020-03-01 $259,900 (5.8%) $319,194 (-0.2%) 0.81 1,787
2020-04-01 $261,450 (2.9%) $316,601 (-2.5%) 0.82 1,731
2020-05-01 $269,900 (5.4%) $330,671 (1.3%) 0.82 1,616
2020-06-01 $282,261 (10.7%) $345,101 (5.1%) 0.83 1,494
2020-07-01 $294,975 (17.8%) $352,055 (8.9%) 0.86 1,369
2020-08-01 $299,999 (20.0%) $360,257 (11.5%) 0.86 1,278
2020-09-01 $302,450 (21.0%) $378,265 (17.3%) 0.87 1,171
2020-10-01 $289,450 (16.0%) $374,664 (16.7%) 0.83 1,105
2020-11-01 $284,425 (15.4%) $375,067 (18.9%) 0.83 1,044
2020-12-01 $274,500 (10.2%) $366,836 (17.0%) 0.82 937
2021-01-01 $274,500 (9.8%) $366,004 (15.6%) 0.82 842
2021-02-01 $276,950 (10.8%) $366,343 (17.3%) 0.81 796
2021-03-01 $269,900 (3.9%) $361,449 (13.2%) 0.77 719
2021-04-01 $275,815 (5.5%) $384,678 (21.5%) 0.75 604
2021-05-01 $275,700 (2.2%) $391,577 (18.4%) 0.73 600
2021-06-01 $267,950 (-5.1%) $383,879 (11.2%) 0.71 647
2021-07-01 $274,950 (-6.8%) $374,921 (6.5%) 0.73 719
2021-08-01 $269,900 (-10.0%) $366,702 (1.8%) 0.72 766
2021-09-01 $272,425 (-9.9%) $372,134 (-1.6%) 0.73 741
2021-10-01 $292,400 (1.0%) $399,001 (6.5%) 0.78 724
2021-11-01 $267,900 (-5.8%) $383,975 (2.4%) 0.72 705
2021-12-01 $264,950 (-3.5%) $376,619 (2.7%) 0.72 651
2022-01-01 $270,000 (-1.6%) $378,754 (3.5%) 0.73 574
2022-02-01 $295,175 (6.6%) $381,988 (4.3%) 0.77 549
2022-03-01 $305,000 (13.0%) $398,341 (10.2%) 0.76 597
2022-04-01 $304,999 (10.6%) $405,262 (5.4%) 0.73 632
2022-05-01 $282,000 (2.3%) $385,397 (-1.6%) 0.64 725
2022-06-01 $283,200 (5.7%) $373,593 (-2.7%) 0.63 798
2022-07-01 $306,000 (11.3%) $386,668 (3.1%) 0.69 919
2022-08-01 $299,950 (11.1%) $377,477 (2.9%) 0.69 977
2022-09-01 $296,250 (8.8%) $365,880 (-1.7%) 0.69 1,031
2022-10-01 $298,000 (1.9%) $354,465 (-11.2%) 0.70 1,119
2022-11-01 $301,488 (12.5%) $354,378 (-7.7%) 0.72 1,144
2022-12-01 $324,999 (22.7%) $365,418 (-3.0%) 0.80 1,130
2023-01-01 $317,750 (17.7%) $352,151 (-7.0%) 0.79 1,060
2023-02-01 $320,000 (8.4%) $358,289 (-6.2%) 0.77 1,072
2023-03-01 $298,250 (-2.2%) $347,489 (-12.8%) 0.70 1,159
2023-04-01 $280,000 (-8.2%) $341,340 (-15.8%) 0.65 1,153
2023-05-01 $289,150 (2.5%) $349,587 (-9.3%) 0.66 1,113
2023-06-01 $289,450 (2.2%) $352,094 (-5.8%) 0.65 1,176
2023-07-01 $280,000 (-8.5%) $338,868 (-12.4%) 0.64 1,236
2023-08-01 $286,450 (-4.5%) $341,191 (-9.6%) 0.66 1,323
2023-09-01 $286,250 (-3.4%) $343,037 (-6.2%) 0.67 1,397
2023-10-01 $283,850 (-4.8%) $340,394 (-4.0%) 0.67 1,464
2023-11-01 $284,000 (-5.8%) $344,026 (-2.9%) 0.68 1,526
2023-12-01 $285,000 (-12.3%) $347,925 (-4.8%) 0.70 1,494
Jackson's median listing price for 2023-12-01 was $285,000, a difference of $-39,999 (-12.3%) versus the prior year and $1,000 versus the prior month.

Jackson's median listing price comes in at 70% of the national average.

Jackson's average listing price for 2023-12-01 was $347,925, a difference of $-17,493 (-4.8%) versus the prior year and $3,899 versus the prior month.

For the 2023-12-01 period, Jackson had 1,494 MLS listings, a difference of -32 listings (-2%) versus the prior month and 364 listings (32%) 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 2,176 sqft
2018-02-01 91 days 2,150 sqft
2018-03-01 74 days 2,196 sqft
2018-04-01 64 days 2,205 sqft
2018-05-01 65 days 2,362 sqft
2018-06-01 68 days 2,392 sqft
2018-07-01 71 days 2,375 sqft
2018-08-01 72 days 2,336 sqft
2018-09-01 77 days 2,290 sqft
2018-10-01 82 days 2,220 sqft
2018-11-01 90 days 2,235 sqft
2018-12-01 95 days 2,216 sqft
2019-01-01 101 days 2,208 sqft
2019-02-01 99 days 2,261 sqft
2019-03-01 82 days 2,292 sqft
2019-04-01 64 days 2,325 sqft
2019-05-01 63 days 2,334 sqft
2019-06-01 71 days 2,335 sqft
2019-07-01 74 days 2,281 sqft
2019-08-01 77 days 2,270 sqft
2019-09-01 79 days 2,273 sqft
2019-10-01 82 days 2,273 sqft
2019-11-01 84 days 2,262 sqft
2019-12-01 91 days 2,254 sqft
2020-01-01 97 days 2,254 sqft
2020-02-01 94 days 2,251 sqft
2020-03-01 73 days 2,303 sqft
2020-04-01 74 days 2,295 sqft
2020-05-01 78 days 2,340 sqft
2020-06-01 76 days 2,395 sqft
2020-07-01 65 days 2,420 sqft
2020-08-01 64 days 2,422 sqft
2020-09-01 63 days 2,412 sqft
2020-10-01 61 days 2,347 sqft
2020-11-01 62 days 2,337 sqft
2020-12-01 72 days 2,268 sqft
2021-01-01 82 days 2,277 sqft
2021-02-01 70 days 2,296 sqft
2021-03-01 59 days 2,302 sqft
2021-04-01 53 days 2,439 sqft
2021-05-01 37 days 2,368 sqft
2021-06-01 37 days 2,236 sqft
2021-07-01 43 days 2,301 sqft
2021-08-01 42 days 2,236 sqft
2021-09-01 47 days 2,304 sqft
2021-10-01 52 days 2,346 sqft
2021-11-01 22 days 2,239 sqft
2021-12-01 50 days 2,172 sqft
2022-01-01 56 days 2,165 sqft
2022-02-01 44 days 2,189 sqft
2022-03-01 32 days 2,135 sqft
2022-04-01 35 days 2,206 sqft
2022-05-01 37 days 2,126 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 2,127 sqft
2022-10-01 56 days 2,114 sqft
2022-11-01 60 days 2,120 sqft
2022-12-01 71 days 2,153 sqft
2023-01-01 78 days 2,118 sqft
2023-02-01 74 days 2,112 sqft
2023-03-01 54 days 2,066 sqft
2023-04-01 54 days 2,000 sqft
2023-05-01 59 days 2,008 sqft
2023-06-01 61 days 2,007 sqft
2023-07-01 57 days 1,975 sqft
2023-08-01 56 days 2,007 sqft
2023-09-01 54 days 2,015 sqft
2023-10-01 58 days 1,999 sqft
2023-11-01 65 days 2,010 sqft
2023-12-01 70 days 2,007 sqft
Jackson's median listing age (time on market) for 2023-12-01 was 70 days. This is -1% shorter than the same period one year ago.

Jackson's median square footage for active listings during the 2023-12-01 period was 2,007 sqft. One year prior, the average listing was 2,153 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.