Lafayette VA Loans
LAFAYETTE, LA
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.
Lafayette's 99 lenders originated 1,191 VA loans during 2021. The total origination value was $277,875,000, with an average VA loan value of $233,312.
Lafayette VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Lafayette
averaged
5.43%
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
5.46% and
one month ago for the week of 2022-04-08, the
average rate was 4.89%.
The average rate one year ago was 2.9%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.27%.
Lafayette 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 Lafayette level.
The top Lafayette VA lender as defined by loan originations is Mortgage Research Center, LLC, with
85 VA loans originated. Their average total fees are
$5,327, which is $2,211
higher than the next largest lender,
FREEDOM MORTGAGE CORPORATION.
The lowest fee Lafayette VA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($1,929), FREEDOM MORTGAGE CORPORATION ($3,116), VILLAGE CAPITAL & INVESTMENT LLC ($3,188), Barrington Bank & Trust Company, N.A. ($3,248) and CALIBER HOME LOANS, INC. ($3,265).
The lowest rate Lafayette VA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC (2.35%), FREEDOM MORTGAGE CORPORATION (2.47%), PENNYMAC LOAN SERVICES, LLC (2.47%), NAVY FEDERAL CREDIT UNION (2.50%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (2.54%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Lafayette (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $208,500 (-0.5%) | $258,538 (-1.4%) | 0.77 | 2,107 |
2018-02-01 | $209,950 (0.0%) | $262,399 (0.5%) | 0.76 | 2,135 |
2018-03-01 | $210,000 (-2.3%) | $263,718 (-1.6%) | 0.73 | 2,235 |
2018-04-01 | $214,900 (-2.7%) | $267,995 (-2.7%) | 0.72 | 2,259 |
2018-05-01 | $214,100 (-2.9%) | $268,114 (-3.2%) | 0.71 | 2,319 |
2018-06-01 | $211,900 (-3.7%) | $266,949 (-3.5%) | 0.71 | 2,393 |
2018-07-01 | $210,000 (-4.1%) | $268,051 (-2.7%) | 0.70 | 2,472 |
2018-08-01 | $210,650 (-2.0%) | $265,010 (-2.3%) | 0.70 | 2,507 |
2018-09-01 | $212,500 (-0.3%) | $266,547 (-0.3%) | 0.71 | 2,471 |
2018-10-01 | $205,000 (-2.8%) | $260,262 (-2.3%) | 0.69 | 2,470 |
2018-11-01 | $207,950 (-1.0%) | $262,596 (-0.4%) | 0.70 | 2,412 |
2018-12-01 | $205,524 (-1.4%) | $261,794 (0.1%) | 0.70 | 2,359 |
2019-01-01 | $208,500 (0.0%) | $266,166 (3.0%) | 0.72 | 2,243 |
2019-02-01 | $210,000 (0.0%) | $270,151 (3.0%) | 0.70 | 2,285 |
2019-03-01 | $212,143 (1.0%) | $274,582 (4.1%) | 0.69 | 2,287 |
2019-04-01 | $215,000 (0.1%) | $278,329 (3.9%) | 0.68 | 2,292 |
2019-05-01 | $217,785 (1.7%) | $283,201 (5.6%) | 0.67 | 2,233 |
2019-06-01 | $219,000 (3.4%) | $284,174 (6.5%) | 0.67 | 2,252 |
2019-07-01 | $220,000 (4.8%) | $292,002 (8.9%) | 0.68 | 2,236 |
2019-08-01 | $219,143 (4.0%) | $293,940 (10.9%) | 0.69 | 2,169 |
2019-09-01 | $218,143 (2.7%) | $295,611 (10.9%) | 0.69 | 2,077 |
2019-10-01 | $219,000 (6.8%) | $293,968 (13.0%) | 0.70 | 2,068 |
2019-11-01 | $214,000 (2.9%) | $289,447 (10.2%) | 0.69 | 2,020 |
2019-12-01 | $210,168 (2.3%) | $283,099 (8.1%) | 0.70 | 1,922 |
2020-01-01 | $210,000 (0.7%) | $284,403 (6.9%) | 0.70 | 1,826 |
2020-02-01 | $210,000 (0.0%) | $288,808 (6.9%) | 0.68 | 1,848 |
2020-03-01 | $213,455 (0.6%) | $300,262 (9.4%) | 0.67 | 1,866 |
2020-04-01 | $217,000 (0.9%) | $301,875 (8.5%) | 0.68 | 1,791 |
2020-05-01 | $219,500 (0.8%) | $309,479 (9.3%) | 0.67 | 1,726 |
2020-06-01 | $219,000 (0.0%) | $312,533 (10.0%) | 0.64 | 1,594 |
2020-07-01 | $226,850 (3.1%) | $317,742 (8.8%) | 0.65 | 1,479 |
2020-08-01 | $234,000 (6.8%) | $323,685 (10.1%) | 0.67 | 1,422 |
2020-09-01 | $234,750 (7.6%) | $329,172 (11.4%) | 0.67 | 1,296 |
2020-10-01 | $229,835 (5.0%) | $336,237 (14.4%) | 0.66 | 1,223 |
2020-11-01 | $231,950 (8.4%) | $340,349 (17.6%) | 0.66 | 1,117 |
2020-12-01 | $227,000 (8.0%) | $338,742 (19.7%) | 0.67 | 1,080 |
2021-01-01 | $227,520 (8.3%) | $343,614 (20.8%) | 0.67 | 982 |
2021-02-01 | $235,000 (11.9%) | $344,473 (19.3%) | 0.68 | 915 |
2021-03-01 | $239,450 (12.2%) | $357,620 (19.1%) | 0.67 | 844 |
2021-04-01 | $246,815 (13.7%) | $376,903 (24.9%) | 0.66 | 769 |
2021-05-01 | $274,500 (25.1%) | $392,767 (26.9%) | 0.72 | 713 |
2021-06-01 | $275,000 (25.6%) | $402,059 (28.7%) | 0.71 | 716 |
2021-07-01 | $269,000 (18.6%) | $401,350 (26.3%) | 0.70 | 760 |
2021-08-01 | $269,000 (15.0%) | $408,792 (26.3%) | 0.71 | 785 |
2021-09-01 | $271,250 (15.6%) | $410,807 (24.8%) | 0.71 | 783 |
2021-10-01 | $274,900 (19.6%) | $387,916 (15.4%) | 0.72 | 792 |
2021-11-01 | $269,000 (16.0%) | $381,434 (12.1%) | 0.71 | 787 |
2021-12-01 | $269,000 (18.5%) | $372,055 (9.8%) | 0.72 | 762 |
2022-01-01 | $265,500 (16.7%) | $376,615 (9.6%) | 0.71 | 692 |
2022-02-01 | $275,000 (17.0%) | $385,032 (11.8%) | 0.70 | 661 |
2022-03-01 | $283,500 (18.4%) | $396,794 (11.0%) | 0.70 | 635 |
2022-04-01 | $300,000 (21.6%) | $409,766 (8.7%) | 0.71 | 624 |
Lafayette's median listing price comes in at 71% of the national average.
Lafayette's average listing price for 2022-04-01 was $409,766, a difference of $32,863 (8.7%) versus the prior year and $12,972 versus the prior month.
For the 2022-04-01 period, Lafayette had 624 MLS listings, a difference of -11 listings (-2%) versus the prior month and -145 listings (-19%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Lafayette (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 107 days | 1,860 sqft |
2018-02-01 | 107 days | 1,864 sqft |
2018-03-01 | 93 days | 1,862 sqft |
2018-04-01 | 80 days | 1,888 sqft |
2018-05-01 | 75 days | 1,890 sqft |
2018-06-01 | 80 days | 1,891 sqft |
2018-07-01 | 85 days | 1,887 sqft |
2018-08-01 | 94 days | 1,885 sqft |
2018-09-01 | 96 days | 1,891 sqft |
2018-10-01 | 101 days | 1,877 sqft |
2018-11-01 | 105 days | 1,879 sqft |
2018-12-01 | 111 days | 1,875 sqft |
2019-01-01 | 118 days | 1,885 sqft |
2019-02-01 | 121 days | 1,900 sqft |
2019-03-01 | 120 days | 1,903 sqft |
2019-04-01 | 96 days | 1,908 sqft |
2019-05-01 | 97 days | 1,925 sqft |
2019-06-01 | 94 days | 1,925 sqft |
2019-07-01 | 98 days | 1,941 sqft |
2019-08-01 | 102 days | 1,936 sqft |
2019-09-01 | 105 days | 1,923 sqft |
2019-10-01 | 101 days | 1,911 sqft |
2019-11-01 | 100 days | 1,902 sqft |
2019-12-01 | 105 days | 1,895 sqft |
2020-01-01 | 107 days | 1,892 sqft |
2020-02-01 | 100 days | 1,889 sqft |
2020-03-01 | 90 days | 1,914 sqft |
2020-04-01 | 90 days | 1,922 sqft |
2020-05-01 | 100 days | 1,917 sqft |
2020-06-01 | 107 days | 1,910 sqft |
2020-07-01 | 103 days | 1,967 sqft |
2020-08-01 | 85 days | 1,998 sqft |
2020-09-01 | 80 days | 1,982 sqft |
2020-10-01 | 83 days | 1,953 sqft |
2020-11-01 | 86 days | 2,000 sqft |
2020-12-01 | 86 days | 2,000 sqft |
2021-01-01 | 81 days | 2,006 sqft |
2021-02-01 | 79 days | 2,001 sqft |
2021-03-01 | 68 days | 2,000 sqft |
2021-04-01 | 63 days | 2,022 sqft |
2021-05-01 | 60 days | 2,118 sqft |
2021-06-01 | 52 days | 2,101 sqft |
2021-07-01 | 50 days | 2,061 sqft |
2021-08-01 | 59 days | 2,032 sqft |
2021-09-01 | 61 days | 2,062 sqft |
2021-10-01 | 64 days | 1,991 sqft |
2021-11-01 | 60 days | 1,972 sqft |
2021-12-01 | 62 days | 1,995 sqft |
2022-01-01 | 74 days | 1,966 sqft |
2022-02-01 | 72 days | 1,990 sqft |
2022-03-01 | 64 days | 2,080 sqft |
2022-04-01 | 59 days | 2,145 sqft |
Lafayette's median square footage for active listings during the 2022-04-01 period was 2,145 sqft. One year prior, the average listing was 2,022 sqft.