Lafayette VA Loan Rates, Closing Costs & Stats

LAFAYETTE, LA

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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.

    Lafayette's 66 lenders originated 463 VA loans during 2023. The total origination value was $114,245,000, with an average VA loan value of $246,749.

    Lafayette VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Lafayette averaged 6.74% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Lafayette's average VA mortgage closing costs are $5,366.

    The average rate for the prior week (2025-02-07) was 6.47% and one month ago for the week of 2025-01-10, the average rate was 6.71%.

    The average rate one year ago was 6.63%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.54%.

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

    Lafayette 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 Lafayette level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 73 6.88% $4,630
    UNITED WHOLESALE MORTGAGE, LLC 55 6.61% $5,268
    DHI MORTGAGE COMPANY, LTD. 39 5.31% $5,976
    DSLD MORTGAGE, LLC 26 5.96% $3,390
    GMFS LLC 17 6.51% $4,570
    FREEDOM MORTGAGE CORPORATION 16 6.66% $10,289
    QUICKEN LOANS, LLC 15 6.10% $9,580
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 6.14% $8,048
    PENNYMAC LOAN SERVICES, LLC 13 5.91% $8,933
    Assurance Financial Group, L.L.C. 12 6.74% $4,842
    MID AMERICA MORTGAGE, INC. 10 6.73% $4,065
    NAVY FEDERAL CREDIT UNION 10 5.64% $5,075
    LOANDEPOT.COM, LLC 8 6.37% $11,103
    Equity Prime Mortgage LLC 7 6.95% $9,776
    EUSTIS AND AMERICAN MORTGAGE COMPANY 7 6.98% $5,181
    USAA Federal Savings Bank 7 6.73% $5,559
    AMERICAN FINANCIAL RESOURCES, INC. 6 7.52% $7,766
    NEW DAY FINANCIAL, LLC 6 7.54% $7,714
    STANDARD MORTGAGE CORPORATION 5 6.13% $5,850
    JPMorgan Chase Bank 5 6.23% $4,967
    VILLAGE CAPITAL MORTGAGE 4 6.81% $6,662
    CROSSCOUNTRY MORTGAGE, LLC 4 7.00% $9,915
    First Horizon Bank 4 6.47% $6,318
    Regions Bank 4 6.06% $11,663
    BROKER SOLUTIONS, INC. 4 6.84% $10,670
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.88% $2,646
    FIRST COMMUNITY MORTGAGE, INC. 3 7.13% $6,395
    The Federal Savings Bank 3 6.08% $17,685
    NEWREZ LLC 3 6.25% $7,138
    Mr. Cooper ( Nationstar Mortgage ) 3 6.21% $10,829
    Hancock Whitney Bank 3 5.88% $8,400
    INSPIRE HOME LOANS INC. 3 5.29% $7,802
    FIDELITY BANK 2 6.94% $4,584
    AMERISAVE MORTGAGE CORPORATION 2 6.25% $11,338
    Barrington Bank & Trust Company, N.A. 2 6.25% $7,634
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.75% $4,146
    Lakeview Community Capital, LLC 2 5.75% $12,021
    MORTGAGE FINANCIAL SERVICES, LLC 2 6.94% $2,538
    Plains Commerce Bank 2 6.37% $8,460
    PLANET HOME LENDING, LLC 2 6.63% $6,567
    PLAZA HOME MORTGAGE, INC. 2 6.50% $5,076
    Prosperity Home Mortgage, LLC 2 6.31% $10,899
    STOCKTON MORTGAGE CORPORATION 2 6.75% $3,081
    SUN WEST MORTGAGE COMPANY, INC. 2 5.75% $3,439
    UNION HOME MORTGAGE CORP. 2 6.19% $10,986
    PENTAGON FEDERAL CREDIT UNION 1 4.75% $8,525
    CARDINAL FINANCIAL 1 7.38% $15,032
    TIB The Independent Bankersbank 1 7.13% $10,697
    AmeriHome Mortgage Company, LLC 1 6.50% $10,249
    Presidential Bank, FSB 1 5.75% $8,715
    BAY EQUITY LLC 1 5.88% $3,582
    HOMESIDE FINANCIAL, LLC 1 6.75% $14,597
    First Option Mortgage, LLC 1 5.75% $3,975
    RELIANCE FIRST CAPITAL, LLC 1 7.50% $7,301
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 7.63% $5,682
    City Bank 1 7.25% $4,175
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.25% $9,387
    Summit Mortgage Corporation 1 7.25% $8,038
    Victorian Finance, LLC 1 7.25% $4,055
    NBKC BANK 1 5.50% $11,934
    Neighborhood Loans, Inc. 1 7.13% $4,546
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $4,473
    Magnolia Bank 1 6.75% $7,566
    NTFN, INC. 1 6.75% $4,635
    Paramount Residential Mortgage Group, Inc. 1 5.50% $20,728
    KEESLER 1 5.50% $8,340

    The top Lafayette VA lender as defined by loan originations is Mortgage Research Center, LLC, with 73 VA loans originated. Their average total fees are $4,630, which is $639 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Lafayette VA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($3,390), MID AMERICA MORTGAGE, INC. ($4,065), GMFS LLC ($4,570), Mortgage Research Center, LLC ($4,630) and Assurance Financial Group, L.L.C. ($4,842).

    The lowest rate Lafayette VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.31%), NAVY FEDERAL CREDIT UNION (5.64%), PENNYMAC LOAN SERVICES, LLC (5.91%), DSLD MORTGAGE, LLC (5.96%) and QUICKEN LOANS, LLC (6.10%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lafayette (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 $212,425 (-1.0%) $264,546 (-2.0%) 0.77 1,908
    2018-02-01 $214,300 (-1.0%) $268,960 (0.1%) 0.76 1,930
    2018-03-01 $215,000 (-1.9%) $270,834 (-1.6%) 0.74 2,018
    2018-04-01 $219,183 (-2.6%) $276,517 (-2.3%) 0.73 2,027
    2018-05-01 $219,000 (-2.7%) $276,132 (-3.1%) 0.71 2,091
    2018-06-01 $217,500 (-3.3%) $275,234 (-3.5%) 0.70 2,168
    2018-07-01 $217,800 (-2.3%) $276,035 (-2.9%) 0.70 2,216
    2018-08-01 $217,600 (-1.1%) $273,029 (-2.5%) 0.70 2,255
    2018-09-01 $218,703 (-0.1%) $273,536 (-1.6%) 0.71 2,221
    2018-10-01 $215,000 (-0.9%) $269,033 (-2.8%) 0.70 2,203
    2018-11-01 $215,000 (0.0%) $272,031 (-0.3%) 0.71 2,164
    2018-12-01 $215,000 (1.0%) $272,748 (1.9%) 0.71 2,135
    2019-01-01 $215,250 (1.3%) $276,764 (4.6%) 0.72 2,035
    2019-02-01 $218,650 (2.0%) $281,958 (4.8%) 0.71 2,067
    2019-03-01 $219,800 (2.2%) $286,127 (5.7%) 0.69 2,066
    2019-04-01 $221,400 (1.0%) $290,734 (5.1%) 0.68 2,062
    2019-05-01 $226,475 (3.4%) $295,283 (6.9%) 0.68 1,999
    2019-06-01 $226,750 (4.3%) $296,241 (7.6%) 0.69 2,013
    2019-07-01 $229,000 (5.1%) $300,855 (9.0%) 0.69 2,005
    2019-08-01 $227,909 (4.7%) $301,092 (10.3%) 0.70 1,965
    2019-09-01 $226,273 (3.5%) $301,580 (10.3%) 0.70 1,915
    2019-10-01 $225,000 (4.7%) $302,686 (12.5%) 0.71 1,869
    2019-11-01 $220,900 (2.7%) $298,107 (9.6%) 0.70 1,836
    2019-12-01 $219,684 (2.2%) $292,253 (7.2%) 0.70 1,742
    2020-01-01 $220,000 (2.2%) $293,739 (6.1%) 0.70 1,653
    2020-02-01 $219,500 (0.4%) $298,639 (5.9%) 0.69 1,677
    2020-03-01 $222,450 (1.2%) $311,720 (8.9%) 0.67 1,685
    2020-04-01 $225,000 (1.6%) $313,931 (8.0%) 0.68 1,610
    2020-05-01 $226,230 (-0.1%) $318,531 (7.9%) 0.67 1,579
    2020-06-01 $225,450 (-0.6%) $322,912 (9.0%) 0.65 1,466
    2020-07-01 $229,680 (0.3%) $325,731 (8.3%) 0.66 1,365
    2020-08-01 $239,000 (4.9%) $330,989 (9.9%) 0.67 1,318
    2020-09-01 $237,250 (4.9%) $333,851 (10.7%) 0.67 1,204
    2020-10-01 $235,000 (4.4%) $340,250 (12.4%) 0.66 1,127
    2020-11-01 $233,300 (5.6%) $341,597 (14.6%) 0.67 1,030
    2020-12-01 $229,450 (4.5%) $342,499 (17.2%) 0.68 990
    2021-01-01 $230,000 (4.6%) $346,735 (18.0%) 0.68 889
    2021-02-01 $239,950 (9.3%) $348,746 (16.8%) 0.68 826
    2021-03-01 $249,000 (11.9%) $361,906 (16.1%) 0.68 763
    2021-04-01 $255,325 (13.5%) $382,882 (22.0%) 0.67 687
    2021-05-01 $282,500 (24.9%) $405,844 (27.4%) 0.73 646
    2021-06-01 $284,750 (26.3%) $415,741 (28.8%) 0.73 657
    2021-07-01 $276,250 (20.3%) $420,321 (29.0%) 0.71 706
    2021-08-01 $275,250 (15.2%) $425,538 (28.6%) 0.72 721
    2021-09-01 $278,850 (17.5%) $430,831 (29.1%) 0.73 718
    2021-10-01 $279,500 (18.9%) $409,354 (20.3%) 0.73 708
    2021-11-01 $277,500 (19.0%) $403,473 (18.1%) 0.72 705
    2021-12-01 $277,500 (20.9%) $394,657 (15.2%) 0.73 689
    2022-01-01 $276,475 (20.2%) $397,302 (14.6%) 0.73 632
    2022-02-01 $279,000 (16.3%) $403,943 (15.8%) 0.71 591
    2022-03-01 $290,125 (16.5%) $417,325 (15.3%) 0.72 567
    2022-04-01 $308,388 (20.8%) $426,286 (11.3%) 0.72 554
    2022-05-01 $300,250 (6.3%) $427,208 (5.3%) 0.68 589
    2022-06-01 $304,125 (6.8%) $417,726 (0.5%) 0.66 667
    2022-07-01 $299,450 (8.4%) $397,690 (-5.4%) 0.66 782
    2022-08-01 $295,600 (7.4%) $383,861 (-9.8%) 0.66 815
    2022-09-01 $298,975 (7.2%) $387,269 (-10.1%) 0.67 849
    2022-10-01 $294,600 (5.4%) $391,016 (-4.5%) 0.66 846
    2022-11-01 $288,625 (4.0%) $375,028 (-7.1%) 0.66 894
    2022-12-01 $293,250 (5.7%) $375,967 (-4.7%) 0.68 865
    2023-01-01 $299,625 (8.4%) $383,123 (-3.6%) 0.71 848
    2023-02-01 $295,000 (5.7%) $379,683 (-6.0%) 0.67 843
    2023-03-01 $298,950 (3.0%) $384,760 (-7.8%) 0.67 861
    2023-04-01 $283,000 (-8.2%) $378,150 (-11.3%) 0.63 888
    2023-05-01 $285,281 (-5.0%) $379,070 (-11.3%) 0.61 911
    2023-06-01 $280,500 (-7.8%) $376,526 (-9.9%) 0.61 944
    2023-07-01 $274,000 (-8.5%) $362,721 (-8.8%) 0.60 1,035
    2023-08-01 $270,700 (-8.4%) $358,217 (-6.7%) 0.61 1,044
    2023-09-01 $274,900 (-8.1%) $356,699 (-7.9%) 0.62 1,048
    2023-10-01 $269,950 (-8.4%) $350,552 (-10.4%) 0.62 1,073
    2023-11-01 $273,091 (-5.4%) $349,699 (-6.8%) 0.63 1,114
    2023-12-01 $270,000 (-7.9%) $353,280 (-6.0%) 0.64 1,143
    2024-01-01 $266,200 (-11.2%) $353,669 (-7.7%) 0.63 1,093
    2024-02-01 $267,725 (-9.3%) $358,337 (-5.6%) 0.63 1,065
    2024-03-01 $265,000 (-11.4%) $358,961 (-6.7%) 0.61 1,104
    2024-04-01 $267,765 (-5.4%) $353,152 (-6.6%) 0.60 1,213
    2024-05-01 $269,225 (-5.6%) $355,995 (-6.1%) 0.59 1,214
    2024-06-01 $270,000 (-3.7%) $359,667 (-4.5%) 0.58 1,265
    2024-07-01 $273,500 (-0.2%) $365,572 (0.8%) 0.60 1,274
    2024-08-01 $272,000 (0.5%) $363,742 (1.5%) 0.60 1,328
    2024-09-01 $272,100 (-1.0%) $361,661 (1.4%) 0.61 1,334
    2024-10-01 $279,950 (3.7%) $366,942 (4.7%) 0.62 1,377
    2024-11-01 $275,000 (0.7%) $367,673 (5.1%) 0.64 1,411
    2024-12-01 $269,950 (0.0%) $363,290 (2.8%) 0.65 1,428
    2025-01-01 $269,525 (1.3%) $366,372 (3.6%) 0.00 1,375
    Lafayette's median listing price for 2025-01-01 was $269,525, a difference of $3,325 (1.3%) versus the prior year and $-425 versus the prior month.

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

    Lafayette's average listing price for 2025-01-01 was $366,372, a difference of $12,703 (3.6%) versus the prior year and $3,082 versus the prior month.

    For the 2025-01-01 period, Lafayette had 1,375 MLS listings, a difference of -53 listings (-4%) versus the prior month and 282 listings (26%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lafayette (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 100 days 1,863 sqft
    2018-02-01 97 days 1,865 sqft
    2018-03-01 74 days 1,862 sqft
    2018-04-01 73 days 1,888 sqft
    2018-05-01 70 days 1,891 sqft
    2018-06-01 73 days 1,897 sqft
    2018-07-01 79 days 1,888 sqft
    2018-08-01 86 days 1,889 sqft
    2018-09-01 88 days 1,893 sqft
    2018-10-01 93 days 1,882 sqft
    2018-11-01 95 days 1,879 sqft
    2018-12-01 100 days 1,875 sqft
    2019-01-01 108 days 1,893 sqft
    2019-02-01 109 days 1,908 sqft
    2019-03-01 98 days 1,910 sqft
    2019-04-01 86 days 1,914 sqft
    2019-05-01 83 days 1,935 sqft
    2019-06-01 82 days 1,933 sqft
    2019-07-01 86 days 1,951 sqft
    2019-08-01 87 days 1,941 sqft
    2019-09-01 86 days 1,926 sqft
    2019-10-01 87 days 1,917 sqft
    2019-11-01 87 days 1,916 sqft
    2019-12-01 92 days 1,903 sqft
    2020-01-01 94 days 1,900 sqft
    2020-02-01 88 days 1,896 sqft
    2020-03-01 73 days 1,922 sqft
    2020-04-01 81 days 1,934 sqft
    2020-05-01 88 days 1,930 sqft
    2020-06-01 96 days 1,926 sqft
    2020-07-01 82 days 1,969 sqft
    2020-08-01 73 days 2,000 sqft
    2020-09-01 73 days 1,983 sqft
    2020-10-01 78 days 1,963 sqft
    2020-11-01 78 days 1,997 sqft
    2020-12-01 80 days 1,993 sqft
    2021-01-01 79 days 2,000 sqft
    2021-02-01 71 days 2,000 sqft
    2021-03-01 59 days 2,010 sqft
    2021-04-01 54 days 2,051 sqft
    2021-05-01 51 days 2,164 sqft
    2021-06-01 46 days 2,135 sqft
    2021-07-01 47 days 2,080 sqft
    2021-08-01 55 days 2,065 sqft
    2021-09-01 60 days 2,077 sqft
    2021-10-01 60 days 2,021 sqft
    2021-11-01 60 days 1,995 sqft
    2021-12-01 63 days 1,996 sqft
    2022-01-01 71 days 1,972 sqft
    2022-02-01 65 days 1,991 sqft
    2022-03-01 59 days 2,091 sqft
    2022-04-01 53 days 2,144 sqft
    2022-05-01 52 days 2,101 sqft
    2022-06-01 48 days 2,013 sqft
    2022-07-01 47 days 2,000 sqft
    2022-08-01 55 days 1,997 sqft
    2022-09-01 61 days 2,000 sqft
    2022-10-01 70 days 1,985 sqft
    2022-11-01 75 days 1,959 sqft
    2022-12-01 85 days 1,950 sqft
    2023-01-01 91 days 1,960 sqft
    2023-02-01 87 days 1,946 sqft
    2023-03-01 66 days 1,949 sqft
    2023-04-01 59 days 1,906 sqft
    2023-05-01 61 days 1,908 sqft
    2023-06-01 65 days 1,902 sqft
    2023-07-01 67 days 1,885 sqft
    2023-08-01 71 days 1,884 sqft
    2023-09-01 71 days 1,887 sqft
    2023-10-01 72 days 1,890 sqft
    2023-11-01 69 days 1,863 sqft
    2023-12-01 75 days 1,863 sqft
    2024-01-01 86 days 1,850 sqft
    2024-02-01 90 days 1,857 sqft
    2024-03-01 69 days 1,851 sqft
    2024-04-01 57 days 1,833 sqft
    2024-05-01 60 days 1,858 sqft
    2024-06-01 71 days 1,866 sqft
    2024-07-01 74 days 1,861 sqft
    2024-08-01 71 days 1,854 sqft
    2024-09-01 75 days 1,861 sqft
    2024-10-01 77 days 1,873 sqft
    2024-11-01 82 days 1,863 sqft
    2024-12-01 87 days 1,842 sqft
    2025-01-01 0 days 1,833 sqft
    Lafayette's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Lafayette's median square footage for active listings during the 2025-01-01 period was 1,833 sqft. One year prior, the average listing was 1,850 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.