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 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.