Albany VA Loan Rates, Closing Costs & Stats

ALBANY-LEBANON, OR

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.

Albany's 51 lenders originated 193 VA loans during 2023. The total origination value was $76,135,000, with an average VA loan value of $394,482.

Albany VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Albany averaged 6.41% for the week of 2024-10-25, compared to the national average (all VA variants) of 6.14% for the same period.

Albany's average VA mortgage closing costs are $6,894.

The average rate for the prior week (2024-10-18) was 6.23% and one month ago for the week of 2024-09-20, the average rate was 5.32%.

The average rate one year ago was 7.65%.

For refis of the same type during the week of 2024-10-25, the average rate was 6.14%.

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

Albany 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 Albany level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 22 6.84% $5,652
UNITED WHOLESALE MORTGAGE, LLC 16 6.03% $8,077
SUMMIT FUNDING, INC. 11 6.40% $10,303
NAVY FEDERAL CREDIT UNION 10 5.48% $7,552
MOVEMENT MORTGAGE, LLC 8 6.56% $7,702
FREEDOM MORTGAGE CORPORATION 8 6.63% $18,143
CALIBER HOME LOANS, INC. 7 5.82% $14,670
S1L, Inc. 7 6.70% $9,437
GUILD MORTGAGE COMPANY 6 6.38% $15,871
QUICKEN LOANS, LLC 6 5.68% $13,321
LOANDEPOT.COM, LLC 5 6.63% $16,927
The Federal Savings Bank 5 6.08% $18,214
PENNYMAC LOAN SERVICES, LLC 5 5.50% $8,234
DAS Acquisition Company, LLC 5 6.48% $10,548
NATIONS DIRECT MORTGAGE, LLC 4 6.44% $8,742
CMG MORTGAGE, INC. 4 6.50% $10,201
Sierra Pacific Mortgage Company, Inc. 4 6.47% $12,925
Flagstar Bank, FSB 3 6.02% $14,311
PACIFIC RESIDENTIAL MORTGAGE, LLC 3 6.08% $9,335
ACADEMY MORTGAGE CORPORATION 3 6.75% $7,967
Equity Prime Mortgage LLC 3 6.00% $12,077
Mr. Cooper ( Nationstar Mortgage ) 3 6.08% $17,326
LPMC, LLC 3 6.38% $6,736
NEW DAY FINANCIAL, LLC 2 7.75% $18,510
CROSSCOUNTRY MORTGAGE, LLC 2 6.13% $9,339
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.25% $1,282
GUARANTEED RATE, INC. 2 6.25% $4,011
MORTGAGE EXPRESS, LLC 2 6.06% $12,574
NEWREZ LLC 2 5.88% $8,945
PLAZA HOME MORTGAGE, INC. 2 6.50% $9,378
ROGUE 2 6.63% $14,972
SUCCESS MORTGAGE PARTNERS, INC. 2 6.81% $13,923
Umpqua Bank 2 6.19% $13,097
NOVA FINANCIAL & INVESTMENT CORPORATION 1 6.75% $25,758
Ixonia Bank 1 7.25% $14,693
GSF Mortgage Corporation 1 5.00% $10,400
Plains Commerce Bank 1 6.13% $7,696
PLANET HOME LENDING, LLC 1 4.75% $9,846
AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $10,513
First Federal Bank 1 5.50% $14,134
TWINSTAR 1 5.13% $9,496
EAGLE HOME MORTGAGE, LLC 1 6.75% $446
DIRECTORS MORTGAGE, INC. 1 6.88% $7,652
AMERICAN FINANCING CORPORATION 1 7.50% $30,367
BROKER SOLUTIONS, INC. 1 6.75% $10,932
SUMMIT MORTGAGE CORPORATION 1 6.25% $8,478
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $0
MANN FINANCIAL INC. 1 7.38% $9,749
LAKEVIEW LOAN SERVICING, LLC 1 6.25% $6,965
Keystone Funding, Inc. 1 5.50% $20,113
SUN WEST MORTGAGE COMPANY, INC. 1 6.75% $11,266

The top Albany VA lender as defined by loan originations is Mortgage Research Center, LLC, with 22 VA loans originated. Their average total fees are $5,652, which is $2,426 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Albany VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,652), NAVY FEDERAL CREDIT UNION ($7,552), UNITED WHOLESALE MORTGAGE, LLC ($8,077), SUMMIT FUNDING, INC. ($10,303) and .

The lowest rate Albany VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.48%), UNITED WHOLESALE MORTGAGE, LLC (6.03%), SUMMIT FUNDING, INC. (6.40%), Mortgage Research Center, LLC (6.84%) and .

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.