Atmore VA Loan Rates, Closing Costs & Stats

Atmore, 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.

    Atmore's 25 lenders originated 53 VA loans during 2023. The total origination value was $11,175,000, with an average VA loan value of $210,849.

    Atmore VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Atmore averaged 6.71% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Atmore's average VA mortgage closing costs are $4,594.

    The average rate for the prior week (2024-11-01) was 6.36% and one month ago for the week of 2024-10-04, the average rate was 5.79%.

    The average rate one year ago was 7.65%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.54%.

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

    Atmore 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 Atmore level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 12 6.86% $4,442
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.60% $4,923
    QUICKEN LOANS, LLC 4 6.06% $8,907
    NEW DAY FINANCIAL, LLC 3 7.66% $9,380
    UNITED WHOLESALE MORTGAGE, LLC 2 6.44% $600
    GUILD MORTGAGE COMPANY 2 6.56% $7,236
    LOANDEPOT.COM, LLC 2 6.18% $11,684
    NAVY FEDERAL CREDIT UNION 2 6.88% $1,873
    The Federal Savings Bank 2 6.50% $9,343
    THE MORTGAGE FIRM, INC. 2 6.69% $3,682
    UNION HOME MORTGAGE CORP. 2 6.75% $6,834
    NBKC BANK 1 5.88% $11,465
    ENVOY MORTGAGE, LTD 1 5.63% $5,917
    NEWREZ LLC 1 6.75% $7,615
    Paramount Residential Mortgage Group, Inc. 1 5.99% $3,074
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $1,764
    PENTAGON FEDERAL CREDIT UNION 1 6.00% $5,314
    Plains Commerce Bank 1 4.75% $10,774
    Citizens Bank 1 6.75% $5,183
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 5.75% $5,659
    SWBC MORTGAGE CORPORATION 1 5.25% $5,184
    Mid-Continent Funding, Inc. 1 5.38% $4,676
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $1,223
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $11,729
    Barrington Bank & Trust Company, N.A. 1 5.13% $2,169

    The top Atmore VA lender as defined by loan originations is Mortgage Research Center, LLC, with 12 VA loans originated. Their average total fees are $4,442, which is $482 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Atmore VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,442), .

    The lowest rate Atmore VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.86%), .

    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.