Madisonville VA Loan Rates, Closing Costs & Stats

Madisonville, KY

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 6.9% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

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

    The average rate for the prior week (2024-04-05) was 6.45% and one month ago for the week of 2024-03-08, the average rate was 6.68%.

    The average rate one year ago was 6.17%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.37%.

    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
    Madisonville's median listing price for 2024-03-01 was $210,950, a difference of $23,475 (12.5%) versus the prior year and $14,100 versus the prior month.

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

    Madisonville's average listing price for 2024-03-01 was $316,464, a difference of $65,139 (25.9%) versus the prior year and $21,457 versus the prior month.

    For the 2024-03-01 period, Madisonville had 66 MLS listings, a difference of -1 listings (-1%) versus the prior month and 13 listings (25%) 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
    Madisonville's median listing age (time on market) for 2024-03-01 was 0 days.

    Madisonville's median square footage for active listings during the 2024-03-01 period was 1,548 sqft. One year prior, the average listing was 1,751 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.