Montgomery VA Loans

MONTGOMERY, AL

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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.

    Montgomery's 134 lenders originated 3,004 VA loans during 2021. The total origination value was $730,780,000, with an average VA loan value of $243,269.

    Montgomery VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Montgomery averaged 5.32% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

    The average rate for the prior week (2022-05-13) was 5.53% and one month ago for the week of 2022-04-15, the average rate was 5.29%.

    The average rate one year ago was 2.98%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.09%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Montgomery 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 Montgomery level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 224 2.96% $4,458
    Trustmark National Bank 202 2.56% $5,503
    GUILD MORTGAGE COMPANY 194 2.87% $6,894
    QUICKEN LOANS, LLC 188 2.47% $4,183
    FREEDOM MORTGAGE CORPORATION 167 2.44% $2,237
    UNITED WHOLESALE MORTGAGE, LLC 115 2.66% $4,410
    PENNYMAC LOAN SERVICES, LLC 109 2.46% $4,694
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 104 2.91% $5,549
    CROSSCOUNTRY MORTGAGE, LLC 92 3.05% $6,367
    USAA Federal Savings Bank 85 2.84% $4,787
    INTERLINC MORTGAGE SERVICES, LLC 81 3.07% $5,442
    NAVY FEDERAL CREDIT UNION 72 2.52% $4,273
    NEW DAY FINANCIAL, LLC 69 2.79% $5,247
    LAKEVIEW LOAN SERVICING, LLC 65 2.45% $2,313
    CALIBER HOME LOANS, INC. 57 2.61% $4,805
    VILLAGE CAPITAL & INVESTMENT LLC 47 2.39% $3,032
    GMFS LLC 44 2.72% $4,349
    Wells Fargo Bank 41 2.51% $4,673
    LOANDEPOT.COM, LLC 37 2.62% $4,970
    BAY EQUITY LLC 33 2.88% $6,204
    Renasant Bank 31 2.73% $5,869
    CMG MORTGAGE, INC. 29 3.04% $8,933
    CLEARPATH LENDING 26 2.38% $3,100
    HOME POINT FINANCIAL CORPORATION 22 2.37% $3,500
    CERTAINTY HOME LOANS, LLC 20 2.66% $7,287
    Mr. Cooper ( Nationstar Mortgage ) 20 2.83% $2,835
    Carrington Mortgage Services, LLC 19 3.20% $3,554
    Barrington Bank & Trust Company, N.A. 17 2.66% $3,492
    Regions Bank 16 2.79% $5,130
    PENTAGON FEDERAL CREDIT UNION 15 2.38% $1,431
    MAX Credit Union 15 2.66% $4,108
    NEWREZ LLC 14 2.72% $5,378
    PLANET HOME LENDING, LLC 14 2.47% $1,744
    First Guaranty Mortgage Corporation 13 2.67% $3,398
    ACCELERATE MORTGAGE, LLC 12 2.44% $6,707
    SouthPoint Bank 10 2.83% $5,918
    NP, Inc. 8 2.28% $4,586
    Low VA Rates, LLC 8 2.56% $3,351
    NBKC BANK 8 2.50% $3,988
    AMERICAN FINANCIAL NETWORK, INC. 7 2.27% $5,982
    DHI MORTGAGE COMPANY, LTD. 7 2.68% $7,228
    The Federal Savings Bank 7 2.45% $4,482
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 7 2.77% $8,046
    BNC National Bank 7 2.38% $4,847
    Mid-Continent Funding, Inc. 7 2.80% $6,057
    AMERISAVE MORTGAGE CORPORATION 7 2.66% $6,604
    FIRST COMMUNITY MORTGAGE, INC. 6 2.56% $7,900
    MUTUAL OF OMAHA MORTGAGE, INC. 6 2.90% $3,896
    MID AMERICA MORTGAGE, INC. 6 2.42% $1,487
    KS StateBank 5 2.28% $7,866
    Hamilton Mortgage Corporation 5 2.60% $4,176
    GUARANTEED RATE, INC. 4 2.88% $7,215
    UNION HOME MORTGAGE CORP. 4 2.53% $2,991
    BROKER SOLUTIONS, INC. 4 2.34% $3,993
    Magnolia Bank 4 2.56% $5,005
    North American Savings Bank, F.S.B. 4 2.47% $2,406
    Hometown Lenders, Inc. 4 3.28% $8,630
    MICHIGAN MUTUAL, INC. 4 3.13% $816
    SOVEREIGN LENDING GROUP INCORPORATED 4 2.81% $3,184
    First Federal Bank 4 4.03% $7,133
    Cadence Bank, N.A. 4 2.84% $5,410
    SUN WEST MORTGAGE COMPANY, INC. 3 2.17% $5,537
    TJC Mortgage, Inc. 3 2.58% $6,320
    Wyndham Capital Mortgage, Inc. 3 2.71% $3,919
    VANDERBILT MORTGAGE AND FINANCE, INC. 3 2.63% $4,684
    MOVEMENT MORTGAGE, LLC 3 3.13% $1,309
    Hancock Whitney Bank 3 2.63% $3,229
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.50% $2,654
    Manufacturers and Traders Trust Company 3 2.88% $1,774
    AMERICAN FINANCING CORPORATION 3 2.83% $11,035
    A Mortgage Boutique, LLC 3 2.54% $7,370
    LEADERONE FINANCIAL CORPORATION 2 3.50% $10,542
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.69% $2,751
    Consumer First Mortgage, Inc. 2 2.63% $2,444
    CONTOUR MORTGAGE CORPORATION 2 2.56% $4,245
    First Home Bank 2 2.44% $6,260
    GUARANTEED RATE AFFINITY, LLC 2 2.44% $1,314
    HOMESIDE FINANCIAL, LLC 2 2.56% $3,686
    HOMESTAR FINANCIAL CORPORATION 2 3.63% $2,249
    InterContinental Capital Group, Inc 2 2.25% $3,556
    Meridian Bank Corporation 2 2.31% $3,778
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 3.56% $6,253
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 2.94% $2,794
    Prosperity Home Mortgage, LLC 2 2.69% $2,279
    RELIANCE FIRST CAPITAL, LLC 2 2.81% $10,233
    SOUTHWEST FUNDING, LP 2 3.19% $11,938
    Truist Bank 2 2.75% $3,418
    Valley National Bank 2 2.75% $5,046
    Grand Bank for Savings, FSB 1 2.38% $1,339
    NETWORK CAPITAL FUNDING CORPORATION 1 2.75% $1,735
    Gateway First Bank 1 2.88% $8,394
    F&M Bank 1 2.50% $8,841
    Flagstar Bank, FSB 1 2.75% $32,536
    Northpointe Bank 1 3.13% $11,839
    First Midwest Bank 1 2.38% $7,604
    PANORAMA MORTGAGE GROUP, LLC 1 2.88% $7,869
    Paramount Bank 1 2.38% $1,526
    First Federal Bank of Kansas City 1 2.25% $1,149
    FirstBank 1 2.75% $3,566
    PHH Mortgage Corporation 1 3.00% $1,620
    FIDELITY BANK 1 3.25% $5,615
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.13% $1,497
    ALLIED MORTGAGE GROUP, INC. 1 2.75% $8,457
    Armed Forces Bank 1 2.25% $2,219
    Equity Prime Mortgage LLC 1 3.75% $8,426
    EMBRACE HOME LOANS, INC. 1 2.25% $2,322
    VAN DYK MORTGAGE CORPORATION 1 3.25% $525
    DRAPER AND KRAMER MORTGAGE CORP. 1 2.25% $7,254
    ROYAL UNITED MORTGAGE LLC 1 2.75% $1,730
    Service Federal Credit Union 1 2.88% $5,179
    ServisFirst Bank 1 3.25% $3,540
    COUNTRYPLACE MORTGAGE, LTD. 1 3.25% $12,073
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 2.63% $3,402
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 3.13% $14,711
    Sunflower Bank 1 2.49% $3,072
    Citizens Bank 1 2.25% $2,128
    Synovus Bank 1 2.75% $17,203
    The Camden National Bank 1 2.99% $4,484
    CHURCHILL MORTGAGE CORPORATION 1 2.38% $4,439
    CELEBRITY HOME LOANS, LLC 1 2.75% $1,557
    Triumph Bank 1 2.25% $8,790
    AMERICAN MORTGAGE SERVICE COMPANY 1 2.75% $0
    CB&S Bank, Inc. 1 2.88% $4,577
    Capital City Home Loans, LLC 1 2.75% $4,278
    UNITED SECURITY FINANCIAL CORP 1 2.25% $1,294
    BBVA USA 1 3.63% $2,366
    UNIVERSITY LENDING GROUP, LLC 1 2.38% $7,928
    MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 4.13% $3,540
    Assurance Financial Group, L.L.C. 1 2.50% $3,201
    MIDLAND MORTGAGE CORPORATION 1 3.25% $3,828
    MCLEAN MORTGAGE CORPORATION 1 2.38% $10,293
    LOANFLIGHT LENDING, LLC 1 2.37% $2,000
    NATIONWIDE MORTGAGE BANKERS, INC. 1 3.00% $4,409
    INTERCAP LENDING INC. 1 2.88% $144

    The top Montgomery VA lender as defined by loan originations is Mortgage Research Center, LLC, with 224 VA loans originated. Their average total fees are $4,458, which is $1,045 lower than the next largest lender, Trustmark National Bank.

    The lowest fee Montgomery VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION ($1,431), PLANET HOME LENDING, LLC ($1,744), FREEDOM MORTGAGE CORPORATION ($2,237), LAKEVIEW LOAN SERVICING, LLC ($2,313) and Mr. Cooper ( Nationstar Mortgage ) ($2,835).

    The lowest rate Montgomery VA lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION (2.37%), PENTAGON FEDERAL CREDIT UNION (2.38%), CLEARPATH LENDING (2.38%), VILLAGE CAPITAL & INVESTMENT LLC (2.39%) and ACCELERATE MORTGAGE, LLC (2.44%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Montgomery (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 $169,000 (5.7%) $217,640 (0.0%) 0.62 1,896
    2018-02-01 $175,000 (8.0%) $224,928 (3.4%) 0.63 1,885
    2018-03-01 $177,900 (6.4%) $230,545 (2.9%) 0.62 1,954
    2018-04-01 $189,450 (12.1%) $238,035 (5.2%) 0.64 2,056
    2018-05-01 $192,325 (13.5%) $242,215 (5.9%) 0.64 2,069
    2018-06-01 $189,900 (12.1%) $242,965 (5.9%) 0.63 2,082
    2018-07-01 $194,900 (15.0%) $243,232 (6.7%) 0.65 2,065
    2018-08-01 $197,500 (16.9%) $246,427 (8.8%) 0.66 1,986
    2018-09-01 $199,900 (15.6%) $244,974 (7.1%) 0.67 1,948
    2018-10-01 $195,500 (15.1%) $241,262 (6.3%) 0.65 1,937
    2018-11-01 $194,700 (15.7%) $241,524 (9.4%) 0.65 1,852
    2018-12-01 $192,900 (13.8%) $239,626 (8.7%) 0.66 1,784
    2019-01-01 $192,950 (14.2%) $238,199 (9.5%) 0.67 1,694
    2019-02-01 $196,250 (12.1%) $242,792 (7.9%) 0.66 1,718
    2019-03-01 $206,564 (16.1%) $252,870 (9.7%) 0.67 1,709
    2019-04-01 $219,275 (15.7%) $265,866 (11.7%) 0.69 1,741
    2019-05-01 $222,450 (15.7%) $265,055 (9.4%) 0.69 1,670
    2019-06-01 $219,900 (15.8%) $261,117 (7.5%) 0.68 1,698
    2019-07-01 $221,355 (13.6%) $260,896 (7.3%) 0.69 1,690
    2019-08-01 $222,529 (12.7%) $258,539 (4.9%) 0.70 1,624
    2019-09-01 $219,900 (10.0%) $255,352 (4.2%) 0.70 1,578
    2019-10-01 $218,875 (12.0%) $252,209 (4.5%) 0.70 1,579
    2019-11-01 $215,000 (10.4%) $250,512 (3.7%) 0.69 1,558
    2019-12-01 $219,900 (14.0%) $252,172 (5.2%) 0.73 1,484
    2020-01-01 $223,950 (16.1%) $253,552 (6.5%) 0.75 1,410
    2020-02-01 $225,000 (14.7%) $257,734 (6.2%) 0.73 1,386
    2020-03-01 $238,300 (15.4%) $267,182 (5.7%) 0.74 1,374
    2020-04-01 $241,450 (10.1%) $270,480 (1.7%) 0.75 1,367
    2020-05-01 $243,000 (9.2%) $269,523 (1.7%) 0.74 1,277
    2020-06-01 $244,625 (11.2%) $271,290 (3.9%) 0.71 1,171
    2020-07-01 $243,200 (9.9%) $270,231 (3.6%) 0.70 1,103
    2020-08-01 $239,000 (7.4%) $270,828 (4.8%) 0.68 1,105
    2020-09-01 $239,000 (8.7%) $272,521 (6.7%) 0.68 1,001
    2020-10-01 $237,000 (8.3%) $273,337 (8.4%) 0.68 935
    2020-11-01 $214,450 (-0.3%) $262,091 (4.6%) 0.61 922
    2020-12-01 $209,900 (-4.6%) $260,798 (3.4%) 0.62 831
    2021-01-01 $209,900 (-6.3%) $260,143 (2.6%) 0.62 741
    2021-02-01 $224,900 (0.0%) $279,778 (8.6%) 0.65 582
    2021-03-01 $233,500 (-2.0%) $287,406 (7.6%) 0.65 547
    2021-04-01 $261,400 (8.3%) $298,554 (10.4%) 0.70 561
    2021-05-01 $257,900 (6.1%) $295,447 (9.6%) 0.68 577
    2021-06-01 $237,000 (-3.1%) $285,084 (5.1%) 0.62 579
    2021-07-01 $234,950 (-3.4%) $287,818 (6.5%) 0.61 607
    2021-08-01 $239,450 (0.2%) $292,168 (7.9%) 0.63 640
    2021-09-01 $238,700 (-0.1%) $299,361 (9.9%) 0.63 596
    2021-10-01 $234,900 (-0.9%) $284,744 (4.2%) 0.62 552
    2021-11-01 $219,450 (2.3%) $275,436 (5.1%) 0.58 518
    2021-12-01 $215,450 (2.6%) $266,247 (2.1%) 0.57 508
    2022-01-01 $204,900 (-2.4%) $270,714 (4.1%) 0.55 437
    2022-02-01 $199,400 (-11.3%) $287,650 (2.8%) 0.51 376
    2022-03-01 $222,450 (-4.7%) $291,714 (1.5%) 0.55 429
    2022-04-01 $249,000 (-4.7%) $300,737 (0.7%) 0.59 447
    Montgomery's median listing price for 2022-04-01 was $249,000, a difference of $-12,400 (-4.7%) versus the prior year and $26,550 versus the prior month.

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

    Montgomery's average listing price for 2022-04-01 was $300,737, a difference of $2,183 (0.7%) versus the prior year and $9,023 versus the prior month.

    For the 2022-04-01 period, Montgomery had 447 MLS listings, a difference of 18 listings (4%) versus the prior month and -114 listings (-20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Montgomery (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 111 days 1,951 sqft
    2018-02-01 112 days 1,983 sqft
    2018-03-01 91 days 1,988 sqft
    2018-04-01 77 days 2,052 sqft
    2018-05-01 75 days 2,068 sqft
    2018-06-01 83 days 2,068 sqft
    2018-07-01 85 days 2,078 sqft
    2018-08-01 86 days 2,099 sqft
    2018-09-01 88 days 2,104 sqft
    2018-10-01 91 days 2,077 sqft
    2018-11-01 95 days 2,072 sqft
    2018-12-01 102 days 2,043 sqft
    2019-01-01 112 days 2,038 sqft
    2019-02-01 104 days 2,094 sqft
    2019-03-01 85 days 2,141 sqft
    2019-04-01 75 days 2,177 sqft
    2019-05-01 67 days 2,194 sqft
    2019-06-01 70 days 2,171 sqft
    2019-07-01 75 days 2,156 sqft
    2019-08-01 78 days 2,146 sqft
    2019-09-01 86 days 2,134 sqft
    2019-10-01 87 days 2,102 sqft
    2019-11-01 92 days 2,100 sqft
    2019-12-01 95 days 2,119 sqft
    2020-01-01 99 days 2,132 sqft
    2020-02-01 97 days 2,144 sqft
    2020-03-01 79 days 2,188 sqft
    2020-04-01 71 days 2,196 sqft
    2020-05-01 77 days 2,218 sqft
    2020-06-01 83 days 2,235 sqft
    2020-07-01 74 days 2,245 sqft
    2020-08-01 60 days 2,241 sqft
    2020-09-01 64 days 2,244 sqft
    2020-10-01 70 days 2,221 sqft
    2020-11-01 66 days 2,134 sqft
    2020-12-01 71 days 2,093 sqft
    2021-01-01 76 days 2,104 sqft
    2021-02-01 71 days 2,217 sqft
    2021-03-01 51 days 2,243 sqft
    2021-04-01 37 days 2,229 sqft
    2021-05-01 35 days 2,200 sqft
    2021-06-01 39 days 2,076 sqft
    2021-07-01 38 days 1,978 sqft
    2021-08-01 38 days 2,073 sqft
    2021-09-01 49 days 2,084 sqft
    2021-10-01 54 days 2,073 sqft
    2021-11-01 60 days 2,049 sqft
    2021-12-01 55 days 1,933 sqft
    2022-01-01 59 days 1,904 sqft
    2022-02-01 49 days 1,959 sqft
    2022-03-01 36 days 1,904 sqft
    2022-04-01 37 days 2,035 sqft
    Montgomery's median listing age (time on market) for 2022-04-01 was 37 days. This is 1% longer than the same period one year ago.

    Montgomery's median square footage for active listings during the 2022-04-01 period was 2,035 sqft. One year prior, the average listing was 2,229 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.