Madisonville VA Loan Rates, Closing Costs & Stats

Madisonville, KY

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.

Madisonville's 26 lenders originated 81 VA loans during 2023. The total origination value was $17,185,000, with an average VA loan value of $212,160.

Madisonville VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Madisonville averaged 0.33% for the week of 2024-11-29, compared to the national average (all VA variants) of 0% for the same period.

Madisonville's average VA mortgage closing costs are $4,331.

The average rate for the prior week (2024-11-22) was 6.49% and one month ago for the week of 2024-10-25, the average rate was 6.29%.

The average rate one year ago was 7.33%.

For refis of the same type during the week of 2024-11-29, the average rate was 0.1%.

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

Madisonville 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 Madisonville level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 30 6.79% $4,803
QUICKEN LOANS, LLC 6 6.33% $7,358
NEW DAY FINANCIAL, LLC 4 7.50% $6,518
UNITED WHOLESALE MORTGAGE, LLC 4 7.19% $4,016
NAVY FEDERAL CREDIT UNION 3 5.42% $8,315
PENNYMAC LOAN SERVICES, LLC 3 5.25% $11,511
FREEDOM MORTGAGE CORPORATION 3 7.25% $4,600
U.S. Bank 2 6.69% $8,358
EVANSVILLE TEACHERS 2 6.63% $5,386
MOVEMENT MORTGAGE, LLC 1 6.75% $9,083
AMERISAVE MORTGAGE CORPORATION 1 5.25% $9,967
NBKC BANK 1 6.50% $6,574
NFM, INC. 1 7.13% $4,323
Northpointe Bank 1 6.38% $550
PLAZA HOME MORTGAGE, INC. 1 7.25% $11,086
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $179
STOCKTON MORTGAGE CORPORATION 1 7.25% $2,394
Mr. Cooper ( Nationstar Mortgage ) 1 5.25% $13,344
BROKER SOLUTIONS, INC. 1 7.63% $6,262
CRESCENT MORTGAGE COMPANY 1 6.63% $0
Fifth Third Bank 1 6.38% $17,494
FIRST COMMUNITY MORTGAGE, INC. 1 5.50% $12,200
FirstTrust Home Loans, Inc. 1 7.13% $9,369
Fortera Federal Credit Union 1 7.25% $3,572
GERSHMAN INVESTMENT CORP. 1 6.50% $6,733
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $5,754

The top Madisonville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 30 VA loans originated. Their average total fees are $4,803, which is $2,555 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Madisonville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,803), .

The lowest rate Madisonville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.79%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Madisonville (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 $137,200 (9.9%) $161,739 (5.0%) 0.00 170
2018-02-01 $139,900 (16.7%) $167,569 (3.8%) 0.00 163
2018-03-01 $149,900 (11.5%) $176,668 (7.5%) 0.00 157
2018-04-01 $147,450 (15.2%) $170,911 (7.2%) 0.00 155
2018-05-01 $144,950 (10.9%) $167,291 (4.2%) 0.00 160
2018-06-01 $142,250 (3.9%) $177,519 (-4.6%) 0.00 168
2018-07-01 $136,400 (-0.8%) $180,923 (-2.9%) 0.00 183
2018-08-01 $138,700 (2.3%) $184,886 (16.8%) 0.00 202
2018-09-01 $134,900 (-2.6%) $169,969 (4.1%) 0.00 194
2018-10-01 $129,900 (-1.9%) $160,920 (2.6%) 0.00 196
2018-11-01 $129,900 (-1.0%) $162,806 (4.7%) 0.00 190
2018-12-01 $129,900 (-2.3%) $166,775 (4.4%) 0.00 182
2019-01-01 $128,550 (-6.3%) $166,942 (3.2%) 0.00 175
2019-02-01 $133,325 (-4.7%) $169,273 (1.0%) 0.00 159
2019-03-01 $134,186 (-10.5%) $170,013 (-3.8%) 0.00 150
2019-04-01 $139,900 (-5.1%) $176,771 (3.4%) 0.00 147
2019-05-01 $142,900 (-1.4%) $186,541 (11.5%) 0.00 149
2019-06-01 $148,900 (4.7%) $180,867 (1.9%) 0.00 157
2019-07-01 $138,650 (1.7%) $173,994 (-3.8%) 0.00 166
2019-08-01 $133,536 (-3.7%) $174,895 (-5.4%) 0.00 168
2019-09-01 $131,491 (-2.5%) $174,667 (2.8%) 0.00 175
2019-10-01 $129,900 (0.0%) $173,535 (7.8%) 0.00 182
2019-11-01 $128,200 (-1.3%) $169,235 (4.0%) 0.00 179
2019-12-01 $128,050 (-1.4%) $167,729 (0.6%) 0.00 159
2020-01-01 $128,500 (0.0%) $165,305 (-1.0%) 0.00 152
2020-02-01 $129,900 (-2.6%) $168,644 (-0.4%) 0.00 154
2020-03-01 $129,900 (-3.2%) $160,533 (-5.6%) 0.00 138
2020-04-01 $129,900 (-7.2%) $165,347 (-6.5%) 0.00 133
2020-05-01 $121,900 (-14.7%) $167,467 (-10.2%) 0.00 123
2020-06-01 $126,850 (-14.8%) $179,876 (-0.6%) 0.00 113
2020-07-01 $131,175 (-5.4%) $189,209 (8.7%) 0.00 117
2020-08-01 $127,500 (-4.5%) $185,644 (6.2%) 0.00 107
2020-09-01 $138,400 (5.3%) $196,665 (12.6%) 0.00 97
2020-10-01 $119,950 (-7.7%) $173,405 (-0.1%) 0.00 101
2020-11-01 $122,450 (-4.5%) $182,860 (8.1%) 0.00 90
2020-12-01 $128,075 (0.0%) $174,836 (4.2%) 0.00 97
2021-01-01 $134,900 (5.0%) $177,878 (7.6%) 0.00 89
2021-02-01 $130,650 (0.6%) $190,315 (12.9%) 0.00 69
2021-03-01 $130,675 (0.6%) $198,463 (23.6%) 0.00 58
2021-04-01 $137,400 (5.8%) $196,775 (19.0%) 0.00 41
2021-05-01 $174,900 (43.5%) $203,824 (21.7%) 0.00 35
2021-06-01 $152,250 (20.0%) $195,197 (8.5%) 0.00 39
2021-07-01 $174,900 (33.3%) $245,858 (29.9%) 0.00 51
2021-08-01 $169,900 (33.3%) $256,185 (38.0%) 0.00 57
2021-09-01 $179,450 (29.7%) $243,148 (23.6%) 0.00 68
2021-10-01 $189,900 (58.3%) $242,420 (39.8%) 0.00 70
2021-11-01 $174,900 (42.8%) $221,446 (21.1%) 0.00 71
2021-12-01 $164,900 (28.8%) $199,507 (14.1%) 0.00 67
2022-01-01 $166,700 (23.6%) $215,032 (20.9%) 0.00 49
2022-02-01 $169,900 (30.0%) $212,127 (11.5%) 0.00 45
2022-03-01 $159,900 (22.4%) $217,090 (9.4%) 0.00 40
2022-04-01 $164,900 (20.0%) $218,682 (11.1%) 0.00 34
2022-05-01 $186,400 (6.6%) $282,768 (38.7%) 0.00 40
2022-06-01 $204,950 (34.6%) $262,582 (34.5%) 0.00 46
2022-07-01 $199,900 (14.3%) $247,321 (0.6%) 0.00 64
2022-08-01 $199,900 (17.7%) $252,059 (-1.6%) 0.00 70
2022-09-01 $203,650 (13.5%) $259,430 (6.7%) 0.00 82
2022-10-01 $214,900 (13.2%) $249,390 (2.9%) 0.00 84
2022-11-01 $192,400 (10.0%) $236,040 (6.6%) 0.00 87
2022-12-01 $189,900 (15.2%) $241,723 (21.2%) 0.00 80
2023-01-01 $180,000 (8.0%) $237,723 (10.6%) 0.00 74
2023-02-01 $184,900 (8.8%) $244,877 (15.4%) 0.00 62
2023-03-01 $187,475 (17.3%) $251,325 (15.8%) 0.00 53
2023-04-01 $204,750 (24.2%) $238,444 (9.0%) 0.00 63
2023-05-01 $204,950 (10.0%) $242,181 (-14.4%) 0.00 60
2023-06-01 $206,050 (0.5%) $239,453 (-8.8%) 0.00 60
2023-07-01 $225,000 (12.6%) $235,332 (-4.9%) 0.00 72
2023-08-01 $220,425 (10.3%) $265,696 (5.4%) 0.00 73
2023-09-01 $188,700 (-7.3%) $255,740 (-1.4%) 0.00 72
2023-10-01 $208,450 (-3.0%) $283,756 (13.8%) 0.00 71
2023-11-01 $207,925 (8.1%) $291,018 (23.3%) 0.00 79
2023-12-01 $212,000 (11.6%) $301,853 (24.9%) 0.00 76
2024-01-01 $224,675 (24.8%) $308,430 (29.7%) 0.00 71
2024-02-01 $196,850 (6.5%) $295,007 (20.5%) 0.00 67
2024-03-01 $210,950 (12.5%) $316,464 (25.9%) 0.00 66
2024-04-01 $218,650 (6.8%) $311,391 (30.6%) 0.00 91
2024-05-01 $219,900 (7.3%) $309,076 (27.6%) 0.00 90
2024-06-01 $209,900 (1.9%) $306,402 (28.0%) 0.00 82
2024-07-01 $196,950 (-12.5%) $290,912 (23.6%) 0.00 95
2024-08-01 $215,000 (-2.5%) $283,525 (6.7%) 0.00 114
2024-09-01 $217,450 (15.2%) $285,213 (11.5%) 0.00 108
2024-10-01 $208,675 (0.1%) $286,926 (1.1%) 0.00 98
Madisonville's median listing price for 2024-10-01 was $208,675, a difference of $225 (0.1%) versus the prior year and $-8,775 versus the prior month.

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

Madisonville's average listing price for 2024-10-01 was $286,926, a difference of $3,170 (1.1%) versus the prior year and $1,713 versus the prior month.

For the 2024-10-01 period, Madisonville had 98 MLS listings, a difference of -10 listings (-9%) versus the prior month and 27 listings (38%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Madisonville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,669 sqft
2018-02-01 0 days 1,683 sqft
2018-03-01 0 days 1,731 sqft
2018-04-01 0 days 1,700 sqft
2018-05-01 0 days 1,705 sqft
2018-06-01 0 days 1,656 sqft
2018-07-01 0 days 1,694 sqft
2018-08-01 0 days 1,734 sqft
2018-09-01 0 days 1,638 sqft
2018-10-01 0 days 1,601 sqft
2018-11-01 0 days 1,639 sqft
2018-12-01 0 days 1,636 sqft
2019-01-01 0 days 1,630 sqft
2019-02-01 0 days 1,694 sqft
2019-03-01 0 days 1,703 sqft
2019-04-01 0 days 1,751 sqft
2019-05-01 0 days 1,819 sqft
2019-06-01 0 days 1,800 sqft
2019-07-01 0 days 1,779 sqft
2019-08-01 0 days 1,761 sqft
2019-09-01 0 days 1,735 sqft
2019-10-01 0 days 1,712 sqft
2019-11-01 0 days 1,700 sqft
2019-12-01 0 days 1,653 sqft
2020-01-01 0 days 1,700 sqft
2020-02-01 0 days 1,636 sqft
2020-03-01 0 days 1,636 sqft
2020-04-01 0 days 1,707 sqft
2020-05-01 0 days 1,624 sqft
2020-06-01 0 days 1,704 sqft
2020-07-01 0 days 1,708 sqft
2020-08-01 0 days 1,700 sqft
2020-09-01 0 days 1,713 sqft
2020-10-01 0 days 1,565 sqft
2020-11-01 0 days 1,563 sqft
2020-12-01 0 days 1,539 sqft
2021-01-01 0 days 1,559 sqft
2021-02-01 0 days 1,549 sqft
2021-03-01 0 days 1,696 sqft
2021-04-01 0 days 1,745 sqft
2021-05-01 0 days 1,699 sqft
2021-06-01 0 days 1,476 sqft
2021-07-01 0 days 1,624 sqft
2021-08-01 0 days 1,691 sqft
2021-09-01 0 days 1,648 sqft
2021-10-01 0 days 1,702 sqft
2021-11-01 0 days 1,638 sqft
2021-12-01 0 days 1,532 sqft
2022-01-01 0 days 1,402 sqft
2022-02-01 0 days 1,469 sqft
2022-03-01 0 days 1,396 sqft
2022-04-01 0 days 1,400 sqft
2022-05-01 0 days 1,742 sqft
2022-06-01 0 days 1,812 sqft
2022-07-01 0 days 1,704 sqft
2022-08-01 0 days 1,650 sqft
2022-09-01 0 days 1,743 sqft
2022-10-01 0 days 1,731 sqft
2022-11-01 0 days 1,648 sqft
2022-12-01 0 days 1,680 sqft
2023-01-01 0 days 1,696 sqft
2023-02-01 0 days 1,766 sqft
2023-03-01 0 days 1,751 sqft
2023-04-01 0 days 1,659 sqft
2023-05-01 0 days 1,602 sqft
2023-06-01 0 days 1,624 sqft
2023-07-01 0 days 1,873 sqft
2023-08-01 0 days 1,850 sqft
2023-09-01 0 days 1,668 sqft
2023-10-01 0 days 1,696 sqft
2023-11-01 0 days 1,764 sqft
2023-12-01 0 days 1,779 sqft
2024-01-01 0 days 1,727 sqft
2024-02-01 0 days 1,535 sqft
2024-03-01 0 days 1,548 sqft
2024-04-01 0 days 1,688 sqft
2024-05-01 0 days 1,668 sqft
2024-06-01 0 days 1,750 sqft
2024-07-01 0 days 1,659 sqft
2024-08-01 0 days 1,642 sqft
2024-09-01 0 days 1,678 sqft
2024-10-01 0 days 1,637 sqft
Madisonville's median listing age (time on market) for 2024-10-01 was 0 days.

Madisonville's median square footage for active listings during the 2024-10-01 period was 1,637 sqft. One year prior, the average listing was 1,696 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.