Monroe VA Loan Rates, Closing Costs & Stats

MONROE, LA

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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.

    Monroe's 39 lenders originated 165 VA loans during 2023. The total origination value was $37,515,000, with an average VA loan value of $227,364.

    Monroe VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Monroe averaged 6.96% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Monroe's average VA mortgage closing costs are $4,989.

    The average rate for the prior week (2024-04-12) was 6.99% and one month ago for the week of 2024-03-15, the average rate was 6.65%.

    The average rate one year ago was 6.54%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.95%.

    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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Monroe level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 38 6.97% $2,964
    Origin Bank 18 6.27% $3,793
    Eagle Bank and Trust Company 11 6.26% $5,974
    QUICKEN LOANS, LLC 8 6.31% $10,704
    MOVEMENT MORTGAGE, LLC 7 6.84% $5,089
    Assurance Financial Group, L.L.C. 7 6.66% $6,417
    GMFS LLC 7 6.61% $3,252
    MORTGAGE SOLUTIONS OF COLORADO, LLC 6 7.06% $1,565
    UNITED WHOLESALE MORTGAGE, LLC 5 7.11% $8,486
    FREEDOM MORTGAGE CORPORATION 5 6.68% $7,720
    NAVY FEDERAL CREDIT UNION 4 5.50% $1,687
    NEWREZ LLC 4 6.72% $12,620
    DSLD MORTGAGE, LLC 3 6.41% $5,193
    NEW DAY FINANCIAL, LLC 3 7.17% $7,363
    Mr. Cooper ( Nationstar Mortgage ) 2 5.38% $9,080
    JPMorgan Chase Bank 2 7.00% $1,975
    AMERICAN FINANCIAL RESOURCES, INC. 2 7.19% $6,921
    Barrington Bank & Trust Company, N.A. 2 7.00% $6,070
    Regions Bank 2 6.25% $10,333
    Magnolia Bank 2 6.37% $19,715
    PLANET HOME LENDING, LLC 2 6.62% $8,566
    VILLAGE CAPITAL MORTGAGE 1 6.25% $8,063
    BancorpSouth 1 5.88% $5,611
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.63% $13,589
    BROKER SOLUTIONS, INC. 1 6.75% $4,026
    CRESCENT MORTGAGE COMPANY 1 5.50% $6,127
    CROSSCOUNTRY MORTGAGE, LLC 1 7.75% $3,278
    Equity Prime Mortgage LLC 1 7.25% $4,205
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 7.38% $6,617
    First Horizon Bank 1 6.00% $4,011
    Gateway First Bank 1 7.75% $600
    HOMESIDE FINANCIAL, LLC 1 7.25% $22,034
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $10,549
    LOANDEPOT.COM, LLC 1 7.25% $3,082
    PENNYMAC LOAN SERVICES, LLC 1 5.00% $3,406
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.75% $9,614
    STOCKTON MORTGAGE CORPORATION 1 8.13% $6,730
    The Huntington National Bank 1 6.50% $7,991
    USAA Federal Savings Bank 1 6.25% $10,632

    The top Monroe VA lender as defined by loan originations is Mortgage Research Center, LLC, with 38 VA loans originated. Their average total fees are $2,964, which is $829 lower than the next largest lender, Origin Bank.

    The lowest fee Monroe VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($2,964), Origin Bank ($3,793), Eagle Bank and Trust Company ($5,974), .

    The lowest rate Monroe VA lenders (with over 10 loans originated) are Eagle Bank and Trust Company (6.26%), Origin Bank (6.27%), Mortgage Research Center, LLC (6.97%), .

    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 $187,500 (2.8%) $228,320 (-0.8%) 0.70 881
    2018-02-01 $185,000 (2.8%) $223,473 (-3.3%) 0.67 937
    2018-03-01 $185,900 (3.4%) $223,521 (-1.9%) 0.65 951
    2018-04-01 $185,475 (0.3%) $223,703 (-3.2%) 0.63 1,015
    2018-05-01 $190,000 (0.5%) $226,054 (-2.3%) 0.63 1,060
    2018-06-01 $193,500 (-0.8%) $231,702 (-0.7%) 0.65 1,046
    2018-07-01 $198,000 (3.3%) $235,190 (1.1%) 0.66 1,099
    2018-08-01 $192,500 (2.8%) $233,286 (0.6%) 0.64 1,118
    2018-09-01 $191,500 (1.5%) $233,005 (0.1%) 0.64 1,107
    2018-10-01 $187,875 (-0.3%) $229,028 (-1.4%) 0.64 1,098
    2018-11-01 $185,000 (-2.8%) $226,731 (-2.7%) 0.63 1,068
    2018-12-01 $184,900 (-5.2%) $224,592 (-2.4%) 0.64 999
    2019-01-01 $186,125 (-0.7%) $227,845 (-0.2%) 0.64 957
    2019-02-01 $187,250 (1.2%) $227,088 (1.6%) 0.63 1,010
    2019-03-01 $190,714 (2.6%) $229,648 (2.7%) 0.62 1,068
    2019-04-01 $196,750 (6.1%) $232,914 (4.1%) 0.62 1,124
    2019-05-01 $195,000 (2.6%) $230,386 (1.9%) 0.61 1,137
    2019-06-01 $194,950 (0.8%) $231,020 (-0.3%) 0.61 1,120
    2019-07-01 $196,100 (-1.0%) $232,987 (-0.9%) 0.61 1,135
    2019-08-01 $195,032 (1.3%) $231,934 (-0.6%) 0.62 1,110
    2019-09-01 $191,780 (0.2%) $230,085 (-1.3%) 0.61 1,090
    2019-10-01 $192,486 (2.5%) $232,607 (1.6%) 0.62 1,041
    2019-11-01 $199,250 (7.7%) $236,941 (4.5%) 0.65 988
    2019-12-01 $199,900 (8.1%) $237,368 (5.7%) 0.67 932
    2020-01-01 $207,750 (11.6%) $239,627 (5.2%) 0.69 714
    2020-02-01 $199,900 (6.8%) $231,669 (2.0%) 0.65 706
    2020-03-01 $199,900 (4.8%) $230,519 (0.4%) 0.63 670
    2020-04-01 $199,450 (1.4%) $229,181 (-1.6%) 0.62 637
    2020-05-01 $209,000 (7.2%) $236,523 (2.7%) 0.64 577
    2020-06-01 $209,998 (7.7%) $243,949 (5.6%) 0.62 566
    2020-07-01 $215,000 (9.6%) $247,460 (6.2%) 0.62 536
    2020-08-01 $219,000 (12.3%) $263,520 (13.6%) 0.63 521
    2020-09-01 $214,925 (12.1%) $264,025 (14.8%) 0.62 489
    2020-10-01 $219,900 (14.2%) $267,446 (15.0%) 0.63 454
    2020-11-01 $218,864 (9.8%) $264,481 (11.6%) 0.64 419
    2020-12-01 $219,675 (9.9%) $263,476 (11.0%) 0.65 382
    2021-01-01 $210,000 (1.1%) $262,871 (9.7%) 0.63 348
    2021-02-01 $207,500 (3.8%) $265,241 (14.5%) 0.60 326
    2021-03-01 $219,900 (10.0%) $270,142 (17.2%) 0.62 285
    2021-04-01 $230,700 (15.7%) $267,328 (16.7%) 0.62 258
    2021-05-01 $229,000 (9.6%) $266,419 (12.6%) 0.61 235
    2021-06-01 $231,700 (10.3%) $279,402 (14.5%) 0.61 247
    2021-07-01 $239,900 (11.6%) $298,300 (20.5%) 0.63 262
    2021-08-01 $240,500 (9.8%) $303,470 (15.2%) 0.64 274
    2021-09-01 $239,375 (11.4%) $308,450 (16.8%) 0.64 257
    2021-10-01 $229,000 (4.1%) $290,209 (8.5%) 0.61 217
    2021-11-01 $221,600 (1.3%) $306,736 (16.0%) 0.59 206
    2021-12-01 $231,750 (5.5%) $312,309 (18.5%) 0.63 203
    2022-01-01 $246,500 (17.4%) $306,023 (16.4%) 0.67 187
    2022-02-01 $260,723 (25.7%) $315,793 (19.1%) 0.68 175
    2022-03-01 $254,975 (16.0%) $300,594 (11.3%) 0.64 176
    2022-04-01 $260,000 (12.7%) $310,949 (16.3%) 0.62 169
    2022-05-01 $249,950 (9.2%) $294,123 (10.4%) 0.57 181
    2022-06-01 $247,000 (6.6%) $289,553 (3.6%) 0.55 216
    2022-07-01 $250,000 (4.2%) $300,403 (0.7%) 0.56 235
    2022-08-01 $253,225 (5.3%) $321,084 (5.8%) 0.59 257
    2022-09-01 $253,725 (6.0%) $322,550 (4.6%) 0.59 263
    2022-10-01 $245,000 (7.0%) $337,213 (16.2%) 0.58 258
    2022-11-01 $239,450 (8.1%) $322,927 (5.3%) 0.58 284
    2022-12-01 $238,450 (2.9%) $310,828 (-0.5%) 0.59 287
    2023-01-01 $238,500 (-3.3%) $299,300 (-2.2%) 0.59 257
    2023-02-01 $243,500 (-6.6%) $312,148 (-1.2%) 0.59 254
    2023-03-01 $241,250 (-5.4%) $311,463 (3.6%) 0.57 272
    2023-04-01 $240,000 (-7.7%) $303,732 (-2.3%) 0.56 263
    2023-05-01 $243,720 (-2.5%) $304,524 (3.5%) 0.55 287
    2023-06-01 $246,575 (-0.2%) $309,551 (6.9%) 0.55 296
    2023-07-01 $259,000 (3.6%) $319,101 (6.2%) 0.59 314
    2023-08-01 $251,290 (-0.8%) $316,131 (-1.5%) 0.58 334
    2023-09-01 $250,000 (-1.5%) $312,911 (-3.0%) 0.58 336
    2023-10-01 $249,500 (1.8%) $307,231 (-8.9%) 0.59 334
    2023-11-01 $244,000 (1.9%) $304,974 (-5.6%) 0.58 362
    2023-12-01 $240,000 (0.7%) $303,713 (-2.3%) 0.59 365
    2024-01-01 $236,500 (-0.8%) $297,523 (-0.6%) 0.58 350
    2024-02-01 $239,925 (-1.5%) $291,893 (-6.5%) 0.58 349
    2024-03-01 $250,000 (3.6%) $299,160 (-4.0%) 0.59 360
    Monroe's median listing price for 2024-03-01 was $250,000, a difference of $8,750 (3.6%) versus the prior year and $10,075 versus the prior month.

    Monroe's median listing price comes in at 59% of the national average.

    Monroe's average listing price for 2024-03-01 was $299,160, a difference of $-12,303 (-4.0%) versus the prior year and $7,267 versus the prior month.

    For the 2024-03-01 period, Monroe had 360 MLS listings, a difference of 11 listings (3%) versus the prior month and 88 listings (32%) 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
    2018-01-01 100 days 1,976 sqft
    2018-02-01 98 days 1,943 sqft
    2018-03-01 93 days 1,950 sqft
    2018-04-01 80 days 1,962 sqft
    2018-05-01 74 days 1,961 sqft
    2018-06-01 72 days 1,983 sqft
    2018-07-01 72 days 1,985 sqft
    2018-08-01 73 days 1,947 sqft
    2018-09-01 80 days 1,939 sqft
    2018-10-01 86 days 1,906 sqft
    2018-11-01 92 days 1,909 sqft
    2018-12-01 102 days 1,914 sqft
    2019-01-01 116 days 1,923 sqft
    2019-02-01 109 days 1,926 sqft
    2019-03-01 93 days 1,937 sqft
    2019-04-01 77 days 1,950 sqft
    2019-05-01 78 days 1,943 sqft
    2019-06-01 81 days 1,970 sqft
    2019-07-01 84 days 1,960 sqft
    2019-08-01 89 days 1,951 sqft
    2019-09-01 93 days 1,939 sqft
    2019-10-01 94 days 1,954 sqft
    2019-11-01 99 days 1,978 sqft
    2019-12-01 107 days 1,981 sqft
    2020-01-01 115 days 1,990 sqft
    2020-02-01 120 days 1,922 sqft
    2020-03-01 106 days 1,936 sqft
    2020-04-01 96 days 1,941 sqft
    2020-05-01 91 days 2,012 sqft
    2020-06-01 83 days 2,005 sqft
    2020-07-01 63 days 2,006 sqft
    2020-08-01 65 days 2,010 sqft
    2020-09-01 74 days 2,026 sqft
    2020-10-01 79 days 2,082 sqft
    2020-11-01 90 days 2,060 sqft
    2020-12-01 88 days 2,049 sqft
    2021-01-01 86 days 2,050 sqft
    2021-02-01 79 days 2,068 sqft
    2021-03-01 71 days 2,074 sqft
    2021-04-01 69 days 2,090 sqft
    2021-05-01 50 days 2,052 sqft
    2021-06-01 44 days 2,081 sqft
    2021-07-01 44 days 2,044 sqft
    2021-08-01 43 days 2,075 sqft
    2021-09-01 50 days 2,019 sqft
    2021-10-01 66 days 2,009 sqft
    2021-11-01 58 days 1,937 sqft
    2021-12-01 58 days 1,953 sqft
    2022-01-01 60 days 1,971 sqft
    2022-02-01 48 days 2,064 sqft
    2022-03-01 50 days 2,076 sqft
    2022-04-01 44 days 2,064 sqft
    2022-05-01 32 days 2,010 sqft
    2022-06-01 31 days 2,027 sqft
    2022-07-01 40 days 2,096 sqft
    2022-08-01 52 days 2,114 sqft
    2022-09-01 59 days 2,103 sqft
    2022-10-01 54 days 2,114 sqft
    2022-11-01 52 days 2,051 sqft
    2022-12-01 60 days 1,951 sqft
    2023-01-01 82 days 1,930 sqft
    2023-02-01 83 days 1,966 sqft
    2023-03-01 60 days 2,010 sqft
    2023-04-01 60 days 2,000 sqft
    2023-05-01 53 days 1,984 sqft
    2023-06-01 57 days 2,001 sqft
    2023-07-01 64 days 2,073 sqft
    2023-08-01 61 days 2,015 sqft
    2023-09-01 65 days 2,017 sqft
    2023-10-01 67 days 2,020 sqft
    2023-11-01 71 days 2,020 sqft
    2023-12-01 75 days 1,981 sqft
    2024-01-01 90 days 1,950 sqft
    2024-02-01 87 days 1,981 sqft
    2024-03-01 66 days 1,985 sqft
    Monroe's median listing age (time on market) for 2024-03-01 was 66 days. This is 9% longer than the same period one year ago.

    Monroe's median square footage for active listings during the 2024-03-01 period was 1,985 sqft. One year prior, the average listing was 2,010 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.