Cheyenne VA Loan Rates, Closing Costs & Stats

CHEYENNE, WY

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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.

    Cheyenne's 53 lenders originated 446 VA loans during 2023. The total origination value was $162,950,000, with an average VA loan value of $365,359.

    Cheyenne VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Cheyenne averaged 6.12% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Cheyenne's average VA mortgage closing costs are $7,003.

    The average rate for the prior week (2024-11-01) was 6.37% and one month ago for the week of 2024-10-04, the average rate was 5.4%.

    The average rate one year ago was 7.16%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.14%.

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

    Cheyenne 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 Cheyenne level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 52 6.67% $6,978
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 50 6.37% $8,779
    Wallick & Volk, Inc. 30 6.15% $11,578
    QUICKEN LOANS, LLC 27 5.96% $10,145
    CROSSCOUNTRY MORTGAGE, LLC 25 6.14% $9,904
    Jonah Bank of Wyoming 21 6.12% $8,019
    GUILD MORTGAGE COMPANY 17 6.21% $10,881
    NAVY FEDERAL CREDIT UNION 15 5.58% $6,518
    First Interstate Bank 13 5.85% $11,416
    CORNERSTONE HOME LENDING, INC. 11 6.14% $11,061
    AMERICAN PACIFIC MORTGAGE CORPORATION 10 6.13% $12,937
    USAA Federal Savings Bank 10 6.24% $9,332
    U.S. Bank 8 6.25% $9,038
    UNITED WHOLESALE MORTGAGE, LLC 7 6.66% $10,657
    Mr. Cooper ( Nationstar Mortgage ) 7 6.00% $19,301
    PENTAGON FEDERAL CREDIT UNION 6 5.44% $9,670
    CENTENNIAL LENDING, LLC 6 6.00% $7,395
    PENNYMAC LOAN SERVICES, LLC 5 5.53% $6,408
    NEW DAY FINANCIAL, LLC 5 7.52% $14,447
    FREEDOM MORTGAGE CORPORATION 5 6.15% $17,953
    The Federal Savings Bank 4 6.25% $18,219
    BROKER SOLUTIONS, INC. 3 6.46% $9,057
    AMERICAN FINANCIAL NETWORK, INC. 3 6.04% $3,918
    Century Mortgage Company DBA Century Lending Company 3 5.79% $5,047
    CMG MORTGAGE, INC. 3 6.91% $8,855
    LOANDEPOT.COM, LLC 3 5.95% $17,042
    TOWNE MORTGAGE COMPANY 3 5.88% $7,671
    Unify Home Lending Inc. 3 5.83% $2,981
    VILLAGE CAPITAL MORTGAGE 3 6.04% $8,741
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.50% $5,402
    Barrington Bank & Trust Company, N.A. 2 5.50% $10,211
    First National Bank of Omaha 2 6.13% $19,204
    AMERICAN FINANCING CORPORATION 2 6.69% $10,768
    BAY EQUITY LLC 2 6.81% $2,652
    GUARANTEED RATE, INC. 2 6.21% $12,041
    CRESCENT MORTGAGE COMPANY 1 7.13% $22,533
    PLANET HOME LENDING, LLC 1 3.63% $3,045
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.75% $14,550
    Colonial Savings, F.A. 1 5.63% $22,114
    GUARANTEED RATE AFFINITY, LLC 1 6.00% $20,790
    SUMMIT FUNDING, INC. 1 5.99% $16,890
    CHURCHILL MORTGAGE CORPORATION 1 7.00% $4,291
    VERITAS FUNDING, LLC 1 7.25% $22,183
    UNIVERSAL LENDING CORPORATION 1 5.75% $5,248
    JPMorgan Chase Bank 1 5.25% $500
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.63% $13,387
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.13% $7,714
    RELIANCE FIRST CAPITAL, LLC 1 6.38% $16,063
    NBKC BANK 1 5.63% $12,041
    First State Bank 1 6.00% $12,120
    NEWREZ LLC 1 6.75% $16,059
    North American Savings Bank, F.S.B. 1 5.50% $11,096
    Peak Financial 1 5.75% $5,248

    The top Cheyenne VA lender as defined by loan originations is Mortgage Research Center, LLC, with 52 VA loans originated. Their average total fees are $6,978, which is $1,801 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Cheyenne VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($6,518), Mortgage Research Center, LLC ($6,978), Jonah Bank of Wyoming ($8,019), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,779) and USAA Federal Savings Bank ($9,332).

    The lowest rate Cheyenne VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.58%), First Interstate Bank (5.85%), QUICKEN LOANS, LLC (5.96%), Jonah Bank of Wyoming (6.12%) and AMERICAN PACIFIC MORTGAGE CORPORATION (6.13%).

    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.