Morgan City VA Loan Rates, Closing Costs & Stats

Morgan City, LA

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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.

    Morgan City's 14 lenders originated 24 VA loans during 2023. The total origination value was $4,650,000, with an average VA loan value of $193,750.

    Morgan City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Morgan City averaged -0.03% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Morgan City's average VA mortgage closing costs are $4,283.

    The average rate for the prior week (2024-11-08) was 6.37% and one month ago for the week of 2024-10-11, the average rate was 6.24%.

    The average rate one year ago was 7.23%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0%.

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

    Morgan City 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 Morgan City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 8 6.39% $6,713
    UNITED WHOLESALE MORTGAGE, LLC 3 6.66% $4,489
    NAVY FEDERAL CREDIT UNION 2 6.31% $6,422
    Hometown Equity Mortgage, LLC 1 7.63% $9,518
    JPMorgan Chase Bank 1 7.75% $1,070
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $3,429
    Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $8,958
    NEWREZ LLC 1 7.25% $3,440
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $586
    Regions Bank 1 6.63% $4,405
    Assurance Financial Group, L.L.C. 1 6.25% $4,259
    USAA Federal Savings Bank 1 5.75% $3,970
    Flagstar Bank, FSB 1 6.25% $2,132
    GMFS LLC 1 6.13% $2,870

    The top Morgan City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 8 VA loans originated. Their average total fees are $6,713, which is $2,225 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Morgan City VA lenders (with over 10 loans originated) are .

    The lowest rate Morgan City VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Morgan City (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 $135,850 (5.5%) $209,469 (1.1%) 0.00 152
    2018-02-01 $135,725 (4.7%) $210,850 (-0.7%) 0.00 148
    2018-03-01 $142,000 (-0.3%) $210,979 (-4.5%) 0.00 150
    2018-04-01 $143,000 (-4.4%) $210,249 (-6.7%) 0.00 164
    2018-05-01 $140,450 (-7.6%) $210,658 (-10.9%) 0.00 159
    2018-06-01 $139,700 (-6.9%) $203,397 (-7.6%) 0.00 169
    2018-07-01 $148,225 (-0.1%) $206,270 (2.3%) 0.00 164
    2018-08-01 $149,450 (5.5%) $205,367 (4.4%) 0.00 171
    2018-09-01 $150,000 (1.7%) $204,549 (4.9%) 0.00 164
    2018-10-01 $153,750 (12.6%) $209,148 (7.0%) 0.00 159
    2018-11-01 $151,250 (7.3%) $204,377 (3.0%) 0.00 158
    2018-12-01 $150,000 (11.1%) $203,537 (3.4%) 0.00 150
    2019-01-01 $150,000 (10.4%) $199,035 (-5.0%) 0.00 152
    2019-02-01 $157,175 (15.8%) $198,487 (-5.9%) 0.00 165
    2019-03-01 $154,550 (8.8%) $199,692 (-5.4%) 0.00 165
    2019-04-01 $150,000 (4.9%) $207,994 (-1.1%) 0.00 163
    2019-05-01 $149,900 (6.7%) $207,946 (-1.3%) 0.00 160
    2019-06-01 $142,450 (2.0%) $207,804 (2.2%) 0.00 165
    2019-07-01 $145,250 (-2.0%) $211,326 (2.5%) 0.00 171
    2019-08-01 $144,455 (-3.3%) $209,940 (2.2%) 0.00 165
    2019-09-01 $143,636 (-4.2%) $206,222 (0.8%) 0.00 162
    2019-10-01 $143,000 (-7.0%) $204,458 (-2.2%) 0.00 158
    2019-11-01 $143,000 (-5.5%) $207,874 (1.7%) 0.00 152
    2019-12-01 $140,650 (-6.2%) $208,555 (2.5%) 0.00 144
    2020-01-01 $135,000 (-10.0%) $200,401 (0.7%) 0.00 150
    2020-02-01 $135,000 (-14.1%) $199,553 (0.5%) 0.00 162
    2020-03-01 $134,675 (-12.9%) $205,653 (3.0%) 0.00 166
    2020-04-01 $135,000 (-10.0%) $209,598 (0.8%) 0.00 160
    2020-05-01 $139,250 (-7.1%) $213,700 (2.8%) 0.00 154
    2020-06-01 $139,950 (-1.8%) $212,049 (2.0%) 0.00 156
    2020-07-01 $144,750 (-0.3%) $210,898 (-0.2%) 0.00 152
    2020-08-01 $155,000 (7.3%) $221,035 (5.3%) 0.00 146
    2020-09-01 $163,525 (13.9%) $223,655 (8.5%) 0.00 138
    2020-10-01 $155,000 (8.4%) $204,172 (-0.1%) 0.00 134
    2020-11-01 $149,675 (4.7%) $203,723 (-2.0%) 0.00 136
    2020-12-01 $146,975 (4.5%) $227,215 (9.0%) 0.00 129
    2021-01-01 $145,000 (7.4%) $229,119 (14.3%) 0.00 115
    2021-02-01 $154,925 (14.8%) $236,588 (18.6%) 0.00 120
    2021-03-01 $153,725 (14.2%) $253,189 (23.1%) 0.00 115
    2021-04-01 $155,000 (14.8%) $262,181 (25.1%) 0.00 104
    2021-05-01 $149,900 (7.7%) $249,687 (16.8%) 0.00 97
    2021-06-01 $157,475 (12.5%) $256,272 (20.9%) 0.00 100
    2021-07-01 $169,450 (17.1%) $250,940 (19.0%) 0.00 103
    2021-08-01 $176,500 (13.9%) $274,215 (24.1%) 0.00 98
    2021-09-01 $176,000 (7.6%) $257,351 (15.1%) 0.00 105
    2021-10-01 $195,000 (25.8%) $287,635 (40.9%) 0.00 92
    2021-11-01 $199,200 (33.1%) $288,551 (41.6%) 0.00 87
    2021-12-01 $199,950 (36.0%) $268,456 (18.2%) 0.00 86
    2022-01-01 $195,000 (34.5%) $263,790 (15.1%) 0.00 88
    2022-02-01 $194,875 (25.8%) $284,063 (20.1%) 0.00 88
    2022-03-01 $188,500 (22.6%) $278,695 (10.1%) 0.00 83
    2022-04-01 $189,000 (21.9%) $266,312 (1.6%) 0.00 92
    2022-05-01 $188,750 (25.9%) $272,309 (9.1%) 0.00 100
    2022-06-01 $182,500 (15.9%) $284,020 (10.8%) 0.00 89
    2022-07-01 $169,900 (0.3%) $280,883 (11.9%) 0.00 87
    2022-08-01 $166,500 (-5.7%) $271,619 (-1.0%) 0.00 93
    2022-09-01 $159,625 (-9.3%) $265,319 (3.1%) 0.00 101
    2022-10-01 $163,500 (-16.2%) $249,548 (-13.2%) 0.00 103
    2022-11-01 $160,000 (-19.7%) $244,611 (-15.2%) 0.00 102
    2022-12-01 $160,000 (-20.0%) $241,658 (-10.0%) 0.00 99
    2023-01-01 $160,000 (-18.0%) $244,219 (-7.4%) 0.00 90
    2023-02-01 $170,000 (-12.8%) $257,398 (-9.4%) 0.00 91
    2023-03-01 $168,500 (-10.6%) $248,246 (-10.9%) 0.00 93
    2023-04-01 $172,000 (-9.0%) $250,269 (-6.0%) 0.00 93
    2023-05-01 $169,974 (-10.0%) $250,655 (-8.0%) 0.00 101
    2023-06-01 $172,125 (-5.7%) $250,056 (-12.0%) 0.00 100
    2023-07-01 $185,000 (8.9%) $266,892 (-5.0%) 0.00 99
    2023-08-01 $188,000 (12.9%) $262,823 (-3.2%) 0.00 103
    2023-09-01 $206,500 (29.4%) $274,283 (3.4%) 0.00 100
    2023-10-01 $206,250 (26.2%) $271,694 (8.9%) 0.00 95
    2023-11-01 $187,750 (17.3%) $254,576 (4.1%) 0.00 103
    2023-12-01 $187,500 (17.2%) $246,748 (2.1%) 0.00 98
    2024-01-01 $186,000 (16.3%) $259,983 (6.5%) 0.00 90
    2024-02-01 $191,725 (12.8%) $270,526 (5.1%) 0.00 87
    2024-03-01 $194,000 (15.1%) $271,204 (9.3%) 0.00 90
    2024-04-01 $187,225 (8.9%) $255,790 (2.2%) 0.00 92
    2024-05-01 $189,675 (11.6%) $256,580 (2.4%) 0.00 91
    2024-06-01 $196,500 (14.2%) $264,151 (5.6%) 0.00 92
    2024-07-01 $193,050 (4.4%) $240,850 (-9.8%) 0.00 105
    2024-08-01 $210,000 (11.7%) $242,842 (-7.6%) 0.00 110
    2024-09-01 $199,575 (-3.4%) $239,694 (-12.6%) 0.00 116
    2024-10-01 $199,000 (-3.5%) $238,858 (-12.1%) 0.00 114
    Morgan City's median listing price for 2024-10-01 was $199,000, a difference of $-7,250 (-3.5%) versus the prior year and $-575 versus the prior month.

    Morgan City's median listing price comes in at 0% of the national average.

    Morgan City's average listing price for 2024-10-01 was $238,858, a difference of $-32,836 (-12.1%) versus the prior year and $-836 versus the prior month.

    For the 2024-10-01 period, Morgan City had 114 MLS listings, a difference of -2 listings (-2%) versus the prior month and 19 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Morgan City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,944 sqft
    2018-02-01 0 days 1,919 sqft
    2018-03-01 0 days 1,780 sqft
    2018-04-01 0 days 1,780 sqft
    2018-05-01 0 days 1,783 sqft
    2018-06-01 0 days 1,810 sqft
    2018-07-01 0 days 1,874 sqft
    2018-08-01 0 days 1,862 sqft
    2018-09-01 0 days 1,925 sqft
    2018-10-01 0 days 1,973 sqft
    2018-11-01 0 days 1,982 sqft
    2018-12-01 0 days 2,025 sqft
    2019-01-01 0 days 2,123 sqft
    2019-02-01 0 days 2,011 sqft
    2019-03-01 0 days 1,967 sqft
    2019-04-01 0 days 1,955 sqft
    2019-05-01 0 days 1,947 sqft
    2019-06-01 0 days 1,940 sqft
    2019-07-01 0 days 1,943 sqft
    2019-08-01 0 days 1,952 sqft
    2019-09-01 0 days 1,962 sqft
    2019-10-01 0 days 1,972 sqft
    2019-11-01 0 days 1,960 sqft
    2019-12-01 0 days 1,978 sqft
    2020-01-01 0 days 1,969 sqft
    2020-02-01 0 days 1,991 sqft
    2020-03-01 0 days 1,980 sqft
    2020-04-01 0 days 2,004 sqft
    2020-05-01 0 days 2,107 sqft
    2020-06-01 0 days 2,098 sqft
    2020-07-01 0 days 2,073 sqft
    2020-08-01 0 days 2,088 sqft
    2020-09-01 0 days 2,049 sqft
    2020-10-01 0 days 2,024 sqft
    2020-11-01 0 days 2,041 sqft
    2020-12-01 0 days 2,027 sqft
    2021-01-01 0 days 2,024 sqft
    2021-02-01 0 days 2,041 sqft
    2021-03-01 0 days 1,996 sqft
    2021-04-01 0 days 2,021 sqft
    2021-05-01 0 days 1,889 sqft
    2021-06-01 0 days 1,841 sqft
    2021-07-01 0 days 1,914 sqft
    2021-08-01 0 days 1,926 sqft
    2021-09-01 0 days 1,962 sqft
    2021-10-01 0 days 2,023 sqft
    2021-11-01 0 days 2,030 sqft
    2021-12-01 0 days 1,984 sqft
    2022-01-01 0 days 1,857 sqft
    2022-02-01 0 days 1,992 sqft
    2022-03-01 0 days 2,041 sqft
    2022-04-01 0 days 1,949 sqft
    2022-05-01 0 days 2,050 sqft
    2022-06-01 0 days 2,133 sqft
    2022-07-01 0 days 1,993 sqft
    2022-08-01 0 days 1,794 sqft
    2022-09-01 0 days 1,898 sqft
    2022-10-01 0 days 1,968 sqft
    2022-11-01 0 days 1,984 sqft
    2022-12-01 0 days 1,982 sqft
    2023-01-01 0 days 1,682 sqft
    2023-02-01 0 days 1,676 sqft
    2023-03-01 0 days 1,676 sqft
    2023-04-01 0 days 1,700 sqft
    2023-05-01 0 days 1,678 sqft
    2023-06-01 0 days 1,697 sqft
    2023-07-01 0 days 1,842 sqft
    2023-08-01 0 days 1,986 sqft
    2023-09-01 0 days 2,077 sqft
    2023-10-01 0 days 2,096 sqft
    2023-11-01 0 days 2,001 sqft
    2023-12-01 0 days 1,997 sqft
    2024-01-01 0 days 2,040 sqft
    2024-02-01 0 days 1,951 sqft
    2024-03-01 0 days 1,904 sqft
    2024-04-01 0 days 1,870 sqft
    2024-05-01 0 days 1,940 sqft
    2024-06-01 0 days 1,861 sqft
    2024-07-01 0 days 1,821 sqft
    2024-08-01 0 days 2,047 sqft
    2024-09-01 0 days 1,986 sqft
    2024-10-01 0 days 1,874 sqft
    Morgan City's median listing age (time on market) for 2024-10-01 was 0 days.

    Morgan City's median square footage for active listings during the 2024-10-01 period was 1,874 sqft. One year prior, the average listing was 2,096 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.