Montgomery VA Loans

MONTGOMERY, AL

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.