Albertville VA Loan Rates, Closing Costs & Stats

Albertville, AL

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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.

    Albertville's 53 lenders originated 178 VA loans during 2023. The total origination value was $52,150,000, with an average VA loan value of $292,978.

    Albertville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Albertville averaged 5.96% for the week of 2024-10-11, compared to the national average (all VA variants) of 5.854% for the same period.

    Albertville's average VA mortgage closing costs are $5,452.

    The average rate for the prior week (2024-10-04) was 5.53% and one month ago for the week of 2024-09-06, the average rate was 5.62%.

    The average rate one year ago was 7.49%.

    For refis of the same type during the week of 2024-10-11, the average rate was 5.98%.

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

    Albertville 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 Albertville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 26 6.62% $7,862
    UNITED WHOLESALE MORTGAGE, LLC 14 6.22% $7,179
    QUICKEN LOANS, LLC 12 6.20% $10,327
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.47% $11,605
    GUARANTEED RATE, INC. 8 6.03% $9,369
    REDSTONE Federal Credit Union 7 6.41% $3,161
    PENNYMAC LOAN SERVICES, LLC 7 5.35% $5,471
    FirstBank 7 6.02% $5,225
    MOVEMENT MORTGAGE, LLC 6 6.29% $8,439
    NAVY FEDERAL CREDIT UNION 6 5.58% $6,835
    FREEDOM MORTGAGE CORPORATION 5 6.65% $13,748
    GMFS LLC 4 6.78% $17,901
    LOANDEPOT.COM, LLC 4 6.09% $9,946
    CARDINAL FINANCIAL 3 7.58% $10,323
    Regions Bank 3 6.21% $4,190
    First Federal Bank, A FSB 3 6.13% $10,456
    Wells Fargo Bank 2 6.50% $5,297
    AMERISAVE MORTGAGE CORPORATION 2 5.25% $12,283
    Barrington Bank & Trust Company, N.A. 2 6.25% $3,612
    BROKER SOLUTIONS, INC. 2 5.62% $10,218
    FIRST COMMUNITY MORTGAGE, INC. 2 6.13% $4,793
    Gateway First Bank 2 6.13% $6,728
    GUARANTEED RATE AFFINITY, LLC 2 6.44% $7,477
    Mr. Cooper ( Nationstar Mortgage ) 2 6.19% $8,060
    NEWREZ LLC 2 7.19% $3,754
    UNION HOME MORTGAGE CORP. 2 5.69% $11,096
    VILLAGE CAPITAL MORTGAGE 2 6.19% $6,598
    Magnolia Bank 1 6.88% $12,490
    First United Bank and Trust Company 1 6.88% $7,792
    FBC MORTGAGE, LLC 1 4.99% $6,475
    Armed Forces Bank 1 5.63% $3,980
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.50% $7,896
    Equity Prime Mortgage LLC 1 5.88% $6,436
    NEW DAY FINANCIAL, LLC 1 6.88% $12,151
    USAA Federal Savings Bank 1 6.00% $3,062
    North American Savings Bank, F.S.B. 1 5.38% $12,119
    Paramount Residential Mortgage Group, Inc. 1 6.25% $4,081
    CROSSCOUNTRY MORTGAGE, LLC 1 7.75% $7,587
    PLANET HOME LENDING, LLC 1 6.25% $4,645
    Prosperity Home Mortgage, LLC 1 6.13% $13,426
    Community First National Bank 1 7.25% $3,287
    Century Mortgage Company DBA Century Lending Company 1 6.75% $9,372
    BancorpSouth 1 6.63% $5,053
    Renasant Bank 1 6.25% $17,187
    RESIDENTIAL BANCORP 1 5.75% $4,882
    SOUTHWEST STAGE FUNDING, LLC 1 7.38% $0
    The Federal Savings Bank 1 6.63% $14,383
    TJC Mortgage, Inc. 1 6.13% $6,606
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 5.63% $4,456
    FLAT BRANCH MORTGAGE, INC. 1 5.75% $6,069
    Hamilton Mortgage Corporation 1 6.50% $3,805
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.50% $5,749
    Flagstar Bank, FSB 1 5.75% $6,787

    The top Albertville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 26 VA loans originated. Their average total fees are $7,862, which is $683 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Albertville VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($7,179), Mortgage Research Center, LLC ($7,862), QUICKEN LOANS, LLC ($10,327), .

    The lowest rate Albertville VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.20%), UNITED WHOLESALE MORTGAGE, LLC (6.22%), Mortgage Research Center, LLC (6.62%), .

    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.