Cleveland VA Loan Rates, Closing Costs & Stats

CLEVELAND-ELYRIA, 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.

    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.