Lake City VA Loan Rates, Closing Costs & Stats

Lake City, FL

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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 City's 44 lenders originated 148 VA loans during 2023. The total origination value was $41,830,000, with an average VA loan value of $282,635.

    Lake City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Lake City averaged 0.2% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Lake City's average VA mortgage closing costs are $5,902.

    The average rate for the prior week (2024-11-08) was 6.31% and one month ago for the week of 2024-10-11, the average rate was 5.98%.

    The average rate one year ago was 7.57%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0%.

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

    Lake City 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 City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 29 6.79% $8,021
    MOVEMENT MORTGAGE, LLC 13 6.44% $9,321
    First Federal Bank 11 6.52% $6,833
    UNITED WHOLESALE MORTGAGE, LLC 10 6.83% $6,542
    QUICKEN LOANS, LLC 10 6.13% $9,457
    AMERICAN FINANCIAL NETWORK, INC. 6 7.04% $4,965
    FREEDOM MORTGAGE CORPORATION 4 6.31% $13,212
    NAVY FEDERAL CREDIT UNION 4 5.72% $3,373
    NEW DAY FINANCIAL, LLC 4 7.44% $18,010
    FBC MORTGAGE, LLC 4 5.75% $5,806
    CARDINAL FINANCIAL 3 6.12% $15,496
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.50% $5,746
    PENNYMAC LOAN SERVICES, LLC 2 5.75% $7,970
    Equity Prime Mortgage LLC 2 6.63% $8,151
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.81% $7,965
    Century Mortgage Company DBA Century Lending Company 2 6.13% $2,900
    AMERISAVE MORTGAGE CORPORATION 2 6.69% $3,195
    BROKER SOLUTIONS, INC. 2 7.00% $15,014
    GUILD MORTGAGE COMPANY 2 7.13% $7,589
    HomePromise Corporation 2 7.63% $9,806
    SUN WEST MORTGAGE COMPANY, INC. 1 7.25% $4,867
    THE MORTGAGE FIRM, INC. 1 6.00% $9,363
    UNION HOME MORTGAGE CORP. 1 6.25% $5,998
    AMERICAN BANCSHARES MORTGAGE 1 6.00% $16,472
    VYSTAR 1 6.38% $4,089
    Ameris Bank 1 6.13% $7,938
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.75% $6,632
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.25% $175
    Barrington Bank & Trust Company, N.A. 1 7.63% $25,580
    City National Bank of Florida 1 6.37% $11,479
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $1,874
    FIRST COMMUNITY MORTGAGE, INC. 1 6.99% $8,557
    Goldwater Bank, N.A. 1 9.63% $15,587
    GUARANTEED RATE, INC. 1 5.75% $7,937
    HOMESPIRE MORTGAGE CORPORATION 1 6.63% $3,483
    INSPIRE HOME LOANS INC. 1 5.25% $11,256
    JPMorgan Chase Bank 1 7.00% $1,788
    Mortgage Lenders Investment Trading Corporation 1 6.75% $13,868
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $20,895
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $5,803
    NFM, INC. 1 7.50% $4,770
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.63% $13,275
    RELIANCE FIRST CAPITAL, LLC 1 5.63% $19,853
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $25,433

    The top Lake City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 29 VA loans originated. Their average total fees are $8,021, which is $1,300 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Lake City VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($6,542), First Federal Bank ($6,833), Mortgage Research Center, LLC ($8,021), MOVEMENT MORTGAGE, LLC ($9,321) and QUICKEN LOANS, LLC ($9,457).

    The lowest rate Lake City VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.13%), MOVEMENT MORTGAGE, LLC (6.44%), First Federal Bank (6.52%), Mortgage Research Center, LLC (6.79%) and UNITED WHOLESALE MORTGAGE, LLC (6.83%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lake City (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 $209,225 (16.7%) $245,276 (11.8%) 0.00 228
    2018-02-01 $199,923 (11.1%) $236,901 (8.7%) 0.00 225
    2018-03-01 $202,450 (9.5%) $241,887 (9.5%) 0.00 226
    2018-04-01 $205,300 (8.1%) $252,286 (12.8%) 0.00 205
    2018-05-01 $199,675 (1.0%) $257,380 (12.5%) 0.00 203
    2018-06-01 $202,750 (6.0%) $270,349 (21.0%) 0.00 200
    2018-07-01 $200,675 (5.7%) $271,372 (23.4%) 0.00 193
    2018-08-01 $208,850 (7.1%) $263,909 (20.1%) 0.00 199
    2018-09-01 $215,000 (10.3%) $248,783 (11.4%) 0.00 211
    2018-10-01 $212,450 (9.0%) $254,753 (12.3%) 0.00 200
    2018-11-01 $212,500 (6.8%) $253,211 (9.0%) 0.00 218
    2018-12-01 $209,700 (2.3%) $253,459 (6.7%) 0.00 218
    2019-01-01 $202,200 (-3.4%) $256,258 (4.5%) 0.00 211
    2019-02-01 $204,450 (2.3%) $259,270 (9.4%) 0.00 212
    2019-03-01 $211,857 (4.7%) $262,026 (8.3%) 0.00 202
    2019-04-01 $215,000 (4.7%) $260,758 (3.4%) 0.00 198
    2019-05-01 $220,450 (10.4%) $273,340 (6.2%) 0.00 196
    2019-06-01 $224,900 (10.9%) $282,721 (4.6%) 0.00 184
    2019-07-01 $228,200 (13.7%) $283,619 (4.5%) 0.00 176
    2019-08-01 $229,900 (10.1%) $281,001 (6.5%) 0.00 181
    2019-09-01 $227,650 (5.9%) $277,119 (11.4%) 0.00 186
    2019-10-01 $228,150 (7.4%) $275,673 (8.2%) 0.00 185
    2019-11-01 $227,400 (7.0%) $275,716 (8.9%) 0.00 158
    2019-12-01 $236,900 (13.0%) $271,584 (7.2%) 0.00 143
    2020-01-01 $227,400 (12.5%) $263,759 (2.9%) 0.00 137
    2020-02-01 $222,500 (8.8%) $264,759 (2.1%) 0.00 151
    2020-03-01 $219,450 (3.6%) $250,191 (-4.5%) 0.00 158
    2020-04-01 $228,975 (6.5%) $257,860 (-1.1%) 0.00 146
    2020-05-01 $239,650 (8.7%) $267,072 (-2.3%) 0.00 143
    2020-06-01 $244,300 (8.6%) $276,865 (-2.1%) 0.00 136
    2020-07-01 $246,250 (7.9%) $292,044 (3.0%) 0.00 122
    2020-08-01 $245,900 (7.0%) $296,504 (5.5%) 0.00 120
    2020-09-01 $242,475 (6.5%) $286,649 (3.4%) 0.00 106
    2020-10-01 $260,000 (14.0%) $304,659 (10.5%) 0.00 108
    2020-11-01 $254,925 (12.1%) $300,856 (9.1%) 0.00 104
    2020-12-01 $258,225 (9.0%) $308,880 (13.7%) 0.00 99
    2021-01-01 $255,000 (12.1%) $294,546 (11.7%) 0.00 91
    2021-02-01 $264,925 (19.1%) $288,321 (8.9%) 0.00 81
    2021-03-01 $272,450 (24.2%) $306,573 (22.5%) 0.00 75
    2021-04-01 $274,925 (20.1%) $324,552 (25.9%) 0.00 68
    2021-05-01 $299,900 (25.1%) $349,189 (30.8%) 0.00 83
    2021-06-01 $298,963 (22.4%) $340,251 (22.9%) 0.00 93
    2021-07-01 $281,500 (14.3%) $326,110 (11.7%) 0.00 108
    2021-08-01 $282,081 (14.7%) $310,957 (4.9%) 0.00 110
    2021-09-01 $287,000 (18.4%) $321,561 (12.2%) 0.00 114
    2021-10-01 $284,500 (9.4%) $366,534 (20.3%) 0.00 109
    2021-11-01 $274,950 (7.9%) $363,434 (20.8%) 0.00 118
    2021-12-01 $272,450 (5.5%) $378,754 (22.6%) 0.00 112
    2022-01-01 $267,000 (4.7%) $402,356 (36.6%) 0.00 94
    2022-02-01 $289,225 (9.2%) $364,310 (26.4%) 0.00 79
    2022-03-01 $299,900 (10.1%) $369,842 (20.6%) 0.00 87
    2022-04-01 $290,445 (5.7%) $363,788 (12.1%) 0.00 96
    2022-05-01 $298,868 (-0.3%) $370,219 (6.0%) 0.00 112
    2022-06-01 $299,945 (0.3%) $370,678 (8.9%) 0.00 126
    2022-07-01 $315,000 (11.9%) $383,066 (17.5%) 0.00 148
    2022-08-01 $323,625 (14.7%) $385,472 (24.0%) 0.00 146
    2022-09-01 $330,975 (15.3%) $394,581 (22.7%) 0.00 154
    2022-10-01 $339,450 (19.3%) $385,544 (5.2%) 0.00 164
    2022-11-01 $325,975 (18.6%) $368,858 (1.5%) 0.00 165
    2022-12-01 $329,000 (20.8%) $366,548 (-3.2%) 0.00 176
    2023-01-01 $315,000 (18.0%) $366,752 (-8.9%) 0.00 156
    2023-02-01 $330,875 (14.4%) $376,103 (3.2%) 0.00 142
    2023-03-01 $333,813 (11.3%) $372,500 (0.7%) 0.00 140
    2023-04-01 $333,225 (14.7%) $385,380 (5.9%) 0.00 147
    2023-05-01 $339,450 (13.6%) $392,789 (6.1%) 0.00 137
    2023-06-01 $339,700 (13.3%) $390,671 (5.4%) 0.00 156
    2023-07-01 $371,950 (18.1%) $411,073 (7.3%) 0.00 156
    2023-08-01 $371,350 (14.8%) $428,261 (11.1%) 0.00 165
    2023-09-01 $369,925 (11.8%) $427,465 (8.3%) 0.00 166
    2023-10-01 $362,000 (6.6%) $417,389 (8.3%) 0.00 177
    2023-11-01 $345,338 (5.9%) $407,571 (10.5%) 0.00 192
    2023-12-01 $349,900 (6.4%) $412,161 (12.4%) 0.00 172
    2024-01-01 $351,975 (11.7%) $405,680 (10.6%) 0.00 162
    2024-02-01 $352,000 (6.4%) $407,471 (8.3%) 0.00 164
    2024-03-01 $375,000 (12.3%) $418,821 (12.4%) 0.00 159
    2024-04-01 $357,800 (7.4%) $436,544 (13.3%) 0.00 174
    2024-05-01 $367,925 (8.4%) $447,924 (14.0%) 0.00 172
    2024-06-01 $354,500 (4.4%) $434,271 (11.2%) 0.00 187
    2024-07-01 $332,500 (-10.6%) $420,185 (2.2%) 0.00 194
    2024-08-01 $350,000 (-5.8%) $428,896 (0.2%) 0.00 193
    2024-09-01 $349,950 (-5.4%) $416,419 (-2.6%) 0.00 189
    2024-10-01 $335,500 (-7.3%) $399,757 (-4.2%) 0.00 187
    Lake City's median listing price for 2024-10-01 was $335,500, a difference of $-26,500 (-7.3%) versus the prior year and $-14,450 versus the prior month.

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

    Lake City's average listing price for 2024-10-01 was $399,757, a difference of $-17,632 (-4.2%) versus the prior year and $-16,662 versus the prior month.

    For the 2024-10-01 period, Lake City had 187 MLS listings, a difference of -2 listings (-1%) versus the prior month and 10 listings (6%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lake City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,919 sqft
    2018-02-01 0 days 1,899 sqft
    2018-03-01 0 days 1,931 sqft
    2018-04-01 0 days 1,913 sqft
    2018-05-01 0 days 1,885 sqft
    2018-06-01 0 days 1,918 sqft
    2018-07-01 0 days 1,899 sqft
    2018-08-01 0 days 1,993 sqft
    2018-09-01 0 days 1,863 sqft
    2018-10-01 0 days 1,871 sqft
    2018-11-01 0 days 1,909 sqft
    2018-12-01 0 days 1,902 sqft
    2019-01-01 0 days 1,899 sqft
    2019-02-01 0 days 1,896 sqft
    2019-03-01 0 days 1,907 sqft
    2019-04-01 0 days 1,946 sqft
    2019-05-01 0 days 2,053 sqft
    2019-06-01 0 days 2,080 sqft
    2019-07-01 0 days 2,110 sqft
    2019-08-01 0 days 2,077 sqft
    2019-09-01 0 days 2,007 sqft
    2019-10-01 0 days 1,960 sqft
    2019-11-01 0 days 1,956 sqft
    2019-12-01 0 days 2,002 sqft
    2020-01-01 0 days 1,880 sqft
    2020-02-01 0 days 1,894 sqft
    2020-03-01 0 days 1,852 sqft
    2020-04-01 0 days 1,875 sqft
    2020-05-01 0 days 1,862 sqft
    2020-06-01 0 days 1,899 sqft
    2020-07-01 0 days 1,906 sqft
    2020-08-01 0 days 1,931 sqft
    2020-09-01 0 days 1,911 sqft
    2020-10-01 0 days 1,914 sqft
    2020-11-01 0 days 1,907 sqft
    2020-12-01 0 days 1,920 sqft
    2021-01-01 0 days 1,832 sqft
    2021-02-01 0 days 1,799 sqft
    2021-03-01 0 days 1,810 sqft
    2021-04-01 0 days 1,787 sqft
    2021-05-01 0 days 2,048 sqft
    2021-06-01 0 days 1,949 sqft
    2021-07-01 0 days 1,812 sqft
    2021-08-01 0 days 1,805 sqft
    2021-09-01 0 days 1,804 sqft
    2021-10-01 0 days 1,784 sqft
    2021-11-01 0 days 1,801 sqft
    2021-12-01 0 days 1,854 sqft
    2022-01-01 0 days 1,806 sqft
    2022-02-01 0 days 1,848 sqft
    2022-03-01 0 days 1,869 sqft
    2022-04-01 0 days 1,807 sqft
    2022-05-01 0 days 1,776 sqft
    2022-06-01 0 days 1,798 sqft
    2022-07-01 0 days 1,818 sqft
    2022-08-01 0 days 1,842 sqft
    2022-09-01 0 days 1,897 sqft
    2022-10-01 0 days 1,825 sqft
    2022-11-01 0 days 1,760 sqft
    2022-12-01 0 days 1,820 sqft
    2023-01-01 0 days 1,755 sqft
    2023-02-01 0 days 1,810 sqft
    2023-03-01 0 days 1,778 sqft
    2023-04-01 0 days 1,776 sqft
    2023-05-01 0 days 1,776 sqft
    2023-06-01 0 days 1,774 sqft
    2023-07-01 0 days 1,830 sqft
    2023-08-01 0 days 1,823 sqft
    2023-09-01 0 days 1,819 sqft
    2023-10-01 0 days 1,838 sqft
    2023-11-01 0 days 1,816 sqft
    2023-12-01 0 days 1,802 sqft
    2024-01-01 0 days 1,918 sqft
    2024-02-01 0 days 1,822 sqft
    2024-03-01 0 days 1,843 sqft
    2024-04-01 0 days 1,849 sqft
    2024-05-01 0 days 1,858 sqft
    2024-06-01 0 days 1,857 sqft
    2024-07-01 0 days 1,796 sqft
    2024-08-01 0 days 1,804 sqft
    2024-09-01 0 days 1,778 sqft
    2024-10-01 0 days 1,788 sqft
    Lake City's median listing age (time on market) for 2024-10-01 was 0 days.

    Lake City's median square footage for active listings during the 2024-10-01 period was 1,788 sqft. One year prior, the average listing was 1,838 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.