Daphne VA Loan Rates, Closing Costs & Stats
DAPHNE-FAIRHOPE-FOLEY, AL
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.
Daphne's 101 lenders originated 716 VA
loans during 2023. The total origination value was $246,810,000, with an average VA loan value of
$344,707.
Daphne VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Daphne
averaged
6.44%
for the week of 2024-07-19, compared to the national average (all VA variants) of
6.303% for the same period.
Daphne's average VA mortgage closing costs are $5,846.
The average rate for the prior week (2024-07-12) was
6.48% and
one month ago for the week of 2024-06-14, the
average rate was 6.35%.
The average rate one year ago was 6.63%.
For refis of the same type during the week of 2024-07-19, the average rate
was 6.29%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Daphne 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 Daphne level.
Name |
# of Loans |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
DHI MORTGAGE COMPANY, LTD.
|
149
|
5.12%
|
$5,127
|
Mortgage Research Center, LLC
|
76
|
6.61%
|
$6,214
|
UNITED WHOLESALE MORTGAGE, LLC
|
38
|
6.29%
|
$7,373
|
NAVY FEDERAL CREDIT UNION
|
34
|
5.81%
|
$5,782
|
EAGLE HOME MORTGAGE, LLC
|
32
|
5.14%
|
$3,658
|
QUICKEN LOANS, LLC
|
24
|
6.15%
|
$12,929
|
PENNYMAC LOAN SERVICES, LLC
|
19
|
5.37%
|
$8,512
|
USAA Federal Savings Bank
|
19
|
6.05%
|
$6,677
|
Plains Commerce Bank
|
14
|
6.08%
|
$8,854
|
Trustmark National Bank
|
12
|
6.31%
|
$7,527
|
FREEDOM MORTGAGE CORPORATION
|
12
|
6.31%
|
$13,968
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
11
|
6.18%
|
$8,189
|
FirstBank
|
11
|
6.19%
|
$8,143
|
NEW DAY FINANCIAL, LLC
|
11
|
7.01%
|
$11,568
|
SWBC MORTGAGE CORPORATION
|
9
|
6.51%
|
$11,672
|
Prosperity Home Mortgage, LLC
|
9
|
6.00%
|
$7,999
|
GMFS LLC
|
9
|
6.07%
|
$7,038
|
DSLD MORTGAGE, LLC
|
8
|
6.11%
|
$5,606
|
The Federal Savings Bank
|
8
|
6.28%
|
$16,518
|
Regions Bank
|
7
|
6.21%
|
$6,565
|
HOMETRUST MORTGAGE COMPANY
|
6
|
6.02%
|
$4,290
|
Magnolia Bank
|
6
|
6.45%
|
$11,578
|
MOVEMENT MORTGAGE, LLC
|
6
|
6.46%
|
$7,493
|
LOANDEPOT.COM, LLC
|
5
|
5.97%
|
$8,993
|
CROSSCOUNTRY MORTGAGE, LLC
|
5
|
6.56%
|
$8,418
|
VILLAGE CAPITAL MORTGAGE
|
5
|
6.05%
|
$14,965
|
Renasant Bank
|
4
|
6.06%
|
$4,751
|
EMBRACE HOME LOANS, INC.
|
4
|
6.34%
|
$10,484
|
Flagstar Bank, FSB
|
4
|
6.63%
|
$46,433
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
4
|
6.88%
|
$8,467
|
Barrington Bank & Trust Company, N.A.
|
4
|
6.00%
|
$4,051
|
AMERISAVE MORTGAGE CORPORATION
|
3
|
5.67%
|
$15,878
|
COMMUNITY MORTGAGE, LLC
|
3
|
6.67%
|
$2,612
|
Princeton Mortgage Corporation
|
3
|
6.88%
|
$5,318
|
CARDINAL FINANCIAL
|
3
|
6.54%
|
$9,008
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
3
|
7.58%
|
$11,651
|
Equity Prime Mortgage LLC
|
3
|
7.17%
|
$11,298
|
PENTAGON FEDERAL CREDIT UNION
|
3
|
5.50%
|
$10,812
|
Nations Lending Corporation
|
3
|
6.58%
|
$4,903
|
First Federal Bank, A FSB
|
3
|
5.50%
|
$10,182
|
NEWREZ LLC
|
3
|
7.16%
|
$11,759
|
NBKC BANK
|
3
|
6.38%
|
$3,610
|
GUARANTEED RATE, INC.
|
3
|
6.67%
|
$4,813
|
Wells Fargo Bank
|
2
|
6.31%
|
$6,713
|
AMERICAN FINANCIAL NETWORK, INC.
|
2
|
6.69%
|
$3,598
|
BankPlus
|
2
|
6.00%
|
$6,930
|
BROKER SOLUTIONS, INC.
|
2
|
6.81%
|
$11,481
|
Centennial Bank
|
2
|
6.44%
|
$12,337
|
DRAPER AND KRAMER MORTGAGE CORP.
|
2
|
6.25%
|
$8,204
|
FBC MORTGAGE, LLC
|
2
|
4.75%
|
$1,755
|
First Horizon Bank
|
2
|
5.88%
|
$5,479
|
FirstTrust Home Loans, Inc.
|
2
|
7.13%
|
$6,569
|
GUARANTEED RATE AFFINITY, LLC
|
2
|
6.75%
|
$5,231
|
GUILD MORTGAGE COMPANY
|
2
|
6.13%
|
$7,839
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
2
|
7.06%
|
$7,782
|
Mr. Cooper ( Nationstar Mortgage )
|
2
|
5.75%
|
$13,881
|
NFM, INC.
|
2
|
7.06%
|
$11,721
|
PACIFIC RESIDENTIAL MORTGAGE, LLC
|
2
|
6.38%
|
$11,459
|
Paramount Residential Mortgage Group, Inc.
|
2
|
6.62%
|
$11,693
|
STOCKTON MORTGAGE CORPORATION
|
2
|
0.00%
|
$13,066
|
LEADERONE FINANCIAL CORPORATION
|
1
|
7.13%
|
$14,938
|
LAKEVIEW LOAN SERVICING, LLC
|
1
|
6.25%
|
$15,758
|
JPMorgan Chase Bank
|
1
|
5.00%
|
$10,802
|
Ixonia Bank
|
1
|
6.63%
|
$7,169
|
INSPIRE HOME LOANS INC.
|
1
|
4.88%
|
$8,338
|
First Savings Bank
|
1
|
7.25%
|
$8,931
|
Assurance Financial Group, L.L.C.
|
1
|
7.75%
|
$3,080
|
Northpointe Bank
|
1
|
7.13%
|
$6,876
|
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC
|
1
|
6.25%
|
$640
|
American Mortgage & Equity Consultants, Inc.
|
1
|
7.00%
|
$6,981
|
First Federal Bank
|
1
|
5.75%
|
$9,878
|
FIDELITY BANK
|
1
|
5.75%
|
$9,165
|
DAS Acquisition Company, LLC
|
1
|
5.75%
|
$15,169
|
PLANET HOME LENDING, LLC
|
1
|
6.38%
|
$5,705
|
PLAZA HOME MORTGAGE, INC.
|
1
|
6.50%
|
$6,836
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
1
|
5.75%
|
$7,417
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
1
|
6.75%
|
$19,670
|
CORNERSTONE HOME LENDING, INC.
|
1
|
6.25%
|
$2,170
|
Community Bank of Mississippi
|
1
|
5.63%
|
$10,665
|
Citizens Bank
|
1
|
5.75%
|
$3,630
|
RAPID MORTGAGE COMPANY
|
1
|
6.63%
|
$10,345
|
Century Mortgage Company DBA Century Lending Company
|
1
|
4.75%
|
$12,547
|
CANOPY MORTGAGE, LLC
|
1
|
6.99%
|
$11,180
|
S1L, Inc.
|
1
|
5.75%
|
$4,102
|
ServisFirst Bank
|
1
|
6.25%
|
$3,400
|
SIRVA MORTGAGE, INC.
|
1
|
7.13%
|
$1,225
|
SOUTHWEST STAGE FUNDING, LLC
|
1
|
7.38%
|
$9,684
|
ACADEMY MORTGAGE CORPORATION
|
1
|
7.75%
|
$8,774
|
BECKAM FUNDING CORP.
|
1
|
6.75%
|
$24,347
|
Texana Bank
|
1
|
6.13%
|
$13,267
|
Bank of England
|
1
|
6.75%
|
$5,659
|
The Loan Store, Inc.
|
1
|
6.75%
|
$4,233
|
THE MORTGAGE FIRM, INC.
|
1
|
5.63%
|
$9,993
|
Truist
|
1
|
6.75%
|
$3,652
|
ATLANTIC BAY MORTGAGE GROUP, L.L.C.
|
1
|
7.75%
|
$18,191
|
Tyndall Federal Credit Union
|
1
|
6.50%
|
$5,556
|
MORIA DEVELOPMENT, INC.
|
1
|
6.75%
|
$9,589
|
MILEND, INC.
|
1
|
6.75%
|
$15,157
|
Mid-Continent Funding, Inc.
|
1
|
6.75%
|
$13,063
|
Merchants & Marine Bank
|
1
|
6.13%
|
$1,865
|
UNION HOME MORTGAGE CORP.
|
1
|
6.13%
|
$13,250
|
The top Daphne VA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with
149 VA loans originated. Their average total fees are
$5,127, which is $1,087
lower than the next largest lender,
Mortgage Research Center, LLC.
The lowest fee Daphne VA lenders (with over 10 loans originated) are
EAGLE HOME MORTGAGE, LLC ($3,658), DHI MORTGAGE COMPANY, LTD. ($5,127), NAVY FEDERAL CREDIT UNION ($5,782), Mortgage Research Center, LLC ($6,214) and USAA Federal Savings Bank ($6,677).
The lowest rate Daphne VA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.12%), EAGLE HOME MORTGAGE, LLC (5.14%), PENNYMAC LOAN SERVICES, LLC (5.37%), NAVY FEDERAL CREDIT UNION (5.81%) and USAA Federal Savings Bank (6.05%).
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.