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 80 lenders originated 577 VA loans during 2024. The total origination value was $186,645,000, with an average VA loan value of $323,475.

    Tallahassee VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Tallahassee averaged 6.21% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

    Tallahassee's average VA mortgage closing costs are $6,634.

    The average rate for the prior week (2025-03-28) was 6.53% and one month ago for the week of 2025-02-28, the average rate was 6.3%.

    The average rate one year ago was 6.91%.

    For refis of the same type during the week of 2025-04-04, 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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 100 6.36% $5,588
    UNITED WHOLESALE MORTGAGE, LLC 56 5.78% $8,905
    QUICKEN LOANS, LLC 38 6.07% $9,825
    LOANDEPOT.COM, LLC 29 6.38% $9,827
    University Bank 28 6.33% $5,802
    FREEDOM MORTGAGE CORPORATION 22 6.14% $10,193
    NAVY FEDERAL CREDIT UNION 20 5.89% $5,813
    MOVEMENT MORTGAGE, LLC 19 6.42% $7,984
    ServisFirst Bank 18 6.22% $7,615
    DHI MORTGAGE COMPANY, LTD. 18 5.31% $5,381
    VILLAGE CAPITAL MORTGAGE 15 5.79% $5,660
    USAA Federal Savings Bank 12 6.18% $8,645
    GMFS LLC 10 6.02% $6,430
    Ameris Bank 10 6.31% $7,349
    NEW DAY FINANCIAL, LLC 9 7.52% $13,148
    STOCKTON MORTGAGE CORPORATION 7 6.68% $8,043
    CROSSCOUNTRY MORTGAGE, LLC 7 6.69% $13,956
    Equity Prime Mortgage LLC 7 6.27% $8,768
    PENNYMAC LOAN SERVICES, LLC 7 5.55% $5,897
    BAY CAPITAL MORTGAGE CORPORATION 7 6.25% $7,403
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.44% $8,788
    NEWREZ LLC 5 6.33% $9,857
    Mid-Continent Funding, Inc. 4 6.13% $7,435
    UNION HOME MORTGAGE CORP. 4 6.28% $6,808
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 6.42% $5,395
    FIRST COMMUNITY MORTGAGE, INC. 3 6.62% $10,144
    VAN DYK MORTGAGE CORPORATION 3 6.58% $1,803
    DELMAR FINANCIAL COMPANY 3 6.42% $10,268
    Capital City Home Loans, LLC 3 6.58% $9,736
    PLAZA HOME MORTGAGE, INC. 3 6.58% $7,700
    PHH Mortgage Corporation 3 5.33% $5,889
    The Loan Store, Inc. 3 5.50% $8,300
    Wells Fargo Bank 2 6.25% $5,675
    Blue Ridge Bank 2 6.25% $7,607
    CARDINAL FINANCIAL 2 6.50% $8,806
    Carrington Mortgage Services, LLC 2 5.88% $13,452
    EMM LOANS LLC 2 6.19% $15,490
    EVERETT FINANCIAL, INC. 2 6.63% $15,727
    Flagstar Bank, FSB 2 5.56% $2,811
    Magnolia Bank 2 5.94% $24,851
    Mr. Cooper ( Nationstar Mortgage ) 2 6.69% $5,673
    NORWICH COMMERCIAL GROUP, INC. 2 6.25% $1,253
    The Federal Savings Bank 2 5.94% $24,659
    Truist 2 6.40% $5,539
    Tyndall Federal Credit Union 2 6.00% $6,925
    AMERISAVE MORTGAGE CORPORATION 1 7.75% $4,716
    Nations Lending Corporation 1 6.25% $14,419
    GUARANTEED RATE, INC. 1 6.13% $4,266
    NBKC BANK 1 5.88% $5,327
    NETWORK CAPITAL FUNDING CORPORATION 1 6.25% $7,553
    GENEVA FINANCIAL, LLC 1 6.13% $13,677
    First Federal Bank 1 7.13% $6,326
    NFM, INC. 1 5.50% $5,522
    American Mortgage & Equity Consultants, Inc. 1 7.13% $4,030
    Paramount Residential Mortgage Group, Inc. 1 6.50% $7,507
    FirstBank 1 6.75% $5,238
    PENTAGON FEDERAL CREDIT UNION 1 5.75% $13,808
    ENVOY MORTGAGE, LTD 1 6.63% $10,829
    PLANET HOME LENDING, LLC 1 5.50% $5,232
    Encompass Lending Group, LP 1 6.13% $6,329
    PNC Bank 1 6.13% $4,141
    POINT Mortgage 1 7.13% $7,868
    Credence Funding Corporation 1 5.00% $4,529
    Seacoast National Bank 1 6.75% $7,433
    CMG MORTGAGE, INC. 1 5.63% $17,028
    SOUTHWEST STAGE FUNDING, LLC 1 6.38% $64
    CLEARPATH LENDING 1 5.25% $5,332
    AMERICAN FINANCING CORPORATION 1 7.25% $31,222
    City National Bank of Florida 1 6.63% $0
    TOWNE MORTGAGE COMPANY 1 6.25% $8,316
    Waterstone Mortgage Corporation 1 6.50% $12,043
    AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $19,208
    Citizens Bank 1 6.75% $4,159
    BROKER SOLUTIONS, INC. 1 6.75% $5,243
    LAKEVIEW LOAN SERVICING, LLC 1 5.25% $13,580
    Barrington Bank & Trust Company, N.A. 1 5.25% $4,635
    Lakeview Community Capital, LLC 1 4.99% $1,626
    INTERCOASTAL MORTGAGE COMPANY 1 6.50% $5,792
    INTELLILOAN, INC. 1 6.13% $5,516
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.00% $7,621

    The top Tallahassee VA lender as defined by loan originations is Mortgage Research Center, LLC, with 100 VA loans originated. Their average total fees are $5,588, which is $3,318 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Tallahassee VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($5,381), Mortgage Research Center, LLC ($5,588), VILLAGE CAPITAL MORTGAGE ($5,660), University Bank ($5,802) and NAVY FEDERAL CREDIT UNION ($5,813).

    The lowest rate Tallahassee VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.31%), UNITED WHOLESALE MORTGAGE, LLC (5.78%), VILLAGE CAPITAL MORTGAGE (5.79%), NAVY FEDERAL CREDIT UNION (5.89%) and GMFS LLC (6.02%).

    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%) $292,666 (8.1%) 0.82 1,135
    2018-02-01 $220,000 (12.9%) $294,346 (10.4%) 0.80 1,149
    2018-03-01 $224,900 (12.5%) $298,611 (10.9%) 0.79 1,206
    2018-04-01 $223,950 (12.0%) $298,184 (9.0%) 0.76 1,284
    2018-05-01 $225,600 (11.4%) $301,180 (7.9%) 0.75 1,325
    2018-06-01 $231,950 (12.3%) $303,883 (8.5%) 0.77 1,346
    2018-07-01 $235,000 (11.9%) $299,917 (6.8%) 0.78 1,375
    2018-08-01 $229,500 (9.3%) $296,187 (5.3%) 0.77 1,432
    2018-09-01 $223,781 (5.8%) $292,151 (2.1%) 0.75 1,412
    2018-10-01 $221,800 (0.1%) $286,751 (-1.3%) 0.75 1,362
    2018-11-01 $223,840 (1.8%) $287,118 (-2.2%) 0.76 1,328
    2018-12-01 $222,780 (1.3%) $285,749 (-2.0%) 0.77 1,282
    2019-01-01 $224,725 (2.2%) $289,995 (-0.9%) 0.78 1,192
    2019-02-01 $229,973 (4.5%) $289,170 (-1.8%) 0.78 1,194
    2019-03-01 $234,979 (4.5%) $285,593 (-4.4%) 0.77 1,470
    2019-04-01 $234,925 (4.9%) $282,269 (-5.3%) 0.75 1,853
    2019-05-01 $232,100 (2.9%) $284,966 (-5.4%) 0.73 1,894
    2019-06-01 $238,360 (2.8%) $291,953 (-3.9%) 0.74 1,871
    2019-07-01 $239,800 (2.0%) $292,454 (-2.5%) 0.75 1,893
    2019-08-01 $239,900 (4.5%) $288,975 (-2.4%) 0.76 1,865
    2019-09-01 $239,900 (7.2%) $286,764 (-1.8%) 0.77 1,788
    2019-10-01 $239,900 (8.2%) $284,876 (-0.7%) 0.77 1,721
    2019-11-01 $235,000 (5.0%) $282,576 (-1.6%) 0.77 1,615
    2019-12-01 $229,450 (3.0%) $278,448 (-2.6%) 0.77 1,460
    2020-01-01 $232,520 (3.5%) $279,670 (-3.6%) 0.78 1,428
    2020-02-01 $235,000 (2.2%) $282,590 (-2.3%) 0.77 1,571
    2020-03-01 $240,000 (2.1%) $288,028 (0.9%) 0.75 1,656
    2020-04-01 $240,000 (2.2%) $288,195 (2.1%) 0.75 1,663
    2020-05-01 $241,000 (3.8%) $293,959 (3.2%) 0.73 1,659
    2020-06-01 $240,750 (1.0%) $290,619 (-0.5%) 0.71 1,701
    2020-07-01 $245,450 (2.4%) $290,693 (-0.6%) 0.71 1,669
    2020-08-01 $248,200 (3.5%) $295,101 (2.1%) 0.71 1,587
    2020-09-01 $249,900 (4.2%) $300,235 (4.7%) 0.72 1,555
    2020-10-01 $249,900 (4.2%) $301,043 (5.7%) 0.72 1,491
    2020-11-01 $241,550 (2.8%) $299,680 (6.1%) 0.71 1,438
    2020-12-01 $237,000 (3.3%) $299,850 (7.7%) 0.70 1,312
    2021-01-01 $239,900 (3.2%) $295,607 (5.7%) 0.72 1,225
    2021-02-01 $249,450 (6.2%) $299,066 (5.8%) 0.73 1,267
    2021-03-01 $250,000 (4.2%) $301,086 (4.5%) 0.71 1,331
    2021-04-01 $252,200 (5.1%) $300,986 (4.4%) 0.68 1,381
    2021-05-01 $259,900 (7.8%) $303,321 (3.2%) 0.69 1,424
    2021-06-01 $260,500 (8.2%) $307,341 (5.8%) 0.69 1,445
    2021-07-01 $260,000 (5.9%) $306,270 (5.4%) 0.69 1,458
    2021-08-01 $265,000 (6.8%) $309,583 (4.9%) 0.71 1,465
    2021-09-01 $268,850 (7.6%) $311,672 (3.8%) 0.72 1,486
    2021-10-01 $269,900 (8.0%) $316,156 (5.0%) 0.72 1,453
    2021-11-01 $273,000 (13.0%) $320,321 (6.9%) 0.73 1,365
    2021-12-01 $277,450 (17.1%) $323,338 (7.8%) 0.75 1,219
    2022-01-01 $289,000 (20.5%) $334,249 (13.1%) 0.78 1,011
    2022-02-01 $294,950 (18.2%) $340,203 (13.8%) 0.77 1,079
    2022-03-01 $289,900 (16.0%) $345,020 (14.6%) 0.73 1,066
    2022-04-01 $287,500 (14.0%) $344,550 (14.5%) 0.69 1,129
    2022-05-01 $292,917 (12.7%) $351,672 (15.9%) 0.67 1,240
    2022-06-01 $299,450 (15.0%) $363,700 (18.3%) 0.67 1,281
    2022-07-01 $310,000 (19.2%) $374,874 (22.4%) 0.70 1,298
    2022-08-01 $300,000 (13.2%) $372,617 (20.4%) 0.69 1,265
    2022-09-01 $307,475 (14.4%) $372,109 (19.4%) 0.72 1,166
    2022-10-01 $316,500 (17.3%) $380,008 (20.2%) 0.74 1,153
    2022-11-01 $319,925 (17.2%) $383,646 (19.8%) 0.77 1,155
    2022-12-01 $319,000 (15.0%) $383,927 (18.7%) 0.79 1,042
    2023-01-01 $310,500 (7.4%) $375,319 (12.3%) 0.77 975
    2023-02-01 $316,250 (7.2%) $376,072 (10.5%) 0.76 1,036
    2023-03-01 $325,125 (12.2%) $387,485 (12.3%) 0.77 1,066
    2023-04-01 $330,000 (14.8%) $391,891 (13.7%) 0.77 1,092
    2023-05-01 $329,500 (12.5%) $391,688 (11.4%) 0.75 1,091
    2023-06-01 $335,000 (11.9%) $395,128 (8.6%) 0.75 1,106
    2023-07-01 $339,900 (9.7%) $398,040 (6.2%) 0.77 1,106
    2023-08-01 $339,225 (13.1%) $397,887 (6.8%) 0.78 1,148
    2023-09-01 $329,900 (7.3%) $394,013 (5.9%) 0.77 1,150
    2023-10-01 $315,000 (-0.5%) $384,191 (1.1%) 0.74 1,202
    2023-11-01 $317,225 (-0.8%) $383,928 (0.1%) 0.76 1,239
    2023-12-01 $314,900 (-1.3%) $379,959 (-1.0%) 0.77 1,165
    2024-01-01 $313,525 (1.0%) $376,455 (0.3%) 0.77 1,165
    2024-02-01 $318,650 (0.8%) $383,378 (1.9%) 0.77 1,258
    2024-03-01 $320,000 (-1.6%) $388,118 (0.2%) 0.75 1,322
    2024-04-01 $321,549 (-2.6%) $384,482 (-1.9%) 0.75 1,394
    2024-05-01 $324,424 (-1.5%) $388,717 (-0.8%) 0.74 1,495
    2024-06-01 $323,696 (-3.4%) $384,046 (-2.8%) 0.74 1,525
    2024-07-01 $307,000 (-9.7%) $379,103 (-4.8%) 0.70 1,526
    2024-08-01 $315,000 (-7.1%) $385,139 (-3.2%) 0.73 1,120
    2024-09-01 $310,900 (-5.8%) $382,477 (-2.9%) 0.73 1,111
    2024-10-01 $317,500 (0.8%) $392,883 (2.3%) 0.75 1,114
    2024-11-01 $322,000 (1.5%) $397,120 (3.4%) 0.77 1,143
    2024-12-01 $317,475 (0.8%) $393,192 (3.5%) 0.79 1,065
    2025-01-01 $319,950 (2.1%) $395,444 (5.0%) 0.80 1,033
    2025-02-01 $325,000 (2.0%) $403,366 (5.2%) 0.79 1,104
    2025-03-01 $325,000 (1.6%) $404,674 (4.3%) 0.00 1,202
    Tallahassee's median listing price for 2025-03-01 was $325,000, a difference of $5,000 (1.6%) versus the prior year and $0 versus the prior month.

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

    Tallahassee's average listing price for 2025-03-01 was $404,674, a difference of $16,556 (4.3%) versus the prior year and $1,308 versus the prior month.

    For the 2025-03-01 period, Tallahassee had 1,202 MLS listings, a difference of 98 listings (9%) versus the prior month and -120 listings (-9%) 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 73 days 1,698 sqft
    2018-02-01 67 days 1,693 sqft
    2018-03-01 54 days 1,714 sqft
    2018-04-01 51 days 1,709 sqft
    2018-05-01 50 days 1,700 sqft
    2018-06-01 56 days 1,730 sqft
    2018-07-01 58 days 1,742 sqft
    2018-08-01 55 days 1,717 sqft
    2018-09-01 60 days 1,706 sqft
    2018-10-01 69 days 1,692 sqft
    2018-11-01 73 days 1,681 sqft
    2018-12-01 79 days 1,658 sqft
    2019-01-01 79 days 1,669 sqft
    2019-02-01 70 days 1,711 sqft
    2019-03-01 58 days 1,703 sqft
    2019-04-01 48 days 1,694 sqft
    2019-05-01 48 days 1,694 sqft
    2019-06-01 51 days 1,714 sqft
    2019-07-01 51 days 1,728 sqft
    2019-08-01 53 days 1,730 sqft
    2019-09-01 57 days 1,720 sqft
    2019-10-01 59 days 1,711 sqft
    2019-11-01 63 days 1,682 sqft
    2019-12-01 71 days 1,671 sqft
    2020-01-01 72 days 1,657 sqft
    2020-02-01 46 days 1,664 sqft
    2020-03-01 45 days 1,685 sqft
    2020-04-01 52 days 1,687 sqft
    2020-05-01 57 days 1,677 sqft
    2020-06-01 48 days 1,656 sqft
    2020-07-01 48 days 1,655 sqft
    2020-08-01 46 days 1,672 sqft
    2020-09-01 47 days 1,672 sqft
    2020-10-01 49 days 1,662 sqft
    2020-11-01 51 days 1,640 sqft
    2020-12-01 54 days 1,610 sqft
    2021-01-01 58 days 1,614 sqft
    2021-02-01 44 days 1,634 sqft
    2021-03-01 40 days 1,645 sqft
    2021-04-01 39 days 1,651 sqft
    2021-05-01 37 days 1,631 sqft
    2021-06-01 36 days 1,606 sqft
    2021-07-01 38 days 1,592 sqft
    2021-08-01 38 days 1,595 sqft
    2021-09-01 41 days 1,594 sqft
    2021-10-01 46 days 1,606 sqft
    2021-11-01 50 days 1,624 sqft
    2021-12-01 57 days 1,646 sqft
    2022-01-01 60 days 1,670 sqft
    2022-02-01 38 days 1,652 sqft
    2022-03-01 36 days 1,622 sqft
    2022-04-01 31 days 1,600 sqft
    2022-05-01 32 days 1,617 sqft
    2022-06-01 34 days 1,661 sqft
    2022-07-01 35 days 1,690 sqft
    2022-08-01 38 days 1,667 sqft
    2022-09-01 45 days 1,665 sqft
    2022-10-01 44 days 1,688 sqft
    2022-11-01 44 days 1,697 sqft
    2022-12-01 55 days 1,698 sqft
    2023-01-01 60 days 1,655 sqft
    2023-02-01 45 days 1,657 sqft
    2023-03-01 41 days 1,695 sqft
    2023-04-01 39 days 1,702 sqft
    2023-05-01 39 days 1,685 sqft
    2023-06-01 37 days 1,700 sqft
    2023-07-01 38 days 1,686 sqft
    2023-08-01 36 days 1,661 sqft
    2023-09-01 42 days 1,640 sqft
    2023-10-01 43 days 1,612 sqft
    2023-11-01 45 days 1,617 sqft
    2023-12-01 51 days 1,613 sqft
    2024-01-01 53 days 1,592 sqft
    2024-02-01 43 days 1,611 sqft
    2024-03-01 44 days 1,608 sqft
    2024-04-01 43 days 1,593 sqft
    2024-05-01 40 days 1,611 sqft
    2024-06-01 43 days 1,604 sqft
    2024-07-01 45 days 1,568 sqft
    2024-08-01 50 days 1,571 sqft
    2024-09-01 53 days 1,574 sqft
    2024-10-01 58 days 1,588 sqft
    2024-11-01 60 days 1,588 sqft
    2024-12-01 61 days 1,570 sqft
    2025-01-01 64 days 1,562 sqft
    2025-02-01 49 days 1,614 sqft
    2025-03-01 0 days 1,602 sqft
    Tallahassee's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Tallahassee's median square footage for active listings during the 2025-03-01 period was 1,602 sqft. One year prior, the average listing was 1,608 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.