Tullahoma VA Loan Rates, Closing Costs & Stats

Tullahoma-Manchester, TN

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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.

    Tullahoma's 64 lenders originated 237 VA loans during 2023. The total origination value was $75,775,000, with an average VA loan value of $319,726.

    Tullahoma VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Tullahoma averaged 6.65% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Tullahoma's average VA mortgage closing costs are $5,707.

    The average rate for the prior week (2024-04-12) was 6.58% and one month ago for the week of 2024-03-15, the average rate was 6.54%.

    The average rate one year ago was 5.93%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.8%.

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

    Tullahoma 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 Tullahoma level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 43 6.79% $4,931
    QUICKEN LOANS, LLC 21 5.94% $11,292
    UNITED WHOLESALE MORTGAGE, LLC 13 6.13% $8,708
    NAVY FEDERAL CREDIT UNION 11 5.77% $4,315
    USAA Federal Savings Bank 9 5.89% $8,002
    FIRST COMMUNITY MORTGAGE, INC. 9 6.32% $7,861
    CMG MORTGAGE, INC. 7 6.23% $13,691
    FirstBank 6 6.48% $8,261
    First Vision Bank of Tennessee 6 6.06% $13,910
    BROKER SOLUTIONS, INC. 6 6.60% $6,542
    SeaTrust Mortgage Company 5 6.33% $10,627
    NEW DAY FINANCIAL, LLC 5 7.27% $14,697
    FREEDOM MORTGAGE CORPORATION 5 6.23% $13,074
    GUARANTEED RATE, INC. 5 6.35% $1,806
    VILLAGE CAPITAL MORTGAGE 5 6.20% $10,188
    PENNYMAC LOAN SERVICES, LLC 4 5.88% $7,539
    MOVEMENT MORTGAGE, LLC 4 6.88% $4,448
    ISERVE RESIDENTIAL LENDING, LLC 4 6.16% $9,079
    Citizens Tri-County Bank 4 6.34% $6,936
    LOANDEPOT.COM, LLC 4 5.78% $10,124
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.08% $14,034
    U.S. Bank 3 6.96% $4,773
    Mr. Cooper ( Nationstar Mortgage ) 3 6.17% $6,433
    MILEND, INC. 2 6.50% $16,198
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.69% $27,121
    HOMESIDE FINANCIAL, LLC 2 7.25% $3,176
    FirstTrust Home Loans, Inc. 2 7.06% $12,153
    Legends Bank 2 5.88% $8,872
    The Federal Savings Bank 2 5.94% $11,863
    Renasant Bank 1 7.13% $4,806
    RESOURCE FINANCIAL SERVICES, INC. 1 6.75% $7,776
    Synovus Bank 1 5.50% $11,007
    T2 FINANCIAL LLC 1 7.13% $11,539
    The First National Bank of Middle Tennessee 1 6.00% $3,268
    ACOPIA, LLC 1 7.50% $7,100
    Wyndham Capital Mortgage, Inc. 1 5.75% $3,815
    AMERISAVE MORTGAGE CORPORATION 1 5.63% $9,005
    Bank of England 1 6.13% $7,051
    Barrington Bank & Trust Company, N.A. 1 6.75% $15,198
    CapStar Bank 1 6.00% $4,293
    CARDINAL FINANCIAL 1 6.13% $6,132
    COMPASS MORTGAGE, INC. 1 7.13% $30,573
    Cornerstone First Mortgage, Inc 1 6.63% $7,022
    CROSSCOUNTRY MORTGAGE, LLC 1 5.13% $5,056
    ENVOY MORTGAGE, LTD 1 6.13% $10,518
    Equity Prime Mortgage LLC 1 7.75% $5,974
    First United Bank and Trust Company 1 5.88% $4,581
    Flagstar Bank, FSB 1 5.38% $7,387
    FLAT BRANCH MORTGAGE, INC. 1 7.25% $2,330
    Franklin Loan Corporation 1 6.25% $8,800
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.25% $1,145
    HomePromise Corporation 1 8.13% $8,775
    Legacy Home Loans, LLC 1 5.50% $3,645
    MEMBER FIRST MORTGAGE, LLC 1 6.00% $4,474
    Mid-Continent Funding, Inc. 1 6.50% $20,378
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $0
    M&T Bank 1 5.75% $8,431
    NATIONS RELIABLE LENDING, LLC 1 7.63% $3,239
    NEWREZ LLC 1 6.75% $7,776
    Paramount Residential Mortgage Group, Inc. 1 5.63% $3,417
    PENTAGON FEDERAL CREDIT UNION 1 5.50% $6,002
    PHH Mortgage Corporation 1 6.00% $3,123
    Plains Commerce Bank 1 5.75% $3,777
    Prosperity Home Mortgage, LLC 1 7.63% $8,875

    The top Tullahoma VA lender as defined by loan originations is Mortgage Research Center, LLC, with 43 VA loans originated. Their average total fees are $4,931, which is $6,361 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Tullahoma VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($4,315), Mortgage Research Center, LLC ($4,931), UNITED WHOLESALE MORTGAGE, LLC ($8,708), QUICKEN LOANS, LLC ($11,292) and .

    The lowest rate Tullahoma VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.77%), QUICKEN LOANS, LLC (5.94%), UNITED WHOLESALE MORTGAGE, LLC (6.13%), Mortgage Research Center, LLC (6.79%) and .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Tullahoma (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 $249,950 (16.8%) $370,871 (16.9%) 0.00 342
    2018-02-01 $272,450 (32.9%) $385,937 (22.8%) 0.00 331
    2018-03-01 $274,750 (29.0%) $384,268 (20.6%) 0.00 336
    2018-04-01 $289,925 (31.8%) $384,252 (16.1%) 0.00 332
    2018-05-01 $299,900 (11.1%) $396,499 (2.0%) 0.00 334
    2018-06-01 $299,900 (13.4%) $396,066 (3.7%) 0.00 359
    2018-07-01 $290,725 (2.0%) $394,660 (-0.2%) 0.00 363
    2018-08-01 $282,400 (2.7%) $385,054 (-0.1%) 0.00 366
    2018-09-01 $269,000 (1.6%) $368,345 (-2.2%) 0.00 373
    2018-10-01 $273,500 (2.3%) $372,273 (-2.0%) 0.00 376
    2018-11-01 $267,475 (7.1%) $361,724 (-2.8%) 0.00 374
    2018-12-01 $256,682 (0.7%) $341,417 (-9.9%) 0.00 368
    2019-01-01 $256,900 (2.8%) $339,364 (-8.5%) 0.00 345
    2019-02-01 $259,900 (-4.6%) $346,588 (-10.2%) 0.00 347
    2019-03-01 $276,329 (0.6%) $365,215 (-5.0%) 0.00 322
    2019-04-01 $282,079 (-2.7%) $375,686 (-2.2%) 0.00 302
    2019-05-01 $299,950 (0.0%) $388,965 (-1.9%) 0.00 316
    2019-06-01 $291,950 (-2.7%) $378,016 (-4.6%) 0.00 334
    2019-07-01 $298,450 (2.7%) $398,529 (1.0%) 0.00 341
    2019-08-01 $294,109 (4.2%) $396,035 (2.9%) 0.00 344
    2019-09-01 $288,423 (7.2%) $396,558 (7.7%) 0.00 357
    2019-10-01 $284,250 (3.9%) $396,907 (6.6%) 0.00 364
    2019-11-01 $269,500 (0.8%) $391,024 (8.1%) 0.00 348
    2019-12-01 $259,900 (1.3%) $368,098 (7.8%) 0.00 343
    2020-01-01 $256,900 (0.0%) $366,151 (7.9%) 0.00 317
    2020-02-01 $258,750 (-0.4%) $360,313 (4.0%) 0.00 302
    2020-03-01 $286,175 (3.6%) $385,580 (5.6%) 0.00 286
    2020-04-01 $279,900 (-0.8%) $379,841 (1.1%) 0.00 284
    2020-05-01 $306,990 (2.4%) $403,399 (3.7%) 0.00 255
    2020-06-01 $319,900 (9.6%) $404,349 (7.0%) 0.00 217
    2020-07-01 $316,950 (6.2%) $394,084 (-1.1%) 0.00 201
    2020-08-01 $329,900 (12.2%) $402,355 (1.6%) 0.00 178
    2020-09-01 $309,475 (7.3%) $407,296 (2.7%) 0.00 151
    2020-10-01 $314,500 (10.6%) $415,086 (4.6%) 0.00 149
    2020-11-01 $295,000 (9.5%) $424,355 (8.5%) 0.00 140
    2020-12-01 $279,900 (7.7%) $403,655 (9.7%) 0.00 139
    2021-01-01 $264,900 (3.1%) $382,155 (4.4%) 0.00 135
    2021-02-01 $289,900 (12.0%) $398,589 (10.6%) 0.00 119
    2021-03-01 $296,925 (3.8%) $414,898 (7.6%) 0.00 107
    2021-04-01 $346,225 (23.7%) $492,318 (29.6%) 0.00 100
    2021-05-01 $409,900 (33.5%) $478,188 (18.5%) 0.00 117
    2021-06-01 $382,425 (19.6%) $515,365 (27.5%) 0.00 119
    2021-07-01 $369,400 (16.6%) $497,886 (26.3%) 0.00 148
    2021-08-01 $382,450 (15.9%) $505,060 (25.5%) 0.00 171
    2021-09-01 $386,950 (25.0%) $511,043 (25.5%) 0.00 186
    2021-10-01 $379,450 (20.7%) $552,163 (33.0%) 0.00 174
    2021-11-01 $389,450 (32.0%) $570,183 (34.4%) 0.00 178
    2021-12-01 $374,900 (33.9%) $568,604 (40.9%) 0.00 159
    2022-01-01 $374,900 (41.5%) $560,458 (46.7%) 0.00 135
    2022-02-01 $394,625 (36.1%) $570,936 (43.2%) 0.00 132
    2022-03-01 $381,675 (28.5%) $583,347 (40.6%) 0.00 147
    2022-04-01 $429,000 (23.9%) $574,105 (16.6%) 0.00 177
    2022-05-01 $432,400 (5.5%) $601,859 (25.9%) 0.00 219
    2022-06-01 $449,900 (17.6%) $599,590 (16.3%) 0.00 276
    2022-07-01 $446,700 (20.9%) $588,737 (18.3%) 0.00 319
    2022-08-01 $457,400 (19.6%) $606,590 (20.1%) 0.00 344
    2022-09-01 $467,425 (20.8%) $637,291 (24.7%) 0.00 346
    2022-10-01 $399,900 (5.4%) $593,989 (7.6%) 0.00 421
    2022-11-01 $399,900 (2.7%) $567,578 (-0.5%) 0.00 419
    2022-12-01 $399,900 (6.7%) $570,546 (0.3%) 0.00 397
    2023-01-01 $384,925 (2.7%) $569,514 (1.6%) 0.00 378
    2023-02-01 $384,950 (-2.5%) $580,838 (1.7%) 0.00 351
    2023-03-01 $389,675 (2.1%) $583,695 (0.1%) 0.00 349
    2023-04-01 $479,900 (11.9%) $636,215 (10.8%) 0.00 328
    2023-05-01 $479,900 (11.0%) $622,138 (3.4%) 0.00 351
    2023-06-01 $479,450 (6.6%) $610,798 (1.9%) 0.00 384
    2023-07-01 $474,900 (6.3%) $584,930 (-0.7%) 0.00 360
    2023-08-01 $456,675 (-0.2%) $574,452 (-5.3%) 0.00 374
    2023-09-01 $449,900 (-3.8%) $588,262 (-7.7%) 0.00 392
    2023-10-01 $441,475 (10.4%) $566,677 (-4.6%) 0.00 413
    2023-11-01 $399,900 (0.0%) $524,203 (-7.6%) 0.00 461
    2023-12-01 $399,500 (-0.1%) $505,530 (-11.4%) 0.00 476
    2024-01-01 $398,500 (3.5%) $507,002 (-11.0%) 0.00 424
    2024-02-01 $409,925 (6.5%) $522,481 (-10.1%) 0.00 421
    2024-03-01 $434,900 (11.6%) $539,739 (-7.5%) 0.00 397
    Tullahoma's median listing price for 2024-03-01 was $434,900, a difference of $45,225 (11.6%) versus the prior year and $24,975 versus the prior month.

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

    Tullahoma's average listing price for 2024-03-01 was $539,739, a difference of $-43,956 (-7.5%) versus the prior year and $17,258 versus the prior month.

    For the 2024-03-01 period, Tullahoma had 397 MLS listings, a difference of -24 listings (-6%) versus the prior month and 48 listings (14%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Tullahoma (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,220 sqft
    2018-02-01 0 days 2,289 sqft
    2018-03-01 0 days 2,279 sqft
    2018-04-01 0 days 2,297 sqft
    2018-05-01 0 days 2,420 sqft
    2018-06-01 0 days 2,421 sqft
    2018-07-01 0 days 2,419 sqft
    2018-08-01 0 days 2,308 sqft
    2018-09-01 0 days 2,280 sqft
    2018-10-01 0 days 2,242 sqft
    2018-11-01 0 days 2,255 sqft
    2018-12-01 0 days 2,149 sqft
    2019-01-01 0 days 2,153 sqft
    2019-02-01 0 days 2,176 sqft
    2019-03-01 0 days 2,273 sqft
    2019-04-01 0 days 2,364 sqft
    2019-05-01 0 days 2,453 sqft
    2019-06-01 0 days 2,400 sqft
    2019-07-01 0 days 2,405 sqft
    2019-08-01 0 days 2,345 sqft
    2019-09-01 0 days 2,295 sqft
    2019-10-01 0 days 2,262 sqft
    2019-11-01 0 days 2,240 sqft
    2019-12-01 0 days 2,109 sqft
    2020-01-01 0 days 2,088 sqft
    2020-02-01 0 days 2,061 sqft
    2020-03-01 0 days 2,220 sqft
    2020-04-01 0 days 2,200 sqft
    2020-05-01 0 days 2,269 sqft
    2020-06-01 0 days 2,285 sqft
    2020-07-01 0 days 2,259 sqft
    2020-08-01 0 days 2,226 sqft
    2020-09-01 0 days 2,166 sqft
    2020-10-01 0 days 2,181 sqft
    2020-11-01 0 days 2,099 sqft
    2020-12-01 0 days 1,988 sqft
    2021-01-01 0 days 1,938 sqft
    2021-02-01 0 days 1,920 sqft
    2021-03-01 0 days 1,859 sqft
    2021-04-01 0 days 1,888 sqft
    2021-05-01 0 days 1,915 sqft
    2021-06-01 0 days 1,987 sqft
    2021-07-01 0 days 1,959 sqft
    2021-08-01 0 days 2,057 sqft
    2021-09-01 0 days 2,080 sqft
    2021-10-01 0 days 2,180 sqft
    2021-11-01 0 days 2,140 sqft
    2021-12-01 0 days 2,069 sqft
    2022-01-01 0 days 2,019 sqft
    2022-02-01 0 days 2,030 sqft
    2022-03-01 0 days 2,008 sqft
    2022-04-01 0 days 2,040 sqft
    2022-05-01 0 days 2,118 sqft
    2022-06-01 0 days 2,223 sqft
    2022-07-01 0 days 2,187 sqft
    2022-08-01 0 days 2,090 sqft
    2022-09-01 0 days 2,114 sqft
    2022-10-01 0 days 2,010 sqft
    2022-11-01 0 days 2,002 sqft
    2022-12-01 0 days 1,968 sqft
    2023-01-01 0 days 1,972 sqft
    2023-02-01 0 days 1,928 sqft
    2023-03-01 0 days 1,947 sqft
    2023-04-01 0 days 2,121 sqft
    2023-05-01 0 days 2,174 sqft
    2023-06-01 0 days 2,200 sqft
    2023-07-01 0 days 2,214 sqft
    2023-08-01 0 days 2,159 sqft
    2023-09-01 0 days 2,159 sqft
    2023-10-01 0 days 2,091 sqft
    2023-11-01 0 days 1,925 sqft
    2023-12-01 0 days 1,917 sqft
    2024-01-01 0 days 1,953 sqft
    2024-02-01 0 days 1,967 sqft
    2024-03-01 0 days 2,044 sqft
    Tullahoma's median listing age (time on market) for 2024-03-01 was 0 days.

    Tullahoma's median square footage for active listings during the 2024-03-01 period was 2,044 sqft. One year prior, the average listing was 1,947 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.