Chattanooga VA Loan Rates, Closing Costs & Stats

CHATTANOOGA, TN-GA

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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.

    Chattanooga's 115 lenders originated 1,044 VA loans during 2024. The total origination value was $361,920,000, with an average VA loan value of $346,667.

    Chattanooga VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Chattanooga averaged 0.23% for the week of 2025-07-04, compared to the national average (all VA variants) of 0% for the same period.

    Chattanooga's average VA mortgage closing costs are $6,311.

    The average rate for the prior week (2025-06-27) was 6.96% and one month ago for the week of 2025-05-30, the average rate was 7.09%.

    The average rate one year ago was 6.71%.

    For refis of the same type during the week of 2025-07-04, the average rate was 0.17%.

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

    Chattanooga 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 Chattanooga level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 174 6.41% $5,055
    UNITED WHOLESALE MORTGAGE, LLC 93 5.80% $9,185
    QUICKEN LOANS, LLC 72 6.14% $10,212
    MOVEMENT MORTGAGE, LLC 58 6.17% $7,176
    FREEDOM MORTGAGE CORPORATION 50 6.30% $9,939
    UNION HOME MORTGAGE CORP. 41 6.23% $8,650
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 30 6.45% $9,512
    PENNYMAC LOAN SERVICES, LLC 30 5.68% $9,094
    CMG MORTGAGE, INC. 26 6.60% $11,249
    NAVY FEDERAL CREDIT UNION 23 6.01% $5,593
    MORTGAGE INVESTORS GROUP, INC. 19 6.13% $6,152
    NEW DAY FINANCIAL, LLC 18 7.44% $13,892
    VILLAGE CAPITAL MORTGAGE 15 5.60% $5,092
    NEWREZ LLC 13 5.68% $10,188
    DHI MORTGAGE COMPANY, LTD. 13 5.48% $7,003
    FirstBank 13 6.38% $6,305
    GUARANTEED RATE, INC. 12 6.19% $6,457
    LOANDEPOT.COM, LLC 12 6.58% $12,155
    PLANET HOME LENDING, LLC 11 6.03% $5,098
    LEADERONE FINANCIAL CORPORATION 11 6.59% $12,301
    USAA Federal Savings Bank 11 6.26% $7,504
    SUMMIT FUNDING, INC. 10 6.67% $12,204
    LAKEVIEW LOAN SERVICING, LLC 10 5.75% $8,132
    BROKER SOLUTIONS, INC. 9 6.39% $10,973
    ALAMEDA MORTGAGE CORPORATION 9 6.48% $9,103
    MORTGAGE SOLUTIONS OF COLORADO, LLC 8 7.23% $7,343
    TENNESSEE VALLEY 7 6.27% $7,376
    CLEARPATH LENDING 7 5.87% $6,248
    CROSSCOUNTRY MORTGAGE, LLC 7 6.43% $5,315
    GUILD MORTGAGE COMPANY 7 6.02% $9,685
    The Federal Savings Bank 7 6.32% $15,297
    STOCKTON MORTGAGE CORPORATION 6 6.77% $9,658
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.29% $8,605
    COMMUNITY MORTGAGE CORPORATION 6 6.19% $10,044
    Barrington Bank & Trust Company, N.A. 6 6.25% $5,115
    First Citizens National Bank 5 5.85% $6,811
    Mr. Cooper ( Nationstar Mortgage ) 5 6.08% $5,571
    Carrington Mortgage Services, LLC 5 5.73% $9,196
    PHH Mortgage Corporation 4 6.18% $6,883
    MUTUAL OF OMAHA MORTGAGE, INC. 4 6.19% $11,861
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 5.97% $8,783
    NBKC BANK 4 5.84% $7,198
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.31% $12,015
    INTERCOASTAL MORTGAGE COMPANY 4 6.63% $7,489
    Renasant Bank 3 5.79% $9,350
    AmeriHome Mortgage Company, LLC 3 5.96% $5,823
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.75% $4,561
    AMERISAVE MORTGAGE CORPORATION 3 5.21% $10,067
    SUN WEST MORTGAGE COMPANY, INC. 3 5.96% $11,635
    Flagstar Bank, FSB 3 5.93% $6,941
    Mid-Continent Funding, Inc. 3 6.33% $10,440
    SUCCESS MORTGAGE PARTNERS, INC. 3 6.46% $10,819
    CARDINAL FINANCIAL 3 6.75% $17,649
    Truist 3 6.43% $9,793
    LOANPAL, LLC 3 5.88% $12,465
    Wolfe Financial, Inc 2 6.25% $14,012
    AMERICAN FINANCIAL NETWORK, INC. 2 6.50% $12,699
    BancorpSouth 2 6.44% $4,311
    CHURCHILL MORTGAGE CORPORATION 2 6.44% $7,050
    Citizens Tri-County Bank 2 6.50% $6,287
    Cornerstone First Mortgage, Inc 2 6.56% $7,159
    DIRECT MORTGAGE, CORP. 2 6.19% $6,006
    Equity Prime Mortgage LLC 2 6.50% $18,453
    FIRST COLONY MORTGAGE CORPORATION 2 6.25% $740
    First Federal Bank 2 5.94% $8,831
    First Horizon Bank 2 6.06% $10,984
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.88% $5,832
    Magnolia Bank 2 6.06% $13,405
    NFM, INC. 2 6.44% $6,745
    Paramount Residential Mortgage Group, Inc. 2 6.63% $19,861
    Pinnacle Bank 2 6.25% $4,675
    Plains Commerce Bank 2 5.94% $11,967
    PLAZA HOME MORTGAGE, INC. 2 6.31% $12,948
    RELIANCE FIRST CAPITAL, LLC 2 6.94% $9,752
    ROSS MORTGAGE CORPORATION 2 6.44% $8,918
    TJC Mortgage, Inc. 2 5.81% $10,439
    VAN DYK MORTGAGE CORPORATION 2 5.63% $5,770
    Wells Fargo Bank 2 5.81% $2,382
    PENTAGON FEDERAL CREDIT UNION 1 6.25% $2,945
    JPMorgan Chase Bank 1 6.75% $8,879
    AMERICAN FINANCING CORPORATION 1 6.00% $13,876
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.75% $3,237
    HOMESIDE FINANCIAL, LLC 1 7.25% $11,150
    U.S. Bank 1 6.13% $6,312
    PREMIA MORTGAGE, LLC 1 5.63% $9,690
    Gateway First Bank 1 6.75% $0
    FBC MORTGAGE, LLC 1 5.75% $6,097
    Regions Bank 1 6.25% $2,919
    ACOPIA, LLC 1 5.63% $7,874
    ENVOY MORTGAGE, LTD 1 6.00% $20,025
    VERITAS FUNDING, LLC 1 5.75% $22,032
    SeaTrust Mortgage Company 1 5.63% $6,540
    SIRVA MORTGAGE, INC. 1 6.38% $1,915
    SmartBank 1 5.63% $12,425
    SOUTHWEST STAGE FUNDING, LLC 1 5.88% $0
    ENDEAVOR CAPITAL, LLC. 1 6.75% $16,599
    DIRECT LENDERS, LLC 1 6.13% $4,522
    Credence Funding Corporation 1 5.63% $4,675
    COMPASS MORTGAGE, INC. 1 6.75% $16,469
    Capital City Home Loans, LLC 1 5.75% $13,047
    The Central Trust Bank 1 5.75% $22,617
    CANOPY MORTGAGE, LLC 1 6.75% $11,831
    ALLIANT CREDIT UNION 1 5.75% $2,644
    TOWNE MORTGAGE COMPANY 1 6.00% $8,786
    BANKSOUTH MORTGAGE COMPANY, LLC 1 5.75% $7,120
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $12,628
    M&T Bank 1 6.75% $4,783
    MILEND, INC. 1 6.63% $9,778
    Legacy Home Loans, LLC 1 6.75% $6,971
    AXIA FINANCIAL, LLC 1 5.75% $6,490
    OCEANSIDE MORTGAGE COMPANY 1 6.63% $2,277
    Pacific Lending LLC 1 6.00% $16,043
    PANORAMA MORTGAGE GROUP, LLC 1 6.75% $4,153
    UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 5.75% $11,815
    KeyBank 1 6.25% $9,901

    The top Chattanooga VA lender as defined by loan originations is Mortgage Research Center, LLC, with 174 VA loans originated. Their average total fees are $5,055, which is $4,129 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Chattanooga VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,055), VILLAGE CAPITAL MORTGAGE ($5,092), PLANET HOME LENDING, LLC ($5,098), NAVY FEDERAL CREDIT UNION ($5,593) and MORTGAGE INVESTORS GROUP, INC. ($6,152).

    The lowest rate Chattanooga VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.48%), VILLAGE CAPITAL MORTGAGE (5.60%), NEWREZ LLC (5.68%), PENNYMAC LOAN SERVICES, LLC (5.68%) and LAKEVIEW LOAN SERVICING, LLC (5.75%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Chattanooga (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $235,000 (9.3%) $308,355 (6.7%) 0.87 1,812
    2018-02-01 $242,200 (9.5%) $320,395 (9.0%) 0.88 1,772
    2018-03-01 $249,900 (10.3%) $333,965 (10.7%) 0.88 1,756
    2018-04-01 $264,900 (15.2%) $345,443 (11.6%) 0.90 1,750
    2018-05-01 $277,484 (15.7%) $355,101 (11.2%) 0.93 1,832
    2018-06-01 $274,900 (13.8%) $350,186 (2.8%) 0.92 2,026
    2018-07-01 $270,550 (10.4%) $347,143 (2.2%) 0.90 2,168
    2018-08-01 $274,525 (14.4%) $347,726 (9.8%) 0.92 2,208
    2018-09-01 $269,900 (10.2%) $342,719 (6.2%) 0.91 2,262
    2018-10-01 $270,000 (10.9%) $342,468 (6.2%) 0.91 2,274
    2018-11-01 $274,975 (17.0%) $344,558 (9.3%) 0.93 2,306
    2018-12-01 $270,000 (12.6%) $341,801 (8.5%) 0.93 2,223
    2019-01-01 $269,900 (14.9%) $338,817 (9.9%) 0.93 2,081
    2019-02-01 $271,500 (12.1%) $338,765 (5.7%) 0.92 2,059
    2019-03-01 $283,914 (13.6%) $347,758 (4.1%) 0.93 1,998
    2019-04-01 $296,800 (12.0%) $356,445 (3.2%) 0.94 1,994
    2019-05-01 $295,000 (6.3%) $361,893 (1.9%) 0.92 2,078
    2019-06-01 $294,800 (7.2%) $357,933 (2.2%) 0.92 2,093
    2019-07-01 $295,000 (9.0%) $354,211 (2.0%) 0.92 2,177
    2019-08-01 $293,536 (6.9%) $348,171 (0.1%) 0.93 2,187
    2019-09-01 $291,491 (8.0%) $349,277 (1.9%) 0.93 2,163
    2019-10-01 $289,900 (7.4%) $348,949 (1.9%) 0.94 2,162
    2019-11-01 $290,000 (5.5%) $349,525 (1.4%) 0.95 2,092
    2019-12-01 $295,058 (9.3%) $352,383 (3.1%) 0.98 1,913
    2020-01-01 $290,500 (7.6%) $349,946 (3.3%) 0.97 1,722
    2020-02-01 $299,900 (10.5%) $362,257 (6.9%) 0.98 1,564
    2020-03-01 $309,676 (9.1%) $370,068 (6.4%) 0.97 1,579
    2020-04-01 $315,450 (6.3%) $379,447 (6.5%) 0.99 1,581
    2020-05-01 $329,700 (11.8%) $402,815 (11.3%) 1.00 1,512
    2020-06-01 $337,125 (14.4%) $429,680 (20.0%) 0.99 1,343
    2020-07-01 $339,900 (15.2%) $438,783 (23.9%) 0.99 1,219
    2020-08-01 $334,900 (14.1%) $430,110 (23.5%) 0.96 1,141
    2020-09-01 $329,450 (13.0%) $434,270 (24.3%) 0.94 1,115
    2020-10-01 $320,000 (10.4%) $426,906 (22.3%) 0.92 1,040
    2020-11-01 $316,975 (9.3%) $426,424 (22.0%) 0.93 1,012
    2020-12-01 $312,450 (5.9%) $425,865 (20.9%) 0.93 951
    2021-01-01 $319,450 (10.0%) $436,317 (24.7%) 0.95 767
    2021-02-01 $331,175 (10.4%) $464,678 (28.3%) 0.96 565
    2021-03-01 $347,225 (12.1%) $464,436 (25.5%) 0.99 539
    2021-04-01 $350,000 (11.0%) $470,351 (24.0%) 0.95 527
    2021-05-01 $349,450 (6.0%) $495,280 (23.0%) 0.93 548
    2021-06-01 $349,975 (3.8%) $496,093 (15.5%) 0.92 642
    2021-07-01 $335,000 (-1.4%) $458,989 (4.6%) 0.88 747
    2021-08-01 $324,900 (-3.0%) $459,580 (6.9%) 0.87 863
    2021-09-01 $341,800 (3.8%) $460,097 (6.0%) 0.91 851
    2021-10-01 $350,000 (9.4%) $482,881 (13.1%) 0.93 759
    2021-11-01 $360,000 (13.6%) $492,456 (15.5%) 0.96 657
    2021-12-01 $354,900 (13.6%) $492,361 (15.6%) 0.96 578
    2022-01-01 $345,000 (8.0%) $491,856 (12.7%) 0.93 522
    2022-02-01 $358,720 (8.3%) $523,569 (12.7%) 0.93 460
    2022-03-01 $350,000 (0.8%) $544,488 (17.2%) 0.88 472
    2022-04-01 $422,450 (20.7%) $579,350 (23.2%) 1.01 525
    2022-05-01 $437,450 (25.2%) $576,196 (16.3%) 1.00 709
    2022-06-01 $419,950 (20.0%) $555,185 (11.9%) 0.94 892
    2022-07-01 $399,000 (19.1%) $538,348 (17.3%) 0.90 1,103
    2022-08-01 $396,300 (22.0%) $516,555 (12.4%) 0.92 1,209
    2022-09-01 $399,450 (16.9%) $521,052 (13.3%) 0.93 1,238
    2022-10-01 $399,000 (14.0%) $528,925 (9.5%) 0.94 1,307
    2022-11-01 $395,000 (9.7%) $519,595 (5.5%) 0.95 1,376
    2022-12-01 $395,000 (11.3%) $519,214 (5.5%) 0.98 1,257
    2023-01-01 $398,150 (15.4%) $505,827 (2.8%) 0.99 1,135
    2023-02-01 $398,400 (11.1%) $505,083 (-3.5%) 0.96 1,065
    2023-03-01 $407,225 (16.4%) $537,383 (-1.3%) 0.96 1,017
    2023-04-01 $439,900 (4.1%) $571,054 (-1.4%) 1.02 1,019
    2023-05-01 $438,950 (0.3%) $566,484 (-1.7%) 1.00 1,096
    2023-06-01 $438,117 (4.3%) $558,911 (0.7%) 0.98 1,159
    2023-07-01 $435,000 (9.0%) $558,832 (3.8%) 0.99 1,249
    2023-08-01 $437,500 (10.4%) $562,469 (8.9%) 1.00 1,278
    2023-09-01 $430,000 (7.7%) $553,379 (6.2%) 1.00 1,336
    2023-10-01 $418,086 (4.8%) $531,274 (0.4%) 0.98 1,472
    2023-11-01 $415,000 (5.1%) $530,514 (2.1%) 0.99 1,532
    2023-12-01 $409,900 (3.8%) $526,626 (1.4%) 1.00 1,519
    2024-01-01 $399,923 (0.5%) $527,182 (4.2%) 0.98 1,429
    2024-02-01 $402,500 (1.0%) $530,388 (5.0%) 0.97 1,441
    2024-03-01 $425,000 (4.4%) $548,162 (2.0%) 1.00 1,441
    2024-04-01 $425,000 (-3.4%) $559,090 (-2.1%) 0.99 1,485
    2024-05-01 $424,500 (-3.3%) $556,176 (-1.8%) 0.97 1,529
    2024-06-01 $415,000 (-5.3%) $524,357 (-6.2%) 0.94 1,673
    2024-07-01 $409,950 (-5.8%) $525,099 (-6.0%) 0.94 1,868
    2024-08-01 $399,900 (-8.6%) $518,584 (-7.8%) 0.93 1,987
    2024-09-01 $401,701 (-6.6%) $518,313 (-6.3%) 0.95 2,091
    2024-10-01 $399,450 (-4.5%) $510,973 (-3.8%) 0.94 2,402
    2024-11-01 $398,676 (-3.9%) $502,364 (-5.3%) 0.96 2,168
    2024-12-01 $397,792 (-3.0%) $502,149 (-4.7%) 0.99 2,024
    2025-01-01 $399,900 (0.0%) $499,789 (-5.2%) 1.00 1,934
    2025-02-01 $400,000 (-0.6%) $507,823 (-4.3%) 0.97 1,969
    2025-03-01 $414,950 (-2.4%) $518,044 (-5.5%) 0.98 2,015
    2025-04-01 $415,750 (-2.2%) $529,999 (-5.2%) 0.96 2,122
    2025-05-01 $415,000 (-2.2%) $536,277 (-3.6%) 0.94 2,201
    Chattanooga's median listing price for 2025-05-01 was $415,000, a difference of $-9,500 (-2.2%) versus the prior year and $-750 versus the prior month.

    Chattanooga's median listing price comes in at 94% of the national average.

    Chattanooga's average listing price for 2025-05-01 was $536,277, a difference of $-19,899 (-3.6%) versus the prior year and $6,278 versus the prior month.

    For the 2025-05-01 period, Chattanooga had 2,201 MLS listings, a difference of 79 listings (4%) versus the prior month and 672 listings (44%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Chattanooga (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 78 days 2,080 sqft
    2018-02-01 73 days 2,090 sqft
    2018-03-01 55 days 2,140 sqft
    2018-04-01 53 days 2,192 sqft
    2018-05-01 50 days 2,227 sqft
    2018-06-01 47 days 2,169 sqft
    2018-07-01 50 days 2,174 sqft
    2018-08-01 59 days 2,165 sqft
    2018-09-01 58 days 2,161 sqft
    2018-10-01 64 days 2,163 sqft
    2018-11-01 67 days 2,169 sqft
    2018-12-01 73 days 2,152 sqft
    2019-01-01 83 days 2,154 sqft
    2019-02-01 72 days 2,151 sqft
    2019-03-01 63 days 2,187 sqft
    2019-04-01 51 days 2,219 sqft
    2019-05-01 50 days 2,228 sqft
    2019-06-01 53 days 2,231 sqft
    2019-07-01 56 days 2,236 sqft
    2019-08-01 57 days 2,229 sqft
    2019-09-01 60 days 2,236 sqft
    2019-10-01 62 days 2,235 sqft
    2019-11-01 64 days 2,217 sqft
    2019-12-01 73 days 2,214 sqft
    2020-01-01 79 days 2,200 sqft
    2020-02-01 71 days 2,197 sqft
    2020-03-01 50 days 2,244 sqft
    2020-04-01 52 days 2,247 sqft
    2020-05-01 60 days 2,298 sqft
    2020-06-01 56 days 2,308 sqft
    2020-07-01 58 days 2,256 sqft
    2020-08-01 52 days 2,229 sqft
    2020-09-01 46 days 2,174 sqft
    2020-10-01 49 days 2,100 sqft
    2020-11-01 53 days 2,072 sqft
    2020-12-01 56 days 2,034 sqft
    2021-01-01 66 days 2,063 sqft
    2021-02-01 44 days 2,075 sqft
    2021-03-01 34 days 2,098 sqft
    2021-04-01 33 days 2,100 sqft
    2021-05-01 23 days 2,100 sqft
    2021-06-01 25 days 2,066 sqft
    2021-07-01 24 days 2,030 sqft
    2021-08-01 28 days 2,002 sqft
    2021-09-01 34 days 2,027 sqft
    2021-10-01 39 days 2,064 sqft
    2021-11-01 39 days 2,123 sqft
    2021-12-01 43 days 2,066 sqft
    2022-01-01 49 days 1,980 sqft
    2022-02-01 36 days 2,030 sqft
    2022-03-01 25 days 2,011 sqft
    2022-04-01 20 days 2,150 sqft
    2022-05-01 22 days 2,209 sqft
    2022-06-01 26 days 2,206 sqft
    2022-07-01 31 days 2,125 sqft
    2022-08-01 37 days 2,102 sqft
    2022-09-01 44 days 2,107 sqft
    2022-10-01 46 days 2,117 sqft
    2022-11-01 52 days 2,092 sqft
    2022-12-01 63 days 2,085 sqft
    2023-01-01 73 days 2,085 sqft
    2023-02-01 60 days 2,089 sqft
    2023-03-01 47 days 2,083 sqft
    2023-04-01 44 days 2,121 sqft
    2023-05-01 43 days 2,130 sqft
    2023-06-01 42 days 2,139 sqft
    2023-07-01 40 days 2,088 sqft
    2023-08-01 44 days 2,065 sqft
    2023-09-01 46 days 2,073 sqft
    2023-10-01 49 days 2,050 sqft
    2023-11-01 52 days 2,021 sqft
    2023-12-01 57 days 1,980 sqft
    2024-01-01 66 days 1,928 sqft
    2024-02-01 54 days 1,939 sqft
    2024-03-01 44 days 1,999 sqft
    2024-04-01 50 days 2,000 sqft
    2024-05-01 46 days 2,000 sqft
    2024-06-01 49 days 2,000 sqft
    2024-07-01 48 days 1,966 sqft
    2024-08-01 50 days 1,932 sqft
    2024-09-01 53 days 1,939 sqft
    2024-10-01 59 days 1,917 sqft
    2024-11-01 66 days 1,910 sqft
    2024-12-01 69 days 1,908 sqft
    2025-01-01 73 days 1,892 sqft
    2025-02-01 65 days 1,916 sqft
    2025-03-01 52 days 1,945 sqft
    2025-04-01 51 days 1,948 sqft
    2025-05-01 52 days 1,960 sqft
    Chattanooga's median listing age (time on market) for 2025-05-01 was 52 days. This is 13% longer than the same period one year ago.

    Chattanooga's median square footage for active listings during the 2025-05-01 period was 1,960 sqft. One year prior, the average listing was 2,000 sqft.

    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.