Jackson VA Loan Rates, Closing Costs & Stats

JACKSON, TN

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 61 lenders originated 264 VA loans during 2023. The total origination value was $71,360,000, with an average VA loan value of $270,303.

Jackson VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Jackson averaged 6.68% for the week of 2024-07-12, compared to the national average (all VA variants) of 6.364% for the same period.

Jackson's average VA mortgage closing costs are $5,097.

The average rate for the prior week (2024-07-05) was 6.79% and one month ago for the week of 2024-06-07, the average rate was 6.31%.

The average rate one year ago was 6.78%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.68%.

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 59 6.79% $4,755
QUICKEN LOANS, LLC 20 6.11% $12,647
MORTGAGE INVESTORS GROUP, INC. 14 6.41% $4,642
Leaders Credit Union 12 6.79% $6,184
FREEDOM MORTGAGE CORPORATION 11 6.45% $9,335
NAVY FEDERAL CREDIT UNION 10 5.80% $3,711
PENNYMAC LOAN SERVICES, LLC 10 5.23% $4,978
UNITED WHOLESALE MORTGAGE, LLC 9 6.33% $6,771
FIRST COMMUNITY MORTGAGE, INC. 9 6.10% $6,150
NEW DAY FINANCIAL, LLC 8 7.54% $8,752
The Federal Savings Bank 7 6.27% $10,975
Regions Bank 6 6.08% $7,586
VILLAGE CAPITAL MORTGAGE 5 5.93% $7,745
USAA Federal Savings Bank 4 5.91% $8,318
BROKER SOLUTIONS, INC. 4 6.78% $6,459
CROSSCOUNTRY MORTGAGE, LLC 3 6.92% $2,011
NEWREZ LLC 3 6.42% $8,742
First Horizon Bank 3 6.75% $4,016
Mid-Continent Funding, Inc. 2 5.69% $7,143
GUARANTEED RATE, INC. 2 6.00% $4,850
Barrington Bank & Trust Company, N.A. 2 6.13% $7,516
Bank of England 2 6.44% $7,715
HomePromise Corporation 2 7.00% $8,750
LOANDEPOT.COM, LLC 2 5.99% $8,359
Equity Prime Mortgage LLC 2 7.00% $2,343
Paramount Residential Mortgage Group, Inc. 2 6.44% $6,883
POLARIS HOME FUNDING CORP. 1 7.25% $22,439
RELIANCE FIRST CAPITAL, LLC 1 7.25% $5,971
Simmons Bank 1 5.63% $4,257
SOVEREIGN LENDING GROUP INCORPORATED 1 4.50% $16,069
STOCKTON MORTGAGE CORPORATION 1 6.75% $10,814
SUMMIT FUNDING, INC. 1 6.50% $9,536
THE MORTGAGE FIRM, INC. 1 5.25% $2,659
V.I.P. MORTGAGE, INC. 1 6.75% $1,424
ACOPIA, LLC 1 6.88% $1,624
ZILLOW HOME LOANS, LLC 1 6.75% $3,285
CANOPY MORTGAGE, LLC 1 5.75% $19,872
CHURCHILL MORTGAGE CORPORATION 1 7.63% $13,365
Citizens Bank 1 6.88% $4,353
CMG MORTGAGE, INC. 1 6.75% $8,458
Cornerstone First Mortgage, Inc 1 5.75% $5,799
DRAPER AND KRAMER MORTGAGE CORP. 1 7.13% $5,817
EVERETT FINANCIAL, INC. 1 6.25% $3,957
Evolve Bank & Trust 1 5.75% $11,061
FBC MORTGAGE, LLC 1 7.25% $8,917
FirstBank 1 7.13% $1,623
Flagstar Bank, FSB 1 7.25% $22,439
GENEVA FINANCIAL, LLC 1 7.00% $3,373
GUARANTEED RATE AFFINITY, LLC 1 5.75% $5,876
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.25% $7,584
JPMorgan Chase Bank 1 6.49% $10,886
LEADERONE FINANCIAL CORPORATION 1 6.63% $4,712
Legends Bank 1 7.13% $3,440
LOANPAL, LLC 1 6.75% $18,558
Magnolia Bank 1 6.75% $15,624
MOVEMENT MORTGAGE, LLC 1 6.63% $6,293
Mr. Cooper ( Nationstar Mortgage ) 1 7.50% $6,436
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $10,684
Patriot Bank 1 5.75% $23,980
PENTAGON FEDERAL CREDIT UNION 1 5.13% $9,936
PLANET HOME LENDING, LLC 1 5.38% $2,169

The top Jackson VA lender as defined by loan originations is Mortgage Research Center, LLC, with 59 VA loans originated. Their average total fees are $4,755, which is $7,892 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Jackson VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($3,711), MORTGAGE INVESTORS GROUP, INC. ($4,642), Mortgage Research Center, LLC ($4,755), PENNYMAC LOAN SERVICES, LLC ($4,978) and Leaders Credit Union ($6,184).

The lowest rate Jackson VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.23%), NAVY FEDERAL CREDIT UNION (5.80%), QUICKEN LOANS, LLC (6.11%), MORTGAGE INVESTORS GROUP, INC. (6.41%) and FREEDOM MORTGAGE CORPORATION (6.45%).


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 $129,900 (11.1%) $178,863 (13.0%) 0.00 657
2018-02-01 $127,900 (9.6%) $178,849 (13.8%) 0.00 652
2018-03-01 $133,000 (13.9%) $183,765 (16.2%) 0.00 644
2018-04-01 $132,400 (14.9%) $182,614 (16.6%) 0.00 599
2018-05-01 $132,975 (10.9%) $190,763 (18.1%) 0.00 604
2018-06-01 $132,450 (6.0%) $187,285 (13.9%) 0.00 623
2018-07-01 $139,450 (8.9%) $188,503 (13.1%) 0.00 648
2018-08-01 $142,450 (12.7%) $193,408 (15.8%) 0.00 679
2018-09-01 $139,999 (8.1%) $191,191 (9.3%) 0.00 695
2018-10-01 $135,450 (5.5%) $185,089 (4.0%) 0.00 726
2018-11-01 $139,325 (8.3%) $185,963 (5.2%) 0.00 711
2018-12-01 $137,500 (5.9%) $184,855 (3.5%) 0.00 637
2019-01-01 $139,900 (7.7%) $186,838 (4.5%) 0.00 580
2019-02-01 $141,925 (11.0%) $190,278 (6.4%) 0.00 539
2019-03-01 $148,186 (11.4%) $195,823 (6.6%) 0.00 531
2019-04-01 $153,438 (15.9%) $203,194 (11.3%) 0.00 533
2019-05-01 $165,900 (24.8%) $212,939 (11.6%) 0.00 530
2019-06-01 $164,900 (24.5%) $210,393 (12.3%) 0.00 556
2019-07-01 $152,900 (9.7%) $202,878 (7.6%) 0.00 582
2019-08-01 $144,509 (1.5%) $195,760 (1.2%) 0.00 597
2019-09-01 $147,598 (5.4%) $196,475 (2.8%) 0.00 607
2019-10-01 $149,975 (10.7%) $197,458 (6.7%) 0.00 613
2019-11-01 $154,900 (11.2%) $200,066 (7.6%) 0.00 585
2019-12-01 $156,900 (14.1%) $201,438 (9.0%) 0.00 503
2020-01-01 $149,975 (7.2%) $198,804 (6.4%) 0.00 482
2020-02-01 $154,900 (9.1%) $200,752 (5.5%) 0.00 438
2020-03-01 $159,375 (7.6%) $205,129 (4.8%) 0.00 455
2020-04-01 $165,925 (8.1%) $208,242 (2.5%) 0.00 459
2020-05-01 $169,000 (1.9%) $210,491 (-1.2%) 0.00 412
2020-06-01 $174,675 (5.9%) $219,883 (4.5%) 0.00 358
2020-07-01 $177,450 (16.1%) $223,953 (10.4%) 0.00 336
2020-08-01 $179,900 (24.5%) $226,178 (15.5%) 0.00 306
2020-09-01 $179,900 (21.9%) $233,286 (18.7%) 0.00 277
2020-10-01 $175,000 (16.7%) $236,913 (20.0%) 0.00 248
2020-11-01 $169,900 (9.7%) $239,191 (19.6%) 0.00 261
2020-12-01 $184,500 (17.6%) $250,931 (24.6%) 0.00 241
2021-01-01 $182,400 (21.6%) $263,285 (32.4%) 0.00 198
2021-02-01 $179,600 (16.0%) $273,387 (36.2%) 0.00 156
2021-03-01 $169,225 (6.2%) $248,708 (21.2%) 0.00 139
2021-04-01 $173,700 (4.7%) $245,756 (18.0%) 0.00 127
2021-05-01 $169,900 (0.5%) $260,591 (23.8%) 0.00 134
2021-06-01 $180,725 (3.5%) $269,887 (22.7%) 0.00 149
2021-07-01 $195,000 (9.9%) $266,873 (19.2%) 0.00 176
2021-08-01 $202,450 (12.5%) $262,580 (16.1%) 0.00 194
2021-09-01 $194,750 (8.3%) $256,756 (10.1%) 0.00 210
2021-10-01 $197,450 (12.8%) $258,848 (9.3%) 0.00 210
2021-11-01 $199,450 (17.4%) $262,304 (9.7%) 0.00 208
2021-12-01 $199,900 (8.4%) $256,616 (2.3%) 0.00 211
2022-01-01 $199,000 (9.1%) $259,920 (-1.3%) 0.00 186
2022-02-01 $182,325 (1.5%) $245,486 (-10.2%) 0.00 173
2022-03-01 $184,675 (9.1%) $244,403 (-1.7%) 0.00 163
2022-04-01 $199,900 (15.1%) $253,242 (3.1%) 0.00 170
2022-05-01 $232,350 (36.8%) $281,072 (7.9%) 0.00 179
2022-06-01 $224,950 (24.5%) $289,044 (7.1%) 0.00 228
2022-07-01 $242,500 (24.4%) $296,127 (11.0%) 0.00 291
2022-08-01 $249,450 (23.2%) $303,280 (15.5%) 0.00 298
2022-09-01 $264,175 (35.7%) $310,675 (21.0%) 0.00 340
2022-10-01 $269,000 (36.2%) $316,963 (22.5%) 0.00 364
2022-11-01 $264,900 (32.8%) $313,672 (19.6%) 0.00 370
2022-12-01 $264,900 (32.5%) $319,994 (24.7%) 0.00 350
2023-01-01 $269,450 (35.4%) $328,924 (26.6%) 0.00 336
2023-02-01 $274,900 (50.8%) $333,327 (35.8%) 0.00 307
2023-03-01 $293,225 (58.8%) $334,448 (36.8%) 0.00 302
2023-04-01 $295,000 (47.6%) $340,243 (34.4%) 0.00 290
2023-05-01 $300,450 (29.3%) $351,314 (25.0%) 0.00 280
2023-06-01 $309,675 (37.7%) $361,631 (25.1%) 0.00 294
2023-07-01 $299,950 (23.7%) $363,434 (22.7%) 0.00 319
2023-08-01 $298,950 (19.8%) $370,055 (22.0%) 0.00 311
2023-09-01 $299,000 (13.2%) $382,510 (23.1%) 0.00 314
2023-10-01 $294,350 (9.4%) $367,475 (15.9%) 0.00 376
2023-11-01 $289,900 (9.4%) $361,853 (15.4%) 0.00 386
2023-12-01 $289,900 (9.4%) $338,844 (5.9%) 0.00 397
2024-01-01 $285,150 (5.8%) $332,953 (1.2%) 0.00 384
2024-02-01 $287,400 (4.6%) $337,634 (1.3%) 0.00 369
2024-03-01 $297,900 (1.6%) $348,410 (4.2%) 0.00 377
2024-04-01 $299,900 (1.7%) $361,073 (6.1%) 0.00 404
2024-05-01 $304,950 (1.5%) $366,458 (4.3%) 0.00 422
2024-06-01 $300,000 (-3.1%) $362,943 (0.4%) 0.00 449
Jackson's median listing price for 2024-06-01 was $300,000, a difference of $-9,675 (-3.1%) versus the prior year and $-4,950 versus the prior month.

Jackson's median listing price comes in at 0% of the national average.

Jackson's average listing price for 2024-06-01 was $362,943, a difference of $1,312 (0.4%) versus the prior year and $-3,515 versus the prior month.

For the 2024-06-01 period, Jackson had 449 MLS listings, a difference of 27 listings (6%) versus the prior month and 155 listings (53%) 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 0 days 1,864 sqft
2018-02-01 0 days 1,840 sqft
2018-03-01 0 days 1,883 sqft
2018-04-01 0 days 1,866 sqft
2018-05-01 0 days 1,889 sqft
2018-06-01 0 days 1,850 sqft
2018-07-01 0 days 1,863 sqft
2018-08-01 0 days 1,938 sqft
2018-09-01 0 days 1,972 sqft
2018-10-01 0 days 1,883 sqft
2018-11-01 0 days 1,881 sqft
2018-12-01 0 days 1,904 sqft
2019-01-01 0 days 1,878 sqft
2019-02-01 0 days 1,881 sqft
2019-03-01 0 days 1,889 sqft
2019-04-01 0 days 1,911 sqft
2019-05-01 0 days 2,016 sqft
2019-06-01 0 days 1,964 sqft
2019-07-01 0 days 1,913 sqft
2019-08-01 0 days 1,873 sqft
2019-09-01 0 days 1,865 sqft
2019-10-01 0 days 1,859 sqft
2019-11-01 0 days 1,894 sqft
2019-12-01 0 days 1,891 sqft
2020-01-01 0 days 1,868 sqft
2020-02-01 0 days 1,926 sqft
2020-03-01 0 days 1,917 sqft
2020-04-01 0 days 1,953 sqft
2020-05-01 0 days 1,956 sqft
2020-06-01 0 days 1,981 sqft
2020-07-01 0 days 2,003 sqft
2020-08-01 0 days 1,965 sqft
2020-09-01 0 days 1,967 sqft
2020-10-01 0 days 1,938 sqft
2020-11-01 0 days 1,981 sqft
2020-12-01 0 days 1,958 sqft
2021-01-01 0 days 1,950 sqft
2021-02-01 0 days 1,940 sqft
2021-03-01 0 days 1,779 sqft
2021-04-01 0 days 1,870 sqft
2021-05-01 0 days 1,852 sqft
2021-06-01 0 days 1,746 sqft
2021-07-01 0 days 1,810 sqft
2021-08-01 0 days 1,818 sqft
2021-09-01 0 days 1,821 sqft
2021-10-01 0 days 1,800 sqft
2021-11-01 0 days 1,726 sqft
2021-12-01 0 days 1,718 sqft
2022-01-01 0 days 1,714 sqft
2022-02-01 0 days 1,665 sqft
2022-03-01 0 days 1,683 sqft
2022-04-01 0 days 1,726 sqft
2022-05-01 0 days 1,753 sqft
2022-06-01 0 days 1,808 sqft
2022-07-01 0 days 1,901 sqft
2022-08-01 0 days 1,892 sqft
2022-09-01 0 days 1,890 sqft
2022-10-01 0 days 1,919 sqft
2022-11-01 0 days 1,991 sqft
2022-12-01 0 days 1,961 sqft
2023-01-01 0 days 1,924 sqft
2023-02-01 0 days 1,917 sqft
2023-03-01 0 days 1,965 sqft
2023-04-01 0 days 1,962 sqft
2023-05-01 0 days 1,975 sqft
2023-06-01 0 days 2,063 sqft
2023-07-01 0 days 2,061 sqft
2023-08-01 0 days 2,077 sqft
2023-09-01 0 days 2,000 sqft
2023-10-01 0 days 1,969 sqft
2023-11-01 0 days 1,933 sqft
2023-12-01 0 days 1,911 sqft
2024-01-01 0 days 1,896 sqft
2024-02-01 0 days 1,897 sqft
2024-03-01 0 days 1,988 sqft
2024-04-01 0 days 2,016 sqft
2024-05-01 0 days 2,077 sqft
2024-06-01 0 days 2,061 sqft
Jackson's median listing age (time on market) for 2024-06-01 was 0 days.

Jackson's median square footage for active listings during the 2024-06-01 period was 2,061 sqft. One year prior, the average listing was 2,063 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.