Concord VA Loan Rates, Closing Costs & Stats
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.
Concord's 44 lenders originated 215 VA loans during 2022. The total origination value was $77,175,000, with an average VA loan value of $358,953.
Concord VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Concord
for the week of 2023-12-08, compared to the national average (all VA variants) of
6.544% for the same period.
Concord's average VA mortgage closing costs are $6,076.
The average rate for the prior week (2023-12-01) was 6.89% and one month ago for the week of 2023-11-03, the average rate was 7.13%.
The average rate one year ago was 6.19%.
For refis of the same type during the week of 2023-12-08, the average rate was 5.15%.
Concord 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 Concord level.
The top Concord VA lender as defined by loan originations is Mortgage Research Center, LLC, with
43 VA loans originated. Their average total fees are
$10,494, which is $3,440
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Concord VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($6,775), CMG MORTGAGE, INC. ($8,442), UNITED WHOLESALE MORTGAGE, LLC ($9,147), Mortgage Research Center, LLC ($10,494) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($11,114).
The lowest rate Concord VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (4.01%), UNITED WHOLESALE MORTGAGE, LLC (4.15%), CMG MORTGAGE, INC. (4.68%), QUICKEN LOANS, LLC (5.06%) and Mortgage Research Center, LLC (5.14%).