Malone VA Loan Rates, Closing Costs & Stats

Malone, NY

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.

Malone's 9 lenders originated 21 VA loans during 2023. The total origination value was $3,765,000, with an average VA loan value of $179,286.

Malone VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Malone averaged 6.84% for the week of 2024-03-22, compared to the national average (all VA variants) of 6.539% for the same period.

Malone's average VA mortgage closing costs are $4,753.

The average rate for the prior week (2024-03-15) was 6.85% and one month ago for the week of 2024-02-16, the average rate was 6.68%.

The average rate one year ago was 6.41%.

For refis of the same type during the week of 2024-03-22, the average rate was 6.74%.

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

Malone 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 Malone level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 4 7.21% $5,832
NAVY FEDERAL CREDIT UNION 3 6.21% $5,855
QUICKEN LOANS, LLC 3 7.08% $10,239
HOMESTEAD FUNDING CORP. 3 6.58% $3,764
MOVEMENT MORTGAGE, LLC 3 6.54% $5,027
USAA Federal Savings Bank 1 7.63% $6,903
KeyBank 1 6.25% $2,632
UNITED WHOLESALE MORTGAGE, LLC 1 6.75% $4,957
CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $11,149

The top Malone VA lender as defined by loan originations is Mortgage Research Center, LLC, with 4 VA loans originated. Their average total fees are $5,832, which is $23 lower than the next largest lender, NAVY FEDERAL CREDIT UNION.

The lowest fee Malone VA lenders (with over 10 loans originated) are .

The lowest rate Malone VA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Malone (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 $129,800 (3.8%) $265,022 (9.1%) 0.00 335
2018-02-01 $129,250 (1.0%) $284,957 (14.8%) 0.00 334
2018-03-01 $134,900 (2.6%) $282,329 (8.9%) 0.00 331
2018-04-01 $135,000 (3.1%) $288,533 (10.1%) 0.00 337
2018-05-01 $159,250 (18.5%) $300,161 (13.1%) 0.00 348
2018-06-01 $165,000 (18.7%) $305,298 (13.7%) 0.00 369
2018-07-01 $167,000 (18.2%) $326,180 (19.7%) 0.00 402
2018-08-01 $163,500 (16.8%) $319,257 (18.7%) 0.00 400
2018-09-01 $165,000 (22.2%) $328,774 (18.8%) 0.00 376
2018-10-01 $149,000 (10.4%) $316,988 (20.3%) 0.00 351
2018-11-01 $142,313 (5.4%) $322,411 (24.9%) 0.00 315
2018-12-01 $140,000 (5.7%) $319,215 (22.9%) 0.00 297
2019-01-01 $140,000 (7.9%) $308,728 (16.5%) 0.00 267
2019-02-01 $140,000 (8.3%) $318,459 (11.8%) 0.00 263
2019-03-01 $149,857 (11.1%) $330,767 (17.2%) 0.00 266
2019-04-01 $161,225 (19.4%) $333,609 (15.6%) 0.00 272
2019-05-01 $154,225 (-3.2%) $344,066 (14.6%) 0.00 297
2019-06-01 $165,000 (0.0%) $359,622 (17.8%) 0.00 319
2019-07-01 $175,000 (4.8%) $396,139 (21.5%) 0.00 329
2019-08-01 $172,245 (5.4%) $409,935 (28.4%) 0.00 329
2019-09-01 $168,114 (1.9%) $400,460 (21.8%) 0.00 325
2019-10-01 $164,950 (10.7%) $392,039 (23.7%) 0.00 322
2019-11-01 $159,900 (12.4%) $379,111 (17.6%) 0.00 288
2019-12-01 $150,250 (7.3%) $387,586 (21.4%) 0.00 264
2020-01-01 $147,000 (5.0%) $372,468 (20.7%) 0.00 250
2020-02-01 $158,250 (13.0%) $358,091 (12.4%) 0.00 245
2020-03-01 $162,200 (8.2%) $355,976 (7.6%) 0.00 243
2020-04-01 $174,950 (8.5%) $382,466 (14.6%) 0.00 225
2020-05-01 $184,450 (19.6%) $403,011 (17.1%) 0.00 214
2020-06-01 $189,300 (14.7%) $444,672 (23.7%) 0.00 216
2020-07-01 $190,425 (8.8%) $436,483 (10.2%) 0.00 229
2020-08-01 $189,900 (10.3%) $421,869 (2.9%) 0.00 215
2020-09-01 $189,900 (13.0%) $414,205 (3.4%) 0.00 213
2020-10-01 $179,000 (8.5%) $366,006 (-6.6%) 0.00 204
2020-11-01 $165,375 (3.4%) $331,332 (-12.6%) 0.00 191
2020-12-01 $165,500 (10.2%) $356,234 (-8.1%) 0.00 172
2021-01-01 $156,000 (6.1%) $343,531 (-7.8%) 0.00 154
2021-02-01 $149,950 (-5.2%) $353,921 (-1.2%) 0.00 135
2021-03-01 $165,500 (2.0%) $373,021 (4.8%) 0.00 124
2021-04-01 $145,000 (-17.1%) $399,663 (4.5%) 0.00 112
2021-05-01 $179,900 (-2.5%) $442,279 (9.7%) 0.00 114
2021-06-01 $189,450 (0.1%) $432,891 (-2.7%) 0.00 123
2021-07-01 $187,250 (-1.7%) $472,018 (8.1%) 0.00 132
2021-08-01 $199,000 (4.8%) $445,085 (5.5%) 0.00 144
2021-09-01 $207,500 (9.3%) $411,977 (-0.5%) 0.00 147
2021-10-01 $185,000 (3.4%) $390,100 (6.6%) 0.00 141
2021-11-01 $159,000 (-3.9%) $362,508 (9.4%) 0.00 134
2021-12-01 $159,000 (-3.9%) $370,366 (4.0%) 0.00 120
2022-01-01 $165,500 (6.1%) $366,148 (6.6%) 0.00 105
2022-02-01 $156,725 (4.5%) $295,486 (-16.5%) 0.00 105
2022-03-01 $159,975 (-3.3%) $282,080 (-24.4%) 0.00 100
2022-04-01 $165,500 (14.1%) $295,352 (-26.1%) 0.00 104
2022-05-01 $203,750 (13.3%) $332,151 (-24.9%) 0.00 112
2022-06-01 $199,500 (5.3%) $400,394 (-7.5%) 0.00 140
2022-07-01 $210,000 (12.2%) $495,021 (4.9%) 0.00 159
2022-08-01 $231,000 (16.1%) $491,250 (10.4%) 0.00 159
2022-09-01 $227,000 (9.4%) $476,877 (15.8%) 0.00 154
2022-10-01 $215,000 (16.2%) $450,477 (15.5%) 0.00 143
2022-11-01 $202,250 (27.2%) $449,298 (23.9%) 0.00 139
2022-12-01 $215,000 (35.2%) $434,842 (17.4%) 0.00 125
2023-01-01 $185,725 (12.2%) $415,004 (13.3%) 0.00 116
2023-02-01 $189,000 (20.6%) $416,549 (41.0%) 0.00 113
2023-03-01 $218,500 (36.6%) $419,133 (48.6%) 0.00 110
2023-04-01 $212,500 (28.4%) $445,304 (50.8%) 0.00 101
2023-05-01 $235,250 (15.5%) $472,295 (42.2%) 0.00 114
2023-06-01 $229,750 (15.2%) $478,859 (19.6%) 0.00 131
2023-07-01 $249,500 (18.8%) $475,524 (-3.9%) 0.00 158
2023-08-01 $249,000 (7.8%) $487,141 (-0.8%) 0.00 161
2023-09-01 $249,900 (10.1%) $603,926 (26.6%) 0.00 156
2023-10-01 $249,450 (16.0%) $574,978 (27.6%) 0.00 145
2023-11-01 $249,000 (23.1%) $608,433 (35.4%) 0.00 132
2023-12-01 $249,450 (16.0%) $613,042 (41.0%) 0.00 125
2024-01-01 $249,238 (34.2%) $624,549 (50.5%) 0.00 109
2024-02-01 $263,250 (39.3%) $706,094 (69.5%) 0.00 98
Malone's median listing price for 2024-02-01 was $263,250, a difference of $74,250 (39.3%) versus the prior year and $14,012 versus the prior month.

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

Malone's average listing price for 2024-02-01 was $706,094, a difference of $289,545 (69.5%) versus the prior year and $81,545 versus the prior month.

For the 2024-02-01 period, Malone had 98 MLS listings, a difference of -11 listings (-10%) versus the prior month and -15 listings (-13%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Malone (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,556 sqft
2018-02-01 0 days 1,551 sqft
2018-03-01 0 days 1,550 sqft
2018-04-01 0 days 1,559 sqft
2018-05-01 0 days 1,563 sqft
2018-06-01 0 days 1,556 sqft
2018-07-01 0 days 1,565 sqft
2018-08-01 0 days 1,565 sqft
2018-09-01 0 days 1,586 sqft
2018-10-01 0 days 1,577 sqft
2018-11-01 0 days 1,593 sqft
2018-12-01 0 days 1,600 sqft
2019-01-01 0 days 1,620 sqft
2019-02-01 0 days 1,631 sqft
2019-03-01 0 days 1,657 sqft
2019-04-01 0 days 1,672 sqft
2019-05-01 0 days 1,627 sqft
2019-06-01 0 days 1,630 sqft
2019-07-01 0 days 1,624 sqft
2019-08-01 0 days 1,624 sqft
2019-09-01 0 days 1,624 sqft
2019-10-01 0 days 1,626 sqft
2019-11-01 0 days 1,621 sqft
2019-12-01 0 days 1,625 sqft
2020-01-01 0 days 1,620 sqft
2020-02-01 0 days 1,616 sqft
2020-03-01 0 days 1,651 sqft
2020-04-01 0 days 1,673 sqft
2020-05-01 0 days 1,680 sqft
2020-06-01 0 days 1,717 sqft
2020-07-01 0 days 1,776 sqft
2020-08-01 0 days 1,742 sqft
2020-09-01 0 days 1,754 sqft
2020-10-01 0 days 1,728 sqft
2020-11-01 0 days 1,711 sqft
2020-12-01 0 days 1,650 sqft
2021-01-01 0 days 1,633 sqft
2021-02-01 0 days 1,590 sqft
2021-03-01 0 days 1,637 sqft
2021-04-01 0 days 1,577 sqft
2021-05-01 0 days 1,669 sqft
2021-06-01 0 days 1,676 sqft
2021-07-01 0 days 1,785 sqft
2021-08-01 0 days 1,666 sqft
2021-09-01 0 days 1,675 sqft
2021-10-01 0 days 1,674 sqft
2021-11-01 0 days 1,625 sqft
2021-12-01 0 days 1,650 sqft
2022-01-01 0 days 1,738 sqft
2022-02-01 0 days 1,506 sqft
2022-03-01 0 days 1,454 sqft
2022-04-01 0 days 1,563 sqft
2022-05-01 0 days 1,555 sqft
2022-06-01 0 days 1,518 sqft
2022-07-01 0 days 1,588 sqft
2022-08-01 0 days 1,705 sqft
2022-09-01 0 days 1,664 sqft
2022-10-01 0 days 1,649 sqft
2022-11-01 0 days 1,662 sqft
2022-12-01 0 days 1,608 sqft
2023-01-01 0 days 1,544 sqft
2023-02-01 0 days 1,584 sqft
2023-03-01 0 days 1,625 sqft
2023-04-01 0 days 1,718 sqft
2023-05-01 0 days 1,713 sqft
2023-06-01 0 days 1,650 sqft
2023-07-01 0 days 1,649 sqft
2023-08-01 0 days 1,610 sqft
2023-09-01 0 days 1,666 sqft
2023-10-01 0 days 1,629 sqft
2023-11-01 0 days 1,666 sqft
2023-12-01 0 days 1,715 sqft
2024-01-01 0 days 1,699 sqft
2024-02-01 0 days 1,695 sqft
Malone's median listing age (time on market) for 2024-02-01 was 0 days.

Malone's median square footage for active listings during the 2024-02-01 period was 1,695 sqft. One year prior, the average listing was 1,584 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.