Fayetteville VA Loan Rates, Closing Costs & Stats

FAYETTEVILLE-SPRINGDALE-ROGERS, AR

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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.

    Fayetteville's 98 lenders originated 768 VA loans during 2023. The total origination value was $263,200,000, with an average VA loan value of $342,708.

    Fayetteville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Fayetteville averaged 6.34% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Fayetteville's average VA mortgage closing costs are $5,715.

    The average rate for the prior week (2024-11-01) was 6.4% and one month ago for the week of 2024-10-04, the average rate was 5.53%.

    The average rate one year ago was 7.48%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.3%.

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

    Fayetteville 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 Fayetteville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 125 6.60% $7,754
    QUICKEN LOANS, LLC 49 6.21% $11,817
    Arvest Bank 49 6.35% $6,339
    FLAT BRANCH MORTGAGE, INC. 46 6.37% $8,159
    NAVY FEDERAL CREDIT UNION 43 5.87% $3,998
    USAA Federal Savings Bank 30 6.38% $9,177
    Priority Bank 29 6.14% $8,461
    UNITED WHOLESALE MORTGAGE, LLC 21 6.57% $9,216
    FREEDOM MORTGAGE CORPORATION 17 6.50% $16,711
    GERSHMAN INVESTMENT CORP. 17 5.90% $5,690
    The Federal Savings Bank 15 6.21% $14,402
    DHI MORTGAGE COMPANY, LTD. 14 5.97% $5,377
    Gateway First Bank 13 6.70% $9,936
    Centennial Bank 13 6.31% $8,394
    Plains Commerce Bank 11 6.33% $9,257
    PENTAGON FEDERAL CREDIT UNION 11 5.63% $6,282
    PENNYMAC LOAN SERVICES, LLC 10 5.46% $7,243
    BROKER SOLUTIONS, INC. 9 6.67% $6,039
    CORNERSTONE HOME LENDING, INC. 9 6.67% $3,756
    LOANDEPOT.COM, LLC 9 6.36% $11,877
    First Federal Bank 8 6.30% $12,039
    NEW DAY FINANCIAL, LLC 8 7.61% $15,482
    NBKC BANK 7 6.11% $11,714
    ASSOCIATED MORTGAGE CORPORATION 7 5.86% $10,651
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.73% $3,237
    GUARANTEED RATE, INC. 6 6.36% $5,582
    MORTGAGE SOLUTIONS OF COLORADO, LLC 6 7.79% $2,186
    VILLAGE CAPITAL MORTGAGE 5 6.13% $8,059
    Regions Bank 4 6.09% $7,280
    Citizens Bank 4 6.00% $5,009
    FirstTrust Home Loans, Inc. 4 5.84% $9,489
    COMMUNITY MORTGAGE CORPORATION 4 7.00% $3,741
    AMERISAVE MORTGAGE CORPORATION 4 5.78% $20,761
    Paramount Residential Mortgage Group, Inc. 4 5.72% $8,913
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 6.66% $5,379
    LEADERONE FINANCIAL CORPORATION 4 6.69% $12,586
    Mr. Cooper ( Nationstar Mortgage ) 4 5.47% $16,250
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.46% $9,144
    FIRST WESTERN MORTGAGE, INC. 3 6.21% $5,657
    BANK OF LITTLE ROCK MORTGAGE CORPORATION 3 6.29% $6,821
    VERITAS FUNDING, LLC 3 6.50% $23,188
    United Fidelity Funding Corp. 3 6.46% $7,294
    OPEN MORTGAGE, LLC 3 6.04% $12,985
    GENEVA FINANCIAL, LLC 3 7.04% $3,620
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.58% $18,203
    NEWREZ LLC 3 6.42% $9,971
    CROSSCOUNTRY MORTGAGE, LLC 3 7.42% $12,139
    The Central Trust Bank 3 7.17% $11,110
    Firstar Bank 3 5.91% $8,556
    U.S. Bank 3 6.46% $4,741
    First Financial Bank 3 6.67% $10,079
    Bank of England 3 6.13% $8,505
    S1L, Inc. 3 6.25% $9,147
    First Security Bank 3 6.63% $4,847
    Wells Fargo Bank 2 6.19% $7,813
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 7.19% $15,285
    Armed Forces Bank 2 5.69% $11,883
    Barrington Bank & Trust Company, N.A. 2 7.00% $10,396
    BNC National Bank 2 6.00% $17,365
    BOKF 2 6.13% $7,637
    CHURCHILL MORTGAGE CORPORATION 2 6.19% $10,310
    Colonial Savings, F.A. 2 6.56% $18,860
    Eagle Bank and Trust Company 2 6.69% $4,093
    First Horizon Bank 2 6.00% $7,395
    JPMorgan Chase Bank 2 6.75% $2,406
    Magnolia Bank 2 6.44% $12,577
    Sierra Pacific Mortgage Company, Inc. 2 6.56% $8,344
    SOUTHWEST STAGE FUNDING, LLC 2 6.38% $6
    SUN WEST MORTGAGE COMPANY, INC. 2 6.19% $12,528
    UNION HOME MORTGAGE CORP. 2 6.31% $7,840
    UNITED 2 6.44% $5,789
    PLAZA HOME MORTGAGE, INC. 1 6.75% $25,022
    PREMIA MORTGAGE, LLC 1 5.63% $3,863
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $9,570
    MID AMERICA MORTGAGE, INC. 1 6.75% $3,933
    Great Southern Bank 1 6.99% $1,730
    Flagstar Bank, FSB 1 5.50% $29,743
    RELIANCE FIRST CAPITAL, LLC 1 5.75% $21,904
    First Savings Bank 1 6.75% $22,621
    CARDINAL FINANCIAL 1 6.25% $8,808
    Capital Bank 1 5.75% $13,218
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.13% $2,894
    BancorpSouth 1 7.00% $15,849
    SWBC MORTGAGE CORPORATION 1 7.13% $10,681
    Farmers Bank & Trust 1 5.13% $1,958
    Community First National Bank 1 6.75% $2,847
    TJC Mortgage, Inc. 1 5.13% $19,049
    TOP FLITE FINANCIAL, INC. 1 6.75% $25,032
    Armstrong Bank 1 6.25% $3,805
    AMERICAN INTERNET MORTGAGE, INC. 1 5.75% $8,434
    United Bank 1 7.75% $3,015
    CMG MORTGAGE, INC. 1 7.13% $6,433
    Chambers Bank 1 5.75% $5,412
    Old National Bank 1 4.75% $6,582
    Network Funding, L.P. 1 6.25% $1,965
    MORTGAGE FINANCIAL SERVICES, LLC 1 6.88% $4,217
    Mortgage Assurance Inc. 1 6.25% $33,377
    PLANET HOME LENDING, LLC 1 6.38% $7,425

    The top Fayetteville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 125 VA loans originated. Their average total fees are $7,754, which is $4,063 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Fayetteville VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($3,998), DHI MORTGAGE COMPANY, LTD. ($5,377), GERSHMAN INVESTMENT CORP. ($5,690), PENTAGON FEDERAL CREDIT UNION ($6,282) and Arvest Bank ($6,339).

    The lowest rate Fayetteville VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.46%), PENTAGON FEDERAL CREDIT UNION (5.63%), NAVY FEDERAL CREDIT UNION (5.87%), GERSHMAN INVESTMENT CORP. (5.90%) and DHI MORTGAGE COMPANY, LTD. (5.97%).

    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.