Athens VA Loan Rates, Closing Costs & Stats

Athens, TN

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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.

    Athens's 45 lenders originated 125 VA loans during 2023. The total origination value was $37,355,000, with an average VA loan value of $298,840.

    Athens VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Athens averaged 6.34% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Athens's average VA mortgage closing costs are $5,592.

    The average rate for the prior week (2024-07-12) was 6.58% and one month ago for the week of 2024-06-14, the average rate was 6.64%.

    The average rate one year ago was 6.62%.

    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.

    Athens 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 Athens level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 21 6.72% $5,455
    DHI MORTGAGE COMPANY, LTD. 9 5.36% $5,423
    UNITED WHOLESALE MORTGAGE, LLC 9 6.83% $7,464
    MORTGAGE INVESTORS GROUP, INC. 8 6.58% $5,148
    LOANDEPOT.COM, LLC 5 6.10% $11,968
    NAVY FEDERAL CREDIT UNION 4 5.97% $3,294
    CMG MORTGAGE, INC. 4 6.34% $11,384
    QUICKEN LOANS, LLC 4 5.71% $17,110
    COMMUNITY MORTGAGE CORPORATION 3 6.42% $14,270
    Gateway First Bank 3 6.92% $6,326
    NEWREZ LLC 3 5.92% $16,409
    PENNYMAC LOAN SERVICES, LLC 3 6.25% $11,240
    FREEDOM MORTGAGE CORPORATION 3 6.75% $10,507
    VILLAGE CAPITAL MORTGAGE 2 6.75% $12,895
    CARDINAL FINANCIAL 2 5.75% $6,024
    NEW DAY FINANCIAL, LLC 2 7.50% $4,080
    Equity Prime Mortgage LLC 2 7.44% $9,289
    Sierra Pacific Mortgage Company, Inc. 2 6.75% $16,095
    LAKEVIEW LOAN SERVICING, LLC 2 6.25% $16,185
    LEADERONE FINANCIAL CORPORATION 2 7.06% $6,217
    USAA Federal Savings Bank 2 6.44% $6,424
    First Citizens National Bank 2 6.13% $11,283
    Truist 1 5.75% $4,265
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.00% $15,270
    ALAMEDA MORTGAGE CORPORATION 1 7.25% $7,772
    Barrington Bank & Trust Company, N.A. 1 6.75% $9,153
    CapStar Bank 1 6.25% $2,396
    Citizens Bank 1 6.75% $3,463
    CONTOUR MORTGAGE CORPORATION 1 7.00% $15,270
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $6,048
    FIRST COMMUNITY MORTGAGE, INC. 1 5.75% $12,278
    Flagstar Bank, FSB 1 5.75% $0
    FLAT BRANCH MORTGAGE, INC. 1 7.25% $4,567
    HOMESTAR FINANCIAL CORPORATION 1 7.25% $726
    Magnolia Bank 1 5.75% $9,731
    MICHIGAN MUTUAL, INC. 1 7.13% $50
    MID AMERICA MORTGAGE, INC. 1 7.13% $4,886
    1ST SIGNATURE LENDING, LLC 1 7.38% $8,381
    MOVEMENT MORTGAGE, LLC 1 6.50% $5,105
    Mr. Cooper ( Nationstar Mortgage ) 1 5.25% $4,552
    Nations Lending Corporation 1 6.75% $17,337
    PLANET HOME LENDING, LLC 1 6.38% $11,412
    SIRVA MORTGAGE, INC. 1 6.63% $15,234
    TJC Mortgage, Inc. 1 6.88% $20,560
    TOWNE MORTGAGE COMPANY 1 6.63% $12,628

    The top Athens VA lender as defined by loan originations is Mortgage Research Center, LLC, with 21 VA loans originated. Their average total fees are $5,455, which is $32 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Athens VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,455), .

    The lowest rate Athens VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.72%), .

    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.