Clewiston VA Loan Rates, Closing Costs & Stats

Clewiston, FL

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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.

    Clewiston's 25 lenders originated 43 VA loans during 2023. The total origination value was $12,685,000, with an average VA loan value of $295,000.

    Clewiston VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Clewiston averaged 6.63% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Clewiston's average VA mortgage closing costs are $6,751.

    The average rate for the prior week (2024-11-01) was 6.29% and one month ago for the week of 2024-10-04, the average rate was 5.81%.

    The average rate one year ago was 7.27%.

    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.

    Clewiston 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 Clewiston level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 5 6.68% $8,324
    DHI MORTGAGE COMPANY, LTD. 5 5.97% $6,490
    CROSSCOUNTRY MORTGAGE, LLC 4 6.75% $8,555
    UNITED WHOLESALE MORTGAGE, LLC 3 6.33% $17,334
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 5.87% $6,617
    NAVY FEDERAL CREDIT UNION 2 5.75% $5,544
    Waterstone Mortgage Corporation 2 6.38% $13,788
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.25% $6,691
    HOMESIDE FINANCIAL, LLC 1 6.25% $7,627
    AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $9,376
    LOANDEPOT.COM, LLC 1 6.50% $3,347
    Mid-Continent Funding, Inc. 1 7.75% $13,613
    Mr. Cooper ( Nationstar Mortgage ) 1 7.25% $3,474
    NATIONS RELIABLE LENDING, LLC 1 5.75% $5,854
    NEW DAY FINANCIAL, LLC 1 6.75% $11,502
    NEWREZ LLC 1 6.25% $7,366
    Paramount Residential Mortgage Group, Inc. 1 6.25% $6,202
    Truist 1 6.25% $943
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $5,750
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $10,589
    CARDINAL FINANCIAL 1 5.50% $14,106
    Century Mortgage Company DBA Century Lending Company 1 7.25% $11,044
    FIRST COMMUNITY MORTGAGE, INC. 1 7.50% $6,678
    First Federal Bank 1 6.63% $7,801
    GUILD MORTGAGE COMPANY 1 6.00% $5,146

    The top Clewiston VA lender as defined by loan originations is Mortgage Research Center, LLC, with 5 VA loans originated. Their average total fees are $8,324, which is $1,834 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Clewiston VA lenders (with over 10 loans originated) are .

    The lowest rate Clewiston VA lenders (with over 10 loans originated) are .

    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.