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 78 lenders originated 352 VA loans during 2024. The total origination value was $111,820,000, with an average VA loan value of $317,670.

    Morristown VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Morristown averaged 6.59% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

    Morristown's average VA mortgage closing costs are $6,182.

    The average rate for the prior week (2025-03-28) was 6.51% and one month ago for the week of 2025-02-28, the average rate was 6.59%.

    The average rate one year ago was 6.7%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.11%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 52 6.51% $5,535
    UNITED WHOLESALE MORTGAGE, LLC 42 6.04% $7,770
    FREEDOM MORTGAGE CORPORATION 22 6.20% $7,538
    QUICKEN LOANS, LLC 22 6.07% $10,462
    CMG MORTGAGE, INC. 15 6.05% $10,499
    DHI MORTGAGE COMPANY, LTD. 13 6.01% $6,372
    MORTGAGE INVESTORS GROUP, INC. 9 6.37% $7,216
    STOCKTON MORTGAGE CORPORATION 8 4.88% $11,182
    NEW DAY FINANCIAL, LLC 8 7.70% $17,410
    UNION HOME MORTGAGE CORP. 7 6.46% $6,703
    PENNYMAC LOAN SERVICES, LLC 7 5.75% $8,155
    NAVY FEDERAL CREDIT UNION 7 5.73% $2,904
    NEWREZ LLC 6 6.25% $5,923
    The Federal Savings Bank 6 6.06% $23,321
    LOANDEPOT.COM, LLC 5 5.75% $12,721
    LAKEVIEW LOAN SERVICING, LLC 5 5.75% $5,585
    MOVEMENT MORTGAGE, LLC 4 5.94% $11,683
    USAA Federal Savings Bank 4 6.72% $4,840
    CROSSCOUNTRY MORTGAGE, LLC 4 6.56% $9,312
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.97% $9,399
    VILLAGE CAPITAL MORTGAGE 4 5.97% $4,507
    FirstBank 3 6.46% $6,763
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.17% $2,657
    Equity Prime Mortgage LLC 3 5.92% $9,107
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 5.96% $11,607
    GUARANTEED RATE, INC. 2 5.50% $8,215
    CARDINAL FINANCIAL 2 7.25% $10,409
    AMERICAN FINANCIAL RESOURCES, INC. 2 7.06% $2,230
    Truist 2 5.63% $4,140
    ROSS MORTGAGE CORPORATION 2 6.37% $5,800
    BROKER SOLUTIONS, INC. 2 6.38% $4,780
    PLANET HOME LENDING, LLC 2 6.06% $2,196
    FIRST COLONY MORTGAGE CORPORATION 2 6.00% $10,344
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.13% $3,583
    Paramount Residential Mortgage Group, Inc. 2 6.69% $3,804
    Mr. Cooper ( Nationstar Mortgage ) 2 7.00% $7,785
    GVC MORTGAGE, INC. 2 6.81% $6,323
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.31% $17,310
    Waterstone Mortgage Corporation 1 7.75% $8,596
    1ST SIGNATURE LENDING, LLC 1 6.63% $22,407
    Wolfe Financial, Inc 1 5.25% $6,439
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $18,670
    AmeriHome Mortgage Company, LLC 1 6.13% $3,613
    AMERISAVE MORTGAGE CORPORATION 1 5.88% $25,623
    Barrington Bank & Trust Company, N.A. 1 6.25% $1,991
    CALCON MUTUAL MORTGAGE LLC 1 6.63% $7,748
    Century Mortgage Company DBA Century Lending Company 1 5.25% $7,438
    Citizens Bank 1 6.75% $22,299
    CLEARPATH LENDING 1 5.50% $3,746
    CORNERSTONE HOME LENDING, INC. 1 7.75% $6,243
    DIRECT MORTGAGE LOANS, LLC 1 4.88% $14,138
    EVERETT FINANCIAL, INC. 1 5.25% $6,149
    First Horizon Bank 1 6.25% $10,647
    GENEVA FINANCIAL, LLC 1 6.25% $30,934
    GUARANTEED RATE AFFINITY, LLC 1 5.75% $5,306
    GUARANTY MORTGAGE SERVICES, L.L.C. 1 7.75% $14,654
    GUILD MORTGAGE COMPANY 1 6.63% $19,869
    HomePromise Corporation 1 7.13% $0
    HOMESIDE FINANCIAL, LLC 1 6.13% $8,015
    INTERCOASTAL MORTGAGE COMPANY 1 6.25% $6,778
    JMJ FINANCIAL GROUP 1 5.63% $4,507
    LADERA LENDING, INC. 1 5.75% $21,949
    Magnolia Bank 1 5.99% $19,115
    MID AMERICA MORTGAGE, INC. 1 7.25% $4,739
    Mid-Continent Funding, Inc. 1 4.88% $5,196
    MILEND, INC. 1 6.63% $8,860
    PLAZA HOME MORTGAGE, INC. 1 7.25% $16,592
    ROYAL UNITED MORTGAGE LLC 1 6.00% $11,975
    S1L, Inc. 1 6.63% $6,545
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.25% $4,127
    SOUTHWEST FUNDING, LP 1 5.88% $5,376
    SUN WEST MORTGAGE COMPANY, INC. 1 5.38% $7,207
    The Central Trust Bank 1 6.00% $17,014
    The Huntington National Bank 1 6.75% $3,745
    The Loan Store, Inc. 1 5.25% $10,861
    U.S. Bank 1 5.75% $7,114
    VAN DYK MORTGAGE CORPORATION 1 5.13% $13,380
    VERITAS FUNDING, LLC 1 6.25% $13,252

    The top Morristown VA lender as defined by loan originations is Mortgage Research Center, LLC, with 52 VA loans originated. Their average total fees are $5,535, which is $2,235 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Morristown VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,535), DHI MORTGAGE COMPANY, LTD. ($6,372), FREEDOM MORTGAGE CORPORATION ($7,538), UNITED WHOLESALE MORTGAGE, LLC ($7,770) and QUICKEN LOANS, LLC ($10,462).

    The lowest rate Morristown VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (6.01%), UNITED WHOLESALE MORTGAGE, LLC (6.04%), CMG MORTGAGE, INC. (6.05%), QUICKEN LOANS, LLC (6.07%) and FREEDOM MORTGAGE CORPORATION (6.20%).

    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
    2025-02-01 $407,238 (-11.5%) $586,215 (-2.2%) 0.00 362
    2025-03-01 $429,700 (-4.5%) $603,076 (2.7%) 0.00 365
    Morristown's median listing price for 2025-03-01 was $429,700, a difference of $-20,089 (-4.5%) versus the prior year and $22,462 versus the prior month.

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

    Morristown's average listing price for 2025-03-01 was $603,076, a difference of $15,802 (2.7%) versus the prior year and $16,861 versus the prior month.

    For the 2025-03-01 period, Morristown had 365 MLS listings, a difference of 3 listings (1%) versus the prior month and 123 listings (51%) 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
    2025-02-01 0 days 2,049 sqft
    2025-03-01 0 days 2,080 sqft
    Morristown's median listing age (time on market) for 2025-03-01 was 0 days.

    Morristown's median square footage for active listings during the 2025-03-01 period was 2,080 sqft. One year prior, the average listing was 2,014 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.