Cedar City VA Loan Rates, Closing Costs & Stats

Cedar City, UT

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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.

    Cedar City's 32 lenders originated 99 VA loans during 2023. The total origination value was $38,275,000, with an average VA loan value of $386,616.

    Cedar City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Cedar City averaged 6.29% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Cedar City's average VA mortgage closing costs are $6,692.

    The average rate for the prior week (2024-11-01) was 6.64% and one month ago for the week of 2024-10-04, the average rate was 5.77%.

    The average rate one year ago was 7.43%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.39%.

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

    Cedar City 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 Cedar City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 20 6.26% $7,761
    Mortgage Research Center, LLC 13 6.34% $6,987
    AMERICAN FINANCIAL NETWORK, INC. 7 6.05% $6,209
    BROKER SOLUTIONS, INC. 7 6.30% $12,589
    DHI MORTGAGE COMPANY, LTD. 5 6.40% $3,911
    QUICKEN LOANS, LLC 5 5.49% $7,274
    VILLAGE CAPITAL MORTGAGE 4 5.69% $16,943
    ACADEMY MORTGAGE CORPORATION 4 6.44% $18,486
    SUN AMERICAN MORTGAGE COMPANY 3 6.29% $16,125
    INTERCAP LENDING INC. 2 6.19% $4,609
    The Federal Savings Bank 2 7.56% $20,283
    NEWREZ LLC 2 6.50% $13,826
    BELEM SERVICING LLC 2 7.00% $3,081
    MOUNTAIN AMERICA 2 6.19% $6,292
    GUILD MORTGAGE COMPANY 2 6.38% $22,129
    Plains Commerce Bank 2 5.94% $15,902
    Paramount Residential Mortgage Group, Inc. 1 7.00% $5,573
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $5,881
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $6,193
    State Bank of Southern Utah 1 6.75% $9,413
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $19,488
    USAA Federal Savings Bank 1 6.13% $2,920
    U.S. Bank 1 5.63% $4,684
    CMG MORTGAGE, INC. 1 6.00% $9,718
    Century Mortgage Company DBA Century Lending Company 1 7.25% $9,228
    CARDINAL FINANCIAL 1 6.25% $15,015
    Flagstar Bank, FSB 1 6.75% $9,413
    FREEDOM MORTGAGE CORPORATION 1 6.75% $12,859
    LOANDEPOT.COM, LLC 1 6.38% $15,493
    MORTGAGEONE, INC. 1 6.63% $150
    NAVY FEDERAL CREDIT UNION 1 6.50% $4,373
    NBKC BANK 1 5.63% $17,683

    The top Cedar City VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 20 VA loans originated. Their average total fees are $7,761, which is $774 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Cedar City VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,987), UNITED WHOLESALE MORTGAGE, LLC ($7,761), .

    The lowest rate Cedar City VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.26%), Mortgage Research Center, LLC (6.34%), .

    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.