Bloomington VA Loan Rates, Closing Costs & Stats

BLOOMINGTON, IL

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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.

    Bloomington's 41 lenders originated 146 VA loans during 2024. The total origination value was $39,680,000, with an average VA loan value of $271,781.

    Bloomington VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Bloomington averaged 0.48% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Bloomington's average VA mortgage closing costs are $4,945.

    The average rate for the prior week (2025-06-13) was 7.03% and one month ago for the week of 2025-05-16, the average rate was 7.09%.

    The average rate one year ago was 6.99%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.08%.

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

    Bloomington 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 Bloomington level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 33 6.47% $7,215
    FIRST STATE MORTGAGE SERVICES, LLC 17 6.45% $6,407
    PENNYMAC LOAN SERVICES, LLC 11 5.63% $6,397
    NAVY FEDERAL CREDIT UNION 10 5.89% $3,483
    COMPASS MORTGAGE, INC. 7 6.66% $8,400
    QUICKEN LOANS, LLC 6 6.33% $9,533
    UNITED WHOLESALE MORTGAGE, LLC 6 5.77% $8,377
    FREEDOM MORTGAGE CORPORATION 5 6.13% $5,135
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.56% $19,440
    PNC Bank 4 6.22% $3,869
    USAA Federal Savings Bank 4 6.09% $5,060
    GUARANTEED RATE, INC. 3 6.30% $3,721
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.25% $11,909
    The Federal Savings Bank 2 6.88% $13,899
    POINT Mortgage 2 5.75% $5,572
    Ixonia Bank 2 7.56% $6,411
    FLAT BRANCH MORTGAGE, INC. 2 7.13% $7,245
    North American Savings Bank, F.S.B. 1 5.50% $3,810
    PLANET HOME LENDING, LLC 1 6.13% $2,952
    Regions Bank 1 7.25% $5,054
    S1L, Inc. 1 6.63% $9,475
    Stride Bank 1 5.63% $5,931
    SUN WEST MORTGAGE COMPANY, INC. 1 5.88% $12,379
    U.S. Bank 1 6.63% $12,153
    VILLAGE CAPITAL MORTGAGE 1 6.25% $4,655
    AMERISAVE MORTGAGE CORPORATION 1 5.25% $14,835
    BROKER SOLUTIONS, INC. 1 6.75% $4,359
    Busey Bank 1 6.13% $6,617
    Carrington Mortgage Services, LLC 1 7.13% $6,879
    CIBM Bank 1 6.50% $9,110
    DAS Acquisition Company, LLC 1 6.50% $3,583
    Equity Prime Mortgage LLC 1 7.25% $19,696
    EVERETT FINANCIAL, INC. 1 7.25% $1,173
    GUILD MORTGAGE COMPANY 1 5.75% $6,462
    HOMESIDE FINANCIAL, LLC 1 6.75% $9,364
    LEADERONE FINANCIAL CORPORATION 1 7.13% $5,861
    LOANDEPOT.COM, LLC 1 6.38% $8,558
    MORTGAGE ACCESS CORP. 1 6.75% $18,862
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $696
    NBKC BANK 1 6.50% $1,800
    NEW DAY FINANCIAL, LLC 1 6.49% $2,424

    The top Bloomington VA lender as defined by loan originations is Mortgage Research Center, LLC, with 33 VA loans originated. Their average total fees are $7,215, which is $807 higher than the next largest lender, FIRST STATE MORTGAGE SERVICES, LLC.

    The lowest fee Bloomington VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($3,483), PENNYMAC LOAN SERVICES, LLC ($6,397), FIRST STATE MORTGAGE SERVICES, LLC ($6,407), Mortgage Research Center, LLC ($7,215) and .

    The lowest rate Bloomington VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.63%), NAVY FEDERAL CREDIT UNION (5.89%), FIRST STATE MORTGAGE SERVICES, LLC (6.45%), Mortgage Research Center, LLC (6.47%) 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.