Bangor VA Loan Rates, Closing Costs & Stats

BANGOR, 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.

    Bangor's 43 lenders originated 211 VA loans during 2023. The total origination value was $58,055,000, with an average VA loan value of $275,142.

    Bangor VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Bangor 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.

    Bangor's average VA mortgage closing costs are $5,288.

    The average rate for the prior week (2024-11-01) was 6.74% and one month ago for the week of 2024-10-04, the average rate was 5.86%.

    The average rate one year ago was 7.52%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.14%.

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

    Bangor 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 Bangor level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 46 6.83% $4,012
    QUICKEN LOANS, LLC 15 6.01% $8,254
    LEADERONE FINANCIAL CORPORATION 14 7.04% $5,996
    UNITED WHOLESALE MORTGAGE, LLC 11 6.74% $7,692
    USAA Federal Savings Bank 9 5.82% $8,377
    Bangor Savings Bank 8 5.62% $7,684
    CMG MORTGAGE, INC. 8 6.56% $7,179
    LOANDEPOT.COM, LLC 7 6.49% $12,960
    The Camden National Bank 5 6.12% $8,057
    NAVY FEDERAL CREDIT UNION 5 5.90% $3,520
    NEW DAY FINANCIAL, LLC 5 7.30% $13,004
    GUILD MORTGAGE COMPANY 5 6.53% $10,753
    Mr. Cooper ( Nationstar Mortgage ) 4 6.34% $9,896
    The Federal Savings Bank 4 6.19% $12,329
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 5.75% $7,554
    NEWREZ LLC 4 7.12% $9,886
    FREEDOM MORTGAGE CORPORATION 4 6.38% $14,412
    EMBRACE HOME LOANS, INC. 3 6.75% $5,156
    AMERISAVE MORTGAGE CORPORATION 3 6.38% $14,970
    CUSO MORTGAGE CORPORATION 2 6.63% $10,612
    CALIBER HOME LOANS, INC. 2 5.94% $16,107
    CROSSCOUNTRY MORTGAGE, LLC 2 6.94% $5,615
    KeyBank 2 6.94% $3,475
    NORTHEAST HOME LOAN, LLC 2 7.38% $9,321
    PENNYMAC LOAN SERVICES, LLC 2 5.44% $5,346
    TOTAL MORTGAGE SERVICES, LLC 2 6.60% $9,819
    First National Bank 1 5.00% $6,909
    AMERICAN FINANCING CORPORATION 1 6.63% $13,643
    NORTHERN MORTGAGE SERVICES, LLC 1 7.50% $6,705
    NORTHPOINT MORTGAGE, INC. 1 6.63% $14,571
    Barrington Bank & Trust Company, N.A. 1 6.25% $9,176
    Plains Commerce Bank 1 5.75% $4,683
    POLARIS HOME FUNDING CORP. 1 6.63% $10,091
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $8,452
    Prosperity Home Mortgage, LLC 1 6.13% $9,871
    ACADEMY MORTGAGE CORPORATION 1 5.75% $0
    Shamrock Home Loans, Inc. 1 7.13% $1,632
    TD Bank 1 6.63% $3,006
    Community First National Bank 1 6.25% $3,666
    CARDINAL FINANCIAL 1 6.75% $14,172
    Home Loan Investment Bank, F.S.B. 1 7.49% $9,531
    GUARANTEED RATE AFFINITY, LLC 1 7.75% $2,871
    Flagstar Bank, FSB 1 6.75% $14,690

    The top Bangor VA lender as defined by loan originations is Mortgage Research Center, LLC, with 46 VA loans originated. Their average total fees are $4,012, which is $4,241 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Bangor VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,012), LEADERONE FINANCIAL CORPORATION ($5,996), UNITED WHOLESALE MORTGAGE, LLC ($7,692), QUICKEN LOANS, LLC ($8,254) and .

    The lowest rate Bangor VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.01%), UNITED WHOLESALE MORTGAGE, LLC (6.74%), Mortgage Research Center, LLC (6.83%), LEADERONE FINANCIAL CORPORATION (7.04%) 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.