Paducah VA Loan Rates, Closing Costs & Stats

Paducah, KY-IL

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.

Paducah's 36 lenders originated 139 VA loans during 2022. The total origination value was $30,185,000, with an average VA loan value of $217,158.

Paducah VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Paducah averaged 6.23% for the week of 2024-03-01, compared to the national average (all VA variants) of 6.517% for the same period.

Paducah's average VA mortgage closing costs are $4,526.

The average rate for the prior week (2024-02-23) was 6.25% and one month ago for the week of 2024-01-26, the average rate was 6.08%.

The average rate one year ago was 6.32%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.9%.

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

Paducah 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 Paducah level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 30 5.28% $4,712
EVERETT FINANCIAL, INC. 13 5.51% $4,587
USAA Federal Savings Bank 10 4.61% $8,272
QUICKEN LOANS, LLC 10 4.22% $7,143
UNITED WHOLESALE MORTGAGE, LLC 7 3.30% $5,929
NAVY FEDERAL CREDIT UNION 5 4.03% $3,978
FREEDOM MORTGAGE CORPORATION 5 4.55% $10,240
LOANDEPOT.COM, LLC 4 3.53% $5,130
Regions Bank 4 4.56% $9,156
GERSHMAN INVESTMENT CORP. 3 5.38% $2,149
PENNYMAC LOAN SERVICES, LLC 3 3.17% $5,587
BROKER SOLUTIONS, INC. 3 5.21% $9,141
U.S. Bank 3 4.58% $5,148
Mr. Cooper ( Nationstar Mortgage ) 2 3.50% $8,814
TOP FLITE FINANCIAL, INC. 2 3.63% $1,820
Barrington Bank & Trust Company, N.A. 2 4.31% $5,222
TOWNE MORTGAGE COMPANY 2 3.37% $12,764
Citizens Bank 2 5.31% $3,566
VAN DYK MORTGAGE CORPORATION 2 4.25% $6,131
VILLAGE CAPITAL MORTGAGE 2 5.25% $4,470
LAKEVIEW LOAN SERVICING, LLC 2 4.69% $8,838
Wells Fargo Bank 1 4.13% $2,906
AMERICAN FINANCING CORPORATION 1 3.00% $2,850
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.13% $2,533
Bank of England 1 3.25% $3,406
CapStar Bank 1 5.00% $9,887
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.63% $6,056
FAIR WAY LENDING LLC 1 4.25% $550
GUARANTEED RATE, INC. 1 4.65% $3,930
HOME POINT FINANCIAL CORPORATION 1 4.75% $6,697
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.75% $464
NEW DAY FINANCIAL, LLC 1 4.25% $10,169
Paramount Bank 1 4.00% $8,097
SOVEREIGN LENDING GROUP INCORPORATED 1 3.75% $2,916
The Federal Savings Bank 1 5.50% $7,078
AMERICAN FINANCIAL RESOURCES, INC. 1 5.50% $7,944

The top Paducah VA lender as defined by loan originations is Mortgage Research Center, LLC, with 30 VA loans originated. Their average total fees are $4,712, which is $125 higher than the next largest lender, EVERETT FINANCIAL, INC..

The lowest fee Paducah VA lenders (with over 10 loans originated) are EVERETT FINANCIAL, INC. ($4,587), Mortgage Research Center, LLC ($4,712), QUICKEN LOANS, LLC ($7,143), USAA Federal Savings Bank ($8,272) and .

The lowest rate Paducah VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.22%), USAA Federal Savings Bank (4.61%), Mortgage Research Center, LLC (5.28%), EVERETT FINANCIAL, INC. (5.51%) and .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Paducah (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 $139,075 (-0.6%) $174,726 (-7.4%) 0.00 559
2018-02-01 $137,400 (-1.8%) $172,011 (-9.1%) 0.00 552
2018-03-01 $149,000 (5.0%) $177,370 (-7.5%) 0.00 572
2018-04-01 $145,700 (-2.2%) $180,997 (-7.6%) 0.00 582
2018-05-01 $149,900 (0.1%) $186,747 (-5.6%) 0.00 609
2018-06-01 $145,000 (-3.3%) $187,946 (-3.1%) 0.00 619
2018-07-01 $139,900 (-7.3%) $181,926 (-6.6%) 0.00 637
2018-08-01 $138,475 (-7.6%) $179,265 (-6.1%) 0.00 616
2018-09-01 $135,000 (-8.5%) $179,000 (-4.2%) 0.00 601
2018-10-01 $137,975 (-8.0%) $183,246 (-2.5%) 0.00 578
2018-11-01 $139,450 (-0.3%) $183,514 (1.6%) 0.00 565
2018-12-01 $144,900 (3.6%) $191,992 (7.8%) 0.00 522
2019-01-01 $144,925 (4.2%) $193,506 (10.8%) 0.00 506
2019-02-01 $144,950 (5.5%) $196,582 (14.3%) 0.00 522
2019-03-01 $144,929 (-2.7%) $197,148 (11.2%) 0.00 549
2019-04-01 $142,450 (-2.2%) $195,570 (8.1%) 0.00 557
2019-05-01 $145,000 (-3.3%) $201,464 (7.9%) 0.00 553
2019-06-01 $144,900 (-0.1%) $203,144 (8.1%) 0.00 573
2019-07-01 $144,900 (3.6%) $203,214 (11.7%) 0.00 574
2019-08-01 $147,791 (6.7%) $207,439 (15.7%) 0.00 566
2019-09-01 $148,977 (10.4%) $209,185 (16.9%) 0.00 552
2019-10-01 $149,900 (8.6%) $210,367 (14.8%) 0.00 542
2019-11-01 $152,000 (9.0%) $213,373 (16.3%) 0.00 520
2019-12-01 $154,900 (6.9%) $217,170 (13.1%) 0.00 479
2020-01-01 $144,825 (-0.1%) $211,855 (9.5%) 0.00 446
2020-02-01 $139,900 (-3.5%) $216,302 (10.0%) 0.00 370
2020-03-01 $149,900 (3.4%) $227,890 (15.6%) 0.00 371
2020-04-01 $149,800 (5.2%) $230,678 (18.0%) 0.00 351
2020-05-01 $149,900 (3.4%) $229,128 (13.7%) 0.00 311
2020-06-01 $163,200 (12.6%) $234,589 (15.5%) 0.00 305
2020-07-01 $169,900 (17.3%) $234,209 (15.3%) 0.00 305
2020-08-01 $164,440 (11.3%) $233,403 (12.5%) 0.00 287
2020-09-01 $146,325 (-1.8%) $220,652 (5.5%) 0.00 273
2020-10-01 $149,900 (0.0%) $215,811 (2.6%) 0.00 276
2020-11-01 $144,900 (-4.7%) $215,335 (0.9%) 0.00 247
2020-12-01 $154,900 (0.0%) $220,234 (1.4%) 0.00 239
2021-01-01 $159,450 (10.1%) $218,848 (3.3%) 0.00 217
2021-02-01 $146,150 (4.5%) $220,066 (1.7%) 0.00 197
2021-03-01 $136,598 (-8.9%) $203,941 (-10.5%) 0.00 166
2021-04-01 $144,700 (-3.4%) $217,685 (-5.6%) 0.00 150
2021-05-01 $149,900 (0.0%) $217,145 (-5.2%) 0.00 150
2021-06-01 $137,700 (-15.6%) $245,225 (4.5%) 0.00 155
2021-07-01 $147,900 (-13.0%) $263,560 (12.5%) 0.00 154
2021-08-01 $154,200 (-6.2%) $267,864 (14.8%) 0.00 147
2021-09-01 $134,246 (-8.3%) $245,732 (11.4%) 0.00 145
2021-10-01 $147,500 (-1.6%) $236,511 (9.6%) 0.00 144
2021-11-01 $147,069 (1.5%) $266,666 (23.8%) 0.00 145
2021-12-01 $127,450 (-17.7%) $210,793 (-4.3%) 0.00 135
2022-01-01 $139,900 (-12.3%) $221,215 (1.1%) 0.00 124
2022-02-01 $139,900 (-4.3%) $220,431 (0.2%) 0.00 119
2022-03-01 $139,800 (2.3%) $261,517 (28.2%) 0.00 141
2022-04-01 $134,695 (-6.9%) $230,980 (6.1%) 0.00 145
2022-05-01 $139,900 (-6.7%) $232,572 (7.1%) 0.00 148
2022-06-01 $143,675 (4.3%) $234,177 (-4.5%) 0.00 158
2022-07-01 $159,500 (7.8%) $249,432 (-5.4%) 0.00 165
2022-08-01 $177,158 (14.9%) $247,205 (-7.7%) 0.00 162
2022-09-01 $189,950 (41.5%) $241,690 (-1.6%) 0.00 167
2022-10-01 $219,950 (49.1%) $257,187 (8.7%) 0.00 164
2022-11-01 $215,175 (46.3%) $268,267 (0.6%) 0.00 160
2022-12-01 $210,000 (64.8%) $268,591 (27.4%) 0.00 160
2023-01-01 $223,163 (59.5%) $269,911 (22.0%) 0.00 135
2023-02-01 $223,188 (59.5%) $270,168 (22.6%) 0.00 134
2023-03-01 $218,425 (56.2%) $270,308 (3.4%) 0.00 135
2023-04-01 $219,900 (63.3%) $285,337 (23.5%) 0.00 130
2023-05-01 $228,675 (63.5%) $293,851 (26.4%) 0.00 132
2023-06-01 $241,175 (67.9%) $299,118 (27.7%) 0.00 147
2023-07-01 $249,900 (56.7%) $294,951 (18.3%) 0.00 163
2023-08-01 $257,200 (45.2%) $303,432 (22.8%) 0.00 167
2023-09-01 $238,500 (25.6%) $294,387 (21.8%) 0.00 175
2023-10-01 $231,675 (5.3%) $295,405 (14.9%) 0.00 177
2023-11-01 $241,000 (12.0%) $316,416 (18.0%) 0.00 177
2023-12-01 $264,900 (26.1%) $307,656 (14.5%) 0.00 167
2024-01-01 $274,950 (23.2%) $306,569 (13.6%) 0.00 160
Paducah's median listing price for 2024-01-01 was $274,950, a difference of $51,787 (23.2%) versus the prior year and $10,050 versus the prior month.

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

Paducah's average listing price for 2024-01-01 was $306,569, a difference of $36,658 (13.6%) versus the prior year and $-1,087 versus the prior month.

For the 2024-01-01 period, Paducah had 160 MLS listings, a difference of -7 listings (-4%) versus the prior month and 25 listings (19%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Paducah (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,777 sqft
2018-02-01 0 days 1,726 sqft
2018-03-01 0 days 1,782 sqft
2018-04-01 0 days 1,808 sqft
2018-05-01 0 days 1,819 sqft
2018-06-01 0 days 1,808 sqft
2018-07-01 0 days 1,803 sqft
2018-08-01 0 days 1,800 sqft
2018-09-01 0 days 1,790 sqft
2018-10-01 0 days 1,769 sqft
2018-11-01 0 days 1,767 sqft
2018-12-01 0 days 1,800 sqft
2019-01-01 0 days 1,800 sqft
2019-02-01 0 days 1,781 sqft
2019-03-01 0 days 1,774 sqft
2019-04-01 0 days 1,740 sqft
2019-05-01 0 days 1,738 sqft
2019-06-01 0 days 1,757 sqft
2019-07-01 0 days 1,726 sqft
2019-08-01 0 days 1,771 sqft
2019-09-01 0 days 1,794 sqft
2019-10-01 0 days 1,811 sqft
2019-11-01 0 days 1,852 sqft
2019-12-01 0 days 1,921 sqft
2020-01-01 0 days 1,813 sqft
2020-02-01 0 days 1,768 sqft
2020-03-01 0 days 1,895 sqft
2020-04-01 0 days 1,894 sqft
2020-05-01 0 days 1,926 sqft
2020-06-01 0 days 1,915 sqft
2020-07-01 0 days 1,952 sqft
2020-08-01 0 days 1,880 sqft
2020-09-01 0 days 1,752 sqft
2020-10-01 0 days 1,728 sqft
2020-11-01 0 days 1,732 sqft
2020-12-01 0 days 1,775 sqft
2021-01-01 0 days 1,800 sqft
2021-02-01 0 days 1,787 sqft
2021-03-01 0 days 1,712 sqft
2021-04-01 0 days 1,788 sqft
2021-05-01 0 days 1,708 sqft
2021-06-01 0 days 1,625 sqft
2021-07-01 0 days 1,696 sqft
2021-08-01 0 days 1,803 sqft
2021-09-01 0 days 1,674 sqft
2021-10-01 0 days 1,667 sqft
2021-11-01 0 days 1,588 sqft
2021-12-01 0 days 1,457 sqft
2022-01-01 0 days 1,500 sqft
2022-02-01 0 days 1,398 sqft
2022-03-01 0 days 1,439 sqft
2022-04-01 0 days 1,480 sqft
2022-05-01 0 days 1,462 sqft
2022-06-01 0 days 1,488 sqft
2022-07-01 0 days 1,603 sqft
2022-08-01 0 days 1,601 sqft
2022-09-01 0 days 1,603 sqft
2022-10-01 0 days 1,727 sqft
2022-11-01 0 days 1,785 sqft
2022-12-01 0 days 1,834 sqft
2023-01-01 0 days 1,821 sqft
2023-02-01 0 days 1,750 sqft
2023-03-01 0 days 1,800 sqft
2023-04-01 0 days 1,762 sqft
2023-05-01 0 days 1,738 sqft
2023-06-01 0 days 1,822 sqft
2023-07-01 0 days 1,835 sqft
2023-08-01 0 days 1,869 sqft
2023-09-01 0 days 1,854 sqft
2023-10-01 0 days 1,859 sqft
2023-11-01 0 days 1,977 sqft
2023-12-01 0 days 1,900 sqft
2024-01-01 0 days 1,957 sqft
Paducah's median listing age (time on market) for 2024-01-01 was 0 days.

Paducah's median square footage for active listings during the 2024-01-01 period was 1,957 sqft. One year prior, the average listing was 1,821 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.