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 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 6.05% for the week of 2024-10-11, compared to the national average (all VA variants) of 5.854% for the same period.

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

The average rate for the prior week (2024-10-04) was 6.02% and one month ago for the week of 2024-09-06, the average rate was 6.21%.

The average rate one year ago was 7.48%.

For refis of the same type during the week of 2024-10-11, the average rate was 6.05%.

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
2024-04-01 $259,000 (7.9%) $313,081 (3.1%) 0.60 377
2024-05-01 $268,375 (10.1%) $337,027 (10.7%) 0.61 377
2024-06-01 $259,000 (5.0%) $337,342 (9.0%) 0.58 387
2024-07-01 $270,250 (4.3%) $333,345 (4.5%) 0.62 394
2024-08-01 $259,000 (3.1%) $314,332 (-0.6%) 0.60 423
2024-09-01 $249,400 (-0.2%) $301,955 (-3.5%) 0.59 434
Monroe's median listing price for 2024-09-01 was $249,400, a difference of $-600 (-0.2%) versus the prior year and $-9,600 versus the prior month.

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

Monroe's average listing price for 2024-09-01 was $301,955, a difference of $-10,956 (-3.5%) versus the prior year and $-12,377 versus the prior month.

For the 2024-09-01 period, Monroe had 434 MLS listings, a difference of 11 listings (3%) versus the prior month and 98 listings (29%) 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
2024-04-01 57 days 2,036 sqft
2024-05-01 58 days 2,067 sqft
2024-06-01 64 days 2,015 sqft
2024-07-01 65 days 2,000 sqft
2024-08-01 61 days 1,959 sqft
2024-09-01 61 days 1,905 sqft
Monroe's median listing age (time on market) for 2024-09-01 was 61 days. This is -7% shorter than the same period one year ago.

Monroe's median square footage for active listings during the 2024-09-01 period was 1,905 sqft. One year prior, the average listing was 2,017 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.