Evansville VA Loans

EVANSVILLE, IN-KY

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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 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.

    Evansville's 87 lenders originated 892 VA loans during 2021. The total origination value was $177,010,000, with an average VA loan value of $198,442.

    Evansville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Evansville averaged 5.25% for the week of 2022-08-05, compared to the national average (all VA variants) of 5.013% for the same period.

    The average rate for the prior week (2022-07-29) was 5.6% and one month ago for the week of 2022-07-01, the average rate was 5.92%.

    The average rate one year ago was 3.01%.

    For refis of the same type during the week of 2022-08-05, the average rate was 5.2%.

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

    Evansville VA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Evansville level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 109 2.98% $3,823
    MORTGAGE MASTERS OF INDIANA, INC. 87 2.74% $4,031
    FREEDOM MORTGAGE CORPORATION 73 2.63% $2,228
    QUICKEN LOANS, LLC 64 2.57% $4,354
    PENNYMAC LOAN SERVICES, LLC 35 2.61% $4,414
    EVANSVILLE TEACHERS 35 2.74% $4,977
    HOME POINT FINANCIAL CORPORATION 25 2.62% $5,165
    NEW DAY FINANCIAL, LLC 24 2.78% $6,314
    USAA Federal Savings Bank 23 2.88% $3,847
    CALIBER HOME LOANS, INC. 21 2.81% $5,145
    LAKEVIEW LOAN SERVICING, LLC 18 2.75% $1,990
    UNITED WHOLESALE MORTGAGE, LLC 18 2.53% $3,632
    NAVY FEDERAL CREDIT UNION 17 2.38% $5,949
    VILLAGE CAPITAL & INVESTMENT LLC 13 2.52% $1,971
    LOANDEPOT.COM, LLC 12 2.48% $3,381
    Mr. Cooper ( Nationstar Mortgage ) 10 3.21% $2,396
    RUOFF MORTGAGE COMPANY, INC. 10 2.95% $3,673
    FBC MORTGAGE, LLC 9 3.08% $5,305
    CLEARPATH LENDING 9 2.25% $3,611
    Fifth Third Bank 8 2.80% $4,097
    Low VA Rates, LLC 8 2.63% $4,598
    GVC MORTGAGE, INC. 7 3.21% $6,525
    Wells Fargo Bank 6 2.77% $2,174
    The Federal Savings Bank 5 2.45% $5,626
    Barrington Bank & Trust Company, N.A. 5 3.20% $3,683
    Midwest Mortgage Associates Corporation 4 2.78% $4,003
    Carrington Mortgage Services, LLC 4 3.56% $4,837
    Bank of England 4 3.09% $1,806
    PLANET HOME LENDING, LLC 4 2.56% $1,574
    InterContinental Capital Group, Inc 3 2.46% $5,260
    ACCELERATE MORTGAGE, LLC 3 1.92% $6,148
    AMERICAN FINANCIAL NETWORK, INC. 3 2.75% $9,743
    AMERICAN MORTGAGE SERVICE COMPANY 3 3.04% $4,354
    AMERISAVE MORTGAGE CORPORATION 3 2.75% $10,282
    BROKER SOLUTIONS, INC. 3 2.79% $8,392
    Equity Prime Mortgage LLC 3 3.88% $4,196
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 3.04% $3,247
    FAIR WAY LENDING LLC 3 3.17% $2,754
    Magnolia Bank 3 2.46% $4,327
    Mid-Continent Funding, Inc. 3 2.92% $5,887
    MOVEMENT MORTGAGE, LLC 3 2.75% $1,087
    SUN WEST MORTGAGE COMPANY, INC. 3 2.25% $4,278
    MUTUAL OF OMAHA MORTGAGE, INC. 2 3.06% $3,136
    Servion, Inc. 2 2.75% $5,620
    Flagstar Bank, FSB 2 4.00% $11,122
    First Guaranty Mortgage Corporation 2 3.06% $2,994
    CROSSCOUNTRY MORTGAGE, LLC 2 2.88% $6,155
    AMERICAN FINANCING CORPORATION 2 3.00% $4,262
    German American Bank 2 2.94% $7,062
    CHURCHILL MORTGAGE CORPORATION 2 2.69% $8,771
    PLAZA HOME MORTGAGE, INC. 2 2.81% $9,591
    First Federal Bank 2 2.81% $7,600
    NEWREZ LLC 2 2.81% $1,487
    RELIANCE FIRST CAPITAL, LLC 2 3.19% $11,783
    Old National Bank 2 2.50% $3,949
    NBKC BANK 1 2.75% $10,957
    PANORAMA MORTGAGE GROUP, LLC 1 3.63% $11,977
    Paramount Bank 1 2.50% $5,109
    Paramount Residential Mortgage Group, Inc. 1 3.63% $11,796
    PENTAGON FEDERAL CREDIT UNION 1 2.25% $1,152
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.88% $3,367
    CHERRY CREEK MORTGAGE, LLC 1 2.75% $4,972
    Renasant Bank 1 2.63% $19,606
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.75% $5,503
    Sierra Pacific Mortgage Company, Inc. 1 3.75% $3,979
    SOVEREIGN LENDING GROUP INCORPORATED 1 2.25% $24,428
    STEARNS LENDING, LLC 1 3.25% $3,752
    CapStar Bank 1 2.50% $2,669
    TOP FLITE FINANCIAL, INC. 1 2.88% $11,282
    United Fidelity Funding Corp. 1 2.75% $3,369
    GUILD MORTGAGE COMPANY 1 2.63% $2,206
    HALLMARK HOME MORTGAGE, LLC 1 3.25% $3,028
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.25% $2,396
    HOMESIDE FINANCIAL, LLC 1 2.99% $8,367
    GUARANTEED RATE, INC. 1 2.38% $11,823
    1ST SIGNATURE LENDING, LLC 1 3.25% $8,258
    GUARANTEED RATE AFFINITY, LLC 1 2.50% $13,091
    LENDUS, LLC 1 2.25% $3,270
    GENEVA FINANCIAL, LLC 1 2.75% $2,823
    BNC National Bank 1 2.50% $1,769
    Manufacturers and Traders Trust Company 1 2.63% $3,163
    Bank of America 1 3.38% $10,189
    F&M Bank 1 2.63% $6,780
    FIRST STATE MORTGAGE SERVICES, LLC 1 2.13% $8,986
    AmeriHome Mortgage Company, LLC 1 2.88% $3,339
    First Option Mortgage, LLC 1 2.75% $4,325
    MYCUMORTGAGE, LLC 1 2.88% $2,874

    The top Evansville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 109 VA loans originated. Their average total fees are $3,823, which is $208 lower than the next largest lender, MORTGAGE MASTERS OF INDIANA, INC..

    The lowest fee Evansville VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($1,971), LAKEVIEW LOAN SERVICING, LLC ($1,990), FREEDOM MORTGAGE CORPORATION ($2,228), Mr. Cooper ( Nationstar Mortgage ) ($2,396) and LOANDEPOT.COM, LLC ($3,381).

    The lowest rate Evansville VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (2.38%), LOANDEPOT.COM, LLC (2.48%), VILLAGE CAPITAL & INVESTMENT LLC (2.52%), UNITED WHOLESALE MORTGAGE, LLC (2.53%) and QUICKEN LOANS, LLC (2.57%).

    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.