Carbondale VA Loan Rates, Closing Costs & Stats

CARBONDALE-MARION, 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.

    Carbondale's 40 lenders originated 153 VA loans during 2023. The total origination value was $31,765,000, with an average VA loan value of $207,614.

    Carbondale VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Carbondale averaged 6.77% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Carbondale's average VA mortgage closing costs are $4,314.

    The average rate for the prior week (2024-07-12) was 6.81% and one month ago for the week of 2024-06-14, the average rate was 6.47%.

    The average rate one year ago was 6.95%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.4%.

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

    Carbondale 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 Carbondale level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 43 6.66% $4,268
    U.S. Bank 10 7.01% $7,102
    GUARANTEED RATE, INC. 10 6.45% $5,488
    USAA Federal Savings Bank 9 6.33% $3,728
    GUILD MORTGAGE COMPANY 9 6.60% $5,241
    NAVY FEDERAL CREDIT UNION 8 5.86% $6,330
    GERSHMAN INVESTMENT CORP. 7 7.11% $5,419
    FLAT BRANCH MORTGAGE, INC. 5 6.80% $3,975
    Flagstar Bank, FSB 4 6.50% $3,605
    ROYAL UNITED MORTGAGE LLC 4 6.78% $9,473
    The Federal Savings Bank 3 6.00% $14,540
    BROKER SOLUTIONS, INC. 2 6.68% $4,344
    FREEDOM MORTGAGE CORPORATION 2 6.00% $16,020
    NEW DAY FINANCIAL, LLC 2 7.12% $6,519
    PENNYMAC LOAN SERVICES, LLC 2 6.94% $6,478
    Peoples National Bank , N.A. 2 5.56% $10,129
    Equity Prime Mortgage LLC 2 7.13% $6,969
    Barrington Bank & Trust Company, N.A. 2 6.00% $7,324
    UNITED WHOLESALE MORTGAGE, LLC 2 6.00% $6,034
    PLANET HOME LENDING, LLC 1 6.38% $6,229
    QUICKEN LOANS, LLC 1 6.49% $5,170
    Regions Bank 1 5.63% $6,860
    Servion, Inc. 1 7.00% $2,947
    Ameris Bank 1 6.13% $4,233
    AMERISAVE MORTGAGE CORPORATION 1 5.88% $5,222
    Arvest Bank 1 5.50% $3,581
    BNC National Bank 1 5.00% $5,972
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $3,840
    ENDEAVOR CAPITAL, LLC. 1 6.99% $5,036
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $933
    FAIR WAY LENDING LLC 1 7.75% $5,432
    Fifth Third Bank 1 7.13% $1,365
    First Federal Bank 1 6.63% $1,963
    FirstTrust Home Loans, Inc. 1 7.75% $1,007
    AMERICAN FINANCIAL NETWORK, INC. 1 7.75% $1,919
    HOMESIDE FINANCIAL, LLC 1 6.13% $7,361
    Magnolia Bank 1 6.75% $12,519
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $2,865
    Mr. Cooper ( Nationstar Mortgage ) 1 7.25% $4,979
    NBKC BANK 1 6.38% $8,765

    The top Carbondale VA lender as defined by loan originations is Mortgage Research Center, LLC, with 43 VA loans originated. Their average total fees are $4,268, which is $2,834 lower than the next largest lender, U.S. Bank.

    The lowest fee Carbondale VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,268), GUARANTEED RATE, INC. ($5,488), U.S. Bank ($7,102), .

    The lowest rate Carbondale VA lenders (with over 10 loans originated) are GUARANTEED RATE, INC. (6.45%), Mortgage Research Center, LLC (6.66%), U.S. Bank (7.01%), .

    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.