Beaver Dam VA Loan Rates, Closing Costs & Stats

Beaver Dam, WI

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.

Beaver Dam's 35 lenders originated 80 VA loans during 2023. The total origination value was $22,580,000, with an average VA loan value of $282,250.

Beaver Dam VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Beaver Dam averaged 6.27% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

Beaver Dam's average VA mortgage closing costs are $5,116.

The average rate for the prior week (2024-07-12) was 6.31% and one month ago for the week of 2024-06-14, the average rate was 6.47%.

The average rate one year ago was 6.96%.

For refis of the same type during the week of 2024-07-19, the average rate was 5.88%.

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

Beaver Dam 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 Beaver Dam level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 17 6.79% $8,440
QUICKEN LOANS, LLC 6 6.22% $14,150
UNITED WHOLESALE MORTGAGE, LLC 5 6.66% $6,751
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 7.25% $8,530
Prosperity Home Mortgage, LLC 3 6.25% $3,195
Barrington Bank & Trust Company, N.A. 3 6.08% $6,228
FREEDOM MORTGAGE CORPORATION 3 6.63% $15,567
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.88% $5,830
PLANET HOME LENDING, LLC 2 6.19% $8,869
MOVEMENT MORTGAGE, LLC 2 7.00% $7,318
GUARANTEED RATE AFFINITY, LLC 2 6.00% $2,390
GUARANTEED RATE, INC. 2 6.69% $7,244
GUILD MORTGAGE COMPANY 2 6.06% $12,700
CMG MORTGAGE, INC. 2 7.44% $10,148
BROKER SOLUTIONS, INC. 2 6.44% $14,461
Associated Bank 2 6.31% $4,220
The Huntington National Bank 1 6.75% $2,275
USAA Federal Savings Bank 1 5.25% $11,254
AMERISAVE MORTGAGE CORPORATION 1 5.13% $12,992
VILLAGE CAPITAL MORTGAGE 1 6.25% $3,820
CARDINAL FINANCIAL 1 6.25% $4,938
CORNERSTONE HOME LENDING, INC. 1 7.25% $4,771
CROSSCOUNTRY MORTGAGE, LLC 1 8.25% $1,770
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.88% $6,323
FIDELITY BANK 1 6.25% $17,301
Flagstar Bank, FSB 1 6.63% $10,360
Ixonia Bank 1 7.13% $3,875
LOANDEPOT.COM, LLC 1 4.99% $11,114
MID AMERICA MORTGAGE, INC. 1 5.88% $4,953
Mid-Continent Funding, Inc. 1 6.00% $16,204
Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $20,157
NEWREZ LLC 1 5.63% $11,416
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $7,953
Servion, Inc. 1 5.63% $9,917
The Federal Savings Bank 1 6.25% $12,475

The top Beaver Dam VA lender as defined by loan originations is Mortgage Research Center, LLC, with 17 VA loans originated. Their average total fees are $8,440, which is $5,710 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Beaver Dam VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($8,440), .

The lowest rate Beaver Dam VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.79%), .

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.