Gainesville VA Loan Rates, Closing Costs & Stats

GAINESVILLE, GA

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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 63 lenders originated 199 VA loans during 2023. The total origination value was $79,665,000, with an average VA loan value of $400,327.

    Gainesville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Gainesville averaged 5.9% for the week of 2024-10-11, compared to the national average (all VA variants) of 5.854% for the same period.

    Gainesville's average VA mortgage closing costs are $6,774.

    The average rate for the prior week (2024-10-04) was 5.67% and one month ago for the week of 2024-09-06, the average rate was 5.66%.

    The average rate one year ago was 7.13%.

    For refis of the same type during the week of 2024-10-11, the average rate was 6.49%.

    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 22 6.51% $9,409
    UNITED WHOLESALE MORTGAGE, LLC 18 6.21% $7,267
    QUICKEN LOANS, LLC 12 6.13% $16,048
    HOMESTAR FINANCIAL CORPORATION 10 6.78% $10,847
    NAVY FEDERAL CREDIT UNION 10 5.91% $6,649
    FREEDOM MORTGAGE CORPORATION 10 6.50% $17,497
    VANDERBILT MORTGAGE AND FINANCE, INC. 9 5.76% $5,679
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.81% $9,237
    Ameris Bank 6 6.17% $12,217
    NEW DAY FINANCIAL, LLC 6 7.50% $13,552
    BROKER SOLUTIONS, INC. 5 6.10% $10,786
    LOANDEPOT.COM, LLC 5 5.67% $13,939
    USAA Federal Savings Bank 4 5.81% $10,456
    GUARANTEED RATE, INC. 4 6.23% $7,307
    The Federal Savings Bank 3 6.25% $20,266
    MOVEMENT MORTGAGE, LLC 3 7.04% $8,311
    FIRST COMMUNITY MORTGAGE, INC. 2 7.63% $12,759
    AMERISAVE MORTGAGE CORPORATION 2 5.50% $21,357
    Capital City Home Loans, LLC 2 6.63% $34,634
    CMG MORTGAGE, INC. 2 6.50% $5,245
    Wells Fargo Bank 2 5.38% $13,937
    Prosperity Home Mortgage, LLC 2 5.69% $3,655
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.25% $12,716
    PENTAGON FEDERAL CREDIT UNION 2 5.75% $3,948
    EVERETT FINANCIAL, INC. 2 6.63% $16,988
    Regions Bank 2 6.38% $5,259
    Paramount Residential Mortgage Group, Inc. 2 6.25% $8,652
    STOCKTON MORTGAGE CORPORATION 2 6.25% $8,539
    Synovus Bank 1 6.50% $4,953
    T2 FINANCIAL LLC 1 7.13% $6,119
    Truist 1 5.13% $4,768
    UNION HOME MORTGAGE CORP. 1 5.38% $18,941
    United Community Bank 1 7.00% $6,447
    VILLAGE CAPITAL MORTGAGE 1 6.00% $9,453
    ACOPIA, LLC 1 5.75% $689
    ZILLOW HOME LOANS, LLC 1 7.25% $0
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.25% $1,754
    Bank of England 1 6.13% $4,593
    BNC National Bank 1 5.88% $7,773
    CALIBER HOME LOANS, INC. 1 6.25% $13,671
    CARDINAL FINANCIAL 1 5.75% $20,816
    Carrington Mortgage Services, LLC 1 5.13% $6,867
    Century Mortgage Company DBA Century Lending Company 1 5.63% $12,475
    CROSSCOUNTRY MORTGAGE, LLC 1 5.75% $15,612
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.25% $22,424
    FLAT BRANCH MORTGAGE, INC. 1 6.75% $6,829
    GMFS LLC 1 6.13% $9,827
    Goldwater Bank, N.A. 1 6.63% $12,893
    GUARANTEED RATE AFFINITY, LLC 1 6.15% $29,915
    GUARANTY MORTGAGE SERVICES, L.L.C. 1 7.25% $5,293
    GUILD MORTGAGE COMPANY 1 5.38% $9,383
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.50% $4,224
    LAKEVIEW LOAN SERVICING, LLC 1 5.25% $10,176
    Mid-Continent Funding, Inc. 1 5.75% $2,587
    MORTGAGE INVESTORS GROUP, INC. 1 5.50% $15,806
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $14,651
    NATIONWIDE MORTGAGE BANKERS, INC. 1 7.75% $8,882
    NBKC BANK 1 6.00% $3,275
    NEWREZ LLC 1 6.75% $17,918
    ONY GLO, INC. 1 5.13% $33,005
    PENNYMAC LOAN SERVICES, LLC 1 5.49% $8,627
    PULTE MORTGAGE LLC 1 6.88% $792
    SHELTER HOME MORTGAGE, LLC 1 6.13% $8,155

    The top Gainesville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 22 VA loans originated. Their average total fees are $9,409, which is $2,142 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 ($6,649), UNITED WHOLESALE MORTGAGE, LLC ($7,267), Mortgage Research Center, LLC ($9,409), HOMESTAR FINANCIAL CORPORATION ($10,847) and QUICKEN LOANS, LLC ($16,048).

    The lowest rate Gainesville VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.91%), QUICKEN LOANS, LLC (6.13%), UNITED WHOLESALE MORTGAGE, LLC (6.21%), FREEDOM MORTGAGE CORPORATION (6.50%) and Mortgage Research Center, LLC (6.51%).

    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.