Adrian VA Loan Rates, Closing Costs & Stats

Adrian, MI

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Adrian's 36 lenders originated 101 VA loans during 2023. The total origination value was $24,265,000, with an average VA loan value of $240,248.

    Adrian VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Adrian averaged 6.86% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Adrian's average VA mortgage closing costs are $4,999.

    The average rate for the prior week (2024-11-01) was 6.62% and one month ago for the week of 2024-10-04, the average rate was 5.94%.

    The average rate one year ago was 7.9%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.23%.

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

    Adrian 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 Adrian level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 22 6.95% $4,660
    QUICKEN LOANS, LLC 7 6.64% $8,211
    GVC MORTGAGE, INC. 7 6.95% $5,742
    NAVY FEDERAL CREDIT UNION 6 6.06% $3,934
    UNITED WHOLESALE MORTGAGE, LLC 6 6.35% $10,170
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 4 6.40% $8,529
    PENNYMAC LOAN SERVICES, LLC 4 5.28% $3,650
    The Huntington National Bank 3 6.54% $4,335
    USAA Federal Savings Bank 3 6.17% $4,410
    Barrington Bank & Trust Company, N.A. 2 6.50% $3,304
    NEW DAY FINANCIAL, LLC 2 6.50% $2,419
    Old National Bank 2 5.88% $2,753
    PNC Bank 2 6.38% $5,546
    CROSSCOUNTRY MORTGAGE, LLC 2 6.75% $8,981
    STAUNTON FINANCIAL, INC. 2 7.13% $7,333
    The Federal Savings Bank 2 5.88% $17,713
    UNION HOME MORTGAGE CORP. 2 7.19% $4,523
    CARDINAL FINANCIAL 2 6.00% $10,861
    VILLAGE CAPITAL MORTGAGE 1 5.75% $7,724
    BROKER SOLUTIONS, INC. 1 6.75% $6,936
    CALIBER HOME LOANS, INC. 1 6.13% $6,336
    First Federal Bank of the Midwest 1 6.13% $2,803
    FREEDOM MORTGAGE CORPORATION 1 6.25% $10,998
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.38% $10,437
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 7.25% $7,562
    KeyBank 1 6.88% $2,763
    LOANDEPOT.COM, LLC 1 7.25% $3,887
    MEMBER FIRST MORTGAGE, LLC 1 7.13% $7,690
    MORTGAGE 1 INCORPORATED 1 6.99% $8,157
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.50% $2,352
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $8,468
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.63% $36,122
    NEWREZ LLC 1 6.75% $8,386
    RUOFF MORTGAGE COMPANY, INC. 1 6.75% $1,871
    The State Bank and Trust Company 1 7.38% $3,389
    AMERICAN FINANCIAL NETWORK, INC. 1 7.38% $7,162

    The top Adrian VA lender as defined by loan originations is Mortgage Research Center, LLC, with 22 VA loans originated. Their average total fees are $4,660, which is $3,551 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Adrian VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,660), .

    The lowest rate Adrian VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.95%), .

    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.