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 75 lenders originated 386 VA loans during 2022. The total origination value was $109,670,000, with an average VA loan value of $284,119.
Morristown VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Morristown
averaged
-0.04%
for the week of 2023-11-24, compared to the national average (all VA variants) of
0% for the same period.
Morristown's average VA mortgage closing costs are $5,543.
The average rate for the prior week (2023-11-17) was
6.7% and
one month ago for the week of 2023-10-20, the
average rate was 7.03%.
The average rate one year ago was 6.25%.
For refis of the same type during the week of 2023-11-24, the average rate
was -1.1%.
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
66 VA loans originated. Their average total fees are
$6,848, which is $755
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. ($5,451), USAA Federal Savings Bank ($5,919), DHI MORTGAGE COMPANY, LTD. ($6,093), Mortgage Research Center, LLC ($6,848) and PENNYMAC LOAN SERVICES, LLC ($7,791).
The lowest rate Morristown VA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (3.76%), NAVY FEDERAL CREDIT UNION (3.97%), DHI MORTGAGE COMPANY, LTD. (4.24%), FREEDOM MORTGAGE CORPORATION (4.30%) and MORTGAGE INVESTORS GROUP, INC. (4.34%).
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%) | $309,552 (25.2%) | 0.00 | 588 |
2018-02-01 | $226,675 (28.9%) | $314,450 (27.6%) | 0.00 | 558 |
2018-03-01 | $229,900 (27.8%) | $317,604 (27.0%) | 0.00 | 563 |
2018-04-01 | $237,450 (21.8%) | $322,576 (23.7%) | 0.00 | 560 |
2018-05-01 | $237,325 (18.0%) | $315,803 (15.4%) | 0.00 | 587 |
2018-06-01 | $239,900 (16.9%) | $312,359 (11.6%) | 0.00 | 588 |
2018-07-01 | $229,900 (15.0%) | $303,257 (5.9%) | 0.00 | 612 |
2018-08-01 | $229,925 (13.6%) | $298,688 (0.8%) | 0.00 | 606 |
2018-09-01 | $229,900 (7.1%) | $299,622 (-0.3%) | 0.00 | 632 |
2018-10-01 | $217,400 (0.3%) | $290,914 (-2.9%) | 0.00 | 633 |
2018-11-01 | $212,400 (-0.7%) | $283,667 (-7.5%) | 0.00 | 595 |
2018-12-01 | $214,900 (0.0%) | $278,039 (-9.2%) | 0.00 | 548 |
2019-01-01 | $215,000 (-4.4%) | $278,279 (-10.1%) | 0.00 | 497 |
2019-02-01 | $219,675 (-3.1%) | $283,942 (-9.7%) | 0.00 | 475 |
2019-03-01 | $231,357 (0.6%) | $304,772 (-4.0%) | 0.00 | 450 |
2019-04-01 | $239,900 (1.0%) | $322,426 (-0.1%) | 0.00 | 449 |
2019-05-01 | $248,425 (4.7%) | $334,571 (5.9%) | 0.00 | 474 |
2019-06-01 | $249,900 (4.2%) | $342,057 (9.5%) | 0.00 | 497 |
2019-07-01 | $237,150 (3.2%) | $334,399 (10.3%) | 0.00 | 515 |
2019-08-01 | $233,173 (1.4%) | $330,163 (10.5%) | 0.00 | 510 |
2019-09-01 | $231,332 (0.6%) | $324,730 (8.4%) | 0.00 | 505 |
2019-10-01 | $235,105 (8.1%) | $323,256 (11.1%) | 0.00 | 500 |
2019-11-01 | $235,000 (10.6%) | $325,764 (14.8%) | 0.00 | 483 |
2019-12-01 | $237,200 (10.4%) | $325,462 (17.1%) | 0.00 | 438 |
2020-01-01 | $225,000 (4.7%) | $309,086 (11.1%) | 0.00 | 414 |
2020-02-01 | $232,210 (5.7%) | $312,914 (10.2%) | 0.00 | 393 |
2020-03-01 | $229,900 (-0.6%) | $310,395 (1.8%) | 0.00 | 380 |
2020-04-01 | $237,165 (-1.1%) | $311,566 (-3.4%) | 0.00 | 352 |
2020-05-01 | $249,900 (0.6%) | $324,581 (-3.0%) | 0.00 | 332 |
2020-06-01 | $270,725 (8.3%) | $355,835 (4.0%) | 0.00 | 286 |
2020-07-01 | $278,700 (17.5%) | $365,837 (9.4%) | 0.00 | 268 |
2020-08-01 | $279,900 (20.0%) | $372,456 (12.8%) | 0.00 | 248 |
2020-09-01 | $293,450 (26.9%) | $376,459 (15.9%) | 0.00 | 213 |
2020-10-01 | $255,450 (8.7%) | $385,075 (19.1%) | 0.00 | 216 |
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 | $287,425 (23.8%) | $384,323 (22.8%) | 0.00 | 165 |
2021-03-01 | $333,675 (45.1%) | $444,542 (43.2%) | 0.00 | 148 |
2021-04-01 | $335,000 (41.3%) | $464,411 (49.1%) | 0.00 | 148 |
2021-05-01 | $339,950 (36.0%) | $502,665 (54.9%) | 0.00 | 148 |
2021-06-01 | $322,200 (19.0%) | $455,550 (28.0%) | 0.00 | 166 |
2021-07-01 | $334,450 (20.0%) | $474,415 (29.7%) | 0.00 | 193 |
2021-08-01 | $324,900 (16.1%) | $476,468 (27.9%) | 0.00 | 209 |
2021-09-01 | $312,450 (6.5%) | $467,009 (24.1%) | 0.00 | 231 |
2021-10-01 | $307,900 (20.5%) | $465,881 (21.0%) | 0.00 | 247 |
2021-11-01 | $325,000 (27.5%) | $462,598 (24.0%) | 0.00 | 238 |
2021-12-01 | $334,450 (33.2%) | $487,005 (25.2%) | 0.00 | 196 |
2022-01-01 | $329,450 (31.8%) | $465,937 (23.7%) | 0.00 | 159 |
2022-02-01 | $355,925 (23.8%) | $508,113 (32.2%) | 0.00 | 137 |
2022-03-01 | $346,466 (3.8%) | $489,865 (10.2%) | 0.00 | 162 |
2022-04-01 | $359,000 (7.2%) | $506,597 (9.1%) | 0.00 | 183 |
2022-05-01 | $379,950 (11.8%) | $504,149 (0.3%) | 0.00 | 219 |
2022-06-01 | $384,900 (19.5%) | $515,146 (13.1%) | 0.00 | 248 |
2022-07-01 | $375,000 (12.1%) | $504,270 (6.3%) | 0.00 | 307 |
2022-08-01 | $360,725 (11.0%) | $494,406 (3.8%) | 0.00 | 298 |
2022-09-01 | $370,925 (18.7%) | $493,419 (5.7%) | 0.00 | 282 |
2022-10-01 | $349,900 (13.6%) | $487,149 (4.6%) | 0.00 | 304 |
2022-11-01 | $344,000 (5.9%) | $488,448 (5.6%) | 0.00 | 334 |
2022-12-01 | $350,000 (4.7%) | $501,532 (3.0%) | 0.00 | 297 |
2023-01-01 | $346,118 (5.1%) | $470,740 (1.0%) | 0.00 | 270 |
2023-02-01 | $349,700 (-1.8%) | $475,485 (-6.4%) | 0.00 | 280 |
2023-03-01 | $384,950 (11.1%) | $509,310 (4.0%) | 0.00 | 285 |
2023-04-01 | $399,900 (11.4%) | $520,300 (2.7%) | 0.00 | 257 |
2023-05-01 | $449,975 (18.4%) | $567,682 (12.6%) | 0.00 | 255 |
2023-06-01 | $457,450 (18.9%) | $565,499 (9.8%) | 0.00 | 275 |
2023-07-01 | $462,500 (23.3%) | $679,906 (34.8%) | 0.00 | 286 |
2023-08-01 | $454,675 (26.0%) | $682,377 (38.0%) | 0.00 | 298 |
2023-09-01 | $454,500 (22.5%) | $611,972 (24.0%) | 0.00 | 303 |
2023-10-01 | $449,900 (28.6%) | $599,079 (23.0%) | 0.00 | 328 |
Morristown's median listing price comes in at 0% of the national average.
Morristown's average listing price for 2023-10-01 was $599,079, a difference of $111,930 (23.0%) versus the prior year and $-12,893 versus the prior month.
For the 2023-10-01 period, Morristown had 328 MLS listings, a difference of 25 listings (8%) versus the prior month and 24 listings (8%) 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 | 1,883 sqft |
2018-02-01 | 0 days | 1,904 sqft |
2018-03-01 | 0 days | 1,920 sqft |
2018-04-01 | 0 days | 1,969 sqft |
2018-05-01 | 0 days | 1,971 sqft |
2018-06-01 | 0 days | 1,980 sqft |
2018-07-01 | 0 days | 1,942 sqft |
2018-08-01 | 0 days | 1,947 sqft |
2018-09-01 | 0 days | 1,962 sqft |
2018-10-01 | 0 days | 1,958 sqft |
2018-11-01 | 0 days | 1,944 sqft |
2018-12-01 | 0 days | 1,931 sqft |
2019-01-01 | 0 days | 1,939 sqft |
2019-02-01 | 0 days | 1,942 sqft |
2019-03-01 | 0 days | 2,011 sqft |
2019-04-01 | 0 days | 2,038 sqft |
2019-05-01 | 0 days | 2,009 sqft |
2019-06-01 | 0 days | 2,052 sqft |
2019-07-01 | 0 days | 2,004 sqft |
2019-08-01 | 0 days | 2,003 sqft |
2019-09-01 | 0 days | 2,021 sqft |
2019-10-01 | 0 days | 2,046 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 | 1,993 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 | 1,832 sqft |
2021-03-01 | 0 days | 1,958 sqft |
2021-04-01 | 0 days | 2,014 sqft |
2021-05-01 | 0 days | 2,000 sqft |
2021-06-01 | 0 days | 1,966 sqft |
2021-07-01 | 0 days | 2,018 sqft |
2021-08-01 | 0 days | 1,948 sqft |
2021-09-01 | 0 days | 2,031 sqft |
2021-10-01 | 0 days | 2,070 sqft |
2021-11-01 | 0 days | 2,011 sqft |
2021-12-01 | 0 days | 2,017 sqft |
2022-01-01 | 0 days | 1,920 sqft |
2022-02-01 | 0 days | 1,889 sqft |
2022-03-01 | 0 days | 1,935 sqft |
2022-04-01 | 0 days | 1,863 sqft |
2022-05-01 | 0 days | 1,940 sqft |
2022-06-01 | 0 days | 1,987 sqft |
2022-07-01 | 0 days | 1,991 sqft |
2022-08-01 | 0 days | 1,985 sqft |
2022-09-01 | 0 days | 2,019 sqft |
2022-10-01 | 0 days | 1,981 sqft |
2022-11-01 | 0 days | 1,910 sqft |
2022-12-01 | 0 days | 1,943 sqft |
2023-01-01 | 0 days | 1,871 sqft |
2023-02-01 | 0 days | 1,937 sqft |
2023-03-01 | 0 days | 1,997 sqft |
2023-04-01 | 0 days | 2,048 sqft |
2023-05-01 | 0 days | 2,221 sqft |
2023-06-01 | 0 days | 2,117 sqft |
2023-07-01 | 0 days | 2,200 sqft |
2023-08-01 | 0 days | 2,146 sqft |
2023-09-01 | 0 days | 2,094 sqft |
2023-10-01 | 0 days | 2,078 sqft |
Morristown's median square footage for active listings during the 2023-10-01 period was 2,078 sqft. One year prior, the average listing was 1,981 sqft.