Owensboro VA Loan Rates, Closing Costs & Stats

OWENSBORO, KY

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.

Owensboro's 37 lenders originated 141 VA loans during 2022. The total origination value was $33,385,000, with an average VA loan value of $236,773.

Owensboro VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Owensboro averaged -0.34% for the week of 2024-02-23, compared to the national average (all VA variants) of 0% for the same period.

Owensboro's average VA mortgage closing costs are $4,618.

The average rate for the prior week (2024-02-16) was 6.24% and one month ago for the week of 2024-01-19, the average rate was 5.99%.

The average rate one year ago was 6.01%.

For refis of the same type during the week of 2024-02-23, the average rate was -0.83%.

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

Owensboro 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 Owensboro level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 31 5.03% $6,696
EVANSVILLE TEACHERS 17 4.73% $6,790
FBC MORTGAGE, LLC 12 4.49% $6,430
QUICKEN LOANS, LLC 9 4.36% $7,350
USAA Federal Savings Bank 9 3.71% $5,884
U.S. Bank 6 4.52% $10,810
UNITED WHOLESALE MORTGAGE, LLC 5 4.15% $8,487
MOVEMENT MORTGAGE, LLC 4 5.41% $8,091
RUOFF MORTGAGE COMPANY, INC. 4 6.00% $3,583
SOUTH CENTRAL BANK, INC. 3 5.63% $4,441
PENNYMAC LOAN SERVICES, LLC 3 3.21% $4,532
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.94% $830
LOANDEPOT.COM, LLC 2 3.49% $13,530
German American Bank 2 6.13% $4,605
TOP FLITE FINANCIAL, INC. 2 4.19% $10,930
NAVY FEDERAL CREDIT UNION 2 4.25% $5,706
FREEDOM MORTGAGE CORPORATION 2 4.00% $3,678
Equity Prime Mortgage LLC 2 6.56% $10,509
The Federal Savings Bank 1 5.63% $11,734
Mr. Cooper ( Nationstar Mortgage ) 1 4.63% $5,302
AMERISAVE MORTGAGE CORPORATION 1 3.25% $3,986
Barrington Bank & Trust Company, N.A. 1 4.00% $4,395
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 4.63% $5,175
EVERETT FINANCIAL, INC. 1 5.50% $3,439
JPMorgan Chase Bank 1 2.75% $4,640
Low VA Rates, LLC 1 5.75% $2,048
Magnolia Bank 1 5.25% $3,010
MORTGAGE MASTERS OF INDIANA, INC. 1 5.50% $7,915
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.25% $7,502
Nations Lending Corporation 1 4.25% $10,153
NEW DAY FINANCIAL, LLC 1 5.74% $2,557
Old National Bank 1 3.00% $13,023
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.25% $10,490
RELIANCE FIRST CAPITAL, LLC 1 5.75% $6,504
Sierra Pacific Mortgage Company, Inc. 1 3.88% $2,798
SOUTHWEST FUNDING, LP 1 6.38% $10,409
STOCKTON MORTGAGE CORPORATION 1 3.63% $2,598

The top Owensboro VA lender as defined by loan originations is Mortgage Research Center, LLC, with 31 VA loans originated. Their average total fees are $6,696, which is $95 lower than the next largest lender, EVANSVILLE TEACHERS.

The lowest fee Owensboro VA lenders (with over 10 loans originated) are FBC MORTGAGE, LLC ($6,430), Mortgage Research Center, LLC ($6,696), EVANSVILLE TEACHERS ($6,790), .

The lowest rate Owensboro VA lenders (with over 10 loans originated) are FBC MORTGAGE, LLC (4.49%), EVANSVILLE TEACHERS (4.73%), Mortgage Research Center, LLC (5.03%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Owensboro (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 $171,897 (10.8%) $245,114 (23.0%) 0.00 274
2018-02-01 $174,197 (7.3%) $247,681 (25.4%) 0.00 269
2018-03-01 $172,900 (2.9%) $240,004 (19.4%) 0.00 261
2018-04-01 $174,769 (0.9%) $246,403 (15.4%) 0.00 267
2018-05-01 $174,975 (-2.1%) $251,602 (6.8%) 0.00 265
2018-06-01 $184,900 (6.9%) $329,892 (41.8%) 0.00 284
2018-07-01 $187,400 (7.2%) $321,173 (33.8%) 0.00 308
2018-08-01 $186,900 (0.7%) $314,275 (28.7%) 0.00 327
2018-09-01 $179,900 (5.9%) $311,301 (30.3%) 0.00 327
2018-10-01 $182,400 (9.0%) $306,229 (28.7%) 0.00 338
2018-11-01 $179,742 (9.1%) $302,974 (29.7%) 0.00 337
2018-12-01 $184,900 (9.1%) $315,070 (34.3%) 0.00 300
2019-01-01 $179,875 (1.7%) $320,601 (30.8%) 0.00 284
2019-02-01 $187,200 (1.7%) $320,592 (29.4%) 0.00 271
2019-03-01 $198,264 (11.2%) $331,545 (38.1%) 0.00 256
2019-04-01 $212,450 (17.0%) $344,574 (39.8%) 0.00 250
2019-05-01 $214,500 (17.4%) $336,873 (33.9%) 0.00 247
2019-06-01 $204,900 (8.1%) $331,416 (0.5%) 0.00 271
2019-07-01 $189,800 (0.3%) $318,621 (-0.8%) 0.00 300
2019-08-01 $185,579 (1.5%) $294,607 (-6.3%) 0.00 303
2019-09-01 $186,449 (4.5%) $263,363 (-15.4%) 0.00 301
2019-10-01 $185,916 (2.6%) $238,064 (-22.3%) 0.00 302
2019-11-01 $179,900 (0.0%) $237,318 (-21.7%) 0.00 294
2019-12-01 $184,900 (2.8%) $239,327 (-24.0%) 0.00 274
2020-01-01 $179,900 (0.2%) $236,664 (-26.2%) 0.00 255
2020-02-01 $184,900 (3.5%) $314,462 (-1.9%) 0.00 234
2020-03-01 $175,925 (-8.9%) $311,280 (-6.1%) 0.00 223
2020-04-01 $173,907 (-15.5%) $323,513 (-6.1%) 0.00 208
2020-05-01 $189,900 (-9.7%) $368,430 (9.4%) 0.00 147
2020-06-01 $217,024 (2.3%) $391,970 (18.3%) 0.00 132
2020-07-01 $199,950 (7.3%) $385,588 (21.0%) 0.00 135
2020-08-01 $194,000 (1.8%) $364,222 (23.6%) 0.00 154
2020-09-01 $187,250 (-0.6%) $353,295 (34.2%) 0.00 164
2020-10-01 $190,000 (1.5%) $357,351 (50.1%) 0.00 161
2020-11-01 $193,100 (6.7%) $360,446 (51.9%) 0.00 157
2020-12-01 $191,800 (3.1%) $360,676 (50.7%) 0.00 145
2021-01-01 $193,700 (7.7%) $247,420 (4.6%) 0.00 141
2021-02-01 $194,200 (4.3%) $264,390 (-15.9%) 0.00 111
2021-03-01 $189,825 (7.1%) $251,902 (-19.1%) 0.00 108
2021-04-01 $176,200 (0.4%) $245,750 (-24.0%) 0.00 119
2021-05-01 $199,900 (5.5%) $302,207 (-18.0%) 0.00 101
2021-06-01 $204,150 (0.4%) $285,994 (-27.0%) 0.00 110
2021-07-01 $189,950 (-4.6%) $269,326 (-30.2%) 0.00 126
2021-08-01 $199,900 (5.5%) $263,068 (-27.8%) 0.00 133
2021-09-01 $199,750 (8.4%) $266,483 (-24.6%) 0.00 144
2021-10-01 $196,950 (4.8%) $272,272 (-23.8%) 0.00 129
2021-11-01 $174,400 (-9.8%) $281,177 (-22.0%) 0.00 123
2021-12-01 $194,200 (3.2%) $276,533 (-23.3%) 0.00 126
2022-01-01 $187,200 (-2.2%) $269,128 (8.8%) 0.00 108
2022-02-01 $178,175 (-8.2%) $260,296 (-1.6%) 0.00 97
2022-03-01 $189,900 (5.3%) $266,396 (5.8%) 0.00 95
2022-04-01 $202,450 (18.2%) $280,646 (14.2%) 0.00 90
2022-05-01 $240,950 (21.3%) $299,297 (-1.0%) 0.00 122
2022-06-01 $246,200 (19.9%) $295,553 (3.3%) 0.00 150
2022-07-01 $261,200 (36.9%) $304,179 (12.9%) 0.00 170
2022-08-01 $262,266 (29.8%) $309,677 (17.7%) 0.00 168
2022-09-01 $247,175 (20.3%) $299,050 (12.2%) 0.00 182
2022-10-01 $234,900 (18.0%) $295,777 (8.6%) 0.00 185
2022-11-01 $234,900 (35.7%) $296,523 (5.5%) 0.00 219
2022-12-01 $237,700 (20.8%) $353,500 (27.8%) 0.00 227
2023-01-01 $256,500 (34.3%) $358,007 (33.0%) 0.00 210
2023-02-01 $259,800 (43.0%) $368,919 (41.7%) 0.00 193
2023-03-01 $265,150 (30.4%) $394,785 (48.2%) 0.00 164
2023-04-01 $275,000 (30.8%) $418,273 (49.0%) 0.00 149
2023-05-01 $277,400 (12.6%) $417,361 (39.5%) 0.00 149
2023-06-01 $274,950 (11.7%) $334,261 (13.1%) 0.00 168
2023-07-01 $264,900 (3.5%) $318,557 (4.7%) 0.00 172
2023-08-01 $260,875 (1.6%) $311,924 (0.7%) 0.00 184
2023-09-01 $259,900 (6.7%) $308,848 (3.3%) 0.00 195
2023-10-01 $259,650 (11.7%) $304,752 (3.0%) 0.00 216
2023-11-01 $262,625 (13.3%) $295,487 (-0.4%) 0.00 223
2023-12-01 $250,000 (0.0%) $294,401 (-16.7%) 0.00 216
Owensboro's median listing price for 2023-12-01 was $250,000, a difference of $12,300 (0.0%) versus the prior year and $-12,625 versus the prior month.

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

Owensboro's average listing price for 2023-12-01 was $294,401, a difference of $-59,099 (-16.7%) versus the prior year and $-1,086 versus the prior month.

For the 2023-12-01 period, Owensboro had 216 MLS listings, a difference of -7 listings (-3%) versus the prior month and -11 listings (-5%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Owensboro (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,895 sqft
2018-02-01 0 days 1,878 sqft
2018-03-01 0 days 1,856 sqft
2018-04-01 0 days 1,913 sqft
2018-05-01 0 days 1,934 sqft
2018-06-01 0 days 1,952 sqft
2018-07-01 0 days 1,942 sqft
2018-08-01 0 days 1,961 sqft
2018-09-01 0 days 1,965 sqft
2018-10-01 0 days 1,937 sqft
2018-11-01 0 days 1,939 sqft
2018-12-01 0 days 1,951 sqft
2019-01-01 0 days 1,884 sqft
2019-02-01 0 days 1,893 sqft
2019-03-01 0 days 2,025 sqft
2019-04-01 0 days 2,158 sqft
2019-05-01 0 days 2,087 sqft
2019-06-01 0 days 2,095 sqft
2019-07-01 0 days 1,995 sqft
2019-08-01 0 days 1,919 sqft
2019-09-01 0 days 1,837 sqft
2019-10-01 0 days 1,776 sqft
2019-11-01 0 days 1,719 sqft
2019-12-01 0 days 1,713 sqft
2020-01-01 0 days 1,704 sqft
2020-02-01 0 days 1,827 sqft
2020-03-01 0 days 1,677 sqft
2020-04-01 0 days 1,678 sqft
2020-05-01 0 days 1,832 sqft
2020-06-01 0 days 1,859 sqft
2020-07-01 0 days 1,941 sqft
2020-08-01 0 days 1,768 sqft
2020-09-01 0 days 1,752 sqft
2020-10-01 0 days 1,772 sqft
2020-11-01 0 days 1,776 sqft
2020-12-01 0 days 1,767 sqft
2021-01-01 0 days 1,741 sqft
2021-02-01 0 days 1,794 sqft
2021-03-01 0 days 1,729 sqft
2021-04-01 0 days 1,659 sqft
2021-05-01 0 days 1,680 sqft
2021-06-01 0 days 1,668 sqft
2021-07-01 0 days 1,595 sqft
2021-08-01 0 days 1,642 sqft
2021-09-01 0 days 1,658 sqft
2021-10-01 0 days 1,619 sqft
2021-11-01 0 days 1,553 sqft
2021-12-01 0 days 1,533 sqft
2022-01-01 0 days 1,513 sqft
2022-02-01 0 days 1,554 sqft
2022-03-01 0 days 1,582 sqft
2022-04-01 0 days 1,724 sqft
2022-05-01 0 days 1,798 sqft
2022-06-01 0 days 1,810 sqft
2022-07-01 0 days 1,886 sqft
2022-08-01 0 days 1,901 sqft
2022-09-01 0 days 1,722 sqft
2022-10-01 0 days 1,672 sqft
2022-11-01 0 days 1,686 sqft
2022-12-01 0 days 1,699 sqft
2023-01-01 0 days 1,750 sqft
2023-02-01 0 days 1,800 sqft
2023-03-01 0 days 1,858 sqft
2023-04-01 0 days 1,799 sqft
2023-05-01 0 days 1,801 sqft
2023-06-01 0 days 1,832 sqft
2023-07-01 0 days 1,799 sqft
2023-08-01 0 days 1,743 sqft
2023-09-01 0 days 1,772 sqft
2023-10-01 0 days 1,803 sqft
2023-11-01 0 days 1,715 sqft
2023-12-01 0 days 1,706 sqft
Owensboro's median listing age (time on market) for 2023-12-01 was 0 days.

Owensboro's median square footage for active listings during the 2023-12-01 period was 1,706 sqft. One year prior, the average listing was 1,699 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.