Fayetteville VA Loan Rates, Closing Costs & Stats

FAYETTEVILLE-SPRINGDALE-ROGERS, AR

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 0.2% for the week of 2024-06-21, compared to the national average (all VA variants) of 0% for the same period.

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

The average rate for the prior week (2024-06-14) was 6.61% and one month ago for the week of 2024-05-17, the average rate was 6.8%.

The average rate one year ago was 6.41%.

For refis of the same type during the week of 2024-06-21, the average rate was -0.14%.

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.