Scottsboro VA Loan Rates, Closing Costs & Stats

Scottsboro, AL

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 2024-11-29, 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 (2024-11-22) was 6.54% and one month ago for the week of 2024-10-25, the average rate was 6.34%.

The average rate one year ago was 7.18%.

For refis of the same type during the week of 2024-11-29, 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.