Vernal VA Loan Rates, Closing Costs & Stats

Vernal, UT

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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.

    Vernal's 16 lenders originated 41 VA loans during 2023. The total origination value was $13,635,000, with an average VA loan value of $332,561.

    Vernal VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Vernal averaged 0.22% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Vernal's average VA mortgage closing costs are $5,907.

    The average rate for the prior week (2024-11-08) was 6.63% and one month ago for the week of 2024-10-11, the average rate was 6%.

    The average rate one year ago was 7.29%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.1%.

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

    Vernal 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 Vernal level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 7 6.66% $7,937
    UNITED WHOLESALE MORTGAGE, LLC 7 6.02% $5,185
    INTERCAP LENDING INC. 5 6.70% $5,348
    FREEDOM MORTGAGE CORPORATION 4 6.66% $14,457
    GUILD MORTGAGE COMPANY 3 7.08% $18,871
    PENNYMAC LOAN SERVICES, LLC 2 5.25% $17,574
    VILLAGE CAPITAL MORTGAGE 2 5.75% $15,935
    MOUNTAIN AMERICA 2 6.44% $7,893
    QUICKEN LOANS, LLC 2 6.37% $7,964
    Northpointe Bank 1 7.25% $20,480
    LOANDEPOT.COM, LLC 1 6.25% $11,667
    MORTGAGEONE, INC. 1 7.75% $8,288
    FIRST COLONY MORTGAGE CORPORATION 1 6.88% $365
    RANLIFE, INC. 1 5.50% $5,362
    U.S. Bank 1 5.99% $4,485
    Victorian Finance, LLC 1 5.75% $17,134

    The top Vernal VA lender as defined by loan originations is Mortgage Research Center, LLC, with 7 VA loans originated. Their average total fees are $7,937, which is $2,752 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Vernal (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 $169,900 (2.3%) $202,383 (0.6%) 0.00 259
    2018-02-01 $175,900 (5.9%) $208,633 (4.1%) 0.00 251
    2018-03-01 $187,250 (13.5%) $216,863 (8.8%) 0.00 233
    2018-04-01 $189,450 (11.8%) $218,976 (7.2%) 0.00 242
    2018-05-01 $209,900 (18.4%) $231,150 (8.6%) 0.00 247
    2018-06-01 $205,000 (11.7%) $229,188 (4.2%) 0.00 272
    2018-07-01 $202,450 (12.9%) $231,727 (9.9%) 0.00 284
    2018-08-01 $199,900 (13.6%) $227,815 (8.5%) 0.00 297
    2018-09-01 $189,000 (8.1%) $226,913 (9.0%) 0.00 283
    2018-10-01 $186,950 (7.2%) $226,621 (9.5%) 0.00 302
    2018-11-01 $190,600 (10.5%) $225,502 (10.4%) 0.00 294
    2018-12-01 $180,000 (3.3%) $221,052 (7.6%) 0.00 275
    2019-01-01 $188,250 (10.8%) $220,119 (8.8%) 0.00 262
    2019-02-01 $189,675 (7.8%) $220,993 (5.9%) 0.00 240
    2019-03-01 $200,000 (6.8%) $232,882 (7.4%) 0.00 225
    2019-04-01 $212,500 (12.2%) $245,200 (12.0%) 0.00 227
    2019-05-01 $219,950 (4.8%) $253,187 (9.5%) 0.00 256
    2019-06-01 $225,500 (10.0%) $255,144 (11.3%) 0.00 266
    2019-07-01 $224,950 (11.1%) $251,640 (8.6%) 0.00 270
    2019-08-01 $214,427 (7.3%) $243,374 (6.8%) 0.00 265
    2019-09-01 $206,143 (9.1%) $238,456 (5.1%) 0.00 259
    2019-10-01 $207,770 (11.1%) $239,911 (5.9%) 0.00 238
    2019-11-01 $215,000 (12.8%) $242,852 (7.7%) 0.00 214
    2019-12-01 $212,750 (18.2%) $237,873 (7.6%) 0.00 199
    2020-01-01 $210,000 (11.6%) $235,536 (7.0%) 0.00 196
    2020-02-01 $215,500 (13.6%) $242,775 (9.9%) 0.00 201
    2020-03-01 $218,700 (9.4%) $246,681 (5.9%) 0.00 171
    2020-04-01 $223,750 (5.3%) $252,450 (3.0%) 0.00 180
    2020-05-01 $209,000 (-5.0%) $238,545 (-5.8%) 0.00 201
    2020-06-01 $209,725 (-7.0%) $236,215 (-7.4%) 0.00 196
    2020-07-01 $207,500 (-7.8%) $239,248 (-4.9%) 0.00 181
    2020-08-01 $199,250 (-7.1%) $237,251 (-2.5%) 0.00 161
    2020-09-01 $191,175 (-7.3%) $227,818 (-4.5%) 0.00 162
    2020-10-01 $175,250 (-15.7%) $217,488 (-9.4%) 0.00 164
    2020-11-01 $168,625 (-21.6%) $228,548 (-5.9%) 0.00 129
    2020-12-01 $175,575 (-17.5%) $239,349 (0.6%) 0.00 119
    2021-01-01 $189,950 (-9.6%) $247,028 (4.9%) 0.00 110
    2021-02-01 $194,200 (-9.9%) $229,128 (-5.6%) 0.00 109
    2021-03-01 $197,500 (-9.7%) $251,774 (2.1%) 0.00 85
    2021-04-01 $199,450 (-10.9%) $281,720 (11.6%) 0.00 86
    2021-05-01 $229,950 (10.0%) $340,984 (42.9%) 0.00 74
    2021-06-01 $266,475 (27.1%) $375,162 (58.8%) 0.00 65
    2021-07-01 $279,900 (34.9%) $396,679 (65.8%) 0.00 70
    2021-08-01 $279,250 (40.2%) $398,593 (68.0%) 0.00 74
    2021-09-01 $265,950 (39.1%) $365,572 (60.5%) 0.00 87
    2021-10-01 $302,450 (72.6%) $374,247 (72.1%) 0.00 63
    2021-11-01 $331,000 (96.3%) $400,920 (75.4%) 0.00 43
    2021-12-01 $314,950 (79.4%) $379,531 (58.6%) 0.00 42
    2022-01-01 $304,950 (60.5%) $383,185 (55.1%) 0.00 25
    2022-02-01 $302,400 (55.7%) $415,793 (81.5%) 0.00 29
    2022-03-01 $322,750 (63.4%) $458,479 (82.1%) 0.00 28
    2022-04-01 $311,950 (56.4%) $488,474 (73.4%) 0.00 31
    2022-05-01 $312,500 (35.9%) $443,853 (30.2%) 0.00 51
    2022-06-01 $347,225 (30.3%) $458,489 (22.2%) 0.00 49
    2022-07-01 $359,950 (28.6%) $453,612 (14.4%) 0.00 68
    2022-08-01 $373,675 (33.8%) $474,897 (19.1%) 0.00 73
    2022-09-01 $406,950 (53.0%) $505,842 (38.4%) 0.00 62
    2022-10-01 $405,000 (33.9%) $516,325 (38.0%) 0.00 71
    2022-11-01 $391,700 (18.3%) $482,727 (20.4%) 0.00 75
    2022-12-01 $399,900 (27.0%) $473,278 (24.7%) 0.00 66
    2023-01-01 $379,125 (24.3%) $457,088 (19.3%) 0.00 52
    2023-02-01 $376,875 (24.6%) $467,226 (12.4%) 0.00 50
    2023-03-01 $381,975 (18.4%) $487,391 (6.3%) 0.00 38
    2023-04-01 $510,000 (63.5%) $537,470 (10.0%) 0.00 46
    2023-05-01 $504,500 (61.4%) $537,408 (21.1%) 0.00 49
    2023-06-01 $471,450 (35.8%) $548,921 (19.7%) 0.00 62
    2023-07-01 $440,000 (22.2%) $537,936 (18.6%) 0.00 64
    2023-08-01 $424,925 (13.7%) $531,146 (11.8%) 0.00 62
    2023-09-01 $405,900 (-0.3%) $538,567 (6.5%) 0.00 79
    2023-10-01 $399,900 (-1.3%) $509,017 (-1.4%) 0.00 93
    2023-11-01 $408,175 (4.2%) $505,157 (4.7%) 0.00 99
    2023-12-01 $395,000 (-1.2%) $497,746 (5.2%) 0.00 93
    2024-01-01 $391,225 (3.2%) $490,322 (7.3%) 0.00 77
    2024-02-01 $427,500 (13.4%) $524,584 (12.3%) 0.00 72
    2024-03-01 $484,000 (26.7%) $531,194 (9.0%) 0.00 69
    2024-04-01 $474,500 (-7.0%) $531,347 (-1.1%) 0.00 69
    2024-05-01 $488,500 (-3.2%) $546,675 (1.7%) 0.00 84
    2024-06-01 $455,000 (-3.5%) $533,128 (-2.9%) 0.00 95
    2024-07-01 $428,500 (-2.6%) $524,842 (-2.4%) 0.00 113
    2024-08-01 $422,500 (-0.6%) $522,447 (-1.6%) 0.00 121
    2024-09-01 $392,000 (-3.4%) $498,528 (-7.4%) 0.00 123
    2024-10-01 $387,500 (-3.1%) $490,507 (-3.6%) 0.00 124
    Vernal's median listing price for 2024-10-01 was $387,500, a difference of $-12,400 (-3.1%) versus the prior year and $-4,500 versus the prior month.

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

    Vernal's average listing price for 2024-10-01 was $490,507, a difference of $-18,510 (-3.6%) versus the prior year and $-8,021 versus the prior month.

    For the 2024-10-01 period, Vernal had 124 MLS listings, a difference of 1 listings (1%) versus the prior month and 31 listings (33%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Vernal (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,782 sqft
    2018-02-01 0 days 1,805 sqft
    2018-03-01 0 days 1,836 sqft
    2018-04-01 0 days 1,872 sqft
    2018-05-01 0 days 1,963 sqft
    2018-06-01 0 days 1,950 sqft
    2018-07-01 0 days 1,922 sqft
    2018-08-01 0 days 1,842 sqft
    2018-09-01 0 days 1,815 sqft
    2018-10-01 0 days 1,839 sqft
    2018-11-01 0 days 1,800 sqft
    2018-12-01 0 days 1,695 sqft
    2019-01-01 0 days 1,702 sqft
    2019-02-01 0 days 1,713 sqft
    2019-03-01 0 days 1,841 sqft
    2019-04-01 0 days 1,941 sqft
    2019-05-01 0 days 2,008 sqft
    2019-06-01 0 days 2,080 sqft
    2019-07-01 0 days 2,011 sqft
    2019-08-01 0 days 1,940 sqft
    2019-09-01 0 days 1,898 sqft
    2019-10-01 0 days 1,901 sqft
    2019-11-01 0 days 1,885 sqft
    2019-12-01 0 days 1,906 sqft
    2020-01-01 0 days 1,881 sqft
    2020-02-01 0 days 1,888 sqft
    2020-03-01 0 days 1,860 sqft
    2020-04-01 0 days 1,891 sqft
    2020-05-01 0 days 1,839 sqft
    2020-06-01 0 days 1,838 sqft
    2020-07-01 0 days 1,810 sqft
    2020-08-01 0 days 1,759 sqft
    2020-09-01 0 days 1,615 sqft
    2020-10-01 0 days 1,588 sqft
    2020-11-01 0 days 1,520 sqft
    2020-12-01 0 days 1,506 sqft
    2021-01-01 0 days 1,604 sqft
    2021-02-01 0 days 1,583 sqft
    2021-03-01 0 days 1,616 sqft
    2021-04-01 0 days 1,606 sqft
    2021-05-01 0 days 1,788 sqft
    2021-06-01 0 days 1,952 sqft
    2021-07-01 0 days 1,986 sqft
    2021-08-01 0 days 2,329 sqft
    2021-09-01 0 days 2,002 sqft
    2021-10-01 0 days 2,341 sqft
    2021-11-01 0 days 2,450 sqft
    2021-12-01 0 days 2,340 sqft
    2022-01-01 0 days 1,994 sqft
    2022-02-01 0 days 2,170 sqft
    2022-03-01 0 days 2,224 sqft
    2022-04-01 0 days 1,894 sqft
    2022-05-01 0 days 1,713 sqft
    2022-06-01 0 days 1,928 sqft
    2022-07-01 0 days 2,016 sqft
    2022-08-01 0 days 2,100 sqft
    2022-09-01 0 days 2,336 sqft
    2022-10-01 0 days 2,608 sqft
    2022-11-01 0 days 2,498 sqft
    2022-12-01 0 days 2,568 sqft
    2023-01-01 0 days 2,581 sqft
    2023-02-01 0 days 2,450 sqft
    2023-03-01 0 days 2,550 sqft
    2023-04-01 0 days 2,940 sqft
    2023-05-01 0 days 3,000 sqft
    2023-06-01 0 days 2,745 sqft
    2023-07-01 0 days 2,696 sqft
    2023-08-01 0 days 2,411 sqft
    2023-09-01 0 days 2,401 sqft
    2023-10-01 0 days 2,394 sqft
    2023-11-01 0 days 2,420 sqft
    2023-12-01 0 days 2,384 sqft
    2024-01-01 0 days 2,450 sqft
    2024-02-01 0 days 2,608 sqft
    2024-03-01 0 days 2,774 sqft
    2024-04-01 0 days 2,540 sqft
    2024-05-01 0 days 2,568 sqft
    2024-06-01 0 days 2,378 sqft
    2024-07-01 0 days 2,239 sqft
    2024-08-01 0 days 2,250 sqft
    2024-09-01 0 days 2,142 sqft
    2024-10-01 0 days 2,011 sqft
    Vernal's median listing age (time on market) for 2024-10-01 was 0 days.

    Vernal's median square footage for active listings during the 2024-10-01 period was 2,011 sqft. One year prior, the average listing was 2,394 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.