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 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 6.6% for the week of 2024-07-05, compared to the national average (all VA variants) of 6.475% for the same period.

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

The average rate for the prior week (2024-06-28) was 6.9% and one month ago for the week of 2024-05-31, the average rate was 6.63%.

The average rate one year ago was 6.68%.

For refis of the same type during the week of 2024-07-05, the average rate was 6.84%.

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 $324,900 (12.2%) $387,782 (9.9%) 0.73 1,534
Jackson's median listing price for 2024-06-01 was $324,900, a difference of $35,275 (12.2%) versus the prior year and $4,162 versus the prior month.

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

Jackson's average listing price for 2024-06-01 was $387,782, a difference of $35,001 (9.9%) versus the prior year and $8,130 versus the prior month.

For the 2024-06-01 period, Jackson had 1,534 MLS listings, a difference of 59 listings (4%) versus the prior month and 372 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 2,183 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 2,114 sqft
Jackson's median listing age (time on market) for 2024-06-01 was 60 days. This is 0% longer than the same period one year ago.

Jackson's median square footage for active listings during the 2024-06-01 period was 2,114 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.