Troy VA Loan Rates, Closing Costs & Stats

Troy, 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.

    Troy's 23 lenders originated 40 VA loans during 2023. The total origination value was $9,560,000, with an average VA loan value of $239,000.

    Troy VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Troy averaged 0.14% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Troy's average VA mortgage closing costs are $4,928.

    The average rate for the prior week (2024-11-08) was 6.45% and one month ago for the week of 2024-10-11, the average rate was 5.82%.

    The average rate one year ago was 7.41%.

    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.

    Troy 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 Troy level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 8 6.69% $4,078
    NAVY FEDERAL CREDIT UNION 3 6.00% $3,525
    QUICKEN LOANS, LLC 2 7.00% $4,128
    Assurance Financial Group, L.L.C. 2 5.75% $5,770
    USAA Federal Savings Bank 2 5.75% $5,458
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.25% $5,914
    PENNYMAC LOAN SERVICES, LLC 2 5.44% $5,771
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.13% $2,960
    GMFS LLC 1 6.75% $600
    GUILD MORTGAGE COMPANY 1 7.13% $6,417
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.13% $2,042
    MOVEMENT MORTGAGE, LLC 1 7.75% $1,639
    NEW DAY FINANCIAL, LLC 1 8.49% $9,716
    Renasant Bank 1 6.63% $9,429
    SeaTrust Mortgage Company 1 6.13% $12,267
    The Federal Savings Bank 1 6.63% $10,938
    MORTGAGE INVESTORS GROUP, INC. 1 6.50% $4,399
    Barrington Bank & Trust Company, N.A. 1 5.75% $4,237
    CMG MORTGAGE, INC. 1 6.75% $4,302
    CROSSCOUNTRY MORTGAGE, LLC 1 6.56% $13,410
    DHI MORTGAGE COMPANY, LTD. 1 5.99% $2,858
    ENVOY MORTGAGE, LTD 1 7.13% $11,813
    Equity Prime Mortgage LLC 1 6.50% $5,895

    The top Troy VA lender as defined by loan originations is Mortgage Research Center, LLC, with 8 VA loans originated. Their average total fees are $4,078, which is $553 higher than the next largest lender, NAVY FEDERAL CREDIT UNION.

    The lowest fee Troy VA lenders (with over 10 loans originated) are .

    The lowest rate Troy VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Troy (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 $153,000 (9.4%) $179,826 (5.1%) 0.00 147
    2018-02-01 $150,975 (6.0%) $175,994 (3.8%) 0.00 156
    2018-03-01 $149,900 (1.3%) $174,592 (-0.6%) 0.00 165
    2018-04-01 $149,975 (5.3%) $176,107 (1.0%) 0.00 177
    2018-05-01 $149,600 (6.9%) $175,343 (1.9%) 0.00 179
    2018-06-01 $149,250 (0.2%) $173,984 (0.1%) 0.00 177
    2018-07-01 $149,900 (0.4%) $173,395 (-1.1%) 0.00 168
    2018-08-01 $152,250 (1.4%) $175,733 (-4.1%) 0.00 156
    2018-09-01 $149,900 (0.3%) $174,705 (-5.5%) 0.00 143
    2018-10-01 $151,750 (1.2%) $189,760 (1.4%) 0.00 146
    2018-11-01 $149,900 (-1.5%) $187,182 (-0.5%) 0.00 155
    2018-12-01 $139,900 (-9.6%) $181,066 (-3.9%) 0.00 141
    2019-01-01 $140,000 (-8.5%) $180,336 (0.3%) 0.00 146
    2019-02-01 $146,950 (-2.7%) $181,433 (3.1%) 0.00 145
    2019-03-01 $152,857 (2.0%) $185,935 (6.5%) 0.00 151
    2019-04-01 $157,875 (5.3%) $185,380 (5.3%) 0.00 158
    2019-05-01 $157,875 (5.5%) $182,410 (4.0%) 0.00 159
    2019-06-01 $154,900 (3.8%) $182,508 (4.9%) 0.00 153
    2019-07-01 $163,200 (8.9%) $184,193 (6.2%) 0.00 141
    2019-08-01 $163,486 (7.4%) $185,132 (5.4%) 0.00 139
    2019-09-01 $161,216 (7.6%) $183,697 (5.2%) 0.00 149
    2019-10-01 $159,225 (4.9%) $180,719 (-4.8%) 0.00 156
    2019-11-01 $149,900 (0.0%) $179,352 (-4.2%) 0.00 156
    2019-12-01 $149,700 (7.0%) $177,989 (-1.7%) 0.00 149
    2020-01-01 $148,750 (6.3%) $168,647 (-6.5%) 0.00 160
    2020-02-01 $149,950 (2.0%) $172,797 (-4.8%) 0.00 153
    2020-03-01 $153,700 (0.6%) $170,461 (-8.3%) 0.00 151
    2020-04-01 $157,000 (-0.6%) $173,870 (-6.2%) 0.00 141
    2020-05-01 $168,000 (6.4%) $180,487 (-1.1%) 0.00 136
    2020-06-01 $185,000 (19.4%) $187,898 (3.0%) 0.00 123
    2020-07-01 $174,925 (7.2%) $188,376 (2.3%) 0.00 115
    2020-08-01 $169,900 (3.9%) $186,901 (1.0%) 0.00 110
    2020-09-01 $169,288 (5.0%) $190,405 (3.7%) 0.00 108
    2020-10-01 $159,900 (0.4%) $197,064 (9.0%) 0.00 101
    2020-11-01 $159,900 (6.7%) $191,150 (6.6%) 0.00 93
    2020-12-01 $167,100 (11.6%) $195,814 (10.0%) 0.00 96
    2021-01-01 $169,700 (14.1%) $196,740 (16.7%) 0.00 101
    2021-02-01 $175,000 (16.7%) $194,877 (12.8%) 0.00 114
    2021-03-01 $179,500 (16.8%) $195,596 (14.8%) 0.00 102
    2021-04-01 $182,200 (16.1%) $199,359 (14.7%) 0.00 97
    2021-05-01 $179,000 (6.6%) $195,313 (8.2%) 0.00 89
    2021-06-01 $179,900 (-2.8%) $205,944 (9.6%) 0.00 83
    2021-07-01 $186,400 (6.6%) $214,058 (13.6%) 0.00 77
    2021-08-01 $208,900 (23.0%) $228,664 (22.4%) 0.00 92
    2021-09-01 $208,900 (23.4%) $237,507 (24.7%) 0.00 91
    2021-10-01 $209,750 (31.2%) $237,094 (20.3%) 0.00 83
    2021-11-01 $209,600 (31.1%) $232,929 (21.9%) 0.00 80
    2021-12-01 $205,725 (23.1%) $228,236 (16.6%) 0.00 77
    2022-01-01 $207,500 (22.3%) $210,692 (7.1%) 0.00 81
    2022-02-01 $199,000 (13.7%) $208,909 (7.2%) 0.00 87
    2022-03-01 $175,875 (-2.0%) $193,076 (-1.3%) 0.00 84
    2022-04-01 $181,750 (-0.3%) $213,632 (7.2%) 0.00 79
    2022-05-01 $200,800 (12.2%) $214,747 (10.0%) 0.00 70
    2022-06-01 $209,950 (16.7%) $219,413 (6.5%) 0.00 69
    2022-07-01 $209,000 (12.1%) $223,211 (4.3%) 0.00 73
    2022-08-01 $187,000 (-10.5%) $238,347 (4.2%) 0.00 85
    2022-09-01 $190,000 (-9.1%) $248,541 (4.7%) 0.00 89
    2022-10-01 $179,000 (-14.7%) $247,276 (4.3%) 0.00 90
    2022-11-01 $188,250 (-10.2%) $230,794 (-0.9%) 0.00 77
    2022-12-01 $196,200 (-4.6%) $226,648 (-0.7%) 0.00 76
    2023-01-01 $198,875 (-4.2%) $225,523 (7.0%) 0.00 75
    2023-02-01 $194,500 (-2.3%) $217,160 (4.0%) 0.00 70
    2023-03-01 $189,000 (7.5%) $221,593 (14.8%) 0.00 82
    2023-04-01 $217,000 (19.4%) $227,816 (6.6%) 0.00 84
    2023-05-01 $224,950 (12.0%) $234,639 (9.3%) 0.00 86
    2023-06-01 $216,175 (3.0%) $226,606 (3.3%) 0.00 86
    2023-07-01 $209,950 (0.5%) $220,849 (-1.1%) 0.00 93
    2023-08-01 $199,900 (6.9%) $225,523 (-5.4%) 0.00 97
    2023-09-01 $199,900 (5.2%) $217,644 (-12.4%) 0.00 104
    2023-10-01 $211,250 (18.0%) $249,305 (0.8%) 0.00 105
    2023-11-01 $219,725 (16.7%) $307,301 (33.2%) 0.00 91
    2023-12-01 $222,000 (13.2%) $313,842 (38.5%) 0.00 86
    2024-01-01 $234,045 (17.7%) $311,272 (38.0%) 0.00 99
    2024-02-01 $224,950 (15.7%) $270,203 (24.4%) 0.00 116
    2024-03-01 $220,950 (16.9%) $264,261 (19.3%) 0.00 116
    2024-04-01 $239,350 (10.3%) $275,382 (20.9%) 0.00 115
    2024-05-01 $240,125 (6.8%) $281,726 (20.1%) 0.00 115
    2024-06-01 $239,000 (10.6%) $286,896 (26.6%) 0.00 115
    2024-07-01 $247,250 (17.8%) $288,964 (30.8%) 0.00 118
    2024-08-01 $248,250 (24.2%) $278,395 (23.4%) 0.00 127
    2024-09-01 $249,975 (25.1%) $287,777 (32.2%) 0.00 118
    2024-10-01 $266,370 (26.1%) $300,833 (20.7%) 0.00 122
    Troy's median listing price for 2024-10-01 was $266,370, a difference of $55,120 (26.1%) versus the prior year and $16,395 versus the prior month.

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

    Troy's average listing price for 2024-10-01 was $300,833, a difference of $51,528 (20.7%) versus the prior year and $13,056 versus the prior month.

    For the 2024-10-01 period, Troy had 122 MLS listings, a difference of 4 listings (3%) versus the prior month and 17 listings (16%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Troy (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,608 sqft
    2018-02-01 0 days 1,632 sqft
    2018-03-01 0 days 1,632 sqft
    2018-04-01 0 days 1,681 sqft
    2018-05-01 0 days 1,709 sqft
    2018-06-01 0 days 1,712 sqft
    2018-07-01 0 days 1,717 sqft
    2018-08-01 0 days 1,785 sqft
    2018-09-01 0 days 1,744 sqft
    2018-10-01 0 days 1,705 sqft
    2018-11-01 0 days 1,666 sqft
    2018-12-01 0 days 1,653 sqft
    2019-01-01 0 days 1,664 sqft
    2019-02-01 0 days 1,669 sqft
    2019-03-01 0 days 1,682 sqft
    2019-04-01 0 days 1,677 sqft
    2019-05-01 0 days 1,702 sqft
    2019-06-01 0 days 1,704 sqft
    2019-07-01 0 days 1,746 sqft
    2019-08-01 0 days 1,743 sqft
    2019-09-01 0 days 1,736 sqft
    2019-10-01 0 days 1,731 sqft
    2019-11-01 0 days 1,707 sqft
    2019-12-01 0 days 1,665 sqft
    2020-01-01 0 days 1,683 sqft
    2020-02-01 0 days 1,691 sqft
    2020-03-01 0 days 1,700 sqft
    2020-04-01 0 days 1,724 sqft
    2020-05-01 0 days 1,757 sqft
    2020-06-01 0 days 1,793 sqft
    2020-07-01 0 days 1,818 sqft
    2020-08-01 0 days 1,777 sqft
    2020-09-01 0 days 1,711 sqft
    2020-10-01 0 days 1,700 sqft
    2020-11-01 0 days 1,695 sqft
    2020-12-01 0 days 1,700 sqft
    2021-01-01 0 days 1,658 sqft
    2021-02-01 0 days 1,666 sqft
    2021-03-01 0 days 1,645 sqft
    2021-04-01 0 days 1,693 sqft
    2021-05-01 0 days 1,647 sqft
    2021-06-01 0 days 1,802 sqft
    2021-07-01 0 days 1,798 sqft
    2021-08-01 0 days 1,770 sqft
    2021-09-01 0 days 1,825 sqft
    2021-10-01 0 days 1,813 sqft
    2021-11-01 0 days 1,800 sqft
    2021-12-01 0 days 1,699 sqft
    2022-01-01 0 days 1,658 sqft
    2022-02-01 0 days 1,693 sqft
    2022-03-01 0 days 1,665 sqft
    2022-04-01 0 days 1,689 sqft
    2022-05-01 0 days 1,666 sqft
    2022-06-01 0 days 1,696 sqft
    2022-07-01 0 days 1,640 sqft
    2022-08-01 0 days 1,637 sqft
    2022-09-01 0 days 1,605 sqft
    2022-10-01 0 days 1,574 sqft
    2022-11-01 0 days 1,668 sqft
    2022-12-01 0 days 1,660 sqft
    2023-01-01 0 days 1,640 sqft
    2023-02-01 0 days 1,586 sqft
    2023-03-01 0 days 1,550 sqft
    2023-04-01 0 days 1,765 sqft
    2023-05-01 0 days 1,795 sqft
    2023-06-01 0 days 1,704 sqft
    2023-07-01 0 days 1,640 sqft
    2023-08-01 0 days 1,679 sqft
    2023-09-01 0 days 1,688 sqft
    2023-10-01 0 days 1,661 sqft
    2023-11-01 0 days 1,700 sqft
    2023-12-01 0 days 1,802 sqft
    2024-01-01 0 days 1,869 sqft
    2024-02-01 0 days 1,800 sqft
    2024-03-01 0 days 1,787 sqft
    2024-04-01 0 days 1,802 sqft
    2024-05-01 0 days 1,787 sqft
    2024-06-01 0 days 1,820 sqft
    2024-07-01 0 days 1,949 sqft
    2024-08-01 0 days 1,844 sqft
    2024-09-01 0 days 1,846 sqft
    2024-10-01 0 days 1,833 sqft
    Troy's median listing age (time on market) for 2024-10-01 was 0 days.

    Troy's median square footage for active listings during the 2024-10-01 period was 1,833 sqft. One year prior, the average listing was 1,661 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.