Okeechobee VA Loan Rates, Closing Costs & Stats

Okeechobee, FL

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.

Okeechobee's 34 lenders originated 83 VA loans during 2021. The total origination value was $18,735,000, with an average VA loan value of $225,723.

Okeechobee VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Okeechobee averaged 7.03% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

Okeechobee's average VA mortgage closing costs are $5,584.

The average rate for the prior week (2022-11-25) was 7.17% and one month ago for the week of 2022-10-28, the average rate was 7.06%.

The average rate one year ago was 3.84%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.38%.

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

Okeechobee 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 Okeechobee level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Mortgage Research Center, LLC 7 3.18% $9,237
NEW DAY FINANCIAL, LLC 7 2.96% $8,048
FREEDOM MORTGAGE CORPORATION 7 2.59% $8,091
QUICKEN LOANS, LLC 7 2.48% $5,025
LOANDEPOT.COM, LLC 4 2.93% $6,838
UNITED WHOLESALE MORTGAGE, LLC 4 2.71% $7,546
PENNYMAC LOAN SERVICES, LLC 4 2.34% $7,790
CROSSCOUNTRY MORTGAGE, LLC 3 2.88% $9,733
Mr. Cooper ( Nationstar Mortgage ) 2 3.00% $2,294
NAVY FEDERAL CREDIT UNION 2 2.31% $5,423
CALIBER HOME LOANS, INC. 2 2.94% $3,435
South State Bank 2 2.69% $4,410
BROKER SOLUTIONS, INC. 2 2.80% $3,872
MUTUAL OF OMAHA MORTGAGE, INC. 2 3.44% $8,252
North American Savings Bank, F.S.B. 1 2.75% $2,364
PANORAMA MORTGAGE GROUP, LLC 1 3.50% $2,912
PLANET HOME LENDING, LLC 1 2.25% $5,496
Prosperity Home Mortgage, LLC 1 3.75% $11,831
USAA Federal Savings Bank 1 2.88% $12,078
AMERICAN FINANCIAL RESOURCES, INC. 1 2.88% $2,562
VILLAGE CAPITAL MORTGAGE 1 2.50% $2,639
AMERISAVE MORTGAGE CORPORATION 1 2.50% $3,956
CALCON MUTUAL MORTGAGE LLC 1 3.25% $4,018
Carrington Mortgage Services, LLC 1 3.13% $4,878
CLEARPATH LENDING 1 2.25% $6,857
First Federal Bank 1 6.75% $2,047
GENEVA FINANCIAL, LLC 1 3.63% $8,335
Gulf Coast Bank and Trust Company 1 2.88% $3,980
Ixonia Bank 1 2.25% $3,835
LAKEVIEW LOAN SERVICING, LLC 1 2.25% $2,687
MICHIGAN MUTUAL, INC. 1 3.75% $3,784
Mortgage Lenders Investment Trading Corporation 1 4.63% $5,670
MOVEMENT MORTGAGE, LLC 1 3.25% $3,105
NEWREZ LLC 1 2.75% $2,985

The top Okeechobee VA lender as defined by loan originations is Mortgage Research Center, LLC, with 7 VA loans originated. Their average total fees are $9,237, which is $1,189 higher than the next largest lender, NEW DAY FINANCIAL, LLC.

The lowest fee Okeechobee VA lenders (with over 10 loans originated) are .

The lowest rate Okeechobee VA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Okeechobee (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 $143,425 (-3.8%) $217,367 (6.7%) 0.00 150
2018-02-01 $137,200 (-0.2%) $204,748 (5.6%) 0.00 153
2018-03-01 $133,950 (3.0%) $197,075 (3.3%) 0.00 139
2018-04-01 $123,675 (-15.9%) $193,826 (-2.5%) 0.00 140
2018-05-01 $121,175 (-15.7%) $210,650 (6.1%) 0.00 152
2018-06-01 $140,950 (-4.1%) $241,987 (20.7%) 0.00 151
2018-07-01 $152,225 (2.2%) $247,937 (28.4%) 0.00 154
2018-08-01 $142,000 (-4.8%) $222,153 (12.8%) 0.00 159
2018-09-01 $159,000 (6.0%) $218,319 (2.6%) 0.00 167
2018-10-01 $158,925 (-0.1%) $214,344 (-3.8%) 0.00 168
2018-11-01 $165,000 (14.6%) $215,938 (-1.3%) 0.00 181
2018-12-01 $169,500 (18.2%) $228,288 (6.0%) 0.00 181
2019-01-01 $175,625 (22.5%) $231,286 (6.4%) 0.00 189
2019-02-01 $184,225 (34.3%) $228,343 (11.5%) 0.00 184
2019-03-01 $173,429 (29.5%) $231,894 (17.7%) 0.00 196
2019-04-01 $179,000 (44.7%) $250,635 (29.3%) 0.00 196
2019-05-01 $218,500 (80.3%) $301,825 (43.3%) 0.00 147
2019-06-01 $204,000 (44.7%) $274,257 (13.3%) 0.00 158
2019-07-01 $199,900 (31.3%) $251,101 (1.3%) 0.00 156
2019-08-01 $199,777 (40.7%) $246,555 (11.0%) 0.00 155
2019-09-01 $199,593 (25.5%) $245,136 (12.3%) 0.00 160
2019-10-01 $199,225 (25.4%) $244,190 (13.9%) 0.00 163
2019-11-01 $214,500 (30.0%) $251,434 (16.4%) 0.00 174
2019-12-01 $216,000 (27.4%) $263,185 (15.3%) 0.00 173
2020-01-01 $218,725 (24.5%) $270,959 (17.2%) 0.00 169
2020-02-01 $225,000 (22.1%) $263,936 (15.6%) 0.00 165
2020-03-01 $224,000 (29.2%) $263,055 (13.4%) 0.00 150
2020-04-01 $221,000 (23.5%) $249,387 (-0.5%) 0.00 154
2020-05-01 $225,000 (3.0%) $437,990 (45.1%) 0.00 135
2020-06-01 $221,500 (8.6%) $449,267 (63.8%) 0.00 125
2020-07-01 $224,000 (12.1%) $479,089 (90.8%) 0.00 114
2020-08-01 $208,000 (4.1%) $494,757 (100.7%) 0.00 102
2020-09-01 $202,000 (1.2%) $516,477 (110.7%) 0.00 99
2020-10-01 $215,000 (7.9%) $532,366 (118.0%) 0.00 98
2020-11-01 $216,000 (0.7%) $523,995 (108.4%) 0.00 105
2020-12-01 $226,975 (5.1%) $527,679 (100.5%) 0.00 110
2021-01-01 $220,000 (0.6%) $561,540 (107.2%) 0.00 98
2021-02-01 $229,225 (1.9%) $577,657 (118.9%) 0.00 95
2021-03-01 $246,225 (9.9%) $345,091 (31.2%) 0.00 87
2021-04-01 $244,475 (10.6%) $341,269 (36.8%) 0.00 67
2021-05-01 $227,450 (1.1%) $342,746 (-21.8%) 0.00 71
2021-06-01 $225,400 (1.8%) $541,305 (20.5%) 0.00 74
2021-07-01 $239,000 (6.7%) $538,335 (12.4%) 0.00 76
2021-08-01 $271,500 (30.5%) $545,369 (10.2%) 0.00 85
2021-09-01 $275,000 (36.1%) $541,725 (4.9%) 0.00 98
2021-10-01 $310,000 (44.2%) $586,814 (10.2%) 0.00 83
2021-11-01 $339,748 (57.3%) $646,078 (23.3%) 0.00 73
2021-12-01 $350,000 (54.2%) $632,769 (19.9%) 0.00 77
2022-01-01 $349,000 (58.6%) $699,569 (24.6%) 0.00 69
2022-02-01 $349,250 (52.4%) $731,162 (26.6%) 0.00 59
2022-03-01 $356,995 (45.0%) $804,140 (133.0%) 0.00 50
2022-04-01 $354,485 (45.0%) $777,977 (128.0%) 0.00 48
2022-05-01 $369,000 (62.2%) $717,195 (109.3%) 0.00 61
2022-06-01 $338,625 (50.2%) $640,111 (18.3%) 0.00 75
2022-07-01 $339,000 (41.8%) $589,886 (9.6%) 0.00 102
2022-08-01 $353,450 (30.2%) $568,504 (4.2%) 0.00 108
2022-09-01 $344,500 (25.3%) $557,770 (3.0%) 0.00 116
2022-10-01 $350,000 (12.9%) $585,037 (-0.3%) 0.00 123
2022-11-01 $331,100 (-2.6%) $553,009 (-14.4%) 0.00 130
Okeechobee's median listing price for 2022-11-01 was $331,100, a difference of $-8,648 (-2.6%) versus the prior year and $-18,900 versus the prior month.

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

Okeechobee's average listing price for 2022-11-01 was $553,009, a difference of $-93,069 (-14.4%) versus the prior year and $-32,028 versus the prior month.

For the 2022-11-01 period, Okeechobee had 130 MLS listings, a difference of 7 listings (6%) versus the prior month and 57 listings (78%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Okeechobee (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,287 sqft
2018-02-01 0 days 1,215 sqft
2018-03-01 0 days 1,200 sqft
2018-04-01 0 days 1,199 sqft
2018-05-01 0 days 1,244 sqft
2018-06-01 0 days 1,356 sqft
2018-07-01 0 days 1,502 sqft
2018-08-01 0 days 1,471 sqft
2018-09-01 0 days 1,505 sqft
2018-10-01 0 days 1,503 sqft
2018-11-01 0 days 1,511 sqft
2018-12-01 0 days 1,530 sqft
2019-01-01 0 days 1,522 sqft
2019-02-01 0 days 1,481 sqft
2019-03-01 0 days 1,493 sqft
2019-04-01 0 days 1,530 sqft
2019-05-01 0 days 1,708 sqft
2019-06-01 0 days 1,678 sqft
2019-07-01 0 days 1,632 sqft
2019-08-01 0 days 1,628 sqft
2019-09-01 0 days 1,649 sqft
2019-10-01 0 days 1,664 sqft
2019-11-01 0 days 1,648 sqft
2019-12-01 0 days 1,648 sqft
2020-01-01 0 days 1,664 sqft
2020-02-01 0 days 1,666 sqft
2020-03-01 0 days 1,666 sqft
2020-04-01 0 days 1,611 sqft
2020-05-01 0 days 1,575 sqft
2020-06-01 0 days 1,555 sqft
2020-07-01 0 days 1,511 sqft
2020-08-01 0 days 1,485 sqft
2020-09-01 0 days 1,485 sqft
2020-10-01 0 days 1,582 sqft
2020-11-01 0 days 1,609 sqft
2020-12-01 0 days 1,693 sqft
2021-01-01 0 days 1,650 sqft
2021-02-01 0 days 1,773 sqft
2021-03-01 0 days 1,791 sqft
2021-04-01 0 days 1,731 sqft
2021-05-01 0 days 1,535 sqft
2021-06-01 0 days 1,511 sqft
2021-07-01 0 days 1,548 sqft
2021-08-01 0 days 1,666 sqft
2021-09-01 0 days 1,695 sqft
2021-10-01 0 days 1,702 sqft
2021-11-01 0 days 1,819 sqft
2021-12-01 0 days 1,792 sqft
2022-01-01 0 days 1,741 sqft
2022-02-01 0 days 1,776 sqft
2022-03-01 0 days 1,727 sqft
2022-04-01 0 days 1,718 sqft
2022-05-01 0 days 1,649 sqft
2022-06-01 0 days 1,602 sqft
2022-07-01 0 days 1,562 sqft
2022-08-01 0 days 1,665 sqft
2022-09-01 0 days 1,661 sqft
2022-10-01 0 days 1,566 sqft
2022-11-01 0 days 1,510 sqft
Okeechobee's median listing age (time on market) for 2022-11-01 was 0 days.

Okeechobee's median square footage for active listings during the 2022-11-01 period was 1,510 sqft. One year prior, the average listing was 1,819 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.