Albany VA Loan Rates, Closing Costs & Stats

ALBANY-LEBANON, OR

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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.

    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 6.47% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

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

    The average rate for the prior week (2024-07-12) was 6.22% and one month ago for the week of 2024-06-14, the average rate was 6.28%.

    The average rate one year ago was 6.76%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.2%.

    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.