Cape Girardeau VA Loan Rates, Closing Costs & Stats

CAPE GIRARDEAU, MO-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.

    Cape Girardeau's 41 lenders originated 158 VA loans during 2024. The total origination value was $40,770,000, with an average VA loan value of $258,038.

    Cape Girardeau VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Cape Girardeau averaged 6.43% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

    Cape Girardeau's average VA mortgage closing costs are $4,571.

    The average rate for the prior week (2025-03-28) was 6.75% and one month ago for the week of 2025-02-28, the average rate was 6.62%.

    The average rate one year ago was 6.63%.

    For refis of the same type during the week of 2025-04-04, the average rate was 5.99%.

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

    Cape Girardeau 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 Cape Girardeau level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 37 6.38% $4,030
    DAS Acquisition Company, LLC 11 6.84% $4,608
    VILLAGE CAPITAL MORTGAGE 11 5.66% $4,920
    PENNYMAC LOAN SERVICES, LLC 8 5.55% $6,794
    FREEDOM MORTGAGE CORPORATION 6 6.17% $4,684
    FLAT BRANCH MORTGAGE, INC. 6 6.56% $6,015
    NAVY FEDERAL CREDIT UNION 5 5.95% $4,984
    QUICKEN LOANS, LLC 5 5.72% $6,355
    UNITED WHOLESALE MORTGAGE, LLC 5 5.84% $4,721
    NEWREZ LLC 4 5.75% $4,093
    Gateway First Bank 4 6.38% $7,056
    Flagstar Bank, FSB 4 6.31% $7,566
    GERSHMAN INVESTMENT CORP. 4 6.56% $5,449
    GUILD MORTGAGE COMPANY 4 7.13% $11,536
    USAA Federal Savings Bank 4 6.63% $5,342
    The Federal Savings Bank 3 6.46% $13,907
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.42% $3,421
    LOANDEPOT.COM, LLC 2 6.75% $6,394
    NEW DAY FINANCIAL, LLC 2 7.62% $12,082
    LAKEVIEW LOAN SERVICING, LLC 2 6.25% $3,124
    NP, Inc. 1 7.13% $379
    AMERISAVE MORTGAGE CORPORATION 1 7.75% $10,475
    PENTAGON FEDERAL CREDIT UNION 1 5.75% $4,339
    PLANET HOME LENDING, LLC 1 5.49% $3,223
    U.S. Bank 1 6.25% $20,113
    Regions Bank 1 7.13% $3,230
    ROYAL UNITED MORTGAGE LLC 1 6.50% $10,880
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.99% $1,737
    Commerce Bank 1 6.13% $4,258
    ENDEAVOR CAPITAL, LLC. 1 5.75% $5,411
    DELMAR FINANCIAL COMPANY 1 7.13% $45
    EVANSVILLE TEACHERS 1 6.50% $6,472
    First Bank 1 6.88% $2,234
    Flanagan State Bank 1 6.63% $5,346
    Barrington Bank & Trust Company, N.A. 1 6.25% $1,989
    BancorpSouth 1 5.63% $3,909
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $3,823
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $3,612
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.25% $8,511
    AMERICAN FINANCING CORPORATION 1 6.75% $17,168
    NFM, INC. 1 6.00% $7,432

    The top Cape Girardeau VA lender as defined by loan originations is Mortgage Research Center, LLC, with 37 VA loans originated. Their average total fees are $4,030, which is $578 lower than the next largest lender, DAS Acquisition Company, LLC.

    The lowest fee Cape Girardeau VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,030), DAS Acquisition Company, LLC ($4,608), VILLAGE CAPITAL MORTGAGE ($4,920), .

    The lowest rate Cape Girardeau VA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (5.66%), Mortgage Research Center, LLC (6.38%), DAS Acquisition Company, LLC (6.84%), .

    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.