Columbia VA Loan Rates, Closing Costs & Stats

COLUMBIA, MO

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.

Columbia's 46 lenders originated 303 VA loans during 2024. The total origination value was $97,505,000, with an average VA loan value of $321,799.

Columbia VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Columbia averaged 0.43% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

Columbia's average VA mortgage closing costs are $4,617.

The average rate for the prior week (2025-06-13) was 6.97% and one month ago for the week of 2025-05-16, the average rate was 6.83%.

The average rate one year ago was 7.03%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.22%.

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

Columbia 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 Columbia level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 94 6.33% $4,624
FLAT BRANCH MORTGAGE, INC. 31 6.42% $4,950
PENNYMAC LOAN SERVICES, LLC 18 5.54% $6,665
QUICKEN LOANS, LLC 17 6.29% $9,942
UNITED WHOLESALE MORTGAGE, LLC 16 5.90% $5,666
FREEDOM MORTGAGE CORPORATION 11 6.34% $5,195
Mid-Continent Funding, Inc. 9 5.79% $7,798
NEWREZ LLC 9 6.01% $3,677
The Central Trust Bank 7 6.43% $14,141
NEW DAY FINANCIAL, LLC 7 7.48% $11,118
VILLAGE CAPITAL MORTGAGE 6 6.08% $5,648
DAS Acquisition Company, LLC 5 6.53% $13,104
First Federal Bank 5 5.95% $4,666
NAVY FEDERAL CREDIT UNION 4 6.00% $7,326
Midwest Mortgage Associates Corporation 4 6.63% $2,770
LOANDEPOT.COM, LLC 3 5.87% $8,544
Barrington Bank & Trust Company, N.A. 3 6.58% $8,423
USAA Federal Savings Bank 3 6.42% $14,094
U.S. Bank 3 6.21% $5,724
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.00% $1,792
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.50% $3,585
ON Q FINANCIAL, INC. 2 6.00% $8,864
NBKC BANK 2 5.93% $7,229
Bell Bank 2 6.69% $1,231
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.38% $10,199
GUARANTEED RATE, INC. 2 5.95% $2,194
Magnolia Bank 2 5.75% $8,726
PENTAGON FEDERAL CREDIT UNION 1 7.13% $2,074
PLANET HOME LENDING, LLC 1 5.99% $3,159
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.99% $8,600
First State Bank of St. Charles, Missouri 1 5.50% $22,513
R-G Federal Credit Union 1 6.25% $18,857
SeaTrust Mortgage Company 1 7.00% $2,374
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $5,321
The Huntington National Bank 1 6.50% $10,604
UMB Bank 1 5.63% $2,251
UNION HOME MORTGAGE CORP. 1 6.63% $4,173
LENOX FINANCIAL MORTGAGE CORPORATION 1 5.75% $5,315
AMERISAVE MORTGAGE CORPORATION 1 6.13% $5,231
LAKEVIEW LOAN SERVICING, LLC 1 5.75% $10,752
HOMESIDE FINANCIAL, LLC 1 6.12% $12,443
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $11,967
Hawthorn Bank 1 5.99% $2,141
Goldwater Bank, N.A. 1 8.99% $33,806
NFM, INC. 1 7.88% $3,852
GERSHMAN INVESTMENT CORP. 1 6.13% $96

The top Columbia VA lender as defined by loan originations is Mortgage Research Center, LLC, with 94 VA loans originated. Their average total fees are $4,624, which is $326 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

The lowest fee Columbia VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,624), FLAT BRANCH MORTGAGE, INC. ($4,950), FREEDOM MORTGAGE CORPORATION ($5,195), UNITED WHOLESALE MORTGAGE, LLC ($5,666) and PENNYMAC LOAN SERVICES, LLC ($6,665).

The lowest rate Columbia VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.54%), UNITED WHOLESALE MORTGAGE, LLC (5.90%), QUICKEN LOANS, LLC (6.29%), Mortgage Research Center, LLC (6.33%) and FREEDOM MORTGAGE CORPORATION (6.34%).

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.