Virginia Beach USDA Loan Rates, Closing Costs & Stats

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Virginia Beach's 17 lenders originated 27 USDA loans during 2024. The total origination value was $7,165,000, with an average USDA loan value of $265,370.

Virginia Beach USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Virginia Beach averaged 0.23% for the week of 2025-06-20, compared to the national average (all USDA variants) of 0% for the same period.

Virginia Beach's average USDA mortgage closing costs are $5,897.

The average rate for the prior week (2025-06-13) was 6.43% and one month ago for the week of 2025-05-16, the average rate was 6.3%.

The average rate one year ago was 6.62%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.38%.

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

Virginia Beach USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Virginia Beach level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 6.25% $8,360
MOVEMENT MORTGAGE, LLC 3 6.21% $7,344
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 6.16% $10,444
Alcova Mortgage LLC 2 6.50% $5,727
Blue Ridge Bank 2 6.50% $7,473
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $8,169
NEWREZ LLC 1 5.13% $5,911
T2 FINANCIAL LLC 1 7.00% $12,951
Towne Bank 1 5.88% $14,147
TOWNE MORTGAGE COMPANY 1 6.63% $5,280
Truist 1 5.75% $6,392
Advance Financial Group, LLC 1 6.75% $8,031
UNITED WHOLESALE MORTGAGE, LLC 1 6.60% $7,403
Ameris Bank 1 6.13% $10,864
BROKER SOLUTIONS, INC. 1 6.25% $10,417
CALCON MUTUAL MORTGAGE LLC 1 5.99% $7,483
DHI MORTGAGE COMPANY, LTD. 1 3.99% $17,567

The top Virginia Beach USDA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with 3 USDA loans originated. Their average total fees are $8,360, which is $1,016 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Virginia Beach USDA lenders (with over 10 loans originated) are .

The lowest rate Virginia Beach USDA lenders (with over 10 loans originated) are .