Jackson VA Loan Rates, Closing Costs & Stats

JACKSON, TN

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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 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 0.02% 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 $5,097.

    The average rate for the prior week (2024-11-08) was 6.53% and one month ago for the week of 2024-10-11, the average rate was 5.89%.

    The average rate one year ago was 7.28%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.12%.

    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%) $363,149 (0.4%) 0.00 449
    2024-07-01 $299,900 (0.0%) $362,759 (-0.2%) 0.00 486
    2024-08-01 $299,900 (0.3%) $363,895 (-1.7%) 0.00 511
    2024-09-01 $296,225 (-0.9%) $352,828 (-7.8%) 0.00 582
    2024-10-01 $289,900 (-1.5%) $355,120 (-3.4%) 0.00 574
    Jackson's median listing price for 2024-10-01 was $289,900, a difference of $-4,450 (-1.5%) versus the prior year and $-6,325 versus the prior month.

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

    Jackson's average listing price for 2024-10-01 was $355,120, a difference of $-12,355 (-3.4%) versus the prior year and $2,292 versus the prior month.

    For the 2024-10-01 period, Jackson had 574 MLS listings, a difference of -8 listings (-1%) versus the prior month and 198 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
    2024-07-01 0 days 2,031 sqft
    2024-08-01 0 days 2,055 sqft
    2024-09-01 0 days 1,979 sqft
    2024-10-01 0 days 1,926 sqft
    Jackson's median listing age (time on market) for 2024-10-01 was 0 days.

    Jackson's median square footage for active listings during the 2024-10-01 period was 1,926 sqft. One year prior, the average listing was 1,969 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.