Montgomery VA Loan Rates, Closing Costs & Stats

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 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.

Montgomery's 113 lenders originated 1,463 VA loans during 2022. The total origination value was $408,395,000, with an average VA loan value of $279,149.

Montgomery VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Montgomery averaged 6.17% for the week of 2024-03-01, compared to the national average (all VA variants) of 6.517% for the same period.

Montgomery's average VA mortgage closing costs are $5,070.

The average rate for the prior week (2024-02-23) was 6.4% and one month ago for the week of 2024-01-26, the average rate was 6.33%.

The average rate one year ago was 6.17%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.64%.

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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Montgomery level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 184 5.18% $4,971
GUILD MORTGAGE COMPANY 116 4.99% $9,940
Trustmark National Bank 88 4.66% $8,361
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 82 4.84% $7,897
QUICKEN LOANS, LLC 75 4.30% $9,193
PENNYMAC LOAN SERVICES, LLC 60 3.56% $7,809
UNITED WHOLESALE MORTGAGE, LLC 60 4.81% $6,229
NAVY FEDERAL CREDIT UNION 59 4.11% $5,494
INTERLINC MORTGAGE SERVICES, LLC 54 4.33% $8,696
CROSSCOUNTRY MORTGAGE, LLC 53 4.82% $7,868
USAA Federal Savings Bank 49 4.50% $6,869
FREEDOM MORTGAGE CORPORATION 43 4.73% $10,208
NEW DAY FINANCIAL, LLC 39 4.70% $7,847
GMFS LLC 25 4.23% $6,951
Renasant Bank 24 4.94% $8,257
Flagstar Bank, FSB 23 5.04% $7,907
LOANDEPOT.COM, LLC 22 4.29% $8,064
BAY EQUITY LLC 21 4.72% $7,014
The Federal Savings Bank 13 4.70% $12,034
Mr. Cooper ( Nationstar Mortgage ) 13 4.90% $8,315
DHI MORTGAGE COMPANY, LTD. 12 4.34% $7,890
CALIBER HOME LOANS, INC. 12 4.76% $8,807
Wells Fargo Bank 12 4.86% $4,006
CMG MORTGAGE, INC. 12 5.75% $7,859
MORTGAGE SOLUTIONS OF COLORADO, LLC 12 5.90% $5,255
Regions Bank 9 4.82% $9,837
UNION HOME MORTGAGE CORP. 9 6.18% $7,750
PENTAGON FEDERAL CREDIT UNION 7 3.57% $7,198
LAKEVIEW LOAN SERVICING, LLC 7 3.37% $4,167
Barrington Bank & Trust Company, N.A. 6 4.75% $4,659
VILLAGE CAPITAL MORTGAGE 6 4.81% $9,327
NEWREZ LLC 5 2.87% $4,334
Carrington Mortgage Services, LLC 5 4.45% $11,403
First Federal Bank 5 5.40% $3,318
MAX Credit Union 5 4.98% $8,437
HOME POINT FINANCIAL CORPORATION 4 4.65% $8,220
MUTUAL OF OMAHA MORTGAGE, INC. 4 4.19% $11,071
FirstBank 4 5.81% $4,363
Synovus Bank 4 5.50% $5,802
The Central Trust Bank 3 3.58% $11,046
BROKER SOLUTIONS, INC. 3 5.58% $7,391
AMERISAVE MORTGAGE CORPORATION 3 3.58% $10,252
SouthPoint Bank 3 5.29% $7,744
AMERICAN PACIFIC MORTGAGE CORPORATION 3 5.29% $10,817
RELIANCE FIRST CAPITAL, LLC 3 5.13% $9,422
CARDINAL FINANCIAL 3 5.29% $7,802
PLANET HOME LENDING, LLC 3 4.54% $6,650
Hamilton Mortgage Corporation 3 4.88% $9,247
CERTAINTY HOME LOANS, LLC 3 4.46% $4,740
Ameris Bank 3 3.63% $6,425
Mid-Continent Funding, Inc. 3 3.50% $8,547
CONTOUR MORTGAGE CORPORATION 3 4.92% $9,181
NBKC BANK 3 3.96% $3,302
MOVEMENT MORTGAGE, LLC 3 5.83% $7,151
FIRST COMMUNITY MORTGAGE, INC. 3 4.58% $4,955
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 4.49% $11,801
Armed Forces Bank 2 4.50% $12,054
CORNERSTONE HOME LENDING, INC. 2 6.19% $4,163
SUN WEST MORTGAGE COMPANY, INC. 2 3.56% $2,009
Bank of England 2 5.19% $13,034
Magnolia Bank 2 3.94% $15,524
Prosperity Home Mortgage, LLC 2 5.56% $15,563
GUARANTEED RATE, INC. 2 3.25% $8,684
Truist 2 5.43% $2,126
Northpointe Bank 2 6.00% $5,774
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 5.31% $4,828
GUARANTEED RATE AFFINITY, LLC 2 5.34% $5,127
Hometown Lenders, Inc. 2 4.13% $7,340
PHH Mortgage Corporation 2 5.63% $5,347
JPMorgan Chase Bank 2 5.06% $3,275
Core Bank 2 3.62% $9,797
Texana Bank 1 4.88% $11,896
AMERICAN FINANCIAL RESOURCES, INC. 1 5.13% $3,406
AMERICAN FINANCING CORPORATION 1 5.13% $3,095
AMERIFIRST FINANCIAL CORPORATION 1 5.63% $8,113
ARC HOME LLC 1 6.63% $3,622
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.63% $14,204
Bank of America 1 4.38% $15,170
Bell Bank 1 5.63% $11,173
BNC National Bank 1 4.38% $12,002
CHURCHILL MORTGAGE CORPORATION 1 3.75% $5,882
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 4.75% $32,116
CLEARPATH LENDING 1 3.88% $13,516
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 2.88% $9,595
DAS Acquisition Company, LLC 1 5.00% $8,433
EMBRACE HOME LOANS, INC. 1 3.38% $12,547
Fifth Third Bank 1 3.00% $1,932
First Federal Bank, A FSB 1 2.88% $3,306
FirstTrust Home Loans, Inc. 1 4.25% $14,422
Gateway First Bank 1 5.25% $9,208
Goldwater Bank, N.A. 1 4.25% $11,696
KEESLER 1 4.13% $3,874
LEADERONE FINANCIAL CORPORATION 1 4.13% $7,287
LOANPAL, LLC 1 4.63% $16,934
Low VA Rates, LLC 1 4.75% $0
Midwest Mortgage Associates Corporation 1 4.50% $5,159
MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 5.75% $1,674
M&T Bank 1 7.50% $7,002
MYCUMORTGAGE, LLC 1 3.00% $0
Nations Lending Corporation 1 6.75% $11,731
Pinnacle Bank 1 4.75% $10,787
PNC Bank 1 5.13% $1,854
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.75% $1,292
RUOFF MORTGAGE COMPANY, INC. 1 6.50% $8,091
Strong Home Mortgage, LLC 1 2.50% $7,695
Sunflower Bank 1 5.13% $3,384
T2 FINANCIAL LLC 1 3.75% $7,387
AMCAP MORTGAGE, LTD. 1 4.25% $5,270
TOWNE MORTGAGE COMPANY 1 2.50% $21,132
Tyndall Federal Credit Union 1 5.13% $10,241
U.S. Bank 1 4.63% $10,590
Valley National Bank 1 3.00% $2,597
VANDERBILT MORTGAGE AND FINANCE, INC. 1 3.75% $1,085

The top Montgomery VA lender as defined by loan originations is Mortgage Research Center, LLC, with 184 VA loans originated. Their average total fees are $4,971, which is $4,969 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Montgomery VA lenders (with over 10 loans originated) are Wells Fargo Bank ($4,006), Mortgage Research Center, LLC ($4,971), MORTGAGE SOLUTIONS OF COLORADO, LLC ($5,255), NAVY FEDERAL CREDIT UNION ($5,494) and UNITED WHOLESALE MORTGAGE, LLC ($6,229).

The lowest rate Montgomery VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.56%), NAVY FEDERAL CREDIT UNION (4.11%), GMFS LLC (4.23%), LOANDEPOT.COM, LLC (4.29%) and QUICKEN LOANS, LLC (4.30%).


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 $170,950 (3.6%) $220,991 (-2.5%) 0.63 1,893
2018-02-01 $178,500 (5.9%) $232,723 (2.2%) 0.65 1,892
2018-03-01 $179,900 (5.9%) $240,141 (1.8%) 0.63 1,969
2018-04-01 $190,423 (12.0%) $250,631 (4.8%) 0.65 2,070
2018-05-01 $194,900 (14.3%) $254,105 (4.7%) 0.65 2,077
2018-06-01 $194,900 (13.7%) $254,760 (4.7%) 0.65 2,088
2018-07-01 $197,500 (15.5%) $255,202 (5.9%) 0.66 2,059
2018-08-01 $199,700 (17.5%) $260,118 (9.0%) 0.67 1,982
2018-09-01 $199,900 (11.7%) $259,236 (8.5%) 0.67 1,944
2018-10-01 $197,222 (12.8%) $254,361 (7.0%) 0.67 1,920
2018-11-01 $194,950 (14.7%) $251,814 (9.8%) 0.66 1,825
2018-12-01 $191,000 (11.1%) $245,494 (8.6%) 0.66 1,746
2019-01-01 $192,725 (12.7%) $246,305 (11.5%) 0.67 1,655
2019-02-01 $198,000 (10.9%) $251,364 (8.0%) 0.67 1,685
2019-03-01 $207,957 (15.6%) $261,604 (8.9%) 0.68 1,682
2019-04-01 $220,700 (15.9%) $277,077 (10.6%) 0.70 1,732
2019-05-01 $224,900 (15.4%) $275,829 (8.6%) 0.70 1,648
2019-06-01 $220,000 (12.9%) $271,721 (6.7%) 0.69 1,672
2019-07-01 $223,700 (13.3%) $271,656 (6.5%) 0.70 1,664
2019-08-01 $223,536 (11.9%) $267,873 (3.0%) 0.71 1,605
2019-09-01 $221,491 (10.8%) $263,807 (1.8%) 0.71 1,571
2019-10-01 $219,900 (11.5%) $260,544 (2.4%) 0.71 1,546
2019-11-01 $216,000 (10.8%) $253,416 (0.6%) 0.71 1,523
2019-12-01 $219,900 (15.1%) $254,096 (3.5%) 0.73 1,451
2020-01-01 $223,700 (16.1%) $255,402 (3.7%) 0.75 1,380
2020-02-01 $225,500 (13.9%) $264,362 (5.2%) 0.74 1,359
2020-03-01 $239,450 (15.1%) $274,927 (5.1%) 0.75 1,346
2020-04-01 $243,000 (10.1%) $277,224 (0.1%) 0.76 1,328
2020-05-01 $244,900 (8.9%) $276,293 (0.2%) 0.74 1,243
2020-06-01 $244,900 (11.3%) $276,288 (1.7%) 0.72 1,133
2020-07-01 $243,650 (8.9%) $273,981 (0.9%) 0.71 1,075
2020-08-01 $237,950 (6.5%) $278,935 (4.1%) 0.68 1,081
2020-09-01 $238,975 (7.9%) $281,214 (6.6%) 0.68 980
2020-10-01 $239,000 (8.7%) $284,416 (9.2%) 0.68 903
2020-11-01 $217,450 (0.7%) $273,234 (7.8%) 0.64 895
2020-12-01 $212,700 (-3.3%) $271,413 (6.8%) 0.63 816
2021-01-01 $209,000 (-6.6%) $269,779 (5.6%) 0.62 736
2021-02-01 $224,900 (-0.3%) $294,066 (11.2%) 0.65 580
2021-03-01 $234,975 (-1.9%) $299,358 (8.9%) 0.67 554
2021-04-01 $261,975 (7.8%) $322,527 (16.3%) 0.71 560
2021-05-01 $259,450 (5.9%) $320,022 (15.8%) 0.69 570
2021-06-01 $233,500 (-4.7%) $295,269 (6.9%) 0.61 571
2021-07-01 $229,900 (-5.6%) $296,109 (8.1%) 0.61 619
2021-08-01 $234,900 (-1.3%) $302,226 (8.4%) 0.63 637
2021-09-01 $235,000 (-1.7%) $303,238 (7.8%) 0.63 601
2021-10-01 $232,500 (-2.7%) $295,671 (4.0%) 0.62 549
2021-11-01 $233,225 (7.3%) $284,706 (4.2%) 0.62 513
2021-12-01 $211,150 (-0.7%) $271,292 (0.0%) 0.57 484
2022-01-01 $205,000 (-1.9%) $274,556 (1.8%) 0.55 436
2022-02-01 $201,650 (-10.3%) $297,262 (1.1%) 0.52 365
2022-03-01 $229,600 (-2.3%) $297,026 (-0.8%) 0.57 414
2022-04-01 $249,900 (-4.6%) $305,900 (-5.2%) 0.60 437
2022-05-01 $247,450 (-4.6%) $307,212 (-4.0%) 0.57 507
2022-06-01 $249,900 (7.0%) $303,377 (2.8%) 0.56 578
2022-07-01 $288,500 (25.5%) $323,968 (9.4%) 0.65 678
2022-08-01 $280,575 (19.4%) $334,367 (10.6%) 0.65 729
2022-09-01 $269,800 (14.8%) $348,648 (15.0%) 0.63 709
2022-10-01 $264,186 (13.6%) $344,656 (16.6%) 0.62 758
2022-11-01 $262,500 (12.6%) $332,419 (16.8%) 0.63 792
2022-12-01 $259,900 (23.1%) $326,581 (20.4%) 0.64 765
2023-01-01 $276,800 (35.0%) $327,803 (19.4%) 0.69 692
2023-02-01 $301,900 (49.7%) $342,583 (15.3%) 0.73 663
2023-03-01 $308,700 (34.5%) $358,378 (20.7%) 0.73 646
2023-04-01 $320,400 (28.2%) $382,842 (25.2%) 0.75 646
2023-05-01 $308,700 (24.8%) $388,347 (26.4%) 0.70 652
2023-06-01 $299,224 (19.7%) $372,440 (22.8%) 0.67 690
2023-07-01 $315,000 (9.2%) $370,584 (14.4%) 0.72 743
2023-08-01 $312,300 (11.3%) $361,803 (8.2%) 0.72 797
2023-09-01 $305,000 (13.1%) $355,753 (2.0%) 0.71 848
2023-10-01 $297,600 (12.7%) $338,096 (-1.9%) 0.70 926
2023-11-01 $296,100 (12.8%) $338,919 (2.0%) 0.71 918
2023-12-01 $299,000 (15.0%) $331,287 (1.4%) 0.73 903
2024-01-01 $289,675 (4.7%) $325,032 (-0.9%) 0.71 836
Montgomery's median listing price for 2024-01-01 was $289,675, a difference of $12,875 (4.7%) versus the prior year and $-9,325 versus the prior month.

Montgomery's median listing price comes in at 71% of the national average.

Montgomery's average listing price for 2024-01-01 was $325,032, a difference of $-2,771 (-0.9%) versus the prior year and $-6,255 versus the prior month.

For the 2024-01-01 period, Montgomery had 836 MLS listings, a difference of -67 listings (-7%) versus the prior month and 144 listings (21%) 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 99 days 1,962 sqft
2018-02-01 96 days 1,994 sqft
2018-03-01 71 days 2,004 sqft
2018-04-01 66 days 2,070 sqft
2018-05-01 66 days 2,083 sqft
2018-06-01 74 days 2,080 sqft
2018-07-01 75 days 2,099 sqft
2018-08-01 78 days 2,123 sqft
2018-09-01 79 days 2,135 sqft
2018-10-01 80 days 2,090 sqft
2018-11-01 85 days 2,087 sqft
2018-12-01 92 days 2,052 sqft
2019-01-01 100 days 2,050 sqft
2019-02-01 84 days 2,100 sqft
2019-03-01 73 days 2,146 sqft
2019-04-01 65 days 2,192 sqft
2019-05-01 61 days 2,205 sqft
2019-06-01 65 days 2,188 sqft
2019-07-01 71 days 2,172 sqft
2019-08-01 74 days 2,161 sqft
2019-09-01 77 days 2,138 sqft
2019-10-01 80 days 2,117 sqft
2019-11-01 85 days 2,112 sqft
2019-12-01 87 days 2,125 sqft
2020-01-01 92 days 2,140 sqft
2020-02-01 87 days 2,154 sqft
2020-03-01 64 days 2,200 sqft
2020-04-01 63 days 2,213 sqft
2020-05-01 71 days 2,240 sqft
2020-06-01 73 days 2,246 sqft
2020-07-01 61 days 2,245 sqft
2020-08-01 51 days 2,241 sqft
2020-09-01 55 days 2,245 sqft
2020-10-01 62 days 2,238 sqft
2020-11-01 59 days 2,141 sqft
2020-12-01 65 days 2,089 sqft
2021-01-01 67 days 2,080 sqft
2021-02-01 60 days 2,204 sqft
2021-03-01 43 days 2,218 sqft
2021-04-01 30 days 2,220 sqft
2021-05-01 30 days 2,183 sqft
2021-06-01 35 days 2,066 sqft
2021-07-01 35 days 1,992 sqft
2021-08-01 35 days 2,066 sqft
2021-09-01 45 days 2,078 sqft
2021-10-01 49 days 2,080 sqft
2021-11-01 53 days 2,093 sqft
2021-12-01 48 days 1,934 sqft
2022-01-01 51 days 1,883 sqft
2022-02-01 41 days 1,957 sqft
2022-03-01 29 days 1,916 sqft
2022-04-01 29 days 2,074 sqft
2022-05-01 25 days 2,076 sqft
2022-06-01 30 days 2,016 sqft
2022-07-01 31 days 2,105 sqft
2022-08-01 40 days 2,091 sqft
2022-09-01 46 days 2,092 sqft
2022-10-01 45 days 2,075 sqft
2022-11-01 50 days 2,079 sqft
2022-12-01 61 days 2,089 sqft
2023-01-01 74 days 2,109 sqft
2023-02-01 58 days 2,164 sqft
2023-03-01 52 days 2,165 sqft
2023-04-01 50 days 2,181 sqft
2023-05-01 46 days 2,152 sqft
2023-06-01 48 days 2,090 sqft
2023-07-01 46 days 2,138 sqft
2023-08-01 45 days 2,141 sqft
2023-09-01 51 days 2,131 sqft
2023-10-01 53 days 2,051 sqft
2023-11-01 59 days 2,023 sqft
2023-12-01 68 days 2,045 sqft
2024-01-01 78 days 2,019 sqft
Montgomery's median listing age (time on market) for 2024-01-01 was 78 days. This is 6% longer than the same period one year ago.

Montgomery's median square footage for active listings during the 2024-01-01 period was 2,019 sqft. One year prior, the average listing was 2,109 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.