Meridian VA Loan Rates, Closing Costs & Stats

Meridian, MS

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.

Meridian's 30 lenders originated 148 VA loans during 2023. The total origination value was $31,900,000, with an average VA loan value of $215,541.

Meridian VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Meridian averaged 6.3% for the week of 2024-12-06, compared to the national average (all VA variants) of 6.143% for the same period.

Meridian's average VA mortgage closing costs are $5,630.

The average rate for the prior week (2024-11-29) was 6.6% and one month ago for the week of 2024-11-01, the average rate was 6.55%.

The average rate one year ago was 7%.

For refis of the same type during the week of 2024-12-06, the average rate was 6.24%.

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

Meridian 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 Meridian level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 37 6.89% $5,275
Trustmark National Bank 24 6.14% $9,275
NAVY FEDERAL CREDIT UNION 15 5.78% $5,353
The Citizens National Bank of Meridian 9 6.49% $7,809
Barrington Bank & Trust Company, N.A. 5 7.05% $5,597
NEW DAY FINANCIAL, LLC 4 7.15% $8,042
QUICKEN LOANS, LLC 4 5.84% $7,920
NBKC BANK 3 5.92% $8,780
CROSSCOUNTRY MORTGAGE, LLC 3 6.08% $5,024
Mr. Cooper ( Nationstar Mortgage ) 3 5.92% $11,303
USAA Federal Savings Bank 2 6.56% $6,190
FREEDOM MORTGAGE CORPORATION 2 6.81% $18,460
LOANDEPOT.COM, LLC 2 6.63% $5,738
Mid-Continent Funding, Inc. 2 5.75% $6,250
MORTGAGE INVESTORS GROUP, INC. 2 5.81% $5,539
Regions Bank 2 6.19% $8,302
ROYAL UNITED MORTGAGE LLC 2 7.44% $11,001
TOWNE MORTGAGE COMPANY 2 6.38% $5,816
Bank of England 1 5.75% $11,202
RELIANCE FIRST CAPITAL, LLC 1 7.25% $1,248
Renasant Bank 1 5.75% $7,948
UNITED WHOLESALE MORTGAGE, LLC 1 6.50% $2,830
STOCKTON MORTGAGE CORPORATION 1 5.25% $17,629
SUN WEST MORTGAGE COMPANY, INC. 1 6.25% $12,145
GUILD MORTGAGE COMPANY 1 6.50% $12,527
The Federal Savings Bank 1 6.75% $23,323
AMERISAVE MORTGAGE CORPORATION 1 5.75% $3,660
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $4,673
PENNYMAC LOAN SERVICES, LLC 1 4.75% $4,236
KEESLER 1 4.88% $12,346

The top Meridian VA lender as defined by loan originations is Mortgage Research Center, LLC, with 37 VA loans originated. Their average total fees are $5,275, which is $4,000 lower than the next largest lender, Trustmark National Bank.

The lowest fee Meridian VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,275), NAVY FEDERAL CREDIT UNION ($5,353), Trustmark National Bank ($9,275), .

The lowest rate Meridian VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.78%), Trustmark National Bank (6.14%), Mortgage Research Center, LLC (6.89%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Meridian (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 $138,800 (6.8%) $188,600 (9.2%) 0.00 416
2018-02-01 $133,625 (8.9%) $184,124 (8.0%) 0.00 411
2018-03-01 $136,500 (7.1%) $181,762 (4.2%) 0.00 401
2018-04-01 $143,750 (6.5%) $190,515 (2.2%) 0.00 385
2018-05-01 $147,500 (9.6%) $195,608 (3.0%) 0.00 383
2018-06-01 $142,000 (3.9%) $194,521 (1.4%) 0.00 398
2018-07-01 $144,250 (1.9%) $191,886 (0.2%) 0.00 410
2018-08-01 $153,250 (5.2%) $190,583 (-1.6%) 0.00 402
2018-09-01 $152,500 (6.3%) $193,671 (-1.2%) 0.00 402
2018-10-01 $140,625 (-5.8%) $185,637 (-4.3%) 0.00 410
2018-11-01 $148,500 (0.2%) $181,137 (-6.4%) 0.00 386
2018-12-01 $147,000 (4.3%) $176,421 (-7.9%) 0.00 372
2019-01-01 $145,500 (4.8%) $177,478 (-5.9%) 0.00 360
2019-02-01 $149,000 (11.5%) $176,743 (-4.0%) 0.00 364
2019-03-01 $146,543 (7.4%) $177,445 (-2.4%) 0.00 366
2019-04-01 $147,818 (2.8%) $180,671 (-5.2%) 0.00 360
2019-05-01 $144,725 (-1.9%) $188,018 (-3.9%) 0.00 350
2019-06-01 $151,800 (6.9%) $194,988 (0.2%) 0.00 365
2019-07-01 $156,600 (8.6%) $196,464 (2.4%) 0.00 365
2019-08-01 $153,427 (0.1%) $193,330 (1.4%) 0.00 352
2019-09-01 $145,818 (-4.4%) $189,665 (-2.1%) 0.00 336
2019-10-01 $139,450 (-0.8%) $187,138 (0.8%) 0.00 323
2019-11-01 $139,450 (-6.1%) $192,199 (6.1%) 0.00 298
2019-12-01 $138,750 (-5.6%) $191,141 (8.3%) 0.00 291
2020-01-01 $133,500 (-8.3%) $191,425 (7.9%) 0.00 284
2020-02-01 $129,000 (-13.4%) $192,462 (8.9%) 0.00 285
2020-03-01 $129,350 (-11.7%) $185,617 (4.6%) 0.00 288
2020-04-01 $136,850 (-7.4%) $198,690 (10.0%) 0.00 278
2020-05-01 $129,000 (-10.9%) $185,505 (-1.3%) 0.00 258
2020-06-01 $127,950 (-15.7%) $184,083 (-5.6%) 0.00 227
2020-07-01 $127,225 (-18.8%) $180,939 (-7.9%) 0.00 207
2020-08-01 $134,000 (-12.7%) $185,880 (-3.9%) 0.00 194
2020-09-01 $139,500 (-4.3%) $183,212 (-3.4%) 0.00 188
2020-10-01 $150,000 (7.6%) $195,675 (4.6%) 0.00 190
2020-11-01 $164,700 (18.1%) $196,614 (2.3%) 0.00 189
2020-12-01 $149,925 (8.1%) $189,734 (-0.7%) 0.00 191
2021-01-01 $169,700 (27.1%) $195,079 (1.9%) 0.00 168
2021-02-01 $168,100 (30.3%) $194,165 (0.9%) 0.00 135
2021-03-01 $164,500 (27.2%) $186,581 (0.5%) 0.00 119
2021-04-01 $151,000 (10.3%) $192,000 (-3.4%) 0.00 115
2021-05-01 $150,000 (16.3%) $198,830 (7.2%) 0.00 110
2021-06-01 $154,450 (20.7%) $211,725 (15.0%) 0.00 107
2021-07-01 $154,500 (21.4%) $210,002 (16.1%) 0.00 102
2021-08-01 $159,450 (19.0%) $204,959 (10.3%) 0.00 114
2021-09-01 $149,800 (7.4%) $210,938 (15.1%) 0.00 109
2021-10-01 $149,900 (-0.1%) $207,545 (6.1%) 0.00 117
2021-11-01 $159,500 (-3.2%) $236,151 (20.1%) 0.00 113
2021-12-01 $147,175 (-1.8%) $233,163 (22.9%) 0.00 106
2022-01-01 $140,000 (-17.5%) $235,162 (20.6%) 0.00 95
2022-02-01 $154,700 (-8.0%) $242,838 (25.1%) 0.00 85
2022-03-01 $165,000 (0.3%) $254,197 (36.2%) 0.00 85
2022-04-01 $160,000 (6.0%) $247,263 (28.8%) 0.00 74
2022-05-01 $189,175 (26.1%) $267,871 (34.7%) 0.00 80
2022-06-01 $182,250 (18.0%) $267,857 (26.5%) 0.00 93
2022-07-01 $170,000 (10.0%) $262,376 (24.9%) 0.00 114
2022-08-01 $176,675 (10.8%) $270,855 (32.2%) 0.00 123
2022-09-01 $174,300 (16.4%) $269,545 (27.8%) 0.00 116
2022-10-01 $157,000 (4.7%) $241,067 (16.2%) 0.00 124
2022-11-01 $162,100 (1.6%) $247,096 (4.6%) 0.00 130
2022-12-01 $152,500 (3.6%) $236,074 (1.3%) 0.00 126
2023-01-01 $158,000 (12.9%) $256,383 (9.0%) 0.00 120
2023-02-01 $147,350 (-4.8%) $272,307 (12.1%) 0.00 116
2023-03-01 $143,750 (-12.9%) $292,627 (15.1%) 0.00 91
2023-04-01 $177,200 (10.8%) $296,235 (19.8%) 0.00 97
2023-05-01 $192,700 (1.9%) $302,410 (12.9%) 0.00 97
2023-06-01 $187,450 (2.9%) $290,182 (8.3%) 0.00 101
2023-07-01 $213,750 (25.7%) $287,257 (9.5%) 0.00 124
2023-08-01 $222,500 (25.9%) $281,785 (4.0%) 0.00 132
2023-09-01 $190,500 (9.3%) $272,511 (1.1%) 0.00 125
2023-10-01 $199,900 (27.3%) $284,398 (18.0%) 0.00 131
2023-11-01 $191,200 (18.0%) $274,116 (10.9%) 0.00 137
2023-12-01 $187,250 (22.8%) $269,861 (14.3%) 0.00 147
2024-01-01 $169,950 (7.6%) $254,970 (-0.6%) 0.00 155
2024-02-01 $167,000 (13.3%) $246,481 (-9.5%) 0.00 145
2024-03-01 $169,950 (18.2%) $250,464 (-14.4%) 0.00 150
2024-04-01 $175,000 (-1.2%) $265,624 (-10.3%) 0.00 146
2024-05-01 $188,700 (-2.1%) $283,144 (-6.4%) 0.00 133
2024-06-01 $177,900 (-5.1%) $273,939 (-5.6%) 0.00 137
2024-07-01 $176,450 (-17.5%) $274,204 (-4.5%) 0.00 141
2024-08-01 $179,000 (-19.6%) $304,062 (7.9%) 0.00 136
2024-09-01 $191,750 (0.7%) $305,334 (12.0%) 0.00 147
2024-10-01 $202,750 (1.4%) $306,818 (7.9%) 0.00 155
2024-11-01 $179,250 (-6.3%) $281,024 (2.5%) 0.00 179
Meridian's median listing price for 2024-11-01 was $179,250, a difference of $-11,950 (-6.3%) versus the prior year and $-23,500 versus the prior month.

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

Meridian's average listing price for 2024-11-01 was $281,024, a difference of $6,908 (2.5%) versus the prior year and $-25,794 versus the prior month.

For the 2024-11-01 period, Meridian had 179 MLS listings, a difference of 24 listings (15%) versus the prior month and 42 listings (31%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Meridian (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,950 sqft
2018-02-01 0 days 1,943 sqft
2018-03-01 0 days 1,943 sqft
2018-04-01 0 days 1,954 sqft
2018-05-01 0 days 1,981 sqft
2018-06-01 0 days 1,999 sqft
2018-07-01 0 days 1,981 sqft
2018-08-01 0 days 1,974 sqft
2018-09-01 0 days 1,954 sqft
2018-10-01 0 days 1,944 sqft
2018-11-01 0 days 1,934 sqft
2018-12-01 0 days 1,914 sqft
2019-01-01 0 days 1,914 sqft
2019-02-01 0 days 1,913 sqft
2019-03-01 0 days 1,935 sqft
2019-04-01 0 days 1,965 sqft
2019-05-01 0 days 1,975 sqft
2019-06-01 0 days 2,033 sqft
2019-07-01 0 days 1,976 sqft
2019-08-01 0 days 1,953 sqft
2019-09-01 0 days 1,963 sqft
2019-10-01 0 days 1,964 sqft
2019-11-01 0 days 1,972 sqft
2019-12-01 0 days 1,951 sqft
2020-01-01 0 days 1,928 sqft
2020-02-01 0 days 1,887 sqft
2020-03-01 0 days 1,935 sqft
2020-04-01 0 days 1,953 sqft
2020-05-01 0 days 1,943 sqft
2020-06-01 0 days 1,918 sqft
2020-07-01 0 days 1,896 sqft
2020-08-01 0 days 1,938 sqft
2020-09-01 0 days 1,908 sqft
2020-10-01 0 days 1,944 sqft
2020-11-01 0 days 1,946 sqft
2020-12-01 0 days 1,936 sqft
2021-01-01 0 days 1,975 sqft
2021-02-01 0 days 1,990 sqft
2021-03-01 0 days 1,916 sqft
2021-04-01 0 days 1,998 sqft
2021-05-01 0 days 2,000 sqft
2021-06-01 0 days 2,046 sqft
2021-07-01 0 days 1,972 sqft
2021-08-01 0 days 1,943 sqft
2021-09-01 0 days 1,928 sqft
2021-10-01 0 days 1,837 sqft
2021-11-01 0 days 1,929 sqft
2021-12-01 0 days 1,819 sqft
2022-01-01 0 days 1,932 sqft
2022-02-01 0 days 1,902 sqft
2022-03-01 0 days 1,965 sqft
2022-04-01 0 days 1,926 sqft
2022-05-01 0 days 1,952 sqft
2022-06-01 0 days 1,930 sqft
2022-07-01 0 days 1,892 sqft
2022-08-01 0 days 1,923 sqft
2022-09-01 0 days 1,939 sqft
2022-10-01 0 days 1,917 sqft
2022-11-01 0 days 1,929 sqft
2022-12-01 0 days 1,730 sqft
2023-01-01 0 days 1,799 sqft
2023-02-01 0 days 1,945 sqft
2023-03-01 0 days 1,919 sqft
2023-04-01 0 days 2,050 sqft
2023-05-01 0 days 2,296 sqft
2023-06-01 0 days 2,121 sqft
2023-07-01 0 days 2,179 sqft
2023-08-01 0 days 2,252 sqft
2023-09-01 0 days 2,172 sqft
2023-10-01 0 days 2,147 sqft
2023-11-01 0 days 2,122 sqft
2023-12-01 0 days 2,040 sqft
2024-01-01 0 days 1,997 sqft
2024-02-01 0 days 1,946 sqft
2024-03-01 0 days 1,934 sqft
2024-04-01 0 days 1,951 sqft
2024-05-01 0 days 1,982 sqft
2024-06-01 0 days 1,954 sqft
2024-07-01 0 days 1,919 sqft
2024-08-01 0 days 1,952 sqft
2024-09-01 0 days 1,969 sqft
2024-10-01 0 days 2,004 sqft
2024-11-01 0 days 1,943 sqft
Meridian's median listing age (time on market) for 2024-11-01 was 0 days.

Meridian's median square footage for active listings during the 2024-11-01 period was 1,943 sqft. One year prior, the average listing was 2,122 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.