Gainesville VA Loans

GAINESVILLE, FL

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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 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.

    Gainesville's 113 lenders originated 985 VA loans during 2021. The total origination value was $253,945,000, with an average VA loan value of $257,812.

    Gainesville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Gainesville averaged 5.44% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

    The average rate for the prior week (2022-05-13) was 5.65% and one month ago for the week of 2022-04-15, the average rate was 5.01%.

    The average rate one year ago was 3.2%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.19%.

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

    Gainesville 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 Gainesville level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 106 2.85% $6,221
    QUICKEN LOANS, LLC 78 2.55% $4,330
    FREEDOM MORTGAGE CORPORATION 58 2.50% $3,540
    PENNYMAC LOAN SERVICES, LLC 41 2.50% $5,229
    USAA Federal Savings Bank 32 2.82% $5,570
    NAVY FEDERAL CREDIT UNION 31 2.53% $4,610
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 31 3.05% $6,787
    UNITED WHOLESALE MORTGAGE, LLC 28 2.57% $8,161
    LOANDEPOT.COM, LLC 24 2.53% $5,087
    NEW DAY FINANCIAL, LLC 23 2.74% $7,399
    VILLAGE CAPITAL & INVESTMENT LLC 23 2.40% $2,473
    DHI MORTGAGE COMPANY, LTD. 19 2.82% $6,861
    Mortgage Lenders Investment Trading Corporation 18 2.92% $9,522
    AMERICAN FINANCIAL NETWORK, INC. 17 3.04% $16,799
    FBC MORTGAGE, LLC 16 2.77% $8,964
    First Federal Bank 14 4.50% $6,121
    CALIBER HOME LOANS, INC. 14 2.49% $2,555
    Ameris Bank 13 2.73% $7,760
    HOME POINT FINANCIAL CORPORATION 12 2.47% $5,381
    LAKEVIEW LOAN SERVICING, LLC 12 2.66% $2,238
    UNION HOME MORTGAGE CORP. 11 2.91% $5,750
    MOVEMENT MORTGAGE, LLC 11 2.95% $4,431
    Mr. Cooper ( Nationstar Mortgage ) 10 2.96% $2,917
    Advisors Mortgage Group, L.L.C. 10 2.63% $6,765
    NEWREZ LLC 9 2.76% $4,001
    Barrington Bank & Trust Company, N.A. 9 2.92% $3,454
    Nations Lending Corporation 8 2.92% $4,875
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 3.10% $7,148
    Equity Prime Mortgage LLC 7 3.79% $13,391
    THE MORTGAGE FIRM, INC. 7 3.07% $10,162
    CLEARPATH LENDING 7 2.25% $6,301
    Low VA Rates, LLC 7 2.55% $5,069
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 7 3.11% $10,519
    GUARANTEED RATE, INC. 6 2.79% $11,407
    Paramount Residential Mortgage Group, Inc. 6 3.19% $6,935
    PENTAGON FEDERAL CREDIT UNION 6 2.35% $2,945
    AMERIFIRST FINANCIAL CORPORATION 5 2.85% $5,348
    PLANET HOME LENDING, LLC 5 2.55% $1,753
    The Federal Savings Bank 5 2.48% $8,837
    Capital City Home Loans, LLC 5 3.28% $6,977
    Carrington Mortgage Services, LLC 5 2.53% $5,686
    HOMEBRIDGE FINANCIAL SERVICES, INC. 5 3.18% $8,653
    Mid-Continent Funding, Inc. 5 2.75% $4,836
    Commerce Home Mortgage, Inc. 4 2.56% $3,384
    AMERICAN FINANCING CORPORATION 4 2.66% $6,582
    BROKER SOLUTIONS, INC. 4 2.66% $4,796
    MUTUAL OF OMAHA MORTGAGE, INC. 4 3.09% $7,466
    Truist Bank 3 2.66% $3,939
    STOCKTON MORTGAGE CORPORATION 3 3.33% $3,440
    CROSSCOUNTRY MORTGAGE, LLC 3 2.88% $7,262
    AMERISAVE MORTGAGE CORPORATION 3 2.46% $4,743
    LEADERONE FINANCIAL CORPORATION 3 2.79% $4,686
    North American Savings Bank, F.S.B. 3 2.42% $5,976
    Wells Fargo Bank 3 2.75% $2,043
    First Home Bank 3 2.92% $26,280
    Ixonia Bank 2 2.81% $4,194
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.44% $3,173
    Midwest Mortgage Associates Corporation 2 2.81% $4,116
    ACCELERATE MORTGAGE, LLC 2 2.25% $6,369
    WATSON MORTGAGE CORP. 2 2.50% $12,795
    Plains Commerce Bank 2 2.56% $8,357
    NATIONS DIRECT MORTGAGE, LLC 2 3.00% $4,678
    NP, Inc. 2 2.31% $3,579
    NBKC BANK 2 2.63% $5,687
    HAMILTON HOME LOANS, INC. 2 3.13% $5,847
    SUN WEST MORTGAGE COMPANY, INC. 2 2.25% $2,495
    SOUTHWEST STAGE FUNDING, LLC 2 3.38% $2,187
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 2.63% $9,858
    Prosperity Home Mortgage, LLC 2 2.69% $3,023
    InterContinental Capital Group, Inc 2 2.44% $5,358
    KS StateBank 1 2.38% $9,579
    ACADEMY MORTGAGE CORPORATION 1 3.25% $4,394
    AMERICAN FINANCIAL RESOURCES, INC. 1 3.50% $2,222
    Arvest Bank 1 2.75% $2,088
    Assurance Financial Group, L.L.C. 1 2.25% $4,098
    Blue Ridge Bank 1 2.63% $7,702
    CALCON MUTUAL MORTGAGE LLC 1 4.00% $7,693
    Capital Bank 1 2.75% $10,839
    CELEBRITY HOME LOANS, LLC 1 3.00% $1,999
    Centennial Bank 1 3.13% $15,522
    CMG MORTGAGE, INC. 1 2.75% $2,829
    Credence Funding Corporation 1 2.25% $2,604
    DAS Acquisition Company, LLC 1 3.00% $23,349
    DIRECT LENDERS, LLC 1 3.13% $16,664
    EAGLE HOME MORTGAGE, LLC 1 2.50% $7,325
    EMBRACE HOME LOANS, INC. 1 2.99% $5,130
    FINANCE OF AMERICA MORTGAGE LLC 1 2.25% $8,350
    First Midwest Bank 1 2.50% $7,225
    First Mortgage Solutions, LLC 1 2.00% $4,250
    First Savings Bank 1 2.50% $14,578
    Flagstar Bank, FSB 1 2.89% $3,795
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.75% $3,172
    GUARANTEED RATE AFFINITY, LLC 1 2.63% $2,055
    HOMESIDE FINANCIAL, LLC 1 3.25% $2,744
    HOMESTAR FINANCIAL CORPORATION 1 3.00% $16,417
    ABSOLUTE HOME MORTGAGE CORPORATION 1 3.00% $9,658
    Lakeview Community Capital, LLC 1 2.25% $4,400
    LOANPAL, LLC 1 2.25% $2,936
    MID AMERICA MORTGAGE, INC. 1 2.00% $3,743
    Mortgage Unlimited, L.L.C. 1 3.00% $5,824
    OCEANSIDE MORTGAGE COMPANY 1 2.75% $0
    OVM FINANCIAL, INC. 1 3.50% $4,251
    Paramount Bank 1 2.88% $2,885
    PLAZA HOME MORTGAGE, INC. 1 3.13% $16,462
    Prime Choice Funding Inc. 1 2.38% $4,420
    South State Bank 1 2.38% $18,188
    SUCCESS MORTGAGE PARTNERS, INC. 1 3.00% $9,789
    The Huntington National Bank 1 3.00% $2,834
    TOWNE MORTGAGE COMPANY 1 2.75% $2,842
    UNIVERSITY LENDING GROUP, LLC 1 2.50% $7,817
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.88% $7,909
    Wolfe Financial, Inc 1 2.88% $5,987
    Wyndham Capital Mortgage, Inc. 1 2.25% $1,907

    The top Gainesville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 106 VA loans originated. Their average total fees are $6,221, which is $1,891 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Gainesville VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,238), VILLAGE CAPITAL & INVESTMENT LLC ($2,473), CALIBER HOME LOANS, INC. ($2,555), Mr. Cooper ( Nationstar Mortgage ) ($2,917) and FREEDOM MORTGAGE CORPORATION ($3,540).

    The lowest rate Gainesville VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.40%), HOME POINT FINANCIAL CORPORATION (2.47%), CALIBER HOME LOANS, INC. (2.49%), FREEDOM MORTGAGE CORPORATION (2.50%) and PENNYMAC LOAN SERVICES, LLC (2.50%).

    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.