Jonesboro VA Loans

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 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 5.36% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.59% and one month ago for the week of 2022-04-08, the average rate was 5.22%.

The average rate one year ago was 3.23%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.39%.

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 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. Total Fees
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 & INVESTMENT LLC 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 $174,450 (10.5%) $229,258 (5.9%) 0.00 803
2018-02-01 $182,950 (8.3%) $234,767 (4.9%) 0.00 785
2018-03-01 $189,000 (7.4%) $239,379 (5.5%) 0.00 750
2018-04-01 $182,450 (-0.8%) $239,706 (3.8%) 0.00 734
2018-05-01 $181,574 (-1.8%) $241,358 (2.9%) 0.00 724
2018-06-01 $183,248 (2.7%) $242,862 (2.8%) 0.00 765
2018-07-01 $184,400 (8.5%) $242,041 (4.6%) 0.00 778
2018-08-01 $182,850 (11.4%) $243,544 (6.7%) 0.00 795
2018-09-01 $181,500 (10.0%) $243,842 (5.4%) 0.00 824
2018-10-01 $181,450 (4.9%) $243,626 (7.1%) 0.00 850
2018-11-01 $174,900 (2.3%) $238,120 (5.8%) 0.00 900
2018-12-01 $184,500 (8.6%) $238,394 (4.6%) 0.00 876
2019-01-01 $184,900 (6.0%) $231,454 (1.0%) 0.00 870
2019-02-01 $189,925 (3.8%) $240,681 (2.5%) 0.00 857
2019-03-01 $200,114 (5.9%) $247,003 (3.2%) 0.00 836
2019-04-01 $201,600 (10.5%) $247,592 (3.3%) 0.00 793
2019-05-01 $203,700 (12.2%) $258,575 (7.1%) 0.00 793
2019-06-01 $208,800 (13.9%) $262,879 (8.2%) 0.00 808
2019-07-01 $218,650 (18.6%) $264,287 (9.2%) 0.00 787
2019-08-01 $209,229 (14.4%) $260,623 (7.0%) 0.00 690
2019-09-01 $194,950 (7.4%) $254,542 (4.4%) 0.00 613
2019-10-01 $192,450 (6.1%) $249,096 (2.3%) 0.00 596
2019-11-01 $197,000 (12.6%) $251,726 (5.7%) 0.00 553
2019-12-01 $189,450 (2.7%) $245,807 (3.1%) 0.00 560
2020-01-01 $180,728 (-2.3%) $238,575 (3.1%) 0.00 536
2020-02-01 $188,500 (-0.8%) $239,087 (-0.7%) 0.00 584
2020-03-01 $192,400 (-3.9%) $241,870 (-2.1%) 0.00 586
2020-04-01 $205,200 (1.8%) $249,251 (0.7%) 0.00 553
2020-05-01 $199,900 (-1.9%) $255,673 (-1.1%) 0.00 508
2020-06-01 $209,900 (0.5%) $258,743 (-1.6%) 0.00 511
2020-07-01 $204,900 (-6.3%) $262,170 (-0.8%) 0.00 485
2020-08-01 $199,900 (-4.5%) $260,711 (0.0%) 0.00 461
2020-09-01 $210,900 (8.2%) $266,640 (4.8%) 0.00 436
2020-10-01 $199,900 (3.9%) $264,077 (6.0%) 0.00 415
2020-11-01 $187,400 (-4.9%) $261,238 (3.8%) 0.00 391
2020-12-01 $195,000 (2.9%) $265,187 (7.9%) 0.00 357
2021-01-01 $199,900 (10.6%) $274,963 (15.3%) 0.00 330
2021-02-01 $209,950 (11.4%) $291,667 (22.0%) 0.00 300
2021-03-01 $217,450 (13.0%) $293,560 (21.4%) 0.00 286
2021-04-01 $197,400 (-3.8%) $285,876 (14.7%) 0.00 250
2021-05-01 $188,500 (-5.7%) $286,725 (12.2%) 0.00 245
2021-06-01 $192,400 (-8.3%) $276,850 (7.0%) 0.00 280
2021-07-01 $191,400 (-6.6%) $276,450 (5.5%) 0.00 320
2021-08-01 $188,400 (-5.8%) $272,506 (4.5%) 0.00 323
2021-09-01 $194,950 (-7.6%) $272,165 (2.1%) 0.00 329
2021-10-01 $189,900 (-5.0%) $267,262 (1.2%) 0.00 306
2021-11-01 $194,450 (3.8%) $263,675 (0.9%) 0.00 281
2021-12-01 $198,333 (1.7%) $266,983 (0.7%) 0.00 281
2022-01-01 $197,365 (-1.3%) $257,398 (-6.4%) 0.00 250
2022-02-01 $199,100 (-5.2%) $257,526 (-11.7%) 0.00 227
2022-03-01 $200,390 (-7.9%) $274,366 (-6.5%) 0.00 234
2022-04-01 $207,000 (4.9%) $271,007 (-5.2%) 0.00 261
Jonesboro's median listing price for 2022-04-01 was $207,000, a difference of $9,600 (4.9%) versus the prior year and $6,610 versus the prior month.

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

Jonesboro's average listing price for 2022-04-01 was $271,007, a difference of $-14,869 (-5.2%) versus the prior year and $-3,359 versus the prior month.

For the 2022-04-01 period, Jonesboro had 261 MLS listings, a difference of 27 listings (12%) versus the prior month and 11 listings (4%) 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 1,940 sqft
2018-02-01 0 days 1,963 sqft
2018-03-01 0 days 1,969 sqft
2018-04-01 0 days 1,950 sqft
2018-05-01 0 days 1,960 sqft
2018-06-01 0 days 1,970 sqft
2018-07-01 0 days 1,988 sqft
2018-08-01 0 days 1,976 sqft
2018-09-01 0 days 1,970 sqft
2018-10-01 0 days 1,985 sqft
2018-11-01 0 days 1,966 sqft
2018-12-01 0 days 1,960 sqft
2019-01-01 0 days 1,962 sqft
2019-02-01 0 days 1,979 sqft
2019-03-01 0 days 2,036 sqft
2019-04-01 0 days 2,070 sqft
2019-05-01 0 days 2,104 sqft
2019-06-01 0 days 2,100 sqft
2019-07-01 0 days 2,126 sqft
2019-08-01 0 days 2,097 sqft
2019-09-01 0 days 2,051 sqft
2019-10-01 0 days 2,021 sqft
2019-11-01 0 days 2,062 sqft
2019-12-01 0 days 1,951 sqft
2020-01-01 0 days 1,920 sqft
2020-02-01 0 days 1,937 sqft
2020-03-01 0 days 1,946 sqft
2020-04-01 0 days 2,046 sqft
2020-05-01 0 days 2,041 sqft
2020-06-01 0 days 2,076 sqft
2020-07-01 0 days 2,043 sqft
2020-08-01 0 days 2,040 sqft
2020-09-01 0 days 2,038 sqft
2020-10-01 0 days 2,036 sqft
2020-11-01 0 days 1,978 sqft
2020-12-01 0 days 1,980 sqft
2021-01-01 0 days 1,978 sqft
2021-02-01 0 days 2,167 sqft
2021-03-01 0 days 2,179 sqft
2021-04-01 0 days 1,989 sqft
2021-05-01 0 days 1,724 sqft
2021-06-01 0 days 1,722 sqft
2021-07-01 0 days 1,729 sqft
2021-08-01 0 days 1,785 sqft
2021-09-01 0 days 1,829 sqft
2021-10-01 0 days 1,848 sqft
2021-11-01 0 days 1,854 sqft
2021-12-01 0 days 1,873 sqft
2022-01-01 0 days 1,823 sqft
2022-02-01 0 days 1,873 sqft
2022-03-01 0 days 1,789 sqft
2022-04-01 0 days 1,742 sqft
Jonesboro's median listing age (time on market) for 2022-04-01 was 0 days.

Jonesboro's median square footage for active listings during the 2022-04-01 period was 1,742 sqft. One year prior, the average listing was 1,989 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.