Palatka VA Loan Rates, Closing Costs & Stats

Palatka, FL

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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.

    Palatka's 52 lenders originated 153 VA loans during 2022. The total origination value was $39,795,000, with an average VA loan value of $260,098.

    Palatka VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Palatka averaged -0.07% for the week of 2023-11-24, compared to the national average (all VA variants) of 0% for the same period.

    Palatka's average VA mortgage closing costs are $5,455.

    The average rate for the prior week (2023-11-17) was 7.07% and one month ago for the week of 2023-10-20, the average rate was 7.4%.

    The average rate one year ago was 6.32%.

    For refis of the same type during the week of 2023-11-24, the average rate was -0.1%.

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

    Palatka 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 Palatka level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 24 5.22% $6,395
    UNITED WHOLESALE MORTGAGE, LLC 14 4.80% $7,369
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 5.42% $7,305
    QUICKEN LOANS, LLC 7 4.10% $9,740
    NAVY FEDERAL CREDIT UNION 6 3.67% $11,622
    Carrington Mortgage Services, LLC 5 5.43% $6,206
    ACADEMY MORTGAGE CORPORATION 4 5.03% $4,537
    LOANDEPOT.COM, LLC 4 4.87% $7,558
    VYSTAR 3 3.88% $4,082
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 5.38% $5,531
    Ameris Bank 3 3.88% $3,492
    INSPIRE HOME LOANS INC. 3 4.33% $3,469
    Wolfe Financial, Inc 2 5.69% $2,638
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.00% $7,331
    AMERISAVE MORTGAGE CORPORATION 2 4.44% $13,706
    Bank of England 2 5.44% $5,830
    CROSSCOUNTRY MORTGAGE, LLC 2 5.88% $9,073
    Flagstar Bank, FSB 2 4.79% $4,963
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.00% $8,838
    MOVEMENT MORTGAGE, LLC 2 5.50% $6,715
    Mr. Cooper ( Nationstar Mortgage ) 2 5.81% $8,182
    MUTUAL OF OMAHA MORTGAGE, INC. 2 4.25% $2,381
    NEW DAY FINANCIAL, LLC 2 5.62% $11,899
    Paramount Residential Mortgage Group, Inc. 2 6.19% $14,810
    Prosperity Home Mortgage, LLC 2 3.93% $11,110
    USAA Federal Savings Bank 2 5.13% $4,301
    LAKEVIEW LOAN SERVICING, LLC 1 2.99% $8,112
    FINANCE OF AMERICA MORTGAGE LLC 1 4.99% $13,544
    Magnolia Bank 1 3.25% $18,388
    Mortgage Lenders Investment Trading Corporation 1 3.88% $3,902
    Equity Prime Mortgage LLC 1 6.25% $7,616
    CARDINAL FINANCIAL 1 5.75% $7,179
    1ST SIGNATURE LENDING, LLC 1 4.00% $2,877
    VILLAGE CAPITAL MORTGAGE 1 3.88% $14,276
    Nations Lending Corporation 1 5.75% $10,724
    CMG MORTGAGE, INC. 1 6.75% $11,543
    Barrington Bank & Trust Company, N.A. 1 4.13% $7,103
    Watermark Capital, Inc. 1 2.25% $9,543
    PENNYMAC LOAN SERVICES, LLC 1 4.50% $7,026
    WATSON MORTGAGE CORP. 1 4.25% $5,542
    Century Mortgage Company DBA Century Lending Company 1 5.88% $10,660
    Summit Mortgage Corporation 1 4.25% $14,618
    SWBC MORTGAGE CORPORATION 1 6.25% $9,436
    FIRST MORTGAGE COMPANY, INC. 1 3.25% $8,235
    The Federal Savings Bank 1 5.25% $4,555
    FREEDOM MORTGAGE CORPORATION 1 2.75% $10,165
    TJC Mortgage, Inc. 1 3.13% $7,891
    HOME POINT FINANCIAL CORPORATION 1 2.88% $11,011
    HOMESPIRE MORTGAGE CORPORATION 1 5.75% $205
    Hometown Equity Mortgage, LLC 1 3.75% $17,746
    First Federal Bank 1 6.00% $7,398
    LADERA LENDING, INC. 1 5.13% $14,142

    The top Palatka VA lender as defined by loan originations is Mortgage Research Center, LLC, with 24 VA loans originated. Their average total fees are $6,395, which is $974 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Palatka VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,395), UNITED WHOLESALE MORTGAGE, LLC ($7,369), .

    The lowest rate Palatka VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (4.80%), Mortgage Research Center, LLC (5.22%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Palatka (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 $214,725 (44.4%) $279,204 (35.3%) 0.00 292
    2018-02-01 $223,550 (52.2%) $279,259 (32.1%) 0.00 287
    2018-03-01 $220,000 (44.6%) $269,247 (24.4%) 0.00 303
    2018-04-01 $219,950 (38.3%) $275,178 (25.6%) 0.00 305
    2018-05-01 $227,850 (35.2%) $281,312 (24.4%) 0.00 285
    2018-06-01 $225,000 (31.7%) $279,969 (21.5%) 0.00 278
    2018-07-01 $226,950 (26.2%) $277,271 (14.1%) 0.00 268
    2018-08-01 $225,975 (20.6%) $273,188 (10.3%) 0.00 258
    2018-09-01 $210,000 (5.4%) $261,428 (3.8%) 0.00 269
    2018-10-01 $201,188 (1.1%) $253,189 (1.0%) 0.00 278
    2018-11-01 $199,445 (-0.3%) $246,054 (-4.9%) 0.00 286
    2018-12-01 $199,000 (-0.5%) $247,145 (-5.0%) 0.00 279
    2019-01-01 $196,950 (-8.3%) $266,350 (-4.6%) 0.00 269
    2019-02-01 $210,950 (-5.6%) $271,835 (-2.7%) 0.00 271
    2019-03-01 $218,800 (-0.6%) $278,509 (3.4%) 0.00 271
    2019-04-01 $223,350 (1.6%) $286,266 (4.0%) 0.00 270
    2019-05-01 $226,500 (-0.6%) $296,867 (5.5%) 0.00 260
    2019-06-01 $224,900 (0.0%) $267,615 (-4.4%) 0.00 254
    2019-07-01 $220,000 (-3.1%) $265,526 (-4.2%) 0.00 277
    2019-08-01 $214,532 (-5.1%) $262,337 (-4.0%) 0.00 283
    2019-09-01 $206,329 (-1.8%) $257,358 (-1.6%) 0.00 287
    2019-10-01 $199,950 (-0.6%) $254,326 (0.5%) 0.00 287
    2019-11-01 $200,000 (0.3%) $256,357 (4.2%) 0.00 263
    2019-12-01 $219,725 (10.4%) $259,659 (5.1%) 0.00 269
    2020-01-01 $219,825 (11.6%) $289,774 (8.8%) 0.00 275
    2020-02-01 $214,950 (1.9%) $298,673 (9.9%) 0.00 283
    2020-03-01 $209,975 (-4.0%) $304,137 (9.2%) 0.00 250
    2020-04-01 $221,250 (-0.9%) $312,025 (9.0%) 0.00 229
    2020-05-01 $222,000 (-2.0%) $334,249 (12.6%) 0.00 199
    2020-06-01 $218,450 (-2.9%) $346,092 (29.3%) 0.00 178
    2020-07-01 $229,000 (4.1%) $327,489 (23.3%) 0.00 191
    2020-08-01 $227,000 (5.8%) $310,979 (18.5%) 0.00 184
    2020-09-01 $229,000 (11.0%) $297,285 (15.5%) 0.00 169
    2020-10-01 $219,000 (9.5%) $268,006 (5.4%) 0.00 176
    2020-11-01 $229,000 (14.5%) $305,142 (19.0%) 0.00 154
    2020-12-01 $229,000 (4.2%) $306,434 (18.0%) 0.00 155
    2021-01-01 $219,900 (0.0%) $300,733 (3.8%) 0.00 141
    2021-02-01 $228,000 (6.1%) $303,054 (1.5%) 0.00 141
    2021-03-01 $229,000 (9.1%) $320,336 (5.3%) 0.00 138
    2021-04-01 $225,750 (2.0%) $347,575 (11.4%) 0.00 106
    2021-05-01 $236,998 (6.8%) $333,087 (-0.4%) 0.00 107
    2021-06-01 $216,248 (-1.0%) $328,552 (-5.1%) 0.00 130
    2021-07-01 $215,995 (-5.7%) $322,850 (-1.4%) 0.00 147
    2021-08-01 $217,673 (-4.1%) $323,951 (4.2%) 0.00 151
    2021-09-01 $226,218 (-1.2%) $313,230 (5.4%) 0.00 149
    2021-10-01 $245,000 (11.9%) $381,067 (42.2%) 0.00 153
    2021-11-01 $265,000 (15.7%) $407,070 (33.4%) 0.00 161
    2021-12-01 $274,500 (19.9%) $410,352 (33.9%) 0.00 156
    2022-01-01 $265,000 (20.5%) $423,101 (40.7%) 0.00 136
    2022-02-01 $282,400 (23.9%) $503,126 (66.0%) 0.00 114
    2022-03-01 $285,925 (24.9%) $517,720 (61.6%) 0.00 109
    2022-04-01 $275,000 (21.8%) $512,636 (47.5%) 0.00 124
    2022-05-01 $271,200 (14.4%) $485,898 (45.9%) 0.00 141
    2022-06-01 $319,900 (47.9%) $561,860 (71.0%) 0.00 156
    2022-07-01 $299,900 (38.9%) $455,937 (41.2%) 0.00 180
    2022-08-01 $302,200 (38.8%) $444,067 (37.1%) 0.00 195
    2022-09-01 $299,500 (32.4%) $452,546 (44.5%) 0.00 206
    2022-10-01 $300,990 (22.9%) $483,630 (26.9%) 0.00 211
    2022-11-01 $317,500 (19.8%) $501,669 (23.2%) 0.00 214
    2022-12-01 $294,900 (7.4%) $428,442 (4.4%) 0.00 228
    2023-01-01 $294,900 (11.3%) $423,424 (0.1%) 0.00 221
    2023-02-01 $294,900 (4.4%) $420,361 (-16.5%) 0.00 205
    2023-03-01 $295,675 (3.4%) $413,523 (-20.1%) 0.00 193
    2023-04-01 $298,500 (8.6%) $416,355 (-18.8%) 0.00 213
    2023-05-01 $310,775 (14.6%) $417,306 (-14.1%) 0.00 174
    2023-06-01 $303,750 (-5.1%) $412,255 (-26.6%) 0.00 179
    2023-07-01 $299,900 (0.0%) $453,229 (-0.6%) 0.00 192
    2023-08-01 $298,050 (-1.4%) $426,981 (-3.9%) 0.00 205
    2023-09-01 $299,900 (0.1%) $443,858 (-1.9%) 0.00 209
    2023-10-01 $309,900 (3.0%) $452,080 (-6.5%) 0.00 204
    Palatka's median listing price for 2023-10-01 was $309,900, a difference of $8,910 (3.0%) versus the prior year and $10,000 versus the prior month.

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

    Palatka's average listing price for 2023-10-01 was $452,080, a difference of $-31,550 (-6.5%) versus the prior year and $8,222 versus the prior month.

    For the 2023-10-01 period, Palatka had 204 MLS listings, a difference of -5 listings (-2%) versus the prior month and -7 listings (-3%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Palatka (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,621 sqft
    2018-02-01 0 days 1,674 sqft
    2018-03-01 0 days 1,752 sqft
    2018-04-01 0 days 1,751 sqft
    2018-05-01 0 days 1,801 sqft
    2018-06-01 0 days 1,801 sqft
    2018-07-01 0 days 1,800 sqft
    2018-08-01 0 days 1,802 sqft
    2018-09-01 0 days 1,792 sqft
    2018-10-01 0 days 1,768 sqft
    2018-11-01 0 days 1,722 sqft
    2018-12-01 0 days 1,696 sqft
    2019-01-01 0 days 1,685 sqft
    2019-02-01 0 days 1,716 sqft
    2019-03-01 0 days 1,764 sqft
    2019-04-01 0 days 1,796 sqft
    2019-05-01 0 days 1,800 sqft
    2019-06-01 0 days 1,742 sqft
    2019-07-01 0 days 1,741 sqft
    2019-08-01 0 days 1,719 sqft
    2019-09-01 0 days 1,696 sqft
    2019-10-01 0 days 1,675 sqft
    2019-11-01 0 days 1,676 sqft
    2019-12-01 0 days 1,695 sqft
    2020-01-01 0 days 1,713 sqft
    2020-02-01 0 days 1,728 sqft
    2020-03-01 0 days 1,693 sqft
    2020-04-01 0 days 1,725 sqft
    2020-05-01 0 days 1,674 sqft
    2020-06-01 0 days 1,668 sqft
    2020-07-01 0 days 1,864 sqft
    2020-08-01 0 days 1,760 sqft
    2020-09-01 0 days 1,800 sqft
    2020-10-01 0 days 1,721 sqft
    2020-11-01 0 days 1,679 sqft
    2020-12-01 0 days 1,789 sqft
    2021-01-01 0 days 1,721 sqft
    2021-02-01 0 days 1,794 sqft
    2021-03-01 0 days 1,759 sqft
    2021-04-01 0 days 1,648 sqft
    2021-05-01 0 days 1,600 sqft
    2021-06-01 0 days 1,470 sqft
    2021-07-01 0 days 1,434 sqft
    2021-08-01 0 days 1,498 sqft
    2021-09-01 0 days 1,512 sqft
    2021-10-01 0 days 1,568 sqft
    2021-11-01 0 days 1,576 sqft
    2021-12-01 0 days 1,620 sqft
    2022-01-01 0 days 1,709 sqft
    2022-02-01 0 days 1,701 sqft
    2022-03-01 0 days 1,744 sqft
    2022-04-01 0 days 1,547 sqft
    2022-05-01 0 days 1,531 sqft
    2022-06-01 0 days 1,688 sqft
    2022-07-01 0 days 1,657 sqft
    2022-08-01 0 days 1,663 sqft
    2022-09-01 0 days 1,619 sqft
    2022-10-01 0 days 1,650 sqft
    2022-11-01 0 days 1,625 sqft
    2022-12-01 0 days 1,545 sqft
    2023-01-01 0 days 1,545 sqft
    2023-02-01 0 days 1,545 sqft
    2023-03-01 0 days 1,545 sqft
    2023-04-01 0 days 1,545 sqft
    2023-05-01 0 days 1,543 sqft
    2023-06-01 0 days 1,515 sqft
    2023-07-01 0 days 1,539 sqft
    2023-08-01 0 days 1,500 sqft
    2023-09-01 0 days 1,520 sqft
    2023-10-01 0 days 1,499 sqft
    Palatka's median listing age (time on market) for 2023-10-01 was 0 days.

    Palatka's median square footage for active listings during the 2023-10-01 period was 1,499 sqft. One year prior, the average listing was 1,650 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.