Scottsboro VA Loan Rates, Closing Costs & Stats

Scottsboro, AL

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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.

    Scottsboro's 26 lenders originated 61 VA loans during 2023. The total origination value was $19,145,000, with an average VA loan value of $313,852.

    Scottsboro VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Scottsboro averaged 0.37% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Scottsboro's average VA mortgage closing costs are $5,703.

    The average rate for the prior week (2024-11-08) was 6.68% and one month ago for the week of 2024-10-11, the average rate was 6.15%.

    The average rate one year ago was 7.24%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.2%.

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

    Scottsboro 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 Scottsboro level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 14 6.47% $4,725
    QUICKEN LOANS, LLC 6 6.24% $14,098
    UNITED WHOLESALE MORTGAGE, LLC 5 6.69% $11,418
    MOVEMENT MORTGAGE, LLC 4 6.47% $4,598
    USAA Federal Savings Bank 2 6.63% $13,279
    CROSSCOUNTRY MORTGAGE, LLC 2 6.25% $3,971
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.44% $12,494
    FirstBank 2 6.06% $10,812
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.81% $30
    PENNYMAC LOAN SERVICES, LLC 2 5.13% $7,633
    REDSTONE Federal Credit Union 2 6.13% $6,212
    TJC Mortgage, Inc. 2 6.63% $18,773
    BNC National Bank 1 5.25% $3,428
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $3,635
    Barrington Bank & Trust Company, N.A. 1 6.25% $5,585
    NAVY FEDERAL CREDIT UNION 1 7.13% $4,602
    NEW DAY FINANCIAL, LLC 1 7.38% $11,623
    UNION HOME MORTGAGE CORP. 1 7.25% $7,713
    BancorpSouth 1 6.63% $37,003
    COMMUNITY MORTGAGE CORPORATION 1 6.75% $10,484
    Consumer First Mortgage, Inc. 1 7.75% $5,648
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.25% $7,830
    SUMMIT FUNDING, INC. 1 5.63% $15,379
    SWBC MORTGAGE CORPORATION 1 6.75% $1,377
    GMFS LLC 1 6.99% $10,319
    GUARANTEED RATE, INC. 1 5.50% $6,129

    The top Scottsboro VA lender as defined by loan originations is Mortgage Research Center, LLC, with 14 VA loans originated. Their average total fees are $4,725, which is $9,374 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Scottsboro VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,725), .

    The lowest rate Scottsboro VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.47%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Scottsboro (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 $169,450 (-1.2%) $227,726 (-2.4%) 0.00 193
    2018-02-01 $168,925 (-6.1%) $234,598 (0.4%) 0.00 190
    2018-03-01 $172,400 (-9.1%) $256,181 (7.0%) 0.00 185
    2018-04-01 $179,000 (-8.4%) $266,127 (8.4%) 0.00 191
    2018-05-01 $189,900 (-4.9%) $274,297 (12.1%) 0.00 183
    2018-06-01 $189,900 (0.0%) $280,582 (18.8%) 0.00 200
    2018-07-01 $189,150 (-0.4%) $267,302 (13.1%) 0.00 193
    2018-08-01 $182,250 (1.5%) $256,413 (10.6%) 0.00 193
    2018-09-01 $186,900 (6.8%) $259,511 (14.0%) 0.00 196
    2018-10-01 $182,900 (7.7%) $250,495 (11.4%) 0.00 202
    2018-11-01 $178,650 (5.2%) $251,269 (13.0%) 0.00 189
    2018-12-01 $169,000 (-0.5%) $247,609 (8.4%) 0.00 174
    2019-01-01 $169,000 (-0.3%) $248,061 (8.9%) 0.00 168
    2019-02-01 $167,000 (-1.1%) $257,613 (9.8%) 0.00 167
    2019-03-01 $167,100 (-3.1%) $266,600 (4.1%) 0.00 158
    2019-04-01 $169,900 (-5.1%) $274,375 (3.1%) 0.00 161
    2019-05-01 $174,425 (-8.2%) $276,266 (0.7%) 0.00 163
    2019-06-01 $179,900 (-5.3%) $279,765 (-0.3%) 0.00 170
    2019-07-01 $179,900 (-4.9%) $282,641 (5.7%) 0.00 166
    2019-08-01 $185,777 (1.9%) $286,084 (11.6%) 0.00 153
    2019-09-01 $194,593 (4.1%) $289,500 (11.6%) 0.00 158
    2019-10-01 $205,675 (12.5%) $295,227 (17.9%) 0.00 160
    2019-11-01 $199,900 (11.9%) $298,686 (18.9%) 0.00 159
    2019-12-01 $189,900 (12.4%) $299,242 (20.9%) 0.00 152
    2020-01-01 $183,600 (8.6%) $304,503 (22.8%) 0.00 145
    2020-02-01 $188,450 (12.8%) $298,548 (15.9%) 0.00 133
    2020-03-01 $194,675 (16.5%) $308,559 (15.7%) 0.00 131
    2020-04-01 $204,900 (20.6%) $310,918 (13.3%) 0.00 120
    2020-05-01 $224,900 (28.9%) $320,141 (15.9%) 0.00 110
    2020-06-01 $224,950 (25.0%) $318,711 (13.9%) 0.00 101
    2020-07-01 $222,450 (23.7%) $327,254 (15.8%) 0.00 102
    2020-08-01 $275,500 (48.3%) $370,799 (29.6%) 0.00 88
    2020-09-01 $247,675 (27.3%) $348,674 (20.4%) 0.00 85
    2020-10-01 $239,900 (16.6%) $338,804 (14.8%) 0.00 86
    2020-11-01 $239,900 (20.0%) $347,896 (16.5%) 0.00 82
    2020-12-01 $201,375 (6.0%) $327,660 (9.5%) 0.00 80
    2021-01-01 $209,000 (13.8%) $317,031 (4.1%) 0.00 71
    2021-02-01 $209,925 (11.4%) $337,926 (13.2%) 0.00 62
    2021-03-01 $209,900 (7.8%) $312,938 (1.4%) 0.00 59
    2021-04-01 $199,900 (-2.4%) $315,378 (1.4%) 0.00 51
    2021-05-01 $194,450 (-13.5%) $334,448 (4.5%) 0.00 51
    2021-06-01 $202,500 (-10.0%) $327,366 (2.7%) 0.00 67
    2021-07-01 $279,900 (25.8%) $371,952 (13.7%) 0.00 71
    2021-08-01 $299,000 (8.5%) $372,534 (0.5%) 0.00 73
    2021-09-01 $255,175 (3.0%) $345,791 (-0.8%) 0.00 76
    2021-10-01 $234,000 (-2.5%) $378,837 (11.8%) 0.00 82
    2021-11-01 $262,900 (9.6%) $459,586 (32.1%) 0.00 76
    2021-12-01 $254,925 (26.6%) $451,069 (37.7%) 0.00 81
    2022-01-01 $271,700 (30.0%) $496,097 (56.5%) 0.00 58
    2022-02-01 $284,900 (35.7%) $542,622 (60.6%) 0.00 58
    2022-03-01 $339,450 (61.7%) $593,785 (89.8%) 0.00 58
    2022-04-01 $289,250 (44.7%) $534,874 (69.6%) 0.00 56
    2022-05-01 $282,000 (45.0%) $409,656 (22.5%) 0.00 62
    2022-06-01 $272,725 (34.7%) $352,329 (7.6%) 0.00 80
    2022-07-01 $285,000 (1.8%) $380,650 (2.3%) 0.00 81
    2022-08-01 $257,450 (-13.9%) $373,717 (0.3%) 0.00 93
    2022-09-01 $272,450 (6.8%) $393,415 (13.8%) 0.00 100
    2022-10-01 $297,000 (26.9%) $414,678 (9.5%) 0.00 107
    2022-11-01 $272,900 (3.8%) $391,027 (-14.9%) 0.00 113
    2022-12-01 $266,750 (4.6%) $379,289 (-15.9%) 0.00 101
    2023-01-01 $272,000 (0.1%) $370,458 (-25.3%) 0.00 88
    2023-02-01 $289,900 (1.8%) $392,845 (-27.6%) 0.00 80
    2023-03-01 $279,500 (-17.7%) $395,158 (-33.5%) 0.00 80
    2023-04-01 $274,900 (-5.0%) $370,460 (-30.7%) 0.00 75
    2023-05-01 $273,500 (-3.0%) $385,851 (-5.8%) 0.00 74
    2023-06-01 $264,913 (-2.9%) $379,099 (7.6%) 0.00 77
    2023-07-01 $299,800 (5.2%) $422,823 (11.1%) 0.00 93
    2023-08-01 $276,725 (7.5%) $395,176 (5.7%) 0.00 103
    2023-09-01 $287,400 (5.5%) $401,562 (2.1%) 0.00 101
    2023-10-01 $289,500 (-2.5%) $398,898 (-3.8%) 0.00 105
    2023-11-01 $298,725 (9.5%) $387,960 (-0.8%) 0.00 104
    2023-12-01 $308,750 (15.8%) $403,467 (6.4%) 0.00 105
    2024-01-01 $299,000 (9.9%) $401,276 (8.3%) 0.00 92
    2024-02-01 $307,175 (6.0%) $394,061 (0.3%) 0.00 91
    2024-03-01 $299,200 (7.1%) $388,021 (-1.8%) 0.00 94
    2024-04-01 $299,675 (9.0%) $410,879 (10.9%) 0.00 102
    2024-05-01 $295,925 (8.2%) $422,341 (9.5%) 0.00 110
    2024-06-01 $296,950 (12.1%) $433,915 (14.5%) 0.00 112
    2024-07-01 $294,855 (-1.7%) $442,284 (4.6%) 0.00 120
    2024-08-01 $325,000 (17.5%) $473,891 (19.9%) 0.00 126
    2024-09-01 $318,750 (10.9%) $434,745 (8.3%) 0.00 122
    2024-10-01 $299,925 (3.6%) $431,687 (8.2%) 0.00 122
    Scottsboro's median listing price for 2024-10-01 was $299,925, a difference of $10,425 (3.6%) versus the prior year and $-18,825 versus the prior month.

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

    Scottsboro's average listing price for 2024-10-01 was $431,687, a difference of $32,789 (8.2%) versus the prior year and $-3,058 versus the prior month.

    For the 2024-10-01 period, Scottsboro had 122 MLS listings, a difference of 0 listings (0%) versus the prior month and 17 listings (16%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Scottsboro (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,988 sqft
    2018-02-01 0 days 1,951 sqft
    2018-03-01 0 days 2,037 sqft
    2018-04-01 0 days 2,054 sqft
    2018-05-01 0 days 2,103 sqft
    2018-06-01 0 days 2,200 sqft
    2018-07-01 0 days 2,096 sqft
    2018-08-01 0 days 2,065 sqft
    2018-09-01 0 days 2,091 sqft
    2018-10-01 0 days 2,025 sqft
    2018-11-01 0 days 2,059 sqft
    2018-12-01 0 days 2,000 sqft
    2019-01-01 0 days 1,991 sqft
    2019-02-01 0 days 1,943 sqft
    2019-03-01 0 days 1,958 sqft
    2019-04-01 0 days 1,995 sqft
    2019-05-01 0 days 1,975 sqft
    2019-06-01 0 days 1,966 sqft
    2019-07-01 0 days 1,931 sqft
    2019-08-01 0 days 2,007 sqft
    2019-09-01 0 days 2,104 sqft
    2019-10-01 0 days 2,185 sqft
    2019-11-01 0 days 2,100 sqft
    2019-12-01 0 days 2,059 sqft
    2020-01-01 0 days 2,050 sqft
    2020-02-01 0 days 2,077 sqft
    2020-03-01 0 days 2,087 sqft
    2020-04-01 0 days 2,093 sqft
    2020-05-01 0 days 2,126 sqft
    2020-06-01 0 days 2,094 sqft
    2020-07-01 0 days 2,100 sqft
    2020-08-01 0 days 2,203 sqft
    2020-09-01 0 days 2,214 sqft
    2020-10-01 0 days 2,214 sqft
    2020-11-01 0 days 2,232 sqft
    2020-12-01 0 days 2,100 sqft
    2021-01-01 0 days 1,940 sqft
    2021-02-01 0 days 2,098 sqft
    2021-03-01 0 days 2,058 sqft
    2021-04-01 0 days 2,100 sqft
    2021-05-01 0 days 2,096 sqft
    2021-06-01 0 days 2,000 sqft
    2021-07-01 0 days 2,016 sqft
    2021-08-01 0 days 2,212 sqft
    2021-09-01 0 days 2,035 sqft
    2021-10-01 0 days 2,045 sqft
    2021-11-01 0 days 2,187 sqft
    2021-12-01 0 days 2,142 sqft
    2022-01-01 0 days 2,200 sqft
    2022-02-01 0 days 2,225 sqft
    2022-03-01 0 days 2,175 sqft
    2022-04-01 0 days 2,029 sqft
    2022-05-01 0 days 2,146 sqft
    2022-06-01 0 days 2,050 sqft
    2022-07-01 0 days 2,117 sqft
    2022-08-01 0 days 2,107 sqft
    2022-09-01 0 days 2,076 sqft
    2022-10-01 0 days 2,163 sqft
    2022-11-01 0 days 2,052 sqft
    2022-12-01 0 days 1,920 sqft
    2023-01-01 0 days 2,051 sqft
    2023-02-01 0 days 2,093 sqft
    2023-03-01 0 days 2,053 sqft
    2023-04-01 0 days 2,016 sqft
    2023-05-01 0 days 2,071 sqft
    2023-06-01 0 days 2,074 sqft
    2023-07-01 0 days 2,095 sqft
    2023-08-01 0 days 1,956 sqft
    2023-09-01 0 days 1,934 sqft
    2023-10-01 0 days 1,904 sqft
    2023-11-01 0 days 1,907 sqft
    2023-12-01 0 days 2,010 sqft
    2024-01-01 0 days 1,980 sqft
    2024-02-01 0 days 2,050 sqft
    2024-03-01 0 days 1,991 sqft
    2024-04-01 0 days 1,950 sqft
    2024-05-01 0 days 2,023 sqft
    2024-06-01 0 days 2,088 sqft
    2024-07-01 0 days 2,208 sqft
    2024-08-01 0 days 2,250 sqft
    2024-09-01 0 days 2,186 sqft
    2024-10-01 0 days 2,091 sqft
    Scottsboro's median listing age (time on market) for 2024-10-01 was 0 days.

    Scottsboro's median square footage for active listings during the 2024-10-01 period was 2,091 sqft. One year prior, the average listing was 1,904 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.