Rome VA Loans

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 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 64 lenders originated 230 VA loans during 2021. The total origination value was $49,490,000, with an average VA loan value of $215,174.

Rome VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Rome averaged 5.76% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.69% and one month ago for the week of 2022-04-08, the average rate was 5.11%.

The average rate one year ago was 2.93%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.59%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Rome level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 22 2.97% $5,078
PENNYMAC LOAN SERVICES, LLC 20 2.51% $3,836
QUICKEN LOANS, LLC 20 2.46% $3,571
FREEDOM MORTGAGE CORPORATION 12 2.50% $2,279
NEW DAY FINANCIAL, LLC 10 2.83% $4,959
FIRST COMMUNITY MORTGAGE, INC. 8 2.73% $2,898
HOMESTAR FINANCIAL CORPORATION 7 2.79% $7,984
NAVY FEDERAL CREDIT UNION 6 2.50% $3,202
Mr. Cooper ( Nationstar Mortgage ) 5 3.25% $3,851
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 3.19% $3,309
FirstBank 4 3.09% $6,405
Wells Fargo Bank 4 2.47% $2,987
MUTUAL OF OMAHA MORTGAGE, INC. 3 2.63% $3,236
Barrington Bank & Trust Company, N.A. 3 2.76% $4,272
VILLAGE CAPITAL & INVESTMENT LLC 3 2.42% $3,386
BANKSOUTH MORTGAGE COMPANY, LLC 3 2.83% $9,057
Synovus Bank 3 2.58% $5,918
LAKEVIEW LOAN SERVICING, LLC 3 2.42% $2,096
LOANDEPOT.COM, LLC 3 3.29% $4,331
THE MORTGAGE FIRM, INC. 3 2.92% $4,917
ZILLOW HOME LOANS, LLC 2 2.69% $1,717
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 3.31% $3,212
Carrington Mortgage Services, LLC 2 3.44% $4,613
Low VA Rates, LLC 2 2.25% $2,739
Magnolia Bank 2 2.88% $11,364
MILEND, INC. 2 3.13% $15,867
Regions Bank 2 3.00% $13,932
SWBC MORTGAGE CORPORATION 2 3.00% $5,117
The Federal Savings Bank 2 2.63% $9,569
UNITED WHOLESALE MORTGAGE, LLC 2 2.63% $6,564
USAA Federal Savings Bank 2 3.44% $4,473
Mid-Continent Funding, Inc. 1 3.00% $2,252
AMERISAVE MORTGAGE CORPORATION 1 2.25% $6,752
GUARANTEED RATE, INC. 1 2.25% $5,186
MOVEMENT MORTGAGE, LLC 1 2.75% $11,700
First Guaranty Mortgage Corporation 1 2.75% $2,298
First Federal Bank, A FSB 1 3.00% $9,644
First Federal Bank 1 2.88% $6,052
EVERETT FINANCIAL, INC. 1 3.88% $2,455
NEWREZ LLC 1 2.38% $1,436
NP, Inc. 1 2.50% $3,441
DIRECT MORTGAGE LOANS, LLC 1 3.13% $5,212
PENTAGON FEDERAL CREDIT UNION 1 2.38% $1,985
PLANET HOME LENDING, LLC 1 2.63% $1,494
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.38% $3,019
Prosperity Home Mortgage, LLC 1 2.62% $3,140
CLEARPATH LENDING 1 2.38% $7,431
AMERICAN FINANCIAL NETWORK, INC. 1 2.25% $5,381
SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 3.75% $2,517
SOUTHPOINT FINANCIAL SERVICES, INC. 1 2.63% $692
South State Bank 1 2.88% $2,803
SUCCESS MORTGAGE PARTNERS, INC. 1 3.63% $1,447
VANDERBILT MORTGAGE AND FINANCE, INC. 1 3.25% $0
CERTAINTY HOME LOANS, LLC 1 2.88% $14,376
Ameris Bank 1 2.25% $22,138
BAY EQUITY LLC 1 2.25% $7,722
INSPIRE HOME LOANS INC. 1 3.25% $6,165
HOME POINT FINANCIAL CORPORATION 1 3.25% $6,840
LENDUS, LLC 1 2.63% $7,859
HANCOCK MORTGAGE PARTNERS, LLC 1 3.25% $2,468
UNION HOME MORTGAGE CORP. 1 2.75% $17,826
United Community Bank 1 2.75% $10,344
MEMBER FIRST MORTGAGE, LLC 1 3.25% $6,661
Meridian Bank Corporation 1 2.63% $2,661

The top Rome VA lender as defined by loan originations is Mortgage Research Center, LLC, with 22 VA loans originated. Their average total fees are $5,078, which is $1,242 higher than the next largest lender, PENNYMAC LOAN SERVICES, LLC.

The lowest fee Rome VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,279), QUICKEN LOANS, LLC ($3,571), PENNYMAC LOAN SERVICES, LLC ($3,836), NEW DAY FINANCIAL, LLC ($4,959) and Mortgage Research Center, LLC ($5,078).

The lowest rate Rome VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.46%), FREEDOM MORTGAGE CORPORATION (2.50%), PENNYMAC LOAN SERVICES, LLC (2.51%), NEW DAY FINANCIAL, LLC (2.83%) and Mortgage Research Center, LLC (2.97%).


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 $192,000 (28.0%) $244,307 (13.2%) 0.00 460
2018-02-01 $174,000 (16.1%) $228,900 (13.3%) 0.00 478
2018-03-01 $179,900 (20.4%) $232,799 (14.1%) 0.00 500
2018-04-01 $187,450 (20.9%) $250,223 (14.9%) 0.00 529
2018-05-01 $199,900 (25.4%) $261,049 (17.7%) 0.00 495
2018-06-01 $199,900 (19.4%) $267,214 (15.9%) 0.00 506
2018-07-01 $197,400 (16.2%) $262,163 (12.3%) 0.00 558
2018-08-01 $179,950 (1.7%) $253,906 (6.3%) 0.00 604
2018-09-01 $174,900 (-1.7%) $262,565 (9.0%) 0.00 577
2018-10-01 $169,950 (-5.5%) $252,859 (2.6%) 0.00 611
2018-11-01 $173,950 (-5.7%) $254,712 (5.3%) 0.00 617
2018-12-01 $170,000 (-8.1%) $255,459 (5.3%) 0.00 596
2019-01-01 $167,500 (-12.8%) $259,631 (6.3%) 0.00 538
2019-02-01 $172,400 (-0.9%) $272,421 (19.0%) 0.00 540
2019-03-01 $182,157 (1.3%) $279,452 (20.0%) 0.00 517
2019-04-01 $179,707 (-4.1%) $278,884 (11.5%) 0.00 544
2019-05-01 $194,400 (-2.8%) $286,704 (9.8%) 0.00 563
2019-06-01 $199,900 (0.0%) $278,533 (4.2%) 0.00 590
2019-07-01 $202,200 (2.4%) $276,773 (5.6%) 0.00 617
2019-08-01 $208,143 (15.7%) $273,855 (7.9%) 0.00 613
2019-09-01 $200,593 (14.7%) $267,866 (2.0%) 0.00 607
2019-10-01 $219,750 (29.3%) $283,031 (11.9%) 0.00 566
2019-11-01 $222,000 (27.6%) $287,033 (12.7%) 0.00 517
2019-12-01 $219,450 (29.1%) $284,709 (11.5%) 0.00 511
2020-01-01 $219,900 (31.3%) $279,794 (7.8%) 0.00 452
2020-02-01 $234,500 (36.0%) $287,726 (5.6%) 0.00 450
2020-03-01 $229,900 (26.2%) $276,473 (-1.1%) 0.00 440
2020-04-01 $217,450 (21.0%) $282,554 (1.3%) 0.00 439
2020-05-01 $239,500 (23.2%) $298,243 (4.0%) 0.00 413
2020-06-01 $239,900 (20.0%) $304,691 (9.4%) 0.00 375
2020-07-01 $242,200 (19.8%) $316,065 (14.2%) 0.00 344
2020-08-01 $249,900 (20.1%) $341,672 (24.8%) 0.00 314
2020-09-01 $235,750 (17.5%) $308,358 (15.1%) 0.00 328
2020-10-01 $219,900 (0.1%) $282,117 (-0.3%) 0.00 335
2020-11-01 $214,750 (-3.3%) $282,752 (-1.5%) 0.00 310
2020-12-01 $222,400 (1.3%) $279,836 (-1.7%) 0.00 283
2021-01-01 $225,000 (2.3%) $301,004 (7.6%) 0.00 235
2021-02-01 $229,900 (-2.0%) $314,730 (9.4%) 0.00 219
2021-03-01 $246,750 (7.3%) $323,188 (16.9%) 0.00 193
2021-04-01 $239,700 (10.2%) $312,213 (10.5%) 0.00 173
2021-05-01 $243,500 (1.7%) $327,680 (9.9%) 0.00 178
2021-06-01 $239,450 (-0.2%) $329,591 (8.2%) 0.00 230
2021-07-01 $239,450 (-1.1%) $324,857 (2.8%) 0.00 254
2021-08-01 $217,400 (-13.0%) $307,793 (-9.9%) 0.00 271
2021-09-01 $207,000 (-12.2%) $308,373 (0.0%) 0.00 243
2021-10-01 $208,000 (-5.4%) $308,731 (9.4%) 0.00 243
2021-11-01 $207,500 (-3.4%) $321,192 (13.6%) 0.00 224
2021-12-01 $229,900 (3.4%) $328,058 (17.2%) 0.00 199
2022-01-01 $240,000 (6.7%) $357,224 (18.7%) 0.00 158
2022-02-01 $244,950 (6.6%) $364,879 (15.9%) 0.00 160
2022-03-01 $239,900 (-2.8%) $354,026 (9.5%) 0.00 196
2022-04-01 $259,000 (8.1%) $348,170 (11.5%) 0.00 203
Rome's median listing price for 2022-04-01 was $259,000, a difference of $19,300 (8.1%) versus the prior year and $19,100 versus the prior month.

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

Rome's average listing price for 2022-04-01 was $348,170, a difference of $35,957 (11.5%) versus the prior year and $-5,856 versus the prior month.

For the 2022-04-01 period, Rome had 203 MLS listings, a difference of 7 listings (4%) versus the prior month and 30 listings (17%) 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 2,090 sqft
2018-02-01 0 days 2,000 sqft
2018-03-01 0 days 1,992 sqft
2018-04-01 0 days 2,026 sqft
2018-05-01 0 days 2,033 sqft
2018-06-01 0 days 2,101 sqft
2018-07-01 0 days 2,051 sqft
2018-08-01 0 days 1,958 sqft
2018-09-01 0 days 1,931 sqft
2018-10-01 0 days 1,924 sqft
2018-11-01 0 days 1,904 sqft
2018-12-01 0 days 1,901 sqft
2019-01-01 0 days 1,903 sqft
2019-02-01 0 days 1,872 sqft
2019-03-01 0 days 1,942 sqft
2019-04-01 0 days 2,003 sqft
2019-05-01 0 days 2,032 sqft
2019-06-01 0 days 2,144 sqft
2019-07-01 0 days 2,109 sqft
2019-08-01 0 days 2,033 sqft
2019-09-01 0 days 1,950 sqft
2019-10-01 0 days 1,980 sqft
2019-11-01 0 days 2,015 sqft
2019-12-01 0 days 2,015 sqft
2020-01-01 0 days 2,021 sqft
2020-02-01 0 days 2,038 sqft
2020-03-01 0 days 2,000 sqft
2020-04-01 0 days 1,976 sqft
2020-05-01 0 days 2,175 sqft
2020-06-01 0 days 2,219 sqft
2020-07-01 0 days 2,255 sqft
2020-08-01 0 days 2,297 sqft
2020-09-01 0 days 2,087 sqft
2020-10-01 0 days 1,844 sqft
2020-11-01 0 days 1,873 sqft
2020-12-01 0 days 1,712 sqft
2021-01-01 0 days 1,631 sqft
2021-02-01 0 days 1,721 sqft
2021-03-01 0 days 1,943 sqft
2021-04-01 0 days 1,870 sqft
2021-05-01 0 days 1,921 sqft
2021-06-01 0 days 1,712 sqft
2021-07-01 0 days 1,737 sqft
2021-08-01 0 days 1,686 sqft
2021-09-01 0 days 1,671 sqft
2021-10-01 0 days 1,670 sqft
2021-11-01 0 days 1,633 sqft
2021-12-01 0 days 1,705 sqft
2022-01-01 0 days 1,570 sqft
2022-02-01 0 days 1,700 sqft
2022-03-01 0 days 1,626 sqft
2022-04-01 0 days 1,742 sqft
Rome's median listing age (time on market) for 2022-04-01 was 0 days.

Rome's median square footage for active listings during the 2022-04-01 period was 1,742 sqft. One year prior, the average listing was 1,870 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.