Augusta VA Loan Rates, Closing Costs & Stats

Augusta-Waterville, ME

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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.

    Augusta's 47 lenders originated 193 VA loans during 2023. The total origination value was $58,825,000, with an average VA loan value of $304,793.

    Augusta VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Augusta averaged 6.48% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Augusta's average VA mortgage closing costs are $5,136.

    The average rate for the prior week (2024-11-01) was 6.53% and one month ago for the week of 2024-10-04, the average rate was 5.66%.

    The average rate one year ago was 7.32%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.24%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 35 6.99% $5,080
    GUILD MORTGAGE COMPANY 20 6.12% $8,575
    USAA Federal Savings Bank 13 6.30% $6,115
    UNITED WHOLESALE MORTGAGE, LLC 11 6.66% $9,273
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.51% $9,191
    QUICKEN LOANS, LLC 9 6.11% $8,241
    The Camden National Bank 7 5.95% $6,166
    NAVY FEDERAL CREDIT UNION 7 6.30% $7,582
    NEWREZ LLC 5 6.68% $8,216
    Androscoggin Savings Bank 5 5.65% $5,660
    CMG MORTGAGE, INC. 4 7.03% $7,982
    LOANDEPOT.COM, LLC 4 6.00% $8,954
    PENNYMAC LOAN SERVICES, LLC 4 6.31% $8,603
    VILLAGE CAPITAL MORTGAGE 3 6.13% $7,099
    Mr. Cooper ( Nationstar Mortgage ) 3 5.88% $20,459
    CUSO MORTGAGE CORPORATION 3 7.04% $4,675
    Bangor Savings Bank 3 5.67% $8,507
    TOTAL MORTGAGE SERVICES, LLC 3 7.17% $6,780
    Flagstar Bank, FSB 2 6.19% $7,759
    NEW DAY FINANCIAL, LLC 2 8.06% $14,112
    NORTHPOINT MORTGAGE, INC. 2 6.44% $11,062
    CALIBER HOME LOANS, INC. 2 6.44% $10,539
    DAS Acquisition Company, LLC 2 5.04% $3,832
    INTEGRITY MORTGAGE LLC 2 7.25% $9,171
    T2 FINANCIAL LLC 2 7.31% $3,071
    The Federal Savings Bank 2 6.56% $13,758
    LEADERONE FINANCIAL CORPORATION 2 6.94% $12,071
    NBH Bank 1 5.25% $9,289
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.00% $12,058
    AMERICAN FINANCING CORPORATION 1 6.63% $9,689
    AMERISAVE MORTGAGE CORPORATION 1 6.75% $11,438
    EMBRACE HOME LOANS, INC. 1 6.75% $14,299
    FREEDOM MORTGAGE CORPORATION 1 6.75% $22,268
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.63% $8,179
    GUARANTY HOME MORTGAGE CORPORATION 1 5.75% $7,744
    HARBORONE MORTGAGE, LLC 1 7.00% $5,526
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.63% $20,435
    KeyBank 1 6.38% $2,010
    LAKEVIEW LOAN SERVICING, LLC 1 7.25% $4,368
    M&T Bank 1 7.50% $3,412
    ACADEMY MORTGAGE CORPORATION 1 6.75% $4,396
    PENTAGON FEDERAL CREDIT UNION 1 5.63% $2,710
    PLANET HOME LENDING, LLC 1 7.75% $8,173
    POLARIS HOME FUNDING CORP. 1 6.25% $10,985
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.75% $3,027
    RELIANCE FIRST CAPITAL, LLC 1 6.63% $11,506
    SUN WEST MORTGAGE COMPANY, INC. 1 6.13% $3,245

    The top Augusta VA lender as defined by loan originations is Mortgage Research Center, LLC, with 35 VA loans originated. Their average total fees are $5,080, which is $3,495 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Augusta VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,080), USAA Federal Savings Bank ($6,115), GUILD MORTGAGE COMPANY ($8,575), UNITED WHOLESALE MORTGAGE, LLC ($9,273) and .

    The lowest rate Augusta VA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (6.12%), USAA Federal Savings Bank (6.30%), UNITED WHOLESALE MORTGAGE, LLC (6.66%), Mortgage Research Center, LLC (6.99%) 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.