Morristown VA Loan Rates, Closing Costs & Stats

MORRISTOWN, TN

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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.

    Morristown's 49 lenders originated 229 VA loans during 2023. The total origination value was $70,895,000, with an average VA loan value of $309,585.

    Morristown VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Morristown averaged 6.37% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Morristown's average VA mortgage closing costs are $5,851.

    The average rate for the prior week (2025-02-07) was 6.6% and one month ago for the week of 2025-01-10, the average rate was 6.54%.

    The average rate one year ago was 6.36%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.6%.

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

    Morristown 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 Morristown level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 38 6.81% $6,773
    DHI MORTGAGE COMPANY, LTD. 33 6.06% $6,405
    UNITED WHOLESALE MORTGAGE, LLC 18 6.16% $12,621
    CMG MORTGAGE, INC. 14 6.53% $10,938
    MORTGAGE INVESTORS GROUP, INC. 14 6.28% $4,999
    QUICKEN LOANS, LLC 7 6.17% $8,755
    The Federal Savings Bank 7 6.05% $14,641
    CARDINAL FINANCIAL 7 6.38% $14,752
    NAVY FEDERAL CREDIT UNION 6 6.08% $3,727
    FIRST COMMUNITY MORTGAGE, INC. 6 6.50% $13,163
    PENNYMAC LOAN SERVICES, LLC 5 5.42% $11,587
    FREEDOM MORTGAGE CORPORATION 5 6.25% $18,719
    MOVEMENT MORTGAGE, LLC 5 6.58% $11,535
    UNION HOME MORTGAGE CORP. 4 6.16% $9,078
    USAA Federal Savings Bank 3 5.71% $7,114
    NEW DAY FINANCIAL, LLC 3 6.83% $6,731
    AMERISAVE MORTGAGE CORPORATION 2 5.63% $8,477
    VILLAGE CAPITAL MORTGAGE 2 6.75% $5,431
    Northpointe Bank 2 7.13% $4,736
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.75% $1,601
    NEWREZ LLC 2 6.50% $6,072
    PLANET HOME LENDING, LLC 2 6.13% $4,924
    STOCKTON MORTGAGE CORPORATION 2 6.25% $7,153
    Equity Prime Mortgage LLC 2 7.38% $3,460
    GUARANTEED RATE, INC. 2 5.86% $7,432
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.44% $6,092
    LOANDEPOT.COM, LLC 2 7.56% $10,991
    Wells Fargo Bank 1 5.75% $96
    Ameris Bank 1 6.75% $9,343
    BROKER SOLUTIONS, INC. 1 7.13% $4,532
    CHURCHILL MORTGAGE CORPORATION 1 6.88% $2,625
    COMPASS MORTGAGE, INC. 1 5.75% $10,246
    CRESCENT MORTGAGE COMPANY 1 6.50% $3,483
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $27,875
    DAS Acquisition Company, LLC 1 6.38% $8,627
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $5,742
    Flanagan State Bank 1 6.75% $1,124
    LAKEVIEW LOAN SERVICING, LLC 1 5.50% $7,101
    NATIONS DIRECT MORTGAGE, LLC 1 5.75% $19,333
    NP, Inc. 1 7.75% $18,133
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.88% $3,955
    RANLIFE, INC. 1 6.38% $14,767
    RELIANCE FIRST CAPITAL, LLC 1 6.50% $7,442
    SeaTrust Mortgage Company 1 6.50% $7,978
    SUN WEST MORTGAGE COMPANY, INC. 1 5.88% $16,612
    TIDEWATER MORTGAGE SERVICES, INC. 1 7.00% $7,031
    TOWNE MORTGAGE COMPANY 1 7.25% $6,152
    Truist 1 6.25% $4,565
    AmeriHome Mortgage Company, LLC 1 6.63% $15,350

    The top Morristown VA lender as defined by loan originations is Mortgage Research Center, LLC, with 38 VA loans originated. Their average total fees are $6,773, which is $367 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Morristown VA lenders (with over 10 loans originated) are MORTGAGE INVESTORS GROUP, INC. ($4,999), DHI MORTGAGE COMPANY, LTD. ($6,405), Mortgage Research Center, LLC ($6,773), CMG MORTGAGE, INC. ($10,938) and UNITED WHOLESALE MORTGAGE, LLC ($12,621).

    The lowest rate Morristown VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (6.06%), UNITED WHOLESALE MORTGAGE, LLC (6.16%), MORTGAGE INVESTORS GROUP, INC. (6.28%), CMG MORTGAGE, INC. (6.53%) and Mortgage Research Center, LLC (6.81%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Morristown (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 $236,725 (33.4%) $315,037 (27.5%) 0.00 485
    2018-02-01 $235,000 (34.3%) $322,566 (32.4%) 0.00 460
    2018-03-01 $229,900 (27.8%) $324,806 (32.1%) 0.00 468
    2018-04-01 $247,700 (25.2%) $332,045 (28.4%) 0.00 457
    2018-05-01 $244,538 (17.4%) $324,043 (17.9%) 0.00 470
    2018-06-01 $241,400 (14.8%) $318,997 (13.6%) 0.00 479
    2018-07-01 $229,900 (10.8%) $304,902 (5.7%) 0.00 504
    2018-08-01 $229,900 (10.8%) $298,484 (-0.2%) 0.00 497
    2018-09-01 $229,825 (6.1%) $301,110 (-1.0%) 0.00 512
    2018-10-01 $216,950 (-2.5%) $294,573 (-2.3%) 0.00 518
    2018-11-01 $214,450 (-1.6%) $287,280 (-6.9%) 0.00 493
    2018-12-01 $215,000 (-6.5%) $280,403 (-9.7%) 0.00 455
    2019-01-01 $219,000 (-7.5%) $281,053 (-10.8%) 0.00 420
    2019-02-01 $219,900 (-6.4%) $285,891 (-11.4%) 0.00 395
    2019-03-01 $234,900 (2.2%) $304,159 (-6.4%) 0.00 374
    2019-04-01 $243,650 (-1.6%) $323,516 (-2.6%) 0.00 370
    2019-05-01 $243,650 (-0.4%) $340,703 (5.1%) 0.00 392
    2019-06-01 $245,000 (1.5%) $343,521 (7.7%) 0.00 419
    2019-07-01 $231,450 (0.7%) $336,519 (10.4%) 0.00 442
    2019-08-01 $229,900 (0.0%) $329,839 (10.5%) 0.00 429
    2019-09-01 $229,900 (0.0%) $324,450 (7.8%) 0.00 417
    2019-10-01 $229,923 (6.0%) $321,722 (9.2%) 0.00 409
    2019-11-01 $229,900 (7.2%) $325,301 (13.2%) 0.00 397
    2019-12-01 $233,675 (8.7%) $324,060 (15.6%) 0.00 362
    2020-01-01 $223,900 (2.2%) $303,796 (8.1%) 0.00 347
    2020-02-01 $229,900 (4.6%) $307,479 (7.6%) 0.00 335
    2020-03-01 $229,900 (-2.1%) $309,545 (1.8%) 0.00 316
    2020-04-01 $231,660 (-4.9%) $305,147 (-5.7%) 0.00 300
    2020-05-01 $249,900 (2.6%) $324,607 (-4.7%) 0.00 277
    2020-06-01 $262,225 (7.0%) $345,732 (0.6%) 0.00 236
    2020-07-01 $271,950 (17.5%) $360,605 (7.2%) 0.00 225
    2020-08-01 $279,900 (21.8%) $375,727 (13.9%) 0.00 212
    2020-09-01 $281,800 (22.6%) $372,727 (14.9%) 0.00 182
    2020-10-01 $255,000 (10.9%) $375,362 (16.7%) 0.00 183
    2020-11-01 $251,819 (9.5%) $369,070 (13.5%) 0.00 195
    2020-12-01 $249,900 (6.9%) $381,096 (17.6%) 0.00 186
    2021-01-01 $247,578 (10.6%) $363,678 (19.7%) 0.00 174
    2021-02-01 $293,475 (27.7%) $393,235 (27.9%) 0.00 142
    2021-03-01 $333,900 (45.2%) $454,028 (46.7%) 0.00 123
    2021-04-01 $325,000 (40.3%) $469,937 (54.0%) 0.00 125
    2021-05-01 $324,900 (30.0%) $493,960 (52.2%) 0.00 123
    2021-06-01 $307,175 (17.1%) $442,449 (28.0%) 0.00 137
    2021-07-01 $329,900 (21.3%) $472,123 (30.9%) 0.00 161
    2021-08-01 $332,000 (18.6%) $484,535 (29.0%) 0.00 175
    2021-09-01 $299,800 (6.4%) $464,827 (24.7%) 0.00 191
    2021-10-01 $299,900 (17.6%) $469,181 (25.0%) 0.00 206
    2021-11-01 $328,000 (30.3%) $462,941 (25.4%) 0.00 206
    2021-12-01 $331,451 (32.6%) $484,792 (27.2%) 0.00 173
    2022-01-01 $324,950 (31.3%) $469,806 (29.2%) 0.00 141
    2022-02-01 $354,675 (20.9%) $528,684 (34.4%) 0.00 128
    2022-03-01 $369,900 (10.8%) $524,918 (15.6%) 0.00 149
    2022-04-01 $327,450 (0.8%) $495,078 (5.4%) 0.00 169
    2022-05-01 $361,950 (11.4%) $496,683 (0.6%) 0.00 197
    2022-06-01 $363,450 (18.3%) $517,335 (16.9%) 0.00 222
    2022-07-01 $359,900 (9.1%) $506,570 (7.3%) 0.00 259
    2022-08-01 $359,450 (8.3%) $501,275 (3.5%) 0.00 245
    2022-09-01 $359,900 (20.1%) $495,184 (6.5%) 0.00 234
    2022-10-01 $359,000 (19.7%) $495,368 (5.6%) 0.00 246
    2022-11-01 $349,900 (6.7%) $496,293 (7.2%) 0.00 279
    2022-12-01 $351,950 (6.2%) $512,530 (5.7%) 0.00 247
    2023-01-01 $339,175 (4.4%) $475,266 (1.2%) 0.00 216
    2023-02-01 $344,900 (-2.8%) $476,414 (-9.9%) 0.00 222
    2023-03-01 $361,950 (-2.2%) $508,779 (-3.1%) 0.00 230
    2023-04-01 $398,000 (21.6%) $523,082 (5.7%) 0.00 212
    2023-05-01 $449,925 (24.3%) $569,764 (14.7%) 0.00 207
    2023-06-01 $449,950 (23.8%) $568,747 (9.9%) 0.00 236
    2023-07-01 $479,900 (33.3%) $706,537 (39.5%) 0.00 243
    2023-08-01 $486,950 (35.5%) $732,331 (46.1%) 0.00 247
    2023-09-01 $459,950 (27.8%) $635,210 (28.3%) 0.00 251
    2023-10-01 $449,900 (25.3%) $607,462 (22.6%) 0.00 274
    2023-11-01 $449,900 (28.6%) $608,969 (22.7%) 0.00 273
    2023-12-01 $444,900 (26.4%) $602,714 (17.6%) 0.00 258
    2024-01-01 $449,950 (32.7%) $611,219 (28.6%) 0.00 242
    2024-02-01 $459,925 (33.4%) $599,394 (25.8%) 0.00 242
    2024-03-01 $449,789 (24.3%) $587,274 (15.4%) 0.00 242
    2024-04-01 $438,855 (10.3%) $593,866 (13.5%) 0.00 245
    2024-05-01 $449,675 (-0.1%) $602,600 (5.8%) 0.00 279
    2024-06-01 $470,000 (4.5%) $620,332 (9.1%) 0.00 278
    2024-07-01 $463,500 (-3.4%) $631,071 (-10.7%) 0.00 340
    2024-08-01 $434,750 (-10.7%) $620,254 (-15.3%) 0.00 363
    2024-09-01 $421,175 (-8.4%) $608,680 (-4.2%) 0.00 404
    2024-10-01 $426,000 (-5.3%) $589,864 (-2.9%) 0.00 416
    2024-11-01 $419,450 (-6.8%) $588,886 (-3.3%) 0.00 414
    2024-12-01 $399,950 (-10.1%) $586,307 (-2.7%) 0.00 396
    2025-01-01 $402,225 (-10.6%) $575,193 (-5.9%) 0.00 367
    Morristown's median listing price for 2025-01-01 was $402,225, a difference of $-47,725 (-10.6%) versus the prior year and $2,275 versus the prior month.

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

    Morristown's average listing price for 2025-01-01 was $575,193, a difference of $-36,026 (-5.9%) versus the prior year and $-11,114 versus the prior month.

    For the 2025-01-01 period, Morristown had 367 MLS listings, a difference of -29 listings (-7%) versus the prior month and 125 listings (52%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Morristown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,935 sqft
    2018-02-01 0 days 1,922 sqft
    2018-03-01 0 days 1,959 sqft
    2018-04-01 0 days 1,984 sqft
    2018-05-01 0 days 1,993 sqft
    2018-06-01 0 days 2,005 sqft
    2018-07-01 0 days 1,951 sqft
    2018-08-01 0 days 1,971 sqft
    2018-09-01 0 days 1,980 sqft
    2018-10-01 0 days 1,999 sqft
    2018-11-01 0 days 1,968 sqft
    2018-12-01 0 days 1,940 sqft
    2019-01-01 0 days 1,960 sqft
    2019-02-01 0 days 1,963 sqft
    2019-03-01 0 days 2,043 sqft
    2019-04-01 0 days 2,067 sqft
    2019-05-01 0 days 2,012 sqft
    2019-06-01 0 days 2,052 sqft
    2019-07-01 0 days 2,023 sqft
    2019-08-01 0 days 2,030 sqft
    2019-09-01 0 days 2,076 sqft
    2019-10-01 0 days 2,103 sqft
    2019-11-01 0 days 2,048 sqft
    2019-12-01 0 days 2,026 sqft
    2020-01-01 0 days 1,914 sqft
    2020-02-01 0 days 1,949 sqft
    2020-03-01 0 days 1,956 sqft
    2020-04-01 0 days 1,952 sqft
    2020-05-01 0 days 1,991 sqft
    2020-06-01 0 days 2,033 sqft
    2020-07-01 0 days 1,990 sqft
    2020-08-01 0 days 2,125 sqft
    2020-09-01 0 days 2,051 sqft
    2020-10-01 0 days 1,937 sqft
    2020-11-01 0 days 1,888 sqft
    2020-12-01 0 days 1,883 sqft
    2021-01-01 0 days 1,836 sqft
    2021-02-01 0 days 1,913 sqft
    2021-03-01 0 days 2,011 sqft
    2021-04-01 0 days 2,048 sqft
    2021-05-01 0 days 2,000 sqft
    2021-06-01 0 days 1,981 sqft
    2021-07-01 0 days 2,040 sqft
    2021-08-01 0 days 1,981 sqft
    2021-09-01 0 days 2,028 sqft
    2021-10-01 0 days 2,021 sqft
    2021-11-01 0 days 1,972 sqft
    2021-12-01 0 days 1,969 sqft
    2022-01-01 0 days 1,935 sqft
    2022-02-01 0 days 1,938 sqft
    2022-03-01 0 days 1,928 sqft
    2022-04-01 0 days 1,800 sqft
    2022-05-01 0 days 1,905 sqft
    2022-06-01 0 days 1,965 sqft
    2022-07-01 0 days 1,968 sqft
    2022-08-01 0 days 2,002 sqft
    2022-09-01 0 days 2,010 sqft
    2022-10-01 0 days 2,009 sqft
    2022-11-01 0 days 1,948 sqft
    2022-12-01 0 days 1,971 sqft
    2023-01-01 0 days 1,906 sqft
    2023-02-01 0 days 1,964 sqft
    2023-03-01 0 days 1,984 sqft
    2023-04-01 0 days 1,988 sqft
    2023-05-01 0 days 2,140 sqft
    2023-06-01 0 days 2,056 sqft
    2023-07-01 0 days 2,192 sqft
    2023-08-01 0 days 2,164 sqft
    2023-09-01 0 days 2,086 sqft
    2023-10-01 0 days 2,049 sqft
    2023-11-01 0 days 2,084 sqft
    2023-12-01 0 days 2,085 sqft
    2024-01-01 0 days 2,063 sqft
    2024-02-01 0 days 2,017 sqft
    2024-03-01 0 days 2,014 sqft
    2024-04-01 0 days 2,010 sqft
    2024-05-01 0 days 2,025 sqft
    2024-06-01 0 days 2,052 sqft
    2024-07-01 0 days 2,000 sqft
    2024-08-01 0 days 2,000 sqft
    2024-09-01 0 days 2,000 sqft
    2024-10-01 0 days 2,007 sqft
    2024-11-01 0 days 2,000 sqft
    2024-12-01 0 days 2,000 sqft
    2025-01-01 0 days 2,000 sqft
    Morristown's median listing age (time on market) for 2025-01-01 was 0 days.

    Morristown's median square footage for active listings during the 2025-01-01 period was 2,000 sqft. One year prior, the average listing was 2,063 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.