Mobile VA Loan Rates, Closing Costs & Stats

MOBILE, AL

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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.

    Mobile's 88 lenders originated 699 VA loans during 2023. The total origination value was $181,755,000, with an average VA loan value of $260,021.

    Mobile VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Mobile averaged 6.42% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Mobile's average VA mortgage closing costs are $5,015.

    The average rate for the prior week (2025-02-07) was 6.26% and one month ago for the week of 2025-01-10, the average rate was 6.69%.

    The average rate one year ago was 6.32%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.76%.

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

    Mobile 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 Mobile level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 124 6.73% $4,154
    DHI MORTGAGE COMPANY, LTD. 79 5.22% $5,007
    QUICKEN LOANS, LLC 43 6.25% $9,864
    UNITED WHOLESALE MORTGAGE, LLC 31 6.26% $6,455
    NAVY FEDERAL CREDIT UNION 31 5.88% $5,230
    Trustmark National Bank 22 6.28% $4,876
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 21 6.63% $6,081
    USAA Federal Savings Bank 18 6.06% $8,268
    NEW DAY FINANCIAL, LLC 15 7.45% $10,000
    EMBRACE HOME LOANS, INC. 14 6.32% $7,312
    The Federal Savings Bank 11 6.30% $13,837
    Presidential Bank, FSB 11 5.93% $6,686
    FREEDOM MORTGAGE CORPORATION 11 6.86% $11,958
    MORTGAGE SOLUTIONS OF COLORADO, LLC 10 7.55% $2,176
    PRIMELENDING, A PLAINSCAPITAL COMPANY 9 6.57% $5,986
    Renasant Bank 9 6.35% $5,423
    Plains Commerce Bank 9 6.28% $8,923
    UNION HOME MORTGAGE CORP. 9 6.31% $9,824
    LOANDEPOT.COM, LLC 9 6.44% $8,470
    PENNYMAC LOAN SERVICES, LLC 9 5.79% $5,105
    SWBC MORTGAGE CORPORATION 8 7.00% $3,306
    GMFS LLC 7 6.14% $4,556
    Prosperity Home Mortgage, LLC 7 6.14% $6,940
    FirstBank 6 6.29% $3,822
    Regions Bank 6 6.38% $6,446
    First Federal Bank, A FSB 6 6.52% $9,113
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 6.10% $5,834
    Equity Prime Mortgage LLC 6 7.38% $5,373
    Mr. Cooper ( Nationstar Mortgage ) 5 6.18% $11,118
    MUTUAL OF OMAHA MORTGAGE, INC. 5 6.80% $9,131
    Barrington Bank & Trust Company, N.A. 5 5.95% $6,616
    CMG MORTGAGE, INC. 4 5.78% $14,068
    CROSSCOUNTRY MORTGAGE, LLC 4 6.91% $8,947
    HOMETRUST MORTGAGE COMPANY 4 6.56% $11,268
    Paramount Residential Mortgage Group, Inc. 4 6.09% $3,485
    PACIFIC RESIDENTIAL MORTGAGE, LLC 4 6.94% $5,538
    LOANPAL, LLC 4 6.28% $13,230
    DIRECT MORTGAGE LOANS, LLC 4 6.97% $7,928
    PENTAGON FEDERAL CREDIT UNION 4 5.56% $5,118
    MOVEMENT MORTGAGE, LLC 4 6.56% $10,017
    Flagstar Bank, FSB 4 7.00% $5,095
    VILLAGE CAPITAL MORTGAGE 3 5.92% $8,196
    CARDINAL FINANCIAL 3 7.42% $9,001
    PNC Bank 3 6.88% $1,639
    Hancock Whitney Bank 3 6.54% $6,825
    BancorpSouth 3 5.75% $9,810
    STOCKTON MORTGAGE CORPORATION 3 4.88% $15,233
    Bank of England 3 6.88% $9,676
    Tyndall Federal Credit Union 2 6.44% $3,929
    FBC MORTGAGE, LLC 2 5.49% $7,540
    RELIANCE FIRST CAPITAL, LLC 2 6.50% $11,103
    NEWREZ LLC 2 6.12% $10,511
    Synovus Bank 2 6.44% $4,794
    AMERICAN FINANCIAL NETWORK, INC. 2 6.31% $3,348
    AMERISAVE MORTGAGE CORPORATION 2 5.75% $20,309
    KEESLER 2 5.06% $2,816
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 7.19% $5,775
    Nations Lending Corporation 2 6.75% $5,426
    Wells Fargo Bank 1 5.63% $0
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $10,434
    BankPlus 1 6.75% $4,290
    BNC National Bank 1 5.25% $8,354
    CASTLE & COOKE MORTGAGE, LLC 1 6.25% $550
    Consumer First Mortgage, Inc. 1 6.75% $6,690
    Evolve Bank & Trust 1 6.63% $8,227
    FCB Banks 1 6.50% $15,307
    FIDELITY BANK 1 7.13% $13,426
    First Federal Bank 1 6.63% $3,055
    First Horizon Bank 1 5.75% $4,942
    GUARANTEED RATE AFFINITY, LLC 1 6.23% $8,937
    GUARANTEED RATE, INC. 1 7.63% $750
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.63% $1,544
    HomePromise Corporation 1 8.13% $5,962
    Magnolia Bank 1 6.75% $9,457
    Mid-Continent Funding, Inc. 1 5.75% $6,365
    NETWORK CAPITAL FUNDING CORPORATION 1 6.75% $5,150
    OCEANSIDE MORTGAGE COMPANY 1 6.50% $1,848
    ON Q FINANCIAL, INC. 1 7.75% $7,384
    PLANET HOME LENDING, LLC 1 5.75% $4,606
    ServisFirst Bank 1 5.50% $15,979
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $5,168
    SUMMIT FUNDING, INC. 1 7.25% $2,953
    SUN WEST MORTGAGE COMPANY, INC. 1 7.75% $2,507
    T2 FINANCIAL LLC 1 7.13% $8,377
    The Central Trust Bank 1 5.25% $10,663
    THE MORTGAGE FIRM, INC. 1 6.13% $6,999
    Truist 1 5.75% $776
    United Fidelity Funding Corp. 1 5.50% $10,766

    The top Mobile VA lender as defined by loan originations is Mortgage Research Center, LLC, with 124 VA loans originated. Their average total fees are $4,154, which is $853 lower than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Mobile VA lenders (with over 10 loans originated) are MORTGAGE SOLUTIONS OF COLORADO, LLC ($2,176), Mortgage Research Center, LLC ($4,154), Trustmark National Bank ($4,876), DHI MORTGAGE COMPANY, LTD. ($5,007) and NAVY FEDERAL CREDIT UNION ($5,230).

    The lowest rate Mobile VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.22%), NAVY FEDERAL CREDIT UNION (5.88%), Presidential Bank, FSB (5.93%), USAA Federal Savings Bank (6.06%) and QUICKEN LOANS, LLC (6.25%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Mobile (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 $159,900 (6.7%) $214,773 (7.8%) 0.59 1,631
    2018-02-01 $162,540 (7.6%) $215,832 (6.1%) 0.59 1,656
    2018-03-01 $169,179 (7.7%) $221,236 (6.9%) 0.59 1,684
    2018-04-01 $169,700 (4.4%) $227,018 (6.5%) 0.57 1,656
    2018-05-01 $170,269 (6.5%) $262,993 (23.2%) 0.57 1,632
    2018-06-01 $174,900 (6.0%) $237,835 (9.0%) 0.58 1,636
    2018-07-01 $169,950 (1.2%) $235,718 (9.0%) 0.57 1,657
    2018-08-01 $169,700 (-0.1%) $235,075 (7.6%) 0.57 1,636
    2018-09-01 $164,900 (-0.7%) $230,569 (6.0%) 0.55 1,633
    2018-10-01 $165,450 (3.2%) $229,615 (5.8%) 0.56 1,639
    2018-11-01 $165,000 (3.1%) $228,479 (5.6%) 0.56 1,591
    2018-12-01 $162,900 (1.9%) $226,055 (3.9%) 0.56 1,518
    2019-01-01 $159,900 (0.0%) $225,404 (5.0%) 0.55 1,458
    2019-02-01 $159,950 (-1.6%) $225,242 (4.4%) 0.54 1,438
    2019-03-01 $165,918 (-1.9%) $234,469 (6.0%) 0.54 1,460
    2019-04-01 $169,900 (0.1%) $241,871 (6.5%) 0.54 1,504
    2019-05-01 $169,950 (-0.2%) $239,535 (-8.9%) 0.53 1,533
    2019-06-01 $179,900 (2.9%) $245,897 (3.4%) 0.56 1,527
    2019-07-01 $179,900 (5.9%) $246,320 (4.5%) 0.56 1,515
    2019-08-01 $180,964 (6.6%) $243,557 (3.6%) 0.57 1,515
    2019-09-01 $182,559 (10.7%) $244,028 (5.8%) 0.58 1,502
    2019-10-01 $184,350 (11.4%) $244,342 (6.4%) 0.59 1,477
    2019-11-01 $179,900 (9.0%) $242,866 (6.3%) 0.59 1,404
    2019-12-01 $178,900 (9.8%) $234,130 (3.6%) 0.60 1,360
    2020-01-01 $176,544 (10.4%) $232,896 (3.3%) 0.59 1,269
    2020-02-01 $180,000 (12.5%) $237,852 (5.6%) 0.59 1,229
    2020-03-01 $188,750 (13.8%) $243,050 (3.7%) 0.59 1,201
    2020-04-01 $189,450 (11.5%) $245,623 (1.6%) 0.59 1,189
    2020-05-01 $199,209 (17.2%) $261,286 (9.1%) 0.60 1,059
    2020-06-01 $208,725 (16.0%) $272,842 (11.0%) 0.60 959
    2020-07-01 $209,450 (16.4%) $277,800 (12.8%) 0.60 825
    2020-08-01 $209,000 (15.5%) $276,825 (13.7%) 0.60 773
    2020-09-01 $214,440 (17.5%) $286,362 (17.4%) 0.60 756
    2020-10-01 $215,000 (16.6%) $290,731 (19.0%) 0.61 715
    2020-11-01 $209,950 (16.7%) $288,431 (18.8%) 0.61 694
    2020-12-01 $209,000 (16.8%) $281,710 (20.3%) 0.62 699
    2021-01-01 $210,240 (19.1%) $279,629 (20.1%) 0.62 624
    2021-02-01 $212,050 (17.8%) $291,881 (22.7%) 0.60 504
    2021-03-01 $209,057 (10.8%) $288,723 (18.8%) 0.59 500
    2021-04-01 $206,999 (9.3%) $280,287 (14.1%) 0.55 513
    2021-05-01 $199,900 (0.4%) $291,503 (11.6%) 0.53 517
    2021-06-01 $209,450 (0.4%) $288,971 (5.9%) 0.55 557
    2021-07-01 $209,950 (0.2%) $283,443 (2.0%) 0.55 634
    2021-08-01 $202,063 (-3.3%) $276,729 (0.0%) 0.54 779
    2021-09-01 $199,925 (-6.8%) $280,005 (-2.2%) 0.53 750
    2021-10-01 $199,225 (-7.3%) $288,371 (-0.8%) 0.53 727
    2021-11-01 $196,600 (-6.4%) $274,659 (-4.8%) 0.52 687
    2021-12-01 $199,950 (-4.3%) $271,763 (-3.5%) 0.54 688
    2022-01-01 $199,925 (-4.9%) $279,853 (0.1%) 0.54 604
    2022-02-01 $200,110 (-5.6%) $277,151 (-5.1%) 0.53 522
    2022-03-01 $224,700 (7.5%) $292,593 (1.3%) 0.56 492
    2022-04-01 $239,640 (15.8%) $304,859 (8.8%) 0.57 505
    2022-05-01 $257,638 (28.9%) $310,871 (6.6%) 0.59 625
    2022-06-01 $242,127 (15.6%) $301,210 (4.2%) 0.53 704
    2022-07-01 $244,950 (16.7%) $297,042 (4.8%) 0.54 751
    2022-08-01 $249,000 (23.2%) $305,067 (10.2%) 0.57 766
    2022-09-01 $249,500 (24.8%) $308,347 (10.1%) 0.58 740
    2022-10-01 $249,264 (25.1%) $312,039 (8.2%) 0.59 774
    2022-11-01 $248,950 (26.6%) $313,598 (14.2%) 0.59 815
    2022-12-01 $240,000 (20.0%) $308,411 (13.5%) 0.59 786
    2023-01-01 $239,838 (20.0%) $313,277 (11.9%) 0.59 718
    2023-02-01 $239,800 (19.8%) $314,702 (13.6%) 0.58 656
    2023-03-01 $237,488 (5.7%) $312,378 (6.8%) 0.56 663
    2023-04-01 $250,000 (4.3%) $322,328 (5.7%) 0.58 677
    2023-05-01 $256,488 (-0.5%) $330,293 (6.3%) 0.58 682
    2023-06-01 $262,500 (8.4%) $336,854 (11.8%) 0.59 680
    2023-07-01 $260,000 (6.1%) $337,311 (13.6%) 0.59 739
    2023-08-01 $255,000 (2.4%) $328,271 (7.6%) 0.59 794
    2023-09-01 $255,265 (2.3%) $328,468 (6.5%) 0.59 852
    2023-10-01 $250,000 (0.3%) $336,462 (7.8%) 0.59 937
    2023-11-01 $249,900 (0.4%) $331,352 (5.7%) 0.59 1,010
    2023-12-01 $249,900 (4.1%) $328,605 (6.6%) 0.61 1,024
    2024-01-01 $249,516 (4.0%) $320,186 (2.2%) 0.61 985
    2024-02-01 $249,900 (4.2%) $323,457 (2.8%) 0.60 1,007
    2024-03-01 $259,000 (9.1%) $340,414 (9.0%) 0.61 985
    2024-04-01 $259,700 (3.9%) $343,742 (6.6%) 0.60 1,022
    2024-05-01 $267,425 (4.3%) $358,339 (8.5%) 0.61 1,065
    2024-06-01 $269,145 (2.5%) $354,718 (5.3%) 0.61 1,144
    2024-07-01 $257,425 (-1.0%) $343,652 (1.9%) 0.59 1,214
    2024-08-01 $260,000 (2.0%) $343,358 (4.6%) 0.60 1,262
    2024-09-01 $266,950 (4.6%) $349,972 (6.6%) 0.63 1,315
    2024-10-01 $270,000 (8.0%) $355,932 (5.8%) 0.64 1,337
    2024-11-01 $269,950 (8.0%) $348,154 (5.1%) 0.65 1,363
    2024-12-01 $269,450 (7.8%) $348,574 (6.1%) 0.67 1,286
    2025-01-01 $264,538 (6.0%) $345,334 (7.9%) 0.00 1,230
    Mobile's median listing price for 2025-01-01 was $264,538, a difference of $15,022 (6.0%) versus the prior year and $-4,912 versus the prior month.

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

    Mobile's average listing price for 2025-01-01 was $345,334, a difference of $25,148 (7.9%) versus the prior year and $-3,240 versus the prior month.

    For the 2025-01-01 period, Mobile had 1,230 MLS listings, a difference of -56 listings (-4%) versus the prior month and 245 listings (25%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Mobile (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 93 days 1,809 sqft
    2018-02-01 89 days 1,824 sqft
    2018-03-01 60 days 1,856 sqft
    2018-04-01 60 days 1,865 sqft
    2018-05-01 64 days 1,906 sqft
    2018-06-01 67 days 1,929 sqft
    2018-07-01 71 days 1,906 sqft
    2018-08-01 68 days 1,894 sqft
    2018-09-01 73 days 1,866 sqft
    2018-10-01 75 days 1,857 sqft
    2018-11-01 79 days 1,827 sqft
    2018-12-01 85 days 1,802 sqft
    2019-01-01 85 days 1,771 sqft
    2019-02-01 81 days 1,783 sqft
    2019-03-01 71 days 1,811 sqft
    2019-04-01 59 days 1,825 sqft
    2019-05-01 57 days 1,843 sqft
    2019-06-01 61 days 1,912 sqft
    2019-07-01 65 days 1,900 sqft
    2019-08-01 66 days 1,897 sqft
    2019-09-01 67 days 1,892 sqft
    2019-10-01 68 days 1,892 sqft
    2019-11-01 72 days 1,887 sqft
    2019-12-01 78 days 1,864 sqft
    2020-01-01 80 days 1,845 sqft
    2020-02-01 68 days 1,900 sqft
    2020-03-01 55 days 1,909 sqft
    2020-04-01 58 days 1,893 sqft
    2020-05-01 63 days 1,930 sqft
    2020-06-01 58 days 1,950 sqft
    2020-07-01 53 days 1,975 sqft
    2020-08-01 47 days 2,000 sqft
    2020-09-01 43 days 1,995 sqft
    2020-10-01 53 days 2,017 sqft
    2020-11-01 50 days 1,994 sqft
    2020-12-01 54 days 1,947 sqft
    2021-01-01 58 days 1,928 sqft
    2021-02-01 47 days 1,919 sqft
    2021-03-01 31 days 1,877 sqft
    2021-04-01 28 days 1,805 sqft
    2021-05-01 24 days 1,803 sqft
    2021-06-01 26 days 1,824 sqft
    2021-07-01 26 days 1,789 sqft
    2021-08-01 29 days 1,734 sqft
    2021-09-01 39 days 1,730 sqft
    2021-10-01 43 days 1,717 sqft
    2021-11-01 41 days 1,712 sqft
    2021-12-01 43 days 1,724 sqft
    2022-01-01 45 days 1,754 sqft
    2022-02-01 36 days 1,746 sqft
    2022-03-01 26 days 1,799 sqft
    2022-04-01 28 days 1,792 sqft
    2022-05-01 26 days 1,824 sqft
    2022-06-01 30 days 1,779 sqft
    2022-07-01 39 days 1,823 sqft
    2022-08-01 42 days 1,858 sqft
    2022-09-01 47 days 1,882 sqft
    2022-10-01 46 days 1,890 sqft
    2022-11-01 53 days 1,873 sqft
    2022-12-01 60 days 1,828 sqft
    2023-01-01 68 days 1,797 sqft
    2023-02-01 59 days 1,805 sqft
    2023-03-01 45 days 1,736 sqft
    2023-04-01 41 days 1,838 sqft
    2023-05-01 41 days 1,823 sqft
    2023-06-01 45 days 1,849 sqft
    2023-07-01 42 days 1,838 sqft
    2023-08-01 40 days 1,812 sqft
    2023-09-01 45 days 1,837 sqft
    2023-10-01 46 days 1,826 sqft
    2023-11-01 50 days 1,820 sqft
    2023-12-01 59 days 1,812 sqft
    2024-01-01 67 days 1,779 sqft
    2024-02-01 64 days 1,779 sqft
    2024-03-01 47 days 1,787 sqft
    2024-04-01 46 days 1,792 sqft
    2024-05-01 48 days 1,813 sqft
    2024-06-01 50 days 1,814 sqft
    2024-07-01 52 days 1,791 sqft
    2024-08-01 59 days 1,791 sqft
    2024-09-01 59 days 1,800 sqft
    2024-10-01 64 days 1,830 sqft
    2024-11-01 68 days 1,840 sqft
    2024-12-01 75 days 1,830 sqft
    2025-01-01 0 days 1,804 sqft
    Mobile's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Mobile's median square footage for active listings during the 2025-01-01 period was 1,804 sqft. One year prior, the average listing was 1,779 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.