Augusta VA Loan Rates, Closing Costs & Stats

AUGUSTA-RICHMOND COUNTY, GA-SC

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.

Augusta's 172 lenders originated 3,830 VA loans during 2022. The total origination value was $1,131,180,000, with an average VA loan value of $295,347.

Augusta VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Augusta averaged -0.51% for the week of 2023-11-24, compared to the national average (all VA variants) of 0% for the same period.

Augusta's average VA mortgage closing costs are $5,647.

The average rate for the prior week (2023-11-17) was 6.64% and one month ago for the week of 2023-10-20, the average rate was 7.27%.

The average rate one year ago was 6.28%.

For refis of the same type during the week of 2023-11-24, the average rate was -1.04%.

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

Augusta 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 Augusta level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 607 5.07% $7,301
QUICKEN LOANS, LLC 220 4.21% $9,783
NAVY FEDERAL CREDIT UNION 215 4.08% $7,098
UNITED WHOLESALE MORTGAGE, LLC 166 4.53% $9,131
BANKSOUTH MORTGAGE COMPANY, LLC 144 4.15% $9,396
DHI MORTGAGE COMPANY, LTD. 119 4.05% $8,237
USAA Federal Savings Bank 118 4.35% $8,699
Queensborough National Bank & Trust Company 117 4.48% $9,740
FREEDOM MORTGAGE CORPORATION 114 4.34% $8,956
BROKER SOLUTIONS, INC. 110 4.58% $9,066
GUILD MORTGAGE COMPANY 100 5.11% $9,860
Ameris Bank 75 4.44% $9,663
NEW DAY FINANCIAL, LLC 69 5.02% $9,999
MOVEMENT MORTGAGE, LLC 68 4.97% $8,044
Colony Bank 68 4.35% $7,499
PENNYMAC LOAN SERVICES, LLC 62 3.47% $7,554
CARDINAL FINANCIAL 62 5.30% $13,329
South State Bank 59 4.46% $12,269
AUGUSTA MORTGAGE CO. 55 4.67% $11,365
PENTAGON FEDERAL CREDIT UNION 51 3.50% $5,724
LOANDEPOT.COM, LLC 47 4.19% $9,163
Mr. Cooper ( Nationstar Mortgage ) 47 4.75% $7,781
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 41 4.38% $6,554
First Heritage Mortgage, LLC 41 5.06% $13,899
Wells Fargo Bank 37 4.44% $6,088
CROSSCOUNTRY MORTGAGE, LLC 37 5.23% $9,583
AMERISAVE MORTGAGE CORPORATION 32 4.43% $12,209
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 32 4.87% $9,009
VANDERBILT MORTGAGE AND FINANCE, INC. 30 5.17% $8,632
HOMESTAR FINANCIAL CORPORATION 29 4.84% $10,003
MORTGAGE SOLUTIONS OF COLORADO, LLC 28 5.61% $8,726
FIRST CHOICE MORTGAGE, INC. 25 4.61% $10,368
PLANET HOME LENDING, LLC 24 4.67% $7,180
The Federal Savings Bank 23 5.05% $13,158
Synovus Bank 21 4.87% $9,558
CALIBER HOME LOANS, INC. 20 4.21% $11,313
CMG MORTGAGE, INC. 19 4.29% $10,445
VILLAGE CAPITAL MORTGAGE 18 3.71% $9,032
GUARANTEED RATE AFFINITY, LLC 17 5.01% $6,270
NEWREZ LLC 16 4.37% $9,022
HOME POINT FINANCIAL CORPORATION 15 4.40% $7,860
Carrington Mortgage Services, LLC 15 4.47% $8,021
PRIMELENDING, A PLAINSCAPITAL COMPANY 15 4.48% $8,573
Flagstar Bank, FSB 14 4.86% $6,112
SRP Federal Credit Union 14 4.59% $6,252
Security Federal Bank 14 4.39% $6,655
Regions Bank 13 4.92% $10,447
LOANPAL, LLC 12 3.83% $12,688
CLEARPATH LENDING 12 3.35% $9,373
North American Savings Bank, F.S.B. 11 4.03% $11,214
Barrington Bank & Trust Company, N.A. 10 4.96% $8,394
LAKEVIEW LOAN SERVICING, LLC 10 3.83% $5,435
CONTOUR MORTGAGE CORPORATION 10 4.68% $12,223
Mid-Continent Funding, Inc. 10 5.48% $5,620
MUTUAL OF OMAHA MORTGAGE, INC. 9 4.32% $6,971
Assurance Financial Group, L.L.C. 9 5.17% $8,342
STOCKTON MORTGAGE CORPORATION 8 4.97% $11,727
GUARANTEED RATE, INC. 8 4.42% $7,756
NBKC BANK 7 3.96% $6,878
Lakeview Community Capital, LLC 7 3.57% $5,259
Equity Prime Mortgage LLC 7 5.86% $11,104
CERTAINTY HOME LOANS, LLC 7 5.64% $6,852
Magnolia Bank 7 4.00% $9,313
AMERICAN PACIFIC MORTGAGE CORPORATION 7 5.50% $10,918
AMERICAN FINANCING CORPORATION 6 4.73% $8,940
TOWNE MORTGAGE COMPANY 5 3.82% $9,352
THRIVE MORTGAGE, LLC 5 6.13% $7,230
First Community Bank 5 5.00% $9,587
First Federal Bank 5 3.55% $7,501
Nations Lending Corporation 5 4.23% $10,640
Fifth Third Bank 4 3.53% $2,515
RELIANCE FIRST CAPITAL, LLC 4 5.19% $5,188
The Central Trust Bank 4 4.44% $13,618
FBC MORTGAGE, LLC 4 5.75% $3,488
Low VA Rates, LLC 4 4.47% $5,475
First Option Mortgage, LLC 4 3.94% $5,351
Credence Funding Corporation 4 3.13% $2,616
M&T Bank 4 3.72% $6,690
SWBC MORTGAGE CORPORATION 3 4.54% $10,556
CRESCENT MORTGAGE COMPANY 3 3.58% $8,166
RESOURCE FINANCIAL SERVICES, INC. 3 4.75% $7,975
Texana Bank 3 4.79% $10,288
INTERCOASTAL MORTGAGE COMPANY 3 5.08% $12,912
Armed Forces Bank 3 4.50% $5,681
MID AMERICA MORTGAGE, INC. 3 4.12% $5,702
HOMESIDE FINANCIAL, LLC 2 3.88% $4,393
First Guaranty Mortgage Corporation 2 3.75% $1,912
First Mortgage Solutions, LLC 2 3.00% $3,519
EMBRACE HOME LOANS, INC. 2 5.18% $12,093
DRAPER AND KRAMER MORTGAGE CORP. 2 5.44% $6,736
DAS Acquisition Company, LLC 2 5.25% $5,966
GUARANTY HOME MORTGAGE CORPORATION 2 3.69% $8,256
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.19% $9,028
HOMEOWNERS FINANCIAL GROUP USA, LLC 2 6.75% $4,729
KELLER MORTGAGE, LLC 2 3.75% $11,006
BNC National Bank 2 5.19% $20,293
NFM, INC. 2 5.13% $12,037
PANORAMA MORTGAGE GROUP, LLC 2 4.88% $11,897
BAY EQUITY LLC 2 4.94% $23,152
Bank of America 2 2.81% $7,951
RESIDENTIAL BANCORP 2 4.81% $7,541
Austin Capital Bank SSB 2 4.31% $7,176
Service Federal Credit Union 2 4.19% $10,988
SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 4.75% $7,374
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 4.31% $8,894
Truist 2 4.24% $1,358
U.S. Bank 2 3.06% $8,427
Wyndham Capital Mortgage, Inc. 2 4.69% $6,049
First-Citizens Bank & Trust Company 1 3.75% $4,537
HOMESPIRE MORTGAGE CORPORATION 1 6.25% $10,116
Northpointe Bank 1 3.00% $18,107
North State Bank 1 2.75% $2,017
NP, Inc. 1 2.75% $6,347
OPEN MORTGAGE, LLC 1 4.25% $8,942
Watermark Capital, Inc. 1 2.25% $2,769
Paramount Residential Mortgage Group, Inc. 1 4.63% $12,218
Bell Bank 1 4.75% $1,921
UNION HOME MORTGAGE CORP. 1 3.88% $4,252
Peoples Bank 1 6.75% $17,104
Pinnacle Bank 1 4.88% $10,683
Evolve Bank & Trust 1 6.25% $10,187
PLAZA HOME MORTGAGE, INC. 1 3.75% $6,889
PLUS RELOCATION MORTGAGE, LLC 1 6.75% $25,564
PREMIA MORTGAGE, LLC 1 5.63% $35,136
Presidential Bank, FSB 1 5.25% $8,442
Bank of England 1 2.88% $4,167
Prosperity Home Mortgage, LLC 1 5.25% $16,302
FINANCE OF AMERICA MORTGAGE LLC 1 4.88% $5,021
BancorpSouth 1 6.88% $4,129
1ST PREFERENCE MORTGAGE CORP. 1 3.63% $13,533
HANCOCK MORTGAGE PARTNERS, LLC 1 6.25% $11,363
Renasant Bank 1 4.50% $4,517
EVERETT FINANCIAL, INC. 1 5.13% $4,457
HAMILTON HOME LOANS, INC. 1 3.25% $15,291
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 5.00% $1,861
S1L, Inc. 1 3.13% $7,641
1ST SIGNATURE LENDING, LLC 1 3.88% $4,442
SECURITYNATIONAL MORTGAGE COMPANY 1 6.13% $17,608
AMERICAN FINANCIAL RESOURCES, INC. 1 6.13% $1,551
Sierra Pacific Mortgage Company, Inc. 1 4.50% $8,779
SIRVA MORTGAGE, INC. 1 5.13% $499
VERITAS FUNDING, LLC 1 5.25% $16,106
GoPrime Mortgage, Inc. 1 4.38% $9,749
SOUTHWEST STAGE FUNDING, LLC 1 3.88% $9,317
SOVEREIGN LENDING GROUP INCORPORATED 1 2.75% $6,775
Goldwater Bank, N.A. 1 5.25% $7,395
GMFS LLC 1 4.99% $7,128
Strong Home Mortgage, LLC 1 3.25% $5,679
SUCCESS MORTGAGE PARTNERS, INC. 1 5.13% $1,088
Gateway First Bank 1 5.75% $9,818
ALLIED MORTGAGE GROUP, INC. 1 6.13% $11,001
TD Bank 1 2.88% $2,034
First Savings Bank 1 3.75% $13,834
First Palmetto Bank 1 4.75% $3,033
American Security Mortgage Corp. 1 4.75% $5,320
THE MORTGAGE FIRM, INC. 1 5.75% $12,469
EMM LOANS LLC 1 6.50% $5,744
TJC Mortgage, Inc. 1 4.63% $5,215
TOP FLITE FINANCIAL, INC. 1 6.75% $14,582
MORTGAGEONE, INC. 1 5.75% $12,145
MILEND, INC. 1 7.25% $7,045
CityWorth Mortgage LLC 1 4.25% $13,185
Citizens Bank 1 2.50% $2,150
MIDLAND MORTGAGE CORPORATION 1 4.75% $5,965
Meridian Bank Corporation 1 4.38% $3,261
LEADERONE FINANCIAL CORPORATION 1 5.13% $9,693
MY MORTGAGE, INC. 1 7.75% $8,535
JPMorgan Chase Bank 1 4.75% $3,007
Century Mortgage Company DBA Century Lending Company 1 6.25% $5,513
Core Bank 1 4.25% $17,228
CALCON MUTUAL MORTGAGE LLC 1 5.63% $12,011
Towne Bank 1 4.75% $6,504

The top Augusta VA lender as defined by loan originations is Mortgage Research Center, LLC, with 607 VA loans originated. Their average total fees are $7,301, which is $2,483 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Augusta VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($5,435), Mid-Continent Funding, Inc. ($5,620), PENTAGON FEDERAL CREDIT UNION ($5,724), Wells Fargo Bank ($6,088) and Flagstar Bank, FSB ($6,112).

The lowest rate Augusta VA lenders (with over 10 loans originated) are CLEARPATH LENDING (3.35%), PENNYMAC LOAN SERVICES, LLC (3.47%), PENTAGON FEDERAL CREDIT UNION (3.50%), VILLAGE CAPITAL MORTGAGE (3.71%) and LAKEVIEW LOAN SERVICING, LLC (3.83%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Augusta (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $219,000 (9.6%) $273,840 (7.6%) 0.81 2,497
2018-02-01 $221,450 (8.0%) $280,883 (9.2%) 0.80 2,500
2018-03-01 $224,900 (7.6%) $286,197 (9.8%) 0.79 2,444
2018-04-01 $228,450 (8.8%) $289,107 (9.4%) 0.77 2,451
2018-05-01 $229,950 (5.7%) $292,601 (7.7%) 0.77 2,464
2018-06-01 $229,000 (6.0%) $291,560 (6.9%) 0.76 2,444
2018-07-01 $224,950 (4.6%) $287,097 (6.5%) 0.75 2,491
2018-08-01 $219,900 (2.3%) $282,511 (5.0%) 0.74 2,493
2018-09-01 $218,450 (0.8%) $278,832 (3.6%) 0.73 2,563
2018-10-01 $219,250 (2.0%) $275,085 (2.6%) 0.74 2,564
2018-11-01 $218,600 (0.6%) $272,367 (0.0%) 0.74 2,545
2018-12-01 $215,000 (-0.4%) $277,646 (2.1%) 0.74 2,467
2019-01-01 $215,000 (-1.8%) $278,846 (1.8%) 0.74 2,371
2019-02-01 $217,000 (-2.0%) $282,062 (0.4%) 0.73 2,336
2019-03-01 $223,800 (-0.5%) $287,579 (0.5%) 0.73 2,273
2019-04-01 $229,548 (0.5%) $293,541 (1.5%) 0.73 2,245
2019-05-01 $230,000 (0.0%) $296,331 (1.3%) 0.72 2,266
2019-06-01 $234,900 (2.6%) $298,875 (2.5%) 0.73 2,203
2019-07-01 $235,450 (4.7%) $303,811 (5.8%) 0.74 2,243
2019-08-01 $234,159 (6.5%) $297,420 (5.3%) 0.74 2,246
2019-09-01 $233,122 (6.7%) $297,558 (6.7%) 0.75 2,210
2019-10-01 $233,167 (6.4%) $297,625 (8.2%) 0.75 2,186
2019-11-01 $229,000 (4.8%) $295,226 (8.4%) 0.75 2,109
2019-12-01 $229,450 (6.7%) $292,859 (5.5%) 0.77 2,017
2020-01-01 $229,900 (6.9%) $299,176 (7.3%) 0.77 1,881
2020-02-01 $232,230 (7.0%) $306,846 (8.8%) 0.76 1,794
2020-03-01 $236,058 (5.5%) $307,310 (6.9%) 0.74 1,764
2020-04-01 $244,651 (6.6%) $315,731 (7.6%) 0.77 1,748
2020-05-01 $249,900 (8.7%) $325,612 (9.9%) 0.76 1,575
2020-06-01 $254,950 (8.5%) $338,343 (13.2%) 0.75 1,368
2020-07-01 $250,200 (6.3%) $339,139 (11.6%) 0.73 1,326
2020-08-01 $259,000 (10.6%) $343,693 (15.6%) 0.74 1,258
2020-09-01 $264,900 (13.6%) $350,327 (17.7%) 0.76 1,159
2020-10-01 $262,690 (12.7%) $345,195 (16.0%) 0.75 1,179
2020-11-01 $249,995 (9.2%) $360,987 (22.3%) 0.73 1,060
2020-12-01 $251,892 (9.8%) $358,199 (22.3%) 0.75 1,027
2021-01-01 $259,450 (12.9%) $358,291 (19.8%) 0.77 944
2021-02-01 $259,900 (11.9%) $376,795 (22.8%) 0.76 795
2021-03-01 $262,663 (11.3%) $390,661 (27.1%) 0.75 715
2021-04-01 $275,450 (12.6%) $413,624 (31.0%) 0.75 674
2021-05-01 $290,285 (16.2%) $411,625 (26.4%) 0.77 732
2021-06-01 $287,450 (12.8%) $404,062 (19.4%) 0.76 803
2021-07-01 $289,450 (15.7%) $395,618 (16.7%) 0.76 865
2021-08-01 $284,900 (10.0%) $377,013 (9.7%) 0.76 947
2021-09-01 $285,250 (7.7%) $372,184 (6.2%) 0.76 971
2021-10-01 $279,900 (6.6%) $363,819 (5.4%) 0.75 996
2021-11-01 $287,225 (14.9%) $365,587 (1.3%) 0.77 956
2021-12-01 $280,675 (11.4%) $357,197 (-0.3%) 0.76 856
2022-01-01 $281,670 (8.6%) $356,746 (-0.4%) 0.76 733
2022-02-01 $284,675 (9.5%) $355,598 (-5.6%) 0.74 626
2022-03-01 $281,503 (7.2%) $358,846 (-8.1%) 0.70 635
2022-04-01 $290,000 (5.3%) $362,661 (-12.3%) 0.69 723
2022-05-01 $307,370 (5.9%) $373,738 (-9.2%) 0.70 955
2022-06-01 $313,915 (9.2%) $377,375 (-6.6%) 0.70 1,089
2022-07-01 $315,000 (8.8%) $371,292 (-6.2%) 0.71 1,272
2022-08-01 $313,869 (10.2%) $370,028 (-1.9%) 0.73 1,361
2022-09-01 $312,971 (9.7%) $368,587 (-1.0%) 0.73 1,358
2022-10-01 $312,900 (11.8%) $365,109 (0.4%) 0.74 1,522
2022-11-01 $319,800 (11.3%) $369,405 (1.0%) 0.77 1,638
2022-12-01 $319,700 (13.9%) $368,455 (3.2%) 0.79 1,647
2023-01-01 $324,200 (15.1%) $379,091 (6.3%) 0.80 1,571
2023-02-01 $329,900 (15.9%) $385,641 (8.5%) 0.80 1,400
2023-03-01 $320,080 (13.7%) $384,587 (7.2%) 0.76 1,360
2023-04-01 $315,000 (8.6%) $383,621 (5.8%) 0.73 1,368
2023-05-01 $316,125 (2.9%) $385,541 (3.2%) 0.72 1,380
2023-06-01 $316,900 (1.0%) $391,352 (3.7%) 0.71 1,407
2023-07-01 $309,900 (-1.6%) $377,758 (1.7%) 0.70 1,504
2023-08-01 $299,950 (-4.4%) $368,204 (-0.5%) 0.69 1,587
2023-09-01 $302,430 (-3.4%) $370,026 (0.4%) 0.70 1,638
2023-10-01 $309,950 (-0.9%) $373,732 (2.4%) 0.73 1,762
Augusta's median listing price for 2023-10-01 was $309,950, a difference of $-2,950 (-0.9%) versus the prior year and $7,520 versus the prior month.

Augusta's median listing price comes in at 73% of the national average.

Augusta's average listing price for 2023-10-01 was $373,732, a difference of $8,623 (2.4%) versus the prior year and $3,706 versus the prior month.

For the 2023-10-01 period, Augusta had 1,762 MLS listings, a difference of 124 listings (8%) versus the prior month and 240 listings (16%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Augusta (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 93 days 2,190 sqft
2018-02-01 87 days 2,222 sqft
2018-03-01 67 days 2,240 sqft
2018-04-01 65 days 2,270 sqft
2018-05-01 60 days 2,300 sqft
2018-06-01 61 days 2,299 sqft
2018-07-01 66 days 2,255 sqft
2018-08-01 71 days 2,200 sqft
2018-09-01 74 days 2,175 sqft
2018-10-01 76 days 2,175 sqft
2018-11-01 79 days 2,133 sqft
2018-12-01 85 days 2,106 sqft
2019-01-01 94 days 2,104 sqft
2019-02-01 91 days 2,113 sqft
2019-03-01 74 days 2,173 sqft
2019-04-01 59 days 2,226 sqft
2019-05-01 54 days 2,237 sqft
2019-06-01 53 days 2,246 sqft
2019-07-01 55 days 2,244 sqft
2019-08-01 61 days 2,232 sqft
2019-09-01 68 days 2,239 sqft
2019-10-01 75 days 2,247 sqft
2019-11-01 79 days 2,209 sqft
2019-12-01 87 days 2,208 sqft
2020-01-01 89 days 2,204 sqft
2020-02-01 82 days 2,202 sqft
2020-03-01 62 days 2,231 sqft
2020-04-01 63 days 2,280 sqft
2020-05-01 72 days 2,285 sqft
2020-06-01 73 days 2,293 sqft
2020-07-01 61 days 2,284 sqft
2020-08-01 50 days 2,294 sqft
2020-09-01 51 days 2,299 sqft
2020-10-01 51 days 2,163 sqft
2020-11-01 51 days 2,219 sqft
2020-12-01 53 days 2,263 sqft
2021-01-01 55 days 2,250 sqft
2021-02-01 53 days 2,236 sqft
2021-03-01 38 days 2,194 sqft
2021-04-01 32 days 2,229 sqft
2021-05-01 28 days 2,272 sqft
2021-06-01 30 days 2,260 sqft
2021-07-01 31 days 2,200 sqft
2021-08-01 32 days 2,152 sqft
2021-09-01 38 days 2,153 sqft
2021-10-01 45 days 2,121 sqft
2021-11-01 45 days 2,160 sqft
2021-12-01 52 days 2,158 sqft
2022-01-01 54 days 2,156 sqft
2022-02-01 42 days 2,099 sqft
2022-03-01 33 days 2,051 sqft
2022-04-01 31 days 2,089 sqft
2022-05-01 32 days 2,112 sqft
2022-06-01 38 days 2,115 sqft
2022-07-01 40 days 2,103 sqft
2022-08-01 46 days 2,107 sqft
2022-09-01 49 days 2,104 sqft
2022-10-01 50 days 2,100 sqft
2022-11-01 56 days 2,154 sqft
2022-12-01 70 days 2,159 sqft
2023-01-01 79 days 2,161 sqft
2023-02-01 81 days 2,165 sqft
2023-03-01 65 days 2,139 sqft
2023-04-01 48 days 2,112 sqft
2023-05-01 48 days 2,136 sqft
2023-06-01 47 days 2,120 sqft
2023-07-01 45 days 2,095 sqft
2023-08-01 47 days 2,026 sqft
2023-09-01 52 days 2,033 sqft
2023-10-01 54 days 2,080 sqft
Augusta's median listing age (time on market) for 2023-10-01 was 54 days. This is 7% longer than the same period one year ago.

Augusta's median square footage for active listings during the 2023-10-01 period was 2,080 sqft. One year prior, the average listing was 2,100 sqft.

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.