Fairbanks VA Loan Rates, Closing Costs & Stats

FAIRBANKS, AK

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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.

    Fairbanks's 41 lenders originated 540 VA loans during 2024. The total origination value was $183,670,000, with an average VA loan value of $340,130.

    Fairbanks VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Fairbanks averaged 0.17% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Fairbanks's average VA mortgage closing costs are $7,527.

    The average rate for the prior week (2025-06-13) was 6.81% and one month ago for the week of 2025-05-16, the average rate was 6.47%.

    The average rate one year ago was 6.47%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.33%.

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

    Fairbanks 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 Fairbanks level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    NEWREZ LLC 112 6.47% $10,174
    Mortgage Research Center, LLC 97 6.47% $7,621
    PENNYMAC LOAN SERVICES, LLC 26 5.56% $6,826
    UNITED WHOLESALE MORTGAGE, LLC 19 5.85% $7,328
    CROSSCOUNTRY MORTGAGE, LLC 17 6.08% $8,265
    Alaska USA Federal Credit Union 17 6.10% $5,883
    CORNERSTONE HOME LENDING, INC. 14 6.24% $8,400
    RESIDENTIAL MORTGAGE, LLC 14 6.15% $11,164
    USAA Federal Savings Bank 14 6.36% $9,645
    The Loan Store, Inc. 14 6.11% $9,926
    GUILD MORTGAGE COMPANY 13 5.24% $8,351
    NAVY FEDERAL CREDIT UNION 9 5.71% $7,998
    QUICKEN LOANS, LLC 8 6.12% $9,710
    FREEDOM MORTGAGE CORPORATION 7 6.07% $8,823
    LAKEVIEW LOAN SERVICING, LLC 7 5.96% $6,512
    AmeriHome Mortgage Company, LLC 6 6.33% $4,118
    VILLAGE CAPITAL MORTGAGE 6 6.04% $6,793
    MOVEMENT MORTGAGE, LLC 6 5.90% $9,162
    NBKC BANK 4 5.72% $6,935
    PLAZA HOME MORTGAGE, INC. 4 6.12% $6,653
    GUARANTEED RATE, INC. 4 5.99% $6,394
    Armed Forces Bank 4 6.53% $7,003
    NEW DAY FINANCIAL, LLC 4 7.74% $13,118
    The Federal Savings Bank 2 6.19% $18,218
    AMERICAN FINANCING CORPORATION 2 6.25% $9,641
    Barrington Bank & Trust Company, N.A. 2 5.60% $6,246
    LOANDEPOT.COM, LLC 2 6.31% $7,873
    Plains Commerce Bank 2 6.25% $4,620
    PENTAGON FEDERAL CREDIT UNION 1 6.13% $39
    BOKF 1 6.63% $6,024
    PLANET HOME LENDING, LLC 1 6.13% $3,787
    NP, Inc. 1 7.00% $10,797
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $19,340
    Mr. Cooper ( Nationstar Mortgage ) 1 4.50% $2,046
    SUN WEST MORTGAGE COMPANY, INC. 1 7.38% $13,624
    First Federal Bank 1 5.75% $17,098
    CMG MORTGAGE, INC. 1 6.38% $14,852
    CANOPY MORTGAGE, LLC 1 5.50% $7,070
    BROKER SOLUTIONS, INC. 1 6.49% $7,231
    U.S. Bank 1 6.63% $17,084
    NuVision Federal Credit Union 1 5.50% $12,074

    The top Fairbanks VA lender as defined by loan originations is NEWREZ LLC, with 112 VA loans originated. Their average total fees are $10,174, which is $2,554 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Fairbanks VA lenders (with over 10 loans originated) are Alaska USA Federal Credit Union ($5,883), PENNYMAC LOAN SERVICES, LLC ($6,826), UNITED WHOLESALE MORTGAGE, LLC ($7,328), Mortgage Research Center, LLC ($7,621) and CROSSCOUNTRY MORTGAGE, LLC ($8,265).

    The lowest rate Fairbanks VA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (5.24%), PENNYMAC LOAN SERVICES, LLC (5.56%), UNITED WHOLESALE MORTGAGE, LLC (5.85%), CROSSCOUNTRY MORTGAGE, LLC (6.08%) and Alaska USA Federal Credit Union (6.10%).

    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.