Gainesville VA Loan Rates, Closing Costs & Stats
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 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.
Gainesville's 73 lenders originated 418 VA
loans during 2023. The total origination value was $130,270,000, with an average VA loan value of
$311,651.
Gainesville VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Gainesville
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.
Gainesville's average VA mortgage closing costs are $6,350.
The average rate for the prior week (2024-10-18) was
5.98% and
one month ago for the week of 2024-09-20, the
average rate was 5.78%.
The average rate one year ago was 7.4%.
For refis of the same type during the week of 2024-10-25, the average rate
was 6.6%.
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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender
at the Gainesville level.
Name |
# of Loans |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
Mortgage Research Center, LLC
|
57
|
6.83%
|
$7,039
|
UNITED WHOLESALE MORTGAGE, LLC
|
41
|
6.41%
|
$6,756
|
NAVY FEDERAL CREDIT UNION
|
25
|
5.65%
|
$5,505
|
DHI MORTGAGE COMPANY, LTD.
|
19
|
5.38%
|
$6,801
|
QUICKEN LOANS, LLC
|
17
|
6.17%
|
$10,211
|
AMERICAN FINANCIAL NETWORK, INC.
|
15
|
6.81%
|
$8,016
|
Ameris Bank
|
14
|
6.52%
|
$7,337
|
FREEDOM MORTGAGE CORPORATION
|
12
|
6.59%
|
$11,745
|
LOANDEPOT.COM, LLC
|
11
|
6.55%
|
$11,624
|
Mortgage Lenders Investment Trading Corporation
|
11
|
7.00%
|
$15,415
|
USAA Federal Savings Bank
|
10
|
6.09%
|
$8,145
|
THE MORTGAGE FIRM, INC.
|
9
|
6.56%
|
$5,442
|
GUARANTEED RATE, INC.
|
8
|
6.46%
|
$7,751
|
Advisors Mortgage Group, L.L.C.
|
7
|
6.00%
|
$5,181
|
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC
|
7
|
6.89%
|
$7,445
|
FBC MORTGAGE, LLC
|
6
|
6.08%
|
$6,820
|
PENNYMAC LOAN SERVICES, LLC
|
5
|
5.65%
|
$14,335
|
MOVEMENT MORTGAGE, LLC
|
5
|
6.35%
|
$7,113
|
First Federal Bank
|
5
|
6.93%
|
$7,834
|
CARDINAL FINANCIAL
|
5
|
6.25%
|
$9,888
|
NEW DAY FINANCIAL, LLC
|
5
|
7.52%
|
$11,385
|
EAGLE HOME MORTGAGE, LLC
|
5
|
4.67%
|
$2,760
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
4
|
6.72%
|
$5,852
|
Barrington Bank & Trust Company, N.A.
|
4
|
6.25%
|
$7,521
|
CROSSCOUNTRY MORTGAGE, LLC
|
4
|
6.81%
|
$12,086
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
3
|
7.63%
|
$11,012
|
Nations Lending Corporation
|
3
|
6.42%
|
$18,053
|
PENTAGON FEDERAL CREDIT UNION
|
3
|
5.38%
|
$5,177
|
CMG MORTGAGE, INC.
|
3
|
7.13%
|
$12,574
|
AMERICAN FINANCIAL RESOURCES, INC.
|
3
|
6.25%
|
$12,279
|
UNION HOME MORTGAGE CORP.
|
3
|
6.42%
|
$8,870
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
3
|
6.33%
|
$12,318
|
Mid-Continent Funding, Inc.
|
2
|
6.44%
|
$7,128
|
MORTGAGE FINANCIAL GROUP, INC.
|
2
|
6.06%
|
$11,639
|
CALIBER HOME LOANS, INC.
|
2
|
6.75%
|
$16,795
|
SUN WEST MORTGAGE COMPANY, INC.
|
2
|
7.00%
|
$6,109
|
VILLAGE CAPITAL MORTGAGE
|
2
|
6.94%
|
$6,543
|
Strong Home Mortgage, LLC
|
2
|
6.56%
|
$5,302
|
MORTGAGEONE, INC.
|
2
|
6.69%
|
$330
|
Goldwater Bank, N.A.
|
2
|
6.94%
|
$8,434
|
PLAZA HOME MORTGAGE, INC.
|
2
|
6.62%
|
$7,868
|
WATSON MORTGAGE CORP.
|
1
|
6.25%
|
$3,432
|
ALLIED MORTGAGE GROUP, INC.
|
1
|
7.25%
|
$7,754
|
AMERICAN FINANCING CORPORATION
|
1
|
6.88%
|
$9,882
|
AMERISAVE MORTGAGE CORPORATION
|
1
|
6.25%
|
$14,294
|
CONTOUR MORTGAGE CORPORATION
|
1
|
6.50%
|
$24,110
|
Equity Prime Mortgage LLC
|
1
|
6.88%
|
$0
|
EVERETT FINANCIAL, INC.
|
1
|
7.13%
|
$9,836
|
First Horizon Bank
|
1
|
5.50%
|
$31,442
|
FIRST MORTGAGE COMPANY, INC.
|
1
|
6.63%
|
$5,029
|
Florida Capital Bank
|
1
|
5.63%
|
$14,246
|
GUILD MORTGAGE COMPANY
|
1
|
5.63%
|
$13,227
|
INSPIRE HOME LOANS INC.
|
1
|
5.50%
|
$12,215
|
JPMorgan Chase Bank
|
1
|
5.38%
|
$5,381
|
Keystone Funding, Inc.
|
1
|
6.50%
|
$9,669
|
LOANPAL, LLC
|
1
|
6.50%
|
$10,046
|
METROPLEX MORTGAGE SERVICES, INC.
|
1
|
6.00%
|
$15,990
|
MICHIGAN MUTUAL, INC.
|
1
|
7.75%
|
$4,907
|
MID AMERICA MORTGAGE, INC.
|
1
|
7.13%
|
$10,725
|
Mr. Cooper ( Nationstar Mortgage )
|
1
|
5.25%
|
$12,729
|
NBKC BANK
|
1
|
7.00%
|
$4,434
|
North American Savings Bank, F.S.B.
|
1
|
5.75%
|
$9,312
|
Prosperity Home Mortgage, LLC
|
1
|
7.00%
|
$5,416
|
Renasant Bank
|
1
|
5.25%
|
$3,839
|
Seacoast National Bank
|
1
|
6.63%
|
$6,146
|
South State Bank
|
1
|
6.99%
|
$1,968
|
SOUTHWEST STAGE FUNDING, LLC
|
1
|
6.38%
|
$5,290
|
STOCKTON MORTGAGE CORPORATION
|
1
|
6.63%
|
$13,571
|
Stride Bank
|
1
|
6.00%
|
$15,578
|
The Federal Savings Bank
|
1
|
6.88%
|
$11,764
|
TOWNE MORTGAGE COMPANY
|
1
|
6.63%
|
$11,280
|
Waterstone Mortgage Corporation
|
1
|
6.13%
|
$6,908
|
Academy Bank
|
1
|
6.75%
|
$24,444
|
The top Gainesville VA lender as defined by loan originations is Mortgage Research Center, LLC, with
57 VA loans originated. Their average total fees are
$7,039, which is $284
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Gainesville VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION ($5,505), UNITED WHOLESALE MORTGAGE, LLC ($6,756), DHI MORTGAGE COMPANY, LTD. ($6,801), Mortgage Research Center, LLC ($7,039) and Ameris Bank ($7,337).
The lowest rate Gainesville VA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.38%), NAVY FEDERAL CREDIT UNION (5.65%), USAA Federal Savings Bank (6.09%), QUICKEN LOANS, LLC (6.17%) and UNITED WHOLESALE MORTGAGE, LLC (6.41%).
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.