Monroe VA Loans

MONROE, LA

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 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.

Monroe's 60 lenders originated 436 VA loans during 2021. The total origination value was $92,890,000, with an average VA loan value of $213,050.

Monroe VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Monroe averaged 5.71% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.64% and one month ago for the week of 2022-04-08, the average rate was 4.86%.

The average rate one year ago was 2.88%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.48%.

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

Monroe VA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Monroe level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 40 2.91% $5,106
QUICKEN LOANS, LLC 35 2.58% $4,561
Eagle Bank and Trust Company 29 2.82% $6,651
MOVEMENT MORTGAGE, LLC 23 3.20% $3,380
FREEDOM MORTGAGE CORPORATION 20 2.69% $1,877
Origin Bank 19 2.79% $6,914
NEW DAY FINANCIAL, LLC 17 2.72% $6,720
Assurance Financial Group, L.L.C. 16 2.98% $6,716
PENNYMAC LOAN SERVICES, LLC 15 2.39% $4,886
LAKEVIEW LOAN SERVICING, LLC 11 2.49% $1,999
PLANET HOME LENDING, LLC 10 2.96% $4,533
GMFS LLC 10 2.88% $4,383
USAA Federal Savings Bank 10 2.90% $5,260
ACADEMY MORTGAGE CORPORATION 7 3.04% $4,837
HOME POINT FINANCIAL CORPORATION 7 2.78% $4,329
CALIBER HOME LOANS, INC. 7 3.05% $3,072
LOANDEPOT.COM, LLC 7 2.46% $3,581
Barrington Bank & Trust Company, N.A. 6 2.69% $4,257
Citizens Bank 5 2.78% $3,922
Low VA Rates, LLC 4 2.34% $2,910
The Federal Savings Bank 4 2.69% $5,545
Cross Keys Bank 4 2.63% $6,034
NAVY FEDERAL CREDIT UNION 4 2.75% $6,440
Mr. Cooper ( Nationstar Mortgage ) 3 3.33% $5,103
CLEARPATH LENDING 3 2.25% $4,290
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 4.00% $1,848
DSLD MORTGAGE, LLC 3 2.64% $1,203
VILLAGE CAPITAL & INVESTMENT LLC 3 2.42% $1,582
AMERISAVE MORTGAGE CORPORATION 3 2.58% $4,865
First Horizon Bank 3 2.96% $6,535
Lakeview Community Capital, LLC 2 2.56% $1,841
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 3.38% $7,507
Gateway First Bank 2 2.56% $3,468
UNITED WHOLESALE MORTGAGE, LLC 2 2.72% $3,949
Mid-Continent Funding, Inc. 2 3.00% $2,620
ACCELERATE MORTGAGE, LLC 2 2.25% $3,837
NP, Inc. 2 2.31% $5,500
NEWREZ LLC 2 3.12% $3,372
Wyndham Capital Mortgage, Inc. 1 2.38% $2,435
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.63% $3,915
AmeriHome Mortgage Company, LLC 1 3.13% $2,856
Ameris Bank 1 2.88% $7,905
BancorpSouth Bank 1 3.50% $2,485
BARKSDALE 1 2.50% $6,183
Carrington Mortgage Services, LLC 1 2.75% $3,165
Century Next Bank 1 3.13% $10,571
CROSSCOUNTRY MORTGAGE, LLC 1 3.25% $10,734
Equity Prime Mortgage LLC 1 2.88% $8,474
GUARANTEED RATE, INC. 1 2.25% $3,866
GUILD MORTGAGE COMPANY 1 3.13% $16,647
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.25% $2,979
Nations Lending Corporation 1 2.75% $16,620
NBKC BANK 1 3.13% $8,692
OCMBC, INC. 1 2.75% $5,584
PENTAGON FEDERAL CREDIT UNION 1 2.38% $0
Reliant Bank 1 2.25% $1,616
SOVEREIGN LENDING GROUP INCORPORATED 1 2.75% $2,310
The Huntington National Bank 1 2.50% $14,427
Wells Fargo Bank 1 2.88% $2,895
Academy Bank 1 2.63% $5,400

The top Monroe VA lender as defined by loan originations is Mortgage Research Center, LLC, with 40 VA loans originated. Their average total fees are $5,106, which is $545 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Monroe VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($1,877), LAKEVIEW LOAN SERVICING, LLC ($1,999), MOVEMENT MORTGAGE, LLC ($3,380), GMFS LLC ($4,383) and PLANET HOME LENDING, LLC ($4,533).

The lowest rate Monroe VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.39%), LAKEVIEW LOAN SERVICING, LLC (2.49%), QUICKEN LOANS, LLC (2.58%), FREEDOM MORTGAGE CORPORATION (2.69%) and NEW DAY FINANCIAL, LLC (2.72%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Monroe (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 $209,950 (5.9%) $246,029 (-1.0%) 0.77 767
2018-02-01 $208,500 (5.1%) $243,784 (-2.3%) 0.75 804
2018-03-01 $209,000 (5.5%) $243,046 (-1.3%) 0.72 826
2018-04-01 $206,000 (-0.4%) $241,535 (-2.9%) 0.69 888
2018-05-01 $209,000 (0.5%) $244,362 (-1.6%) 0.70 925
2018-06-01 $209,900 (-0.1%) $249,879 (0.4%) 0.70 922
2018-07-01 $211,500 (1.0%) $252,363 (1.2%) 0.71 975
2018-08-01 $209,900 (1.9%) $250,267 (0.9%) 0.70 998
2018-09-01 $209,900 (0.7%) $249,283 (0.3%) 0.70 983
2018-10-01 $204,500 (-1.6%) $244,516 (-1.5%) 0.68 972
2018-11-01 $200,000 (-5.7%) $242,074 (-3.1%) 0.67 943
2018-12-01 $199,900 (-5.7%) $239,221 (-3.3%) 0.68 887
2019-01-01 $199,950 (-4.8%) $241,992 (-1.6%) 0.69 857
2019-02-01 $199,900 (-4.1%) $240,070 (-1.5%) 0.67 904
2019-03-01 $206,371 (-1.3%) $243,043 (0.0%) 0.67 961
2019-04-01 $215,000 (4.4%) $246,219 (1.9%) 0.68 1,019
2019-05-01 $212,750 (1.8%) $243,192 (-0.5%) 0.66 1,020
2019-06-01 $210,000 (0.1%) $243,476 (-2.6%) 0.65 1,019
2019-07-01 $209,450 (-1.0%) $244,525 (-3.1%) 0.65 1,026
2019-08-01 $205,143 (-2.3%) $243,603 (-2.7%) 0.65 1,004
2019-09-01 $200,643 (-4.4%) $242,641 (-2.7%) 0.64 984
2019-10-01 $204,950 (0.2%) $244,401 (-0.1%) 0.65 936
2019-11-01 $212,900 (6.5%) $246,796 (2.0%) 0.69 896
2019-12-01 $215,000 (7.6%) $247,429 (3.4%) 0.72 840
2020-01-01 $222,500 (11.3%) $251,341 (3.9%) 0.74 645
2020-02-01 $219,005 (9.6%) $245,268 (2.2%) 0.71 628
2020-03-01 $216,500 (4.9%) $243,970 (0.4%) 0.68 598
2020-04-01 $221,995 (3.3%) $243,986 (-0.9%) 0.69 562
2020-05-01 $229,900 (8.1%) $252,731 (3.9%) 0.70 501
2020-06-01 $225,120 (7.2%) $259,147 (6.4%) 0.66 492
2020-07-01 $229,000 (9.3%) $261,089 (6.8%) 0.66 474
2020-08-01 $225,000 (9.7%) $274,451 (12.7%) 0.64 466
2020-09-01 $225,000 (12.1%) $274,611 (13.2%) 0.64 441
2020-10-01 $229,000 (11.7%) $279,323 (14.3%) 0.65 409
2020-11-01 $231,950 (9.0%) $280,920 (13.8%) 0.66 370
2020-12-01 $232,450 (8.1%) $276,973 (11.9%) 0.68 335
2021-01-01 $225,000 (1.1%) $276,375 (10.0%) 0.66 304
2021-02-01 $230,000 (5.0%) $279,286 (13.9%) 0.66 287
2021-03-01 $239,950 (10.8%) $289,032 (18.5%) 0.67 246
2021-04-01 $249,250 (12.3%) $287,826 (18.0%) 0.67 222
2021-05-01 $240,000 (4.4%) $282,092 (11.6%) 0.63 214
2021-06-01 $249,950 (11.0%) $294,325 (13.6%) 0.65 223
2021-07-01 $252,170 (10.1%) $310,148 (18.8%) 0.66 237
2021-08-01 $255,000 (13.3%) $314,283 (14.5%) 0.67 256
2021-09-01 $250,000 (11.1%) $320,917 (16.9%) 0.66 240
2021-10-01 $229,999 (0.4%) $303,472 (8.7%) 0.61 196
2021-11-01 $232,500 (0.2%) $319,455 (13.7%) 0.61 183
2021-12-01 $248,123 (6.7%) $318,792 (15.1%) 0.66 184
2022-01-01 $259,900 (15.5%) $318,827 (15.4%) 0.69 167
2022-02-01 $273,000 (18.7%) $326,224 (16.8%) 0.70 151
2022-03-01 $270,000 (12.5%) $317,467 (9.8%) 0.67 150
2022-04-01 $271,000 (8.7%) $330,902 (15.0%) 0.64 145
Monroe's median listing price for 2022-04-01 was $271,000, a difference of $21,750 (8.7%) versus the prior year and $1,000 versus the prior month.

Monroe's median listing price comes in at 64% of the national average.

Monroe's average listing price for 2022-04-01 was $330,902, a difference of $43,076 (15.0%) versus the prior year and $13,435 versus the prior month.

For the 2022-04-01 period, Monroe had 145 MLS listings, a difference of -5 listings (-3%) versus the prior month and -77 listings (-35%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Monroe (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 107 days 1,991 sqft
2018-02-01 107 days 1,960 sqft
2018-03-01 99 days 1,982 sqft
2018-04-01 86 days 1,976 sqft
2018-05-01 79 days 1,987 sqft
2018-06-01 75 days 2,016 sqft
2018-07-01 75 days 2,026 sqft
2018-08-01 78 days 1,984 sqft
2018-09-01 82 days 1,978 sqft
2018-10-01 93 days 1,924 sqft
2018-11-01 99 days 1,925 sqft
2018-12-01 110 days 1,924 sqft
2019-01-01 123 days 1,940 sqft
2019-02-01 121 days 1,939 sqft
2019-03-01 109 days 1,956 sqft
2019-04-01 81 days 1,968 sqft
2019-05-01 83 days 1,958 sqft
2019-06-01 87 days 1,983 sqft
2019-07-01 92 days 1,969 sqft
2019-08-01 97 days 1,961 sqft
2019-09-01 101 days 1,951 sqft
2019-10-01 104 days 1,952 sqft
2019-11-01 105 days 1,966 sqft
2019-12-01 118 days 1,970 sqft
2020-01-01 123 days 2,007 sqft
2020-02-01 130 days 1,945 sqft
2020-03-01 119 days 1,967 sqft
2020-04-01 110 days 1,978 sqft
2020-05-01 99 days 2,057 sqft
2020-06-01 87 days 2,046 sqft
2020-07-01 65 days 2,030 sqft
2020-08-01 67 days 2,015 sqft
2020-09-01 77 days 2,020 sqft
2020-10-01 81 days 2,080 sqft
2020-11-01 95 days 2,061 sqft
2020-12-01 101 days 2,061 sqft
2021-01-01 98 days 2,045 sqft
2021-02-01 80 days 2,054 sqft
2021-03-01 72 days 2,092 sqft
2021-04-01 73 days 2,145 sqft
2021-05-01 55 days 2,069 sqft
2021-06-01 46 days 2,101 sqft
2021-07-01 49 days 2,075 sqft
2021-08-01 45 days 2,112 sqft
2021-09-01 54 days 2,034 sqft
2021-10-01 70 days 2,027 sqft
2021-11-01 65 days 1,986 sqft
2021-12-01 57 days 1,985 sqft
2022-01-01 61 days 2,030 sqft
2022-02-01 58 days 2,119 sqft
2022-03-01 55 days 2,098 sqft
2022-04-01 44 days 2,149 sqft
Monroe's median listing age (time on market) for 2022-04-01 was 44 days. This is -40% shorter than the same period one year ago.

Monroe's median square footage for active listings during the 2022-04-01 period was 2,149 sqft. One year prior, the average listing was 2,145 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.