Payson VA Loan Rates, Closing Costs & Stats

Payson, AZ

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.

Payson's 30 lenders originated 77 VA loans during 2023. The total origination value was $26,115,000, with an average VA loan value of $339,156.

Payson VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Payson averaged 7.18% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

Payson's average VA mortgage closing costs are $6,094.

The average rate for the prior week (2024-04-05) was 6.83% and one month ago for the week of 2024-03-08, the average rate was 6.86%.

The average rate one year ago was 6.26%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.47%.

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

Payson 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 Payson level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 13 6.62% $6,483
UNITED WHOLESALE MORTGAGE, LLC 8 6.21% $8,606
QUICKEN LOANS, LLC 8 5.75% $16,069
AMERICAN PACIFIC MORTGAGE CORPORATION 4 5.91% $12,104
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.06% $12,635
LOANDEPOT.COM, LLC 3 6.62% $11,537
NOVA FINANCIAL & INVESTMENT CORPORATION 3 6.71% $10,179
FREEDOM MORTGAGE CORPORATION 3 6.58% $22,253
GUILD MORTGAGE COMPANY 3 6.92% $12,908
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.88% $10,706
NAVY FEDERAL CREDIT UNION 2 5.63% $10,497
NEW DAY FINANCIAL, LLC 2 7.69% $6,830
SUN AMERICAN MORTGAGE COMPANY 2 7.13% $7,572
PLAZA HOME MORTGAGE, INC. 1 6.25% $3,339
USAA Federal Savings Bank 1 5.13% $40,795
V.I.P. MORTGAGE, INC. 1 5.99% $2,216
ALTITUDE FINANCIAL CORPORATION 1 6.63% $10,998
Waterstone Mortgage Corporation 1 6.63% $18,776
AMERICAN FINANCIAL RESOURCES, INC. 1 5.75% $5,879
BAY EQUITY LLC 1 6.13% $10,145
CROSSCOUNTRY MORTGAGE, LLC 1 7.13% $10,624
INTERLINC MORTGAGE SERVICES, LLC 1 7.38% $15,651
LOANPAL, LLC 1 6.38% $15,196
Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $7,306
Neighborhood Loans, Inc. 1 7.13% $17,341
NEWREZ LLC 1 5.63% $9,855
Northpointe Bank 1 6.75% $5,347
Paramount Residential Mortgage Group, Inc. 1 6.25% $5,201
PENNYMAC LOAN SERVICES, LLC 1 5.25% $5,832
PENTAGON FEDERAL CREDIT UNION 1 6.88% $8,393

The top Payson VA lender as defined by loan originations is Mortgage Research Center, LLC, with 13 VA loans originated. Their average total fees are $6,483, which is $2,123 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Payson VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,483), .

The lowest rate Payson VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.62%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Payson (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 $301,175 (11.7%) $432,695 (12.2%) 0.00 355
2018-02-01 $299,900 (9.1%) $428,093 (11.6%) 0.00 346
2018-03-01 $299,900 (8.6%) $425,672 (10.4%) 0.00 367
2018-04-01 $310,750 (4.3%) $422,226 (5.6%) 0.00 380
2018-05-01 $316,750 (5.8%) $421,001 (3.5%) 0.00 417
2018-06-01 $319,250 (4.7%) $423,219 (0.7%) 0.00 436
2018-07-01 $325,900 (3.5%) $427,062 (1.0%) 0.00 435
2018-08-01 $339,450 (5.3%) $441,756 (2.1%) 0.00 403
2018-09-01 $349,500 (11.0%) $461,279 (6.8%) 0.00 394
2018-10-01 $342,000 (14.3%) $463,468 (11.2%) 0.00 374
2018-11-01 $339,500 (13.7%) $466,231 (12.9%) 0.00 359
2018-12-01 $335,900 (12.3%) $466,004 (9.3%) 0.00 335
2019-01-01 $346,000 (14.9%) $457,522 (5.7%) 0.00 283
2019-02-01 $349,675 (16.6%) $454,444 (6.2%) 0.00 306
2019-03-01 $343,900 (14.7%) $449,298 (5.6%) 0.00 330
2019-04-01 $335,675 (8.0%) $440,698 (4.4%) 0.00 364
2019-05-01 $337,225 (6.5%) $440,824 (4.7%) 0.00 384
2019-06-01 $339,000 (6.2%) $439,801 (3.9%) 0.00 403
2019-07-01 $333,750 (2.4%) $431,102 (1.0%) 0.00 429
2019-08-01 $336,333 (-0.9%) $433,250 (-1.9%) 0.00 412
2019-09-01 $336,982 (-3.6%) $432,471 (-6.3%) 0.00 392
2019-10-01 $338,244 (-1.1%) $432,656 (-6.7%) 0.00 374
2019-11-01 $345,000 (1.6%) $445,416 (-4.5%) 0.00 333
2019-12-01 $342,250 (1.9%) $452,698 (-2.9%) 0.00 308
2020-01-01 $338,800 (-2.1%) $459,233 (0.4%) 0.00 259
2020-02-01 $332,200 (-5.0%) $471,419 (3.7%) 0.00 256
2020-03-01 $358,000 (4.1%) $476,585 (6.1%) 0.00 276
2020-04-01 $332,700 (-0.9%) $451,788 (2.5%) 0.00 304
2020-05-01 $340,000 (0.8%) $458,995 (4.1%) 0.00 300
2020-06-01 $344,825 (1.7%) $467,573 (6.3%) 0.00 254
2020-07-01 $364,900 (9.3%) $493,258 (14.4%) 0.00 207
2020-08-01 $364,900 (8.5%) $517,614 (19.5%) 0.00 151
2020-09-01 $362,450 (7.6%) $546,616 (26.4%) 0.00 142
2020-10-01 $399,500 (18.1%) $585,833 (35.4%) 0.00 129
2020-11-01 $396,000 (14.8%) $618,216 (38.8%) 0.00 112
2020-12-01 $389,500 (13.8%) $609,469 (34.6%) 0.00 102
2021-01-01 $399,900 (18.0%) $623,115 (35.7%) 0.00 102
2021-02-01 $432,500 (30.2%) $748,470 (58.8%) 0.00 89
2021-03-01 $471,833 (31.8%) $761,421 (59.8%) 0.00 92
2021-04-01 $438,750 (31.9%) $697,260 (54.3%) 0.00 108
2021-05-01 $450,278 (32.4%) $665,506 (45.0%) 0.00 110
2021-06-01 $474,125 (37.5%) $657,117 (40.5%) 0.00 118
2021-07-01 $458,000 (25.5%) $634,646 (28.7%) 0.00 130
2021-08-01 $472,500 (29.5%) $621,831 (20.1%) 0.00 140
2021-09-01 $467,350 (28.9%) $630,583 (15.4%) 0.00 144
2021-10-01 $460,000 (15.1%) $647,435 (10.5%) 0.00 135
2021-11-01 $444,450 (12.2%) $648,439 (4.9%) 0.00 115
2021-12-01 $444,450 (14.1%) $647,938 (6.3%) 0.00 105
2022-01-01 $450,000 (12.5%) $642,038 (3.0%) 0.00 98
2022-02-01 $439,000 (1.5%) $592,471 (-20.8%) 0.00 102
2022-03-01 $443,738 (-6.0%) $629,036 (-17.4%) 0.00 104
2022-04-01 $482,200 (9.9%) $644,438 (-7.6%) 0.00 135
2022-05-01 $499,475 (10.9%) $640,465 (-3.8%) 0.00 189
2022-06-01 $532,000 (12.2%) $651,282 (-0.9%) 0.00 241
2022-07-01 $525,000 (14.6%) $645,073 (1.6%) 0.00 273
2022-08-01 $512,375 (8.4%) $620,123 (-0.3%) 0.00 287
2022-09-01 $497,000 (6.3%) $601,382 (-4.6%) 0.00 298
2022-10-01 $489,250 (6.4%) $595,189 (-8.1%) 0.00 290
2022-11-01 $476,000 (7.1%) $591,591 (-8.8%) 0.00 279
2022-12-01 $474,900 (6.9%) $582,460 (-10.1%) 0.00 239
2023-01-01 $462,200 (2.7%) $569,696 (-11.3%) 0.00 210
2023-02-01 $472,225 (7.6%) $622,519 (5.1%) 0.00 192
2023-03-01 $482,000 (8.6%) $632,898 (0.6%) 0.00 189
2023-04-01 $513,500 (6.5%) $633,645 (-1.7%) 0.00 200
2023-05-01 $515,000 (3.1%) $619,335 (-3.3%) 0.00 237
2023-06-01 $525,000 (-1.3%) $650,902 (-0.1%) 0.00 271
2023-07-01 $525,000 (0.0%) $676,277 (4.8%) 0.00 281
2023-08-01 $495,000 (-3.4%) $671,175 (8.2%) 0.00 294
2023-09-01 $499,000 (0.4%) $692,276 (15.1%) 0.00 286
2023-10-01 $479,750 (-1.9%) $659,134 (10.7%) 0.00 297
2023-11-01 $477,875 (0.4%) $653,108 (10.4%) 0.00 295
2023-12-01 $474,950 (0.0%) $649,069 (11.4%) 0.00 268
2024-01-01 $494,125 (6.9%) $640,198 (12.4%) 0.00 226
2024-02-01 $560,750 (18.8%) $683,812 (9.9%) 0.00 226
2024-03-01 $527,500 (9.4%) $680,717 (7.6%) 0.00 282
Payson's median listing price for 2024-03-01 was $527,500, a difference of $45,500 (9.4%) versus the prior year and $-33,250 versus the prior month.

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

Payson's average listing price for 2024-03-01 was $680,717, a difference of $47,819 (7.6%) versus the prior year and $-3,095 versus the prior month.

For the 2024-03-01 period, Payson had 282 MLS listings, a difference of 56 listings (25%) versus the prior month and 93 listings (49%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Payson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,960 sqft
2018-02-01 0 days 1,926 sqft
2018-03-01 0 days 1,951 sqft
2018-04-01 0 days 1,903 sqft
2018-05-01 0 days 1,863 sqft
2018-06-01 0 days 1,877 sqft
2018-07-01 0 days 1,887 sqft
2018-08-01 0 days 1,911 sqft
2018-09-01 0 days 1,935 sqft
2018-10-01 0 days 1,918 sqft
2018-11-01 0 days 1,898 sqft
2018-12-01 0 days 1,840 sqft
2019-01-01 0 days 1,888 sqft
2019-02-01 0 days 1,894 sqft
2019-03-01 0 days 1,864 sqft
2019-04-01 0 days 1,826 sqft
2019-05-01 0 days 1,835 sqft
2019-06-01 0 days 1,846 sqft
2019-07-01 0 days 1,823 sqft
2019-08-01 0 days 1,870 sqft
2019-09-01 0 days 1,892 sqft
2019-10-01 0 days 1,906 sqft
2019-11-01 0 days 1,906 sqft
2019-12-01 0 days 1,926 sqft
2020-01-01 0 days 1,939 sqft
2020-02-01 0 days 1,855 sqft
2020-03-01 0 days 1,934 sqft
2020-04-01 0 days 1,830 sqft
2020-05-01 0 days 1,891 sqft
2020-06-01 0 days 1,935 sqft
2020-07-01 0 days 2,025 sqft
2020-08-01 0 days 2,020 sqft
2020-09-01 0 days 2,062 sqft
2020-10-01 0 days 2,074 sqft
2020-11-01 0 days 2,101 sqft
2020-12-01 0 days 2,053 sqft
2021-01-01 0 days 2,088 sqft
2021-02-01 0 days 2,172 sqft
2021-03-01 0 days 2,282 sqft
2021-04-01 0 days 2,123 sqft
2021-05-01 0 days 2,066 sqft
2021-06-01 0 days 1,913 sqft
2021-07-01 0 days 1,815 sqft
2021-08-01 0 days 1,821 sqft
2021-09-01 0 days 1,792 sqft
2021-10-01 0 days 1,800 sqft
2021-11-01 0 days 1,750 sqft
2021-12-01 0 days 1,724 sqft
2022-01-01 0 days 1,750 sqft
2022-02-01 0 days 1,584 sqft
2022-03-01 0 days 1,627 sqft
2022-04-01 0 days 1,692 sqft
2022-05-01 0 days 1,730 sqft
2022-06-01 0 days 1,747 sqft
2022-07-01 0 days 1,770 sqft
2022-08-01 0 days 1,754 sqft
2022-09-01 0 days 1,766 sqft
2022-10-01 0 days 1,773 sqft
2022-11-01 0 days 1,752 sqft
2022-12-01 0 days 1,700 sqft
2023-01-01 0 days 1,646 sqft
2023-02-01 0 days 1,690 sqft
2023-03-01 0 days 1,742 sqft
2023-04-01 0 days 1,722 sqft
2023-05-01 0 days 1,721 sqft
2023-06-01 0 days 1,801 sqft
2023-07-01 0 days 1,794 sqft
2023-08-01 0 days 1,748 sqft
2023-09-01 0 days 1,792 sqft
2023-10-01 0 days 1,751 sqft
2023-11-01 0 days 1,735 sqft
2023-12-01 0 days 1,710 sqft
2024-01-01 0 days 1,725 sqft
2024-02-01 0 days 1,812 sqft
2024-03-01 0 days 1,751 sqft
Payson's median listing age (time on market) for 2024-03-01 was 0 days.

Payson's median square footage for active listings during the 2024-03-01 period was 1,751 sqft. One year prior, the average listing was 1,742 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.