Decatur VA Loan Rates, Closing Costs & Stats
DECATUR, 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.
Decatur's 80 lenders originated 342 VA
loans during 2024. The total origination value was $110,760,000, with an average VA loan value of
$323,860.
Decatur VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Decatur
averaged
0.35%
for the week of 2025-06-20, compared to the national average (all VA variants) of
0% for the same period.
Decatur's average VA mortgage closing costs are $5,704.
The average rate for the prior week (2025-06-13) was
6.99% and
one month ago for the week of 2025-05-16, the
average rate was 6.55%.
The average rate one year ago was 6.65%.
For refis of the same type during the week of 2025-06-20, the average rate
was 0.33%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Decatur 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 Decatur level.
Name |
# of Loans |
2024 Avg. 30yFix Rate |
2024 Avg. Closing Costs |
Mortgage Research Center, LLC
|
59
|
6.58%
|
$4,930
|
UNITED WHOLESALE MORTGAGE, LLC
|
29
|
5.86%
|
$5,918
|
FREEDOM MORTGAGE CORPORATION
|
20
|
6.06%
|
$7,761
|
QUICKEN LOANS, LLC
|
20
|
6.20%
|
$9,719
|
BROKER SOLUTIONS, INC.
|
10
|
6.46%
|
$10,549
|
PENNYMAC LOAN SERVICES, LLC
|
9
|
5.56%
|
$5,796
|
MOVEMENT MORTGAGE, LLC
|
6
|
6.46%
|
$5,052
|
UNION HOME MORTGAGE CORP.
|
6
|
6.19%
|
$8,040
|
STOCKTON MORTGAGE CORPORATION
|
6
|
5.08%
|
$13,561
|
REDSTONE Federal Credit Union
|
6
|
5.98%
|
$9,689
|
Trustmark National Bank
|
5
|
6.18%
|
$4,083
|
USAA Federal Savings Bank
|
5
|
6.23%
|
$6,998
|
NAVY FEDERAL CREDIT UNION
|
5
|
6.03%
|
$5,925
|
VILLAGE CAPITAL MORTGAGE
|
5
|
5.80%
|
$4,932
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
5
|
6.65%
|
$7,206
|
NEW DAY FINANCIAL, LLC
|
5
|
7.69%
|
$10,012
|
DHI MORTGAGE COMPANY, LTD.
|
4
|
5.12%
|
$4,720
|
Equity Prime Mortgage LLC
|
4
|
6.31%
|
$4,671
|
Barrington Bank & Trust Company, N.A.
|
4
|
6.38%
|
$6,180
|
PLANET HOME LENDING, LLC
|
4
|
6.44%
|
$8,788
|
FirstBank
|
3
|
6.13%
|
$4,941
|
ATLANTIC BAY MORTGAGE GROUP, L.L.C.
|
3
|
6.08%
|
$7,368
|
First Federal Bank
|
3
|
5.50%
|
$17,672
|
NEWREZ LLC
|
3
|
6.08%
|
$6,122
|
The Federal Savings Bank
|
3
|
6.63%
|
$12,953
|
LOANDEPOT.COM, LLC
|
3
|
5.41%
|
$8,600
|
LAKEVIEW LOAN SERVICING, LLC
|
3
|
5.66%
|
$4,950
|
Magnolia Bank
|
3
|
5.67%
|
$19,142
|
Carrington Mortgage Services, LLC
|
2
|
5.75%
|
$10,465
|
Assurance Financial Group, L.L.C.
|
2
|
7.13%
|
$7,119
|
CMG MORTGAGE, INC.
|
2
|
6.38%
|
$19,060
|
FIRST COLONY MORTGAGE CORPORATION
|
2
|
6.19%
|
$10,115
|
GMFS LLC
|
2
|
6.50%
|
$8,149
|
Hamilton Mortgage Corporation
|
2
|
6.75%
|
$14,177
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
2
|
7.25%
|
$2,032
|
Mr. Cooper ( Nationstar Mortgage )
|
2
|
6.25%
|
$3,543
|
NBKC BANK
|
2
|
6.00%
|
$2,567
|
PHH Mortgage Corporation
|
2
|
5.75%
|
$6,373
|
South State Bank
|
2
|
6.31%
|
$5,900
|
SUN WEST MORTGAGE COMPANY, INC.
|
2
|
6.75%
|
$3,302
|
Synovus Bank
|
2
|
6.00%
|
$11,018
|
TJC Mortgage, Inc.
|
2
|
6.06%
|
$4,306
|
Wells Fargo Bank
|
2
|
6.00%
|
$12,115
|
United Community Bank
|
1
|
6.50%
|
$5,967
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
1
|
6.25%
|
$23,716
|
GUARANTEED RATE, INC.
|
1
|
6.63%
|
$2,677
|
Bank of England
|
1
|
7.13%
|
$11,606
|
Flagstar Bank, FSB
|
1
|
6.38%
|
$13,649
|
First Federal Bank, A FSB
|
1
|
6.50%
|
$11,510
|
Northpointe Bank
|
1
|
6.63%
|
$3,345
|
EMBRACE HOME LOANS, INC.
|
1
|
5.99%
|
$4,986
|
Atlantic Coast Mortgage, LLC
|
1
|
6.25%
|
$26,704
|
CONTOUR MORTGAGE CORPORATION
|
1
|
6.75%
|
$5,512
|
PNC Bank
|
1
|
5.75%
|
$19,058
|
Prosperity Home Mortgage, LLC
|
1
|
5.75%
|
$15,856
|
Consumer First Mortgage, Inc.
|
1
|
7.25%
|
$7,082
|
Century Mortgage Company DBA Century Lending Company
|
1
|
6.13%
|
$5,160
|
Regions Bank
|
1
|
5.75%
|
$19,594
|
ROYAL UNITED MORTGAGE LLC
|
1
|
6.63%
|
$8,459
|
SouthPoint Bank
|
1
|
5.75%
|
$7,874
|
U.S. Bank
|
1
|
5.63%
|
$328
|
CB&S Bank, Inc.
|
1
|
6.63%
|
$1,668
|
VANDERBILT MORTGAGE AND FINANCE, INC.
|
1
|
6.75%
|
$16,557
|
Victorian Finance, LLC
|
1
|
5.75%
|
$5,493
|
T2 FINANCIAL LLC
|
1
|
7.25%
|
$3,418
|
AmeriHome Mortgage Company, LLC
|
1
|
6.63%
|
$6,922
|
The Loan Store, Inc.
|
1
|
6.13%
|
$1,948
|
AMERISAVE MORTGAGE CORPORATION
|
1
|
4.75%
|
$21,826
|
Total Media Management, LLC
|
1
|
7.13%
|
$0
|
TOWNE MORTGAGE COMPANY
|
1
|
6.75%
|
$4,728
|
CARDINAL FINANCIAL
|
1
|
6.63%
|
$4,094
|
Lakeview Community Capital, LLC
|
1
|
5.25%
|
$4,025
|
JPMorgan Chase Bank
|
1
|
5.00%
|
$4,047
|
HOMESIDE FINANCIAL, LLC
|
1
|
7.13%
|
$19,176
|
HOMEOWNERS FINANCIAL GROUP USA, LLC
|
1
|
7.63%
|
$5,230
|
Mid-Continent Funding, Inc.
|
1
|
6.25%
|
$7,984
|
MORTGAGE ACCESS CORP.
|
1
|
6.13%
|
$3,671
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
1
|
6.75%
|
$45,036
|
CANOPY MORTGAGE, LLC
|
1
|
6.63%
|
$24,109
|
GUILD MORTGAGE COMPANY
|
1
|
5.75%
|
$5,142
|
The top Decatur VA lender as defined by loan originations is Mortgage Research Center, LLC, with
59 VA loans originated. Their average total fees are
$4,930, which is $988
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Decatur VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC ($4,930), UNITED WHOLESALE MORTGAGE, LLC ($5,918), FREEDOM MORTGAGE CORPORATION ($7,761), QUICKEN LOANS, LLC ($9,719) and BROKER SOLUTIONS, INC. ($10,549).
The lowest rate Decatur VA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (5.86%), FREEDOM MORTGAGE CORPORATION (6.06%), QUICKEN LOANS, LLC (6.20%), BROKER SOLUTIONS, INC. (6.46%) and Mortgage Research Center, LLC (6.58%).
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.