Tullahoma VA Loan Rates, Closing Costs & Stats

Tullahoma-Manchester, TN

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 89 lenders originated 519 VA loans during 2021. The total origination value was $127,335,000, with an average VA loan value of $245,347.

Tullahoma VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Tullahoma averaged 6.54% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

Tullahoma's average VA mortgage closing costs are $4,810.

The average rate for the prior week (2022-11-25) was 6.78% and one month ago for the week of 2022-10-28, the average rate was 6.87%.

The average rate one year ago was 3.25%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.21%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Mortgage Research Center, LLC 56 2.96% $4,162
QUICKEN LOANS, LLC 39 2.51% $4,482
FREEDOM MORTGAGE CORPORATION 31 2.34% $1,944
PENNYMAC LOAN SERVICES, LLC 29 2.59% $4,853
NEW DAY FINANCIAL, LLC 17 3.00% $7,458
LOANDEPOT.COM, LLC 16 2.94% $6,163
USAA Federal Savings Bank 16 2.79% $5,256
NAVY FEDERAL CREDIT UNION 13 2.60% $5,760
VILLAGE CAPITAL MORTGAGE 11 2.42% $3,410
First Horizon Bank 10 2.69% $8,294
STOCKTON MORTGAGE CORPORATION 10 2.93% $8,401
Mr. Cooper ( Nationstar Mortgage ) 9 2.90% $2,542
UNITED WHOLESALE MORTGAGE, LLC 9 2.53% $2,773
FIRST COMMUNITY MORTGAGE, INC. 8 2.83% $6,874
BROKER SOLUTIONS, INC. 8 2.81% $7,656
CMG MORTGAGE, INC. 8 3.44% $6,160
Carrington Mortgage Services, LLC 7 3.39% $3,094
CALIBER HOME LOANS, INC. 7 2.61% $3,102
GUILD MORTGAGE COMPANY 7 2.41% $6,858
CLEARPATH LENDING 7 2.11% $2,810
Low VA Rates, LLC 7 2.36% $6,176
FirstBank 7 2.88% $5,522
Renasant Bank 6 3.10% $4,003
ASCEND FEDERAL CREDIT UNION 6 2.44% $7,729
LAKEVIEW LOAN SERVICING, LLC 5 2.65% $2,083
Hometown Lenders, Inc. 5 2.70% $10,536
Wells Fargo Bank 4 2.28% $8,590
CROSSCOUNTRY MORTGAGE, LLC 4 2.63% $12,012
F&M Bank 4 2.63% $10,562
HOME POINT FINANCIAL CORPORATION 4 2.19% $4,138
Legends Bank 4 2.75% $2,649
AMERISAVE MORTGAGE CORPORATION 3 2.92% $7,025
GUARANTY HOME MORTGAGE CORPORATION 3 2.96% $9,474
NEWREZ LLC 3 2.46% $5,480
PENTAGON FEDERAL CREDIT UNION 3 2.33% $1,501
ISERVE RESIDENTIAL LENDING, LLC 3 2.88% $3,506
Flagstar Bank, FSB 3 2.65% $1,820
SmartBank 3 2.33% $5,362
CapStar Bank 3 2.46% $5,207
INTERLINC MORTGAGE SERVICES, LLC 2 3.19% $4,243
SUCCESS MORTGAGE PARTNERS, INC. 2 3.56% $3,361
SWBC MORTGAGE CORPORATION 2 3.13% $8,174
T2 FINANCIAL LLC 2 3.19% $5,601
The Federal Savings Bank 2 2.75% $11,209
The First National Bank of Middle Tennessee 2 2.81% $8,514
Total Media Management, LLC 2 2.38% $2,451
BNC National Bank 2 2.44% $2,532
AMERICAN FINANCING CORPORATION 2 2.75% $9,110
U.S. Bank 2 2.44% $2,827
AMERICAN FINANCIAL NETWORK, INC. 2 2.75% $10,816
Mid-Continent Funding, Inc. 2 2.38% $8,800
PLANET HOME LENDING, LLC 2 2.56% $1,655
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.00% $4,279
Barrington Bank & Trust Company, N.A. 2 2.69% $3,252
ACCELERATE MORTGAGE, LLC 2 2.00% $5,239
Citizens Tri-County Bank 2 3.13% $2,660
MOVEMENT MORTGAGE, LLC 2 2.63% $1,265
CHURCHILL MORTGAGE CORPORATION 2 2.63% $3,605
SOUTHWEST FUNDING, LP 2 3.44% $7,289
VAN DYK MORTGAGE CORPORATION 1 2.75% $2,928
GENEVA FINANCIAL, LLC 1 3.50% $0
First Vision Bank of Tennessee 1 2.88% $2,460
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.63% $560
First Savings Bank 1 2.50% $11,164
Watermark Capital, Inc. 1 2.38% $3,085
First Federal Bank, A FSB 1 2.88% $3,157
Independent Bank 1 2.50% $7,343
InterContinental Capital Group, Inc 1 2.25% $1,967
Ixonia Bank 1 2.75% $28,210
First Federal Bank 1 2.75% $5,377
LAND HOME FINANCIAL SERVICES, INC. 1 2.88% $15,973
LIBERTY HOME MORTGAGE CORPORATION 1 3.25% $8,109
FBC MORTGAGE, LLC 1 2.25% $5,051
DAS Acquisition Company, LLC 1 2.88% $9,765
MORTGAGE INVESTORS GROUP, INC. 1 3.13% $10,109
M&T Bank 1 3.13% $2,427
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.88% $18,570
Pinnacle Bank 1 2.13% $10,899
PLAZA HOME MORTGAGE, INC. 1 2.50% $3,176
Regions Bank 1 3.75% $3,449
RELIANCE FIRST CAPITAL, LLC 1 2.75% $13,117
Bank of England 1 2.75% $13,297
ROYAL UNITED MORTGAGE LLC 1 3.25% $5,976
Sierra Pacific Mortgage Company, Inc. 1 3.63% $18,189
SOVEREIGN LENDING GROUP INCORPORATED 1 2.75% $4,755
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 3.13% $5,712
SUMMIT FUNDING, INC. 1 3.75% $5,474
United Fidelity Funding Corp. 1 2.38% $5,099
VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.63% $2,264

The top Tullahoma VA lender as defined by loan originations is Mortgage Research Center, LLC, with 56 VA loans originated. Their average total fees are $4,162, which is $320 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Tullahoma VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($1,944), VILLAGE CAPITAL MORTGAGE ($3,410), Mortgage Research Center, LLC ($4,162), QUICKEN LOANS, LLC ($4,482) and PENNYMAC LOAN SERVICES, LLC ($4,853).

The lowest rate Tullahoma VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION (2.34%), VILLAGE CAPITAL MORTGAGE (2.42%), QUICKEN LOANS, LLC (2.51%), PENNYMAC LOAN SERVICES, LLC (2.59%) and NAVY FEDERAL CREDIT UNION (2.60%).


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%) $370,204 (16.7%) 0.00 342
2018-02-01 $271,175 (32.3%) $385,218 (22.6%) 0.00 332
2018-03-01 $274,500 (28.7%) $383,548 (20.3%) 0.00 337
2018-04-01 $288,650 (31.3%) $383,515 (15.8%) 0.00 333
2018-05-01 $299,900 (11.1%) $395,757 (1.9%) 0.00 335
2018-06-01 $299,900 (13.4%) $396,066 (3.7%) 0.00 359
2018-07-01 $292,200 (2.5%) $395,178 (-0.1%) 0.00 362
2018-08-01 $283,049 (3.0%) $385,536 (0.0%) 0.00 365
2018-09-01 $269,450 (1.7%) $368,770 (-2.1%) 0.00 372
2018-10-01 $273,750 (2.4%) $372,721 (-1.9%) 0.00 375
2018-11-01 $269,000 (7.6%) $362,137 (-2.8%) 0.00 373
2018-12-01 $256,900 (0.8%) $341,789 (-9.7%) 0.00 367
2019-01-01 $256,900 (2.8%) $339,557 (-8.3%) 0.00 344
2019-02-01 $259,900 (-4.2%) $347,005 (-9.9%) 0.00 346
2019-03-01 $276,329 (0.7%) $365,252 (-4.8%) 0.00 321
2019-04-01 $282,829 (-2.0%) $376,239 (-1.9%) 0.00 301
2019-05-01 $302,425 (0.8%) $389,545 (-1.6%) 0.00 315
2019-06-01 $294,900 (-1.7%) $378,775 (-4.4%) 0.00 335
2019-07-01 $299,000 (2.3%) $398,890 (0.9%) 0.00 342
2019-08-01 $294,177 (3.9%) $396,398 (2.8%) 0.00 345
2019-09-01 $288,593 (7.1%) $396,911 (7.6%) 0.00 358
2019-10-01 $284,475 (3.9%) $397,252 (6.6%) 0.00 365
2019-11-01 $269,900 (0.3%) $391,388 (8.1%) 0.00 349
2019-12-01 $259,900 (1.2%) $368,550 (7.8%) 0.00 344
2020-01-01 $257,450 (0.2%) $366,651 (8.0%) 0.00 318
2020-02-01 $259,500 (-0.2%) $360,841 (4.0%) 0.00 303
2020-03-01 $288,475 (4.4%) $386,059 (5.7%) 0.00 287
2020-04-01 $279,900 (-1.0%) $380,357 (1.1%) 0.00 285
2020-05-01 $308,445 (2.0%) $403,866 (3.7%) 0.00 256
2020-06-01 $321,175 (8.9%) $405,360 (7.0%) 0.00 218
2020-07-01 $319,450 (6.8%) $394,718 (-1.1%) 0.00 202
2020-08-01 $329,900 (12.1%) $403,015 (1.7%) 0.00 179
2020-09-01 $309,950 (7.4%) $408,051 (2.8%) 0.00 152
2020-10-01 $315,000 (10.7%) $415,802 (4.7%) 0.00 150
2020-11-01 $296,475 (9.9%) $425,082 (8.6%) 0.00 141
2020-12-01 $279,900 (7.7%) $404,500 (9.8%) 0.00 140
2021-01-01 $267,400 (3.9%) $383,219 (4.5%) 0.00 136
2021-02-01 $289,900 (11.7%) $399,672 (10.8%) 0.00 120
2021-03-01 $296,925 (2.9%) $415,642 (7.7%) 0.00 108
2021-04-01 $349,900 (25.0%) $492,586 (29.5%) 0.00 101
2021-05-01 $409,900 (32.9%) $478,585 (18.5%) 0.00 118
2021-06-01 $384,725 (19.8%) $515,466 (27.2%) 0.00 120
2021-07-01 $369,900 (15.8%) $498,063 (26.2%) 0.00 149
2021-08-01 $382,975 (16.1%) $505,189 (25.4%) 0.00 172
2021-09-01 $386,975 (24.9%) $511,142 (25.3%) 0.00 187
2021-10-01 $379,900 (20.6%) $552,041 (32.8%) 0.00 175
2021-11-01 $391,825 (32.2%) $569,958 (34.1%) 0.00 179
2021-12-01 $374,950 (34.0%) $568,365 (40.5%) 0.00 160
2022-01-01 $379,450 (41.9%) $562,369 (46.8%) 0.00 136
2022-02-01 $398,075 (37.3%) $570,642 (42.8%) 0.00 133
2022-03-01 $384,900 (29.6%) $582,993 (40.3%) 0.00 148
2022-04-01 $429,000 (22.6%) $573,832 (16.5%) 0.00 178
2022-05-01 $437,425 (6.7%) $601,535 (25.7%) 0.00 220
2022-06-01 $449,900 (16.9%) $599,346 (16.3%) 0.00 277
2022-07-01 $448,500 (21.3%) $588,550 (18.2%) 0.00 320
2022-08-01 $458,150 (19.6%) $606,377 (20.0%) 0.00 345
2022-09-01 $467,450 (20.8%) $637,273 (24.7%) 0.00 346
2022-10-01 $399,900 (5.3%) $583,913 (5.8%) 0.00 422
2022-11-01 $399,900 (2.1%) $567,487 (-0.4%) 0.00 420
Tullahoma's median listing price for 2022-11-01 was $399,900, a difference of $8,075 (2.1%) versus the prior year and $0 versus the prior month.

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

Tullahoma's average listing price for 2022-11-01 was $567,487, a difference of $-2,471 (-0.4%) versus the prior year and $-16,426 versus the prior month.

For the 2022-11-01 period, Tullahoma had 420 MLS listings, a difference of -2 listings (0%) versus the prior month and 241 listings (135%) 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 2,210 sqft
2018-02-01 0 days 2,285 sqft
2018-03-01 0 days 2,269 sqft
2018-04-01 0 days 2,291 sqft
2018-05-01 0 days 2,413 sqft
2018-06-01 0 days 2,421 sqft
2018-07-01 0 days 2,421 sqft
2018-08-01 0 days 2,313 sqft
2018-09-01 0 days 2,282 sqft
2018-10-01 0 days 2,244 sqft
2018-11-01 0 days 2,257 sqft
2018-12-01 0 days 2,150 sqft
2019-01-01 0 days 2,156 sqft
2019-02-01 0 days 2,182 sqft
2019-03-01 0 days 2,271 sqft
2019-04-01 0 days 2,370 sqft
2019-05-01 0 days 2,454 sqft
2019-06-01 0 days 2,404 sqft
2019-07-01 0 days 2,414 sqft
2019-08-01 0 days 2,348 sqft
2019-09-01 0 days 2,300 sqft
2019-10-01 0 days 2,268 sqft
2019-11-01 0 days 2,254 sqft
2019-12-01 0 days 2,114 sqft
2020-01-01 0 days 2,094 sqft
2020-02-01 0 days 2,064 sqft
2020-03-01 0 days 2,223 sqft
2020-04-01 0 days 2,202 sqft
2020-05-01 0 days 2,270 sqft
2020-06-01 0 days 2,293 sqft
2020-07-01 0 days 2,273 sqft
2020-08-01 0 days 2,230 sqft
2020-09-01 0 days 2,171 sqft
2020-10-01 0 days 2,202 sqft
2020-11-01 0 days 2,122 sqft
2020-12-01 0 days 1,996 sqft
2021-01-01 0 days 1,941 sqft
2021-02-01 0 days 1,924 sqft
2021-03-01 0 days 1,877 sqft
2021-04-01 0 days 1,905 sqft
2021-05-01 0 days 1,917 sqft
2021-06-01 0 days 1,989 sqft
2021-07-01 0 days 1,960 sqft
2021-08-01 0 days 2,072 sqft
2021-09-01 0 days 2,087 sqft
2021-10-01 0 days 2,188 sqft
2021-11-01 0 days 2,169 sqft
2021-12-01 0 days 2,074 sqft
2022-01-01 0 days 2,019 sqft
2022-02-01 0 days 2,033 sqft
2022-03-01 0 days 2,017 sqft
2022-04-01 0 days 2,062 sqft
2022-05-01 0 days 2,134 sqft
2022-06-01 0 days 2,227 sqft
2022-07-01 0 days 2,193 sqft
2022-08-01 0 days 2,093 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
Tullahoma's median listing age (time on market) for 2022-11-01 was 0 days.

Tullahoma's median square footage for active listings during the 2022-11-01 period was 2,002 sqft. One year prior, the average listing was 2,169 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.