Union City VA Loan Rates, Closing Costs & Stats

Union City, 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.

    Union City's 18 lenders originated 36 VA loans during 2023. The total origination value was $6,400,000, with an average VA loan value of $177,778.

    Union City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Union City averaged 6.9% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Union City's average VA mortgage closing costs are $4,602.

    The average rate for the prior week (2024-04-12) was 6.53% and one month ago for the week of 2024-03-15, the average rate was 6.59%.

    The average rate one year ago was 6.08%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Union City 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 Union City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 10 6.72% $6,330
    Regions Bank 4 5.63% $3,365
    FIRST COMMUNITY MORTGAGE, INC. 2 6.31% $4,948
    Leaders Credit Union 2 7.19% $2,816
    NEW DAY FINANCIAL, LLC 2 7.94% $11,045
    Mid-Continent Funding, Inc. 1 5.99% $8,101
    MILEND, INC. 1 7.25% $8,950
    MORTGAGE INVESTORS GROUP, INC. 1 5.75% $86
    MORTGAGEONE, INC. 1 7.75% $4,419
    QUICKEN LOANS, LLC 1 5.50% $11,397
    RELIANCE FIRST CAPITAL, LLC 1 7.25% $7,364
    UNITED WHOLESALE MORTGAGE, LLC 1 6.12% $6,465
    CARDINAL FINANCIAL 1 7.13% $11,649
    USAA Federal Savings Bank 1 5.63% $3,613
    CMG MORTGAGE, INC. 1 7.50% $4,668
    Equity Prime Mortgage LLC 1 7.50% $8,977
    FREEDOM MORTGAGE CORPORATION 1 6.50% $11,293
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.13% $9,371

    The top Union City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 10 VA loans originated. Their average total fees are $6,330, which is $2,964 higher than the next largest lender, Regions Bank.

    The lowest fee Union City VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,330), .

    The lowest rate Union City VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.72%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Union City (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 $114,900 (7.0%) $140,077 (10.2%) 0.00 133
    2018-02-01 $119,250 (8.5%) $144,420 (11.7%) 0.00 140
    2018-03-01 $117,450 (4.8%) $147,965 (12.4%) 0.00 147
    2018-04-01 $119,900 (4.3%) $155,299 (17.2%) 0.00 150
    2018-05-01 $119,450 (0.6%) $148,546 (11.4%) 0.00 149
    2018-06-01 $119,900 (0.4%) $143,954 (7.7%) 0.00 153
    2018-07-01 $129,600 (8.1%) $151,712 (14.2%) 0.00 156
    2018-08-01 $134,200 (9.6%) $156,051 (15.7%) 0.00 156
    2018-09-01 $120,000 (0.0%) $151,694 (11.1%) 0.00 147
    2018-10-01 $119,900 (3.9%) $141,610 (6.4%) 0.00 143
    2018-11-01 $124,750 (8.6%) $141,972 (6.3%) 0.00 141
    2018-12-01 $129,700 (13.3%) $143,512 (4.7%) 0.00 124
    2019-01-01 $122,450 (6.6%) $137,691 (-1.7%) 0.00 131
    2019-02-01 $119,900 (0.6%) $138,251 (-4.3%) 0.00 120
    2019-03-01 $131,136 (11.7%) $146,467 (-1.0%) 0.00 105
    2019-04-01 $138,411 (15.4%) $153,418 (-1.2%) 0.00 90
    2019-05-01 $131,250 (9.9%) $151,118 (1.7%) 0.00 91
    2019-06-01 $137,000 (14.3%) $154,311 (7.2%) 0.00 91
    2019-07-01 $131,825 (1.7%) $153,921 (1.5%) 0.00 88
    2019-08-01 $133,936 (-0.2%) $155,961 (-0.1%) 0.00 84
    2019-09-01 $133,916 (11.6%) $157,211 (3.6%) 0.00 77
    2019-10-01 $133,902 (11.7%) $158,037 (11.6%) 0.00 71
    2019-11-01 $133,900 (7.3%) $154,666 (8.9%) 0.00 64
    2019-12-01 $132,450 (2.1%) $156,678 (9.2%) 0.00 64
    2020-01-01 $129,900 (6.1%) $156,161 (13.4%) 0.00 67
    2020-02-01 $134,900 (12.5%) $162,850 (17.8%) 0.00 67
    2020-03-01 $132,400 (1.0%) $172,465 (17.8%) 0.00 69
    2020-04-01 $133,675 (-3.4%) $180,381 (17.6%) 0.00 61
    2020-05-01 $144,900 (10.4%) $193,291 (27.9%) 0.00 52
    2020-06-01 $149,500 (9.1%) $189,783 (23.0%) 0.00 53
    2020-07-01 $149,700 (13.6%) $187,670 (21.9%) 0.00 45
    2020-08-01 $149,500 (11.6%) $179,827 (15.3%) 0.00 39
    2020-09-01 $146,050 (9.1%) $184,529 (17.4%) 0.00 42
    2020-10-01 $147,200 (9.9%) $187,710 (18.8%) 0.00 41
    2020-11-01 $150,000 (12.0%) $227,690 (47.2%) 0.00 37
    2020-12-01 $129,900 (-1.9%) $207,210 (32.3%) 0.00 35
    2021-01-01 $149,750 (15.3%) $224,545 (43.8%) 0.00 35
    2021-02-01 $149,625 (10.9%) $231,845 (42.4%) 0.00 32
    2021-03-01 $157,875 (19.2%) $241,690 (40.1%) 0.00 26
    2021-04-01 $192,350 (43.9%) $239,775 (32.9%) 0.00 29
    2021-05-01 $182,500 (26.0%) $239,604 (24.0%) 0.00 23
    2021-06-01 $188,100 (25.8%) $232,929 (22.7%) 0.00 27
    2021-07-01 $169,000 (12.9%) $224,741 (19.8%) 0.00 30
    2021-08-01 $172,225 (15.2%) $229,420 (27.6%) 0.00 33
    2021-09-01 $145,250 (-0.6%) $194,677 (5.5%) 0.00 37
    2021-10-01 $159,950 (8.7%) $217,995 (16.1%) 0.00 34
    2021-11-01 $156,000 (4.0%) $204,033 (-10.4%) 0.00 35
    2021-12-01 $157,225 (21.0%) $198,037 (-4.4%) 0.00 33
    2022-01-01 $144,900 (-3.2%) $171,363 (-23.7%) 0.00 27
    2022-02-01 $142,450 (-4.8%) $154,421 (-33.4%) 0.00 23
    2022-03-01 $144,975 (-8.2%) $196,055 (-18.9%) 0.00 25
    2022-04-01 $145,000 (-24.6%) $208,477 (-13.1%) 0.00 20
    2022-05-01 $138,625 (-24.0%) $189,575 (-20.9%) 0.00 20
    2022-06-01 $140,575 (-25.3%) $181,117 (-22.2%) 0.00 23
    2022-07-01 $149,900 (-11.3%) $167,162 (-25.6%) 0.00 33
    2022-08-01 $169,750 (-1.4%) $207,699 (-9.5%) 0.00 39
    2022-09-01 $159,475 (9.8%) $220,403 (13.2%) 0.00 44
    2022-10-01 $159,500 (-0.3%) $206,776 (-5.2%) 0.00 50
    2022-11-01 $154,700 (-0.8%) $200,768 (-1.6%) 0.00 53
    2022-12-01 $159,900 (1.7%) $201,811 (1.9%) 0.00 55
    2023-01-01 $160,000 (10.4%) $218,483 (27.5%) 0.00 56
    2023-02-01 $165,000 (15.8%) $220,762 (43.0%) 0.00 57
    2023-03-01 $182,300 (25.8%) $216,026 (10.2%) 0.00 50
    2023-04-01 $187,000 (29.0%) $227,838 (9.3%) 0.00 42
    2023-05-01 $176,200 (27.1%) $202,532 (6.8%) 0.00 39
    2023-06-01 $177,975 (26.6%) $202,916 (12.0%) 0.00 42
    2023-07-01 $175,900 (17.3%) $202,858 (21.4%) 0.00 38
    2023-08-01 $194,688 (14.7%) $218,562 (5.2%) 0.00 45
    2023-09-01 $209,000 (31.1%) $231,415 (5.0%) 0.00 52
    2023-10-01 $213,700 (34.0%) $228,877 (10.7%) 0.00 52
    2023-11-01 $209,450 (35.4%) $228,204 (13.7%) 0.00 55
    2023-12-01 $214,900 (34.4%) $230,335 (14.1%) 0.00 53
    2024-01-01 $213,200 (33.3%) $219,139 (0.3%) 0.00 53
    2024-02-01 $197,450 (19.7%) $202,963 (-8.1%) 0.00 53
    2024-03-01 $199,999 (9.7%) $230,179 (6.6%) 0.00 55
    Union City's median listing price for 2024-03-01 was $199,999, a difference of $17,699 (9.7%) versus the prior year and $2,549 versus the prior month.

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

    Union City's average listing price for 2024-03-01 was $230,179, a difference of $14,153 (6.6%) versus the prior year and $27,216 versus the prior month.

    For the 2024-03-01 period, Union City had 55 MLS listings, a difference of 2 listings (4%) versus the prior month and 5 listings (10%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Union City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,729 sqft
    2018-02-01 0 days 1,731 sqft
    2018-03-01 0 days 1,796 sqft
    2018-04-01 0 days 1,862 sqft
    2018-05-01 0 days 1,834 sqft
    2018-06-01 0 days 1,792 sqft
    2018-07-01 0 days 1,809 sqft
    2018-08-01 0 days 1,823 sqft
    2018-09-01 0 days 1,800 sqft
    2018-10-01 0 days 1,713 sqft
    2018-11-01 0 days 1,684 sqft
    2018-12-01 0 days 1,590 sqft
    2019-01-01 0 days 1,591 sqft
    2019-02-01 0 days 1,616 sqft
    2019-03-01 0 days 1,694 sqft
    2019-04-01 0 days 1,716 sqft
    2019-05-01 0 days 1,652 sqft
    2019-06-01 0 days 1,728 sqft
    2019-07-01 0 days 1,718 sqft
    2019-08-01 0 days 1,720 sqft
    2019-09-01 0 days 1,716 sqft
    2019-10-01 0 days 1,713 sqft
    2019-11-01 0 days 1,701 sqft
    2019-12-01 0 days 1,710 sqft
    2020-01-01 0 days 1,722 sqft
    2020-02-01 0 days 1,747 sqft
    2020-03-01 0 days 1,745 sqft
    2020-04-01 0 days 1,745 sqft
    2020-05-01 0 days 1,832 sqft
    2020-06-01 0 days 1,841 sqft
    2020-07-01 0 days 1,769 sqft
    2020-08-01 0 days 1,680 sqft
    2020-09-01 0 days 1,776 sqft
    2020-10-01 0 days 1,855 sqft
    2020-11-01 0 days 1,914 sqft
    2020-12-01 0 days 1,680 sqft
    2021-01-01 0 days 1,804 sqft
    2021-02-01 0 days 1,804 sqft
    2021-03-01 0 days 1,758 sqft
    2021-04-01 0 days 1,857 sqft
    2021-05-01 0 days 1,974 sqft
    2021-06-01 0 days 1,898 sqft
    2021-07-01 0 days 1,644 sqft
    2021-08-01 0 days 1,607 sqft
    2021-09-01 0 days 1,561 sqft
    2021-10-01 0 days 1,624 sqft
    2021-11-01 0 days 1,687 sqft
    2021-12-01 0 days 1,696 sqft
    2022-01-01 0 days 1,586 sqft
    2022-02-01 0 days 1,480 sqft
    2022-03-01 0 days 1,531 sqft
    2022-04-01 0 days 1,565 sqft
    2022-05-01 0 days 1,427 sqft
    2022-06-01 0 days 1,447 sqft
    2022-07-01 0 days 1,337 sqft
    2022-08-01 0 days 1,589 sqft
    2022-09-01 0 days 1,548 sqft
    2022-10-01 0 days 1,572 sqft
    2022-11-01 0 days 1,563 sqft
    2022-12-01 0 days 1,563 sqft
    2023-01-01 0 days 1,535 sqft
    2023-02-01 0 days 1,476 sqft
    2023-03-01 0 days 1,509 sqft
    2023-04-01 0 days 1,549 sqft
    2023-05-01 0 days 1,559 sqft
    2023-06-01 0 days 1,547 sqft
    2023-07-01 0 days 1,518 sqft
    2023-08-01 0 days 1,532 sqft
    2023-09-01 0 days 1,648 sqft
    2023-10-01 0 days 1,700 sqft
    2023-11-01 0 days 1,636 sqft
    2023-12-01 0 days 1,772 sqft
    2024-01-01 0 days 1,650 sqft
    2024-02-01 0 days 1,634 sqft
    2024-03-01 0 days 1,756 sqft
    Union City's median listing age (time on market) for 2024-03-01 was 0 days.

    Union City's median square footage for active listings during the 2024-03-01 period was 1,756 sqft. One year prior, the average listing was 1,509 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.