Dover VA Loan Rates, Closing Costs & Stats

DOVER, DE

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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.

    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 6.61% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Dover's average VA mortgage closing costs are $7,249.

    The average rate for the prior week (2024-07-12) was 6.65% and one month ago for the week of 2024-06-14, the average rate was 6.41%.

    The average rate one year ago was 6.59%.

    For refis of the same type during the week of 2024-07-19, the average rate was 7.17%.

    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.