Columbus VA Loan Rates, Closing Costs & Stats

COLUMBUS, GA-AL

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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.

    Columbus's 111 lenders originated 1,508 VA loans during 2023. The total origination value was $413,440,000, with an average VA loan value of $274,164.

    Columbus VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Columbus averaged 6.32% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Columbus's average VA mortgage closing costs are $5,652.

    The average rate for the prior week (2024-11-01) was 6.27% and one month ago for the week of 2024-10-04, the average rate was 6%.

    The average rate one year ago was 7.66%.

    For refis of the same type during the week of 2024-11-08, the average rate was 7.04%.

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

    Columbus 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 Columbus level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 245 6.79% $5,683
    CMG MORTGAGE, INC. 92 6.50% $10,640
    UNITED WHOLESALE MORTGAGE, LLC 84 6.38% $8,571
    NAVY FEDERAL CREDIT UNION 64 5.79% $5,927
    Northpointe Bank 61 6.37% $8,064
    CANOPY MORTGAGE, LLC 59 6.67% $14,411
    QUICKEN LOANS, LLC 55 6.29% $9,169
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 52 6.30% $10,320
    MOVEMENT MORTGAGE, LLC 52 6.58% $7,902
    HOMESTAR FINANCIAL CORPORATION 41 6.09% $7,576
    GUARANTEED RATE, INC. 40 6.27% $8,931
    VANDERBILT MORTGAGE AND FINANCE, INC. 37 6.22% $6,714
    BROKER SOLUTIONS, INC. 37 5.99% $9,928
    CROSSCOUNTRY MORTGAGE, LLC 37 6.65% $6,071
    PENNYMAC LOAN SERVICES, LLC 33 5.30% $6,308
    USAA Federal Savings Bank 31 6.19% $9,952
    FREEDOM MORTGAGE CORPORATION 30 6.61% $12,043
    Synovus Bank 28 6.15% $8,148
    GUILD MORTGAGE COMPANY 25 6.28% $10,449
    NEW DAY FINANCIAL, LLC 23 7.54% $11,372
    ENVOY MORTGAGE, LTD 17 6.47% $10,114
    Mr. Cooper ( Nationstar Mortgage ) 16 6.03% $12,300
    LOANDEPOT.COM, LLC 16 6.35% $9,893
    The Federal Savings Bank 14 6.65% $12,821
    RUOFF MORTGAGE COMPANY, INC. 13 6.68% $6,150
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 6.96% $6,160
    EVERETT FINANCIAL, INC. 11 7.34% $8,119
    MORTGAGE SOLUTIONS OF COLORADO, LLC 11 7.81% $4,049
    NEWREZ LLC 10 6.69% $7,206
    Armed Forces Bank 8 5.98% $7,245
    PENTAGON FEDERAL CREDIT UNION 8 5.61% $7,180
    Renasant Bank 8 6.08% $6,371
    Wells Fargo Bank 7 6.14% $2,794
    VILLAGE CAPITAL MORTGAGE 7 6.47% $9,790
    CARDINAL FINANCIAL 7 6.32% $7,800
    Barrington Bank & Trust Company, N.A. 7 6.59% $6,792
    Plains Commerce Bank 6 6.15% $9,063
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.81% $4,750
    Trustmark National Bank 5 5.90% $5,169
    INTERLINC MORTGAGE SERVICES, LLC 5 6.40% $6,867
    STOCKTON MORTGAGE CORPORATION 4 6.19% $6,282
    OPEN MORTGAGE, LLC 4 6.66% $6,039
    ROYAL UNITED MORTGAGE LLC 4 7.00% $8,337
    Flagstar Bank, FSB 4 7.09% $5,633
    Cornerstone First Mortgage, Inc 4 7.06% $5,569
    Mid-Continent Funding, Inc. 3 6.63% $9,428
    First Federal Bank 3 6.67% $2,883
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.33% $11,907
    RELIANCE FIRST CAPITAL, LLC 3 6.83% $6,549
    AMERISAVE MORTGAGE CORPORATION 3 5.92% $13,077
    Equity Prime Mortgage LLC 3 6.63% $6,111
    LOANPAL, LLC 3 5.91% $14,174
    Lakeview Community Capital, LLC 3 6.25% $9,959
    CERTAINTY HOME LOANS, LLC 3 5.25% $9,402
    Prosperity Home Mortgage, LLC 2 6.19% $7,649
    PLANET HOME LENDING, LLC 2 6.25% $8,331
    NBKC BANK 2 6.31% $6,813
    PHH Mortgage Corporation 2 7.06% $5,410
    Hometown Equity Mortgage, LLC 2 6.25% $7,452
    HomePromise Corporation 2 6.06% $15,203
    TJC Mortgage, Inc. 2 5.50% $15,039
    THRIVE MORTGAGE, LLC 2 7.13% $13,227
    AMERICAN FINANCIAL NETWORK, INC. 2 6.25% $8,659
    MILEND, INC. 2 7.13% $13,894
    Paramount Residential Mortgage Group, Inc. 2 7.00% $4,511
    South State Bank 2 6.25% $7,918
    Franklin Loan Corporation 2 6.69% $12,489
    American Mortgage & Equity Consultants, Inc. 2 6.94% $13,088
    SUN WEST MORTGAGE COMPANY, INC. 1 6.88% $7,428
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $9,919
    AmeriHome Mortgage Company, LLC 1 5.50% $12,178
    Ameris Bank 1 6.25% $3,411
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $19,243
    AUGUSTA MORTGAGE CO. 1 5.75% $22,454
    Bank of England 1 4.75% $11,059
    Bank of the Pacific 1 6.25% $2,452
    BNC National Bank 1 5.25% $9,645
    CALCON MUTUAL MORTGAGE LLC 1 8.13% $10,201
    CHURCHILL MORTGAGE CORPORATION 1 7.13% $15,186
    CityWorth Mortgage LLC 1 5.75% $800
    CONTOUR MORTGAGE CORPORATION 1 8.25% $18,491
    EVANSVILLE TEACHERS 1 6.13% $7,748
    FBC MORTGAGE, LLC 1 4.75% $11,385
    Fifth Third Bank 1 5.88% $6,611
    First National Bank Texas 1 6.25% $5,028
    GARDNER FINANCIAL SERVICES, LTD. 1 6.88% $16,427
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $2,913
    GUARANTY MORTGAGE SERVICES, L.L.C. 1 6.25% $11,758
    Ixonia Bank 1 6.88% $16,656
    Magnolia Bank 1 5.13% $27,661
    MASON MCDUFFIE MORTGAGE CORPORATION 1 6.75% $5,944
    MORTGAGE INVESTORS GROUP, INC. 1 7.13% $7,526
    MORTGAGEONE, INC. 1 8.50% $4,298
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $11,068
    NBH Bank 1 6.38% $18,385
    NFM, INC. 1 6.13% $20,766
    PLAZA HOME MORTGAGE, INC. 1 4.99% $9,450
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.75% $16,642
    Presidential Bank, FSB 1 5.75% $5,022
    Princeton Mortgage Corporation 1 5.99% $8,285
    Regions Bank 1 6.25% $6,420
    RESIDENTIAL BANCORP 1 6.25% $11,518
    Shamrock Home Loans, Inc. 1 6.50% $2,674
    SouthPoint Bank 1 7.13% $6,013
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 7.25% $2,973
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $9,162
    SUMMIT FUNDING, INC. 1 5.63% $8,311
    ACADEMY MORTGAGE CORPORATION 1 6.63% $11,207
    SWBC MORTGAGE CORPORATION 1 6.75% $5,074
    The Central Trust Bank 1 5.25% $9,051
    UNION HOME MORTGAGE CORP. 1 6.38% $18,619

    The top Columbus VA lender as defined by loan originations is Mortgage Research Center, LLC, with 245 VA loans originated. Their average total fees are $5,683, which is $4,957 lower than the next largest lender, CMG MORTGAGE, INC..

    The lowest fee Columbus VA lenders (with over 10 loans originated) are MORTGAGE SOLUTIONS OF COLORADO, LLC ($4,049), Mortgage Research Center, LLC ($5,683), NAVY FEDERAL CREDIT UNION ($5,927), CROSSCOUNTRY MORTGAGE, LLC ($6,071) and RUOFF MORTGAGE COMPANY, INC. ($6,150).

    The lowest rate Columbus VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.30%), NAVY FEDERAL CREDIT UNION (5.79%), BROKER SOLUTIONS, INC. (5.99%), Mr. Cooper ( Nationstar Mortgage ) (6.03%) and HOMESTAR FINANCIAL CORPORATION (6.09%).

    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.