Tallahassee VA Loan Rates, Closing Costs & Stats

TALLAHASSEE, FL

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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.

    Tallahassee's 122 lenders originated 1,226 VA loans during 2021. The total origination value was $318,050,000, with an average VA loan value of $259,421.

    Tallahassee VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Tallahassee averaged 6.56% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

    Tallahassee's average VA mortgage closing costs are $5,658.

    The average rate for the prior week (2022-11-25) was 6.69% and one month ago for the week of 2022-10-28, the average rate was 6.98%.

    The average rate one year ago was 3.66%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.35%.

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

    Tallahassee 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 Tallahassee level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    QUICKEN LOANS, LLC 125 2.51% $4,853
    Mortgage Research Center, LLC 123 2.93% $5,753
    LOANDEPOT.COM, LLC 68 2.77% $7,841
    FREEDOM MORTGAGE CORPORATION 61 2.50% $2,422
    UNIVERSITY LENDING GROUP, LLC 61 2.92% $7,282
    PENNYMAC LOAN SERVICES, LLC 54 2.53% $4,916
    USAA Federal Savings Bank 37 2.84% $7,272
    MOVEMENT MORTGAGE, LLC 35 3.05% $7,939
    NAVY FEDERAL CREDIT UNION 34 2.44% $7,575
    NEW DAY FINANCIAL, LLC 30 2.92% $8,227
    VILLAGE CAPITAL MORTGAGE 26 2.41% $3,196
    BAY CAPITAL MORTGAGE CORPORATION 21 2.48% $8,682
    GMFS LLC 19 2.40% $6,633
    AMERIFIRST FINANCIAL CORPORATION 19 3.43% $6,174
    CALIBER HOME LOANS, INC. 18 2.54% $3,660
    Mr. Cooper ( Nationstar Mortgage ) 18 2.97% $3,732
    UNITED WHOLESALE MORTGAGE, LLC 17 2.65% $5,761
    LAKEVIEW LOAN SERVICING, LLC 16 2.54% $2,751
    Ameris Bank 15 2.75% $5,821
    Capital City Home Loans, LLC 14 2.62% $8,246
    PENTAGON FEDERAL CREDIT UNION 12 2.41% $4,601
    Wells Fargo Bank 11 2.59% $3,817
    HOME POINT FINANCIAL CORPORATION 10 2.65% $4,845
    CLEARPATH LENDING 10 2.38% $4,387
    GUARANTEED RATE, INC. 9 2.68% $6,338
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 9 2.93% $7,773
    NEWREZ LLC 8 2.78% $4,813
    First Federal Bank 8 3.77% $3,776
    Truist 8 2.64% $3,895
    The Federal Savings Bank 8 2.41% $8,638
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 7 2.95% $6,154
    Lakeview Community Capital, LLC 6 2.44% $2,518
    AMERISAVE MORTGAGE CORPORATION 6 2.33% $4,245
    BROKER SOLUTIONS, INC. 6 2.93% $4,797
    CROSSCOUNTRY MORTGAGE, LLC 6 2.58% $6,335
    Centennial Bank 6 2.79% $7,361
    AMERICAN FINANCING CORPORATION 5 3.05% $4,698
    InterContinental Capital Group, Inc 5 2.45% $3,468
    Mid-Continent Funding, Inc. 4 2.69% $5,338
    MUTUAL OF OMAHA MORTGAGE, INC. 4 2.66% $5,620
    FIRST FLORIDA Credit Union 4 3.16% $6,157
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 2.84% $4,010
    NBKC BANK 4 2.50% $4,175
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 3.04% $3,692
    First Guaranty Mortgage Corporation 3 2.46% $4,006
    SUN WEST MORTGAGE COMPANY, INC. 3 2.25% $3,291
    SOVEREIGN LENDING GROUP INCORPORATED 3 2.92% $5,568
    The Huntington National Bank 3 2.92% $7,554
    TOWNE MORTGAGE COMPANY 3 2.75% $5,656
    Equity Prime Mortgage LLC 3 3.63% $8,981
    DELMAR FINANCIAL COMPANY 3 3.50% $5,164
    PLAZA HOME MORTGAGE, INC. 3 2.58% $10,889
    CityWorth Mortgage LLC 3 3.00% $3,246
    Carrington Mortgage Services, LLC 3 4.13% $2,822
    North American Savings Bank, F.S.B. 3 2.25% $7,848
    GUILD MORTGAGE COMPANY 2 2.81% $8,804
    VAN DYK MORTGAGE CORPORATION 2 2.81% $3,452
    AMERICAN FINANCIAL RESOURCES, INC. 2 2.88% $830
    AmeriHome Mortgage Company, LLC 2 2.63% $2,650
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 3.25% $2,908
    Colonial Savings, F.A. 2 3.38% $3,565
    Low VA Rates, LLC 2 2.69% $3,761
    Magnolia Bank 2 2.56% $4,121
    UNION HOME MORTGAGE CORP. 2 2.38% $7,918
    Tyndall Federal Credit Union 2 2.81% $5,514
    SOUTHWEST STAGE FUNDING, LLC 2 3.13% $2,113
    AMERICAN FINANCIAL NETWORK, INC. 2 2.75% $10,320
    Bank of England 2 3.25% $11,669
    CHURCHILL MORTGAGE CORPORATION 2 2.63% $8,898
    Barrington Bank & Trust Company, N.A. 2 3.13% $8,513
    PREMIER LENDING, INC. 2 2.94% $13,645
    Wyndham Capital Mortgage, Inc. 1 3.13% $18,481
    Advisors Mortgage Group, L.L.C. 1 2.50% $4,020
    Alpha Mortgage Corporation 1 2.75% $5,647
    AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 3.25% $17,339
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.25% $1,941
    Austin Capital Bank SSB 1 2.63% $4,459
    BANKSOUTH MORTGAGE COMPANY, LLC 1 2.25% $2,609
    Christensen Financial, Inc. 1 2.75% $10,172
    Colony Bank 1 2.63% $1,774
    Commerce Home Mortgage, Inc. 1 2.75% $3,049
    CONTOUR MORTGAGE CORPORATION 1 2.25% $3,010
    Credence Funding Corporation 1 2.25% $1,515
    EMBRACE HOME LOANS, INC. 1 2.75% $15,909
    FBC MORTGAGE, LLC 1 2.88% $11,068
    Financial Freedom Mortgage, LLC 1 3.38% $20,664
    Flagstar Bank, FSB 1 3.13% $10,588
    Great Southern Bank 1 2.75% $1,266
    Hancock Whitney Bank 1 2.50% $4,008
    HOMESTAR FINANCIAL CORPORATION 1 2.88% $11,546
    Integrity Home Mortgage Corp 1 2.75% $24,527
    Ixonia Bank 1 2.75% $14,165
    LOANPAL, LLC 1 4.13% $19,125
    MORIA DEVELOPMENT, INC. 1 3.75% $3,642
    Mortgage Lenders Investment Trading Corporation 1 2.75% $6,976
    M&T Bank 1 4.00% $3,954
    NATIONS DIRECT MORTGAGE, LLC 1 2.75% $9,257
    NETWORK CAPITAL FUNDING CORPORATION 1 3.75% $5,788
    NORTHPOINT MORTGAGE, INC. 1 2.88% $4,383
    NTFN, INC. 1 2.25% $5,022
    ON Q FINANCIAL, INC. 1 2.88% $14,298
    ON TAP 1 3.00% $11,599
    PANORAMA MORTGAGE GROUP, LLC 1 3.75% $9,360
    Paramount Bank 1 2.63% $1,564
    Paramount Residential Mortgage Group, Inc. 1 3.38% $20,664
    PLANET HOME LENDING, LLC 1 2.25% $2,588
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.25% $5,917
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.25% $2,961
    RANLIFE, INC. 1 3.75% $6,683
    RESIDENTIAL HOME FUNDING CORP. 1 2.75% $4,591
    RESOURCE FINANCIAL SERVICES, INC. 1 2.75% $3,888
    SIRVA MORTGAGE, INC. 1 2.75% $3,495
    South State Bank 1 3.50% $17,445
    STEARNS LENDING, LLC 1 3.25% $2,485
    Stride Bank 1 3.00% $4,114
    Strong Home Mortgage, LLC 1 2.25% $3,005
    Sunflower Bank 1 2.25% $16,915
    Synovus Bank 1 2.50% $2,138
    TOTAL MORTGAGE SERVICES, LLC 1 2.25% $13,450
    U.S. Bank 1 2.63% $7,928
    VYSTAR 1 3.00% $1,757
    ACCELERATE MORTGAGE, LLC 1 2.25% $2,923

    The top Tallahassee VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 125 VA loans originated. Their average total fees are $4,853, which is $900 lower than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Tallahassee VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,422), LAKEVIEW LOAN SERVICING, LLC ($2,751), VILLAGE CAPITAL MORTGAGE ($3,196), CALIBER HOME LOANS, INC. ($3,660) and Mr. Cooper ( Nationstar Mortgage ) ($3,732).

    The lowest rate Tallahassee VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.38%), GMFS LLC (2.40%), PENTAGON FEDERAL CREDIT UNION (2.41%), VILLAGE CAPITAL MORTGAGE (2.41%) and NAVY FEDERAL CREDIT UNION (2.44%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Tallahassee (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 $219,900 (15.8%) $295,037 (9.1%) 0.82 1,136
    2018-02-01 $220,000 (12.9%) $296,648 (11.4%) 0.80 1,150
    2018-03-01 $224,950 (12.5%) $300,808 (11.8%) 0.79 1,207
    2018-04-01 $224,075 (12.0%) $300,255 (9.9%) 0.76 1,285
    2018-05-01 $226,200 (11.7%) $303,272 (8.7%) 0.76 1,326
    2018-06-01 $233,900 (13.1%) $305,864 (8.4%) 0.78 1,347
    2018-07-01 $235,000 (11.9%) $301,841 (6.6%) 0.78 1,376
    2018-08-01 $229,500 (9.3%) $298,105 (5.2%) 0.77 1,433
    2018-09-01 $224,000 (5.8%) $294,076 (2.0%) 0.75 1,414
    2018-10-01 $222,780 (0.5%) $288,905 (-1.2%) 0.75 1,364
    2018-11-01 $224,340 (2.0%) $289,397 (-2.1%) 0.76 1,331
    2018-12-01 $223,780 (1.8%) $288,160 (-2.0%) 0.77 1,285
    2019-01-01 $225,000 (2.3%) $292,644 (-0.8%) 0.78 1,195
    2019-02-01 $231,125 (5.1%) $291,860 (-1.6%) 0.78 1,197
    2019-03-01 $235,000 (4.5%) $287,226 (-4.5%) 0.77 1,472
    2019-04-01 $234,975 (4.9%) $282,640 (-5.9%) 0.75 1,854
    2019-05-01 $232,600 (2.8%) $284,484 (-6.2%) 0.73 1,896
    2019-06-01 $238,360 (1.9%) $291,482 (-4.7%) 0.74 1,873
    2019-07-01 $239,800 (2.0%) $291,962 (-3.3%) 0.75 1,895
    2019-08-01 $239,900 (4.5%) $288,260 (-3.3%) 0.76 1,866
    2019-09-01 $239,900 (7.1%) $286,260 (-2.7%) 0.77 1,789
    2019-10-01 $239,675 (7.6%) $284,512 (-1.5%) 0.77 1,722
    2019-11-01 $235,000 (4.8%) $282,305 (-2.5%) 0.77 1,618
    2019-12-01 $229,675 (2.6%) $278,167 (-3.5%) 0.77 1,463
    2020-01-01 $232,590 (3.4%) $279,526 (-4.5%) 0.78 1,432
    2020-02-01 $235,400 (1.9%) $282,700 (-3.1%) 0.77 1,575
    2020-03-01 $240,000 (2.1%) $287,800 (0.2%) 0.75 1,660
    2020-04-01 $240,000 (2.1%) $287,968 (1.9%) 0.75 1,667
    2020-05-01 $241,000 (3.6%) $293,761 (3.3%) 0.73 1,663
    2020-06-01 $240,875 (1.1%) $290,290 (-0.4%) 0.71 1,704
    2020-07-01 $245,500 (2.4%) $290,777 (-0.4%) 0.71 1,673
    2020-08-01 $248,200 (3.5%) $295,329 (2.5%) 0.71 1,592
    2020-09-01 $249,900 (4.2%) $300,333 (4.9%) 0.72 1,559
    2020-10-01 $249,900 (4.3%) $301,140 (5.8%) 0.72 1,495
    2020-11-01 $242,250 (3.1%) $299,789 (6.2%) 0.71 1,442
    2020-12-01 $237,000 (3.2%) $299,970 (7.8%) 0.70 1,316
    2021-01-01 $239,900 (3.1%) $295,747 (5.8%) 0.72 1,229
    2021-02-01 $249,450 (6.0%) $299,191 (5.8%) 0.73 1,271
    2021-03-01 $250,000 (4.2%) $301,200 (4.7%) 0.71 1,335
    2021-04-01 $252,750 (5.3%) $301,094 (4.6%) 0.68 1,385
    2021-05-01 $259,900 (7.8%) $303,417 (3.3%) 0.69 1,427
    2021-06-01 $260,500 (8.2%) $307,775 (6.0%) 0.69 1,446
    2021-07-01 $260,000 (5.9%) $306,671 (5.5%) 0.68 1,458
    2021-08-01 $265,000 (6.8%) $309,962 (5.0%) 0.71 1,465
    2021-09-01 $268,975 (7.6%) $312,073 (3.9%) 0.72 1,486
    2021-10-01 $269,900 (8.0%) $316,172 (5.0%) 0.72 1,448
    2021-11-01 $273,750 (13.0%) $320,378 (6.9%) 0.73 1,362
    2021-12-01 $277,450 (17.1%) $323,406 (7.8%) 0.75 1,216
    2022-01-01 $289,000 (20.5%) $334,111 (13.0%) 0.78 1,009
    2022-02-01 $294,975 (18.3%) $340,144 (13.7%) 0.77 1,078
    2022-03-01 $289,900 (16.0%) $344,945 (14.5%) 0.73 1,065
    2022-04-01 $287,500 (13.8%) $344,527 (14.4%) 0.69 1,129
    2022-05-01 $293,339 (12.9%) $351,868 (16.0%) 0.67 1,240
    2022-06-01 $299,450 (15.0%) $363,965 (18.3%) 0.67 1,280
    2022-07-01 $310,000 (19.2%) $375,135 (22.3%) 0.70 1,297
    2022-08-01 $300,000 (13.2%) $372,790 (20.3%) 0.69 1,267
    2022-09-01 $307,950 (14.5%) $372,100 (19.2%) 0.72 1,169
    2022-10-01 $318,000 (17.8%) $379,980 (20.2%) 0.75 1,156
    2022-11-01 $319,950 (16.9%) $383,608 (19.7%) 0.77 1,158
    Tallahassee's median listing price for 2022-11-01 was $319,950, a difference of $46,200 (16.9%) versus the prior year and $1,950 versus the prior month.

    Tallahassee's median listing price comes in at 77% of the national average.

    Tallahassee's average listing price for 2022-11-01 was $383,608, a difference of $63,230 (19.7%) versus the prior year and $3,628 versus the prior month.

    For the 2022-11-01 period, Tallahassee had 1,158 MLS listings, a difference of 2 listings (0%) versus the prior month and -204 listings (-15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Tallahassee (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 82 days 1,700 sqft
    2018-02-01 74 days 1,694 sqft
    2018-03-01 58 days 1,714 sqft
    2018-04-01 54 days 1,709 sqft
    2018-05-01 54 days 1,700 sqft
    2018-06-01 60 days 1,731 sqft
    2018-07-01 64 days 1,745 sqft
    2018-08-01 59 days 1,717 sqft
    2018-09-01 64 days 1,707 sqft
    2018-10-01 73 days 1,692 sqft
    2018-11-01 77 days 1,682 sqft
    2018-12-01 85 days 1,660 sqft
    2019-01-01 86 days 1,671 sqft
    2019-02-01 79 days 1,712 sqft
    2019-03-01 66 days 1,705 sqft
    2019-04-01 51 days 1,696 sqft
    2019-05-01 51 days 1,696 sqft
    2019-06-01 54 days 1,714 sqft
    2019-07-01 54 days 1,729 sqft
    2019-08-01 56 days 1,731 sqft
    2019-09-01 59 days 1,722 sqft
    2019-10-01 62 days 1,713 sqft
    2019-11-01 65 days 1,683 sqft
    2019-12-01 74 days 1,672 sqft
    2020-01-01 75 days 1,657 sqft
    2020-02-01 54 days 1,664 sqft
    2020-03-01 47 days 1,687 sqft
    2020-04-01 54 days 1,689 sqft
    2020-05-01 59 days 1,678 sqft
    2020-06-01 51 days 1,656 sqft
    2020-07-01 51 days 1,655 sqft
    2020-08-01 50 days 1,677 sqft
    2020-09-01 50 days 1,674 sqft
    2020-10-01 51 days 1,663 sqft
    2020-11-01 53 days 1,643 sqft
    2020-12-01 58 days 1,612 sqft
    2021-01-01 60 days 1,618 sqft
    2021-02-01 47 days 1,638 sqft
    2021-03-01 43 days 1,649 sqft
    2021-04-01 41 days 1,652 sqft
    2021-05-01 38 days 1,636 sqft
    2021-06-01 37 days 1,613 sqft
    2021-07-01 39 days 1,592 sqft
    2021-08-01 38 days 1,599 sqft
    2021-09-01 42 days 1,597 sqft
    2021-10-01 47 days 1,606 sqft
    2021-11-01 51 days 1,628 sqft
    2021-12-01 58 days 1,652 sqft
    2022-01-01 61 days 1,671 sqft
    2022-02-01 39 days 1,655 sqft
    2022-03-01 37 days 1,630 sqft
    2022-04-01 32 days 1,606 sqft
    2022-05-01 33 days 1,622 sqft
    2022-06-01 35 days 1,669 sqft
    2022-07-01 36 days 1,692 sqft
    2022-08-01 39 days 1,672 sqft
    2022-09-01 46 days 1,671 sqft
    2022-10-01 45 days 1,690 sqft
    2022-11-01 45 days 1,706 sqft
    Tallahassee's median listing age (time on market) for 2022-11-01 was 45 days. This is -11% shorter than the same period one year ago.

    Tallahassee's median square footage for active listings during the 2022-11-01 period was 1,706 sqft. One year prior, the average listing was 1,628 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.