Davenport VA Loan Rates, Closing Costs & Stats

DAVENPORT-MOLINE-ROCK ISLAND, IA-IL

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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.

    Davenport's 63 lenders originated 528 VA loans during 2024. The total origination value was $141,360,000, with an average VA loan value of $267,727.

    Davenport VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Davenport averaged 0.52% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Davenport's average VA mortgage closing costs are $5,108.

    The average rate for the prior week (2025-06-13) was 6.97% and one month ago for the week of 2025-05-16, the average rate was 6.53%.

    The average rate one year ago was 6.82%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0%.

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

    Davenport 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 Davenport level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 105 6.35% $4,890
    BROKER SOLUTIONS, INC. 47 6.38% $8,730
    NEWREZ LLC 31 6.14% $4,780
    UNITED WHOLESALE MORTGAGE, LLC 27 5.78% $5,751
    RUHL MORTGAGE, LLC 25 6.11% $4,794
    QUICKEN LOANS, LLC 24 6.27% $7,719
    GREENSTATE CREDIT UNION 19 5.73% $3,196
    FREEDOM MORTGAGE CORPORATION 17 6.34% $9,617
    USAA Federal Savings Bank 15 6.18% $5,437
    PENNYMAC LOAN SERVICES, LLC 15 5.76% $4,625
    HOMESIDE FINANCIAL, LLC 15 6.82% $7,747
    NEW DAY FINANCIAL, LLC 12 7.39% $7,962
    Flanagan State Bank 12 6.46% $4,988
    NAVY FEDERAL CREDIT UNION 10 5.84% $5,805
    American Bank and Trust Company 9 6.15% $6,276
    PLAZA HOME MORTGAGE, INC. 9 6.57% $4,861
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.50% $7,173
    CROSSCOUNTRY MORTGAGE, LLC 7 6.45% $4,255
    Barrington Bank & Trust Company, N.A. 6 6.00% $6,826
    VILLAGE CAPITAL MORTGAGE 6 5.73% $4,984
    LOANDEPOT.COM, LLC 5 6.85% $5,839
    CALCON MUTUAL MORTGAGE LLC 5 6.83% $4,777
    MOVEMENT MORTGAGE, LLC 5 6.45% $3,753
    The Federal Savings Bank 4 6.59% $18,642
    AXIA FINANCIAL, LLC 4 7.22% $5,684
    First Federal Bank 4 6.47% $3,390
    GUARANTEED RATE, INC. 4 6.39% $3,624
    U.S. Bank 4 6.53% $13,435
    AMERISAVE MORTGAGE CORPORATION 3 5.67% $21,665
    SUCCESS MORTGAGE PARTNERS, INC. 3 5.92% $8,846
    Plains Commerce Bank 3 6.79% $4,776
    PLANET HOME LENDING, LLC 3 4.71% $4,848
    GERSHMAN INVESTMENT CORP. 2 6.25% $2,543
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 8.00% $5,716
    Equity Prime Mortgage LLC 2 7.13% $6,081
    Flagstar Bank, FSB 2 6.37% $3,938
    Mr. Cooper ( Nationstar Mortgage ) 2 6.25% $5,907
    ZILLOW HOME LOANS, LLC 2 6.44% $7,011
    MORTGAGEONE, INC. 2 6.31% $15,080
    MICHIGAN MUTUAL, INC. 2 6.50% $6,953
    NATIONWIDE MORTGAGE BANKERS, INC. 2 6.37% $14,244
    GUARANTEED RATE AFFINITY, LLC 2 6.18% $3,213
    JPMorgan Chase Bank 2 6.62% $4,197
    TruHome Solutions, LLC 1 6.50% $2,946
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 5.63% $8,805
    VERITAS FUNDING, LLC 1 6.25% $13,543
    American Mortgage & Equity Consultants, Inc. 1 6.13% $14,648
    LAKEVIEW LOAN SERVICING, LLC 1 5.63% $3,135
    LEADERONE FINANCIAL CORPORATION 1 7.38% $14,950
    Magnolia Bank 1 6.13% $16,066
    IOWA BANKERS MORTGAGE CORPORATION 1 5.75% $3,103
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $8,819
    NBKC BANK 1 6.38% $14,446
    FLAT BRANCH MORTGAGE, INC. 1 6.13% $7,965
    Old National Bank 1 7.25% $6,977
    PENTAGON FEDERAL CREDIT UNION 1 6.25% $4,088
    PHH Mortgage Corporation 1 5.99% $5,451
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $1,091
    Prosperity Home Mortgage, LLC 1 6.63% $8,697
    Encompass Lending Group, LP 1 6.25% $7,144
    RESIDENTIAL MORTGAGE NETWORK, INC. 1 6.50% $8,562
    CMG MORTGAGE, INC. 1 6.13% $7,331
    Carrington Mortgage Services, LLC 1 5.63% $17,896

    The top Davenport VA lender as defined by loan originations is Mortgage Research Center, LLC, with 105 VA loans originated. Their average total fees are $4,890, which is $3,840 lower than the next largest lender, BROKER SOLUTIONS, INC..

    The lowest fee Davenport VA lenders (with over 10 loans originated) are GREENSTATE CREDIT UNION ($3,196), PENNYMAC LOAN SERVICES, LLC ($4,625), NEWREZ LLC ($4,780), RUHL MORTGAGE, LLC ($4,794) and Mortgage Research Center, LLC ($4,890).

    The lowest rate Davenport VA lenders (with over 10 loans originated) are GREENSTATE CREDIT UNION (5.73%), PENNYMAC LOAN SERVICES, LLC (5.76%), UNITED WHOLESALE MORTGAGE, LLC (5.78%), NAVY FEDERAL CREDIT UNION (5.84%) and RUHL MORTGAGE, LLC (6.11%).

    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.