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 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.