Tupelo VA Loan Rates, Closing Costs & Stats

Tupelo, MS

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Tupelo's 33 lenders originated 157 VA loans during 2023. The total origination value was $37,035,000, with an average VA loan value of $235,892.

    Tupelo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Tupelo averaged 6.69% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Tupelo's average VA mortgage closing costs are $5,154.

    The average rate for the prior week (2024-04-12) was 6.72% and one month ago for the week of 2024-03-15, the average rate was 6.59%.

    The average rate one year ago was 6.28%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.09%.

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

    Tupelo 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 Tupelo level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 53 6.85% $4,337
    STOCKTON MORTGAGE CORPORATION 16 6.19% $9,427
    USAA Federal Savings Bank 9 6.32% $7,532
    Flagstar Bank, FSB 7 6.57% $7,150
    QUICKEN LOANS, LLC 7 6.16% $9,568
    NAVY FEDERAL CREDIT UNION 6 6.15% $2,200
    BancorpSouth 5 6.55% $10,931
    CROSSCOUNTRY MORTGAGE, LLC 5 7.01% $6,044
    LOANDEPOT.COM, LLC 4 6.31% $7,913
    PENNYMAC LOAN SERVICES, LLC 4 5.16% $4,941
    Renasant Bank 4 6.63% $4,348
    MOVEMENT MORTGAGE, LLC 3 6.42% $7,887
    CARDINAL FINANCIAL 2 5.50% $5,648
    Regions Bank 2 6.81% $9,016
    NEW DAY FINANCIAL, LLC 2 7.68% $8,645
    Trustmark National Bank 2 6.06% $4,521
    UNITED WHOLESALE MORTGAGE, LLC 2 7.75% $7,671
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 8.25% $3,863
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.37% $15,963
    Nations Lending Corporation 1 6.75% $5,176
    EMBRACE HOME LOANS, INC. 1 5.63% $13,186
    PLAZA HOME MORTGAGE, INC. 1 7.25% $9,656
    Bank of England 1 6.00% $6,770
    Barrington Bank & Trust Company, N.A. 1 7.75% $5,434
    Equity Prime Mortgage LLC 1 5.38% $1,575
    CB&S Bank, Inc. 1 6.75% $4,697
    FREEDOM MORTGAGE CORPORATION 1 6.75% $14,817
    GENEVA FINANCIAL, LLC 1 7.50% $152
    GUARANTEED RATE, INC. 1 7.25% $790
    GUILD MORTGAGE COMPANY 1 6.63% $16,264
    AMERISAVE MORTGAGE CORPORATION 1 5.25% $14,447
    Mid-Continent Funding, Inc. 1 6.75% $6,517
    Community Bank of Mississippi 1 6.63% $12,265

    The top Tupelo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 53 VA loans originated. Their average total fees are $4,337, which is $5,089 lower than the next largest lender, STOCKTON MORTGAGE CORPORATION.

    The lowest fee Tupelo VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,337), STOCKTON MORTGAGE CORPORATION ($9,427), .

    The lowest rate Tupelo VA lenders (with over 10 loans originated) are STOCKTON MORTGAGE CORPORATION (6.19%), Mortgage Research Center, LLC (6.85%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Tupelo (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 $165,000 (8.0%) $204,557 (2.7%) 0.61 542
    2018-02-01 $172,500 (15.1%) $209,031 (3.4%) 0.63 541
    2018-03-01 $173,900 (11.9%) $208,152 (0.6%) 0.61 554
    2018-04-01 $178,212 (8.7%) $210,885 (0.4%) 0.60 590
    2018-05-01 $178,788 (10.0%) $211,648 (2.7%) 0.60 586
    2018-06-01 $175,000 (6.1%) $212,484 (1.8%) 0.58 597
    2018-07-01 $179,000 (8.5%) $215,890 (2.3%) 0.60 612
    2018-08-01 $179,250 (13.0%) $218,899 (6.6%) 0.60 598
    2018-09-01 $179,000 (12.2%) $226,441 (13.3%) 0.60 585
    2018-10-01 $175,475 (9.7%) $224,943 (13.0%) 0.59 548
    2018-11-01 $175,500 (8.6%) $224,490 (10.3%) 0.59 528
    2018-12-01 $175,000 (6.4%) $223,387 (9.8%) 0.60 496
    2019-01-01 $175,000 (6.1%) $225,532 (10.3%) 0.60 482
    2019-02-01 $177,800 (3.1%) $228,004 (9.1%) 0.60 484
    2019-03-01 $188,357 (8.3%) $237,258 (14.0%) 0.62 485
    2019-04-01 $200,950 (12.8%) $246,554 (16.9%) 0.64 481
    2019-05-01 $204,500 (14.4%) $244,785 (15.7%) 0.64 499
    2019-06-01 $199,900 (14.2%) $249,725 (17.5%) 0.62 497
    2019-07-01 $198,850 (11.1%) $248,696 (15.2%) 0.62 510
    2019-08-01 $197,027 (9.9%) $245,069 (12.0%) 0.62 505
    2019-09-01 $193,018 (7.8%) $239,920 (6.0%) 0.62 503
    2019-10-01 $189,900 (8.2%) $237,814 (5.7%) 0.61 495
    2019-11-01 $188,400 (7.4%) $233,265 (3.9%) 0.62 475
    2019-12-01 $184,900 (5.7%) $229,142 (2.6%) 0.62 462
    2020-01-01 $182,175 (4.1%) $229,243 (1.7%) 0.61 447
    2020-02-01 $182,500 (2.6%) $227,977 (0.0%) 0.60 463
    2020-03-01 $187,750 (-0.3%) $236,568 (-0.3%) 0.59 445
    2020-04-01 $189,950 (-5.5%) $243,608 (-1.2%) 0.60 425
    2020-05-01 $189,950 (-7.1%) $246,282 (0.6%) 0.58 389
    2020-06-01 $199,700 (-0.1%) $260,814 (4.4%) 0.59 353
    2020-07-01 $215,000 (8.1%) $270,310 (8.7%) 0.62 339
    2020-08-01 $212,000 (7.6%) $269,191 (9.8%) 0.61 322
    2020-09-01 $209,000 (8.3%) $269,700 (12.4%) 0.60 310
    2020-10-01 $215,000 (13.2%) $277,019 (16.5%) 0.62 287
    2020-11-01 $219,975 (16.8%) $284,817 (22.1%) 0.64 281
    2020-12-01 $219,225 (18.6%) $289,261 (26.2%) 0.65 282
    2021-01-01 $212,450 (16.6%) $282,564 (23.3%) 0.63 255
    2021-02-01 $210,450 (15.3%) $270,233 (18.5%) 0.61 235
    2021-03-01 $224,450 (19.6%) $269,407 (13.9%) 0.64 213
    2021-04-01 $223,425 (17.6%) $281,700 (15.6%) 0.60 188
    2021-05-01 $200,000 (5.3%) $270,562 (9.9%) 0.53 200
    2021-06-01 $225,725 (13.0%) $286,807 (10.0%) 0.59 218
    2021-07-01 $219,900 (2.3%) $284,620 (5.3%) 0.58 229
    2021-08-01 $222,450 (4.9%) $294,621 (9.5%) 0.59 241
    2021-09-01 $229,475 (9.8%) $296,011 (9.8%) 0.61 245
    2021-10-01 $232,000 (7.9%) $302,595 (9.2%) 0.62 274
    2021-11-01 $240,000 (9.1%) $309,330 (8.6%) 0.64 252
    2021-12-01 $238,363 (8.7%) $299,525 (3.6%) 0.65 241
    2022-01-01 $235,275 (10.7%) $288,271 (2.0%) 0.64 212
    2022-02-01 $237,400 (12.8%) $292,366 (8.2%) 0.62 178
    2022-03-01 $244,000 (8.7%) $293,143 (8.8%) 0.61 175
    2022-04-01 $249,900 (11.9%) $296,327 (5.2%) 0.60 182
    2022-05-01 $238,675 (19.3%) $290,720 (7.5%) 0.55 215
    2022-06-01 $249,900 (10.7%) $286,200 (-0.2%) 0.56 255
    2022-07-01 $249,900 (13.6%) $288,507 (1.4%) 0.56 292
    2022-08-01 $250,625 (12.7%) $293,585 (-0.4%) 0.58 328
    2022-09-01 $249,950 (8.9%) $291,462 (-1.5%) 0.58 344
    2022-10-01 $250,000 (7.8%) $291,456 (-3.7%) 0.59 360
    2022-11-01 $250,000 (4.2%) $288,879 (-6.6%) 0.60 355
    2022-12-01 $249,450 (4.7%) $290,129 (-3.1%) 0.62 323
    2023-01-01 $257,000 (9.2%) $296,772 (3.0%) 0.64 280
    2023-02-01 $259,950 (9.5%) $306,204 (4.7%) 0.63 267
    2023-03-01 $264,975 (8.6%) $308,299 (5.2%) 0.62 257
    2023-04-01 $259,900 (4.0%) $309,036 (4.3%) 0.60 267
    2023-05-01 $275,000 (15.2%) $320,325 (10.2%) 0.62 268
    2023-06-01 $273,575 (9.5%) $327,616 (14.5%) 0.61 285
    2023-07-01 $272,000 (8.8%) $320,343 (11.0%) 0.62 281
    2023-08-01 $259,950 (3.7%) $317,516 (8.2%) 0.60 297
    2023-09-01 $254,950 (2.0%) $302,976 (4.0%) 0.59 323
    2023-10-01 $249,575 (-0.2%) $297,326 (2.0%) 0.59 339
    2023-11-01 $252,450 (1.0%) $303,562 (5.1%) 0.60 362
    2023-12-01 $249,999 (0.2%) $302,366 (4.2%) 0.61 356
    2024-01-01 $257,450 (0.2%) $309,658 (4.3%) 0.63 341
    2024-02-01 $262,400 (0.9%) $309,560 (1.1%) 0.63 330
    2024-03-01 $262,500 (-0.9%) $314,424 (2.0%) 0.62 328
    Tupelo's median listing price for 2024-03-01 was $262,500, a difference of $-2,475 (-0.9%) versus the prior year and $100 versus the prior month.

    Tupelo's median listing price comes in at 62% of the national average.

    Tupelo's average listing price for 2024-03-01 was $314,424, a difference of $6,125 (2.0%) versus the prior year and $4,864 versus the prior month.

    For the 2024-03-01 period, Tupelo had 328 MLS listings, a difference of -2 listings (-1%) versus the prior month and 71 listings (28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Tupelo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 92 days 2,001 sqft
    2018-02-01 86 days 2,058 sqft
    2018-03-01 68 days 2,029 sqft
    2018-04-01 68 days 2,099 sqft
    2018-05-01 72 days 2,102 sqft
    2018-06-01 74 days 2,047 sqft
    2018-07-01 80 days 2,088 sqft
    2018-08-01 81 days 2,101 sqft
    2018-09-01 81 days 2,100 sqft
    2018-10-01 88 days 2,081 sqft
    2018-11-01 87 days 2,100 sqft
    2018-12-01 95 days 2,090 sqft
    2019-01-01 100 days 2,132 sqft
    2019-02-01 86 days 2,136 sqft
    2019-03-01 76 days 2,170 sqft
    2019-04-01 72 days 2,228 sqft
    2019-05-01 66 days 2,226 sqft
    2019-06-01 68 days 2,230 sqft
    2019-07-01 77 days 2,240 sqft
    2019-08-01 76 days 2,218 sqft
    2019-09-01 71 days 2,182 sqft
    2019-10-01 71 days 2,166 sqft
    2019-11-01 81 days 2,144 sqft
    2019-12-01 90 days 2,101 sqft
    2020-01-01 100 days 2,060 sqft
    2020-02-01 93 days 2,029 sqft
    2020-03-01 85 days 2,060 sqft
    2020-04-01 85 days 2,091 sqft
    2020-05-01 92 days 2,143 sqft
    2020-06-01 90 days 2,199 sqft
    2020-07-01 86 days 2,233 sqft
    2020-08-01 68 days 2,183 sqft
    2020-09-01 60 days 2,174 sqft
    2020-10-01 66 days 2,253 sqft
    2020-11-01 65 days 2,300 sqft
    2020-12-01 72 days 2,288 sqft
    2021-01-01 83 days 2,263 sqft
    2021-02-01 75 days 2,148 sqft
    2021-03-01 52 days 2,145 sqft
    2021-04-01 46 days 2,145 sqft
    2021-05-01 43 days 2,094 sqft
    2021-06-01 37 days 2,140 sqft
    2021-07-01 45 days 2,123 sqft
    2021-08-01 46 days 2,145 sqft
    2021-09-01 55 days 2,127 sqft
    2021-10-01 61 days 2,145 sqft
    2021-11-01 59 days 2,103 sqft
    2021-12-01 71 days 2,123 sqft
    2022-01-01 80 days 2,096 sqft
    2022-02-01 70 days 2,140 sqft
    2022-03-01 46 days 2,100 sqft
    2022-04-01 39 days 2,112 sqft
    2022-05-01 41 days 2,048 sqft
    2022-06-01 40 days 2,036 sqft
    2022-07-01 41 days 2,070 sqft
    2022-08-01 49 days 2,064 sqft
    2022-09-01 55 days 2,048 sqft
    2022-10-01 66 days 2,082 sqft
    2022-11-01 77 days 2,100 sqft
    2022-12-01 87 days 2,090 sqft
    2023-01-01 85 days 2,112 sqft
    2023-02-01 78 days 2,098 sqft
    2023-03-01 67 days 2,152 sqft
    2023-04-01 60 days 2,150 sqft
    2023-05-01 52 days 2,204 sqft
    2023-06-01 47 days 2,190 sqft
    2023-07-01 53 days 2,076 sqft
    2023-08-01 58 days 2,102 sqft
    2023-09-01 60 days 2,100 sqft
    2023-10-01 59 days 2,010 sqft
    2023-11-01 53 days 1,979 sqft
    2023-12-01 65 days 1,956 sqft
    2024-01-01 77 days 2,013 sqft
    2024-02-01 89 days 2,029 sqft
    2024-03-01 68 days 2,066 sqft
    Tupelo's median listing age (time on market) for 2024-03-01 was 68 days. This is 2% longer than the same period one year ago.

    Tupelo's median square footage for active listings during the 2024-03-01 period was 2,066 sqft. One year prior, the average listing was 2,152 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.