Tallahassee VA Loan Rates, Closing Costs & Stats

TALLAHASSEE, FL

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.