Flint VA Loan Rates, Closing Costs & Stats
FLINT, MI
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.
Flint's 73 lenders originated 340 VA
loans during 2023. The total origination value was $79,900,000, with an average VA loan value of
$235,000.
Flint VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Flint
averaged
6.37%
for the week of 2024-10-25, compared to the national average (all VA variants) of
6.14% for the same period.
Flint's average VA mortgage closing costs are $4,874.
The average rate for the prior week (2024-10-18) was
6.19% and
one month ago for the week of 2024-09-20, the
average rate was 5.79%.
The average rate one year ago was 7.71%.
For refis of the same type during the week of 2024-10-25, the average rate
was 6.91%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Flint 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 Flint level.
Name |
# of Loans |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
Mortgage Research Center, LLC
|
68
|
6.82%
|
$4,985
|
QUICKEN LOANS, LLC
|
31
|
6.11%
|
$7,862
|
UNITED WHOLESALE MORTGAGE, LLC
|
27
|
6.59%
|
$8,802
|
J. VIRGIL, INC.
|
16
|
6.80%
|
$6,572
|
NEW DAY FINANCIAL, LLC
|
12
|
7.57%
|
$10,710
|
Preston Home Loans Inc
|
11
|
6.59%
|
$8,710
|
NEWREZ LLC
|
8
|
6.80%
|
$6,837
|
PENNYMAC LOAN SERVICES, LLC
|
7
|
5.82%
|
$3,819
|
NAVY FEDERAL CREDIT UNION
|
7
|
5.79%
|
$2,775
|
The Huntington National Bank
|
6
|
6.58%
|
$4,999
|
CALIBER HOME LOANS, INC.
|
6
|
6.56%
|
$7,781
|
MORTGAGE 1 INCORPORATED
|
6
|
6.31%
|
$5,841
|
DAS Acquisition Company, LLC
|
5
|
6.93%
|
$6,760
|
SUCCESS MORTGAGE PARTNERS, INC.
|
5
|
6.70%
|
$10,023
|
FREEDOM MORTGAGE CORPORATION
|
5
|
6.50%
|
$13,380
|
TOWNE MORTGAGE COMPANY
|
5
|
6.57%
|
$9,004
|
INSPIRE HOME LOANS INC.
|
4
|
5.63%
|
$2,997
|
LOANDEPOT.COM, LLC
|
4
|
5.87%
|
$17,637
|
Mr. Cooper ( Nationstar Mortgage )
|
4
|
5.75%
|
$10,219
|
ROSS MORTGAGE CORPORATION
|
4
|
6.66%
|
$3,763
|
The Federal Savings Bank
|
3
|
6.58%
|
$11,735
|
Flagstar Bank, FSB
|
3
|
6.92%
|
$4,946
|
First State Bank
|
3
|
6.96%
|
$5,168
|
AMERICAN FINANCIAL RESOURCES, INC.
|
3
|
7.42%
|
$10,870
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
3
|
6.33%
|
$10,756
|
AMERISAVE MORTGAGE CORPORATION
|
3
|
6.25%
|
$12,560
|
PLAZA HOME MORTGAGE, INC.
|
3
|
7.00%
|
$7,259
|
JPMorgan Chase Bank
|
3
|
6.38%
|
$877
|
NATIONWIDE MORTGAGE BANKERS, INC.
|
2
|
6.88%
|
$8,593
|
NBKC BANK
|
2
|
6.00%
|
$4,762
|
PENTAGON FEDERAL CREDIT UNION
|
2
|
6.63%
|
$3,670
|
CROSSCOUNTRY MORTGAGE, LLC
|
2
|
6.00%
|
$4,174
|
GUARANTEED RATE, INC.
|
2
|
6.39%
|
$8,774
|
Barrington Bank & Trust Company, N.A.
|
2
|
6.00%
|
$3,507
|
STAUNTON FINANCIAL, INC.
|
2
|
6.88%
|
$7,583
|
Sunflower Bank
|
2
|
7.44%
|
$5,467
|
BROKER SOLUTIONS, INC.
|
2
|
6.75%
|
$10,737
|
USAA Federal Savings Bank
|
2
|
6.19%
|
$6,948
|
ACADEMY MORTGAGE CORPORATION
|
2
|
6.88%
|
$10,488
|
FIRST COMMUNITY MORTGAGE, INC.
|
2
|
6.94%
|
$5,755
|
MEMBER FIRST MORTGAGE, LLC
|
2
|
6.56%
|
$7,054
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
2
|
7.13%
|
$4,069
|
VILLAGE CAPITAL MORTGAGE
|
1
|
5.25%
|
$11,422
|
BM Real Estate Services, Inc.
|
1
|
6.50%
|
$3,003
|
CARDINAL FINANCIAL
|
1
|
6.75%
|
$5,498
|
Citizens Bank
|
1
|
7.63%
|
$4,154
|
ELGA CREDIT UNION
|
1
|
7.63%
|
$5,257
|
Equity Prime Mortgage LLC
|
1
|
6.75%
|
$66
|
EQUITY RESOURCES, INC.
|
1
|
6.75%
|
$7,692
|
EVERETT FINANCIAL, INC.
|
1
|
6.63%
|
$10,804
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
1
|
6.25%
|
$816
|
First Merchants Bank
|
1
|
7.25%
|
$3,718
|
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION
|
1
|
7.13%
|
$14,332
|
GUARANTEED RATE AFFINITY, LLC
|
1
|
7.50%
|
$2,994
|
HIGHLANDS RESIDENTIAL MORTGAGE, LTD.
|
1
|
6.13%
|
$9,644
|
HomePromise Corporation
|
1
|
8.13%
|
$2,659
|
Independent Bank
|
1
|
6.00%
|
$8,453
|
LAKE MICHIGAN CREDIT UNION
|
1
|
6.63%
|
$0
|
LAKEVIEW LOAN SERVICING, LLC
|
1
|
6.25%
|
$7,601
|
Magnolia Bank
|
1
|
5.99%
|
$22,273
|
MICHIGAN MUTUAL, INC.
|
1
|
7.13%
|
$4,689
|
Paramount Residential Mortgage Group, Inc.
|
1
|
6.75%
|
$6,490
|
Plains Commerce Bank
|
1
|
7.25%
|
$3,306
|
PLANET HOME LENDING, LLC
|
1
|
5.75%
|
$15,637
|
Platinum Home Mortgage Corporation
|
1
|
6.75%
|
$8,119
|
Prosperity Home Mortgage, LLC
|
1
|
6.63%
|
$5,128
|
ROYAL UNITED MORTGAGE LLC
|
1
|
7.25%
|
$7,310
|
SeaTrust Mortgage Company
|
1
|
6.75%
|
$19,674
|
UNION HOME MORTGAGE CORP.
|
1
|
7.75%
|
$6,727
|
University Bank
|
1
|
6.63%
|
$2,859
|
U.S. Bank
|
1
|
6.50%
|
$6,667
|
US MORTGAGE CORPORATION
|
1
|
7.25%
|
$6,680
|
VAN DYK MORTGAGE CORPORATION
|
1
|
6.88%
|
$3,213
|
The top Flint VA lender as defined by loan originations is Mortgage Research Center, LLC, with
68 VA loans originated. Their average total fees are
$4,985, which is $2,877
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Flint VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC ($4,985), J. VIRGIL, INC. ($6,572), QUICKEN LOANS, LLC ($7,862), Preston Home Loans Inc ($8,710) and UNITED WHOLESALE MORTGAGE, LLC ($8,802).
The lowest rate Flint VA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.11%), UNITED WHOLESALE MORTGAGE, LLC (6.59%), Preston Home Loans Inc (6.59%), J. VIRGIL, INC. (6.80%) and Mortgage Research Center, LLC (6.82%).
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.