Palatka VA Loan Rates, Closing Costs & Stats

Palatka, 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.

Palatka's 71 lenders originated 237 VA loans during 2021. The total origination value was $50,315,000, with an average VA loan value of $212,300.

Palatka VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Palatka averaged 6.8% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

Palatka's average VA mortgage closing costs are $5,009.

The average rate for the prior week (2022-11-25) was 7.14% and one month ago for the week of 2022-10-28, the average rate was 7.23%.

The average rate one year ago was 3.71%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.37%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 23 2.55% $4,334
Mortgage Research Center, LLC 18 2.84% $7,087
FREEDOM MORTGAGE CORPORATION 13 2.63% $2,339
VILLAGE CAPITAL MORTGAGE 11 2.57% $2,416
UNITED WHOLESALE MORTGAGE, LLC 10 2.58% $3,583
CALIBER HOME LOANS, INC. 10 2.81% $5,399
NEW DAY FINANCIAL, LLC 7 3.05% $10,469
LOANDEPOT.COM, LLC 7 2.98% $3,338
NAVY FEDERAL CREDIT UNION 7 2.25% $4,733
Barrington Bank & Trust Company, N.A. 6 3.00% $2,151
PENNYMAC LOAN SERVICES, LLC 5 2.58% $4,021
Nations Lending Corporation 5 2.93% $5,318
The Federal Savings Bank 4 2.53% $9,085
Carrington Mortgage Services, LLC 4 2.66% $2,102
UNION HOME MORTGAGE CORP. 4 2.72% $5,131
Mr. Cooper ( Nationstar Mortgage ) 4 3.34% $3,947
HAMILTON HOME LOANS, INC. 3 4.00% $4,486
HOMESTAR FINANCIAL CORPORATION 3 3.33% $4,041
LAKEVIEW LOAN SERVICING, LLC 3 2.87% $2,349
USAA Federal Savings Bank 3 3.13% $3,380
BROKER SOLUTIONS, INC. 3 2.92% $3,744
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.06% $3,209
Bank of England 2 2.56% $15,331
CLEARPATH LENDING 2 2.50% $2,744
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 2.94% $8,842
FBC MORTGAGE, LLC 2 3.63% $6,409
First Federal Bank 2 2.94% $8,000
INSPIRE HOME LOANS INC. 2 3.31% $5,193
Lakeview Community Capital, LLC 2 3.06% $1,912
Low VA Rates, LLC 2 2.44% $4,355
Mortgage Lenders Investment Trading Corporation 2 3.75% $6,867
NEWREZ LLC 2 2.69% $2,098
Prosperity Home Mortgage, LLC 2 2.56% $9,057
Wells Fargo Bank 2 2.25% $4,306
Florida Capital Bank 1 2.50% $10,999
First Horizon Bank 1 2.50% $3,671
AMERICAN FINANCING CORPORATION 1 2.75% $1,174
Mid-Continent Funding, Inc. 1 3.25% $3,125
ACCELERATE MORTGAGE, LLC 1 1.75% $9,710
First Home Bank 1 2.25% $11,312
Fifth Third Bank 1 2.88% $3,415
Equity Prime Mortgage LLC 1 4.00% $10,940
CROSSCOUNTRY MORTGAGE, LLC 1 2.88% $3,029
NBKC BANK 1 2.75% $4,733
CHURCHILL MORTGAGE CORPORATION 1 2.63% $6,007
VYSTAR 1 2.13% $11,838
NORTHPOINT MORTGAGE, INC. 1 2.38% $3,754
NP, Inc. 1 2.25% $2,513
OVM FINANCIAL, INC. 1 2.88% $4,816
Century Mortgage Company DBA Century Lending Company 1 3.38% $250
PENTAGON FEDERAL CREDIT UNION 1 2.25% $1,501
PLANET HOME LENDING, LLC 1 2.75% $830
Platinum Home Mortgage Corporation 1 3.25% $12,502
Waterstone Mortgage Corporation 1 2.88% $3,249
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.75% $2,305
ROSS MORTGAGE CORPORATION 1 4.13% $9,639
South State Bank 1 2.50% $5,524
SOUTHWEST STAGE FUNDING, LLC 1 2.75% $3,459
SPACE COAST Credit Union 1 3.00% $4,242
STOCKTON MORTGAGE CORPORATION 1 3.50% $4,951
Strong Home Mortgage, LLC 1 2.25% $3,553
SUCCESS MORTGAGE PARTNERS, INC. 1 4.13% $4,641
Ameris Bank 1 2.63% $8,751
THE MORTGAGE FIRM, INC. 1 2.50% $7,833
ACADEMY MORTGAGE CORPORATION 1 2.25% $3,743
HOME POINT FINANCIAL CORPORATION 1 2.88% $9,043
GUARANTY HOME MORTGAGE CORPORATION 1 2.63% $4,837
AMERISAVE MORTGAGE CORPORATION 1 2.88% $4,606
INTERCAP LENDING INC. 1 2.25% $194
JET HOMELOANS, LLC 1 3.63% $825
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.25% $2,991

The top Palatka VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 23 VA loans originated. Their average total fees are $4,334, which is $2,753 lower than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Palatka VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,339), VILLAGE CAPITAL MORTGAGE ($2,416), UNITED WHOLESALE MORTGAGE, LLC ($3,583), QUICKEN LOANS, LLC ($4,334) and CALIBER HOME LOANS, INC. ($5,399).

The lowest rate Palatka VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.55%), VILLAGE CAPITAL MORTGAGE (2.57%), UNITED WHOLESALE MORTGAGE, LLC (2.58%), FREEDOM MORTGAGE CORPORATION (2.63%) and CALIBER HOME LOANS, INC. (2.81%).


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 (43.9%) $279,204 (35.0%) 0.00 292
2018-02-01 $223,550 (51.2%) $279,127 (31.7%) 0.00 287
2018-03-01 $220,000 (44.4%) $269,247 (24.2%) 0.00 302
2018-04-01 $220,000 (38.4%) $275,388 (25.4%) 0.00 304
2018-05-01 $227,850 (35.6%) $281,312 (25.1%) 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 (-2.6%) 0.00 271
2019-03-01 $218,800 (-0.6%) $278,509 (3.4%) 0.00 271
2019-04-01 $223,350 (1.5%) $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%) $299,065 (10.0%) 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%) $334,226 (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 (1.3%) 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%) $334,123 (0.0%) 0.00 107
2021-06-01 $219,998 (0.7%) $329,533 (-4.8%) 0.00 129
2021-07-01 $216,990 (-5.2%) $324,275 (-1.0%) 0.00 145
2021-08-01 $217,673 (-4.1%) $325,331 (4.6%) 0.00 149
2021-09-01 $228,973 (0.0%) $314,563 (5.8%) 0.00 147
2021-10-01 $247,000 (12.8%) $382,194 (42.6%) 0.00 152
2021-11-01 $265,000 (15.7%) $408,336 (33.8%) 0.00 160
2021-12-01 $275,950 (20.5%) $411,668 (34.3%) 0.00 155
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 $272,475 (15.0%) $486,543 (45.6%) 0.00 141
2022-06-01 $322,400 (46.6%) $562,842 (70.8%) 0.00 156
2022-07-01 $299,900 (38.2%) $455,937 (40.6%) 0.00 180
2022-08-01 $302,200 (38.8%) $444,067 (36.5%) 0.00 195
2022-09-01 $299,500 (30.8%) $452,546 (43.9%) 0.00 206
2022-10-01 $300,990 (21.9%) $483,630 (26.5%) 0.00 211
2022-11-01 $317,500 (19.8%) $501,669 (22.9%) 0.00 214
Palatka's median listing price for 2022-11-01 was $317,500, a difference of $52,500 (19.8%) versus the prior year and $16,510 versus the prior month.

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

Palatka's average listing price for 2022-11-01 was $501,669, a difference of $93,333 (22.9%) versus the prior year and $18,039 versus the prior month.

For the 2022-11-01 period, Palatka had 214 MLS listings, a difference of 3 listings (1%) versus the prior month and 54 listings (34%) 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 1,756 sqft
2018-04-01 0 days 1,754 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 1,677 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 1,476 sqft
2021-07-01 0 days 1,437 sqft
2021-08-01 0 days 1,514 sqft
2021-09-01 0 days 1,529 sqft
2021-10-01 0 days 1,586 sqft
2021-11-01 0 days 1,579 sqft
2021-12-01 0 days 1,625 sqft
2022-01-01 0 days 1,709 sqft
2022-02-01 0 days 1,701 sqft
2022-03-01 0 days 1,731 sqft
2022-04-01 0 days 1,547 sqft
2022-05-01 0 days 1,529 sqft
2022-06-01 0 days 1,690 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 1,621 sqft
Palatka's median listing age (time on market) for 2022-11-01 was 0 days.

Palatka's median square footage for active listings during the 2022-11-01 period was 1,621 sqft. One year prior, the average listing was 1,579 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.