Gainesville VA Loans

GAINESVILLE, FL

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.