Monroe VA Loan Rates, Closing Costs & Stats

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 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 55 lenders originated 208 VA loans during 2022. The total origination value was $49,520,000, with an average VA loan value of $238,077.

Monroe VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Monroe averaged -0.24% for the week of 2023-11-24, compared to the national average (all VA variants) of 0% for the same period.

Monroe's average VA mortgage closing costs are $4,925.

The average rate for the prior week (2023-11-17) was 6.9% and one month ago for the week of 2023-10-20, the average rate was 7.43%.

The average rate one year ago was 6.15%.

For refis of the same type during the week of 2023-11-24, the average rate was -1.19%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 39 5.02% $4,675
QUICKEN LOANS, LLC 21 4.06% $8,675
MOVEMENT MORTGAGE, LLC 14 5.27% $4,835
Eagle Bank and Trust Company 12 4.80% $7,754
Assurance Financial Group, L.L.C. 11 5.77% $8,418
NEW DAY FINANCIAL, LLC 10 5.27% $8,583
Origin Bank 10 4.89% $8,148
UNITED WHOLESALE MORTGAGE, LLC 6 5.35% $5,377
ACADEMY MORTGAGE CORPORATION 5 5.48% $8,541
USAA Federal Savings Bank 4 4.53% $11,599
NAVY FEDERAL CREDIT UNION 4 5.03% $4,586
GMFS LLC 3 3.13% $4,047
Mr. Cooper ( Nationstar Mortgage ) 3 4.04% $5,579
PENNYMAC LOAN SERVICES, LLC 3 3.41% $7,434
DSLD MORTGAGE, LLC 3 6.21% $3,377
LOANDEPOT.COM, LLC 3 5.83% $7,898
FREEDOM MORTGAGE CORPORATION 3 4.83% $10,251
CROSSCOUNTRY MORTGAGE, LLC 2 3.81% $2,990
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 4.31% $2,516
Regions Bank 2 4.44% $7,916
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 4.50% $7,293
Magnolia Bank 2 4.25% $7,245
MID AMERICA MORTGAGE, INC. 1 5.63% $13,493
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.88% $11,975
NATIONS DIRECT MORTGAGE, LLC 1 4.13% $8,134
PENTAGON FEDERAL CREDIT UNION 1 2.63% $2,734
PLANET HOME LENDING, LLC 1 3.50% $12,344
Southern First Bank 1 5.13% $3,064
SOVEREIGN LENDING GROUP INCORPORATED 1 2.75% $3,947
The Federal Savings Bank 1 5.75% $14,729
Trustmark National Bank 1 5.13% $8,833
VILLAGE CAPITAL MORTGAGE 1 2.75% $3,867
Academy Bank 1 4.25% $12,694
Wells Fargo Bank 1 2.25% $5,717
AMERISAVE MORTGAGE CORPORATION 1 4.13% $7,094
BancorpSouth 1 6.00% $7,363
BROKER SOLUTIONS, INC. 1 5.75% $7,391
CALIBER HOME LOANS, INC. 1 3.99% $3,769
Carrington Mortgage Services, LLC 1 4.38% $1,618
Century Next Bank 1 4.75% $4,637
Citizens Bank 1 5.13% $4,637
CMG MORTGAGE, INC. 1 2.75% $2,268
Cross Keys Bank 1 5.75% $4,029
DRAPER AND KRAMER MORTGAGE CORP. 1 4.50% $6,698
EMM LOANS LLC 1 5.13% $3,056
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 5.63% $0
First Horizon Bank 1 5.63% $5,369
Flagstar Bank, FSB 1 5.25% $8,512
GUILD MORTGAGE COMPANY 1 5.63% $7,627
HOME POINT FINANCIAL CORPORATION 1 4.99% $7,759
Hometown Equity Mortgage, LLC 1 5.75% $2,999
Hometown Lenders, Inc. 1 2.88% $2,438
Lakeview Community Capital, LLC 1 2.99% $3,435
LAKEVIEW LOAN SERVICING, LLC 1 3.25% $2,087
Low VA Rates, LLC 1 5.25% $0

The top Monroe VA lender as defined by loan originations is Mortgage Research Center, LLC, with 39 VA loans originated. Their average total fees are $4,675, which is $4,001 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Monroe VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,675), MOVEMENT MORTGAGE, LLC ($4,835), Eagle Bank and Trust Company ($7,754), Origin Bank ($8,148) and Assurance Financial Group, L.L.C. ($8,418).

The lowest rate Monroe VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.06%), Eagle Bank and Trust Company (4.80%), Origin Bank (4.89%), Mortgage Research Center, LLC (5.02%) and MOVEMENT MORTGAGE, LLC (5.27%).


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%) $228,292 (-0.8%) 0.70 880
2018-02-01 $185,000 (2.8%) $223,439 (-3.3%) 0.67 935
2018-03-01 $185,450 (3.1%) $223,488 (-2.0%) 0.65 950
2018-04-01 $185,500 (0.3%) $223,821 (-3.2%) 0.63 1,012
2018-05-01 $189,975 (0.4%) $226,015 (-2.3%) 0.63 1,055
2018-06-01 $193,000 (-1.0%) $231,596 (-0.8%) 0.64 1,043
2018-07-01 $198,000 (4.2%) $235,102 (1.0%) 0.66 1,097
2018-08-01 $191,750 (2.6%) $233,161 (0.6%) 0.64 1,115
2018-09-01 $189,999 (0.8%) $232,870 (-0.4%) 0.64 1,102
2018-10-01 $187,500 (-0.5%) $228,874 (-2.0%) 0.64 1,093
2018-11-01 $185,000 (-2.4%) $226,747 (-2.7%) 0.63 1,066
2018-12-01 $184,900 (-5.2%) $224,655 (-2.4%) 0.64 998
2019-01-01 $186,375 (-0.6%) $227,924 (-0.2%) 0.64 956
2019-02-01 $187,250 (1.2%) $227,163 (1.7%) 0.63 1,009
2019-03-01 $190,714 (2.8%) $229,763 (2.8%) 0.62 1,066
2019-04-01 $196,750 (6.1%) $233,076 (4.1%) 0.62 1,121
2019-05-01 $195,000 (2.7%) $230,547 (2.0%) 0.61 1,134
2019-06-01 $194,950 (1.0%) $231,113 (-0.2%) 0.61 1,118
2019-07-01 $196,100 (-1.0%) $233,020 (-0.9%) 0.61 1,133
2019-08-01 $195,318 (1.9%) $231,967 (-0.5%) 0.62 1,107
2019-09-01 $192,045 (1.1%) $230,211 (-1.1%) 0.61 1,087
2019-10-01 $192,614 (2.7%) $232,716 (1.7%) 0.62 1,039
2019-11-01 $199,250 (7.7%) $236,941 (4.5%) 0.65 988
2019-12-01 $199,900 (8.1%) $237,349 (5.7%) 0.67 931
2020-01-01 $207,750 (11.5%) $239,627 (5.1%) 0.69 714
2020-02-01 $199,900 (6.8%) $231,669 (2.0%) 0.66 706
2020-03-01 $199,900 (4.8%) $230,519 (0.3%) 0.63 670
2020-04-01 $199,450 (1.4%) $229,181 (-1.7%) 0.62 637
2020-05-01 $209,000 (7.2%) $236,523 (2.6%) 0.64 577
2020-06-01 $209,998 (7.7%) $243,949 (5.6%) 0.62 566
2020-07-01 $215,000 (9.6%) $247,481 (6.2%) 0.62 536
2020-08-01 $219,000 (12.1%) $263,520 (13.6%) 0.63 521
2020-09-01 $214,925 (11.9%) $264,025 (14.7%) 0.62 489
2020-10-01 $219,900 (14.2%) $267,446 (14.9%) 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 $231,950 (16.3%) $267,496 (16.7%) 0.63 257
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%) $303,366 (15.1%) 0.64 273
2021-09-01 $239,125 (11.3%) $308,000 (16.7%) 0.64 256
2021-10-01 $229,000 (4.1%) $289,585 (8.3%) 0.61 216
2021-11-01 $221,475 (1.2%) $306,478 (15.9%) 0.59 205
2021-12-01 $231,750 (5.5%) $312,457 (18.6%) 0.63 201
2022-01-01 $246,500 (17.4%) $306,231 (16.5%) 0.67 185
2022-02-01 $260,723 (25.7%) $316,175 (19.2%) 0.68 173
2022-03-01 $254,975 (16.0%) $300,191 (11.1%) 0.64 174
2022-04-01 $260,000 (12.1%) $310,493 (16.1%) 0.62 168
2022-05-01 $249,925 (9.1%) $292,396 (9.8%) 0.57 180
2022-06-01 $247,000 (6.6%) $287,871 (3.0%) 0.55 214
2022-07-01 $250,000 (4.2%) $300,120 (0.6%) 0.56 233
2022-08-01 $249,950 (3.9%) $319,970 (5.5%) 0.58 255
2022-09-01 $251,200 (5.1%) $321,731 (4.5%) 0.59 262
2022-10-01 $242,450 (5.9%) $336,414 (16.2%) 0.57 257
2022-11-01 $239,225 (8.0%) $322,190 (5.1%) 0.58 283
2022-12-01 $238,450 (2.9%) $310,052 (-0.8%) 0.59 286
2023-01-01 $238,500 (-3.3%) $299,198 (-2.3%) 0.59 255
2023-02-01 $243,500 (-6.6%) $312,704 (-1.1%) 0.59 251
2023-03-01 $241,250 (-5.4%) $311,997 (3.9%) 0.57 270
2023-04-01 $240,000 (-7.7%) $303,742 (-2.2%) 0.56 261
2023-05-01 $243,720 (-2.5%) $304,913 (4.3%) 0.55 285
2023-06-01 $246,725 (-0.1%) $310,300 (7.8%) 0.55 295
2023-07-01 $259,000 (3.6%) $319,101 (6.3%) 0.59 314
2023-08-01 $251,290 (0.5%) $316,131 (-1.2%) 0.58 334
2023-09-01 $250,000 (-0.5%) $312,234 (-3.0%) 0.58 336
2023-10-01 $249,500 (2.9%) $306,530 (-8.9%) 0.59 333
Monroe's median listing price for 2023-10-01 was $249,500, a difference of $7,050 (2.9%) versus the prior year and $-500 versus the prior month.

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

Monroe's average listing price for 2023-10-01 was $306,530, a difference of $-29,884 (-8.9%) versus the prior year and $-5,704 versus the prior month.

For the 2023-10-01 period, Monroe had 333 MLS listings, a difference of -3 listings (-1%) versus the prior month and 76 listings (30%) 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 1,974 sqft
2018-02-01 97 days 1,942 sqft
2018-03-01 92 days 1,949 sqft
2018-04-01 80 days 1,960 sqft
2018-05-01 75 days 1,958 sqft
2018-06-01 72 days 1,980 sqft
2018-07-01 72 days 1,983 sqft
2018-08-01 73 days 1,946 sqft
2018-09-01 80 days 1,937 sqft
2018-10-01 86 days 1,904 sqft
2018-11-01 92 days 1,909 sqft
2018-12-01 102 days 1,913 sqft
2019-01-01 116 days 1,922 sqft
2019-02-01 109 days 1,925 sqft
2019-03-01 94 days 1,938 sqft
2019-04-01 77 days 1,952 sqft
2019-05-01 78 days 1,945 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 92 days 1,940 sqft
2019-10-01 94 days 1,955 sqft
2019-11-01 99 days 1,978 sqft
2019-12-01 108 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 2,009 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 2,087 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 2,014 sqft
2021-10-01 66 days 2,002 sqft
2021-11-01 58 days 1,934 sqft
2021-12-01 58 days 1,938 sqft
2022-01-01 59 days 1,958 sqft
2022-02-01 47 days 2,049 sqft
2022-03-01 49 days 2,064 sqft
2022-04-01 41 days 2,062 sqft
2022-05-01 32 days 2,000 sqft
2022-06-01 31 days 2,018 sqft
2022-07-01 39 days 2,090 sqft
2022-08-01 52 days 2,109 sqft
2022-09-01 59 days 2,100 sqft
2022-10-01 54 days 2,104 sqft
2022-11-01 52 days 2,044 sqft
2022-12-01 60 days 1,949 sqft
2023-01-01 82 days 1,930 sqft
2023-02-01 83 days 1,964 sqft
2023-03-01 60 days 2,009 sqft
2023-04-01 59 days 2,000 sqft
2023-05-01 53 days 1,978 sqft
2023-06-01 57 days 2,006 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 2,018 sqft
Monroe's median listing age (time on market) for 2023-10-01 was 67 days. This is 24% longer than the same period one year ago.

Monroe's median square footage for active listings during the 2023-10-01 period was 2,018 sqft. One year prior, the average listing was 2,104 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.