Evansville VA Loans
EVANSVILLE, IN-KY
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.