Morristown VA Loan Rates, Closing Costs & Stats
MORRISTOWN, TN
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
-0.06%
for the week of 2024-11-29, compared to the national average (all VA variants) of
0% for the same period.
Morristown's average VA mortgage closing costs are $5,851.
The average rate for the prior week (2024-11-22) was
6.31% and
one month ago for the week of 2024-10-25, the
average rate was 6.2%.
The average rate one year ago was 6.75%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.03%.
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.
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $224,900 (28.6%) | $310,620 (25.4%) | 0.00 | 589 |
2018-02-01 | $228,450 (29.8%) | $315,569 (27.9%) | 0.00 | 559 |
2018-03-01 | $229,900 (27.8%) | $318,865 (27.4%) | 0.00 | 563 |
2018-04-01 | $235,000 (18.8%) | $322,461 (23.4%) | 0.00 | 559 |
2018-05-01 | $237,200 (17.2%) | $315,681 (15.2%) | 0.00 | 586 |
2018-06-01 | $237,813 (15.6%) | $312,233 (11.4%) | 0.00 | 587 |
2018-07-01 | $229,900 (15.0%) | $303,625 (5.9%) | 0.00 | 611 |
2018-08-01 | $229,975 (11.6%) | $299,570 (1.0%) | 0.00 | 607 |
2018-09-01 | $229,900 (7.0%) | $300,457 (-0.5%) | 0.00 | 633 |
2018-10-01 | $217,400 (-0.2%) | $291,761 (-3.0%) | 0.00 | 634 |
2018-11-01 | $212,425 (-1.4%) | $286,210 (-6.9%) | 0.00 | 596 |
2018-12-01 | $214,900 (0.0%) | $279,023 (-9.2%) | 0.00 | 549 |
2019-01-01 | $215,000 (-4.4%) | $279,381 (-10.1%) | 0.00 | 498 |
2019-02-01 | $219,900 (-3.7%) | $284,995 (-9.7%) | 0.00 | 476 |
2019-03-01 | $231,386 (0.7%) | $305,404 (-4.2%) | 0.00 | 451 |
2019-04-01 | $239,900 (2.1%) | $322,426 (0.0%) | 0.00 | 449 |
2019-05-01 | $249,450 (5.2%) | $334,485 (6.0%) | 0.00 | 475 |
2019-06-01 | $249,900 (5.1%) | $341,872 (9.5%) | 0.00 | 498 |
2019-07-01 | $237,400 (3.3%) | $334,237 (10.1%) | 0.00 | 516 |
2019-08-01 | $233,536 (1.6%) | $330,007 (10.2%) | 0.00 | 511 |
2019-09-01 | $231,491 (0.7%) | $324,584 (8.0%) | 0.00 | 506 |
2019-10-01 | $235,127 (8.2%) | $323,112 (10.8%) | 0.00 | 501 |
2019-11-01 | $235,000 (10.6%) | $325,764 (13.8%) | 0.00 | 484 |
2019-12-01 | $237,200 (10.4%) | $325,462 (16.6%) | 0.00 | 438 |
2020-01-01 | $225,000 (4.7%) | $309,086 (10.6%) | 0.00 | 414 |
2020-02-01 | $232,210 (5.6%) | $312,914 (9.8%) | 0.00 | 393 |
2020-03-01 | $229,900 (-0.6%) | $310,395 (1.6%) | 0.00 | 380 |
2020-04-01 | $237,165 (-1.1%) | $311,566 (-3.4%) | 0.00 | 352 |
2020-05-01 | $249,900 (0.2%) | $324,581 (-3.0%) | 0.00 | 332 |
2020-06-01 | $270,725 (8.3%) | $355,835 (4.1%) | 0.00 | 286 |
2020-07-01 | $278,700 (17.4%) | $365,537 (9.4%) | 0.00 | 270 |
2020-08-01 | $279,900 (19.9%) | $372,456 (12.9%) | 0.00 | 250 |
2020-09-01 | $294,675 (27.3%) | $376,851 (16.1%) | 0.00 | 214 |
2020-10-01 | $255,450 (8.6%) | $385,075 (19.2%) | 0.00 | 215 |
2020-11-01 | $254,900 (8.5%) | $373,221 (14.6%) | 0.00 | 238 |
2020-12-01 | $251,175 (5.9%) | $388,901 (19.5%) | 0.00 | 223 |
2021-01-01 | $249,900 (11.1%) | $376,602 (21.8%) | 0.00 | 203 |
2021-02-01 | $287,450 (23.8%) | $384,904 (23.0%) | 0.00 | 163 |
2021-03-01 | $332,450 (44.6%) | $444,308 (43.1%) | 0.00 | 147 |
2021-04-01 | $336,450 (41.9%) | $467,511 (50.1%) | 0.00 | 149 |
2021-05-01 | $344,900 (38.0%) | $506,156 (55.9%) | 0.00 | 150 |
2021-06-01 | $322,200 (19.0%) | $457,727 (28.6%) | 0.00 | 167 |
2021-07-01 | $339,900 (22.0%) | $476,263 (30.3%) | 0.00 | 196 |
2021-08-01 | $334,800 (19.6%) | $485,406 (30.3%) | 0.00 | 217 |
2021-09-01 | $312,450 (6.0%) | $467,009 (23.9%) | 0.00 | 237 |
2021-10-01 | $314,900 (23.3%) | $469,791 (22.0%) | 0.00 | 253 |
2021-11-01 | $329,000 (29.1%) | $466,999 (25.1%) | 0.00 | 244 |
2021-12-01 | $334,711 (33.3%) | $488,153 (25.5%) | 0.00 | 205 |
2022-01-01 | $329,900 (32.0%) | $467,361 (24.1%) | 0.00 | 173 |
2022-02-01 | $359,675 (25.1%) | $517,271 (34.4%) | 0.00 | 149 |
2022-03-01 | $369,900 (11.3%) | $524,227 (18.0%) | 0.00 | 177 |
2022-04-01 | $359,000 (6.7%) | $505,669 (8.2%) | 0.00 | 201 |
2022-05-01 | $379,900 (10.2%) | $501,771 (-0.9%) | 0.00 | 237 |
2022-06-01 | $381,925 (18.5%) | $512,633 (12.0%) | 0.00 | 265 |
2022-07-01 | $375,000 (10.3%) | $505,341 (6.1%) | 0.00 | 307 |
2022-08-01 | $364,450 (8.9%) | $500,143 (3.0%) | 0.00 | 299 |
2022-09-01 | $370,925 (18.7%) | $495,957 (6.2%) | 0.00 | 285 |
2022-10-01 | $359,000 (14.0%) | $491,454 (4.6%) | 0.00 | 307 |
2022-11-01 | $349,536 (6.2%) | $492,586 (5.5%) | 0.00 | 337 |
2022-12-01 | $350,000 (4.6%) | $505,753 (3.6%) | 0.00 | 298 |
2023-01-01 | $347,559 (5.4%) | $471,006 (0.8%) | 0.00 | 268 |
2023-02-01 | $352,675 (-2.0%) | $476,851 (-7.8%) | 0.00 | 278 |
2023-03-01 | $386,175 (4.4%) | $509,692 (-2.8%) | 0.00 | 284 |
2023-04-01 | $399,900 (11.4%) | $520,300 (2.9%) | 0.00 | 257 |
2023-05-01 | $449,925 (18.4%) | $565,455 (12.7%) | 0.00 | 255 |
2023-06-01 | $451,225 (18.1%) | $563,321 (9.9%) | 0.00 | 277 |
2023-07-01 | $462,500 (23.3%) | $680,561 (34.7%) | 0.00 | 286 |
2023-08-01 | $454,675 (24.8%) | $682,377 (36.4%) | 0.00 | 298 |
2023-09-01 | $454,500 (22.5%) | $611,972 (23.4%) | 0.00 | 303 |
2023-10-01 | $449,900 (25.3%) | $599,079 (21.9%) | 0.00 | 328 |
2023-11-01 | $449,900 (28.7%) | $610,857 (24.0%) | 0.00 | 338 |
2023-12-01 | $449,900 (28.5%) | $609,376 (20.5%) | 0.00 | 333 |
2024-01-01 | $452,450 (30.2%) | $612,081 (30.0%) | 0.00 | 318 |
2024-02-01 | $465,950 (32.1%) | $607,392 (27.4%) | 0.00 | 313 |
2024-03-01 | $449,789 (16.5%) | $597,323 (17.2%) | 0.00 | 316 |
2024-04-01 | $449,900 (12.5%) | $605,207 (16.3%) | 0.00 | 321 |
2024-05-01 | $473,750 (5.3%) | $613,952 (8.6%) | 0.00 | 351 |
2024-06-01 | $483,450 (7.1%) | $627,947 (11.5%) | 0.00 | 356 |
2024-07-01 | $469,375 (1.5%) | $636,278 (-6.5%) | 0.00 | 424 |
2024-08-01 | $450,000 (-1.0%) | $627,951 (-8.0%) | 0.00 | 446 |
2024-09-01 | $430,663 (-5.2%) | $609,026 (-0.5%) | 0.00 | 501 |
2024-10-01 | $433,600 (-3.6%) | $594,296 (-0.8%) | 0.00 | 508 |
Morristown's median listing price comes in at 0% of the national average.
Morristown's average listing price for 2024-10-01 was $594,296, a difference of $-4,783 (-0.8%) versus the prior year and $-14,730 versus the prior month.
For the 2024-10-01 period, Morristown had 508 MLS listings, a difference of 7 listings (1%) versus the prior month and 180 listings (55%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Morristown (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,892 sqft |
2018-02-01 | 0 days | 1,907 sqft |
2018-03-01 | 0 days | 1,920 sqft |
2018-04-01 | 0 days | 1,969 sqft |
2018-05-01 | 0 days | 1,972 sqft |
2018-06-01 | 0 days | 1,980 sqft |
2018-07-01 | 0 days | 1,942 sqft |
2018-08-01 | 0 days | 1,950 sqft |
2018-09-01 | 0 days | 1,968 sqft |
2018-10-01 | 0 days | 1,961 sqft |
2018-11-01 | 0 days | 1,947 sqft |
2018-12-01 | 0 days | 1,936 sqft |
2019-01-01 | 0 days | 1,940 sqft |
2019-02-01 | 0 days | 1,943 sqft |
2019-03-01 | 0 days | 2,015 sqft |
2019-04-01 | 0 days | 2,039 sqft |
2019-05-01 | 0 days | 2,009 sqft |
2019-06-01 | 0 days | 2,048 sqft |
2019-07-01 | 0 days | 2,000 sqft |
2019-08-01 | 0 days | 1,997 sqft |
2019-09-01 | 0 days | 2,017 sqft |
2019-10-01 | 0 days | 2,045 sqft |
2019-11-01 | 0 days | 2,000 sqft |
2019-12-01 | 0 days | 1,973 sqft |
2020-01-01 | 0 days | 1,883 sqft |
2020-02-01 | 0 days | 1,914 sqft |
2020-03-01 | 0 days | 1,881 sqft |
2020-04-01 | 0 days | 1,904 sqft |
2020-05-01 | 0 days | 1,944 sqft |
2020-06-01 | 0 days | 1,992 sqft |
2020-07-01 | 0 days | 1,965 sqft |
2020-08-01 | 0 days | 2,016 sqft |
2020-09-01 | 0 days | 2,037 sqft |
2020-10-01 | 0 days | 1,900 sqft |
2020-11-01 | 0 days | 1,859 sqft |
2020-12-01 | 0 days | 1,876 sqft |
2021-01-01 | 0 days | 1,820 sqft |
2021-02-01 | 0 days | 1,842 sqft |
2021-03-01 | 0 days | 1,963 sqft |
2021-04-01 | 0 days | 2,047 sqft |
2021-05-01 | 0 days | 2,007 sqft |
2021-06-01 | 0 days | 1,967 sqft |
2021-07-01 | 0 days | 2,022 sqft |
2021-08-01 | 0 days | 1,983 sqft |
2021-09-01 | 0 days | 2,031 sqft |
2021-10-01 | 0 days | 2,112 sqft |
2021-11-01 | 0 days | 2,024 sqft |
2021-12-01 | 0 days | 2,046 sqft |
2022-01-01 | 0 days | 1,920 sqft |
2022-02-01 | 0 days | 1,903 sqft |
2022-03-01 | 0 days | 1,967 sqft |
2022-04-01 | 0 days | 1,821 sqft |
2022-05-01 | 0 days | 1,928 sqft |
2022-06-01 | 0 days | 1,971 sqft |
2022-07-01 | 0 days | 1,980 sqft |
2022-08-01 | 0 days | 1,984 sqft |
2022-09-01 | 0 days | 2,008 sqft |
2022-10-01 | 0 days | 1,971 sqft |
2022-11-01 | 0 days | 1,907 sqft |
2022-12-01 | 0 days | 1,948 sqft |
2023-01-01 | 0 days | 1,861 sqft |
2023-02-01 | 0 days | 1,966 sqft |
2023-03-01 | 0 days | 2,001 sqft |
2023-04-01 | 0 days | 2,048 sqft |
2023-05-01 | 0 days | 2,171 sqft |
2023-06-01 | 0 days | 2,082 sqft |
2023-07-01 | 0 days | 2,200 sqft |
2023-08-01 | 0 days | 2,146 sqft |
2023-09-01 | 0 days | 2,088 sqft |
2023-10-01 | 0 days | 2,078 sqft |
2023-11-01 | 0 days | 2,091 sqft |
2023-12-01 | 0 days | 2,099 sqft |
2024-01-01 | 0 days | 2,088 sqft |
2024-02-01 | 0 days | 2,086 sqft |
2024-03-01 | 0 days | 2,014 sqft |
2024-04-01 | 0 days | 2,048 sqft |
2024-05-01 | 0 days | 2,047 sqft |
2024-06-01 | 0 days | 2,065 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 | 2,032 sqft |
Morristown's median square footage for active listings during the 2024-10-01 period was 2,032 sqft. One year prior, the average listing was 2,078 sqft.