Russellville VA Loan Rates, Closing Costs & Stats

Russellville, AR

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    • 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.

    Russellville's 34 lenders originated 93 VA loans during 2023. The total origination value was $20,455,000, with an average VA loan value of $219,946.

    Russellville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Russellville averaged 6.78% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Russellville's average VA mortgage closing costs are $4,474.

    The average rate for the prior week (2024-04-12) was 6.51% and one month ago for the week of 2024-03-15, the average rate was 6.68%.

    The average rate one year ago was 6.37%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Russellville 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 Russellville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 18 6.66% $4,710
    Arvest Bank 13 6.79% $5,749
    QUICKEN LOANS, LLC 8 6.04% $10,891
    CORNERSTONE HOME LENDING, INC. 6 6.81% $3,976
    NAVY FEDERAL CREDIT UNION 5 5.65% $3,415
    GMFS LLC 3 6.21% $6,136
    USAA Federal Savings Bank 3 6.42% $8,719
    UNION HOME MORTGAGE CORP. 2 6.06% $5,973
    Mid-Continent Funding, Inc. 2 6.13% $8,020
    CROSSCOUNTRY MORTGAGE, LLC 2 7.25% $7,463
    FirstTrust Home Loans, Inc. 2 6.94% $3,159
    LOANPAL, LLC 1 6.38% $11,331
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.75% $5,475
    NEW DAY FINANCIAL, LLC 1 6.88% $4,148
    Origin Bank 1 6.25% $56
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $2,579
    Simmons Bank 1 6.38% $2,378
    STOCKTON MORTGAGE CORPORATION 1 6.25% $7,923
    The Federal Savings Bank 1 5.75% $10,182
    United Fidelity Funding Corp. 1 5.38% $9,450
    UNITED WHOLESALE MORTGAGE, LLC 1 5.59% $32,302
    U.S. Bank 1 7.25% $1,277
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $7,442
    VERITAS FUNDING, LLC 1 7.13% $14,060
    Bank of England 1 6.25% $13,930
    CALCON MUTUAL MORTGAGE LLC 1 7.75% $735
    Carrington Mortgage Services, LLC 1 7.13% $8,976
    Centennial Bank 1 5.88% $8,077
    Eagle Bank and Trust Company 1 7.25% $7,160
    ENCORE BANK 1 6.75% $6,095
    FIRST COMMUNITY MORTGAGE, INC. 1 6.63% $2,952
    First Security Bank 1 7.00% $1,661
    GUARANTEED RATE, INC. 1 6.25% $0
    INTERLINC MORTGAGE SERVICES, LLC 1 6.75% $9,200

    The top Russellville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 18 VA loans originated. Their average total fees are $4,710, which is $1,039 lower than the next largest lender, Arvest Bank.

    The lowest fee Russellville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,710), Arvest Bank ($5,749), .

    The lowest rate Russellville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.66%), Arvest Bank (6.79%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Russellville (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 $129,900 (3.9%) $172,403 (6.3%) 0.00 295
    2018-02-01 $135,375 (6.3%) $172,726 (4.0%) 0.00 296
    2018-03-01 $142,500 (9.7%) $180,068 (7.6%) 0.00 307
    2018-04-01 $149,475 (15.1%) $190,498 (14.3%) 0.00 301
    2018-05-01 $153,900 (13.0%) $191,551 (10.3%) 0.00 295
    2018-06-01 $154,900 (10.7%) $192,754 (7.8%) 0.00 322
    2018-07-01 $158,613 (13.4%) $192,209 (8.7%) 0.00 343
    2018-08-01 $157,400 (10.5%) $192,141 (7.3%) 0.00 345
    2018-09-01 $154,990 (7.6%) $192,249 (6.6%) 0.00 337
    2018-10-01 $149,950 (2.2%) $191,123 (5.4%) 0.00 328
    2018-11-01 $149,925 (3.5%) $194,293 (6.6%) 0.00 320
    2018-12-01 $150,000 (11.5%) $191,915 (8.1%) 0.00 312
    2019-01-01 $144,450 (11.2%) $185,349 (7.5%) 0.00 304
    2019-02-01 $143,900 (6.3%) $184,064 (6.6%) 0.00 339
    2019-03-01 $145,693 (2.2%) $185,350 (2.9%) 0.00 360
    2019-04-01 $147,668 (-1.2%) $186,457 (-2.1%) 0.00 348
    2019-05-01 $144,950 (-5.8%) $184,120 (-3.9%) 0.00 327
    2019-06-01 $144,900 (-6.5%) $181,036 (-6.1%) 0.00 323
    2019-07-01 $147,700 (-6.9%) $185,548 (-3.5%) 0.00 318
    2019-08-01 $162,245 (3.1%) $191,520 (-0.3%) 0.00 318
    2019-09-01 $165,764 (7.0%) $195,977 (1.9%) 0.00 305
    2019-10-01 $168,109 (12.1%) $199,819 (4.6%) 0.00 295
    2019-11-01 $162,450 (8.4%) $199,130 (2.5%) 0.00 288
    2019-12-01 $164,075 (9.4%) $203,014 (5.8%) 0.00 282
    2020-01-01 $155,375 (7.6%) $202,033 (9.0%) 0.00 252
    2020-02-01 $158,700 (10.3%) $204,666 (11.2%) 0.00 235
    2020-03-01 $174,300 (19.6%) $211,618 (14.2%) 0.00 248
    2020-04-01 $176,425 (19.5%) $213,512 (14.5%) 0.00 253
    2020-05-01 $177,200 (22.3%) $215,167 (16.9%) 0.00 220
    2020-06-01 $174,850 (20.7%) $214,714 (18.6%) 0.00 207
    2020-07-01 $171,200 (15.9%) $220,355 (18.8%) 0.00 196
    2020-08-01 $184,950 (14.0%) $228,908 (19.5%) 0.00 194
    2020-09-01 $187,000 (12.8%) $235,121 (20.0%) 0.00 163
    2020-10-01 $189,900 (13.0%) $240,015 (20.1%) 0.00 152
    2020-11-01 $187,400 (15.4%) $239,134 (20.1%) 0.00 166
    2020-12-01 $189,400 (15.4%) $238,382 (17.4%) 0.00 153
    2021-01-01 $185,000 (19.1%) $238,484 (18.0%) 0.00 148
    2021-02-01 $190,900 (20.3%) $247,662 (21.0%) 0.00 82
    2021-03-01 $196,283 (12.6%) $265,051 (25.3%) 0.00 111
    2021-04-01 $212,750 (20.6%) $266,405 (24.8%) 0.00 106
    2021-05-01 $189,950 (7.2%) $258,145 (20.0%) 0.00 92
    2021-06-01 $195,775 (12.0%) $271,823 (26.6%) 0.00 95
    2021-07-01 $184,900 (8.0%) $266,556 (21.0%) 0.00 92
    2021-08-01 $170,700 (-7.7%) $247,904 (8.3%) 0.00 102
    2021-09-01 $191,169 (2.2%) $240,388 (2.2%) 0.00 124
    2021-10-01 $198,500 (4.5%) $246,545 (2.7%) 0.00 128
    2021-11-01 $220,438 (17.6%) $257,551 (7.7%) 0.00 113
    2021-12-01 $220,000 (16.2%) $249,705 (4.8%) 0.00 116
    2022-01-01 $204,900 (10.8%) $233,254 (-2.2%) 0.00 123
    2022-02-01 $204,825 (7.3%) $243,090 (-1.9%) 0.00 99
    2022-03-01 $197,200 (0.5%) $251,410 (-5.2%) 0.00 93
    2022-04-01 $199,900 (-6.0%) $265,396 (-0.4%) 0.00 93
    2022-05-01 $207,813 (9.4%) $273,250 (5.9%) 0.00 104
    2022-06-01 $219,900 (12.3%) $293,322 (7.9%) 0.00 121
    2022-07-01 $217,900 (17.9%) $281,599 (5.6%) 0.00 168
    2022-08-01 $223,500 (30.9%) $288,597 (16.4%) 0.00 163
    2022-09-01 $220,000 (15.1%) $275,128 (14.5%) 0.00 170
    2022-10-01 $235,000 (18.4%) $276,836 (12.3%) 0.00 173
    2022-11-01 $222,500 (0.9%) $261,114 (1.4%) 0.00 179
    2022-12-01 $215,000 (-2.3%) $258,294 (3.4%) 0.00 197
    2023-01-01 $210,000 (2.5%) $259,282 (11.2%) 0.00 166
    2023-02-01 $212,450 (3.7%) $267,907 (10.2%) 0.00 144
    2023-03-01 $209,950 (6.5%) $263,147 (4.7%) 0.00 140
    2023-04-01 $220,000 (10.1%) $292,379 (10.2%) 0.00 144
    2023-05-01 $229,450 (10.4%) $305,579 (11.8%) 0.00 144
    2023-06-01 $230,500 (4.8%) $307,747 (4.9%) 0.00 143
    2023-07-01 $249,900 (14.7%) $316,708 (12.5%) 0.00 158
    2023-08-01 $244,175 (9.3%) $323,104 (12.0%) 0.00 169
    2023-09-01 $249,900 (13.6%) $333,444 (21.2%) 0.00 196
    2023-10-01 $247,225 (5.2%) $331,652 (19.8%) 0.00 207
    2023-11-01 $249,500 (12.1%) $331,422 (26.9%) 0.00 198
    2023-12-01 $249,900 (16.2%) $328,336 (27.1%) 0.00 194
    2024-01-01 $252,450 (20.2%) $325,575 (25.6%) 0.00 190
    2024-02-01 $251,100 (18.2%) $326,993 (22.1%) 0.00 191
    2024-03-01 $252,250 (20.2%) $320,159 (21.7%) 0.00 185
    Russellville's median listing price for 2024-03-01 was $252,250, a difference of $42,300 (20.2%) versus the prior year and $1,150 versus the prior month.

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

    Russellville's average listing price for 2024-03-01 was $320,159, a difference of $57,012 (21.7%) versus the prior year and $-6,834 versus the prior month.

    For the 2024-03-01 period, Russellville had 185 MLS listings, a difference of -6 listings (-3%) versus the prior month and 45 listings (32%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Russellville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,697 sqft
    2018-02-01 0 days 1,733 sqft
    2018-03-01 0 days 1,756 sqft
    2018-04-01 0 days 1,800 sqft
    2018-05-01 0 days 1,841 sqft
    2018-06-01 0 days 1,886 sqft
    2018-07-01 0 days 1,866 sqft
    2018-08-01 0 days 1,839 sqft
    2018-09-01 0 days 1,809 sqft
    2018-10-01 0 days 1,806 sqft
    2018-11-01 0 days 1,811 sqft
    2018-12-01 0 days 1,802 sqft
    2019-01-01 0 days 1,737 sqft
    2019-02-01 0 days 1,693 sqft
    2019-03-01 0 days 1,735 sqft
    2019-04-01 0 days 1,788 sqft
    2019-05-01 0 days 1,691 sqft
    2019-06-01 0 days 1,726 sqft
    2019-07-01 0 days 1,760 sqft
    2019-08-01 0 days 1,788 sqft
    2019-09-01 0 days 1,777 sqft
    2019-10-01 0 days 1,771 sqft
    2019-11-01 0 days 1,792 sqft
    2019-12-01 0 days 1,800 sqft
    2020-01-01 0 days 1,771 sqft
    2020-02-01 0 days 1,832 sqft
    2020-03-01 0 days 1,848 sqft
    2020-04-01 0 days 1,854 sqft
    2020-05-01 0 days 1,828 sqft
    2020-06-01 0 days 1,824 sqft
    2020-07-01 0 days 1,811 sqft
    2020-08-01 0 days 1,874 sqft
    2020-09-01 0 days 1,960 sqft
    2020-10-01 0 days 1,843 sqft
    2020-11-01 0 days 1,833 sqft
    2020-12-01 0 days 1,903 sqft
    2021-01-01 0 days 1,840 sqft
    2021-02-01 0 days 1,864 sqft
    2021-03-01 0 days 1,964 sqft
    2021-04-01 0 days 2,107 sqft
    2021-05-01 0 days 1,944 sqft
    2021-06-01 0 days 1,937 sqft
    2021-07-01 0 days 1,784 sqft
    2021-08-01 0 days 1,651 sqft
    2021-09-01 0 days 1,593 sqft
    2021-10-01 0 days 1,698 sqft
    2021-11-01 0 days 1,836 sqft
    2021-12-01 0 days 1,902 sqft
    2022-01-01 0 days 1,787 sqft
    2022-02-01 0 days 1,732 sqft
    2022-03-01 0 days 1,695 sqft
    2022-04-01 0 days 1,781 sqft
    2022-05-01 0 days 1,884 sqft
    2022-06-01 0 days 1,883 sqft
    2022-07-01 0 days 1,840 sqft
    2022-08-01 0 days 1,846 sqft
    2022-09-01 0 days 1,785 sqft
    2022-10-01 0 days 1,829 sqft
    2022-11-01 0 days 1,808 sqft
    2022-12-01 0 days 1,779 sqft
    2023-01-01 0 days 1,753 sqft
    2023-02-01 0 days 1,719 sqft
    2023-03-01 0 days 1,703 sqft
    2023-04-01 0 days 1,786 sqft
    2023-05-01 0 days 1,800 sqft
    2023-06-01 0 days 1,795 sqft
    2023-07-01 0 days 1,800 sqft
    2023-08-01 0 days 1,822 sqft
    2023-09-01 0 days 1,856 sqft
    2023-10-01 0 days 1,901 sqft
    2023-11-01 0 days 1,917 sqft
    2023-12-01 0 days 1,914 sqft
    2024-01-01 0 days 1,911 sqft
    2024-02-01 0 days 1,940 sqft
    2024-03-01 0 days 1,932 sqft
    Russellville's median listing age (time on market) for 2024-03-01 was 0 days.

    Russellville's median square footage for active listings during the 2024-03-01 period was 1,932 sqft. One year prior, the average listing was 1,703 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.