Decatur VA Loan Rates, Closing Costs & Stats

DECATUR, AL

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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.

    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.