Montgomery VA Loan Rates, Closing Costs & Stats

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 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 94 lenders originated 1,124 VA loans during 2023. The total origination value was $328,120,000, with an average VA loan value of $291,922.

    Montgomery VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Montgomery averaged 0.02% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Montgomery's average VA mortgage closing costs are $5,362.

    The average rate for the prior week (2024-11-08) was 6.33% and one month ago for the week of 2024-10-11, the average rate was 5.9%.

    The average rate one year ago was 7.19%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.72%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 152 6.81% $4,952
    GUILD MORTGAGE COMPANY 106 6.29% $10,692
    Trustmark National Bank 75 6.21% $6,368
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 66 6.64% $5,991
    CROSSCOUNTRY MORTGAGE, LLC 65 6.41% $7,366
    QUICKEN LOANS, LLC 46 6.24% $9,019
    UNITED WHOLESALE MORTGAGE, LLC 46 6.44% $7,413
    Renasant Bank 40 6.23% $9,551
    NAVY FEDERAL CREDIT UNION 40 5.77% $4,657
    MOVEMENT MORTGAGE, LLC 34 6.69% $8,314
    PENNYMAC LOAN SERVICES, LLC 33 5.67% $7,821
    USAA Federal Savings Bank 28 6.29% $10,701
    FREEDOM MORTGAGE CORPORATION 27 6.59% $12,434
    NEW DAY FINANCIAL, LLC 22 7.44% $9,760
    DHI MORTGAGE COMPANY, LTD. 19 5.36% $7,226
    GMFS LLC 18 6.44% $5,526
    CMG MORTGAGE, INC. 15 6.67% $9,339
    The Federal Savings Bank 14 6.86% $18,344
    Flagstar Bank, FSB 13 6.60% $6,445
    LOANDEPOT.COM, LLC 12 6.16% $11,381
    NEWREZ LLC 12 6.26% $10,734
    VILLAGE CAPITAL MORTGAGE 11 6.08% $10,438
    GUARANTEED RATE, INC. 10 5.92% $3,912
    MORTGAGE SOLUTIONS OF COLORADO, LLC 10 7.80% $3,101
    Mr. Cooper ( Nationstar Mortgage ) 10 5.74% $9,060
    Regions Bank 9 6.22% $9,465
    UNION HOME MORTGAGE CORP. 9 6.53% $9,890
    BROKER SOLUTIONS, INC. 6 6.45% $7,439
    FIRST COMMUNITY MORTGAGE, INC. 6 6.23% $11,285
    SouthPoint Bank 5 6.73% $4,441
    AMERISAVE MORTGAGE CORPORATION 5 6.23% $10,476
    Wells Fargo Bank 5 6.00% $12,638
    PENTAGON FEDERAL CREDIT UNION 5 5.23% $6,151
    Plains Commerce Bank 4 6.06% $9,071
    NBKC BANK 4 5.28% $7,614
    Prosperity Home Mortgage, LLC 3 6.62% $7,464
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.92% $6,627
    First Federal Bank 3 6.38% $1,778
    Magnolia Bank 3 6.75% $16,918
    Synovus Bank 3 6.17% $6,619
    HOMESTAR FINANCIAL CORPORATION 2 6.75% $4,588
    Nations Lending Corporation 2 6.75% $10,075
    BancorpSouth 2 5.94% $6,738
    MILEND, INC. 2 6.69% $9,707
    Mid-Continent Funding, Inc. 2 5.69% $6,431
    AMERICAN FINANCIAL NETWORK, INC. 2 6.69% $438
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.94% $3,614
    CARDINAL FINANCIAL 2 7.00% $11,144
    BAY EQUITY LLC 2 6.69% $3,941
    Consumer First Mortgage, Inc. 2 7.37% $5,969
    Wolfe Financial, Inc 1 6.50% $3,897
    AMERICAN FINANCING CORPORATION 1 6.25% $7,140
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $14,210
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.25% $18,183
    Armed Forces Bank 1 6.25% $5,941
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.75% $3,263
    Bank of England 1 6.75% $44,447
    BANKSOUTH MORTGAGE COMPANY, LLC 1 5.75% $9,082
    Barrington Bank & Trust Company, N.A. 1 6.75% $2,947
    BNC National Bank 1 5.63% $12,205
    CANOPY MORTGAGE, LLC 1 6.75% $11,714
    CONTOUR MORTGAGE CORPORATION 1 5.88% $3,522
    CORNERSTONE HOME LENDING, INC. 1 7.25% $6,159
    DAS Acquisition Company, LLC 1 6.25% $9,760
    EMBRACE HOME LOANS, INC. 1 6.99% $9,016
    EMM LOANS LLC 1 5.88% $0
    ENVOY MORTGAGE, LTD 1 7.13% $3,880
    Equity Prime Mortgage LLC 1 6.75% $851
    FBC MORTGAGE, LLC 1 5.75% $6,067
    FirstBank 1 6.75% $7,532
    GENEVA FINANCIAL, LLC 1 6.63% $6,955
    Hamilton Mortgage Corporation 1 6.75% $15,526
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.50% $6,051
    HomePromise Corporation 1 7.25% $5,553
    Ixonia Bank 1 7.88% $10,359
    JPMorgan Chase Bank 1 5.38% $2,006
    LEADERONE FINANCIAL CORPORATION 1 6.25% $4,958
    MICHIGAN MUTUAL, INC. 1 6.50% $2,097
    MID AMERICA MORTGAGE, INC. 1 6.75% $2,451
    MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 6.88% $6,365
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.63% $13,052
    NFM, INC. 1 5.88% $8,609
    Northpointe Bank 1 5.75% $21,931
    NORWICH COMMERCIAL GROUP, INC. 1 7.25% $4,134
    PLANET HOME LENDING, LLC 1 5.88% $5,745
    PREMIA MORTGAGE, LLC 1 5.75% $8,771
    ServisFirst Bank 1 5.75% $14,437
    SUN WEST MORTGAGE COMPANY, INC. 1 2.75% $3,033
    SWBC MORTGAGE CORPORATION 1 6.50% $7,940
    TOWN AND COUNTRY Credit Union 1 6.25% $8,184
    United Community Bank 1 5.25% $7,815
    U.S. Bank 1 6.13% $9,122
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.50% $5,507
    ACADEMY MORTGAGE CORPORATION 1 7.25% $4,420

    The top Montgomery VA lender as defined by loan originations is Mortgage Research Center, LLC, with 152 VA loans originated. Their average total fees are $4,952, which is $5,740 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Montgomery VA lenders (with over 10 loans originated) are MORTGAGE SOLUTIONS OF COLORADO, LLC ($3,101), GUARANTEED RATE, INC. ($3,912), NAVY FEDERAL CREDIT UNION ($4,657), Mortgage Research Center, LLC ($4,952) and GMFS LLC ($5,526).

    The lowest rate Montgomery VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.36%), PENNYMAC LOAN SERVICES, LLC (5.67%), Mr. Cooper ( Nationstar Mortgage ) (5.74%), NAVY FEDERAL CREDIT UNION (5.77%) and GUARANTEED RATE, INC. (5.92%).

    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
    2024-02-01 $294,450 (-2.5%) $336,035 (-1.9%) 0.71 807
    2024-03-01 $309,900 (0.4%) $354,598 (-1.1%) 0.73 853
    2024-04-01 $317,500 (-0.9%) $377,483 (-1.4%) 0.74 865
    2024-05-01 $324,950 (5.3%) $381,667 (-1.7%) 0.73 887
    2024-06-01 $328,750 (9.9%) $384,028 (3.1%) 0.74 929
    2024-07-01 $317,000 (0.6%) $372,266 (0.5%) 0.72 1,007
    2024-08-01 $299,900 (-4.0%) $368,975 (2.0%) 0.70 1,067
    2024-09-01 $296,700 (-2.7%) $372,886 (4.8%) 0.70 1,148
    2024-10-01 $297,000 (-0.2%) $365,668 (8.2%) 0.70 1,165
    Montgomery's median listing price for 2024-10-01 was $297,000, a difference of $-600 (-0.2%) versus the prior year and $300 versus the prior month.

    Montgomery's median listing price comes in at 70% of the national average.

    Montgomery's average listing price for 2024-10-01 was $365,668, a difference of $27,572 (8.2%) versus the prior year and $-7,218 versus the prior month.

    For the 2024-10-01 period, Montgomery had 1,165 MLS listings, a difference of 17 listings (1%) versus the prior month and 239 listings (26%) 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 2,140 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
    2024-02-01 65 days 2,020 sqft
    2024-03-01 53 days 2,097 sqft
    2024-04-01 50 days 2,122 sqft
    2024-05-01 49 days 2,138 sqft
    2024-06-01 52 days 2,153 sqft
    2024-07-01 51 days 2,114 sqft
    2024-08-01 50 days 2,040 sqft
    2024-09-01 55 days 2,031 sqft
    2024-10-01 60 days 2,061 sqft
    Montgomery's median listing age (time on market) for 2024-10-01 was 60 days. This is 12% longer than the same period one year ago.

    Montgomery's median square footage for active listings during the 2024-10-01 period was 2,061 sqft. One year prior, the average listing was 2,051 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.