Rome VA Loan Rates, Closing Costs & Stats

ROME, GA

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.

Rome's 45 lenders originated 112 VA loans during 2023. The total origination value was $29,580,000, with an average VA loan value of $264,107.

Rome VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Rome averaged 6.72% for the week of 2024-05-17, compared to the national average (all VA variants) of 6.502% for the same period.

Rome's average VA mortgage closing costs are $5,306.

The average rate for the prior week (2024-05-10) was 7.02% and one month ago for the week of 2024-04-12, the average rate was 6.91%.

The average rate one year ago was 6.31%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.92%.

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

Rome 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 Rome level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 21 6.82% $5,158
Synovus Bank 7 5.80% $10,314
USAA Federal Savings Bank 5 6.33% $6,291
QUICKEN LOANS, LLC 5 6.24% $6,859
Ameris Bank 4 6.19% $5,388
NEW DAY FINANCIAL, LLC 4 7.21% $10,331
HOMESTAR FINANCIAL CORPORATION 4 6.63% $8,296
BANKSOUTH MORTGAGE COMPANY, LLC 4 6.00% $9,200
UNITED WHOLESALE MORTGAGE, LLC 4 6.88% $5,149
NAVY FEDERAL CREDIT UNION 4 5.69% $2,613
PENNYMAC LOAN SERVICES, LLC 3 6.08% $7,657
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.75% $325
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.94% $9,406
CANOPY MORTGAGE, LLC 2 7.13% $16,087
Barrington Bank & Trust Company, N.A. 2 6.75% $4,961
FREEDOM MORTGAGE CORPORATION 2 6.69% $25,975
GUARANTEED RATE, INC. 2 6.88% $4,358
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $21,171
NEWREZ LLC 1 6.75% $9,056
NFM, INC. 1 7.38% $4,311
PENTAGON FEDERAL CREDIT UNION 1 5.88% $3,132
PLANET HOME LENDING, LLC 1 5.38% $6,258
Prosperity Home Mortgage, LLC 1 6.99% $2,802
STOCKTON MORTGAGE CORPORATION 1 6.25% $14,266
SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $7,259
SWBC MORTGAGE CORPORATION 1 6.00% $4,828
The Federal Savings Bank 1 6.25% $17,507
Alcova Mortgage LLC 1 6.13% $9,440
VILLAGE CAPITAL MORTGAGE 1 5.25% $6,717
AMERICAN FINANCIAL NETWORK, INC. 1 7.88% $1,757
American Mortgage & Equity Consultants, Inc. 1 7.25% $8,521
BROKER SOLUTIONS, INC. 1 5.75% $10,203
CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $4,943
DAS Acquisition Company, LLC 1 6.63% $4,200
EMM LOANS LLC 1 6.00% $10,541
Equity Prime Mortgage LLC 1 7.75% $4,026
FirstBank 1 6.00% $9,617
First Federal Bank 1 6.25% $12,468
GUILD MORTGAGE COMPANY 1 6.13% $18,609
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.63% $2,207
ISERVE RESIDENTIAL LENDING, LLC 1 6.63% $32,486
JPMorgan Chase Bank 1 5.75% $2,959
Magnolia Bank 1 6.13% $4,965
Meridian Bank Corporation 1 6.13% $13,904
Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $11,079

The top Rome VA lender as defined by loan originations is Mortgage Research Center, LLC, with 21 VA loans originated. Their average total fees are $5,158, which is $5,157 lower than the next largest lender, Synovus Bank.

The lowest fee Rome VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,158), .

The lowest rate Rome VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.82%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Rome (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 $179,700 (15.5%) $243,993 (5.7%) 0.00 320
2018-02-01 $170,575 (12.9%) $229,231 (5.2%) 0.00 326
2018-03-01 $175,000 (16.7%) $233,905 (5.9%) 0.00 339
2018-04-01 $179,900 (13.9%) $249,023 (8.9%) 0.00 362
2018-05-01 $189,500 (18.5%) $260,546 (11.6%) 0.00 353
2018-06-01 $199,000 (18.5%) $268,334 (13.5%) 0.00 353
2018-07-01 $192,350 (16.7%) $264,456 (13.6%) 0.00 381
2018-08-01 $177,400 (4.4%) $255,653 (7.2%) 0.00 427
2018-09-01 $174,950 (3.0%) $264,159 (11.8%) 0.00 402
2018-10-01 $159,683 (-8.7%) $240,117 (-1.9%) 0.00 447
2018-11-01 $164,900 (-5.8%) $242,640 (0.0%) 0.00 459
2018-12-01 $160,000 (-8.5%) $244,447 (1.8%) 0.00 440
2019-01-01 $158,563 (-11.8%) $246,323 (1.0%) 0.00 399
2019-02-01 $169,900 (-0.4%) $274,795 (19.9%) 0.00 385
2019-03-01 $175,614 (0.4%) $281,539 (20.4%) 0.00 376
2019-04-01 $171,264 (-4.8%) $277,041 (11.3%) 0.00 405
2019-05-01 $187,425 (-1.1%) $290,157 (11.4%) 0.00 416
2019-06-01 $189,900 (-4.6%) $275,752 (2.8%) 0.00 431
2019-07-01 $195,279 (1.5%) $277,182 (4.8%) 0.00 443
2019-08-01 $207,950 (17.2%) $279,353 (9.3%) 0.00 433
2019-09-01 $209,075 (19.5%) $278,034 (5.3%) 0.00 413
2019-10-01 $217,325 (36.1%) $286,841 (19.5%) 0.00 382
2019-11-01 $219,900 (33.4%) $290,946 (19.9%) 0.00 344
2019-12-01 $219,900 (37.4%) $287,387 (17.6%) 0.00 348
2020-01-01 $219,675 (38.5%) $283,184 (15.0%) 0.00 308
2020-02-01 $232,500 (36.9%) $289,491 (5.4%) 0.00 317
2020-03-01 $230,750 (31.4%) $284,290 (1.0%) 0.00 307
2020-04-01 $222,200 (29.7%) $288,409 (4.1%) 0.00 307
2020-05-01 $239,900 (28.0%) $307,120 (5.9%) 0.00 286
2020-06-01 $248,200 (30.7%) $312,405 (13.3%) 0.00 254
2020-07-01 $245,925 (25.9%) $318,620 (15.0%) 0.00 229
2020-08-01 $246,950 (18.8%) $334,284 (19.7%) 0.00 219
2020-09-01 $234,950 (12.4%) $307,416 (10.6%) 0.00 221
2020-10-01 $219,950 (1.2%) $288,505 (0.6%) 0.00 218
2020-11-01 $220,000 (0.1%) $287,644 (-1.1%) 0.00 207
2020-12-01 $231,200 (5.1%) $299,369 (4.2%) 0.00 194
2021-01-01 $231,200 (5.3%) $319,735 (12.9%) 0.00 162
2021-02-01 $237,000 (1.9%) $341,119 (17.8%) 0.00 148
2021-03-01 $245,875 (6.6%) $342,749 (20.6%) 0.00 133
2021-04-01 $240,425 (8.2%) $339,622 (17.8%) 0.00 119
2021-05-01 $249,450 (4.0%) $370,879 (20.8%) 0.00 121
2021-06-01 $244,631 (-1.4%) $359,343 (15.0%) 0.00 158
2021-07-01 $234,900 (-4.5%) $344,706 (8.2%) 0.00 172
2021-08-01 $217,400 (-12.0%) $319,712 (-4.4%) 0.00 184
2021-09-01 $212,175 (-9.7%) $321,896 (4.7%) 0.00 165
2021-10-01 $210,000 (-4.5%) $319,739 (10.8%) 0.00 163
2021-11-01 $200,000 (-9.1%) $333,201 (15.8%) 0.00 155
2021-12-01 $226,200 (-2.2%) $339,259 (13.3%) 0.00 141
2022-01-01 $234,900 (1.6%) $369,939 (15.7%) 0.00 109
2022-02-01 $244,675 (3.2%) $381,733 (11.9%) 0.00 114
2022-03-01 $241,750 (-1.7%) $361,541 (5.5%) 0.00 138
2022-04-01 $249,000 (3.6%) $353,260 (4.0%) 0.00 141
2022-05-01 $247,528 (-0.8%) $337,838 (-8.9%) 0.00 168
2022-06-01 $250,000 (2.2%) $373,231 (3.9%) 0.00 170
2022-07-01 $257,900 (9.8%) $366,431 (6.3%) 0.00 195
2022-08-01 $251,200 (15.6%) $364,409 (14.0%) 0.00 191
2022-09-01 $259,450 (22.3%) $370,306 (15.0%) 0.00 189
2022-10-01 $243,750 (16.1%) $339,233 (6.1%) 0.00 210
2022-11-01 $239,500 (19.8%) $344,146 (3.3%) 0.00 219
2022-12-01 $242,475 (7.2%) $342,854 (1.1%) 0.00 200
2023-01-01 $244,912 (4.3%) $330,321 (-10.7%) 0.00 195
2023-02-01 $247,100 (1.0%) $320,176 (-16.1%) 0.00 200
2023-03-01 $261,230 (8.1%) $338,343 (-6.4%) 0.00 183
2023-04-01 $265,450 (6.6%) $334,318 (-5.4%) 0.00 166
2023-05-01 $285,000 (15.1%) $345,872 (2.4%) 0.00 156
2023-06-01 $280,000 (12.0%) $340,470 (-8.8%) 0.00 152
2023-07-01 $289,000 (12.1%) $360,199 (-1.7%) 0.00 159
2023-08-01 $286,750 (14.2%) $357,529 (-1.9%) 0.00 164
2023-09-01 $285,000 (9.9%) $355,756 (-3.9%) 0.00 174
2023-10-01 $288,200 (18.2%) $350,573 (3.3%) 0.00 215
2023-11-01 $284,900 (19.0%) $348,137 (1.2%) 0.00 227
2023-12-01 $289,900 (19.6%) $345,898 (0.9%) 0.00 225
2024-01-01 $275,000 (12.3%) $345,980 (4.7%) 0.00 209
2024-02-01 $268,750 (8.8%) $331,938 (3.7%) 0.00 221
2024-03-01 $274,950 (5.3%) $328,975 (-2.8%) 0.00 226
2024-04-01 $292,575 (10.2%) $344,386 (3.0%) 0.00 236
Rome's median listing price for 2024-04-01 was $292,575, a difference of $27,125 (10.2%) versus the prior year and $17,625 versus the prior month.

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

Rome's average listing price for 2024-04-01 was $344,386, a difference of $10,068 (3.0%) versus the prior year and $15,411 versus the prior month.

For the 2024-04-01 period, Rome had 236 MLS listings, a difference of 10 listings (4%) versus the prior month and 70 listings (42%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Rome (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,002 sqft
2018-02-01 0 days 1,816 sqft
2018-03-01 0 days 1,833 sqft
2018-04-01 0 days 1,907 sqft
2018-05-01 0 days 1,926 sqft
2018-06-01 0 days 1,938 sqft
2018-07-01 0 days 1,869 sqft
2018-08-01 0 days 1,820 sqft
2018-09-01 0 days 1,817 sqft
2018-10-01 0 days 1,877 sqft
2018-11-01 0 days 1,876 sqft
2018-12-01 0 days 1,872 sqft
2019-01-01 0 days 1,873 sqft
2019-02-01 0 days 1,854 sqft
2019-03-01 0 days 1,897 sqft
2019-04-01 0 days 1,914 sqft
2019-05-01 0 days 2,025 sqft
2019-06-01 0 days 2,156 sqft
2019-07-01 0 days 2,129 sqft
2019-08-01 0 days 2,079 sqft
2019-09-01 0 days 2,034 sqft
2019-10-01 0 days 2,011 sqft
2019-11-01 0 days 2,047 sqft
2019-12-01 0 days 1,958 sqft
2020-01-01 0 days 2,013 sqft
2020-02-01 0 days 2,026 sqft
2020-03-01 0 days 1,987 sqft
2020-04-01 0 days 1,974 sqft
2020-05-01 0 days 2,187 sqft
2020-06-01 0 days 2,242 sqft
2020-07-01 0 days 2,143 sqft
2020-08-01 0 days 2,081 sqft
2020-09-01 0 days 1,922 sqft
2020-10-01 0 days 1,837 sqft
2020-11-01 0 days 1,851 sqft
2020-12-01 0 days 1,820 sqft
2021-01-01 0 days 1,844 sqft
2021-02-01 0 days 1,840 sqft
2021-03-01 0 days 1,901 sqft
2021-04-01 0 days 1,878 sqft
2021-05-01 0 days 2,033 sqft
2021-06-01 0 days 1,860 sqft
2021-07-01 0 days 1,925 sqft
2021-08-01 0 days 1,748 sqft
2021-09-01 0 days 1,677 sqft
2021-10-01 0 days 1,670 sqft
2021-11-01 0 days 1,553 sqft
2021-12-01 0 days 1,627 sqft
2022-01-01 0 days 1,637 sqft
2022-02-01 0 days 1,744 sqft
2022-03-01 0 days 1,631 sqft
2022-04-01 0 days 1,800 sqft
2022-05-01 0 days 1,690 sqft
2022-06-01 0 days 1,871 sqft
2022-07-01 0 days 1,800 sqft
2022-08-01 0 days 1,752 sqft
2022-09-01 0 days 1,758 sqft
2022-10-01 0 days 1,733 sqft
2022-11-01 0 days 1,694 sqft
2022-12-01 0 days 1,659 sqft
2023-01-01 0 days 1,616 sqft
2023-02-01 0 days 1,638 sqft
2023-03-01 0 days 1,701 sqft
2023-04-01 0 days 1,686 sqft
2023-05-01 0 days 1,840 sqft
2023-06-01 0 days 1,850 sqft
2023-07-01 0 days 1,850 sqft
2023-08-01 0 days 1,894 sqft
2023-09-01 0 days 1,846 sqft
2023-10-01 0 days 1,807 sqft
2023-11-01 0 days 1,721 sqft
2023-12-01 0 days 1,778 sqft
2024-01-01 0 days 1,750 sqft
2024-02-01 0 days 1,660 sqft
2024-03-01 0 days 1,640 sqft
2024-04-01 0 days 1,772 sqft
Rome's median listing age (time on market) for 2024-04-01 was 0 days.

Rome's median square footage for active listings during the 2024-04-01 period was 1,772 sqft. One year prior, the average listing was 1,686 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.