Dover VA Loan Rates, Closing Costs & Stats
DOVER, DE
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.
Dover's 80 lenders originated 614 VA
loans during 2023. The total origination value was $213,480,000, with an average VA loan value of
$347,687.
Dover VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Dover
averaged
6.25%
for the week of 2024-10-25, compared to the national average (all VA variants) of
6.14% for the same period.
Dover's average VA mortgage closing costs are $7,249.
The average rate for the prior week (2024-10-18) was
6.06% and
one month ago for the week of 2024-09-20, the
average rate was 5.36%.
The average rate one year ago was 7.58%.
For refis of the same type during the week of 2024-10-25, the average rate
was 6.91%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Dover 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 Dover level.
Name |
# of Loans |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
DHI MORTGAGE COMPANY, LTD.
|
56
|
5.37%
|
$11,412
|
Mortgage Research Center, LLC
|
54
|
6.75%
|
$9,187
|
NFM, INC.
|
46
|
6.39%
|
$12,990
|
QUICKEN LOANS, LLC
|
24
|
6.42%
|
$12,298
|
NAVY FEDERAL CREDIT UNION
|
21
|
5.68%
|
$8,671
|
PIKE CREEK MORTGAGE SERVICES, INC.
|
20
|
6.65%
|
$14,380
|
CMG MORTGAGE, INC.
|
19
|
6.21%
|
$14,300
|
Keystone Funding, Inc.
|
17
|
6.40%
|
$12,882
|
FREEDOM MORTGAGE CORPORATION
|
16
|
6.56%
|
$17,717
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
15
|
6.58%
|
$10,670
|
MOVEMENT MORTGAGE, LLC
|
14
|
6.27%
|
$11,815
|
UNITED WHOLESALE MORTGAGE, LLC
|
13
|
6.46%
|
$9,689
|
NVR Mortgage Finance, Inc.
|
13
|
5.86%
|
$3,826
|
NEWREZ LLC
|
12
|
6.41%
|
$14,634
|
Ixonia Bank
|
12
|
6.52%
|
$10,078
|
The Federal Savings Bank
|
12
|
6.31%
|
$17,956
|
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C.
|
12
|
6.63%
|
$10,572
|
Equity Prime Mortgage LLC
|
12
|
6.05%
|
$16,623
|
Meridian Bank Corporation
|
10
|
6.85%
|
$14,825
|
PENTAGON FEDERAL CREDIT UNION
|
10
|
5.36%
|
$10,539
|
PENNYMAC LOAN SERVICES, LLC
|
9
|
5.78%
|
$14,389
|
NEW DAY FINANCIAL, LLC
|
9
|
7.36%
|
$14,667
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
9
|
6.74%
|
$12,194
|
CROSSCOUNTRY MORTGAGE, LLC
|
9
|
7.36%
|
$9,382
|
LOANDEPOT.COM, LLC
|
8
|
5.98%
|
$13,472
|
Prosperity Home Mortgage, LLC
|
8
|
6.36%
|
$7,951
|
USAA Federal Savings Bank
|
8
|
6.14%
|
$14,185
|
NBKC BANK
|
8
|
5.75%
|
$10,103
|
GUILD MORTGAGE COMPANY
|
8
|
6.27%
|
$12,440
|
EAGLE HOME MORTGAGE, LLC
|
6
|
6.21%
|
$9,621
|
CARDINAL FINANCIAL
|
6
|
6.92%
|
$17,458
|
TIDEWATER MORTGAGE SERVICES, INC.
|
5
|
5.95%
|
$10,658
|
Plains Commerce Bank
|
5
|
5.95%
|
$12,355
|
Northpointe Bank
|
4
|
6.38%
|
$3,923
|
EMM LOANS LLC
|
4
|
5.75%
|
$15,308
|
Nations Lending Corporation
|
4
|
6.31%
|
$9,882
|
BROKER SOLUTIONS, INC.
|
3
|
6.79%
|
$6,069
|
CALIBER HOME LOANS, INC.
|
3
|
6.17%
|
$11,458
|
HOMESIDE FINANCIAL, LLC
|
3
|
6.00%
|
$7,332
|
Magnolia Bank
|
3
|
6.50%
|
$14,787
|
Truist
|
3
|
6.19%
|
$4,069
|
VILLAGE CAPITAL MORTGAGE
|
3
|
6.42%
|
$7,899
|
FIRST HOME MORTGAGE CORPORATION
|
2
|
6.38%
|
$15,661
|
PLAZA HOME MORTGAGE, INC.
|
2
|
6.75%
|
$21,988
|
Mr. Cooper ( Nationstar Mortgage )
|
2
|
5.88%
|
$16,205
|
Barrington Bank & Trust Company, N.A.
|
2
|
7.25%
|
$10,662
|
AMERISAVE MORTGAGE CORPORATION
|
2
|
5.88%
|
$19,311
|
GUARANTEED RATE AFFINITY, LLC
|
2
|
7.31%
|
$14,457
|
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC
|
2
|
7.06%
|
$15,415
|
Armed Forces Bank
|
2
|
5.75%
|
$7,702
|
LAKEVIEW LOAN SERVICING, LLC
|
2
|
5.50%
|
$19,118
|
DRAPER AND KRAMER MORTGAGE CORP.
|
2
|
6.88%
|
$11,357
|
Wells Fargo Bank
|
2
|
5.44%
|
$5,012
|
NORWICH COMMERCIAL GROUP, INC.
|
1
|
7.13%
|
$6,720
|
Paramount Residential Mortgage Group, Inc.
|
1
|
6.63%
|
$8,582
|
CONTOUR MORTGAGE CORPORATION
|
1
|
5.75%
|
$15,857
|
ALLIED MORTGAGE GROUP, INC.
|
1
|
6.13%
|
$10,259
|
MDE Home Loans, LLC
|
1
|
8.00%
|
$2,245
|
BAY EQUITY LLC
|
1
|
6.75%
|
$8,405
|
Presidential Bank, FSB
|
1
|
5.63%
|
$12,036
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
1
|
6.25%
|
$600
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
1
|
7.13%
|
$11,994
|
Residential Mortgage Solutions, Inc.
|
1
|
6.75%
|
$9,670
|
Sandy Spring Bank
|
1
|
6.50%
|
$27,968
|
SUN WEST MORTGAGE COMPANY, INC.
|
1
|
5.75%
|
$3,544
|
Ameris Bank
|
1
|
7.13%
|
$18,179
|
Waterstone Mortgage Corporation
|
1
|
6.13%
|
$13,715
|
AMERICAN FINANCIAL NETWORK, INC.
|
1
|
6.75%
|
$4,440
|
HOMESTEAD FUNDING CORP.
|
1
|
7.00%
|
$5,919
|
BAYSHORE MORTGAGE FUNDING, LLC
|
1
|
7.00%
|
$12,628
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
1
|
6.38%
|
$15,215
|
GUARANTEED RATE, INC.
|
1
|
7.25%
|
$8,077
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
1
|
7.75%
|
$132
|
NATION ONE MORTGAGE CORPORATION
|
1
|
8.25%
|
$13,446
|
GSF Mortgage Corporation
|
1
|
7.13%
|
$18,062
|
Flagstar Bank, FSB
|
1
|
6.88%
|
$4,674
|
First Federal Bank
|
1
|
5.88%
|
$4,973
|
Evolve Bank & Trust
|
1
|
8.25%
|
$6,813
|
EVERETT FINANCIAL, INC.
|
1
|
6.38%
|
$7,799
|
EMBRACE HOME LOANS, INC.
|
1
|
5.75%
|
$9,230
|
The top Dover VA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with
56 VA loans originated. Their average total fees are
$11,412, which is $2,225
higher than the next largest lender,
Mortgage Research Center, LLC.
The lowest fee Dover VA lenders (with over 10 loans originated) are
NVR Mortgage Finance, Inc. ($3,826), NAVY FEDERAL CREDIT UNION ($8,671), Mortgage Research Center, LLC ($9,187), UNITED WHOLESALE MORTGAGE, LLC ($9,689) and Ixonia Bank ($10,078).
The lowest rate Dover VA lenders (with over 10 loans originated) are
PENTAGON FEDERAL CREDIT UNION (5.36%), DHI MORTGAGE COMPANY, LTD. (5.37%), NAVY FEDERAL CREDIT UNION (5.68%), NVR Mortgage Finance, Inc. (5.86%) and Equity Prime Mortgage LLC (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.