Cookeville VA Loan Rates, Closing Costs & Stats

Cookeville, TN

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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.

    Cookeville's 56 lenders originated 214 VA loans during 2024. The total origination value was $71,890,000, with an average VA loan value of $335,935.

    Cookeville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Cookeville averaged 6.91% for the week of 2025-06-27, compared to the national average (all VA variants) of 6.336% for the same period.

    Cookeville's average VA mortgage closing costs are $6,225.

    The average rate for the prior week (2025-06-20) was 6.8% and one month ago for the week of 2025-05-23, the average rate was 6.88%.

    The average rate one year ago was 6.81%.

    For refis of the same type during the week of 2025-06-27, the average rate was 6.38%.

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

    Cookeville 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 Cookeville level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 35 6.39% $6,465
    UNITED WHOLESALE MORTGAGE, LLC 18 5.90% $9,914
    QUICKEN LOANS, LLC 12 6.10% $8,835
    NAVY FEDERAL CREDIT UNION 9 5.76% $2,280
    PENNYMAC LOAN SERVICES, LLC 8 5.75% $7,615
    UNION HOME MORTGAGE CORP. 8 6.50% $8,959
    USAA Federal Savings Bank 7 5.89% $7,096
    FREEDOM MORTGAGE CORPORATION 7 6.02% $4,987
    DHI MORTGAGE COMPANY, LTD. 6 5.16% $6,885
    AMERICAN FINANCIAL NETWORK, INC. 6 6.88% $6,428
    GUARANTY MORTGAGE SERVICES, L.L.C. 5 6.65% $6,379
    CROSSCOUNTRY MORTGAGE, LLC 5 6.13% $4,545
    MORTGAGE INVESTORS GROUP, INC. 4 6.47% $3,489
    U.S. Bank 4 6.41% $10,367
    CMG MORTGAGE, INC. 4 6.28% $10,416
    LOANDEPOT.COM, LLC 4 5.84% $10,780
    SOUTHWEST FUNDING, LP 3 6.83% $6,941
    GUARANTEED RATE, INC. 3 5.87% $8,539
    PLANET HOME LENDING, LLC 3 6.16% $8,320
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.19% $6,395
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.00% $12,783
    BROKER SOLUTIONS, INC. 2 6.25% $15,141
    FirstBank 2 6.56% $7,173
    LAKEVIEW LOAN SERVICING, LLC 2 5.63% $6,367
    NEW DAY FINANCIAL, LLC 2 7.87% $8,920
    NEWREZ LLC 2 6.25% $8,981
    SmartBank 2 6.25% $11,560
    VAN DYK MORTGAGE CORPORATION 2 6.37% $401
    VILLAGE CAPITAL MORTGAGE 2 5.75% $6,789
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $2,230
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $0
    MOVEMENT MORTGAGE, LLC 1 5.75% $2,373
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $9,926
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.25% $10,763
    Equity Prime Mortgage LLC 1 6.75% $5,246
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.25% $7,661
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 4.99% $19,474
    EMBRACE HOME LOANS, INC. 1 6.25% $7,691
    PHH Mortgage Corporation 1 5.63% $7,263
    Plains Commerce Bank 1 5.50% $30,710
    DIRECT MORTGAGE LOANS, LLC 1 6.12% $16,466
    Citizens Bank 1 6.75% $4,458
    CHURCHILL MORTGAGE CORPORATION 1 6.63% $6,920
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.75% $2,018
    Carrington Mortgage Services, LLC 1 6.63% $11,761
    STOCKTON MORTGAGE CORPORATION 1 6.75% $3,275
    SUMMIT FUNDING, INC. 1 7.25% $7,092
    The Federal Savings Bank 1 7.13% $9,858
    The First National Bank of Middle Tennessee 1 6.63% $3,561
    The Loan Store, Inc. 1 4.75% $12,559
    CARDINAL FINANCIAL 1 6.75% $9,960
    First Western Trust Bank 1 6.75% $650
    LOANPAL, LLC 1 5.63% $17,030
    MID AMERICA MORTGAGE, INC. 1 5.75% $3,190
    FIRST COMMUNITY MORTGAGE, INC. 1 6.38% $9,462
    MORTGAGEONE, INC. 1 6.50% $6,326

    The top Cookeville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 35 VA loans originated. Their average total fees are $6,465, which is $3,449 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Cookeville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,465), QUICKEN LOANS, LLC ($8,835), UNITED WHOLESALE MORTGAGE, LLC ($9,914), .

    The lowest rate Cookeville VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.90%), QUICKEN LOANS, LLC (6.10%), Mortgage Research Center, LLC (6.39%), .

    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.