London VA Loan Rates, Closing Costs & Stats

London, KY

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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.

    London's 30 lenders originated 116 VA loans during 2023. The total origination value was $29,080,000, with an average VA loan value of $250,690.

    London VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in London averaged 7.14% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    London's average VA mortgage closing costs are $4,585.

    The average rate for the prior week (2024-04-12) was 6.67% and one month ago for the week of 2024-03-15, the average rate was 6.83%.

    The average rate one year ago was 6.22%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    London 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 London level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 39 6.79% $4,165
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 13 6.68% $6,250
    UNITED WHOLESALE MORTGAGE, LLC 10 6.54% $4,148
    QUICKEN LOANS, LLC 9 6.27% $7,166
    NAVY FEDERAL CREDIT UNION 6 5.83% $4,945
    POLARIS HOME FUNDING CORP. 5 6.25% $6,340
    USAA Federal Savings Bank 4 5.81% $11,139
    NEW DAY FINANCIAL, LLC 2 7.37% $10,919
    CARDINAL FINANCIAL 2 6.75% $7,730
    LOANDEPOT.COM, LLC 2 5.69% $11,566
    Equity Prime Mortgage LLC 2 6.31% $6,960
    Flagstar Bank, FSB 2 6.75% $6,569
    U.S. Bank 2 6.75% $4,632
    The Federal Savings Bank 1 6.25% $9,748
    The Loan Store, Inc. 1 7.13% $3,444
    VILLAGE CAPITAL MORTGAGE 1 5.38% $5,006
    Waterstone Mortgage Corporation 1 5.63% $11,998
    Wells Fargo Bank 1 5.38% $17,281
    AXIA FINANCIAL, LLC 1 7.25% $2,295
    CMG MORTGAGE, INC. 1 6.25% $15,332
    CROSSCOUNTRY MORTGAGE, LLC 1 7.13% $5,746
    FREEDOM MORTGAGE CORPORATION 1 6.13% $1,288
    Magnolia Bank 1 5.75% $6,842
    Mr. Cooper ( Nationstar Mortgage ) 1 7.13% $19,575
    Paramount Residential Mortgage Group, Inc. 1 6.75% $7,513
    PENNYMAC LOAN SERVICES, LLC 1 6.25% $4,874
    Plains Commerce Bank 1 6.75% $2,095
    RELIANCE FIRST CAPITAL, LLC 1 7.25% $10,138
    Republic State Mortgage Co. 1 6.13% $3,355
    ROSS MORTGAGE CORPORATION 1 6.63% $13,710

    The top London VA lender as defined by loan originations is Mortgage Research Center, LLC, with 39 VA loans originated. Their average total fees are $4,165, which is $2,086 lower than the next largest lender, ARK-LA-TEX FINANCIAL SERVICES, LLC..

    The lowest fee London VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($4,148), Mortgage Research Center, LLC ($4,165), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($6,250), .

    The lowest rate London VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.54%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (6.68%), Mortgage Research Center, LLC (6.79%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - London (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 $148,950 (6.5%) $186,648 (-0.9%) 0.00 363
    2018-02-01 $146,475 (4.7%) $189,005 (0.1%) 0.00 358
    2018-03-01 $154,900 (8.6%) $195,891 (1.1%) 0.00 350
    2018-04-01 $159,000 (10.3%) $197,336 (-1.6%) 0.00 348
    2018-05-01 $159,250 (6.3%) $204,221 (1.4%) 0.00 359
    2018-06-01 $159,900 (6.6%) $206,199 (-1.3%) 0.00 377
    2018-07-01 $159,925 (4.5%) $206,451 (1.1%) 0.00 382
    2018-08-01 $162,450 (8.4%) $205,031 (4.2%) 0.00 373
    2018-09-01 $159,900 (6.7%) $200,526 (1.0%) 0.00 375
    2018-10-01 $159,900 (6.6%) $198,519 (1.7%) 0.00 382
    2018-11-01 $159,900 (6.6%) $194,745 (0.5%) 0.00 381
    2018-12-01 $159,900 (6.7%) $191,435 (-0.8%) 0.00 341
    2019-01-01 $161,975 (8.7%) $192,305 (3.0%) 0.00 314
    2019-02-01 $164,925 (12.6%) $195,312 (3.3%) 0.00 319
    2019-03-01 $168,214 (8.6%) $199,804 (2.0%) 0.00 312
    2019-04-01 $168,464 (6.0%) $201,271 (2.0%) 0.00 307
    2019-05-01 $169,950 (6.7%) $203,727 (-0.2%) 0.00 306
    2019-06-01 $169,900 (6.3%) $207,714 (0.7%) 0.00 327
    2019-07-01 $169,450 (6.0%) $203,017 (-1.7%) 0.00 344
    2019-08-01 $169,900 (4.6%) $202,133 (-1.4%) 0.00 336
    2019-09-01 $169,900 (6.3%) $199,216 (-0.7%) 0.00 339
    2019-10-01 $169,900 (6.3%) $198,019 (-0.3%) 0.00 339
    2019-11-01 $169,900 (6.3%) $201,897 (3.7%) 0.00 327
    2019-12-01 $169,900 (6.3%) $200,420 (4.7%) 0.00 312
    2020-01-01 $166,600 (2.9%) $200,222 (4.1%) 0.00 283
    2020-02-01 $169,000 (2.5%) $208,508 (6.8%) 0.00 261
    2020-03-01 $170,900 (1.6%) $211,566 (5.9%) 0.00 227
    2020-04-01 $172,400 (2.3%) $210,376 (4.5%) 0.00 217
    2020-05-01 $189,900 (11.7%) $225,155 (10.5%) 0.00 193
    2020-06-01 $199,450 (17.4%) $231,790 (11.6%) 0.00 182
    2020-07-01 $202,475 (19.5%) $237,344 (16.9%) 0.00 173
    2020-08-01 $200,000 (17.7%) $237,585 (17.5%) 0.00 175
    2020-09-01 $199,900 (17.7%) $238,228 (19.6%) 0.00 178
    2020-10-01 $189,900 (11.8%) $227,376 (14.8%) 0.00 171
    2020-11-01 $189,900 (11.8%) $225,011 (11.5%) 0.00 154
    2020-12-01 $186,825 (10.0%) $223,679 (11.6%) 0.00 143
    2021-01-01 $179,500 (7.7%) $219,988 (9.9%) 0.00 123
    2021-02-01 $181,825 (7.6%) $221,433 (6.2%) 0.00 102
    2021-03-01 $184,000 (7.7%) $221,169 (4.5%) 0.00 103
    2021-04-01 $187,325 (8.7%) $243,392 (15.7%) 0.00 92
    2021-05-01 $199,000 (4.8%) $245,392 (9.0%) 0.00 104
    2021-06-01 $209,900 (5.2%) $262,573 (13.3%) 0.00 130
    2021-07-01 $209,000 (3.2%) $264,802 (11.6%) 0.00 145
    2021-08-01 $214,950 (7.5%) $267,264 (12.5%) 0.00 161
    2021-09-01 $224,675 (12.4%) $273,409 (14.8%) 0.00 169
    2021-10-01 $229,450 (20.8%) $287,946 (26.6%) 0.00 164
    2021-11-01 $237,500 (25.1%) $298,392 (32.6%) 0.00 155
    2021-12-01 $227,000 (21.5%) $277,516 (24.1%) 0.00 137
    2022-01-01 $225,000 (25.4%) $269,191 (22.4%) 0.00 122
    2022-02-01 $217,000 (19.4%) $260,859 (17.8%) 0.00 115
    2022-03-01 $225,875 (22.8%) $257,331 (16.4%) 0.00 103
    2022-04-01 $234,900 (25.4%) $274,760 (12.9%) 0.00 127
    2022-05-01 $237,475 (19.3%) $289,352 (17.9%) 0.00 187
    2022-06-01 $249,450 (18.8%) $285,418 (8.7%) 0.00 205
    2022-07-01 $259,000 (23.9%) $284,865 (7.6%) 0.00 235
    2022-08-01 $249,950 (16.3%) $284,922 (6.6%) 0.00 250
    2022-09-01 $250,975 (11.7%) $288,277 (5.4%) 0.00 238
    2022-10-01 $249,450 (8.7%) $283,806 (-1.4%) 0.00 248
    2022-11-01 $249,900 (5.2%) $277,634 (-7.0%) 0.00 248
    2022-12-01 $239,900 (5.7%) $270,666 (-2.5%) 0.00 220
    2023-01-01 $245,000 (8.9%) $285,498 (6.1%) 0.00 203
    2023-02-01 $246,225 (13.5%) $295,729 (13.4%) 0.00 192
    2023-03-01 $242,450 (7.3%) $298,623 (16.1%) 0.00 195
    2023-04-01 $240,000 (2.2%) $302,997 (10.3%) 0.00 198
    2023-05-01 $238,225 (0.3%) $302,398 (4.5%) 0.00 204
    2023-06-01 $247,750 (-0.7%) $310,325 (8.7%) 0.00 205
    2023-07-01 $240,000 (-7.3%) $310,642 (9.1%) 0.00 213
    2023-08-01 $249,900 (0.0%) $318,542 (11.8%) 0.00 223
    2023-09-01 $239,900 (-4.4%) $302,072 (4.8%) 0.00 227
    2023-10-01 $243,650 (-2.3%) $299,898 (5.7%) 0.00 227
    2023-11-01 $249,925 (0.0%) $304,908 (9.8%) 0.00 229
    2023-12-01 $249,000 (3.8%) $307,459 (13.6%) 0.00 233
    2024-01-01 $239,900 (-2.1%) $288,359 (1.0%) 0.00 228
    2024-02-01 $246,750 (0.2%) $290,063 (-1.9%) 0.00 226
    2024-03-01 $244,900 (1.0%) $293,623 (-1.7%) 0.00 247
    London's median listing price for 2024-03-01 was $244,900, a difference of $2,450 (1.0%) versus the prior year and $-1,850 versus the prior month.

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

    London's average listing price for 2024-03-01 was $293,623, a difference of $-5,000 (-1.7%) versus the prior year and $3,560 versus the prior month.

    For the 2024-03-01 period, London had 247 MLS listings, a difference of 21 listings (9%) versus the prior month and 52 listings (27%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - London (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,785 sqft
    2018-02-01 0 days 1,743 sqft
    2018-03-01 0 days 1,794 sqft
    2018-04-01 0 days 1,799 sqft
    2018-05-01 0 days 1,800 sqft
    2018-06-01 0 days 1,800 sqft
    2018-07-01 0 days 1,879 sqft
    2018-08-01 0 days 1,926 sqft
    2018-09-01 0 days 1,900 sqft
    2018-10-01 0 days 1,855 sqft
    2018-11-01 0 days 1,850 sqft
    2018-12-01 0 days 1,823 sqft
    2019-01-01 0 days 1,845 sqft
    2019-02-01 0 days 1,866 sqft
    2019-03-01 0 days 1,844 sqft
    2019-04-01 0 days 1,858 sqft
    2019-05-01 0 days 1,898 sqft
    2019-06-01 0 days 1,900 sqft
    2019-07-01 0 days 1,838 sqft
    2019-08-01 0 days 1,858 sqft
    2019-09-01 0 days 1,843 sqft
    2019-10-01 0 days 1,861 sqft
    2019-11-01 0 days 1,849 sqft
    2019-12-01 0 days 1,900 sqft
    2020-01-01 0 days 1,847 sqft
    2020-02-01 0 days 1,800 sqft
    2020-03-01 0 days 1,871 sqft
    2020-04-01 0 days 1,790 sqft
    2020-05-01 0 days 1,882 sqft
    2020-06-01 0 days 1,962 sqft
    2020-07-01 0 days 2,037 sqft
    2020-08-01 0 days 2,064 sqft
    2020-09-01 0 days 2,058 sqft
    2020-10-01 0 days 1,914 sqft
    2020-11-01 0 days 1,941 sqft
    2020-12-01 0 days 1,849 sqft
    2021-01-01 0 days 1,849 sqft
    2021-02-01 0 days 1,817 sqft
    2021-03-01 0 days 1,752 sqft
    2021-04-01 0 days 1,811 sqft
    2021-05-01 0 days 1,754 sqft
    2021-06-01 0 days 1,834 sqft
    2021-07-01 0 days 1,890 sqft
    2021-08-01 0 days 1,930 sqft
    2021-09-01 0 days 1,910 sqft
    2021-10-01 0 days 1,947 sqft
    2021-11-01 0 days 1,945 sqft
    2021-12-01 0 days 1,769 sqft
    2022-01-01 0 days 1,695 sqft
    2022-02-01 0 days 1,685 sqft
    2022-03-01 0 days 1,685 sqft
    2022-04-01 0 days 1,728 sqft
    2022-05-01 0 days 1,755 sqft
    2022-06-01 0 days 1,795 sqft
    2022-07-01 0 days 1,814 sqft
    2022-08-01 0 days 1,844 sqft
    2022-09-01 0 days 1,880 sqft
    2022-10-01 0 days 1,890 sqft
    2022-11-01 0 days 1,816 sqft
    2022-12-01 0 days 1,750 sqft
    2023-01-01 0 days 1,744 sqft
    2023-02-01 0 days 1,700 sqft
    2023-03-01 0 days 1,728 sqft
    2023-04-01 0 days 1,789 sqft
    2023-05-01 0 days 1,763 sqft
    2023-06-01 0 days 1,803 sqft
    2023-07-01 0 days 1,792 sqft
    2023-08-01 0 days 1,783 sqft
    2023-09-01 0 days 1,748 sqft
    2023-10-01 0 days 1,767 sqft
    2023-11-01 0 days 1,801 sqft
    2023-12-01 0 days 1,850 sqft
    2024-01-01 0 days 1,781 sqft
    2024-02-01 0 days 1,738 sqft
    2024-03-01 0 days 1,710 sqft
    London's median listing age (time on market) for 2024-03-01 was 0 days.

    London's median square footage for active listings during the 2024-03-01 period was 1,710 sqft. One year prior, the average listing was 1,728 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.