Lake Charles VA Loan Rates, Closing Costs & Stats

LAKE CHARLES, 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.

    Lake Charles's 36 lenders originated 186 VA loans during 2023. The total origination value was $45,750,000, with an average VA loan value of $245,968.

    Lake Charles VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Lake Charles averaged 6.8% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Lake Charles's average VA mortgage closing costs are $5,344.

    The average rate for the prior week (2024-04-12) was 6.63% and one month ago for the week of 2024-03-15, the average rate was 6.8%.

    The average rate one year ago was 5.99%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

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

    Lake Charles 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 Lake Charles level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 43 6.81% $4,803
    UNITED WHOLESALE MORTGAGE, LLC 19 6.38% $6,306
    NAVY FEDERAL CREDIT UNION 12 5.89% $5,462
    FIDELITY BANK 11 6.76% $3,647
    DHI MORTGAGE COMPANY, LTD. 9 5.19% $7,596
    USAA Federal Savings Bank 8 6.23% $7,982
    DSLD MORTGAGE, LLC 8 5.73% $3,736
    GMFS LLC 6 6.00% $8,785
    NTFN, INC. 5 7.03% $8,596
    FREEDOM MORTGAGE CORPORATION 5 6.52% $13,670
    QUICKEN LOANS, LLC 4 6.25% $8,260
    NEWREZ LLC 4 7.00% $8,303
    PENNYMAC LOAN SERVICES, LLC 3 6.04% $7,102
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 7.25% $9,679
    NEW DAY FINANCIAL, LLC 3 7.67% $9,799
    T2 FINANCIAL LLC 3 6.96% $8,440
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.75% $2,544
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.37% $1,928
    JPMorgan Chase Bank 2 5.06% $0
    Barrington Bank & Trust Company, N.A. 2 6.75% $10,722
    Chickasaw Community Bank 2 7.00% $6,773
    Red River Bank 2 5.94% $3,742
    Mr. Cooper ( Nationstar Mortgage ) 2 5.94% $7,543
    PENTAGON FEDERAL CREDIT UNION 2 5.88% $5,127
    VILLAGE CAPITAL MORTGAGE 1 7.13% $11,735
    Citizens Bank 1 6.25% $3,345
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $2,085
    FBC MORTGAGE, LLC 1 5.75% $15,725
    Flagstar Bank, FSB 1 6.25% $21,694
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $16,134
    LEGEND LENDING CORPORATION 1 7.25% $6,687
    Plains Commerce Bank 1 5.75% $4,023
    PREMIA MORTGAGE, LLC 1 6.18% $13,248
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.75% $3,071
    UNION HOME MORTGAGE CORP. 1 6.00% $7,623
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.63% $4,852

    The top Lake Charles VA lender as defined by loan originations is Mortgage Research Center, LLC, with 43 VA loans originated. Their average total fees are $4,803, which is $1,503 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Lake Charles VA lenders (with over 10 loans originated) are FIDELITY BANK ($3,647), Mortgage Research Center, LLC ($4,803), NAVY FEDERAL CREDIT UNION ($5,462), UNITED WHOLESALE MORTGAGE, LLC ($6,306) and .

    The lowest rate Lake Charles VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.89%), UNITED WHOLESALE MORTGAGE, LLC (6.38%), FIDELITY BANK (6.76%), Mortgage Research Center, LLC (6.81%) and .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lake Charles (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 $231,000 (-3.7%) $294,716 (-11.0%) 0.86 849
    2018-02-01 $229,250 (-4.3%) $290,130 (-11.5%) 0.83 838
    2018-03-01 $234,900 (-4.5%) $293,049 (-12.0%) 0.82 825
    2018-04-01 $235,250 (-5.9%) $293,284 (-13.0%) 0.80 817
    2018-05-01 $244,500 (-2.2%) $306,979 (-11.0%) 0.82 803
    2018-06-01 $240,000 (-3.7%) $300,900 (-12.1%) 0.80 885
    2018-07-01 $235,000 (-4.5%) $296,453 (-9.7%) 0.78 914
    2018-08-01 $239,925 (-0.9%) $325,459 (4.2%) 0.80 933
    2018-09-01 $235,958 (-1.6%) $319,951 (5.1%) 0.79 952
    2018-10-01 $235,479 (-0.6%) $313,600 (3.8%) 0.80 978
    2018-11-01 $234,358 (0.7%) $316,874 (5.2%) 0.79 987
    2018-12-01 $234,700 (0.5%) $322,782 (7.8%) 0.81 979
    2019-01-01 $234,950 (1.7%) $318,136 (8.0%) 0.81 973
    2019-02-01 $236,860 (3.3%) $316,143 (9.0%) 0.80 974
    2019-03-01 $238,999 (1.8%) $320,703 (9.4%) 0.78 950
    2019-04-01 $239,636 (1.9%) $326,348 (11.3%) 0.76 928
    2019-05-01 $241,700 (-1.2%) $335,309 (9.2%) 0.76 901
    2019-06-01 $240,667 (0.3%) $328,390 (9.1%) 0.75 879
    2019-07-01 $239,375 (1.9%) $322,993 (9.0%) 0.75 940
    2019-08-01 $235,827 (-1.7%) $318,585 (-2.1%) 0.75 965
    2019-09-01 $232,268 (-1.6%) $317,460 (-0.8%) 0.74 966
    2019-10-01 $230,000 (-2.3%) $319,554 (1.9%) 0.74 957
    2019-11-01 $229,950 (-1.9%) $318,376 (0.5%) 0.75 948
    2019-12-01 $220,000 (-6.3%) $259,380 (-19.6%) 0.73 850
    2020-01-01 $219,900 (-6.4%) $261,329 (-17.9%) 0.73 836
    2020-02-01 $223,700 (-5.6%) $264,697 (-16.3%) 0.73 845
    2020-03-01 $220,950 (-7.6%) $270,241 (-15.7%) 0.69 862
    2020-04-01 $219,600 (-8.4%) $269,577 (-17.4%) 0.69 886
    2020-05-01 $220,990 (-8.6%) $273,204 (-18.5%) 0.67 866
    2020-06-01 $224,812 (-6.6%) $280,946 (-14.5%) 0.66 853
    2020-07-01 $224,775 (-6.1%) $284,137 (-12.0%) 0.65 837
    2020-08-01 $220,900 (-6.3%) $286,257 (-10.2%) 0.63 839
    2020-09-01 $221,225 (-4.8%) $285,808 (-10.0%) 0.63 674
    2020-10-01 $225,500 (-2.0%) $291,843 (-8.7%) 0.65 554
    2020-11-01 $228,858 (-0.5%) $282,198 (-11.4%) 0.67 507
    2020-12-01 $229,600 (4.4%) $278,805 (7.5%) 0.68 479
    2021-01-01 $234,500 (6.6%) $279,397 (6.9%) 0.70 449
    2021-02-01 $242,500 (8.4%) $294,010 (11.1%) 0.71 403
    2021-03-01 $238,450 (7.9%) $291,157 (7.7%) 0.68 364
    2021-04-01 $236,920 (7.9%) $289,688 (7.5%) 0.64 346
    2021-05-01 $231,999 (5.0%) $296,690 (8.6%) 0.62 307
    2021-06-01 $230,750 (2.6%) $294,126 (4.7%) 0.61 300
    2021-07-01 $234,200 (4.2%) $291,448 (2.6%) 0.62 343
    2021-08-01 $231,500 (4.8%) $292,828 (2.3%) 0.62 375
    2021-09-01 $231,500 (4.6%) $285,080 (-0.3%) 0.62 420
    2021-10-01 $224,900 (-0.3%) $278,038 (-4.7%) 0.60 465
    2021-11-01 $219,675 (-4.0%) $270,784 (-4.0%) 0.59 506
    2021-12-01 $216,375 (-5.8%) $262,106 (-6.0%) 0.59 524
    2022-01-01 $223,900 (-4.5%) $265,414 (-5.0%) 0.61 494
    2022-02-01 $218,075 (-10.1%) $266,044 (-9.5%) 0.57 487
    2022-03-01 $219,900 (-7.8%) $267,113 (-8.3%) 0.55 469
    2022-04-01 $218,900 (-7.6%) $279,878 (-3.4%) 0.52 467
    2022-05-01 $220,000 (-5.2%) $285,888 (-3.6%) 0.50 510
    2022-06-01 $237,100 (2.8%) $291,517 (-0.9%) 0.53 586
    2022-07-01 $239,900 (2.4%) $286,760 (-1.6%) 0.54 659
    2022-08-01 $234,225 (1.2%) $279,878 (-4.4%) 0.54 715
    2022-09-01 $229,500 (-0.9%) $273,866 (-3.9%) 0.54 757
    2022-10-01 $237,900 (5.8%) $277,279 (-0.3%) 0.56 821
    2022-11-01 $238,575 (8.6%) $274,424 (1.3%) 0.57 864
    2022-12-01 $235,000 (8.6%) $271,946 (3.8%) 0.58 878
    2023-01-01 $236,225 (5.5%) $276,139 (4.0%) 0.59 836
    2023-02-01 $229,475 (5.2%) $271,433 (2.0%) 0.55 815
    2023-03-01 $236,750 (7.7%) $281,413 (5.4%) 0.56 823
    2023-04-01 $235,000 (7.4%) $284,281 (1.6%) 0.55 811
    2023-05-01 $242,400 (10.2%) $294,189 (2.9%) 0.55 893
    2023-06-01 $249,450 (5.2%) $298,551 (2.4%) 0.56 876
    2023-07-01 $249,000 (3.8%) $293,884 (2.5%) 0.57 907
    2023-08-01 $241,350 (3.0%) $293,122 (4.7%) 0.55 921
    2023-09-01 $238,745 (4.0%) $287,317 (4.9%) 0.56 930
    2023-10-01 $239,200 (0.6%) $290,705 (4.8%) 0.56 921
    2023-11-01 $239,675 (0.5%) $288,707 (5.2%) 0.57 906
    2023-12-01 $239,999 (2.1%) $289,403 (6.4%) 0.59 888
    2024-01-01 $239,950 (1.6%) $289,436 (4.8%) 0.59 835
    2024-02-01 $244,400 (6.5%) $292,779 (7.9%) 0.59 882
    2024-03-01 $245,000 (3.5%) $298,297 (6.0%) 0.58 916
    Lake Charles's median listing price for 2024-03-01 was $245,000, a difference of $8,250 (3.5%) versus the prior year and $600 versus the prior month.

    Lake Charles's median listing price comes in at 58% of the national average.

    Lake Charles's average listing price for 2024-03-01 was $298,297, a difference of $16,884 (6.0%) versus the prior year and $5,518 versus the prior month.

    For the 2024-03-01 period, Lake Charles had 916 MLS listings, a difference of 34 listings (4%) versus the prior month and 93 listings (11%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lake Charles (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 84 days 1,961 sqft
    2018-02-01 88 days 1,928 sqft
    2018-03-01 80 days 1,940 sqft
    2018-04-01 71 days 1,946 sqft
    2018-05-01 69 days 1,996 sqft
    2018-06-01 69 days 2,000 sqft
    2018-07-01 74 days 1,982 sqft
    2018-08-01 79 days 2,007 sqft
    2018-09-01 81 days 1,984 sqft
    2018-10-01 79 days 1,991 sqft
    2018-11-01 83 days 1,985 sqft
    2018-12-01 87 days 1,982 sqft
    2019-01-01 90 days 1,983 sqft
    2019-02-01 94 days 1,986 sqft
    2019-03-01 82 days 1,991 sqft
    2019-04-01 75 days 2,009 sqft
    2019-05-01 76 days 2,021 sqft
    2019-06-01 76 days 2,017 sqft
    2019-07-01 79 days 2,009 sqft
    2019-08-01 79 days 1,998 sqft
    2019-09-01 81 days 1,989 sqft
    2019-10-01 82 days 1,993 sqft
    2019-11-01 88 days 2,000 sqft
    2019-12-01 89 days 1,890 sqft
    2020-01-01 91 days 1,877 sqft
    2020-02-01 92 days 1,889 sqft
    2020-03-01 71 days 1,889 sqft
    2020-04-01 78 days 1,882 sqft
    2020-05-01 80 days 1,894 sqft
    2020-06-01 81 days 1,900 sqft
    2020-07-01 77 days 1,899 sqft
    2020-08-01 75 days 1,900 sqft
    2020-09-01 86 days 1,900 sqft
    2020-10-01 98 days 1,900 sqft
    2020-11-01 100 days 1,900 sqft
    2020-12-01 67 days 1,898 sqft
    2021-01-01 70 days 1,899 sqft
    2021-02-01 60 days 1,897 sqft
    2021-03-01 58 days 1,880 sqft
    2021-04-01 55 days 1,886 sqft
    2021-05-01 53 days 1,889 sqft
    2021-06-01 52 days 1,893 sqft
    2021-07-01 47 days 1,886 sqft
    2021-08-01 51 days 1,892 sqft
    2021-09-01 53 days 1,886 sqft
    2021-10-01 58 days 1,858 sqft
    2021-11-01 65 days 1,842 sqft
    2021-12-01 69 days 1,813 sqft
    2022-01-01 72 days 1,825 sqft
    2022-02-01 62 days 1,812 sqft
    2022-03-01 57 days 1,834 sqft
    2022-04-01 54 days 1,810 sqft
    2022-05-01 52 days 1,841 sqft
    2022-06-01 53 days 1,876 sqft
    2022-07-01 54 days 1,902 sqft
    2022-08-01 60 days 1,889 sqft
    2022-09-01 64 days 1,885 sqft
    2022-10-01 70 days 1,880 sqft
    2022-11-01 77 days 1,877 sqft
    2022-12-01 89 days 1,875 sqft
    2023-01-01 97 days 1,882 sqft
    2023-02-01 97 days 1,852 sqft
    2023-03-01 92 days 1,881 sqft
    2023-04-01 78 days 1,875 sqft
    2023-05-01 72 days 1,880 sqft
    2023-06-01 78 days 1,895 sqft
    2023-07-01 80 days 1,895 sqft
    2023-08-01 78 days 1,880 sqft
    2023-09-01 78 days 1,875 sqft
    2023-10-01 85 days 1,882 sqft
    2023-11-01 90 days 1,857 sqft
    2023-12-01 94 days 1,860 sqft
    2024-01-01 102 days 1,867 sqft
    2024-02-01 94 days 1,876 sqft
    2024-03-01 80 days 1,880 sqft
    Lake Charles's median listing age (time on market) for 2024-03-01 was 80 days. This is -13% shorter than the same period one year ago.

    Lake Charles's median square footage for active listings during the 2024-03-01 period was 1,880 sqft. One year prior, the average listing was 1,881 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.