Little Rock VA Loans
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR
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.
Little Rock's 154 lenders originated 4,123 VA loans during 2021. The total origination value was $924,195,000, with an average VA loan value of $224,156.
Little Rock VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Little Rock
averaged
5.68%
for the week of 2022-05-20, compared to the national average (all VA variants) of
5.143% for the same period.
The average rate for the prior week (2022-05-13) was
5.39% and
one month ago for the week of 2022-04-15, the
average rate was 4.95%.
The average rate one year ago was 2.94%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.31%.
Little Rock 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 Little Rock level.
The top Little Rock VA lender as defined by loan originations is Mortgage Research Center, LLC, with
432 VA loans originated. Their average total fees are
$4,500, which is $310
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Little Rock VA lenders (with over 10 loans originated) are
FREEDOM MORTGAGE CORPORATION ($2,261), LAKEVIEW LOAN SERVICING, LLC ($2,366), PLANET HOME LENDING, LLC ($2,441), Carrington Mortgage Services, LLC ($2,528) and VILLAGE CAPITAL & INVESTMENT LLC ($2,544).
The lowest rate Little Rock VA lenders (with over 10 loans originated) are
ACCELERATE MORTGAGE, LLC (2.25%), PENTAGON FEDERAL CREDIT UNION (2.31%), CLEARPATH LENDING (2.32%), Low VA Rates, LLC (2.37%) and HOME POINT FINANCIAL CORPORATION (2.39%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Little Rock (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 | $173,250 (9.9%) | $242,988 (13.0%) | 0.64 | 2,916 |
2018-02-01 | $174,950 (9.7%) | $244,044 (12.4%) | 0.63 | 2,892 |
2018-03-01 | $179,900 (9.1%) | $243,616 (9.7%) | 0.62 | 2,914 |
2018-04-01 | $181,450 (10.0%) | $248,411 (10.2%) | 0.61 | 2,963 |
2018-05-01 | $185,000 (11.6%) | $255,155 (12.0%) | 0.62 | 3,117 |
2018-06-01 | $185,000 (9.3%) | $256,122 (10.2%) | 0.62 | 3,196 |
2018-07-01 | $185,500 (9.2%) | $252,159 (7.6%) | 0.62 | 3,297 |
2018-08-01 | $185,000 (8.9%) | $249,151 (6.5%) | 0.62 | 3,339 |
2018-09-01 | $185,000 (8.8%) | $250,211 (7.1%) | 0.62 | 3,396 |
2018-10-01 | $189,000 (11.2%) | $249,979 (7.6%) | 0.63 | 3,497 |
2018-11-01 | $185,500 (9.1%) | $249,375 (6.4%) | 0.62 | 3,330 |
2018-12-01 | $185,000 (8.8%) | $248,524 (4.3%) | 0.63 | 3,213 |
2019-01-01 | $182,750 (5.5%) | $247,374 (1.8%) | 0.63 | 3,076 |
2019-02-01 | $185,400 (6.0%) | $250,212 (2.5%) | 0.62 | 3,011 |
2019-03-01 | $192,214 (6.9%) | $256,891 (5.5%) | 0.63 | 2,955 |
2019-04-01 | $198,750 (9.5%) | $264,046 (6.3%) | 0.63 | 2,917 |
2019-05-01 | $199,900 (8.1%) | $270,808 (6.1%) | 0.62 | 2,912 |
2019-06-01 | $199,900 (8.1%) | $272,992 (6.6%) | 0.62 | 2,904 |
2019-07-01 | $199,900 (7.8%) | $274,045 (8.7%) | 0.62 | 2,852 |
2019-08-01 | $199,900 (8.1%) | $276,101 (10.8%) | 0.63 | 2,806 |
2019-09-01 | $199,900 (8.1%) | $275,548 (10.1%) | 0.63 | 2,749 |
2019-10-01 | $199,900 (5.8%) | $276,349 (10.6%) | 0.64 | 2,706 |
2019-11-01 | $199,900 (7.8%) | $272,560 (9.3%) | 0.65 | 2,642 |
2019-12-01 | $199,900 (8.1%) | $275,391 (10.8%) | 0.67 | 2,488 |
2020-01-01 | $199,400 (9.1%) | $277,123 (12.0%) | 0.66 | 2,322 |
2020-02-01 | $205,000 (10.6%) | $279,424 (11.7%) | 0.66 | 2,228 |
2020-03-01 | $213,450 (11.1%) | $282,463 (10.0%) | 0.67 | 2,179 |
2020-04-01 | $212,600 (7.0%) | $280,170 (6.1%) | 0.66 | 2,156 |
2020-05-01 | $229,000 (14.6%) | $292,566 (8.0%) | 0.69 | 1,900 |
2020-06-01 | $235,000 (17.6%) | $301,109 (10.3%) | 0.69 | 1,747 |
2020-07-01 | $232,493 (16.3%) | $307,236 (12.1%) | 0.67 | 1,650 |
2020-08-01 | $235,000 (17.6%) | $315,027 (14.1%) | 0.67 | 1,525 |
2020-09-01 | $235,000 (17.6%) | $317,304 (15.2%) | 0.67 | 1,424 |
2020-10-01 | $235,000 (17.6%) | $325,847 (17.9%) | 0.67 | 1,363 |
2020-11-01 | $235,000 (17.6%) | $326,271 (19.7%) | 0.67 | 1,281 |
2020-12-01 | $233,950 (17.0%) | $328,633 (19.3%) | 0.69 | 1,170 |
2021-01-01 | $227,900 (14.3%) | $332,075 (19.8%) | 0.67 | 960 |
2021-02-01 | $242,450 (18.3%) | $335,415 (20.0%) | 0.70 | 823 |
2021-03-01 | $249,450 (16.9%) | $343,411 (21.6%) | 0.70 | 744 |
2021-04-01 | $244,000 (14.8%) | $347,767 (24.1%) | 0.66 | 729 |
2021-05-01 | $234,500 (2.4%) | $336,656 (15.1%) | 0.62 | 708 |
2021-06-01 | $230,000 (-2.1%) | $330,835 (9.9%) | 0.60 | 779 |
2021-07-01 | $242,500 (4.3%) | $332,794 (8.3%) | 0.63 | 926 |
2021-08-01 | $244,450 (4.0%) | $330,906 (5.0%) | 0.64 | 1,056 |
2021-09-01 | $244,450 (4.0%) | $327,806 (3.3%) | 0.64 | 1,062 |
2021-10-01 | $240,000 (2.1%) | $324,431 (-0.4%) | 0.63 | 971 |
2021-11-01 | $227,500 (-3.2%) | $313,755 (-3.8%) | 0.60 | 950 |
2021-12-01 | $235,000 (0.5%) | $317,086 (-3.5%) | 0.63 | 862 |
2022-01-01 | $235,000 (3.1%) | $312,405 (-5.9%) | 0.63 | 753 |
2022-02-01 | $236,950 (-2.3%) | $330,705 (-1.4%) | 0.60 | 661 |
2022-03-01 | $249,950 (0.2%) | $361,387 (5.2%) | 0.62 | 666 |
2022-04-01 | $279,900 (14.7%) | $366,289 (5.3%) | 0.66 | 674 |
Little Rock's median listing price comes in at 66% of the national average.
Little Rock's average listing price for 2022-04-01 was $366,289, a difference of $18,522 (5.3%) versus the prior year and $4,902 versus the prior month.
For the 2022-04-01 period, Little Rock had 674 MLS listings, a difference of 8 listings (1%) versus the prior month and -55 listings (-8%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Little Rock (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 81 days | 1,888 sqft |
2018-02-01 | 70 days | 1,883 sqft |
2018-03-01 | 59 days | 1,902 sqft |
2018-04-01 | 59 days | 1,917 sqft |
2018-05-01 | 56 days | 1,937 sqft |
2018-06-01 | 57 days | 1,940 sqft |
2018-07-01 | 59 days | 1,936 sqft |
2018-08-01 | 60 days | 1,934 sqft |
2018-09-01 | 64 days | 1,914 sqft |
2018-10-01 | 67 days | 1,919 sqft |
2018-11-01 | 70 days | 1,906 sqft |
2018-12-01 | 77 days | 1,880 sqft |
2019-01-01 | 76 days | 1,879 sqft |
2019-02-01 | 67 days | 1,884 sqft |
2019-03-01 | 61 days | 1,926 sqft |
2019-04-01 | 57 days | 1,973 sqft |
2019-05-01 | 55 days | 1,991 sqft |
2019-06-01 | 59 days | 2,000 sqft |
2019-07-01 | 60 days | 2,006 sqft |
2019-08-01 | 63 days | 2,017 sqft |
2019-09-01 | 63 days | 2,011 sqft |
2019-10-01 | 63 days | 2,013 sqft |
2019-11-01 | 65 days | 1,998 sqft |
2019-12-01 | 70 days | 1,998 sqft |
2020-01-01 | 70 days | 1,988 sqft |
2020-02-01 | 55 days | 2,032 sqft |
2020-03-01 | 52 days | 2,067 sqft |
2020-04-01 | 57 days | 2,046 sqft |
2020-05-01 | 62 days | 2,108 sqft |
2020-06-01 | 54 days | 2,103 sqft |
2020-07-01 | 49 days | 2,106 sqft |
2020-08-01 | 43 days | 2,128 sqft |
2020-09-01 | 45 days | 2,119 sqft |
2020-10-01 | 45 days | 2,100 sqft |
2020-11-01 | 49 days | 2,096 sqft |
2020-12-01 | 54 days | 2,048 sqft |
2021-01-01 | 60 days | 2,057 sqft |
2021-02-01 | 48 days | 2,050 sqft |
2021-03-01 | 46 days | 2,000 sqft |
2021-04-01 | 36 days | 1,940 sqft |
2021-05-01 | 28 days | 1,890 sqft |
2021-06-01 | 28 days | 1,866 sqft |
2021-07-01 | 25 days | 1,959 sqft |
2021-08-01 | 35 days | 1,968 sqft |
2021-09-01 | 40 days | 1,956 sqft |
2021-10-01 | 44 days | 1,943 sqft |
2021-11-01 | 42 days | 1,894 sqft |
2021-12-01 | 47 days | 1,922 sqft |
2022-01-01 | 53 days | 1,930 sqft |
2022-02-01 | 45 days | 1,891 sqft |
2022-03-01 | 38 days | 1,888 sqft |
2022-04-01 | 29 days | 2,000 sqft |
Little Rock's median square footage for active listings during the 2022-04-01 period was 2,000 sqft. One year prior, the average listing was 1,940 sqft.