Blackfoot VA Loan Rates, Closing Costs & Stats

Blackfoot, ID

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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.

    Blackfoot's 33 lenders originated 69 VA loans during 2023. The total origination value was $23,965,000, with an average VA loan value of $347,319.

    Blackfoot VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Blackfoot averaged 6.08% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Blackfoot's average VA mortgage closing costs are $7,237.

    The average rate for the prior week (2024-11-01) was 6.03% and one month ago for the week of 2024-10-04, the average rate was 5.66%.

    The average rate one year ago was 7.22%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.54%.

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

    Blackfoot 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 Blackfoot level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Eagle Bank and Trust Company 6 6.21% $12,454
    Mortgage Research Center, LLC 5 6.35% $5,240
    UNITED WHOLESALE MORTGAGE, LLC 5 5.85% $5,356
    QUICKEN LOANS, LLC 5 6.27% $11,054
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 6.25% $8,106
    FIRST COLONY MORTGAGE CORPORATION 3 6.63% $1,722
    VAN DYK MORTGAGE CORPORATION 3 6.42% $4,878
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.69% $6,432
    CANOPY MORTGAGE, LLC 2 6.13% $16,411
    FREEDOM MORTGAGE CORPORATION 2 6.25% $20,612
    Glacier Bank 2 6.19% $24,216
    GUILD MORTGAGE COMPANY 2 6.06% $11,759
    LOANDEPOT.COM, LLC 2 5.06% $14,118
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.63% $14,695
    PENNYMAC LOAN SERVICES, LLC 2 5.00% $8,116
    KeyBank 1 5.38% $7,233
    CMG MORTGAGE, INC. 1 7.25% $15,652
    MANN FINANCIAL INC. 1 7.00% $12,865
    MORTGAGEONE, INC. 1 7.13% $2,108
    Gateway First Bank 1 6.25% $21,135
    BROKER SOLUTIONS, INC. 1 6.25% $7,396
    MOUNTAIN AMERICA 1 6.75% $8,861
    MOVEMENT MORTGAGE, LLC 1 6.75% $5,610
    Paramount Residential Mortgage Group, Inc. 1 7.25% $14,461
    VERITAS FUNDING, LLC 1 5.63% $10,602
    PLANET HOME LENDING, LLC 1 5.50% $12,680
    Flagstar Bank, FSB 1 6.75% $8,774
    SUMMIT FUNDING, INC. 1 6.63% $3,899
    SUN WEST MORTGAGE COMPANY, INC. 1 6.50% $9,176
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 4.88% $3,133
    The Federal Savings Bank 1 5.75% $17,254
    GENEVA FINANCIAL, LLC 1 7.63% $1,253
    IDAHO CENTRAL 1 5.50% $4,152

    The top Blackfoot VA lender as defined by loan originations is Eagle Bank and Trust Company, with 6 VA loans originated. Their average total fees are $12,454, which is $7,215 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Blackfoot VA lenders (with over 10 loans originated) are .

    The lowest rate Blackfoot VA lenders (with over 10 loans originated) are .

    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.