Monroe VA Loans

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 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.