Beaver Dam VA Loan Rates, Closing Costs & Stats

Beaver Dam, WI

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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.

    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 5.92% for the week of 2024-10-11, compared to the national average (all VA variants) of 5.854% for the same period.

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

    The average rate for the prior week (2024-10-04) was 5.89% and one month ago for the week of 2024-09-06, the average rate was 5.68%.

    The average rate one year ago was 7.15%.

    For refis of the same type during the week of 2024-10-11, the average rate was 5.24%.

    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.