Crossville VA Loan Rates, Closing Costs & Stats

Crossville, 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.

    Crossville's 48 lenders originated 135 VA loans during 2023. The total origination value was $41,855,000, with an average VA loan value of $310,037.

    Crossville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Crossville averaged 6.43% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Crossville's average VA mortgage closing costs are $5,433.

    The average rate for the prior week (2024-07-12) was 6.68% and one month ago for the week of 2024-06-14, the average rate was 6.74%.

    The average rate one year ago was 7.02%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.3%.

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

    Crossville 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 Crossville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 21 6.77% $4,376
    PENNYMAC LOAN SERVICES, LLC 11 5.78% $6,083
    QUICKEN LOANS, LLC 10 5.95% $11,982
    VAN DYK MORTGAGE CORPORATION 7 7.16% $10,720
    UNITED WHOLESALE MORTGAGE, LLC 6 6.06% $10,210
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.78% $3,375
    NEW DAY FINANCIAL, LLC 4 7.21% $14,588
    LOANDEPOT.COM, LLC 4 6.50% $18,389
    Flagstar Bank, FSB 3 6.91% $3,481
    MORTGAGE INVESTORS GROUP, INC. 3 6.79% $5,679
    PENTAGON FEDERAL CREDIT UNION 3 5.58% $10,542
    NAVY FEDERAL CREDIT UNION 3 6.13% $8,054
    USAA Federal Savings Bank 3 5.75% $5,905
    NEWREZ LLC 3 5.92% $9,674
    FirstBank 2 6.13% $8,265
    DAS Acquisition Company, LLC 2 7.25% $6,834
    CMG MORTGAGE, INC. 2 6.00% $7,292
    STOCKTON MORTGAGE CORPORATION 2 6.00% $14,505
    Mr. Cooper ( Nationstar Mortgage ) 2 6.25% $16,043
    FIRST COMMUNITY MORTGAGE, INC. 2 6.06% $6,797
    Shamrock Home Loans, Inc. 1 6.38% $6,497
    SUMMIT FUNDING, INC. 1 7.25% $7,976
    T2 FINANCIAL LLC 1 6.75% $6,425
    TJC Mortgage, Inc. 1 6.25% $9,772
    TOP FLITE FINANCIAL, INC. 1 7.25% $12,309
    UNION HOME MORTGAGE CORP. 1 6.38% $19,746
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.38% $12,086
    1ST SIGNATURE LENDING, LLC 1 6.88% $13,757
    VILLAGE CAPITAL MORTGAGE 1 5.75% $4,976
    ALAMEDA MORTGAGE CORPORATION 1 6.75% $8,709
    AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $1,996
    AMERICAN FINANCING CORPORATION 1 7.25% $8,502
    American National Bank 1 7.25% $6,334
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.75% $11,366
    AmeriHome Mortgage Company, LLC 1 6.63% $6,599
    COMPASS MORTGAGE, INC. 1 7.13% $24,980
    CROSSCOUNTRY MORTGAGE, LLC 1 4.25% $3,342
    EMBRACE HOME LOANS, INC. 1 6.25% $12,505
    EVERETT FINANCIAL, INC. 1 7.13% $8,234
    FREEDOM MORTGAGE CORPORATION 1 5.75% $26,759
    GUARANTY MORTGAGE SERVICES, L.L.C. 1 6.75% $28,563
    Legends Bank 1 4.99% $11,984
    OCEANSIDE MORTGAGE COMPANY 1 6.13% $6,377
    Plains Commerce Bank 1 6.00% $19,526
    PLANET HOME LENDING, LLC 1 6.38% $15,677
    Prosperity Home Mortgage, LLC 1 6.62% $24,683
    Regions Bank 1 6.50% $12,607
    RELIANCE FIRST CAPITAL, LLC 1 6.38% $16,107

    The top Crossville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 21 VA loans originated. Their average total fees are $4,376, which is $1,707 lower than the next largest lender, PENNYMAC LOAN SERVICES, LLC.

    The lowest fee Crossville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,376), PENNYMAC LOAN SERVICES, LLC ($6,083), QUICKEN LOANS, LLC ($11,982), .

    The lowest rate Crossville VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.78%), QUICKEN LOANS, LLC (5.95%), Mortgage Research Center, LLC (6.77%), .

    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.