Evansville VA Loan Rates, Closing Costs & Stats

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 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.

    Evansville's 66 lenders originated 402 VA loans during 2024. The total origination value was $100,240,000, with an average VA loan value of $249,353.

    Evansville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Evansville averaged 6.91% for the week of 2025-07-11, compared to the national average (all VA variants) of 6.37% for the same period.

    Evansville's average VA mortgage closing costs are $4,568.

    The average rate for the prior week (2025-07-04) was 6.62% and one month ago for the week of 2025-06-06, the average rate was 6.99%.

    The average rate one year ago was 6.91%.

    For refis of the same type during the week of 2025-07-11, the average rate was 6.92%.

    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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Evansville level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 102 6.50% $3,583
    MORTGAGE MASTERS OF INDIANA, INC. 40 6.55% $5,151
    UNITED WHOLESALE MORTGAGE, LLC 38 6.05% $5,482
    FREEDOM MORTGAGE CORPORATION 24 6.20% $5,949
    QUICKEN LOANS, LLC 18 6.35% $7,876
    EVANSVILLE TEACHERS 13 6.76% $7,431
    PENNYMAC LOAN SERVICES, LLC 11 5.73% $9,766
    VILLAGE CAPITAL MORTGAGE 11 5.64% $3,892
    NEW DAY FINANCIAL, LLC 8 7.38% $11,506
    FBC MORTGAGE, LLC 8 5.32% $5,465
    Fifth Third Bank 7 6.41% $2,693
    MORTGAGE SOLUTIONS OF COLORADO, LLC 7 7.45% $5,479
    Equity Prime Mortgage LLC 6 6.71% $4,828
    American Mortgage & Equity Consultants, Inc. 6 6.94% $4,036
    The Federal Savings Bank 6 6.21% $11,944
    USAA Federal Savings Bank 6 6.31% $5,985
    NEWREZ LLC 5 6.36% $4,156
    PLAZA HOME MORTGAGE, INC. 4 6.53% $6,474
    Carrington Mortgage Services, LLC 4 5.88% $9,104
    MOVEMENT MORTGAGE, LLC 3 7.50% $4,709
    PLANET HOME LENDING, LLC 3 5.83% $3,251
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.92% $4,422
    NAVY FEDERAL CREDIT UNION 3 5.88% $2,668
    LOANDEPOT.COM, LLC 3 6.16% $7,425
    SUN WEST MORTGAGE COMPANY, INC. 2 5.62% $3,799
    LOANFLIGHT LENDING, LLC 2 6.37% $4,069
    Nations Lending Corporation 2 6.88% $5,295
    Plains Commerce Bank 2 6.69% $8,613
    Barrington Bank & Trust Company, N.A. 2 6.25% $8,506
    First Federal Bank 2 6.25% $6,870
    AmeriHome Mortgage Company, LLC 2 5.81% $3,438
    GUARANTEED RATE, INC. 2 6.69% $807
    RUOFF MORTGAGE COMPANY, INC. 2 6.63% $7,098
    Servion, Inc. 2 6.69% $11,103
    LAKEVIEW LOAN SERVICING, LLC 2 6.25% $7,376
    Paramount Residential Mortgage Group, Inc. 1 6.99% $2,909
    CLEARPATH LENDING 1 6.00% $2,529
    PHH Mortgage Corporation 1 4.99% $5,011
    AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $13,976
    Prosperity Home Mortgage, LLC 1 5.62% $11,504
    CHURCHILL MORTGAGE CORPORATION 1 7.13% $4,189
    SOUTH CENTRAL BANK, INC. 1 5.75% $2,858
    SUMMIT FUNDING, INC. 1 6.75% $3,117
    T2 FINANCIAL LLC 1 7.13% $11,798
    CALCON MUTUAL MORTGAGE LLC 1 6.63% $14,778
    TJC Mortgage, Inc. 1 5.75% $5,687
    First Financial Bank 1 6.75% $0
    UNION HOME MORTGAGE CORP. 1 7.13% $4,881
    BROKER SOLUTIONS, INC. 1 6.75% $16,890
    U.S. Bank 1 5.75% $4,622
    TOP FLITE FINANCIAL, INC. 1 6.75% $9,866
    German American Bank 1 6.25% $2,915
    GUILD MORTGAGE COMPANY 1 7.63% $11,616
    HOMESIDE FINANCIAL, LLC 1 7.25% $7,741
    INTERLINC MORTGAGE SERVICES, LLC 1 7.00% $6,917
    JPMorgan Chase Bank 1 5.00% $364
    LOANPAL, LLC 1 5.75% $15,321
    MICHIGAN MUTUAL, INC. 1 6.63% $6,595
    FIRST COMMUNITY MORTGAGE, INC. 1 5.75% $16,664
    ENVOY MORTGAGE, LTD 1 6.25% $1,919
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $5,388
    NBKC BANK 1 6.13% $1,143
    NETWORK CAPITAL FUNDING CORPORATION 1 6.38% $1,635
    Credence Funding Corporation 1 5.75% $6,656
    CMG MORTGAGE, INC. 1 6.50% $3,060
    Old National Bank 1 5.88% $3,061

    The top Evansville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 102 VA loans originated. Their average total fees are $3,583, which is $1,568 lower than the next largest lender, MORTGAGE MASTERS OF INDIANA, INC..

    The lowest fee Evansville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,583), VILLAGE CAPITAL MORTGAGE ($3,892), MORTGAGE MASTERS OF INDIANA, INC. ($5,151), UNITED WHOLESALE MORTGAGE, LLC ($5,482) and FREEDOM MORTGAGE CORPORATION ($5,949).

    The lowest rate Evansville VA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (5.64%), PENNYMAC LOAN SERVICES, LLC (5.73%), UNITED WHOLESALE MORTGAGE, LLC (6.05%), FREEDOM MORTGAGE CORPORATION (6.20%) and QUICKEN LOANS, LLC (6.35%).

    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.