Columbus VA Loan Rates, Closing Costs & Stats

Columbus, MS

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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 52 lenders originated 197 VA loans during 2024. The total origination value was $54,185,000, with an average VA loan value of $275,051.

    Columbus VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Columbus averaged 0.28% for the week of 2025-07-04, compared to the national average (all VA variants) of 0% for the same period.

    Columbus's average VA mortgage closing costs are $5,800.

    The average rate for the prior week (2025-06-27) was 6.71% and one month ago for the week of 2025-05-30, the average rate was 6.94%.

    The average rate one year ago was 6.85%.

    For refis of the same type during the week of 2025-07-04, the average rate was 0.04%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 50 6.46% $5,991
    Magnolia Bank 10 6.51% $8,134
    QUICKEN LOANS, LLC 10 6.05% $10,364
    UNITED WHOLESALE MORTGAGE, LLC 9 5.55% $5,572
    Renasant Bank 7 6.50% $6,385
    FIRST COLONY MORTGAGE CORPORATION 6 5.90% $10,035
    Flagstar Bank, FSB 5 6.45% $9,393
    USAA Federal Savings Bank 5 5.93% $11,791
    PENNYMAC LOAN SERVICES, LLC 4 5.47% $7,669
    FREEDOM MORTGAGE CORPORATION 4 6.00% $4,751
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.25% $1,259
    NEWREZ LLC 4 5.35% $6,641
    NAVY FEDERAL CREDIT UNION 3 5.88% $6,251
    BancorpSouth 3 6.54% $1,791
    LEADERONE FINANCIAL CORPORATION 3 7.21% $5,287
    Trustmark National Bank 3 6.13% $2,235
    LAND HOME FINANCIAL SERVICES, INC. 2 6.44% $22,380
    The Federal Savings Bank 2 6.06% $11,282
    PLANET HOME LENDING, LLC 2 5.99% $5,431
    Mid-Continent Funding, Inc. 2 6.63% $10,672
    Bank of England 2 6.69% $4,103
    LOANDEPOT.COM, LLC 2 6.12% $8,573
    CARDINAL FINANCIAL 2 7.19% $7,246
    CROSSCOUNTRY MORTGAGE, LLC 2 6.50% $14,882
    Sunflower Bank 1 6.63% $15,198
    The Citizens National Bank of Meridian 1 7.38% $3,554
    U.S. Bank 1 6.63% $6,076
    Academy Bank 1 6.75% $2,864
    VILLAGE CAPITAL MORTGAGE 1 5.75% $7,938
    ALLIANT CREDIT UNION 1 5.13% $7,890
    Barrington Bank & Trust Company, N.A. 1 6.25% $8,836
    BROKER SOLUTIONS, INC. 1 7.25% $11,808
    CALCON MUTUAL MORTGAGE LLC 1 6.13% $0
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.63% $4,064
    City National Bank of Florida 1 5.99% $4,015
    CMG MORTGAGE, INC. 1 6.25% $5,722
    EVANSVILLE TEACHERS 1 6.75% $4,024
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $14,637
    FIRST COMMUNITY MORTGAGE, INC. 1 6.49% $3,860
    First Federal Bank 1 6.00% $13,843
    GENEVA FINANCIAL, LLC 1 5.13% $5,065
    Goldwater Bank, N.A. 1 7.00% $34,763
    GUARANTEED RATE, INC. 1 6.13% $650
    GUILD MORTGAGE COMPANY 1 7.13% $3,540
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $1,341
    MOVEMENT MORTGAGE, LLC 1 5.25% $10,703
    NBKC BANK 1 5.99% $6,568
    NEW DAY FINANCIAL, LLC 1 7.99% $9,081
    PENTAGON FEDERAL CREDIT UNION 1 5.50% $18,346
    PLAZA HOME MORTGAGE, INC. 1 6.25% $4,512
    SIRVA MORTGAGE, INC. 1 6.38% $2,822
    STOCKTON MORTGAGE CORPORATION 1 6.25% $8,044

    The top Columbus VA lender as defined by loan originations is Mortgage Research Center, LLC, with 50 VA loans originated. Their average total fees are $5,991, which is $2,143 lower than the next largest lender, Magnolia Bank.

    The lowest fee Columbus VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,991), Magnolia Bank ($8,134), QUICKEN LOANS, LLC ($10,364), .

    The lowest rate Columbus VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.05%), Mortgage Research Center, LLC (6.46%), Magnolia Bank (6.51%), .

    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.