Lakeland VA Loan Rates, Closing Costs & Stats
LAKELAND-WINTER HAVEN, FL
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.
Lakeland's 209 lenders originated 3,891 VA loans during 2021. The total origination value was $989,495,000, with an average VA loan value of $254,304.
Lakeland VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Lakeland
averaged
6.93%
for the week of 2022-12-02, compared to the national average (all VA variants) of
6.292% for the same period.
Lakeland's average VA mortgage closing costs are $5,146.
The average rate for the prior week (2022-11-25) was
7.07% and
one month ago for the week of 2022-10-28, the
average rate was 7.15%.
The average rate one year ago was 3.63%.
For refis of the same type during the week of 2022-12-02, the average rate
was 6.46%.
Lakeland 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 Lakeland level.
The top Lakeland VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with
291 VA loans originated. Their average total fees are
$3,659, which is $1,448
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Lakeland VA lenders (with over 10 loans originated) are
HOMEAMERICAN MORTGAGE CORPORATION ($2,107), Lakeview Community Capital, LLC ($2,272), LAKEVIEW LOAN SERVICING, LLC ($2,352), Mr. Cooper ( Nationstar Mortgage ) ($2,627) and PENTAGON FEDERAL CREDIT UNION ($2,652).
The lowest rate Lakeland VA lenders (with over 10 loans originated) are
CLEARPATH LENDING (2.33%), PENTAGON FEDERAL CREDIT UNION (2.36%), VILLAGE CAPITAL MORTGAGE (2.37%), Low VA Rates, LLC (2.39%) and Lakeview Community Capital, LLC (2.44%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Lakeland (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 | $219,000 (9.5%) | $258,826 (8.0%) | 0.81 | 2,625 |
| 2018-02-01 | $219,900 (7.6%) | $259,826 (6.9%) | 0.80 | 2,645 |
| 2018-03-01 | $222,900 (8.8%) | $263,409 (7.6%) | 0.78 | 2,576 |
| 2018-04-01 | $224,950 (7.1%) | $273,667 (9.4%) | 0.76 | 2,501 |
| 2018-05-01 | $224,950 (4.7%) | $275,646 (9.3%) | 0.75 | 2,518 |
| 2018-06-01 | $225,000 (3.7%) | $275,270 (7.5%) | 0.75 | 2,535 |
| 2018-07-01 | $228,375 (4.5%) | $278,348 (7.9%) | 0.76 | 2,534 |
| 2018-08-01 | $227,425 (3.6%) | $276,628 (6.9%) | 0.76 | 2,663 |
| 2018-09-01 | $225,000 (2.4%) | $272,410 (5.2%) | 0.76 | 2,803 |
| 2018-10-01 | $224,900 (2.5%) | $271,597 (4.3%) | 0.76 | 2,887 |
| 2018-11-01 | $223,950 (1.5%) | $268,839 (2.6%) | 0.76 | 3,048 |
| 2018-12-01 | $224,000 (2.3%) | $266,613 (3.3%) | 0.77 | 3,041 |
| 2019-01-01 | $222,037 (1.4%) | $261,550 (1.1%) | 0.77 | 3,193 |
| 2019-02-01 | $224,450 (2.1%) | $260,096 (0.1%) | 0.76 | 3,320 |
| 2019-03-01 | $224,999 (0.9%) | $267,423 (1.5%) | 0.74 | 3,198 |
| 2019-04-01 | $225,000 (0.0%) | $273,442 (-0.1%) | 0.71 | 3,038 |
| 2019-05-01 | $229,450 (2.0%) | $276,605 (0.4%) | 0.72 | 2,880 |
| 2019-06-01 | $229,900 (2.2%) | $282,007 (2.5%) | 0.72 | 2,812 |
| 2019-07-01 | $229,281 (0.4%) | $286,463 (2.9%) | 0.72 | 2,814 |
| 2019-08-01 | $229,245 (0.8%) | $286,328 (3.5%) | 0.73 | 2,937 |
| 2019-09-01 | $229,614 (2.1%) | $280,242 (2.9%) | 0.73 | 3,023 |
| 2019-10-01 | $229,859 (2.2%) | $276,084 (1.7%) | 0.74 | 3,075 |
| 2019-11-01 | $228,900 (2.2%) | $273,354 (1.7%) | 0.75 | 3,040 |
| 2019-12-01 | $229,575 (2.5%) | $271,483 (1.8%) | 0.77 | 2,983 |
| 2020-01-01 | $229,950 (3.6%) | $273,454 (4.6%) | 0.77 | 2,922 |
| 2020-02-01 | $234,000 (4.3%) | $278,104 (6.9%) | 0.77 | 2,816 |
| 2020-03-01 | $234,900 (4.4%) | $281,131 (5.1%) | 0.74 | 2,698 |
| 2020-04-01 | $234,419 (4.2%) | $272,799 (-0.2%) | 0.73 | 2,880 |
| 2020-05-01 | $234,488 (2.2%) | $274,277 (-0.8%) | 0.71 | 2,730 |
| 2020-06-01 | $234,950 (2.2%) | $274,344 (-2.7%) | 0.69 | 2,460 |
| 2020-07-01 | $235,250 (2.6%) | $275,205 (-3.9%) | 0.68 | 2,326 |
| 2020-08-01 | $239,900 (4.7%) | $284,009 (-0.8%) | 0.69 | 2,085 |
| 2020-09-01 | $243,475 (6.0%) | $287,496 (2.6%) | 0.70 | 2,010 |
| 2020-10-01 | $245,000 (6.6%) | $285,825 (3.5%) | 0.70 | 2,028 |
| 2020-11-01 | $245,770 (7.4%) | $288,588 (5.6%) | 0.72 | 2,060 |
| 2020-12-01 | $249,450 (8.7%) | $290,147 (6.9%) | 0.74 | 1,935 |
| 2021-01-01 | $251,900 (9.6%) | $296,595 (8.5%) | 0.75 | 1,666 |
| 2021-02-01 | $252,258 (7.8%) | $301,332 (8.4%) | 0.73 | 1,365 |
| 2021-03-01 | $256,900 (9.4%) | $313,497 (11.5%) | 0.73 | 1,055 |
| 2021-04-01 | $264,950 (13.0%) | $326,162 (19.6%) | 0.72 | 891 |
| 2021-05-01 | $274,900 (17.2%) | $346,663 (26.4%) | 0.73 | 784 |
| 2021-06-01 | $282,450 (20.2%) | $362,390 (32.1%) | 0.74 | 815 |
| 2021-07-01 | $285,000 (21.2%) | $354,801 (28.9%) | 0.75 | 1,016 |
| 2021-08-01 | $295,330 (23.1%) | $356,201 (25.4%) | 0.79 | 1,087 |
| 2021-09-01 | $307,470 (26.3%) | $371,827 (29.3%) | 0.82 | 1,101 |
| 2021-10-01 | $319,368 (30.4%) | $378,883 (32.6%) | 0.85 | 1,132 |
| 2021-11-01 | $317,000 (29.0%) | $379,247 (31.4%) | 0.85 | 1,111 |
| 2021-12-01 | $327,450 (31.3%) | $393,617 (35.7%) | 0.89 | 1,049 |
| 2022-01-01 | $325,000 (29.0%) | $400,510 (35.0%) | 0.88 | 943 |
| 2022-02-01 | $330,645 (31.1%) | $410,130 (36.1%) | 0.86 | 865 |
| 2022-03-01 | $341,280 (32.9%) | $415,321 (32.5%) | 0.85 | 894 |
| 2022-04-01 | $350,000 (32.1%) | $429,547 (31.7%) | 0.84 | 938 |
| 2022-05-01 | $363,750 (32.3%) | $429,257 (23.8%) | 0.83 | 1,271 |
| 2022-06-01 | $369,500 (30.8%) | $429,663 (18.6%) | 0.82 | 1,597 |
| 2022-07-01 | $365,000 (28.1%) | $414,131 (16.7%) | 0.83 | 2,182 |
| 2022-08-01 | $364,000 (23.3%) | $414,327 (16.3%) | 0.84 | 2,569 |
| 2022-09-01 | $359,995 (17.1%) | $409,611 (10.2%) | 0.84 | 2,749 |
| 2022-10-01 | $359,900 (12.7%) | $408,018 (7.7%) | 0.85 | 2,823 |
| 2022-11-01 | $351,000 (10.7%) | $399,938 (5.5%) | 0.84 | 3,106 |
Lakeland's median listing price comes in at 84% of the national average.
Lakeland's average listing price for 2022-11-01 was $399,938, a difference of $20,691 (5.5%) versus the prior year and $-8,080 versus the prior month.
For the 2022-11-01 period, Lakeland had 3,106 MLS listings, a difference of 283 listings (10%) versus the prior month and 1,995 listings (180%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Lakeland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 72 days | 1,884 sqft |
| 2018-02-01 | 70 days | 1,879 sqft |
| 2018-03-01 | 62 days | 1,883 sqft |
| 2018-04-01 | 60 days | 1,918 sqft |
| 2018-05-01 | 62 days | 1,912 sqft |
| 2018-06-01 | 61 days | 1,912 sqft |
| 2018-07-01 | 62 days | 1,919 sqft |
| 2018-08-01 | 58 days | 1,919 sqft |
| 2018-09-01 | 59 days | 1,884 sqft |
| 2018-10-01 | 62 days | 1,864 sqft |
| 2018-11-01 | 62 days | 1,860 sqft |
| 2018-12-01 | 67 days | 1,856 sqft |
| 2019-01-01 | 72 days | 1,848 sqft |
| 2019-02-01 | 63 days | 1,838 sqft |
| 2019-03-01 | 61 days | 1,847 sqft |
| 2019-04-01 | 64 days | 1,847 sqft |
| 2019-05-01 | 67 days | 1,854 sqft |
| 2019-06-01 | 67 days | 1,877 sqft |
| 2019-07-01 | 65 days | 1,855 sqft |
| 2019-08-01 | 66 days | 1,845 sqft |
| 2019-09-01 | 66 days | 1,836 sqft |
| 2019-10-01 | 67 days | 1,829 sqft |
| 2019-11-01 | 65 days | 1,828 sqft |
| 2019-12-01 | 71 days | 1,828 sqft |
| 2020-01-01 | 73 days | 1,828 sqft |
| 2020-02-01 | 73 days | 1,830 sqft |
| 2020-03-01 | 61 days | 1,836 sqft |
| 2020-04-01 | 61 days | 1,828 sqft |
| 2020-05-01 | 71 days | 1,828 sqft |
| 2020-06-01 | 80 days | 1,828 sqft |
| 2020-07-01 | 70 days | 1,818 sqft |
| 2020-08-01 | 62 days | 1,821 sqft |
| 2020-09-01 | 57 days | 1,814 sqft |
| 2020-10-01 | 54 days | 1,786 sqft |
| 2020-11-01 | 51 days | 1,802 sqft |
| 2020-12-01 | 58 days | 1,814 sqft |
| 2021-01-01 | 65 days | 1,813 sqft |
| 2021-02-01 | 60 days | 1,781 sqft |
| 2021-03-01 | 48 days | 1,806 sqft |
| 2021-04-01 | 43 days | 1,806 sqft |
| 2021-05-01 | 41 days | 1,798 sqft |
| 2021-06-01 | 36 days | 1,805 sqft |
| 2021-07-01 | 35 days | 1,793 sqft |
| 2021-08-01 | 37 days | 1,807 sqft |
| 2021-09-01 | 37 days | 1,804 sqft |
| 2021-10-01 | 37 days | 1,821 sqft |
| 2021-11-01 | 40 days | 1,801 sqft |
| 2021-12-01 | 52 days | 1,818 sqft |
| 2022-01-01 | 44 days | 1,814 sqft |
| 2022-02-01 | 34 days | 1,804 sqft |
| 2022-03-01 | 33 days | 1,779 sqft |
| 2022-04-01 | 31 days | 1,798 sqft |
| 2022-05-01 | 29 days | 1,823 sqft |
| 2022-06-01 | 31 days | 1,826 sqft |
| 2022-07-01 | 35 days | 1,820 sqft |
| 2022-08-01 | 38 days | 1,823 sqft |
| 2022-09-01 | 45 days | 1,827 sqft |
| 2022-10-01 | 56 days | 1,828 sqft |
| 2022-11-01 | 62 days | 1,820 sqft |
Lakeland's median square footage for active listings during the 2022-11-01 period was 1,820 sqft. One year prior, the average listing was 1,801 sqft.
