Chillicothe VA Loan Rates, Closing Costs & Stats

Chillicothe, OH

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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.

    Chillicothe's 30 lenders originated 92 VA loans during 2023. The total origination value was $21,860,000, with an average VA loan value of $237,609.

    Chillicothe VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Chillicothe averaged 6.89% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Chillicothe's average VA mortgage closing costs are $4,838.

    The average rate for the prior week (2024-11-01) was 6.85% and one month ago for the week of 2024-10-04, the average rate was 6.17%.

    The average rate one year ago was 7.53%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.54%.

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

    Chillicothe 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 Chillicothe level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 17 6.74% $7,430
    GUARANTEED RATE, INC. 17 6.44% $4,534
    UNION HOME MORTGAGE CORP. 10 7.00% $6,122
    NEW DAY FINANCIAL, LLC 6 7.54% $10,635
    QUICKEN LOANS, LLC 5 6.77% $4,772
    CROSSCOUNTRY MORTGAGE, LLC 3 7.08% $4,422
    RAPID MORTGAGE COMPANY 3 7.13% $6,681
    Fifth Third Bank 3 6.33% $7,467
    UNITED WHOLESALE MORTGAGE, LLC 2 6.47% $5,840
    USAA Federal Savings Bank 2 6.19% $4,911
    NAVY FEDERAL CREDIT UNION 2 6.31% $1,919
    FREEDOM MORTGAGE CORPORATION 2 7.00% $6,031
    Paramount Residential Mortgage Group, Inc. 1 5.63% $13,560
    POLARIS HOME FUNDING CORP. 1 6.25% $10,722
    RUOFF MORTGAGE COMPANY, INC. 1 6.75% $3,693
    The Huntington National Bank 1 6.63% $2,406
    VILLAGE CAPITAL MORTGAGE 1 5.25% $3,829
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $15,304
    WesBanco 1 5.88% $2,844
    Barrington Bank & Trust Company, N.A. 1 7.25% $625
    BROKER SOLUTIONS, INC. 1 7.25% $11,138
    DAS Acquisition Company, LLC 1 7.00% $4,311
    FIRST COMMUNITY MORTGAGE, INC. 1 7.00% $13,760
    Flagstar Bank, FSB 1 6.25% $4,580
    Gateway First Bank 1 7.25% $2,921
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.38% $6,786
    HOMELAND CREDIT UNION, INC. 1 7.13% $13,227
    LOANDEPOT.COM, LLC 1 4.99% $15,016
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $9,260
    NFM, INC. 1 7.38% $9,092

    The top Chillicothe VA lender as defined by loan originations is Mortgage Research Center, LLC, with 17 VA loans originated. Their average total fees are $7,430, which is $2,896 higher than the next largest lender, GUARANTEED RATE, INC..

    The lowest fee Chillicothe VA lenders (with over 10 loans originated) are GUARANTEED RATE, INC. ($4,534), UNION HOME MORTGAGE CORP. ($6,122), Mortgage Research Center, LLC ($7,430), .

    The lowest rate Chillicothe VA lenders (with over 10 loans originated) are GUARANTEED RATE, INC. (6.44%), Mortgage Research Center, LLC (6.74%), UNION HOME MORTGAGE CORP. (7.00%), .

    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.