Cleveland VA Loan Rates, Closing Costs & Stats
CLEVELAND-ELYRIA, OH
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.
Cleveland's 117 lenders originated 2,006 VA
loans during 2024. The total origination value was $556,080,000, with an average VA loan value of
$277,208.
Cleveland VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Cleveland
averaged
0.76%
for the week of 2025-06-20, compared to the national average (all VA variants) of
0% for the same period.
Cleveland's average VA mortgage closing costs are $5,833.
The average rate for the prior week (2025-06-13) was
6.91% and
one month ago for the week of 2025-05-16, the
average rate was 7.07%.
The average rate one year ago was 7.07%.
For refis of the same type during the week of 2025-06-20, the average rate
was 0.94%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Cleveland 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 Cleveland level.
Name |
# of Loans |
2024 Avg. 30yFix Rate |
2024 Avg. Closing Costs |
Mortgage Research Center, LLC
|
441
|
6.39%
|
$5,473
|
CROSSCOUNTRY MORTGAGE, LLC
|
167
|
6.62%
|
$7,057
|
QUICKEN LOANS, LLC
|
155
|
6.04%
|
$10,708
|
UNITED WHOLESALE MORTGAGE, LLC
|
110
|
6.06%
|
$6,928
|
FREEDOM MORTGAGE CORPORATION
|
89
|
6.18%
|
$7,232
|
NAVY FEDERAL CREDIT UNION
|
78
|
5.88%
|
$5,578
|
NVR Mortgage Finance, Inc.
|
65
|
6.09%
|
$5,518
|
PENNYMAC LOAN SERVICES, LLC
|
59
|
5.64%
|
$6,433
|
NEW DAY FINANCIAL, LLC
|
53
|
7.46%
|
$10,388
|
USAA Federal Savings Bank
|
50
|
6.26%
|
$7,401
|
HOWARD HANNA FINANCIAL SERVICES, INC.
|
28
|
6.01%
|
$7,760
|
NEWREZ LLC
|
28
|
6.16%
|
$6,284
|
The Huntington National Bank
|
28
|
6.62%
|
$7,587
|
VILLAGE CAPITAL MORTGAGE
|
26
|
5.72%
|
$4,932
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
24
|
6.35%
|
$10,909
|
LOANDEPOT.COM, LLC
|
20
|
6.17%
|
$9,928
|
Mr. Cooper ( Nationstar Mortgage )
|
20
|
6.39%
|
$6,990
|
S1L, Inc.
|
19
|
6.34%
|
$10,063
|
RUOFF MORTGAGE COMPANY, INC.
|
19
|
6.51%
|
$4,721
|
UNION HOME MORTGAGE CORP.
|
18
|
6.38%
|
$8,945
|
Nations Lending Corporation
|
17
|
6.52%
|
$8,372
|
PULTE MORTGAGE LLC
|
15
|
5.58%
|
$7,015
|
GUARANTEED RATE, INC.
|
14
|
6.26%
|
$5,974
|
LIBERTY HOME MORTGAGE CORPORATION
|
12
|
6.55%
|
$8,995
|
JPMorgan Chase Bank
|
12
|
6.19%
|
$4,294
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
11
|
6.61%
|
$7,344
|
AMERICAN PACIFIC MORTGAGE CORPORATION
|
11
|
6.82%
|
$9,732
|
CLEARPATH LENDING
|
11
|
5.81%
|
$4,728
|
Fifth Third Bank
|
11
|
6.25%
|
$6,039
|
NBKC BANK
|
10
|
6.00%
|
$5,979
|
Equity Prime Mortgage LLC
|
10
|
7.03%
|
$7,566
|
The Federal Savings Bank
|
10
|
6.63%
|
$16,904
|
Magnolia Bank
|
10
|
6.06%
|
$13,113
|
Barrington Bank & Trust Company, N.A.
|
9
|
6.47%
|
$5,762
|
FIRST EQUITY MORTGAGE INCORPORATED
|
9
|
6.11%
|
$10,263
|
NORTHERN MORTGAGE SERVICES, LLC
|
9
|
6.57%
|
$8,916
|
BROKER SOLUTIONS, INC.
|
8
|
6.61%
|
$7,683
|
LAKEVIEW LOAN SERVICING, LLC
|
8
|
5.78%
|
$7,257
|
Carrington Mortgage Services, LLC
|
8
|
6.45%
|
$13,479
|
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C.
|
7
|
5.45%
|
$4,553
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
7
|
6.61%
|
$2,617
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
7
|
7.29%
|
$3,395
|
UNION CAPITAL MORTGAGE CORPORATION
|
6
|
6.04%
|
$8,257
|
YOUR HOME FINANCIAL LLC
|
6
|
6.85%
|
$10,192
|
POLARIS HOME FUNDING CORP.
|
6
|
6.23%
|
$11,789
|
PLANET HOME LENDING, LLC
|
6
|
6.14%
|
$6,499
|
MOVEMENT MORTGAGE, LLC
|
6
|
6.98%
|
$7,066
|
First National Bank of Pennsylvania
|
6
|
6.27%
|
$5,618
|
NFM, INC.
|
5
|
7.03%
|
$9,054
|
U.S. Bank
|
5
|
6.35%
|
$8,135
|
AMERICAN FINANCIAL RESOURCES, INC.
|
5
|
6.63%
|
$9,584
|
CMG MORTGAGE, INC.
|
5
|
6.23%
|
$4,177
|
RELIANCE FIRST CAPITAL, LLC
|
5
|
6.38%
|
$10,796
|
Citizens Bank
|
4
|
6.13%
|
$3,647
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
4
|
7.22%
|
$7,089
|
First Federal Bank
|
4
|
6.03%
|
$6,430
|
First Federal Savings and Loan Association of Lakewood
|
4
|
6.38%
|
$3,797
|
ALLIED MORTGAGE GROUP, INC.
|
4
|
6.22%
|
$8,845
|
Flagstar Bank, FSB
|
4
|
6.57%
|
$6,970
|
Prosperity Home Mortgage, LLC
|
3
|
5.96%
|
$6,263
|
AMERICAN FINANCIAL NETWORK, INC.
|
3
|
6.33%
|
$3,762
|
CANOPY MORTGAGE, LLC
|
3
|
5.13%
|
$34,896
|
CARDINAL FINANCIAL
|
3
|
6.42%
|
$4,714
|
Credence Funding Corporation
|
3
|
5.50%
|
$9,465
|
GENEVA FINANCIAL, LLC
|
3
|
6.88%
|
$5,291
|
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION
|
3
|
6.70%
|
$6,741
|
Ixonia Bank
|
3
|
6.50%
|
$9,183
|
KeyBank
|
3
|
5.75%
|
$10,538
|
LOANPAL, LLC
|
3
|
5.79%
|
$8,468
|
MICHIGAN MUTUAL, INC.
|
3
|
6.50%
|
$3,129
|
Plains Commerce Bank
|
3
|
6.38%
|
$4,487
|
Union Savings Bank
|
3
|
6.25%
|
$4,001
|
VERITAS FUNDING, LLC
|
3
|
6.46%
|
$21,908
|
ZILLOW HOME LOANS, LLC
|
3
|
6.46%
|
$8,546
|
HOMESIDE FINANCIAL, LLC
|
2
|
7.44%
|
$8,097
|
PENTAGON FEDERAL CREDIT UNION
|
2
|
6.06%
|
$9,044
|
TOP FLITE FINANCIAL, INC.
|
2
|
6.00%
|
$5,618
|
HomePromise Corporation
|
2
|
7.06%
|
$7,434
|
ROYAL UNITED MORTGAGE LLC
|
2
|
6.50%
|
$4,523
|
WEST PENN FINANCIAL SERVICE CENTER, INC.
|
2
|
6.63%
|
$9,758
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
2
|
7.50%
|
$13,105
|
CHURCHILL MORTGAGE CORPORATION
|
2
|
6.88%
|
$8,896
|
AMERISAVE MORTGAGE CORPORATION
|
2
|
5.81%
|
$10,741
|
Mid-Continent Funding, Inc.
|
2
|
6.38%
|
$6,321
|
SUN WEST MORTGAGE COMPANY, INC.
|
2
|
7.06%
|
$10,446
|
ABSOLUTE HOME MORTGAGE CORPORATION
|
2
|
6.19%
|
$11,145
|
Texana Bank
|
2
|
7.19%
|
$10,976
|
MORTGAGEONE, INC.
|
2
|
6.94%
|
$4,326
|
PNC Bank
|
2
|
7.19%
|
$3,434
|
GUILD MORTGAGE COMPANY
|
2
|
6.38%
|
$7,746
|
GUARANTEED RATE AFFINITY, LLC
|
1
|
5.63%
|
$2,394
|
The Loan Store, Inc.
|
1
|
5.63%
|
$1,376
|
GoPrime Mortgage, Inc.
|
1
|
6.75%
|
$8,733
|
First Federal Bank of the Midwest
|
1
|
6.63%
|
$4,979
|
EMBRACE HOME LOANS, INC.
|
1
|
5.75%
|
$6,061
|
US MORTGAGE CORPORATION
|
1
|
6.75%
|
$8,451
|
VANDERBILT MORTGAGE AND FINANCE, INC.
|
1
|
5.63%
|
$6,191
|
AMERICAN FINANCING CORPORATION
|
1
|
6.63%
|
$9,767
|
North American Savings Bank, F.S.B.
|
1
|
5.99%
|
$4,163
|
Northwest Bank
|
1
|
6.50%
|
$3,986
|
Old National Bank
|
1
|
5.88%
|
$7,546
|
MORTGAGE ACCESS CORP.
|
1
|
5.50%
|
$4,519
|
OPEN MORTGAGE, LLC
|
1
|
6.75%
|
$8,530
|
Paramount Residential Mortgage Group, Inc.
|
1
|
6.13%
|
$4,298
|
MORIA DEVELOPMENT, INC.
|
1
|
6.75%
|
$8,543
|
PHH Mortgage Corporation
|
1
|
5.63%
|
$7,291
|
AmeriHome Mortgage Company, LLC
|
1
|
6.63%
|
$5,237
|
PLAZA HOME MORTGAGE, INC.
|
1
|
6.25%
|
$11,536
|
PLUS RELOCATION MORTGAGE, LLC
|
1
|
6.25%
|
$9,878
|
MID AMERICA MORTGAGE, INC.
|
1
|
5.38%
|
$8,117
|
Lakeview Community Capital, LLC
|
1
|
5.75%
|
$10,309
|
Hometown Equity Mortgage, LLC
|
1
|
7.63%
|
$5,441
|
RAPID MORTGAGE COMPANY
|
1
|
7.13%
|
$13,889
|
HIGHLANDS RESIDENTIAL MORTGAGE, LTD.
|
1
|
5.75%
|
$10,408
|
HALLMARK HOME MORTGAGE, LLC
|
1
|
7.75%
|
$5,340
|
T2 FINANCIAL LLC
|
1
|
6.13%
|
$7,307
|
The Farmers National Bank of Canfield
|
1
|
5.75%
|
$8,944
|
The top Cleveland VA lender as defined by loan originations is Mortgage Research Center, LLC, with
441 VA loans originated. Their average total fees are
$5,473, which is $1,584
lower than the next largest lender,
CROSSCOUNTRY MORTGAGE, LLC.
The lowest fee Cleveland VA lenders (with over 10 loans originated) are
JPMorgan Chase Bank ($4,294), RUOFF MORTGAGE COMPANY, INC. ($4,721), CLEARPATH LENDING ($4,728), VILLAGE CAPITAL MORTGAGE ($4,932) and Mortgage Research Center, LLC ($5,473).
The lowest rate Cleveland VA lenders (with over 10 loans originated) are
PULTE MORTGAGE LLC (5.58%), PENNYMAC LOAN SERVICES, LLC (5.64%), VILLAGE CAPITAL MORTGAGE (5.72%), CLEARPATH LENDING (5.81%) and NAVY FEDERAL CREDIT UNION (5.88%).
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.