Morgan City VA Loan Rates, Closing Costs & Stats
Morgan City, LA
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
7.12%
for the week of 2024-04-19, compared to the national average (all VA variants) of
6.758% for the same period.
Morgan City's average VA mortgage closing costs are $4,283.
The average rate for the prior week (2024-04-12) was
6.65% and
one month ago for the week of 2024-03-15, the
average rate was 6.42%.
The average rate one year ago was 6.31%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.86%.
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 |
Morgan City's median listing price comes in at 0% of the national average.
Morgan City's average listing price for 2024-03-01 was $271,204, a difference of $22,958 (9.3%) versus the prior year and $678 versus the prior month.
For the 2024-03-01 period, Morgan City had 90 MLS listings, a difference of 3 listings (3%) versus the prior month and -3 listings (-3%) 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 |
Morgan City's median square footage for active listings during the 2024-03-01 period was 1,904 sqft. One year prior, the average listing was 1,676 sqft.