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 47 lenders originated 146 VA loans during 2023. The total origination value was $38,220,000, with an average VA loan value of $261,781.

Palatka VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Palatka averaged 0.11% for the week of 2024-11-29, compared to the national average (all VA variants) of 0% for the same period.

Palatka's average VA mortgage closing costs are $5,986.

The average rate for the prior week (2024-11-22) was 6.78% and one month ago for the week of 2024-10-25, the average rate was 6.68%.

The average rate one year ago was 7.32%.

For refis of the same type during the week of 2024-11-29, 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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 25 6.97% $5,528
UNITED WHOLESALE MORTGAGE, LLC 20 6.42% $7,428
QUICKEN LOANS, LLC 15 6.44% $9,814
Equity Prime Mortgage LLC 6 7.52% $7,638
NAVY FEDERAL CREDIT UNION 5 5.70% $3,865
South State Bank 4 6.34% $4,803
PLAZA HOME MORTGAGE, INC. 3 7.25% $7,430
LOANDEPOT.COM, LLC 3 6.21% $16,075
FIRST MORTGAGE COMPANY, INC. 2 5.81% $18,205
Truist 2 5.93% $16,486
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.75% $0
Mr. Cooper ( Nationstar Mortgage ) 2 5.56% $16,977
MOVEMENT MORTGAGE, LLC 2 6.94% $15,296
FREEDOM MORTGAGE CORPORATION 2 6.75% $6,149
CROSSCOUNTRY MORTGAGE, LLC 2 6.56% $10,899
AMERICAN FINANCIAL RESOURCES, INC. 2 6.69% $11,107
INSPIRE HOME LOANS INC. 2 6.31% $8,040
PENNYMAC LOAN SERVICES, LLC 2 5.25% $19,831
First Federal Bank 2 6.31% $10,723
MILEND, INC. 2 7.50% $21,338
Plains Commerce Bank 1 5.75% $14,738
PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.75% $9,722
The Federal Savings Bank 1 6.75% $18,793
THE MORTGAGE FIRM, INC. 1 6.75% $7,288
TOWNE MORTGAGE COMPANY 1 6.99% $2,863
USAA Federal Savings Bank 1 7.13% $6,094
AMERICAN FINANCIAL NETWORK, INC. 1 7.13% $16,294
VILLAGE CAPITAL MORTGAGE 1 6.50% $8,279
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.75% $12,964
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.99% $6,165
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $18,132
Bank of England 1 5.75% $6,653
BROKER SOLUTIONS, INC. 1 5.75% $9,360
CARDINAL FINANCIAL 1 7.25% $9,578
Century Mortgage Company DBA Century Lending Company 1 6.63% $4,937
CHURCHILL MORTGAGE CORPORATION 1 6.25% $15,486
EMM LOANS LLC 1 7.63% $14,851
GERSHMAN INVESTMENT CORP. 1 6.25% $22,263
Goldwater Bank, N.A. 1 7.25% $24,625
Ixonia Bank 1 6.75% $9,832
MID AMERICA MORTGAGE, INC. 1 7.25% $6,564
Mortgage Lenders Investment Trading Corporation 1 6.75% $4,961
Nations Lending Corporation 1 5.75% $16,049
NBKC BANK 1 5.63% $8,665
NEW DAY FINANCIAL, LLC 1 7.99% $10,381
NEWREZ LLC 1 6.25% $14,997
Paramount Residential Mortgage Group, Inc. 1 7.63% $17,840

The top Palatka VA lender as defined by loan originations is Mortgage Research Center, LLC, with 25 VA loans originated. Their average total fees are $5,528, which is $1,899 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 ($5,528), UNITED WHOLESALE MORTGAGE, LLC ($7,428), QUICKEN LOANS, LLC ($9,814), .

The lowest rate Palatka VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.42%), QUICKEN LOANS, LLC (6.44%), Mortgage Research Center, LLC (6.97%), .


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%) $278,684 (35.0%) 0.00 294
2018-02-01 $222,400 (51.5%) $278,754 (31.9%) 0.00 288
2018-03-01 $219,950 (44.5%) $268,821 (24.2%) 0.00 304
2018-04-01 $219,900 (38.3%) $275,393 (25.7%) 0.00 307
2018-05-01 $227,850 (35.2%) $281,719 (24.5%) 0.00 287
2018-06-01 $225,000 (31.7%) $280,382 (21.7%) 0.00 280
2018-07-01 $225,975 (25.7%) $277,224 (14.0%) 0.00 269
2018-08-01 $224,975 (20.0%) $272,648 (10.1%) 0.00 259
2018-09-01 $209,950 (5.2%) $260,927 (3.5%) 0.00 270
2018-10-01 $201,188 (1.1%) $253,804 (1.2%) 0.00 280
2018-11-01 $199,448 (-0.9%) $246,883 (-4.6%) 0.00 287
2018-12-01 $199,000 (-0.5%) $248,231 (-4.5%) 0.00 280
2019-01-01 $197,975 (-7.8%) $267,397 (-4.1%) 0.00 270
2019-02-01 $212,400 (-4.5%) $272,861 (-2.1%) 0.00 272
2019-03-01 $219,786 (-0.1%) $279,791 (4.1%) 0.00 272
2019-04-01 $224,261 (2.0%) $287,918 (4.6%) 0.00 272
2019-05-01 $228,225 (0.2%) $298,528 (6.0%) 0.00 262
2019-06-01 $224,900 (0.0%) $269,482 (-3.9%) 0.00 257
2019-07-01 $221,950 (-1.8%) $266,770 (-3.8%) 0.00 279
2019-08-01 $217,000 (-3.5%) $263,578 (-3.3%) 0.00 286
2019-09-01 $212,500 (1.2%) $258,599 (-0.9%) 0.00 290
2019-10-01 $204,500 (1.7%) $255,572 (0.7%) 0.00 290
2019-11-01 $206,999 (3.8%) $257,707 (4.4%) 0.00 266
2019-12-01 $222,425 (11.8%) $260,896 (5.1%) 0.00 272
2020-01-01 $221,850 (12.1%) $290,608 (8.7%) 0.00 277
2020-02-01 $215,000 (1.2%) $299,446 (9.7%) 0.00 285
2020-03-01 $214,450 (-2.4%) $305,001 (9.0%) 0.00 253
2020-04-01 $223,850 (-0.2%) $312,944 (8.7%) 0.00 232
2020-05-01 $224,900 (-1.5%) $334,932 (12.2%) 0.00 201
2020-06-01 $222,950 (-0.9%) $346,661 (28.6%) 0.00 180
2020-07-01 $229,000 (3.2%) $328,067 (23.0%) 0.00 193
2020-08-01 $229,000 (5.5%) $311,593 (18.2%) 0.00 186
2020-09-01 $229,000 (7.8%) $297,285 (15.0%) 0.00 169
2020-10-01 $219,000 (7.1%) $268,006 (4.9%) 0.00 176
2020-11-01 $229,000 (10.6%) $305,142 (18.4%) 0.00 154
2020-12-01 $229,000 (3.0%) $306,434 (17.5%) 0.00 155
2021-01-01 $219,900 (-0.9%) $300,733 (3.5%) 0.00 141
2021-02-01 $228,000 (6.1%) $303,054 (1.2%) 0.00 141
2021-03-01 $229,000 (6.8%) $320,336 (5.0%) 0.00 138
2021-04-01 $225,750 (0.9%) $347,575 (11.1%) 0.00 106
2021-05-01 $236,998 (5.4%) $333,087 (-0.6%) 0.00 107
2021-06-01 $216,248 (-3.0%) $328,552 (-5.2%) 0.00 130
2021-07-01 $215,995 (-5.7%) $322,850 (-1.6%) 0.00 147
2021-08-01 $217,673 (-5.0%) $323,951 (4.0%) 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%) $560,823 (70.7%) 0.00 156
2022-07-01 $299,700 (38.8%) $454,466 (40.8%) 0.00 181
2022-08-01 $300,975 (38.3%) $442,804 (36.7%) 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%) $420,455 (-16.4%) 0.00 205
2023-03-01 $294,900 (3.1%) $413,827 (-20.1%) 0.00 192
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 (-26.5%) 0.00 179
2023-07-01 $299,900 (0.1%) $453,229 (-0.3%) 0.00 192
2023-08-01 $298,050 (-1.0%) $426,981 (-3.6%) 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
2023-11-01 $299,975 (-5.5%) $446,654 (-11.0%) 0.00 213
2023-12-01 $299,950 (1.7%) $411,176 (-4.0%) 0.00 230
2024-01-01 $316,700 (7.4%) $430,026 (1.6%) 0.00 229
2024-02-01 $317,475 (7.7%) $441,189 (4.9%) 0.00 222
2024-03-01 $309,950 (5.1%) $445,585 (7.7%) 0.00 229
2024-04-01 $299,950 (0.5%) $441,201 (6.0%) 0.00 251
2024-05-01 $299,950 (-3.5%) $429,784 (3.0%) 0.00 252
2024-06-01 $299,900 (-1.3%) $420,069 (1.9%) 0.00 272
2024-07-01 $300,000 (0.0%) $427,904 (-5.6%) 0.00 278
2024-08-01 $320,000 (7.4%) $422,666 (-1.0%) 0.00 297
2024-09-01 $324,500 (8.2%) $428,853 (-3.4%) 0.00 311
2024-10-01 $325,000 (4.9%) $426,329 (-5.7%) 0.00 316
Palatka's median listing price for 2024-10-01 was $325,000, a difference of $15,100 (4.9%) versus the prior year and $500 versus the prior month.

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

Palatka's average listing price for 2024-10-01 was $426,329, a difference of $-25,751 (-5.7%) versus the prior year and $-2,524 versus the prior month.

For the 2024-10-01 period, Palatka had 316 MLS listings, a difference of 5 listings (2%) versus the prior month and 112 listings (55%) 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 1,673 sqft
2018-03-01 0 days 1,751 sqft
2018-04-01 0 days 1,750 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 1,801 sqft
2018-09-01 0 days 1,792 sqft
2018-10-01 0 days 1,768 sqft
2018-11-01 0 days 1,723 sqft
2018-12-01 0 days 1,699 sqft
2019-01-01 0 days 1,686 sqft
2019-02-01 0 days 1,720 sqft
2019-03-01 0 days 1,768 sqft
2019-04-01 0 days 1,800 sqft
2019-05-01 0 days 1,802 sqft
2019-06-01 0 days 1,748 sqft
2019-07-01 0 days 1,745 sqft
2019-08-01 0 days 1,725 sqft
2019-09-01 0 days 1,705 sqft
2019-10-01 0 days 1,682 sqft
2019-11-01 0 days 1,686 sqft
2019-12-01 0 days 1,709 sqft
2020-01-01 0 days 1,725 sqft
2020-02-01 0 days 1,733 sqft
2020-03-01 0 days 1,701 sqft
2020-04-01 0 days 1,731 sqft
2020-05-01 0 days 1,682 sqft
2020-06-01 0 days 1,671 sqft
2020-07-01 0 days 1,886 sqft
2020-08-01 0 days 1,774 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 1,625 sqft
2022-01-01 0 days 1,722 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 1,531 sqft
2022-06-01 0 days 1,688 sqft
2022-07-01 0 days 1,650 sqft
2022-08-01 0 days 1,662 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
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 1,516 sqft
2023-10-01 0 days 1,496 sqft
2023-11-01 0 days 1,529 sqft
2023-12-01 0 days 1,537 sqft
2024-01-01 0 days 1,607 sqft
2024-02-01 0 days 1,563 sqft
2024-03-01 0 days 1,587 sqft
2024-04-01 0 days 1,551 sqft
2024-05-01 0 days 1,527 sqft
2024-06-01 0 days 1,527 sqft
2024-07-01 0 days 1,600 sqft
2024-08-01 0 days 1,568 sqft
2024-09-01 0 days 1,606 sqft
2024-10-01 0 days 1,631 sqft
Palatka's median listing age (time on market) for 2024-10-01 was 0 days.

Palatka's median square footage for active listings during the 2024-10-01 period was 1,631 sqft. One year prior, the average listing was 1,496 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.