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 28 lenders originated 107 VA loans during 2023. The total origination value was $26,665,000, with an average VA loan value of $249,206.

Owensboro VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Owensboro averaged 6.78% for the week of 2024-03-22, compared to the national average (all VA variants) of 6.539% for the same period.

Owensboro's average VA mortgage closing costs are $4,893.

The average rate for the prior week (2024-03-15) was 6.59% and one month ago for the week of 2024-02-16, the average rate was 6.71%.

The average rate one year ago was 6.15%.

For refis of the same type during the week of 2024-03-22, the average rate was 7.39%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 27 6.73% $6,252
EVANSVILLE TEACHERS 11 6.59% $7,595
FBC MORTGAGE, LLC 8 5.25% $7,637
QUICKEN LOANS, LLC 7 6.21% $12,141
USAA Federal Savings Bank 6 6.04% $9,776
NEW DAY FINANCIAL, LLC 6 7.46% $8,410
NAVY FEDERAL CREDIT UNION 5 5.43% $6,731
UNITED WHOLESALE MORTGAGE, LLC 5 6.92% $2,780
U.S. Bank 4 6.62% $5,279
PENNYMAC LOAN SERVICES, LLC 4 5.84% $7,948
CHURCHILL MORTGAGE CORPORATION 3 6.29% $6,796
FREEDOM MORTGAGE CORPORATION 3 6.75% $18,541
STOCKTON MORTGAGE CORPORATION 1 8.13% $2,764
TOP FLITE FINANCIAL, INC. 1 7.00% $6,129
VILLAGE CAPITAL MORTGAGE 1 5.50% $4,699
Barrington Bank & Trust Company, N.A. 1 7.50% $13,678
Wells Fargo Bank 1 5.63% $4,069
EQUITY RESOURCES, INC. 1 6.25% $5,097
Fifth Third Bank 1 5.88% $2,056
First Federal Bank 1 6.50% $3,599
FIRST MORTGAGE COMPANY, INC. 1 7.49% $9,457
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.25% $6,680
HOMESIDE FINANCIAL, LLC 1 7.25% $787
JPMorgan Chase Bank 1 7.25% $3,222
Magnolia Bank 1 6.13% $3,371
MORTGAGE MASTERS OF INDIANA, INC. 1 6.13% $4,138
MOVEMENT MORTGAGE, LLC 1 6.00% $1,047
Old National Bank 1 6.25% $2,936

The top Owensboro VA lender as defined by loan originations is Mortgage Research Center, LLC, with 27 VA loans originated. Their average total fees are $6,252, which is $1,342 lower than the next largest lender, EVANSVILLE TEACHERS.

The lowest fee Owensboro VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,252), EVANSVILLE TEACHERS ($7,595), .

The lowest rate Owensboro VA lenders (with over 10 loans originated) are EVANSVILLE TEACHERS (6.59%), Mortgage Research Center, LLC (6.73%), .


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 $176,647 (10.8%) $249,354 (24.7%) 0.00 288
2018-02-01 $176,981 (7.3%) $252,789 (27.8%) 0.00 281
2018-03-01 $174,900 (2.9%) $244,957 (22.0%) 0.00 273
2018-04-01 $178,450 (0.9%) $248,989 (17.6%) 0.00 280
2018-05-01 $178,611 (-2.1%) $252,062 (8.3%) 0.00 281
2018-06-01 $184,900 (6.9%) $323,747 (40.0%) 0.00 301
2018-07-01 $184,900 (7.2%) $315,937 (30.3%) 0.00 326
2018-08-01 $183,400 (0.7%) $308,756 (25.2%) 0.00 346
2018-09-01 $179,950 (5.9%) $305,363 (27.6%) 0.00 347
2018-10-01 $182,400 (9.0%) $301,713 (25.2%) 0.00 358
2018-11-01 $179,900 (9.1%) $298,575 (25.9%) 0.00 357
2018-12-01 $179,900 (9.1%) $306,610 (29.2%) 0.00 318
2019-01-01 $179,560 (1.7%) $311,862 (25.1%) 0.00 302
2019-02-01 $179,911 (1.7%) $310,220 (22.7%) 0.00 290
2019-03-01 $194,543 (11.2%) $321,970 (31.4%) 0.00 272
2019-04-01 $208,700 (17.0%) $336,297 (35.1%) 0.00 262
2019-05-01 $209,725 (17.4%) $327,032 (29.7%) 0.00 262
2019-06-01 $199,900 (8.1%) $321,147 (-0.8%) 0.00 288
2019-07-01 $185,450 (0.3%) $311,611 (-1.4%) 0.00 318
2019-08-01 $186,191 (1.5%) $289,506 (-6.2%) 0.00 323
2019-09-01 $188,052 (4.5%) $260,826 (-14.6%) 0.00 319
2019-10-01 $187,043 (2.6%) $237,863 (-21.2%) 0.00 319
2019-11-01 $179,900 (0.0%) $234,987 (-21.3%) 0.00 312
2019-12-01 $184,900 (2.8%) $237,181 (-22.6%) 0.00 285
2020-01-01 $179,900 (0.2%) $235,181 (-24.6%) 0.00 261
2020-02-01 $186,125 (3.5%) $311,998 (0.6%) 0.00 240
2020-03-01 $177,300 (-8.9%) $307,151 (-4.6%) 0.00 231
2020-04-01 $176,450 (-15.5%) $320,182 (-4.8%) 0.00 215
2020-05-01 $189,453 (-9.7%) $360,468 (10.2%) 0.00 154
2020-06-01 $204,524 (2.3%) $381,550 (18.8%) 0.00 139
2020-07-01 $198,975 (7.3%) $375,026 (20.4%) 0.00 144
2020-08-01 $189,500 (1.8%) $357,732 (23.6%) 0.00 161
2020-09-01 $186,953 (-0.6%) $346,784 (33.0%) 0.00 171
2020-10-01 $189,900 (1.5%) $349,454 (46.9%) 0.00 168
2020-11-01 $191,900 (6.7%) $355,545 (51.3%) 0.00 161
2020-12-01 $190,550 (3.1%) $357,838 (50.9%) 0.00 148
2021-01-01 $193,700 (7.7%) $245,967 (4.6%) 0.00 144
2021-02-01 $194,200 (4.3%) $261,590 (-16.2%) 0.00 116
2021-03-01 $189,800 (7.1%) $252,412 (-17.8%) 0.00 109
2021-04-01 $177,200 (0.4%) $246,955 (-22.9%) 0.00 119
2021-05-01 $199,900 (5.5%) $300,932 (-16.5%) 0.00 104
2021-06-01 $205,400 (0.4%) $285,759 (-25.1%) 0.00 112
2021-07-01 $189,900 (-4.6%) $269,648 (-28.1%) 0.00 130
2021-08-01 $199,925 (5.5%) $262,782 (-26.5%) 0.00 140
2021-09-01 $202,650 (8.4%) $266,914 (-23.0%) 0.00 152
2021-10-01 $199,000 (4.8%) $271,695 (-22.3%) 0.00 136
2021-11-01 $173,150 (-9.8%) $278,097 (-21.8%) 0.00 128
2021-12-01 $196,700 (3.2%) $273,001 (-23.7%) 0.00 130
2022-01-01 $189,500 (-2.2%) $266,264 (8.3%) 0.00 112
2022-02-01 $178,200 (-8.2%) $257,300 (-1.6%) 0.00 102
2022-03-01 $199,900 (5.3%) $263,249 (4.3%) 0.00 102
2022-04-01 $209,500 (18.2%) $277,311 (12.3%) 0.00 97
2022-05-01 $242,400 (21.3%) $294,812 (-2.0%) 0.00 128
2022-06-01 $246,175 (19.9%) $292,614 (2.4%) 0.00 154
2022-07-01 $259,900 (36.9%) $305,176 (13.2%) 0.00 177
2022-08-01 $257,049 (28.6%) $309,211 (17.7%) 0.00 180
2022-09-01 $242,500 (19.7%) $298,823 (12.0%) 0.00 196
2022-10-01 $234,900 (18.0%) $298,299 (9.8%) 0.00 201
2022-11-01 $234,900 (35.7%) $298,987 (7.5%) 0.00 237
2022-12-01 $237,700 (20.8%) $349,135 (27.9%) 0.00 242
2023-01-01 $254,550 (34.3%) $353,703 (32.8%) 0.00 231
2023-02-01 $254,725 (42.9%) $358,280 (39.3%) 0.00 213
2023-03-01 $260,350 (30.2%) $380,004 (44.4%) 0.00 180
2023-04-01 $274,000 (30.8%) $405,666 (46.3%) 0.00 161
2023-05-01 $272,875 (12.6%) $404,964 (37.4%) 0.00 161
2023-06-01 $274,950 (11.7%) $330,794 (13.1%) 0.00 177
2023-07-01 $269,000 (3.5%) $320,568 (5.0%) 0.00 183
2023-08-01 $263,825 (2.6%) $311,867 (0.9%) 0.00 196
2023-09-01 $260,000 (7.2%) $307,473 (2.9%) 0.00 211
2023-10-01 $262,400 (11.7%) $303,982 (1.9%) 0.00 231
2023-11-01 $266,150 (13.3%) $296,060 (-1.0%) 0.00 237
2023-12-01 $250,000 (5.2%) $291,919 (-16.4%) 0.00 234
2024-01-01 $269,800 (6.0%) $360,495 (1.9%) 0.00 199
2024-02-01 $277,350 (8.9%) $382,661 (6.8%) 0.00 195
Owensboro's median listing price for 2024-02-01 was $277,350, a difference of $22,625 (8.9%) versus the prior year and $7,550 versus the prior month.

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

Owensboro's average listing price for 2024-02-01 was $382,661, a difference of $24,381 (6.8%) versus the prior year and $22,166 versus the prior month.

For the 2024-02-01 period, Owensboro had 195 MLS listings, a difference of -4 listings (-2%) versus the prior month and -18 listings (-8%) 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 1,909 sqft
2018-02-01 0 days 1,894 sqft
2018-03-01 0 days 1,875 sqft
2018-04-01 0 days 1,933 sqft
2018-05-01 0 days 1,961 sqft
2018-06-01 0 days 1,964 sqft
2018-07-01 0 days 1,950 sqft
2018-08-01 0 days 1,962 sqft
2018-09-01 0 days 1,966 sqft
2018-10-01 0 days 1,940 sqft
2018-11-01 0 days 1,940 sqft
2018-12-01 0 days 1,946 sqft
2019-01-01 0 days 1,860 sqft
2019-02-01 0 days 1,898 sqft
2019-03-01 0 days 2,017 sqft
2019-04-01 0 days 2,142 sqft
2019-05-01 0 days 2,032 sqft
2019-06-01 0 days 2,080 sqft
2019-07-01 0 days 1,982 sqft
2019-08-01 0 days 1,925 sqft
2019-09-01 0 days 1,843 sqft
2019-10-01 0 days 1,769 sqft
2019-11-01 0 days 1,704 sqft
2019-12-01 0 days 1,694 sqft
2020-01-01 0 days 1,697 sqft
2020-02-01 0 days 1,835 sqft
2020-03-01 0 days 1,696 sqft
2020-04-01 0 days 1,690 sqft
2020-05-01 0 days 1,814 sqft
2020-06-01 0 days 1,824 sqft
2020-07-01 0 days 1,916 sqft
2020-08-01 0 days 1,764 sqft
2020-09-01 0 days 1,740 sqft
2020-10-01 0 days 1,772 sqft
2020-11-01 0 days 1,776 sqft
2020-12-01 0 days 1,770 sqft
2021-01-01 0 days 1,747 sqft
2021-02-01 0 days 1,777 sqft
2021-03-01 0 days 1,715 sqft
2021-04-01 0 days 1,659 sqft
2021-05-01 0 days 1,698 sqft
2021-06-01 0 days 1,679 sqft
2021-07-01 0 days 1,596 sqft
2021-08-01 0 days 1,659 sqft
2021-09-01 0 days 1,666 sqft
2021-10-01 0 days 1,630 sqft
2021-11-01 0 days 1,599 sqft
2021-12-01 0 days 1,551 sqft
2022-01-01 0 days 1,515 sqft
2022-02-01 0 days 1,555 sqft
2022-03-01 0 days 1,612 sqft
2022-04-01 0 days 1,739 sqft
2022-05-01 0 days 1,814 sqft
2022-06-01 0 days 1,813 sqft
2022-07-01 0 days 1,892 sqft
2022-08-01 0 days 1,899 sqft
2022-09-01 0 days 1,730 sqft
2022-10-01 0 days 1,683 sqft
2022-11-01 0 days 1,699 sqft
2022-12-01 0 days 1,700 sqft
2023-01-01 0 days 1,768 sqft
2023-02-01 0 days 1,798 sqft
2023-03-01 0 days 1,800 sqft
2023-04-01 0 days 1,788 sqft
2023-05-01 0 days 1,800 sqft
2023-06-01 0 days 1,845 sqft
2023-07-01 0 days 1,803 sqft
2023-08-01 0 days 1,783 sqft
2023-09-01 0 days 1,803 sqft
2023-10-01 0 days 1,806 sqft
2023-11-01 0 days 1,723 sqft
2023-12-01 0 days 1,686 sqft
2024-01-01 0 days 1,719 sqft
2024-02-01 0 days 1,799 sqft
Owensboro's median listing age (time on market) for 2024-02-01 was 0 days.

Owensboro's median square footage for active listings during the 2024-02-01 period was 1,799 sqft. One year prior, the average listing was 1,798 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.