Gainesville VA Loan Rates, Closing Costs & Stats

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 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 6.43% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Gainesville's average VA mortgage closing costs are $6,350.

    The average rate for the prior week (2024-07-12) was 6.47% and one month ago for the week of 2024-06-14, the average rate was 6.33%.

    The average rate one year ago was 6.62%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.86%.

    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.