Jonesboro VA Loan Rates, Closing Costs & Stats

JONESBORO, AR

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.

Jonesboro's 65 lenders originated 359 VA loans during 2021. The total origination value was $78,025,000, with an average VA loan value of $217,340.

Jonesboro VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Jonesboro averaged 6.4% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

Jonesboro's average VA mortgage closing costs are $4,383.

The average rate for the prior week (2022-11-25) was 6.73% and one month ago for the week of 2022-10-28, the average rate was 6.82%.

The average rate one year ago was 3.4%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.43%.

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

Jonesboro 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 Jonesboro level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Mortgage Research Center, LLC 52 2.85% $4,485
QUICKEN LOANS, LLC 43 2.48% $3,579
FREEDOM MORTGAGE CORPORATION 24 2.52% $2,998
PENNYMAC LOAN SERVICES, LLC 15 2.52% $3,966
DAS Acquisition Company, LLC 13 3.55% $4,138
USAA Federal Savings Bank 11 2.93% $3,830
VILLAGE CAPITAL MORTGAGE 9 2.61% $2,044
First Financial Bank 8 2.75% $3,839
CALIBER HOME LOANS, INC. 8 3.03% $8,078
NAVY FEDERAL CREDIT UNION 8 2.50% $3,933
CLEARPATH LENDING 7 2.32% $4,806
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 7 3.20% $6,299
NEW DAY FINANCIAL, LLC 6 2.92% $4,626
Mr. Cooper ( Nationstar Mortgage ) 6 3.02% $4,504
LOANDEPOT.COM, LLC 5 2.87% $7,627
ENCORE BANK 5 2.25% $4,293
Simmons Bank 5 2.40% $9,747
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 3.06% $6,024
Centennial Bank 4 2.91% $5,908
Wells Fargo Bank 4 2.50% $3,783
PLANET HOME LENDING, LLC 4 2.59% $1,179
Low VA Rates, LLC 4 2.50% $2,229
Eagle Bank and Trust Company 3 2.92% $3,912
Sierra Pacific Mortgage Company, Inc. 3 3.00% $2,903
First Horizon Bank 3 2.83% $4,781
First Community Bank 3 2.29% $1,057
Arvest Bank 3 2.83% $4,116
BROKER SOLUTIONS, INC. 3 3.13% $3,123
Evolve Bank & Trust 2 2.50% $560
AMERICAN FINANCIAL NETWORK, INC. 2 2.69% $4,109
AMERISAVE MORTGAGE CORPORATION 2 3.44% $8,305
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.38% $3,214
Carrington Mortgage Services, LLC 2 3.19% $2,964
Citizens Bank 2 2.38% $7,872
GMFS LLC 2 2.75% $4,489
PENTAGON FEDERAL CREDIT UNION 2 2.25% $1,658
SOVEREIGN LENDING GROUP INCORPORATED 2 2.38% $12,981
KS StateBank 1 2.25% $53
FLAT BRANCH MORTGAGE, INC. 1 3.38% $4,000
FirstTrust Home Loans, Inc. 1 3.00% $6,187
Magnolia Bank 1 2.63% $20,815
MID AMERICA MORTGAGE, INC. 1 2.63% $1,592
Mid-Continent Funding, Inc. 1 3.00% $8,219
First Guaranty Mortgage Corporation 1 2.75% $1,132
FIRST COMMUNITY MORTGAGE, INC. 1 2.88% $0
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.25% $12,020
ACADEMY MORTGAGE CORPORATION 1 3.88% $2,189
EVERETT FINANCIAL, INC. 1 4.13% $1,623
NEWREZ LLC 1 2.99% $1,568
North American Savings Bank, F.S.B. 1 3.00% $1,073
DRAPER AND KRAMER MORTGAGE CORP. 1 2.75% $8,203
Barrington Bank & Trust Company, N.A. 1 2.50% $2,257
CROSSCOUNTRY MORTGAGE, LLC 1 2.75% $10,840
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.88% $3,217
Core Bank 1 2.25% $2,426
Regions Bank 1 3.25% $1,462
COMMUNITY MORTGAGE CORPORATION 1 2.63% $1,818
CMG MORTGAGE, INC. 1 2.88% $5,176
Bank of England 1 2.63% $3,652
SUN WEST MORTGAGE COMPANY, INC. 1 2.25% $2,980
Texana Bank 1 2.38% $6,036
UNITED WHOLESALE MORTGAGE, LLC 1 2.86% $630
Capital Bank 1 2.25% $1,558
GUILD MORTGAGE COMPANY 1 3.00% $9,510
HOME POINT FINANCIAL CORPORATION 1 2.13% $5,490

The top Jonesboro VA lender as defined by loan originations is Mortgage Research Center, LLC, with 52 VA loans originated. Their average total fees are $4,485, which is $906 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Jonesboro VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,998), QUICKEN LOANS, LLC ($3,579), USAA Federal Savings Bank ($3,830), PENNYMAC LOAN SERVICES, LLC ($3,966) and DAS Acquisition Company, LLC ($4,138).

The lowest rate Jonesboro VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.48%), FREEDOM MORTGAGE CORPORATION (2.52%), PENNYMAC LOAN SERVICES, LLC (2.52%), Mortgage Research Center, LLC (2.85%) and USAA Federal Savings Bank (2.93%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Jonesboro (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 $174,950 (11.2%) $225,139 (6.1%) 0.00 581
2018-02-01 $183,387 (10.8%) $232,855 (6.7%) 0.00 564
2018-03-01 $188,800 (11.1%) $235,627 (6.5%) 0.00 546
2018-04-01 $175,500 (-1.3%) $232,936 (1.7%) 0.00 544
2018-05-01 $176,250 (-3.4%) $232,181 (0.2%) 0.00 555
2018-06-01 $174,900 (0.0%) $233,358 (0.9%) 0.00 590
2018-07-01 $179,900 (8.4%) $236,190 (3.0%) 0.00 606
2018-08-01 $178,950 (11.9%) $235,272 (5.3%) 0.00 632
2018-09-01 $177,900 (8.8%) $234,919 (3.7%) 0.00 641
2018-10-01 $174,575 (2.8%) $237,160 (5.1%) 0.00 655
2018-11-01 $169,900 (-2.6%) $231,905 (2.0%) 0.00 679
2018-12-01 $179,700 (4.2%) $233,972 (3.2%) 0.00 655
2019-01-01 $184,000 (5.2%) $230,286 (2.3%) 0.00 644
2019-02-01 $186,425 (1.7%) $240,344 (3.2%) 0.00 630
2019-03-01 $194,200 (2.9%) $245,799 (4.3%) 0.00 609
2019-04-01 $199,900 (13.9%) $249,757 (7.2%) 0.00 577
2019-05-01 $204,075 (15.8%) $260,053 (12.0%) 0.00 584
2019-06-01 $205,000 (17.2%) $260,503 (11.6%) 0.00 601
2019-07-01 $212,425 (18.1%) $262,185 (11.0%) 0.00 578
2019-08-01 $208,282 (16.4%) $259,980 (10.5%) 0.00 560
2019-09-01 $202,780 (14.0%) $257,572 (9.6%) 0.00 561
2019-10-01 $202,211 (15.8%) $255,332 (7.7%) 0.00 561
2019-11-01 $206,200 (21.4%) $256,172 (10.5%) 0.00 527
2019-12-01 $191,225 (6.4%) $247,460 (5.8%) 0.00 537
2020-01-01 $187,225 (1.8%) $242,141 (5.2%) 0.00 513
2020-02-01 $189,900 (1.9%) $242,375 (0.8%) 0.00 524
2020-03-01 $197,400 (1.7%) $248,496 (1.1%) 0.00 510
2020-04-01 $207,450 (3.8%) $255,080 (2.1%) 0.00 468
2020-05-01 $199,900 (-2.1%) $263,534 (1.3%) 0.00 434
2020-06-01 $210,925 (2.9%) $268,436 (3.0%) 0.00 442
2020-07-01 $214,150 (0.8%) $271,910 (3.7%) 0.00 415
2020-08-01 $210,950 (1.3%) $272,005 (4.6%) 0.00 396
2020-09-01 $219,925 (8.5%) $274,876 (6.7%) 0.00 380
2020-10-01 $214,950 (6.3%) $272,457 (6.7%) 0.00 361
2020-11-01 $199,900 (-3.1%) $267,138 (4.3%) 0.00 357
2020-12-01 $201,050 (5.1%) $270,464 (9.3%) 0.00 324
2021-01-01 $199,900 (6.8%) $278,405 (15.0%) 0.00 290
2021-02-01 $212,450 (11.9%) $294,171 (21.4%) 0.00 244
2021-03-01 $221,800 (12.4%) $305,051 (22.8%) 0.00 236
2021-04-01 $208,150 (0.3%) $300,431 (17.8%) 0.00 218
2021-05-01 $199,450 (-0.2%) $302,202 (14.7%) 0.00 207
2021-06-01 $199,700 (-5.3%) $297,246 (10.7%) 0.00 237
2021-07-01 $199,900 (-6.7%) $306,492 (12.7%) 0.00 260
2021-08-01 $199,925 (-5.2%) $307,464 (13.0%) 0.00 272
2021-09-01 $200,156 (-9.0%) $295,717 (7.6%) 0.00 296
2021-10-01 $199,400 (-7.2%) $293,734 (7.8%) 0.00 289
2021-11-01 $213,250 (6.7%) $300,009 (12.3%) 0.00 266
2021-12-01 $225,475 (12.2%) $300,300 (11.0%) 0.00 255
2022-01-01 $229,900 (15.0%) $292,206 (5.0%) 0.00 222
2022-02-01 $203,650 (-4.1%) $265,909 (-9.6%) 0.00 198
2022-03-01 $218,925 (-1.3%) $285,219 (-6.5%) 0.00 205
2022-04-01 $219,900 (5.6%) $284,546 (-5.3%) 0.00 224
2022-05-01 $220,400 (10.5%) $284,137 (-6.0%) 0.00 237
2022-06-01 $224,400 (12.4%) $286,391 (-3.7%) 0.00 285
2022-07-01 $225,000 (12.6%) $290,937 (-5.1%) 0.00 363
2022-08-01 $219,900 (10.0%) $283,523 (-7.8%) 0.00 393
2022-09-01 $222,900 (11.4%) $284,652 (-3.7%) 0.00 397
2022-10-01 $224,900 (12.8%) $278,083 (-5.3%) 0.00 418
2022-11-01 $219,900 (3.1%) $271,403 (-9.5%) 0.00 439
Jonesboro's median listing price for 2022-11-01 was $219,900, a difference of $6,650 (3.1%) versus the prior year and $-5,000 versus the prior month.

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

Jonesboro's average listing price for 2022-11-01 was $271,403, a difference of $-28,606 (-9.5%) versus the prior year and $-6,680 versus the prior month.

For the 2022-11-01 period, Jonesboro had 439 MLS listings, a difference of 21 listings (5%) versus the prior month and 173 listings (65%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Jonesboro (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,913 sqft
2018-02-01 0 days 1,945 sqft
2018-03-01 0 days 1,945 sqft
2018-04-01 0 days 1,923 sqft
2018-05-01 0 days 1,940 sqft
2018-06-01 0 days 1,940 sqft
2018-07-01 0 days 1,969 sqft
2018-08-01 0 days 1,953 sqft
2018-09-01 0 days 1,940 sqft
2018-10-01 0 days 1,954 sqft
2018-11-01 0 days 1,926 sqft
2018-12-01 0 days 1,950 sqft
2019-01-01 0 days 1,943 sqft
2019-02-01 0 days 1,956 sqft
2019-03-01 0 days 2,021 sqft
2019-04-01 0 days 2,076 sqft
2019-05-01 0 days 2,109 sqft
2019-06-01 0 days 2,100 sqft
2019-07-01 0 days 2,121 sqft
2019-08-01 0 days 2,095 sqft
2019-09-01 0 days 2,065 sqft
2019-10-01 0 days 2,044 sqft
2019-11-01 0 days 2,050 sqft
2019-12-01 0 days 1,951 sqft
2020-01-01 0 days 1,914 sqft
2020-02-01 0 days 1,916 sqft
2020-03-01 0 days 1,921 sqft
2020-04-01 0 days 1,974 sqft
2020-05-01 0 days 1,937 sqft
2020-06-01 0 days 2,041 sqft
2020-07-01 0 days 2,075 sqft
2020-08-01 0 days 2,098 sqft
2020-09-01 0 days 2,086 sqft
2020-10-01 0 days 2,044 sqft
2020-11-01 0 days 1,987 sqft
2020-12-01 0 days 2,000 sqft
2021-01-01 0 days 1,980 sqft
2021-02-01 0 days 2,132 sqft
2021-03-01 0 days 2,163 sqft
2021-04-01 0 days 2,030 sqft
2021-05-01 0 days 1,819 sqft
2021-06-01 0 days 1,781 sqft
2021-07-01 0 days 1,819 sqft
2021-08-01 0 days 1,849 sqft
2021-09-01 0 days 1,876 sqft
2021-10-01 0 days 1,926 sqft
2021-11-01 0 days 1,936 sqft
2021-12-01 0 days 1,953 sqft
2022-01-01 0 days 1,921 sqft
2022-02-01 0 days 1,926 sqft
2022-03-01 0 days 1,865 sqft
2022-04-01 0 days 1,794 sqft
2022-05-01 0 days 1,890 sqft
2022-06-01 0 days 1,862 sqft
2022-07-01 0 days 1,855 sqft
2022-08-01 0 days 1,766 sqft
2022-09-01 0 days 1,786 sqft
2022-10-01 0 days 1,792 sqft
2022-11-01 0 days 1,779 sqft
Jonesboro's median listing age (time on market) for 2022-11-01 was 0 days.

Jonesboro's median square footage for active listings during the 2022-11-01 period was 1,779 sqft. One year prior, the average listing was 1,936 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.